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Cash and Cash Equivalents and Investments
 9 Months Ended
Dec. 29, 2013
Cash and Cash Equivalents [Abstract]  
Cash and Cash Equivalents and Investments
Cash and Cash Equivalents and Investments
The following table presents information about our financial assets that are measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.
 
 
December 29,
2013
 
 
 
 
 
 
(In thousands)
 
 
Level 1
 
Level 2
 
Level 3
Assets:
 
 
 
 
 
 
 
 
Cash
 
$
27,860

 
$
27,860

 
$
—

 
$
—

Certificates of deposit
 
23,209

 
—

 
23,209

 
—

Municipal bonds
 
3,684

 
—

 
3,684

 
—

 
 
 
 
 
 
 
 
 
 
 
March 31,
2013
 
 
 
 
 
 
(In thousands)
 
 
Level 1
 
Level 2
 
Level 3
Assets:
 
 
 
 
 
 
 
 
Cash
 
$
28,715

 
$
28,715

 
$
—

 
$
—

Certificates of deposit
 
21,222

 
—

 
21,222

 
—


Our financial assets that are measured at fair value on a recurring basis are certificates of deposit (“CD’s”) and municipal bonds, with original maturities ranging from three months to three years that fall within valuation technique Level 2. The CD’s and municipal bonds are classified as investments in current assets and noncurrent assets on the condensed consolidated balance sheets. As of December 29, 2013, the combined CD’s and municipal bonds had a fair value of $14.0 million in current assets and $12.9 million in noncurrent assets.

The carrying value of cash and cash equivalents accounts approximates fair value, as original maturities are three months or less.