Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Mar. 28, 2015 | Apr. 24, 2015 | Sep. 26, 2014 | |
Document and Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 28-Mar-15 | ||
Document Fiscal Year Focus | 2015 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | XILINX INC | ||
Entity Central Index Key | 743988 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Current Fiscal Year End Date | -25 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 258,596,234 | ||
Common Stock, par value (in dollars per share) | $0.01 | ||
Entity Public Float | $12,220,670,000 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 |
Net revenues | $2,377,344 | $2,382,531 | $2,168,652 |
Cost of revenues | 708,823 | 743,253 | 737,206 |
Gross margin | 1,668,521 | 1,639,278 | 1,431,446 |
Operating expenses: | |||
Research and development | 525,745 | 492,447 | 475,522 |
Selling, general and administrative | 353,670 | 378,607 | 365,684 |
Amortization of acquisition-related intangibles | 9,537 | 9,887 | 9,508 |
Restructuring charges | 24,491 | 0 | 0 |
Litigation and contingencies | 0 | 9,410 | 0 |
Total operating expenses | 913,443 | 890,351 | 850,714 |
Operating income | 755,078 | 748,927 | 580,732 |
Loss on Extinguishment of Debt | 0 | 9,848 | 0 |
Interest and other expense, net | 15,002 | 29,553 | 33,726 |
Income before income taxes | 740,076 | 709,526 | 547,006 |
Provision for income taxes | 91,860 | 79,138 | 59,470 |
Net income | $648,216 | $630,388 | $487,536 |
Net income per common share: | |||
Basic (in dollars per share) | $2.44 | $2.37 | $1.86 |
Diluted (in dollars per share) | $2.35 | $2.19 | $1.79 |
Shares used in per share calculations: | |||
Basic (in shares) | 265,480 | 266,431 | 261,652 |
Diluted (in shares) | 276,123 | 287,396 | 272,573 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 |
Statement of Comprehensive Income [Abstract] | |||
Net income | $648,216 | $630,388 | $487,536 |
Other comprehensive income (loss), net of tax: | |||
Change in net unrealized gains (losses) on available-for-sale securities | 7,483 | -11,241 | 3,343 |
Reclassification adjustment for gains on available-for-sale securities | -6,832 | -167 | -1,740 |
Net change in unrealized gains (losses) on hedging transactions | -11,074 | 459 | -1,059 |
Other Comprehensive Income, Reclassification Adjustment from AOCI on Derivatives, Net of Tax | 2,753 | 1,707 | 2,792 |
Cumulative translation adjustment, net | -2,931 | 34 | -1,940 |
Other comprehensive income (loss) | -10,601 | -9,208 | 1,396 |
Total comprehensive income | $637,615 | $621,180 | $488,932 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 28, 2015 | Mar. 29, 2014 |
In Thousands, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $892,572 | $973,677 |
Short-term investments | 2,410,489 | 1,483,644 |
Accounts receivable, net of allowances for doubtful accounts and customer returns of $3,353 and $3,355 in 2015 and 2014, respectively | 246,615 | 267,833 |
Inventories | 231,328 | 233,999 |
Deferred tax assets | 79,519 | 56,166 |
Prepaid expenses and other current assets | 74,528 | 51,828 |
Total current assets | 3,935,051 | 3,067,147 |
Property, plant and equipment, at cost: | ||
Land | 65,298 | 93,701 |
Buildings | 312,610 | 311,411 |
Machinery and equipment | 380,303 | 358,193 |
Furniture and fixtures | 46,412 | 46,725 |
Gross property, plant and equipment | 804,623 | 810,030 |
Accumulated depreciation and amortization | -503,585 | -454,941 |
Net property, plant and equipment | 301,038 | 355,089 |
Long-term investments | 266,902 | 1,190,775 |
Goodwill | 159,296 | 159,296 |
Acquisition-related intangibles, net | 12,752 | 28,867 |
Other assets | 223,026 | 236,175 |
Total Assets | 4,898,065 | 5,037,349 |
Current liabilities: | ||
Accounts payable | 80,113 | 149,695 |
Accrued payroll and related liabilities | 156,600 | 157,373 |
Income taxes payable | 19,693 | 12,936 |
Deferred income on shipments to distributors | 66,071 | 55,099 |
Other accrued liabilities | 64,676 | 49,256 |
Long-term Debt, Current Maturities | 576,053 | 565,001 |
Total current liabilities | 963,206 | 989,360 |
Long-term Debt, Excluding Current Maturities | 994,839 | 993,870 |
Deferred tax liabilities | 289,868 | 253,433 |
Long-term income taxes payable | 13,245 | 11,470 |
Other long-term liabilities | 1,366 | 1,535 |
Commitments and contingencies | ||
Temporary Equity, Carrying Amount, Attributable to Parent | 23,947 | 34,999 |
Stockholders' equity: | ||
Preferred stock, $.01 par value; 2,000 shares authorized; none issued and outstanding | 0 | 0 |
Common stock, $.01 par value; 2,000,000 shares authorized; 258,340 and 268,637 shares issued and outstanding in 2015 and 2014, respectively | 2,583 | 2,686 |
Additional paid-in capital | 653,882 | 805,073 |
Retained earnings | 1,966,278 | 1,945,471 |
Accumulated other comprehensive loss | -11,149 | -548 |
Total stockholders’ equity | 2,611,594 | 2,752,682 |
Total Liabilities, Temporary Equity and Stockholders’ Equity | $4,898,065 | $5,037,349 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 28, 2015 | Mar. 29, 2014 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $3,353 | $3,355 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 2,000,000 | 2,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 2,000,000,000 | 2,000,000,000 |
Common stock, shares issued | 258,340,000 | 268,637,000 |
Common stock, shares outstanding | 258,340,000 | 268,637,000 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 |
Cash flows from operating activities: | |||
Net income | $648,216 | $630,388 | $487,536 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 55,266 | 55,464 | 56,327 |
Amortization | 19,648 | 19,808 | 17,233 |
Stock-based compensation | 99,859 | 94,314 | 77,862 |
Loss on Extinguishment of Debt | 0 | 9,848 | 0 |
Net (gain) loss on sale of available-for-sale securities | -11,878 | 332 | -2,815 |
Amortization of debt discount on convertible debentures | 12,022 | 16,319 | 15,880 |
Provision (benefit) for deferred income taxes | 17,802 | 53,854 | -44,100 |
Excess tax benefit from stock-based compensation | -19,662 | -30,754 | -10,156 |
Others | 122 | -1,618 | 2,779 |
Changes in assets and liabilities: | |||
Accounts receivable, net | 21,219 | -38,658 | -14,210 |
Inventories | 2,664 | -32,333 | 3,889 |
Prepaid expenses and other current assets | -13,118 | -4,754 | 5,000 |
Other assets | -531 | -21,335 | -13,932 |
Accounts payable | -69,583 | 76,929 | -5,846 |
Accrued liabilities (including restructuring activities) | 1,795 | 19,659 | -2,319 |
Income taxes payable | 15,967 | -44,287 | 97,053 |
Deferred income on shipments to distributors | 10,972 | 1,741 | -13,644 |
Net cash provided by operating activities | 790,780 | 804,917 | 656,537 |
Cash flows from investing activities: | |||
Purchases of available-for-sale securities | -3,742,742 | -3,843,395 | -3,910,398 |
Proceeds from sale and maturity of available-for-sale securities | 3,756,021 | 3,900,858 | 3,514,224 |
Purchases of property, plant and equipment | -29,619 | -44,865 | -30,265 |
Other investing activities | 29,296 | 16,048 | -85,076 |
Net cash provided by (used in) investing activities | 12,956 | 28,646 | -511,515 |
Cash flows from financing activities: | |||
Repayments of Convertible Debt | 0 | -1,234,086 | 0 |
Cash Payments For Repurchase Of Common Stock | 651,006 | 241,076 | 197,689 |
Proceeds from issuance of common stock through various stock plans, net | 52,661 | 238,158 | 107,716 |
Payment of dividends to stockholders | -306,158 | -267,343 | -230,469 |
Proceeds from Issuance of Long-term Debt | 0 | 990,149 | 0 |
Excess tax benefit from stock-based compensation | 19,662 | 30,754 | 10,156 |
Net cash used in financing activities | -884,841 | -483,444 | -310,286 |
Net increase (decrease) in cash and cash equivalents | -81,105 | 350,119 | -165,264 |
Cash and cash equivalents at beginning of period | 973,677 | 623,558 | 788,822 |
Cash and cash equivalents at end of period | 892,572 | 973,677 | 623,558 |
Supplemental disclosure of cash flow information: | |||
Interest paid | 41,589 | 36,847 | 37,301 |
Income taxes paid, net | $57,896 | $68,215 | $6,975 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands, unless otherwise specified | |||||
Total stockholders' equity, beginning balance at Mar. 31, 2012 | $2,707,685 | $2,636 | $1,195,458 | $1,502,327 | $7,264 |
Common stock, shares outstanding, beginning balance at Mar. 31, 2012 | 263,612 | ||||
Components of comprehensive income: | |||||
Net income | 487,536 | 487,536 | |||
Other comprehensive income (loss) | 1,396 | 1,396 | |||
Issuance of common shares under employee stock plans, Shares | 6,191 | ||||
Issuance of common shares under employee stock plans, Value | 107,716 | 61 | 107,655 | ||
Repurchase and retirement of common stock, Shares | -6,154 | ||||
Stock Repurchased and Retired During Period, Value | 197,689 | 61 | 113,956 | 83,672 | |
Stock-based compensation expense | 77,862 | 77,862 | |||
Stock-based compensation capitalized in inventory | 275 | 275 | |||
Cash dividends declared | -230,469 | -230,469 | |||
Net excess tax benefits from stock-based compensation | 8,984 | 8,984 | |||
Total stockholders' equity, ending balance at Mar. 30, 2013 | 2,963,296 | 2,636 | 1,276,278 | 1,675,722 | 8,660 |
Common stock, shares outstanding, ending balance at Mar. 30, 2013 | 263,649 | ||||
Components of comprehensive income: | |||||
Net income | 630,388 | 630,388 | |||
Other comprehensive income (loss) | -9,208 | -9,208 | |||
Issuance of common shares under employee stock plans, Shares | 10,124 | ||||
Issuance of common shares under employee stock plans, Value | 238,158 | 101 | 238,057 | ||
Repurchase and retirement of common stock, Shares | -5,136 | ||||
Stock Repurchased and Retired During Period, Value | 242,094 | 51 | 148,747 | 93,296 | |
Stock-based compensation expense | 94,314 | 94,314 | |||
Stock-based compensation capitalized in inventory | 416 | 416 | |||
Temporary equity reclassification | -34,999 | -34,999 | |||
Extinguishment of Debt, Amount | -646,650 | -646,650 | |||
Cash dividends declared | -267,343 | -267,343 | |||
Net excess tax benefits from stock-based compensation | 26,404 | 26,404 | |||
Total stockholders' equity, ending balance at Mar. 29, 2014 | 2,752,682 | 2,686 | 805,073 | 1,945,471 | -548 |
Common stock, shares outstanding, ending balance at Mar. 29, 2014 | 268,637 | 268,637 | |||
Components of comprehensive income: | |||||
Net income | 648,216 | 648,216 | |||
Other comprehensive income (loss) | -10,601 | -10,601 | |||
Issuance of common shares under employee stock plans, Shares | 5,058 | ||||
Issuance of common shares under employee stock plans, Value | 52,661 | 51 | 52,610 | ||
Repurchase and retirement of common stock, Shares | -15,355 | ||||
Stock Repurchased and Retired During Period, Value | 649,990 | 154 | 328,585 | 321,251 | |
Stock-based compensation expense | 99,859 | 99,859 | |||
Stock-based compensation capitalized in inventory | -5 | -5 | |||
Temporary equity reclassification | 11,052 | 11,052 | |||
Cash dividends declared | -306,158 | -306,158 | |||
Net excess tax benefits from stock-based compensation | 13,878 | 13,878 | |||
Total stockholders' equity, ending balance at Mar. 28, 2015 | $2,611,594 | $2,583 | $653,882 | $1,966,278 | ($11,149) |
Common stock, shares outstanding, ending balance at Mar. 28, 2015 | 258,340 | 258,340 |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 | |
Retained Earnings [Member] | |||
Cash dividends per share (in dollars per share) | $1.16 | $1 | $0.88 |
Nature_of_Operations
Nature of Operations | 12 Months Ended |
Mar. 28, 2015 | |
Nature of Operations [Abstract] | |
Nature of Operations | Nature of Operations |
Xilinx, Inc. (Xilinx or the Company) designs, develops and markets programmable devices and associated technologies, including advanced ICs in the form of PLDs, software design tools and predefined system functions delivered as IP. In addition to its programmable platforms, the Company provides design services, customer training, field engineering and technical support. The wafers used to manufacture its products are obtained primarily from independent wafer manufacturers located in Taiwan and Korea. The Company is dependent on these foundries to produce and deliver silicon wafers on a timely basis. The Company is also dependent on subcontractors, primarily located in the Asia Pacific region, to provide semiconductor assembly, test and shipment services. Xilinx is a global company with sales offices throughout the world. The Company derives over one-half of its revenues from international sales, primarily in the Asia Pacific region, Europe and Japan. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies and Concentrations of Risk | 12 Months Ended | |||||||
Mar. 28, 2015 | ||||||||
Accounting Policies [Abstract] | ||||||||
Summary of Significant Accounting Policies and Concentrations of Risk | Summary of Significant Accounting Policies and Concentrations of Risk | |||||||
Basis of Presentation | ||||||||
The accompanying consolidated financial statements include the accounts of Xilinx and its wholly-owned subsidiaries after elimination of all intercompany transactions. The Company uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2015, 2014 and 2013 were 52-week years ended on March 28, 2015, March 29, 2014 and March 30, 2013, respectively. Fiscal 2016 will be a 53-week year ending on April 2, 2016. The third quarter of fiscal 2016 will be a 14-week quarter ending on January 2, 2016. | ||||||||
Use of Estimates | ||||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of net revenues and expenses during the reporting period. Such estimates relate to, among others, the useful lives of assets, assessment of recoverability of property, plant and equipment, long-lived assets including acquisition-related intangible assets and goodwill, inventory write-downs, allowances for doubtful accounts, customer returns, deferred tax assets, stock-based compensation, potential reserves relating to litigation and tax matters, valuation of certain investments and derivative financial instruments as well as other accruals or reserves. Actual results may differ from those estimates and such differences may be material to the financial statements. | ||||||||
Cash Equivalents and Investments | ||||||||
Cash equivalents consist of highly liquid investments with original maturities from the date of purchase of three months or less. These investments consist of non-financial institution securities, U.S. and foreign government and agency securities, money market funds, and financial institution securities. Short-term investments consist of U.S. and foreign government and agency securities, mortgage-backed securities, asset-backed securities, bank loans, financial institution securities, non-financial institution securities, a debt mutual fund and municipal bonds with original maturities greater than three months and remaining maturities less than one year from the balance sheet date. Long-term investments consist of mortgage-backed securities, asset-backed securities, non-financial institution securities, a debt mutual fund, U.S. government and agency securities and municipal bonds with remaining maturities greater than one year, unless the investments are specifically identified to fund current operations, in which case they are classified as short-term investments. As of March 28, 2015 and March 29, 2014, long-term investments also included approximately $10.3 million and $20.2 million, respectively, of auction rate securities that experienced failed auctions in the fourth quarter of fiscal 2008. These auction rate securities are secured primarily by pools of student loans originated under Federal Family Education Loan Program that are substantially guaranteed by the U. S. Department of Education. Equity investments are also classified as long-term investments since they are not intended to fund current operations. | ||||||||
The Company maintains its cash balances with various banks with high quality ratings, and with investment banking and asset management institutions. The Company manages its liquidity risk by investing in a variety of money market funds, high-grade commercial paper, corporate bonds, municipal bonds, U.S. and foreign government and agency securities, asset-backed securities and debt mutual funds. This diversification of investments is consistent with its policy to maintain liquidity and ensure the ability to collect principal. The Company maintains an offshore investment portfolio denominated in U.S. dollars. All investments are made pursuant to corporate investment policy guidelines. Investments include Euro commercial paper, Euro dollar bonds, Euro dollar floating rate notes, offshore time deposits, U.S. and foreign government and agency securities, asset-backed securities, bank loans and mortgage-backed securities issued by U.S. government-sponsored enterprises and agencies. | ||||||||
Management classifies investments as available-for-sale or held-to-maturity at the time of purchase and re-evaluates such designation at each balance sheet date, although classification is not generally changed. Securities are classified as held-to-maturity when the Company has the positive intent and the ability to hold the securities until maturity. Held-to-maturity securities are carried at cost adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization, as well as any interest on the securities, is included in interest income. No investments were classified as held-to-maturity as of March 28, 2015 or March 29, 2014. Available-for-sale securities are carried at fair value with the unrealized gains or losses, net of tax, included as a component of accumulated other comprehensive income (loss) in stockholders’ equity. See "Note 3. Fair Value Measurements" for information relating to the determination of fair value. Realized gains and losses on available-for-sale securities are included in interest and other expense, net, and declines in value judged to be other than temporary are included in impairment loss on investments. In determining if and when a decline in value below the adjusted cost of marketable debt and equity securities is other than temporary, we evaluate on an ongoing basis the market conditions, trends of earnings, financial condition, credit ratings, any underlying collateral and other key measures for our investments. The cost of securities matured or sold is based on the specific identification method. | ||||||||
In determining whether a decline in value of non-marketable equity investments in private companies is other than temporary, the assessment is made by considering available evidence including the general market conditions in the investee’s industry, the investee’s product development status, the investee’s ability to meet business milestones and the financial condition and near-term prospects of the individual investee, including the rate at which the investee is using its cash, the investee’s need for possible additional funding at a lower valuation and bona fide offers to purchase the investee from a prospective acquirer. When a decline in value is deemed to be other than temporary, the Company recognizes an impairment loss in the current period’s operating results to the extent of the decline. | ||||||||
Accounts Receivable | ||||||||
The allowance for doubtful accounts reflects the Company’s best estimate of probable losses inherent in the accounts receivable balance. The Company determines the allowance based on the aging of Xilinx’s accounts receivable, historical experience, known troubled accounts, management judgment and other currently available evidence. Xilinx writes off accounts receivable against the allowance when Xilinx determines a balance is uncollectible and no longer actively pursues collection of the receivable. The amounts of accounts receivable written off were insignificant for all periods presented. | ||||||||
Inventories | ||||||||
Inventories are stated at the lower of actual cost (determined using the first-in, first-out method), or market (estimated net realizable value) and are comprised of the following: | ||||||||
(In thousands) | 28-Mar-15 | 29-Mar-14 | ||||||
Raw materials | $ | 14,174 | $ | 15,306 | ||||
Work-in-process | 183,472 | 192,067 | ||||||
Finished goods | 33,682 | 26,626 | ||||||
$ | 231,328 | $ | 233,999 | |||||
The Company reviews and sets standard costs quarterly to approximate current actual manufacturing costs. The Company’s manufacturing overhead standards for product costs are calculated assuming full absorption of actual spending over actual volumes. Given the cyclicality of the market, the obsolescence of technology and product lifecycles, the Company writes down inventory based on forecasted demand and technological obsolescence. These forecasts are developed based on inputs from the Company’s customers, including bookings and extended but uncommitted demand forecasts, and internal analyses such as customer historical purchasing trends and actual and anticipated design wins, as well as market and economic conditions, technology changes, new product introductions and changes in strategic direction. These factors require estimates that may include uncertain elements. The estimates of future demand that the Company uses in the valuation of inventory are the basis for its published revenue forecasts, which are also consistent with our short-term manufacturing plans. The differences between the Company’s demand forecast and the actual demand in the recent past have not resulted in any material write down in the Company’s inventory. If the Company’s demand forecast for specific products is greater than actual demand and the Company fails to reduce manufacturing output accordingly, the Company could be required to write down additional inventory, which would have a negative impact on the Company’s gross margin. | ||||||||
Property, Plant and Equipment | ||||||||
Property, plant and equipment are recorded at cost, net of accumulated depreciation. Depreciation for financial reporting purposes is computed using the straight-line method over the estimated useful lives of the assets of three to five years for machinery, equipment, furniture and fixtures and 15 to 30 years for buildings. Depreciation expense totaled $55.3 million, $55.5 million and $56.3 million for fiscal 2015, 2014 and 2013, respectively. | ||||||||
Impairment of Long-Lived Assets Including Acquisition-Related Intangibles | ||||||||
The Company evaluates the carrying value of long-lived assets and certain identifiable intangible assets to be held and used for impairment if indicators of potential impairment exist. Impairment indicators are reviewed on a quarterly basis. When indicators of impairment exist and assets are held for use, the Company estimates future undiscounted cash flows attributable to the assets. In the event such cash flows are not expected to be sufficient to recover the recorded value of the assets, the assets are written down to their estimated fair values based on the expected discounted future cash flows attributable to the assets or based on appraisals. When assets are removed from operations and held for sale, Xilinx estimates impairment losses as the excess of the carrying value of the assets over their fair value. See "Note 8. Restructuring Charges" for more information about the Company’s write-offs of acquisition-related intangibles recorded in fiscal 2015. | ||||||||
Goodwill | ||||||||
Goodwill is not amortized but is subject to impairment tests on an annual basis, or more frequently if indicators of potential impairment exist, using a fair-value-based approach. Based on the impairment review performed during the fourth quarter of fiscal 2015, there was no impairment of goodwill in fiscal 2015. Unless there are indicators of impairment, the Company’s next impairment review for goodwill will be performed and completed in the fourth quarter of fiscal 2016. To date, no impairment indicators have been identified. | ||||||||
Revenue Recognition | ||||||||
Sales to distributors are made under agreements providing distributor price adjustments and rights of return under certain circumstances. Revenue and costs relating to distributor sales are deferred until products are sold by the distributors to the distributors’ end customers. For fiscal 2015, approximately 54% of the Company’s net revenues were from products sold to distributors for subsequent resale to OEMs or their subcontract manufacturers. Revenue recognition depends on notification from the distributor that product has been sold to the distributor’s end customer. Also reported by the distributor are product resale price, quantity and end customer shipment information, as well as inventory on hand. Reported distributor inventory on hand is reconciled to deferred revenue balances monthly. The Company maintains system controls to validate distributor data and to verify that the reported information is accurate. Deferred income on shipments to distributors reflects the estimated effects of distributor price adjustments and the amount of gross margin expected to be realized when distributors sell through product purchased from the Company. Accounts receivable from distributors are recognized and inventory is relieved when title to inventories transfers, typically upon shipment from Xilinx at which point the Company has a legally enforceable right to collection under normal payment terms. | ||||||||
As of March 28, 2015, the Company had $87.7 million of deferred revenue and $21.6 million of deferred cost of revenues recognized as a net $66.1 million of deferred income on shipments to distributors. As of March 29, 2014, the Company had $75.2 million of deferred revenue and $20.1 million of deferred cost of revenues recognized as a net $55.1 million of deferred income on shipments to distributors. The deferred income on shipments to distributors that will ultimately be recognized in the Company’s consolidated statement of income will be different than the amount shown on the consolidated balance sheet due to actual price adjustments issued to the distributors when the product is sold to their end customers. | ||||||||
Revenue from sales to the Company’s direct customers is recognized upon shipment provided that persuasive evidence of a sales arrangement exists, the price is fixed or determinable, title has transferred, collection of resulting receivables is reasonably assured, and there are no customer acceptance requirements and no remaining significant obligations. For each of the periods presented, there were no significant acceptance provisions with the Company’s direct customers. | ||||||||
Revenue from software licenses is deferred and recognized as revenue over the term of the licenses of one year. Revenue from support services is recognized when the service is performed. Revenue from Support Products, which includes software and services sales, was less than 5% of net revenues for all of the periods presented. | ||||||||
Allowances for end customer sales returns are recorded based on historical experience and for known pending customer returns or allowances. | ||||||||
Foreign Currency Translation | ||||||||
The U.S. dollar is the functional currency for the Company’s Ireland and Singapore subsidiaries. Monetary assets and liabilities that are not denominated in the functional currency are remeasured into U.S. dollars, and the resulting gains or losses are included in the consolidated statements of income under interest and other expense, net. The remeasurement gains or losses were immaterial for all fiscal periods presented. | ||||||||
The local currency is the functional currency for each of the Company’s other wholly-owned foreign subsidiaries. Assets and liabilities are translated from foreign currencies into U.S. dollars at month-end exchange rates and statements of income are translated at the average monthly exchange rates. Exchange gains or losses arising from translation of foreign currency denominated assets and liabilities (i.e., cumulative translation adjustment) are included as a component of accumulated other comprehensive income (loss) in stockholders’ equity. | ||||||||
Derivative Financial Instruments | ||||||||
To reduce financial risk, the Company periodically enters into financial arrangements as part of the Company’s ongoing asset and liability management activities. Xilinx uses derivative financial instruments to hedge fair values of underlying assets and liabilities or future cash flows which are exposed to foreign currency or commodity price fluctuations. The Company does not enter into derivative financial instruments for trading or speculative purposes. See "Note 5. Derivative Financial Instruments" for detailed information about the Company’s derivative financial instruments. | ||||||||
Research and Development Expenses | ||||||||
Research and development costs are current period expenses and charged to expense as incurred. | ||||||||
Stock-Based Compensation | ||||||||
The Company has equity incentive plans that are more fully discussed in "Note 6. Stock-Based Compensation Plans." The authoritative guidance of accounting for share-based payment requires the Company to measure the cost of all employee equity awards that are expected to be exercised based on the grant-date fair value of those awards and to record that cost as compensation expense over the period during which the employee is required to perform service in exchange for the award (over the vesting period of the award). The authoritative guidance of accounting for share-based payment requires cash flows resulting from excess tax benefits to be classified as a part of cash flows from financing activities. Excess tax benefits are realized tax benefits from tax deductions for exercised options in excess of the deferred tax asset attributable to stock compensation costs for such options. The exercise price of employee stock options is equal to the market price of Xilinx common stock (defined as the closing trading price reported by The NASDAQ Global Select Market) on the date of grant. Additionally, Xilinx’s ESPP is deemed a compensatory plan under the authoritative guidance of accounting for share-based payments. Accordingly, the ESPP is included in the computation of stock-based compensation expense. | ||||||||
The Company uses the straight-line attribution method to recognize stock-based compensation costs over the requisite service period of the award. Upon exercise, cancellation or expiration of stock options, deferred tax assets for options with multiple vesting dates are eliminated for each vesting period on a first-in, first-out basis as if each award had a separate vesting period. | ||||||||
Income Taxes | ||||||||
All income tax amounts reflect the use of the liability method under the accounting for income taxes, as interpreted by FASB authoritative guidance for measuring uncertain tax positions. Under this method, deferred tax assets and liabilities are determined based on the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial and income tax reporting purposes. | ||||||||
Product Warranty and Indemnification | ||||||||
The Company generally sells products with a limited warranty for product quality. The Company provides an accrual for known product issues if a loss is probable and can be reasonably estimated. As of the end of both fiscal 2015 and 2014, the accrual balance of the product warranty liability was immaterial. | ||||||||
The Company offers, subject to certain terms and conditions, to indemnify customers and distributors for costs and damages awarded against these parties in the event the Company’s hardware products are found to infringe third-party intellectual property rights, including patents, copyrights or trademarks, and to compensate certain customers for limited specified costs they actually incur in the event our hardware products experience epidemic failure. To a lesser extent, the Company may from time-to-time offer limited indemnification with respect to its software products. The terms and conditions of these indemnity obligations are limited by contract, which obligations are typically perpetual from the effective date of the agreement. The Company has historically received only a limited number of requests for indemnification under these provisions and has not made any significant payments pursuant to these provisions. The Company cannot estimate the maximum amount of potential future payments, if any, that the Company may be required to make as a result of these obligations due to the limited history of indemnification claims and the unique facts and circumstances that are likely to be involved in each particular claim and indemnification provision. However, there can be no assurances that the Company will not incur any financial liabilities in the future as a result of these obligations. | ||||||||
Concentrations of Credit Risk | ||||||||
Avnet, Inc. (Avnet), one of the Company’s distributors, distributes the Company’s products worldwide. As of March 28, 2015 and March 29, 2014, Avnet accounted for 67% and 55% of the Company’s total net accounts receivable, respectively. Resale of product through Avnet accounted for 43%, 46% and 46% of the Company’s worldwide net revenues in fiscal 2015, 2014 and 2013, respectively. The percentage of net accounts receivable due from Avnet and the percentage of worldwide net revenues from Avnet are consistent with historical patterns. | ||||||||
Xilinx is subject to concentrations of credit risk primarily in its trade accounts receivable and investments in debt securities to the extent of the amounts recorded on the consolidated balance sheet. The Company attempts to mitigate the concentration of credit risk in its trade receivables through its credit evaluation process, collection terms, distributor sales to diverse end customers and through geographical dispersion of sales. Xilinx generally does not require collateral for receivables from its end customers or from distributors. | ||||||||
No end customer accounted for more than 10% of the Company’s worldwide net revenues for any of the periods presented. | ||||||||
The Company mitigates concentrations of credit risk in its investments in debt securities by currently investing more than 90% of its portfolio in AA or higher grade securities as rated by Standard & Poor’s or Moody’s Investors Service. The Company’s methods to arrive at investment decisions are not solely based on the rating agencies’ credit ratings. Xilinx also performs additional credit due diligence and conducts regular portfolio credit reviews, including a review of counterparty credit risk related to the Company’s forward currency exchange contracts. Additionally, Xilinx limits its investments in the debt securities of a single issuer based upon the issuer’s credit rating and attempts to further mitigate credit risk by diversifying risk across geographies and type of issuer. | ||||||||
As of March 28, 2015, approximately 31% of the portfolio consisted of mortgage-backed securities. All of the mortgage-backed securities in the investment portfolio were issued by U.S. government-sponsored enterprises and agencies and are rated AA+ by Standard & Poor’s and AAA by Moody’s Investors Service. | ||||||||
The global credit markets may experience adverse conditions that negatively impact the values of various types of investment and non-investment grade securities. The global credit and capital markets may experience significant volatility and disruption due to instability in the global financial system, uncertainty related to global economic conditions and concerns regarding sovereign financial stability. Therefore, there is a risk that we may incur other-than-temporary impairment charges for certain types of investments should credit market conditions deteriorate. See "Note 4. Financial Instruments" for a table of the Company’s available-for-sale securities. | ||||||||
Recent Accounting Pronouncements | ||||||||
In January 2014, the Financial Accounting Standards Board (FASB) issued the authoritative guidance that permits reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. If the conditions are met, the guidance permits an entity to amortize the initial cost of the investment in proportion to the amount of tax credits and the other tax benefits received and recognize the net investment performance in the income statement as a component of income tax. The guidance will be effective for public companies for fiscal years and interim periods within those years beginning after December 15, 2014, which for Xilinx is its first quarter of fiscal 2016, and should be applied retrospectively for all periods presented. The Company does not expect this guidance to have significant impact on its consolidated financial statements. | ||||||||
In April 2014, the FASB issued the authoritative guidance that outlines a new global revenue recognition standard that replaces virtually all existing US GAAP and IFRS guidance on contracts with customers and the related other assets and deferred costs. The guidance provides a five-step process for recognizing revenue that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard also requires expanded qualitative and quantitative disclosures relating to the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. As currently issued, the standard is effective for Xilinx beginning in fiscal 2018, with no option to early adopt under US GAAP. The new standard is required to be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying it recognized at the date of initial application. The Company is currently evaluating the impact of this new guidance on its consolidated financial statements, including selection of the transition method. | ||||||||
In April 2015, the FASB issued the authoritative guidance that requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the debt liability rather than as an asset. The guidance will be effective for public companies for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years, which for Xilinx is its first quarter of fiscal 2017, with early adoption permitted for financial statements that have not been previously issued. The new standard is required to be applied retrospectively to all prior periods presented in the financial statements. An entity is also required in the year of adoption (and in interim periods within that year) to provide certain disclosures about the change in accounting principle, including the nature of and reason for the change, the transition method, a description of the prior-period information that has been retrospectively adjusted and the effect of the change on the financial statement line items (that is, debt issuance cost asset and the debt liability). The Company does not expect this guidance to have significant impact on its consolidated financial statements. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||
Mar. 28, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Fair Value Measurements | Fair Value Measurements | ||||||||||||||||
The guidance for fair value measurements established by the FASB defines fair value as the exchange price that would be received from selling an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which Xilinx would transact and also considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions and risk of nonperformance. | |||||||||||||||||
The Company determines the fair value for marketable debt securities using industry standard pricing services, data providers and other third-party sources and by internally performing valuation testing and analysis. The Company primarily uses a consensus price or weighted-average price for its fair value assessment. The Company determines the consensus price using market prices from a variety of industry standard pricing services, data providers, security master files from large financial institutions and other third party sources and uses those multiple prices as inputs into a distribution-curve-based algorithm to determine the daily market value. The pricing services use multiple inputs to determine market prices, including reportable trades, benchmark yield curves, credit spreads and broker/dealer quotes as well as other industry and economic events. For certain securities with short maturities, such as discount commercial paper and certificates of deposit, the security is accreted from purchase price to face value at maturity. If a subsequent transaction on the same security is observed in the marketplace, the price on the subsequent transaction is used as the current daily market price and the security will be accreted to face value based on the revised price. For certain other securities, such as student loan auction rate securities, the Company performs its own valuation analysis using a discounted cash flow pricing model. | |||||||||||||||||
The Company validates the consensus prices by taking random samples from each asset type and corroborating those prices using reported trade activity, benchmark yield curves, binding broker/dealer quotes or other relevant price information. There have not been any changes to the Company’s fair value methodology during fiscal 2015 and the Company did not adjust or override any fair value measurements as of March 28, 2015. | |||||||||||||||||
Fair Value Hierarchy | |||||||||||||||||
The fair value framework requires the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities. The guidance for fair value measurements requires that assets and liabilities carried at fair value be classified and disclosed in one of the following categories: | |||||||||||||||||
Level 1 — Quoted (unadjusted) prices in active markets for identical assets or liabilities. | |||||||||||||||||
The Company’s Level 1 assets consist of U.S. government and agency securities and money market funds. | |||||||||||||||||
Level 2 — Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. | |||||||||||||||||
The Company’s Level 2 assets consist of financial institution securities, non-financial institution securities, municipal bonds, U.S. agency securities, foreign government and agency securities, mortgage-backed securities, asset-backed securities, bank loans and debt mutual funds. The Company’s Level 2 assets and liabilities also include foreign currency forward contracts and commodity swap contracts. | |||||||||||||||||
Level 3 — Unobservable inputs to the valuation methodology that are supported by little or no market activity and that are significant to the measurement of the fair value of the assets or liabilities. Level 3 assets and liabilities include those whose fair value measurements are determined using pricing models, discounted cash flow methodologies or similar valuation techniques, as well as significant management judgment or estimation. | |||||||||||||||||
The Company’s Level 3 assets and liabilities include student loan auction rate securities. | |||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | |||||||||||||||||
In instances where the inputs used to measure fair value fall into different levels of the fair value hierarchy, the fair value measurement has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular item to the fair value measurement in its entirety requires judgment, including the consideration of inputs specific to the asset or liability. The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis as of March 28, 2015 and March 29, 2014: | |||||||||||||||||
March 28, 2015 | |||||||||||||||||
(In thousands) | Quoted | Significant | Significant | Total Fair | |||||||||||||
Prices in | Other | Unobservable | Value | ||||||||||||||
Active | Observable | Inputs | |||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||
Identical | (Level 2) | ||||||||||||||||
Instruments | |||||||||||||||||
(Level 1) | |||||||||||||||||
Assets | |||||||||||||||||
Cash and cash equivalents: | |||||||||||||||||
Money market funds | $ | 235,583 | $ | — | $ | — | $ | 235,583 | |||||||||
Financial institution securities | — | 229,999 | — | 229,999 | |||||||||||||
Non-financial institution securities | — | 89,995 | — | 89,995 | |||||||||||||
U.S. government and agency securities | — | 200,392 | — | 200,392 | |||||||||||||
Foreign government and agency securities | — | 37,996 | — | 37,996 | |||||||||||||
Short-term investments: | |||||||||||||||||
Financial institution securities | — | 75,000 | — | 75,000 | |||||||||||||
Non-financial institution securities | — | 339,029 | — | 339,029 | |||||||||||||
Municipal bonds | — | 40,006 | — | 40,006 | |||||||||||||
U.S. government and agency securities | 256,514 | 301,010 | — | 557,524 | |||||||||||||
Foreign government and agency securities | — | 159,936 | — | 159,936 | |||||||||||||
Mortgage-backed securities | — | 897,776 | — | 897,776 | |||||||||||||
Debt mutual fund | — | 38,608 | — | 38,608 | |||||||||||||
Bank loans | — | 98,100 | — | 98,100 | |||||||||||||
Asset-backed securities | — | 204,510 | — | 204,510 | |||||||||||||
Long-term investments: | |||||||||||||||||
Auction rate securities | — | — | 10,312 | 10,312 | |||||||||||||
Municipal bonds | — | 9,650 | — | 9,650 | |||||||||||||
Mortgage-backed securities | — | 182,400 | — | 182,400 | |||||||||||||
Debt mutual fund | — | 56,592 | — | 56,592 | |||||||||||||
Asset-backed securities | — | 7,948 | — | 7,948 | |||||||||||||
Total assets measured at fair value | $ | 492,097 | $ | 2,968,947 | $ | 10,312 | $ | 3,471,356 | |||||||||
Liabilities | |||||||||||||||||
Derivative financial instruments, net | $ | — | $ | 9,251 | $ | — | $ | 9,251 | |||||||||
Total liabilities measured at fair value | $ | — | $ | 9,251 | $ | — | $ | 9,251 | |||||||||
Net assets measured at fair value | $ | 492,097 | $ | 2,959,696 | $ | 10,312 | $ | 3,462,105 | |||||||||
29-Mar-14 | |||||||||||||||||
(In thousands) | Quoted | Significant | Significant | Total Fair | |||||||||||||
Prices in | Other | Unobservable | Value | ||||||||||||||
Active | Observable | Inputs | |||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||
Identical | (Level 2) | ||||||||||||||||
Instruments | |||||||||||||||||
(Level 1) | |||||||||||||||||
Assets | |||||||||||||||||
Cash and cash equivalents: | |||||||||||||||||
Money market funds | $ | 213,988 | $ | — | $ | — | $ | 213,988 | |||||||||
Financial institution securities | — | 131,990 | — | 131,990 | |||||||||||||
Non-financial institution securities | — | 319,970 | — | 319,970 | |||||||||||||
U.S. government and agency securities | 69,998 | — | — | 69,998 | |||||||||||||
Foreign government and agency securities | — | 194,984 | — | 194,984 | |||||||||||||
Short-term investments: | |||||||||||||||||
Financial institution securities | — | 234,916 | — | 234,916 | |||||||||||||
Non-financial institution securities | — | 226,828 | — | 226,828 | |||||||||||||
Municipal Bonds | — | 15,780 | — | 15,780 | |||||||||||||
U.S. government and agency securities | 349,023 | 89,422 | — | 438,445 | |||||||||||||
Foreign government and agency securities | — | 159,951 | — | 159,951 | |||||||||||||
Mortgage-backed securities | — | 387,508 | — | 387,508 | |||||||||||||
Debt mutual fund | — | 20,216 | — | 20,216 | |||||||||||||
Long-term investments: | |||||||||||||||||
Non-financial institution securities | — | 209,274 | — | 209,274 | |||||||||||||
Auction rate securities | — | — | 20,160 | 20,160 | |||||||||||||
Municipal bonds | — | 15,986 | — | 15,986 | |||||||||||||
U.S. government and agency securities | 4,950 | 36,126 | — | 41,076 | |||||||||||||
Mortgage-backed securities | — | 847,581 | — | 847,581 | |||||||||||||
Debt mutual fund | — | 56,698 | — | 56,698 | |||||||||||||
Derivative financial instruments, net | — | 1,713 | — | 1,713 | |||||||||||||
Total assets measured at fair value | $ | 637,959 | $ | 2,948,943 | $ | 20,160 | $ | 3,607,062 | |||||||||
Changes in Level 3 Instruments Measured at Fair Value on a Recurring Basis | |||||||||||||||||
The following table is a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3): | |||||||||||||||||
Years Ended | |||||||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | |||||||||||||||
Balance as of beginning of period | $ | 20,160 | $ | 27,610 | |||||||||||||
Total realized and unrealized gains (losses): | |||||||||||||||||
Included in interest and other expense, net | — | 1,090 | |||||||||||||||
Included in other comprehensive income (loss) | 1,152 | 1,760 | |||||||||||||||
Sales and settlements, net (1) | (11,000 | ) | (10,300 | ) | |||||||||||||
Balance as of end of period | $ | 10,312 | $ | 20,160 | |||||||||||||
-1 | During fiscal 2015 and 2014, the Company redeemed $11.0 million and $10.3 million of student loan auction rate securities, respectively, for cash at par value. | ||||||||||||||||
The amount of total gains or (losses) included in net income attributable to the change in unrealized gains or (losses) relating to assets and liabilities still held as of the end of the period are summarized as follows: | |||||||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||||||
Included in interest and other expense, net | $ | — | $ | — | $ | (159 | ) | ||||||||||
As of March 28, 2015, marketable securities measured at fair value using Level 3 inputs were comprised of $10.3 million of student loan auction rate securities. | |||||||||||||||||
Financial Instruments Not Recorded at Fair Value on a Recurring Basis | |||||||||||||||||
The Company’s 2017 Convertible Notes, 2019 Notes and 2021 Notes are measured at fair value on a quarterly basis for disclosure purposes. The fair values of the 2017 Convertible Notes, 2019 Notes and 2021 Notes as of March 28, 2015 were approximately $843.5 million, $501.4 million and $512.0 million, respectively, based on the last trading price of the respective debentures for the period (classified as Level 2 in fair value hierarchy due to relatively low trading volume). |
Financial_Instruments
Financial Instruments | 12 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 28, 2015 | |||||||||||||||||||||||||||||||||
Investments, All Other Investments [Abstract] | |||||||||||||||||||||||||||||||||
Financial Instruments | Financial Instruments | ||||||||||||||||||||||||||||||||
The following is a summary of cash equivalents and available-for-sale securities as of the end of the periods presented: | |||||||||||||||||||||||||||||||||
March 28, 2015 | 29-Mar-14 | ||||||||||||||||||||||||||||||||
(In thousands) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | |||||||||||||||||||||||||
Money market funds | $ | 235,583 | $ | — | $ | — | $ | 235,583 | $ | 213,988 | $ | — | $ | — | $ | 213,988 | |||||||||||||||||
Financial institution | |||||||||||||||||||||||||||||||||
securities | 304,999 | — | — | 304,999 | 366,906 | — | — | 366,906 | |||||||||||||||||||||||||
Non-financial institution | |||||||||||||||||||||||||||||||||
securities | 429,005 | 25 | (6 | ) | 429,024 | 753,888 | 3,428 | (1,244 | ) | 756,072 | |||||||||||||||||||||||
Auction rate securities | 10,500 | — | (188 | ) | 10,312 | 21,500 | — | (1,340 | ) | 20,160 | |||||||||||||||||||||||
Municipal bonds | 49,064 | 744 | (152 | ) | 49,656 | 31,367 | 604 | (205 | ) | 31,766 | |||||||||||||||||||||||
U.S. government and | |||||||||||||||||||||||||||||||||
agency securities | 757,954 | 91 | (129 | ) | 757,916 | 548,568 | 1,135 | (184 | ) | 549,519 | |||||||||||||||||||||||
Foreign government and | |||||||||||||||||||||||||||||||||
agency securities | 197,932 | — | — | 197,932 | 354,935 | — | — | 354,935 | |||||||||||||||||||||||||
Mortgage-backed securities | 1,075,730 | 8,942 | (4,496 | ) | 1,080,176 | 1,234,237 | 11,380 | (10,528 | ) | 1,235,089 | |||||||||||||||||||||||
Asset-backed securities | 211,487 | 1,130 | (159 | ) | 212,458 | — | — | — | — | ||||||||||||||||||||||||
Debt mutual funds | 101,350 | — | (6,150 | ) | 95,200 | 81,350 | 216 | (4,652 | ) | 76,914 | |||||||||||||||||||||||
Bank loans | 98,131 | 29 | (60 | ) | 98,100 | — | — | — | — | ||||||||||||||||||||||||
$ | 3,471,735 | $ | 10,961 | $ | (11,340 | ) | $ | 3,471,356 | $ | 3,606,739 | $ | 16,763 | $ | (18,153 | ) | $ | 3,605,349 | ||||||||||||||||
The following tables show the fair values and gross unrealized losses of the Company’s investments, aggregated by investment category, for individual securities that have been in a continuous unrealized loss position for the length of time specified, as of March 28, 2015 and March 29, 2014: | |||||||||||||||||||||||||||||||||
March 28, 2015 | |||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | |||||||||||||||||||||||||||||||
(In thousands) | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | |||||||||||||||||||||||||||
Non-financial institution securities | $ | 7,190 | $ | (6 | ) | $ | — | $ | — | $ | 7,190 | $ | (6 | ) | |||||||||||||||||||
Auction rate securities | — | — | 10,312 | (188 | ) | 10,312 | (188 | ) | |||||||||||||||||||||||||
Municipal bonds | 10,014 | (94 | ) | 1,931 | (58 | ) | 11,945 | (152 | ) | ||||||||||||||||||||||||
U.S. government and | |||||||||||||||||||||||||||||||||
agency securities | 451,296 | (129 | ) | — | — | 451,296 | (129 | ) | |||||||||||||||||||||||||
Mortgage-backed securities | 448,770 | (3,169 | ) | 49,207 | (1,327 | ) | 497,977 | (4,496 | ) | ||||||||||||||||||||||||
Asset-backed securities | 75,009 | (159 | ) | — | — | 75,009 | (159 | ) | |||||||||||||||||||||||||
Debt mutual funds | 38,608 | (1,392 | ) | 56,592 | (4,758 | ) | 95,200 | (6,150 | ) | ||||||||||||||||||||||||
Bank loans | 65,085 | (60 | ) | — | — | 65,085 | (60 | ) | |||||||||||||||||||||||||
$ | 1,095,972 | $ | (5,009 | ) | $ | 118,042 | $ | (6,331 | ) | $ | 1,214,014 | $ | (11,340 | ) | |||||||||||||||||||
29-Mar-14 | |||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | |||||||||||||||||||||||||||||||
(In thousands) | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | |||||||||||||||||||||||||||
Non-financial institution securities | $ | 112,470 | $ | (1,167 | ) | $ | 4,488 | $ | (77 | ) | $ | 116,958 | $ | (1,244 | ) | ||||||||||||||||||
Auction rate securities | — | — | 20,160 | (1,340 | ) | 20,160 | (1,340 | ) | |||||||||||||||||||||||||
Municipal bonds | 5,917 | (166 | ) | 1,743 | (39 | ) | 7,660 | (205 | ) | ||||||||||||||||||||||||
U.S. government and | |||||||||||||||||||||||||||||||||
agency securities | 118,125 | (184 | ) | — | — | 118,125 | (184 | ) | |||||||||||||||||||||||||
Mortgage-backed securities | 457,903 | (7,225 | ) | 132,376 | (3,303 | ) | 590,279 | (10,528 | ) | ||||||||||||||||||||||||
Debt mutual fund | 56,698 | (4,652 | ) | — | — | 56,698 | (4,652 | ) | |||||||||||||||||||||||||
$ | 751,113 | $ | (13,394 | ) | $ | 158,767 | $ | (4,759 | ) | $ | 909,880 | $ | (18,153 | ) | |||||||||||||||||||
As of March 28, 2015, the gross unrealized losses that had been outstanding for less than twelve months were primarily related to mortgage-backed securities and debt mutual funds due to the general rising of the interest-rate environment and foreign currency movement, although the percentage of such losses to the total estimated fair value of the mortgage-backed securities and the debt mutual funds was relatively insignificant. The gross unrealized losses that had been outstanding for more than twelve months were primarily related to debt mutual funds and mortgage-backed securities, which were primarily due to the general rising of the interest-rate environment and foreign currency movement. | |||||||||||||||||||||||||||||||||
The Company reviewed the investment portfolio and determined that the gross unrealized losses on these investments as of March 28, 2015 and March 29, 2014 were temporary in nature as evidenced by the fluctuations in the gross unrealized losses within the investment categories. These investments are highly rated by the credit rating agencies and there have been no defaults on any of these securities, and we have received interest payments as they become due. Additionally, in the past several years a portion of the Company's investment in the auction rate securities and the mortgage-backed securities were redeemed or prepaid by the debtors at par. Furthermore, the aggregate of individual unrealized losses that had been outstanding for twelve months or more was not significant as of March 28, 2015 and March 29, 2014. The Company neither intends to sell these investments nor concludes that it is more-likely-than-not that it will have to sell them until recovery of their carrying values. The Company also believes that it will be able to collect both principal and interest amounts due to the Company at maturity, given the high credit quality of these investments and any related underlying collateral. | |||||||||||||||||||||||||||||||||
The amortized cost and estimated fair value of marketable debt securities (financial institution securities, non-financial institution securities, auction rate securities, municipal bonds, U.S. and foreign government and agency securities, mortgage-backed securities, asset-backed securities and bank loans), by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because issuers may have the right to call or prepay obligations without call or prepayment penalties. | |||||||||||||||||||||||||||||||||
March 28, 2015 | |||||||||||||||||||||||||||||||||
(In thousands) | Amortized | Estimated | |||||||||||||||||||||||||||||||
Cost | Fair Value | ||||||||||||||||||||||||||||||||
Due in one year or less | $ | 1,583,478 | $ | 1,583,407 | |||||||||||||||||||||||||||||
Due after one year through five years | 334,112 | 334,318 | |||||||||||||||||||||||||||||||
Due after five years through ten years | 293,754 | 294,645 | |||||||||||||||||||||||||||||||
Due after ten years | 923,459 | 928,202 | |||||||||||||||||||||||||||||||
$ | 3,134,803 | $ | 3,140,572 | ||||||||||||||||||||||||||||||
As of March 28, 2015, $1.39 billion of marketable debt securities with contractual maturities of greater than one year were classified as short-term investments. Additionally, the above table did not include investments in money market and mutual funds because these funds do not have specific contractual maturities. | |||||||||||||||||||||||||||||||||
Certain information related to available-for-sale securities is as follows: | |||||||||||||||||||||||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||||||||||||||||||||||
Gross realized gains on sale of available-for-sale securities | $ | 15,101 | $ | 2,080 | $ | 3,488 | |||||||||||||||||||||||||||
Gross realized losses on sale of available-for-sale securities | (3,223 | ) | (2,412 | ) | (673 | ) | |||||||||||||||||||||||||||
Net realized gains (losses) on sale of available-for-sale securities | $ | 11,878 | $ | (332 | ) | $ | 2,815 | ||||||||||||||||||||||||||
Amortization of premiums on available-for-sale securities | $ | 23,579 | $ | 27,293 | $ | 25,123 | |||||||||||||||||||||||||||
The cost of securities matured or sold is based on the specific identification method. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | |||||||||
Mar. 28, 2015 | ||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||
Derivative Financial Instruments | Derivative Financial Instruments | |||||||||
The Company’s primary objective for holding derivative financial instruments is to manage foreign currency exchange rate risk and interest rate risk. As a result of the use of derivative financial instruments, the Company is exposed to the risk that counterparties to derivative contracts may fail to meet their contractual obligations. The Company manages counterparty credit risk in derivative contracts by reviewing counterparty creditworthiness on a regular basis, establishing collateral requirement and limiting exposure to any single counterparty. The right of set-off that exists with certain transactions enables the Company to net amounts due to and from the counterparty, reducing the maximum loss from credit risk in the event of counterparty default. | ||||||||||
As of March 28, 2015 and March 29, 2014, the Company had the following outstanding forward currency exchange contracts (in notional amount), which were derivative financial instruments: | ||||||||||
(In thousands and U.S. dollars) | March 28, 2015 | 29-Mar-14 | ||||||||
Singapore Dollar | $ | 43,901 | $ | 60,551 | ||||||
Euro | 29,973 | 46,062 | ||||||||
Indian Rupee | 22,228 | 18,631 | ||||||||
British Pound | 12,946 | 12,056 | ||||||||
Japanese Yen | 4,994 | 9,273 | ||||||||
$ | 114,042 | $ | 146,573 | |||||||
As part of the Company’s strategy to reduce volatility of operating expenses due to foreign exchange rate fluctuations, the Company employs a hedging program with a forward outlook of up to two years for major foreign-currency-denominated operating expenses. The outstanding forward currency exchange contracts expire at various dates through November 2016. The net unrealized losses, which approximate the fair market value of the outstanding forward currency exchange contracts, are expected to be realized into net income within the next two years. | ||||||||||
As of March 28, 2015, all of the forward foreign currency exchange contracts were designated and qualified as cash flow hedges and the effective portion of the gain or loss on the forward contracts was reported as a component of other comprehensive income (loss) and reclassified into net income in the same period during which the hedged transaction affects earnings. The estimated amount of such gains or losses as of March 28, 2015 that is expected to be reclassified into earnings was not material. The ineffective portion of the gains or losses on the forward contracts was included in the net income for all periods presented. | ||||||||||
The Company may enter into forward foreign currency exchange contracts to hedge firm commitments such as acquisitions and capital expenditures. Gains and losses on foreign currency forward contracts that are designated as hedges of anticipated transactions, for which a firm commitment has been attained and the hedged relationship has been effective, are deferred and included in income or expenses in the same period that the underlying transaction is settled. Gains and losses on any instruments not meeting the above criteria are recognized in income or expenses in the consolidated statements of income as they are incurred. | ||||||||||
The Company had the following derivative instruments as of March 28, 2015 and March 29, 2014, located on the consolidated balance sheet, utilized for risk management purposes detailed above: | ||||||||||
Foreign Exchange Contracts | ||||||||||
Asset Derivatives | Liability Derivatives | |||||||||
(In thousands) | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | ||||||
March 28, 2015 | Prepaid expenses and other current assets | $ | — | Other accrued liabilities | $ | 9,320 | ||||
29-Mar-14 | Prepaid expenses and other current assets | $ | 2,648 | Other accrued liabilities | $ | 935 | ||||
The Company does not offset or net the fair value amounts of derivative financial instruments in its consolidated balance sheets. The potential effect of rights of set-off associated with the derivative financial instruments was not material to the Company's consolidated balance sheet for all periods presented. | ||||||||||
The following table summarizes the effect of derivative instruments on the consolidated statements of income for fiscal 2015 and 2014: | ||||||||||
Foreign Exchange Contracts | ||||||||||
(In thousands) | 2015 | 2014 | ||||||||
Amount of gains (losses) recognized in other comprehensive income on derivative (effective portion of cash flow hedging) | $ | (8,321 | ) | $ | 2,167 | |||||
Amount of losses reclassified from accumulated other comprehensive income into income (effective portion) * | $ | (2,753 | ) | $ | (1,707 | ) | ||||
Amount of gains (losses) recorded (ineffective portion) * | $ | 43 | $ | (13 | ) | |||||
* | Recorded in Interest and Other Expense location within the consolidated statements of income. |
StockBased_Compensation_Plans
Stock-Based Compensation Plans | 12 Months Ended | ||||||||||||
Mar. 28, 2015 | |||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||
Stock-Based Compensation Plans | Stock-Based Compensation Plans | ||||||||||||
The Company’s equity incentive plans are broad-based, long-term retention programs that cover employees, consultants and non-employee directors of the Company. These plans are intended to attract and retain talented employees, consultants and non-employee directors and to provide such persons with a proprietary interest in the Company. | |||||||||||||
Stock-Based Compensation | |||||||||||||
The following table summarizes stock-based compensation expense related to stock awards granted under the Company’s equity incentive plans and rights to acquire stock granted under the Company’s ESPP: | |||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||
Stock-based compensation included in: | |||||||||||||
Cost of revenues | $ | 8,101 | $ | 7,602 | $ | 6,356 | |||||||
Research and development | 50,185 | 46,197 | 37,937 | ||||||||||
Selling, general and administrative | 40,994 | 40,515 | 33,569 | ||||||||||
Restructuring charges | 579 | — | — | ||||||||||
Stock-based compensation effect on income before taxes | 99,859 | 94,314 | 77,862 | ||||||||||
Income tax effect | (29,268 | ) | (27,327 | ) | (22,137 | ) | |||||||
Net stock-based compensation effect on net income | $ | 70,591 | $ | 66,987 | $ | 55,725 | |||||||
In accordance with the authoritative guidance on accounting for share-based payments, the Company adjusts stock-based compensation on a quarterly basis for changes to the estimate of expected equity award forfeitures based on actual forfeiture experience. The effect of adjusting the forfeiture rate for all expense amortization was recognized in the period the forfeiture estimate was changed, and was not material for all periods presented. | |||||||||||||
As of March 28, 2015 and March 29, 2014, the ending inventory balances included $2.4 million of capitalized stock-based compensation. During fiscal 2015, 2014 and 2013, the tax benefit realized for the tax deduction from option exercises and other awards, including amounts credited to additional paid-in capital, totaled $55.0 million, $67.0 million and $32.6 million, respectively. | |||||||||||||
The fair values of stock options and stock purchase plan rights under the Company’s equity incentive plans and ESPP were estimated as of the grant date using the Black-Scholes option pricing model. The Company’s expected stock price volatility assumption for stock options is estimated using implied volatility of the Company’s traded options. The expected life of options granted is based on the historical exercise activity as well as the expected disposition of all options outstanding. The expected life of options granted also considers the actual contractual term. | |||||||||||||
The Company's stock-based compensation expense relating to options granted during fiscal 2015, 2014 and 2013 were not material. | |||||||||||||
The weighted-average fair value per share of stock purchase rights granted under the ESPP during fiscal 2015, 2014 and 2013 were $9.17, $11.11 and $8.61, respectively. These fair values per share were estimated at the date of grant using the following weighted-average assumptions: | |||||||||||||
Employee Stock Purchase Plan | |||||||||||||
2015 | 2014 | 2013 | |||||||||||
Expected life of options (years) | 1.3 | 1.3 | 1.3 | ||||||||||
Expected stock price volatility | 0.25 | 0.24 | 0.26 | ||||||||||
Risk-free interest rate | 0.3 | % | 0.2 | % | 0.2 | % | |||||||
Dividend yield | 2.9 | % | 2.4 | % | 2.7 | % | |||||||
The estimated fair values of restricted stock unit (RSU) awards were calculated based on the market price of Xilinx common stock on the date of grant, reduced by the present value of dividends expected to be paid on Xilinx common stock prior to vesting. The per share weighted-average fair value of RSUs granted during fiscal 2015, 2014 and 2013 were $43.11, $38.90 and $31.58, respectively. The weighted average fair value of RSUs granted in fiscal 2015, 2014 and 2013 were calculated based on estimates at the date of grant using the following weighted-average assumptions: | |||||||||||||
2015 | 2014 | 2013 | |||||||||||
Risk-free interest rate | 0.8 | % | 0.7 | % | 0.4 | % | |||||||
Dividend yield | 2.5 | % | 2.5 | % | 2.7 | % | |||||||
Options outstanding that have vested and are expected to vest in future periods as of March 28, 2015 are as follows: | |||||||||||||
(Shares and intrinsic value in thousands) | Number of Shares | Weighted-Average Exercise Price Per Share | Weighted-Average Remaining Contractual Term (Years) | Aggregate Intrinsic Value (1) | |||||||||
Vested (i.e., exercisable) | 3,173 | $24.59 | 1.51 | $ | 56,276 | ||||||||
Expected to vest | 70 | $34.32 | 3.83 | $ | 561 | ||||||||
Total vested and expected to vest | 3,243 | $24.80 | 1.56 | $ | 56,837 | ||||||||
Total outstanding | 3,247 | $24.81 | 1.57 | $ | 56,873 | ||||||||
-1 | These amounts represent the difference between the exercise price and $42.32, the closing price per share of Xilinx’s stock on March 28, 2015, for all in-the-money options outstanding. | ||||||||||||
Options outstanding that are expected to vest are net of estimated future option forfeitures in accordance with the authoritative guidance of accounting for share-based payment, which are estimated when compensation costs are recognized. Options with a fair value of $1.8 million completed vesting during fiscal 2015. As of March 28, 2015, total unrecognized stock-based compensation costs related to stock options and ESPP were $467 thousand and $24.7 million, respectively. The total unrecognized stock-based compensation cost for stock options and ESPP is expected to be recognized over a weighted-average period of 1.5 years and 1.3 years, respectively. | |||||||||||||
Employee Stock Option Plans | |||||||||||||
Under the Company’s stock option plans (Option Plans), options reserved for future issuance of common shares to employees and directors of the Company total 18.6 million shares as of March 28, 2015, including 15.4 million shares available for future grants under the 2007 Equity Incentive Plan (2007 Equity Plan). Options to purchase shares of the Company’s common stock under the Option Plans are granted at 100% of the fair market value of the stock on the date of grant. The contractual term for stock awards granted under the 2007 Equity Plan is seven years from the grant date. Prior to April 1, 2007, stock options granted by the Company generally expire ten years from the grant date. Stock awards granted to existing and newly hired employees generally vest over a four-year period from the date of grant. | |||||||||||||
A summary of shares available for grant under the 2007 Equity Plan is as follows: | |||||||||||||
(Shares in thousands) | Shares Available for Grant | ||||||||||||
March 31, 2012 | 14,908 | ||||||||||||
Additional shares reserved | 3,500 | ||||||||||||
Stocks options granted | (92 | ) | |||||||||||
Stock options cancelled | 209 | ||||||||||||
RSUs granted | (3,018 | ) | |||||||||||
RSUs cancelled | 483 | ||||||||||||
March 30, 2013 | 15,990 | ||||||||||||
Additional shares reserved | 2,000 | ||||||||||||
Stocks options granted | (8 | ) | |||||||||||
Stock options cancelled | 26 | ||||||||||||
RSUs granted | (3,297 | ) | |||||||||||
RSUs cancelled | 326 | ||||||||||||
March 29, 2014 | 15,037 | ||||||||||||
Additional shares reserved | 3,000 | ||||||||||||
Stocks options granted | — | ||||||||||||
Stock options cancelled | 6 | ||||||||||||
RSUs granted | (3,201 | ) | |||||||||||
RSUs cancelled | 531 | ||||||||||||
March 28, 2015 | 15,373 | ||||||||||||
The types of awards allowed under the 2007 Equity Plan include incentive stock options, non-qualified stock options, RSUs, restricted stock and stock appreciation rights. To date, the Company has issued a mix of non-qualified stock options and RSUs under the 2007 Equity Plan. | |||||||||||||
A summary of the Company’s Option Plans activity and related information is as follows: | |||||||||||||
Options Outstanding | |||||||||||||
(Shares in thousands) | Number of Shares | Weighted-Average Exercise Price Per Share | |||||||||||
31-Mar-12 | 17,788 | $28.32 | |||||||||||
Granted | 92 | $33.83 | |||||||||||
Exercised | (3,564 | ) | $24.68 | ||||||||||
Forfeited/cancelled/expired | (1,563 | ) | $39.54 | ||||||||||
30-Mar-13 | 12,753 | $28.01 | |||||||||||
Granted | 8 | $41.08 | |||||||||||
Exercised | (7,421 | ) | $29.95 | ||||||||||
Forfeited/cancelled/expired | (60 | ) | $35.61 | ||||||||||
29-Mar-14 | 5,280 | $25.22 | |||||||||||
Granted | — | — | |||||||||||
Exercised | (2,009 | ) | $25.80 | ||||||||||
Forfeited/cancelled/expired | (24 | ) | $32.22 | ||||||||||
March 28, 2015 | 3,247 | $24.81 | |||||||||||
Options exercisable at: | |||||||||||||
March 28, 2015 | 3,173 | $24.59 | |||||||||||
March 29, 2014 | 4,935 | $24.87 | |||||||||||
The total pre-tax intrinsic value of options exercised during fiscal 2015 and 2014 was $37.3 million and $119.6 million, respectively. This intrinsic value represents the difference between the exercise price and the fair market value of the Company’s common stock on the date of exercise. | |||||||||||||
Since the Company adopted the policy of retiring all repurchased shares of its common stock, new shares are issued upon employees’ exercise of their stock options. | |||||||||||||
The following information relates to options outstanding and exercisable under the Option Plans as of March 28, 2015: | |||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||
Weighted- | Weighted- | Weighted- | |||||||||||
(Shares in thousands) | Average | Average | Average | ||||||||||
Remaining | Exercise | Exercise | |||||||||||
Options | Contractual Term | Price Per | Options | Price Per | |||||||||
Range of Exercise Prices | Outstanding | (Years) | Share | Exercisable | Share | ||||||||
$15.95 - $19.79 | 74 | 0.98 | $18.21 | 74 | $15.95 | ||||||||
$20.57 - $29.27 | 2,945 | 1.41 | $24.27 | 2,944 | $20.57 | ||||||||
$30.21 - $38.56 | 227 | 3.73 | $33.94 | 154 | $30.21 | ||||||||
$40.37 - $40.37 | 1 | 5.21 | $40.37 | 1 | $40.37 | ||||||||
3,247 | 1.57 | $24.81 | 3,173 | $24.59 | |||||||||
RSU Awards | |||||||||||||
A summary of the Company’s RSU activity and related information is as follows: | |||||||||||||
RSUs Outstanding | |||||||||||||
(Shares and intrinsic value in thousands) | Number of Shares | Weighted-Average Grant-Date Fair Value Per Share | Weighted Average Remaining Contractual Term (Years) | Aggregate Intrinsic Value (1) | |||||||||
31-Mar-12 | 5,239 | $29.01 | |||||||||||
Granted | 3,018 | $31.58 | |||||||||||
Vested (2) | (1,778 | ) | $27.01 | ||||||||||
Cancelled | (483 | ) | $29.69 | ||||||||||
30-Mar-13 | 5,996 | $30.83 | |||||||||||
Granted | 3,297 | $38.90 | |||||||||||
Vested (2) | (2,066 | ) | $29.25 | ||||||||||
Cancelled | (326 | ) | $32.28 | ||||||||||
29-Mar-14 | 6,901 | $35.08 | |||||||||||
Granted | 3,201 | $43.11 | |||||||||||
Vested (2) | (2,698 | ) | $33.82 | ||||||||||
Cancelled | (531 | ) | $32.91 | ||||||||||
March 28, 2015 | 6,873 | $39.07 | 2.29 | $ | 291,021 | ||||||||
Expected to vest as of March 28, 2015 | 5,814 | $39.00 | 2.3 | $ | 246,045 | ||||||||
-1 | Aggregate intrinsic value for RSUs represents the closing price per share of Xilinx’s stock on March 28, 2015 of $42.32, multiplied by the number of RSUs outstanding or expected to vest as of March 28, 2015. | ||||||||||||
-2 | The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements. | ||||||||||||
RSUs with a fair value of $91.2 million were vested during fiscal 2015. As of March 28, 2015, total unrecognized stock-based compensation costs related to non-vested RSUs was $180.6 million. The total unrecognized stock-based compensation cost for RSUs is expected to be recognized over a weighted-average period of 2.6 years. | |||||||||||||
Employee Stock Purchase Plan | |||||||||||||
Under the Company’s ESPP, qualified employees can obtain a 24-month purchase right to purchase the Company’s common stock at the end of each six-month exercise period. Participation is limited to 15% of the employee’s annual earnings up to a maximum of $21 thousand in a calendar year. Approximately 84% of all eligible employees participate in the ESPP. The purchase price of the stock is 85% of the lower of the fair market value at the beginning of the 24-month offering period or at the end of each six-month exercise period. Employees purchased 1.2 million shares for $39.0 million in fiscal 2015, 1.2 million shares for $37.9 million in fiscal 2014, and 1.3 million shares for $34.5 million in fiscal 2013. The next scheduled purchase under the ESPP is in the second quarter of fiscal 2016. As of March 28, 2015, 10.5 million shares were available for future issuance. |
Balance_Sheet_Information
Balance Sheet Information | 12 Months Ended | |||||||
Mar. 28, 2015 | ||||||||
Payables and Accruals [Abstract] | ||||||||
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | Balance Sheet Information | |||||||
The following tables disclose the current liabilities that individually exceed 5% of the respective consolidated balance sheet amounts in each fiscal year. Individual balances that are less than 5% of the respective consolidated balance sheet amounts are aggregated and disclosed as "other." | ||||||||
(In thousands) | 2015 | 2014 | ||||||
Accrued payroll and related liabilities: | ||||||||
Accrued compensation | $ | 79,312 | $ | 90,865 | ||||
Deferred compensation plan liability | 70,163 | 59,569 | ||||||
Other | 7,125 | 6,939 | ||||||
$ | 156,600 | $ | 157,373 | |||||
Other accrued liabilities: | ||||||||
Interest payable | $ | 5,432 | $ | 5,935 | ||||
Forward currency exchange contracts | 9,320 | 935 | ||||||
Restructuring Charges | 14,634 | — | ||||||
Other | 35,290 | 42,386 | ||||||
$ | 64,676 | $ | 49,256 | |||||
Restructuring_Charges
Restructuring Charges | 12 Months Ended | |||||||||||||||
Mar. 28, 2015 | ||||||||||||||||
Restructuring Charges [Abstract] | ||||||||||||||||
Restructuring Charges | Restructuring Charges | |||||||||||||||
During the fourth quarter of fiscal 2015, the Company announced restructuring measures designed to realign resources and drive overall operating efficiencies. These measures impacted approximately 120 positions, or 3% of the Company's global workforce, in various geographies and functions worldwide. The reorganization plan will be substantially completed by the end of the first quarter of fiscal 2016. | ||||||||||||||||
The Company recorded total restructuring charges of $24.5 million in fiscal 2015, primarily related to severance pay expenses and write-offs of acquisition-related intangibles. | ||||||||||||||||
The following table summarizes the restructuring accrual activity for fiscal 2015: | ||||||||||||||||
(In thousands) | Employee severance and benefits | Write off of acquisition-related intangibles | Others | Total | ||||||||||||
Restructuring charges for the year ended March 28, 2015 | $ | 13,531 | $ | 6,578 | $ | 4,382 | $ | 24,491 | ||||||||
Cash payments | (2,647 | ) | — | — | (2,647 | ) | ||||||||||
Non-cash charges | (579 | ) | (6,578 | ) | (53 | ) | (7,210 | ) | ||||||||
Balance as of March 28, 2015 | $ | 10,305 | $ | — | $ | 4,329 | $ | 14,634 | ||||||||
The charges above have been shown separately as restructuring charges on the consolidated statements of income. The remaining accrual as of March 28, 2015 was primarily related to severance pay and benefits that are expected to be paid during fiscal 2016. |
Commitments
Commitments | 12 Months Ended | |||
Mar. 28, 2015 | ||||
Commitments and Contingencies Disclosure [Abstract] | ||||
Commitments | Commitments | |||
Xilinx leases some of its facilities and office buildings under non-cancelable operating leases that expire at various dates through October 2021. Additionally, Xilinx entered into a land lease in conjunction with the Company’s building in Singapore, which will expire in November 2035 and the lease cost was settled in an up-front payment in June 2006. Some of the operating leases for facilities and office buildings require payment of operating costs, including property taxes, repairs, maintenance and insurance. Most of the Company’s leases contain renewal options for varying terms. Approximate future minimum lease payments under non-cancelable operating leases are as follows: | ||||
Fiscal | (In thousands) | |||
2016 | $ | 5,418 | ||
2017 | 2,883 | |||
2018 | 2,523 | |||
2019 | 1,863 | |||
2020 | 1,391 | |||
Thereafter | 2,235 | |||
Total | $ | 16,313 | ||
Aggregate future rental income to be received, which includes rents from both owned and leased property, totaled $3.8 million as of March 28, 2015. Rent expense, net of rental income, under all operating leases was $3.2 million for fiscal 2015, $3.1 million for fiscal 2014, and $3.9 million for fiscal 2013. Rental income was not material for fiscal 2015, 2014 or 2013. | ||||
Other commitments as of March 28, 2015 totaled $106.3 million and consisted of purchases of inventory and other non-cancelable purchase obligations related to subcontractors that manufacture silicon wafers and provide assembly and some test services. The Company expects to receive and pay for these materials and services in the next three to six months, as the products meet delivery and quality specifications. As of March 28, 2015, the Company also had $35.6 million of non-cancelable license obligations to providers of electronic design automation software and hardware/software maintenance expiring at various dates through June 2017. |
Net_Income_Per_Common_Share
Net Income Per Common Share | 12 Months Ended | |||||||||||
Mar. 28, 2015 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Net Income Per Common Share | Net Income Per Common Share | |||||||||||
The computation of basic net income per common share for all periods presented is derived from the information on the consolidated statements of income, and there are no reconciling items in the numerator used to compute diluted net income per common share. The following table summarizes the computation of basic and diluted net income per common share: | ||||||||||||
(In thousands, except per share amounts) | 2015 | 2014 | 2013 | |||||||||
Net income available to common stockholders | $ | 648,216 | $ | 630,388 | $ | 487,536 | ||||||
Weighted average common shares outstanding-basic | 265,480 | 266,431 | 261,652 | |||||||||
Dilutive effect of employee equity incentive plans | 3,257 | 4,508 | 4,146 | |||||||||
Dilutive effect of 2017 Convertible Notes and warrants | 7,386 | 8,544 | 2,924 | |||||||||
Dilutive effect of 2037 Convertible Notes | — | 7,913 | 3,851 | |||||||||
Weighted average common shares outstanding-diluted | 276,123 | 287,396 | 272,573 | |||||||||
Basic earnings per common share | $ | 2.44 | $ | 2.37 | $ | 1.86 | ||||||
Diluted earnings per common share | $ | 2.35 | $ | 2.19 | $ | 1.79 | ||||||
The total shares used in the denominator of the diluted net income per common share calculation includes potentially dilutive common equivalent shares outstanding that are not included in basic net income per common share by applying the treasury stock method to the impact of the equity incentive plans and to the incremental shares issuable assuming conversion of the Company's convertible debt and warrants (see "Note 13. Debt and Credit Facility" for more discussion of our debt and warrants). | ||||||||||||
Outstanding stock options and RSUs under the Company's stock award plans and warrants to purchase approximately 24.3 million, 5.1 million and 27.9 million shares, for fiscal 2015, 2014 or 2013 respectively, were excluded from diluted net income per common share by applying the treasury stock method, as their inclusion would have been antidilutive. These options, RSUs and warrants could be dilutive in the future if the Company’s average share price increases and is greater than the combined exercise prices and the unamortized fair values of these options, RSUs and warrants. | ||||||||||||
To hedge against potential dilution upon conversion of the 2017 Convertible Notes, the Company also purchased call options on its common stock from the hedge counterparties. The call options give the Company the right to purchase up to 20.2 million shares of its common stock at $29.64 per share. These call options are not considered for purposes of calculating the total shares outstanding under the basic and diluted net income per share, as their effect would be anti-dilutive. Upon exercise, the call options would serve to neutralize the dilutive effect of the 2017 Convertible Notes and potentially reduce the weighted number of diluted shares used in per share calculations. |
Interest_and_Other_Expense_Net
Interest and Other Expense, Net | 12 Months Ended | |||||||||||
Mar. 28, 2015 | ||||||||||||
Other Income and Expenses [Abstract] | ||||||||||||
Interest and Other Expense, Net | Interest and Other Expense, Net | |||||||||||
The components of interest and other expense, net are as follows: | ||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | |||||||||
Interest income | $ | 35,876 | $ | 28,079 | $ | 25,574 | ||||||
Interest expense | (55,431 | ) | (54,035 | ) | (55,069 | ) | ||||||
Other income (expense), net | 4,553 | (3,597 | ) | (4,231 | ) | |||||||
$ | (15,002 | ) | $ | (29,553 | ) | $ | (33,726 | ) | ||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 12 Months Ended | |||||||
Mar. 28, 2015 | ||||||||
Equity [Abstract] | ||||||||
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Loss | |||||||
Comprehensive loss is defined as the change in equity of a company during a period from transactions and other events and circumstances from non-owner sources. The components of accumulated other comprehensive loss are as follows: | ||||||||
(In thousands) | 2015 | 2014 | ||||||
Accumulated unrealized losses on available-for-sale securities, net of tax | $ | (238 | ) | $ | (889 | ) | ||
Accumulated unrealized gains (losses) on hedging transactions, net of tax | (7,523 | ) | 798 | |||||
Accumulated cumulative translation adjustment, net of tax | (3,388 | ) | (457 | ) | ||||
Accumulated other comprehensive loss | $ | (11,149 | ) | $ | (548 | ) | ||
The related tax effects of other comprehensive loss were not material for all periods presented. |
Debt_and_Credit_Facility
Debt and Credit Facility | 12 Months Ended | ||||||||||||
Mar. 28, 2015 | |||||||||||||
Debt Disclosure [Abstract] | |||||||||||||
Debt and Credit Facility [Text Block] | Debt and Credit Facility | ||||||||||||
2017 Convertible Notes | |||||||||||||
As of March 28, 2015, the Company had $600.0 million principal amount of 2017 Convertible Notes outstanding. The 2017 Convertible Notes are senior in right of payment to the Company’s existing and future unsecured indebtedness that is expressly subordinated in right of payment to the 2017 Convertible Notes, and are ranked equally with all of our other existing and future unsecured senior indebtedness, including the 2019 and 2021 Notes discussed below. The Company may not redeem the 2017 Convertible Notes prior to maturity. | |||||||||||||
The 2017 Convertible Notes are convertible, subject to certain conditions, into shares of Xilinx common stock at a conversion rate of 33.7391 shares of common stock per $1 thousand principal amount of the 2017 Convertible Notes, representing an effective conversion price of approximately $29.64 per share of common stock. The conversion rate is subject to adjustment for certain events as outlined in the indenture governing the 2017 Convertible Notes but will not be adjusted for accrued interest. One of the conditions allowing holders of the 2017 Convertible Notes to convert during any fiscal quarter is if the last reported sale price of the Company's common stock for at least 20 trading days during a period of 30 consecutive trading days ending on the last trading day of the preceding fiscal quarter is greater than or equal to 130% of the conversion price on each applicable trading day. This condition was met as of March 28, 2015 and as a result, the 2017 Convertible Notes were convertible at the option of the holders. As of March 28, 2015, the 2017 Convertible Notes were classified as a current liability on the Company's consolidated balance sheet. Additionally, a portion of the equity component attributable to the conversion feature of the 2017 Convertible Notes was classified in temporary stockholders' equity. The amount classified as temporary equity was equal to the difference between the principal amount and carrying value of the 2017 Convertible Notes. | |||||||||||||
Upon conversion, the Company would pay the holders of the 2017 Convertible Notes cash up to the aggregate principal amount of the 2017 Convertible Notes. If the conversion value exceeds the principal amount, the Company would deliver shares of its common stock with respect to the remainder of its conversion obligation in excess of the aggregate principal amount (conversion spread). Accordingly, there would be no adjustment to the numerator in the net income per common share computation for the cash settled portion of the 2017 Convertible Notes, as that portion of the debt liability will always be settled in cash. The conversion spread will be included in the denominator for the computation of diluted net income per common share, using the treasury stock method. | |||||||||||||
The carrying values of the liability and equity components of the 2017 Convertible Notes are reflected in the Company’s consolidated balance sheets as follows: | |||||||||||||
(In thousands) | 2015 | 2014 | |||||||||||
Liability component: | |||||||||||||
Principal amount of the 2017 Convertible Notes | $ | 600,000 | $ | 600,000 | |||||||||
Unamortized discount of liability component | (33,679 | ) | (49,223 | ) | |||||||||
Hedge accounting adjustment – sale of interest rate swap | 9,732 | 14,224 | |||||||||||
Net carrying value of the 2017 Convertible Notes | $ | 576,053 | $ | 565,001 | |||||||||
Equity component (including temporary equity) – net carrying value | $ | 66,415 | $ | 66,415 | |||||||||
The remaining unamortized debt discount, net of the hedge accounting adjustment from the sale of the interest rate swap, is being amortized as additional non-cash interest expense over the expected remaining term of the 2017 Convertible Notes. As of March 28, 2015, the remaining term of the 2017 Convertible Notes is 2.2 years. As of March 28, 2015, the if-converted value of the 2017 Convertible Notes was $831.6 million. | |||||||||||||
Interest expense related to the 2017 Convertible Notes was included in interest and other expense, net on the consolidated statements of income as follows: | |||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||
Contractual coupon interest | $ | 15,750 | $ | 15,750 | $ | 15,750 | |||||||
Amortization of debt issuance costs | 1,448 | 1,448 | 1,448 | ||||||||||
Amortization of debt discount, net | 11,052 | 11,052 | 11,052 | ||||||||||
Total interest expense related to the 2017 Convertible Notes | $ | 28,250 | $ | 28,250 | $ | 28,250 | |||||||
To hedge against potential dilution upon conversion of the 2017 Convertible Notes, the Company also purchased call options on its common stock from the hedge counterparties. The call options give the Company the right to purchase up to 20.2 million shares of its common stock at $29.64 per share. The call options will terminate upon the earlier of the maturity of the 2017 Convertible Notes or the last day any of the 2017 Convertible Notes remain outstanding. To reduce the hedging cost, under separate transactions the Company sold warrants to the hedge counterparties, which give the hedge counterparties the right to purchase up to 20.2 million shares of the Company’s common stock at $41.99 per share. These warrants expire on a gradual basis over a specified period starting on September 13, 2017. | |||||||||||||
2019 and 2021 Notes | |||||||||||||
On March 12, 2014, the Company issued $500.0 million principal amount of 2019 Notes and $500.0 million principal amount of 2021 Notes with maturity dates of March 15, 2019 and March 15, 2021 respectively. The 2019 and 2021 Notes were offered to the public at a discounted price of 99.477% and 99.281% of par, respectively. Interest on the 2019 and 2021 Notes is payable semiannually on March 15 and September 15. | |||||||||||||
The Company received net proceeds of $990.1 million from issuance of the 2019 and 2021 Notes, after the debt discounts and deduction of debt issuance costs. The debt discounts and issuance costs are amortized to interest expense over the lives of the 2019 and 2021 Notes. | |||||||||||||
The following table summarizes the carrying value of the 2019 and 2021 Notes in the Company's consolidated balance sheets: | |||||||||||||
(In thousands) | 2015 | 2014 | |||||||||||
Principal amount of the 2019 Notes | $ | 500,000 | $ | 500,000 | |||||||||
Unamortized discount of the 2019 Notes | (2,073 | ) | (2,574 | ) | |||||||||
Principal amount of the 2021 Notes | 500,000 | 500,000 | |||||||||||
Unamortized discount of the 2021 Notes | (3,088 | ) | (3,556 | ) | |||||||||
Total senior notes | $ | 994,839 | $ | 993,870 | |||||||||
Interest expense related to the 2019 and 2021 Notes was included in interest and other expense, net on the consolidated statements of income as follows: | |||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||
Contractual coupon interest | $ | 25,625 | $ | 1,210 | $ | — | |||||||
Amortization of debt issuance costs | 586 | 52 | — | ||||||||||
Amortization of debt discount, net | 970 | 80 | — | ||||||||||
Total interest expense related to the 2019 and 2021 Notes | $ | 27,181 | $ | 1,342 | $ | — | |||||||
2037 Convertible Notes | |||||||||||||
On March 12, 2014, the Company paid $1.23 billion in cash to redeem all of the outstanding $689.6 million (principal amount) of its 2037 Convertible Notes. In accordance with the authoritative guidance for convertible debentures issued by the FASB, the redemption payment was allocated between the liability ($377.6 million) and equity ($856.5 million) components of the convertible debentures, using the equivalent rate that reflected the borrowing rate for a similar non-convertible debt prior to the redemption. As a result, the Company recognized a loss on extinguishment of convertible debentures of $9.8 million, net of the unamortized debt discount ($315.4 million), the write-off of the unamortized debt issuance costs ($5.1 million) and unamortized embedded derivative valuation ($1.3 million). | |||||||||||||
Prior to the redemption, interest expense related to the 2037 Convertible Notes was included in interest and other expense, net on the consolidated statements of income, and was recognized as follows: | |||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||
Contractual coupon interest | $ | — | $ | 20,065 | $ | 21,551 | |||||||
Amortization of debt issuance costs | — | 223 | 223 | ||||||||||
Amortization of embedded derivative | — | 58 | 58 | ||||||||||
Amortization of debt discount | — | 5,187 | 4,828 | ||||||||||
Fair value adjustment of embedded derivative | — | (1,090 | ) | 159 | |||||||||
Total interest expense related to the 2037 Convertible Notes | $ | — | $ | 24,443 | $ | 26,819 | |||||||
Revolving Credit Facility | |||||||||||||
On December 7, 2011, the Company entered into a $250.0 million senior unsecured revolving credit facility with a syndicate of banks (expiring in December 2016). Borrowings under the credit facility will bear interest at a benchmark rate plus an applicable margin based upon the Company’s credit rating. In connection with the credit facility, the Company is required to maintain certain financial and non-financial covenants. As of March 28, 2015, the Company had made no borrowings under this credit facility and was not in violation of any of the covenants. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended |
Mar. 28, 2015 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity | Stockholders’ Equity |
Preferred Stock | |
The Company’s Certificate of Incorporation authorized 2.0 million shares of undesignated preferred stock. The preferred stock may be issued in one or more series. The Board of Directors is authorized to determine or alter the rights, preferences, privileges and restrictions granted to, or imposed upon, any wholly unissued series of preferred stock. As of March 28, 2015 and March 29, 2014, no preferred shares were issued or outstanding. | |
Common Stock and Debentures Repurchase Programs | |
The Board of Directors has approved stock repurchase programs enabling the Company to repurchase its common stock in the open market or through negotiated transactions with independent financial institutions. In August 2012, the Board authorized the repurchase of up to $750.0 million of the Company’s common stock and debentures (2012 Repurchase Program). In November 2014, the Board authorized the repurchase of an additional $800.0 million of the Company's common stock (2014 Repurchase Program). The shares authorized for repurchase under the 2014 Repurchase Program are in addition to the shares authorized for purchase under the 2012 Repurchase Program. The 2012 and 2014 Repurchase Programs have no stated expiration date. | |
Through March 28, 2015, the Company has used up the $750.0 million authorized under the 2012 Repurchase Program, and $152.6 million of the $800.0 million authorized under the 2014 Repurchase Program, leaving $647.4 million available for future repurchases under the 2014 Repurchase Program. The Company’s current policy is to retire all repurchased shares, and consequently, no treasury shares were held as of March 28, 2015 and March 29, 2014. | |
During fiscal 2015, the Company repurchased 15.3 million shares of common stock in the open market for a total of approximately $650.0 million under the 2012 and 2014 Repurchase Programs. During fiscal 2014, the Company repurchased 5.2 million shares of common stock in the open market for a total of $242.1 million. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Mar. 28, 2015 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Income Taxes | Income Taxes | ||||||||||||
The provision for income taxes consists of the following: | |||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||
Federal: | |||||||||||||
Current | $ | 61,308 | $ | 16,692 | $ | 97,108 | |||||||
Deferred | 17,121 | 48,021 | (45,465 | ) | |||||||||
78,429 | 64,713 | 51,643 | |||||||||||
State: | |||||||||||||
Current | 3,330 | 1,333 | 1,007 | ||||||||||
Deferred | 1,803 | 5,954 | 1,742 | ||||||||||
5,133 | 7,287 | 2,749 | |||||||||||
Foreign: | |||||||||||||
Current | 9,433 | 7,264 | 5,455 | ||||||||||
Deferred | (1,135 | ) | (126 | ) | (377 | ) | |||||||
8,298 | 7,138 | 5,078 | |||||||||||
Total | $ | 91,860 | $ | 79,138 | $ | 59,470 | |||||||
The domestic and foreign components of income before income taxes were as follows: | |||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||
Domestic | $ | 110,881 | $ | 83,617 | $ | 45,617 | |||||||
Foreign | 629,195 | 625,909 | 501,389 | ||||||||||
Income before income taxes | $ | 740,076 | $ | 709,526 | $ | 547,006 | |||||||
The tax benefits associated with stock-based compensation recorded in additional paid-in capital were $13.9 million, $26.4 million and $9.0 million, for fiscal 2015, 2014 and 2013, respectively. | |||||||||||||
As of March 28, 2015, the Company had federal and state net operating loss carryforwards of approximately $16.5 million. If unused, these carryforwards will expire at various dates through 2030. All of the federal and state net operating loss carryforwards are subject to change of ownership limitations provided by the Internal Revenue Code and similar state provisions. The Company had state research tax credit carryforwards of approximately $152.4 million. The credits have no expiration date. Some of the state credit carryforwards are subject to change of ownership limitations provided by state provisions similar to that of the Internal Revenue Code. The state credit carryforwards include $80.8 million that is not likely to be recovered and has been reduced by a valuation allowance. | |||||||||||||
Unremitted foreign earnings that are considered to be permanently invested outside the U.S., and on which no U.S. taxes have been provided, are approximately $2.80 billion as of March 28, 2015. The residual U.S. tax liability, if such amounts were remitted, would be approximately $938.7 million. | |||||||||||||
The provision for income taxes reconciles to the amount derived by applying the Federal statutory income tax rate to income before provision for taxes as follows: | |||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||
Income before provision for taxes | $ | 740,076 | $ | 709,526 | $ | 547,006 | |||||||
Federal statutory tax rate | 35 | % | 35 | % | 35 | % | |||||||
Computed expected tax | 259,027 | 248,334 | 191,452 | ||||||||||
State taxes, net of federal benefit | 2,458 | 4,664 | 1,787 | ||||||||||
Foreign earnings at lower tax rates | (141,372 | ) | (143,336 | ) | (107,730 | ) | |||||||
Tax credits | (26,633 | ) | (23,389 | ) | (26,305 | ) | |||||||
Other | (1,620 | ) | (7,135 | ) | 266 | ||||||||
Provision for income taxes | $ | 91,860 | $ | 79,138 | $ | 59,470 | |||||||
The Company has manufacturing operations in Singapore where the Company has been granted "Pioneer Status" that is effective through fiscal 2021. The Pioneer Status reduces the Company’s tax on the majority of Singapore income from 17% to zero. The benefits of Pioneer Status in Singapore for fiscal 2015, fiscal 2014 and fiscal 2013 were approximately $66.0 million ($0.24 per diluted share), $60.3 million ($0.21 per diluted share), and $41.0 million ($0.15 per diluted share), respectively, on income considered permanently reinvested outside the U.S. The tax effect of operations in low tax jurisdictions on the Company’s overall tax rate is reflected in the table above. | |||||||||||||
The major components of deferred tax assets and liabilities consisted of the following as of March 28, 2015 and March 29, 2014: | |||||||||||||
(In thousands) | 2015 | 2014 | |||||||||||
Deferred tax assets: | |||||||||||||
Stock-based compensation | $ | 18,233 | $ | 21,142 | |||||||||
Deferred income on shipments to distributors | 9,207 | 8,097 | |||||||||||
Accrued expenses | 28,318 | 26,864 | |||||||||||
Tax credit carryforwards | 86,650 | 79,272 | |||||||||||
Deferred compensation plan | 26,079 | 22,280 | |||||||||||
Low income housing and other investments | 10,247 | 6,735 | |||||||||||
Other | 10,706 | 6,685 | |||||||||||
Subtotal | 189,440 | 171,075 | |||||||||||
Valuation allowance | (52,552 | ) | (43,004 | ) | |||||||||
Total deferred tax assets | 136,888 | 128,071 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Unremitted foreign earnings | (280,322 | ) | (253,231 | ) | |||||||||
Convertible debt | (3,220 | ) | (4,670 | ) | |||||||||
Other | (3,987 | ) | (5,493 | ) | |||||||||
Total deferred tax liabilities | (287,529 | ) | (263,394 | ) | |||||||||
Total net deferred tax liabilities | $ | (150,641 | ) | $ | (135,323 | ) | |||||||
Long-term deferred tax assets of $59.7 million and $61.9 million as of March 28, 2015 and March 29, 2014, respectively, were included in other assets on the consolidated balance sheet. | |||||||||||||
As of March 28, 2015, gross deferred tax assets were offset by valuation allowances of $52.6 million, which were associated with state tax credit carryforwards. As of March 29, 2014, gross deferred tax assets were offset by valuation allowances of $43.0 million, which were associated with state tax credit carryforwards and foreign net operating loss carryforwards. | |||||||||||||
The aggregate changes in the balance of gross unrecognized tax benefits for fiscal 2015 and 2014 were as follows: | |||||||||||||
(In thousands) | 2015 | 2014 | |||||||||||
Balance as of beginning of fiscal year | $ | 26,398 | $ | 69,957 | |||||||||
Increases in tax positions for prior years | 97 | 163 | |||||||||||
Decreases in tax positions for prior years | (37 | ) | (35,615 | ) | |||||||||
Increases in tax positions for current year | 4,822 | 3,687 | |||||||||||
Settlements | — | (6,030 | ) | ||||||||||
Lapses in statutes of limitation | (1,191 | ) | (5,764 | ) | |||||||||
Balance as of end of fiscal year | $ | 30,089 | $ | 26,398 | |||||||||
If the remaining balance of $30.1 million and $26.4 million of unrecognized tax benefits as of March 28, 2015 and March 29, 2014, respectively, were realized in a future period, it would result in a tax benefit of $12.5 million and $11.0 million, respectively, thereby reducing the effective tax rate. | |||||||||||||
The Company’s policy is to include interest and penalties related to income tax liabilities within the provision for income taxes on the consolidated statements of income. The balances of accrued interest and penalties recorded in the consolidated balance sheets and the amounts of interest and penalties included in the Company’s provisions for income taxes were not material for any period presented. | |||||||||||||
The Company is no longer subject to U.S. federal audits by taxing authorities for years through fiscal 2011. The Company is no longer subject to U.S. state audits for years through fiscal 2009. The Company is no longer subject to tax audits in Ireland for years through fiscal 2010. | |||||||||||||
The Company is currently under examination by the IRS for fiscal years 2012 through 2014. The Company believes the allowance for income tax contingencies is adequate and do not anticipate a significant change in the allowance for income tax contingencies as a result of the IRS audit. | |||||||||||||
It is reasonably possible that changes to our unrecognized tax benefits could be significant in the next twelve months due to tax audit settlements and lapses of statutes of limitation. As a result of uncertainties regarding tax audit settlements and their possible outcomes, an estimate of the range of increase or decrease that could occur in the next twelve months cannot be made. |
Segment_Information
Segment Information | 12 Months Ended | |||||||||||
Mar. 28, 2015 | ||||||||||||
Segment Reporting [Abstract] | ||||||||||||
Segment Information | Segment Information | |||||||||||
Xilinx designs, develops and markets programmable logic semiconductor devices and the related software design tools. The Company operates and tracks its results in one operating segment. Xilinx sells its products to OEMs and to electronic components distributors who resell these products to OEMs or subcontract manufacturers. | ||||||||||||
Geographic revenue information for fiscal 2015, 2014 and 2013 reflects the geographic location of the distributors or OEMs who purchased the Company’s products. This may differ from the geographic location of the end customers. Long-lived assets include property, plant and equipment, which were based on the physical location of the asset as of the end of each fiscal year. | ||||||||||||
Net revenues by geographic region were as follows: | ||||||||||||
(In thousands) | 28-Mar-15 | 29-Mar-14 | 30-Mar-13 | |||||||||
North America: | ||||||||||||
United States | $ | 625,434 | $ | 610,276 | $ | 558,309 | ||||||
Other | 112,900 | 97,416 | 97,251 | |||||||||
Total North America | 738,334 | 707,692 | 655,560 | |||||||||
Asia Pacific: | ||||||||||||
China | 573,007 | 564,814 | 428,892 | |||||||||
Other | 357,598 | 375,013 | 324,920 | |||||||||
Total Asia Pacific | 930,605 | 939,827 | 753,812 | |||||||||
Europe | 477,102 | 519,829 | 548,375 | |||||||||
Japan | 231,303 | 215,183 | 210,905 | |||||||||
Worldwide total | $ | 2,377,344 | $ | 2,382,531 | $ | 2,168,652 | ||||||
Net long-lived assets by country at fiscal year-ends were as follows: | ||||||||||||
(In thousands) | 2015 | 2014 | 2013 | |||||||||
United States | $ | 195,353 | $ | 237,229 | $ | 240,429 | ||||||
Foreign: | ||||||||||||
Ireland | 46,216 | 48,043 | 50,627 | |||||||||
Singapore | 43,020 | 51,569 | 56,481 | |||||||||
Other | 16,449 | 18,248 | 18,150 | |||||||||
Total foreign | 105,685 | 117,860 | 125,258 | |||||||||
Worldwide total | $ | 301,038 | $ | 355,089 | $ | 365,687 | ||||||
Litigation_Settlements_and_Con
Litigation Settlements and Contingencies | 12 Months Ended |
Mar. 28, 2015 | |
Loss Contingency [Abstract] | |
Litigation Settlements and Contingencies | Litigation Settlements and Contingencies |
Patent Litigation | |
On November 7, 2014, the Company filed a complaint for declaratory judgment against Papst Licensing GmbH & Co., KG (Papst)in the U.S. District Court for the Northern District of California (Xilinx, Inc. v. Papst Licensing GmbH & Co., KG, Case No. 3:14-CV-04963) (the California Action). On the same date, a patent infringement lawsuit was filed by Papst against the Company in the U.S. District Court for the District of Delaware (Papst Licensing GmbH & Co., KG v. Xilinx, Inc., Case No. 1:14-CV-01376) (the Delaware Action). Both the California Action and the Delaware Action pertain to the same two patents. In the California Action, the Company seeks judgments of non-infringement of the patents by the Company and judgments that the patents are invalid and unenforceable, as well as costs. In the Delaware Action, Papst seeks unspecified damages, interest and costs. The Company is unable to estimate its range of possible loss, if any, in this matter at this time. | |
On July 17, 2014, a patent infringement lawsuit was filed by PLL Technologies, Inc. (PTI) against the Company in the U.S. District Court for the District of Delaware (PLL Technologies, Inc. v. Xilinx, Inc., Case No. 1:14-CV-00945). The lawsuit pertains to one patent and PTI seeks unspecified damages, interest and costs. The Company is unable to estimate its range of possible loss, if any, in this matter at this time. | |
The Company intends to continue to protect and defend our IP vigorously. | |
Other Matters | |
On January 31, 2014, Evan Levine and Keith McClellan filed an action on behalf of the United States in the United States District Court for the Eastern District of Kentucky (United States of America, ex. rel. Evan Levine and Keith McClellan v. Avnet Inc., et. al., Case No. 14-cv-00017). The matter alleges violations of the False Claims Act, 31 U.S.C. Section 3729 et seq. and was filed under seal pursuant to 31 U.S.C. Section 3730(b)(2). The lawsuit seeks to recover, on behalf of the United States, $11 thousand for each unspecified, allegedly false and fraudulent claim, plus treble damages. The government investigated the allegations in the complaint and on September 12, 2014, filed a Notice of Election to Decline Intervention. On September 22, 2014, the District Court unsealed the complaint and ordered it to be served on the defendants. On November 21, 2014, the government moved to dismiss the complaint with prejudice. That same day, Mr. McClellan filed a notice of dismissal, leaving Mr. Levine as the only remaining relator. The Company was served with the complaint on December 11, 2014. On April 1, 2015, the District Court granted the government’s motion, dismissing the matter with prejudice. The District Court also entered judgment in favor of the defendants including the Company. On April 27, 2015, Mr. Levine, proceeding without counsel, filed a notice of appeal to the United States Court of Appeals for the Sixth Circuit from the District Court's order and judgment. | |
From time to time, the Company is involved in various disputes and litigation matters that arise in the ordinary course of its business. These include disputes and lawsuits related to intellectual property, mergers and acquisitions, licensing, contract law, tax, regulatory, distribution arrangements, employee relations and other matters. Periodically, the Company reviews the status of each matter and assesses its potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and a range of possible losses can be estimated, the Company accrues a liability for the estimated loss. Legal proceedings are subject to uncertainties, and the outcomes are difficult to predict. Because of such uncertainties, accruals are based only on the best information available at the time. As additional information becomes available, the Company continues to reassess the potential liability related to pending claims and litigation and may revise estimates. |
Goodwill_and_AcquisitionRelate
Goodwill and Acquisition-Related Intangibles | 12 Months Ended | |||||||||
Mar. 28, 2015 | ||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||
Goodwill and Acquisition-Related Intangibles | Goodwill and Acquisition-Related Intangibles | |||||||||
As of March 28, 2015 and March 29, 2014, the gross and net amounts of goodwill and of acquisition-related intangibles for all acquisitions were as follows: | ||||||||||
Weighted-Average | ||||||||||
(In thousands) | 2015 | 2014 | Amortization Life | |||||||
Goodwill | $ | 159,296 | $ | 159,296 | ||||||
Core technology, gross | 77,640 | 91,860 | 5.6 years | |||||||
Less accumulated amortization | (64,988 | ) | (63,267 | ) | ||||||
Core technology, net | 12,652 | 28,593 | ||||||||
Other intangibles, gross | 46,606 | 46,716 | 2.7 years | |||||||
Less accumulated amortization | (46,506 | ) | (46,442 | ) | ||||||
Other intangibles, net | 100 | 274 | ||||||||
Total acquisition-related intangibles, gross | 124,246 | 138,576 | ||||||||
Less accumulated amortization | (111,494 | ) | (109,709 | ) | ||||||
Total acquisition-related intangibles, net | $ | 12,752 | $ | 28,867 | ||||||
During the fourth quarter of fiscal 2015, the Company wrote off certain acquisition-related intangibles with a net book value of $6.6 million and recorded it as part of the restructuring charges (see also "Note 8. Restructuring Charges"). The write-off was primarily related to certain core technology that the Company no longer plans to utilize in the future. | ||||||||||
Amortization expense for acquisition-related intangibles for fiscal 2015, 2014 and 2013 were $9.5 million, $9.9 million and $9.5 million, respectively. Based on the carrying value of acquisition-related intangibles recorded as of March 28, 2015, and assuming no subsequent impairment of the underlying assets, the annual amortization expense for acquisition-related intangibles is expected to be as follows: | ||||||||||
Fiscal | (In thousands) | |||||||||
2016 | $ | 6,550 | ||||||||
2017 | 4,761 | |||||||||
2018 | 1,374 | |||||||||
2019 | 67 | |||||||||
Thereafter | — | |||||||||
Total | $ | 12,752 | ||||||||
Employee_Benefit_Plans
Employee Benefit Plans | 12 Months Ended |
Mar. 28, 2015 | |
Postemployment Benefits [Abstract] | |
Employee Benefit Plans | Employee Benefit Plans |
Xilinx offers various retirement benefit plans for U.S. and non-U.S. employees. Total contributions to these plans were $13.0 million, $13.2 million and $12.2 million in fiscal 2015, 2014 and 2013, respectively. For employees in the U.S., Xilinx instituted a Company matching program pursuant to which the Company will match contributions to Xilinx’s 401(k) Plan (the 401(k) Plan) based on the amount of salary deferral contributions the participant makes to the 401(k) Plan. Xilinx will match up to 50% of the first 8% of an employee’s compensation that the employee contributed to their 401(k) account. The maximum Company contribution per year is $4,500 per employee. As permitted under Section 401(k) of the Internal Revenue Code, the 401(k) Plan allows tax deferred salary deductions for eligible employees. The Compensation Committee of the Board of Directors administers the 401(k) Plan. Participants in the 401(k) Plan may make salary deferrals of up to 25% of the eligible annual salary, limited by the maximum dollar amount allowed by the Internal Revenue Code. Participants who have reached the age of 50 before the close of the plan year may be eligible to make catch-up salary deferral contributions, up to 25% of eligible annual salary, limited by the maximum dollar amount allowed by the Internal Revenue Code. | |
The Company allows its U.S.-based officers, director-level employees and its board members to defer a portion of their compensation under the Deferred Compensation Plan (the Plan). The Compensation Committee administers the Plan. As of March 28, 2015, there were more than 155 participants in the Plan who self-direct their contributions into investment options offered by the Plan. The Plan does not allow Plan participants to invest directly in Xilinx’s stock. In the event Xilinx becomes insolvent, Plan assets are subject to the claims of the Company’s general creditors. There are no Plan provisions that provide for any guarantees or minimum return on investments. As of March 28, 2015, Plan assets were $59.2 million and obligations were $70.2 million. As of March 29, 2014, Plan assets were $50.6 million and obligations were $59.6 million. |
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended | ||||||||||||||||
Mar. 28, 2015 | |||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | |||||||||||||||||
Schedule II - Valuation and Qualifying Accounts | XILINX, INC. | ||||||||||||||||
SCHEDULE II | |||||||||||||||||
VALUATION AND QUALIFYING ACCOUNTS | |||||||||||||||||
(In thousands) | |||||||||||||||||
Description | Beginning | Additions | Deductions | End of Year | |||||||||||||
of Year | |||||||||||||||||
For the year ended March 30, 2013: | |||||||||||||||||
Allowance for doubtful accounts | $ | 3,446 | $ | — | $ | 21 | $ | 3,425 | |||||||||
Allowance for deferred tax assets | $ | 18,826 | $ | 7,575 | $ | — | $ | 26,401 | |||||||||
For the year ended March 29, 2014: | |||||||||||||||||
Allowance for doubtful accounts | $ | 3,425 | $ | 2 | $ | 72 | $ | 3,355 | |||||||||
Allowance for deferred tax assets | $ | 26,401 | $ | 19,771 | $ | 3,168 | $ | 43,004 | |||||||||
For the year ended March 28, 2015: | |||||||||||||||||
Allowance for doubtful accounts | $ | 3,355 | $ | — | $ | 2 | $ | 3,353 | |||||||||
Allowance for deferred tax assets | $ | 43,004 | $ | 10,623 | $ | 1,075 | $ | 52,552 | |||||||||
Supplementary Financial Data | |||||||||||||||||
Quarterly Data (Unaudited) | |||||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||
Year ended March 28, 2015 (1) | First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
Net revenues | $ | 612,633 | $ | 604,262 | $ | 593,549 | $ | 566,900 | |||||||||
Gross margin | 423,444 | 434,645 | 413,911 | 396,521 | |||||||||||||
Income before income taxes (2) | 200,278 | 194,318 | 186,002 | 159,478 | |||||||||||||
Net income | 173,611 | 171,516 | 168,466 | 134,623 | |||||||||||||
Net income per common share: (3) | |||||||||||||||||
Basic | $ | 0.65 | $ | 0.64 | $ | 0.64 | $ | 0.52 | |||||||||
Diluted | $ | 0.62 | $ | 0.62 | $ | 0.62 | $ | 0.5 | |||||||||
Shares used in per share calculations: | |||||||||||||||||
Basic | 267,648 | 265,942 | 262,881 | 260,857 | |||||||||||||
Diluted | 281,579 | 275,800 | 273,795 | 269,514 | |||||||||||||
Cash dividends declared per common share | $ | 0.29 | $ | 0.29 | $ | 0.29 | $ | 0.29 | |||||||||
-1 | Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2015 was a 52-week year and each quarter was a 13-week quarter. | ||||||||||||||||
-2 | Income before income taxes for the fourth quarter of fiscal 2015 included restructuring charges of $24,491. | ||||||||||||||||
-3 | Net income per common share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly per common share information may not equal the annual net income per common share. | ||||||||||||||||
(In thousands, except per share amounts) | |||||||||||||||||
Year ended March 29, 2014 (1) | First | Second | Third | Fourth | |||||||||||||
Quarter | Quarter | Quarter | Quarter | ||||||||||||||
Net revenues | $ | 578,955 | $ | 598,937 | $ | 586,816 | $ | 617,823 | |||||||||
Gross margin | 399,255 | 416,121 | 406,024 | 417,878 | |||||||||||||
Income before income taxes (2) | 182,979 | 152,765 | 197,932 | 175,850 | |||||||||||||
Net income | 157,023 | 141,461 | 175,877 | 156,027 | |||||||||||||
Net income per common share: (3) | |||||||||||||||||
Basic | $ | 0.59 | $ | 0.53 | $ | 0.66 | $ | 0.58 | |||||||||
Diluted | $ | 0.56 | $ | 0.49 | $ | 0.61 | $ | 0.53 | |||||||||
Shares used in per share calculations: | |||||||||||||||||
Basic | 264,153 | 268,478 | 267,780 | 268,134 | |||||||||||||
Diluted | 280,291 | 290,685 | 288,195 | 294,536 | |||||||||||||
Cash dividends declared per common share | $ | 0.25 | $ | 0.25 | $ | 0.25 | $ | 0.25 | |||||||||
-1 | Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2014 was a 52-week year and each quarter was a 13-week quarter. | ||||||||||||||||
-2 | Income before income taxes for the second quarter of fiscal 2014 included litigation and contingencies charge of $28,600, for the third quarter of fiscal 2014 included reversal of litigation and contingencies charge of $19,190 and for the fourth quarter of fiscal 2014 included loss on extinguishment of convertible debentures of $9,848. | ||||||||||||||||
-3 | Net income per common share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly per common share information may not equal the annual net income per common share. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies and Concentrations of Risk (Policies) | 12 Months Ended | |||||||
Mar. 28, 2015 | ||||||||
Accounting Policies [Abstract] | ||||||||
Basis of Presentation | Basis of Presentation | |||||||
The accompanying consolidated financial statements include the accounts of Xilinx and its wholly-owned subsidiaries after elimination of all intercompany transactions. The Company uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2015, 2014 and 2013 were 52-week years ended on March 28, 2015, March 29, 2014 and March 30, 2013, respectively. Fiscal 2016 will be a 53-week year ending on April 2, 2016. | ||||||||
Use of Estimates | Use of Estimates | |||||||
The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of net revenues and expenses during the reporting period. Such estimates relate to, among others, the useful lives of assets, assessment of recoverability of property, plant and equipment, long-lived assets including acquisition-related intangible assets and goodwill, inventory write-downs, allowances for doubtful accounts, customer returns, deferred tax assets, stock-based compensation, potential reserves relating to litigation and tax matters, valuation of certain investments and derivative financial instruments as well as other accruals or reserves. Actual results may differ from those estimates and such differences may be material to the financial statements. | ||||||||
Cash Equivalents and Investments | Cash Equivalents and Investments | |||||||
Cash equivalents consist of highly liquid investments with original maturities from the date of purchase of three months or less. These investments consist of non-financial institution securities, U.S. and foreign government and agency securities, money market funds, and financial institution securities. Short-term investments consist of U.S. and foreign government and agency securities, mortgage-backed securities, asset-backed securities, bank loans, financial institution securities, non-financial institution securities, a debt mutual fund and municipal bonds with original maturities greater than three months and remaining maturities less than one year from the balance sheet date. Long-term investments consist of mortgage-backed securities, asset-backed securities, non-financial institution securities, a debt mutual fund, U.S. government and agency securities and municipal bonds with remaining maturities greater than one year, unless the investments are specifically identified to fund current operations, in which case they are classified as short-term investments. As of March 28, 2015 and March 29, 2014, long-term investments also included approximately $10.3 million and $20.2 million, respectively, of auction rate securities that experienced failed auctions in the fourth quarter of fiscal 2008. These auction rate securities are secured primarily by pools of student loans originated under Federal Family Education Loan Program that are substantially guaranteed by the U. S. Department of Education. Equity investments are also classified as long-term investments since they are not intended to fund current operations. | ||||||||
The Company maintains its cash balances with various banks with high quality ratings, and with investment banking and asset management institutions. The Company manages its liquidity risk by investing in a variety of money market funds, high-grade commercial paper, corporate bonds, municipal bonds, U.S. and foreign government and agency securities, asset-backed securities and debt mutual funds. This diversification of investments is consistent with its policy to maintain liquidity and ensure the ability to collect principal. The Company maintains an offshore investment portfolio denominated in U.S. dollars. All investments are made pursuant to corporate investment policy guidelines. Investments include Euro commercial paper, Euro dollar bonds, Euro dollar floating rate notes, offshore time deposits, U.S. and foreign government and agency securities, asset-backed securities, bank loans and mortgage-backed securities issued by U.S. government-sponsored enterprises and agencies. | ||||||||
Management classifies investments as available-for-sale or held-to-maturity at the time of purchase and re-evaluates such designation at each balance sheet date, although classification is not generally changed. Securities are classified as held-to-maturity when the Company has the positive intent and the ability to hold the securities until maturity. Held-to-maturity securities are carried at cost adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization, as well as any interest on the securities, is included in interest income. No investments were classified as held-to-maturity as of March 28, 2015 or March 29, 2014. Available-for-sale securities are carried at fair value with the unrealized gains or losses, net of tax, included as a component of accumulated other comprehensive income (loss) in stockholders’ equity. See "Note 3. Fair Value Measurements" for information relating to the determination of fair value. Realized gains and losses on available-for-sale securities are included in interest and other expense, net, and declines in value judged to be other than temporary are included in impairment loss on investments. In determining if and when a decline in value below the adjusted cost of marketable debt and equity securities is other than temporary, we evaluate on an ongoing basis the market conditions, trends of earnings, financial condition, credit ratings, any underlying collateral and other key measures for our investments. The cost of securities matured or sold is based on the specific identification method. | ||||||||
In determining whether a decline in value of non-marketable equity investments in private companies is other than temporary, the assessment is made by considering available evidence including the general market conditions in the investee’s industry, the investee’s product development status, the investee’s ability to meet business milestones and the financial condition and near-term prospects of the individual investee, including the rate at which the investee is using its cash, the investee’s need for possible additional funding at a lower valuation and bona fide offers to purchase the investee from a prospective acquirer. When a decline in value is deemed to be other than temporary, the Company recognizes an impairment loss in the current period’s operating results to the extent of the decline. | ||||||||
Accounts Receivable | Accounts Receivable | |||||||
The allowance for doubtful accounts reflects the Company’s best estimate of probable losses inherent in the accounts receivable balance. The Company determines the allowance based on the aging of Xilinx’s accounts receivable, historical experience, known troubled accounts, management judgment and other currently available evidence. Xilinx writes off accounts receivable against the allowance when Xilinx determines a balance is uncollectible and no longer actively pursues collection of the receivable. The amounts of accounts receivable written off were insignificant for all periods presented. | ||||||||
Inventories | Inventories | |||||||
Inventories are stated at the lower of actual cost (determined using the first-in, first-out method), or market (estimated net realizable value) and are comprised of the following: | ||||||||
(In thousands) | 28-Mar-15 | 29-Mar-14 | ||||||
Raw materials | $ | 14,174 | $ | 15,306 | ||||
Work-in-process | 183,472 | 192,067 | ||||||
Finished goods | 33,682 | 26,626 | ||||||
$ | 231,328 | $ | 233,999 | |||||
The Company reviews and sets standard costs quarterly to approximate current actual manufacturing costs. The Company’s manufacturing overhead standards for product costs are calculated assuming full absorption of actual spending over actual volumes. Given the cyclicality of the market, the obsolescence of technology and product lifecycles, the Company writes down inventory based on forecasted demand and technological obsolescence. These forecasts are developed based on inputs from the Company’s customers, including bookings and extended but uncommitted demand forecasts, and internal analyses such as customer historical purchasing trends and actual and anticipated design wins, as well as market and economic conditions, technology changes, new product introductions and changes in strategic direction. These factors require estimates that may include uncertain elements. The estimates of future demand that the Company uses in the valuation of inventory are the basis for its published revenue forecasts, which are also consistent with our short-term manufacturing plans. The differences between the Company’s demand forecast and the actual demand in the recent past have not resulted in any material write down in the Company’s inventory. If the Company’s demand forecast for specific products is greater than actual demand and the Company fails to reduce manufacturing output accordingly, the Company could be required to write down additional inventory, which would have a negative impact on the Company’s gross margin. | ||||||||
Property, Plant and Equipment | Property, Plant and Equipment | |||||||
Property, plant and equipment are recorded at cost, net of accumulated depreciation. Depreciation for financial reporting purposes is computed using the straight-line method over the estimated useful lives of the assets of three to five years for machinery, equipment, furniture and fixtures and 15 to 30 years for buildings. Depreciation expense totaled $55.3 million, $55.5 million and $56.3 million for fiscal 2015, 2014 and 2013, respectively. | ||||||||
Impairment of Long-Lived Assets Including Acquisition-Related Intangibles | Impairment of Long-Lived Assets Including Acquisition-Related Intangibles | |||||||
The Company evaluates the carrying value of long-lived assets and certain identifiable intangible assets to be held and used for impairment if indicators of potential impairment exist. Impairment indicators are reviewed on a quarterly basis. When indicators of impairment exist and assets are held for use, the Company estimates future undiscounted cash flows attributable to the assets. In the event such cash flows are not expected to be sufficient to recover the recorded value of the assets, the assets are written down to their estimated fair values based on the expected discounted future cash flows attributable to the assets or based on appraisals. When assets are removed from operations and held for sale, Xilinx estimates impairment losses as the excess of the carrying value of the assets over their fair value. | ||||||||
Goodwill | Goodwill | |||||||
Goodwill is not amortized but is subject to impairment tests on an annual basis, or more frequently if indicators of potential impairment exist, using a fair-value-based approach. Based on the impairment review performed during the fourth quarter of fiscal 2015, there was no impairment of goodwill in fiscal 2015. Unless there are indicators of impairment, the Company’s next impairment review for goodwill will be performed and completed in the fourth quarter of fiscal 2016. To date, no impairment indicators have been identified. | ||||||||
Revenue Recognition | Revenue Recognition | |||||||
Sales to distributors are made under agreements providing distributor price adjustments and rights of return under certain circumstances. Revenue and costs relating to distributor sales are deferred until products are sold by the distributors to the distributors’ end customers. For fiscal 2015, approximately 54% of the Company’s net revenues were from products sold to distributors for subsequent resale to OEMs or their subcontract manufacturers. Revenue recognition depends on notification from the distributor that product has been sold to the distributor’s end customer. Also reported by the distributor are product resale price, quantity and end customer shipment information, as well as inventory on hand. Reported distributor inventory on hand is reconciled to deferred revenue balances monthly. The Company maintains system controls to validate distributor data and to verify that the reported information is accurate. Deferred income on shipments to distributors reflects the estimated effects of distributor price adjustments and the amount of gross margin expected to be realized when distributors sell through product purchased from the Company. Accounts receivable from distributors are recognized and inventory is relieved when title to inventories transfers, typically upon shipment from Xilinx at which point the Company has a legally enforceable right to collection under normal payment terms. | ||||||||
As of March 28, 2015, the Company had $87.7 million of deferred revenue and $21.6 million of deferred cost of revenues recognized as a net $66.1 million of deferred income on shipments to distributors. As of March 29, 2014, the Company had $75.2 million of deferred revenue and $20.1 million of deferred cost of revenues recognized as a net $55.1 million of deferred income on shipments to distributors. The deferred income on shipments to distributors that will ultimately be recognized in the Company’s consolidated statement of income will be different than the amount shown on the consolidated balance sheet due to actual price adjustments issued to the distributors when the product is sold to their end customers. | ||||||||
Revenue from sales to the Company’s direct customers is recognized upon shipment provided that persuasive evidence of a sales arrangement exists, the price is fixed or determinable, title has transferred, collection of resulting receivables is reasonably assured, and there are no customer acceptance requirements and no remaining significant obligations. For each of the periods presented, there were no significant acceptance provisions with the Company’s direct customers. | ||||||||
Revenue from software licenses is deferred and recognized as revenue over the term of the licenses of one year. Revenue from support services is recognized when the service is performed. Revenue from Support Products, which includes software and services sales, was less than 5% of net revenues for all of the periods presented. | ||||||||
Allowances for end customer sales returns are recorded based on historical experience and for known pending customer returns or allowances. | ||||||||
Foreign Currency Translation | Foreign Currency Translation | |||||||
The U.S. dollar is the functional currency for the Company’s Ireland and Singapore subsidiaries. Monetary assets and liabilities that are not denominated in the functional currency are remeasured into U.S. dollars, and the resulting gains or losses are included in the consolidated statements of income under interest and other expense, net. The remeasurement gains or losses were immaterial for all fiscal periods presented. | ||||||||
The local currency is the functional currency for each of the Company’s other wholly-owned foreign subsidiaries. Assets and liabilities are translated from foreign currencies into U.S. dollars at month-end exchange rates and statements of income are translated at the average monthly exchange rates. Exchange gains or losses arising from translation of foreign currency denominated assets and liabilities (i.e., cumulative translation adjustment) are included as a component of accumulated other comprehensive income (loss) in stockholders’ equity. | ||||||||
Derivative Financial Instruments | Derivative Financial Instruments | |||||||
To reduce financial risk, the Company periodically enters into financial arrangements as part of the Company’s ongoing asset and liability management activities. Xilinx uses derivative financial instruments to hedge fair values of underlying assets and liabilities or future cash flows which are exposed to foreign currency or commodity price fluctuations. The Company does not enter into derivative financial instruments for trading or speculative purposes. See "Note 5. Derivative Financial Instruments" for detailed information about the Company’s derivative financial instruments. | ||||||||
Research and Development Expenses | Research and Development Expenses | |||||||
Research and development costs are current period expenses and charged to expense as incurred. | ||||||||
Stock-Based Compensation | Stock-Based Compensation | |||||||
The Company has equity incentive plans that are more fully discussed in "Note 6. Stock-Based Compensation Plans." The authoritative guidance of accounting for share-based payment requires the Company to measure the cost of all employee equity awards that are expected to be exercised based on the grant-date fair value of those awards and to record that cost as compensation expense over the period during which the employee is required to perform service in exchange for the award (over the vesting period of the award). The authoritative guidance of accounting for share-based payment requires cash flows resulting from excess tax benefits to be classified as a part of cash flows from financing activities. Excess tax benefits are realized tax benefits from tax deductions for exercised options in excess of the deferred tax asset attributable to stock compensation costs for such options. The exercise price of employee stock options is equal to the market price of Xilinx common stock (defined as the closing trading price reported by The NASDAQ Global Select Market) on the date of grant. Additionally, Xilinx’s ESPP is deemed a compensatory plan under the authoritative guidance of accounting for share-based payments. Accordingly, the ESPP is included in the computation of stock-based compensation expense. | ||||||||
The Company uses the straight-line attribution method to recognize stock-based compensation costs over the requisite service period of the award. Upon exercise, cancellation or expiration of stock options, deferred tax assets for options with multiple vesting dates are eliminated for each vesting period on a first-in, first-out basis as if each award had a separate vesting period. | ||||||||
Income Taxes | Income Taxes | |||||||
All income tax amounts reflect the use of the liability method under the accounting for income taxes, as interpreted by FASB authoritative guidance for measuring uncertain tax positions. Under this method, deferred tax assets and liabilities are determined based on the expected future tax consequences of temporary differences between the carrying amounts of assets and liabilities for financial and income tax reporting purposes. | ||||||||
Product Warranty and Indemnification | Product Warranty and Indemnification | |||||||
The Company generally sells products with a limited warranty for product quality. The Company provides an accrual for known product issues if a loss is probable and can be reasonably estimated. As of the end of both fiscal 2015 and 2014, the accrual balance of the product warranty liability was immaterial. | ||||||||
The Company offers, subject to certain terms and conditions, to indemnify customers and distributors for costs and damages awarded against these parties in the event the Company’s hardware products are found to infringe third-party intellectual property rights, including patents, copyrights or trademarks, and to compensate certain customers for limited specified costs they actually incur in the event our hardware products experience epidemic failure. To a lesser extent, the Company may from time-to-time offer limited indemnification with respect to its software products. The terms and conditions of these indemnity obligations are limited by contract, which obligations are typically perpetual from the effective date of the agreement. The Company has historically received only a limited number of requests for indemnification under these provisions and has not made any significant payments pursuant to these provisions. The Company cannot estimate the maximum amount of potential future payments, if any, that the Company may be required to make as a result of these obligations due to the limited history of indemnification claims and the unique facts and circumstances that are likely to be involved in each particular claim and indemnification provision. However, there can be no assurances that the Company will not incur any financial liabilities in the future as a result of these obligations. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies and Concentrations of Risk (Tables) | 12 Months Ended | |||||||
Mar. 28, 2015 | ||||||||
Inventory Disclosure [Abstract] | ||||||||
Schedule of Inventories | Inventories are stated at the lower of actual cost (determined using the first-in, first-out method), or market (estimated net realizable value) and are comprised of the following: | |||||||
(In thousands) | 28-Mar-15 | 29-Mar-14 | ||||||
Raw materials | $ | 14,174 | $ | 15,306 | ||||
Work-in-process | 183,472 | 192,067 | ||||||
Finished goods | 33,682 | 26,626 | ||||||
$ | 231,328 | $ | 233,999 | |||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||
Mar. 28, 2015 | |||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||
Assets and liabilities measured at fair value on a recurring basis | The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis as of March 28, 2015 and March 29, 2014: | ||||||||||||||||
March 28, 2015 | |||||||||||||||||
(In thousands) | Quoted | Significant | Significant | Total Fair | |||||||||||||
Prices in | Other | Unobservable | Value | ||||||||||||||
Active | Observable | Inputs | |||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||
Identical | (Level 2) | ||||||||||||||||
Instruments | |||||||||||||||||
(Level 1) | |||||||||||||||||
Assets | |||||||||||||||||
Cash and cash equivalents: | |||||||||||||||||
Money market funds | $ | 235,583 | $ | — | $ | — | $ | 235,583 | |||||||||
Financial institution securities | — | 229,999 | — | 229,999 | |||||||||||||
Non-financial institution securities | — | 89,995 | — | 89,995 | |||||||||||||
U.S. government and agency securities | — | 200,392 | — | 200,392 | |||||||||||||
Foreign government and agency securities | — | 37,996 | — | 37,996 | |||||||||||||
Short-term investments: | |||||||||||||||||
Financial institution securities | — | 75,000 | — | 75,000 | |||||||||||||
Non-financial institution securities | — | 339,029 | — | 339,029 | |||||||||||||
Municipal bonds | — | 40,006 | — | 40,006 | |||||||||||||
U.S. government and agency securities | 256,514 | 301,010 | — | 557,524 | |||||||||||||
Foreign government and agency securities | — | 159,936 | — | 159,936 | |||||||||||||
Mortgage-backed securities | — | 897,776 | — | 897,776 | |||||||||||||
Debt mutual fund | — | 38,608 | — | 38,608 | |||||||||||||
Bank loans | — | 98,100 | — | 98,100 | |||||||||||||
Asset-backed securities | — | 204,510 | — | 204,510 | |||||||||||||
Long-term investments: | |||||||||||||||||
Auction rate securities | — | — | 10,312 | 10,312 | |||||||||||||
Municipal bonds | — | 9,650 | — | 9,650 | |||||||||||||
Mortgage-backed securities | — | 182,400 | — | 182,400 | |||||||||||||
Debt mutual fund | — | 56,592 | — | 56,592 | |||||||||||||
Asset-backed securities | — | 7,948 | — | 7,948 | |||||||||||||
Total assets measured at fair value | $ | 492,097 | $ | 2,968,947 | $ | 10,312 | $ | 3,471,356 | |||||||||
Liabilities | |||||||||||||||||
Derivative financial instruments, net | $ | — | $ | 9,251 | $ | — | $ | 9,251 | |||||||||
Total liabilities measured at fair value | $ | — | $ | 9,251 | $ | — | $ | 9,251 | |||||||||
Net assets measured at fair value | $ | 492,097 | $ | 2,959,696 | $ | 10,312 | $ | 3,462,105 | |||||||||
29-Mar-14 | |||||||||||||||||
(In thousands) | Quoted | Significant | Significant | Total Fair | |||||||||||||
Prices in | Other | Unobservable | Value | ||||||||||||||
Active | Observable | Inputs | |||||||||||||||
Markets for | Inputs | (Level 3) | |||||||||||||||
Identical | (Level 2) | ||||||||||||||||
Instruments | |||||||||||||||||
(Level 1) | |||||||||||||||||
Assets | |||||||||||||||||
Cash and cash equivalents: | |||||||||||||||||
Money market funds | $ | 213,988 | $ | — | $ | — | $ | 213,988 | |||||||||
Financial institution securities | — | 131,990 | — | 131,990 | |||||||||||||
Non-financial institution securities | — | 319,970 | — | 319,970 | |||||||||||||
U.S. government and agency securities | 69,998 | — | — | 69,998 | |||||||||||||
Foreign government and agency securities | — | 194,984 | — | 194,984 | |||||||||||||
Short-term investments: | |||||||||||||||||
Financial institution securities | — | 234,916 | — | 234,916 | |||||||||||||
Non-financial institution securities | — | 226,828 | — | 226,828 | |||||||||||||
Municipal Bonds | — | 15,780 | — | 15,780 | |||||||||||||
U.S. government and agency securities | 349,023 | 89,422 | — | 438,445 | |||||||||||||
Foreign government and agency securities | — | 159,951 | — | 159,951 | |||||||||||||
Mortgage-backed securities | — | 387,508 | — | 387,508 | |||||||||||||
Debt mutual fund | — | 20,216 | — | 20,216 | |||||||||||||
Long-term investments: | |||||||||||||||||
Non-financial institution securities | — | 209,274 | — | 209,274 | |||||||||||||
Auction rate securities | — | — | 20,160 | 20,160 | |||||||||||||
Municipal bonds | — | 15,986 | — | 15,986 | |||||||||||||
U.S. government and agency securities | 4,950 | 36,126 | — | 41,076 | |||||||||||||
Mortgage-backed securities | — | 847,581 | — | 847,581 | |||||||||||||
Debt mutual fund | — | 56,698 | — | 56,698 | |||||||||||||
Derivative financial instruments, net | — | 1,713 | — | 1,713 | |||||||||||||
Total assets measured at fair value | $ | 637,959 | $ | 2,948,943 | $ | 20,160 | $ | 3,607,062 | |||||||||
Changes in Level 3 instruments measured at fair value on a recurring basis | The following table is a reconciliation of all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3): | ||||||||||||||||
Years Ended | |||||||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | |||||||||||||||
Balance as of beginning of period | $ | 20,160 | $ | 27,610 | |||||||||||||
Total realized and unrealized gains (losses): | |||||||||||||||||
Included in interest and other expense, net | — | 1,090 | |||||||||||||||
Included in other comprehensive income (loss) | 1,152 | 1,760 | |||||||||||||||
Sales and settlements, net (1) | (11,000 | ) | (10,300 | ) | |||||||||||||
Balance as of end of period | $ | 10,312 | $ | 20,160 | |||||||||||||
-1 | During fiscal 2015 and 2014, the Company redeemed $11.0 million and $10.3 million of student loan auction rate securities, respectively, for cash at par value. | ||||||||||||||||
Gains or (losses) included in net income attributable to change in unrealized gains or losses relating to assets and liabilities | The amount of total gains or (losses) included in net income attributable to the change in unrealized gains or (losses) relating to assets and liabilities still held as of the end of the period are summarized as follows: | ||||||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||||||
Included in interest and other expense, net | $ | — | $ | — | $ | (159 | ) | ||||||||||
Financial_Instruments_Tables
Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 28, 2015 | |||||||||||||||||||||||||||||||||
Investments, All Other Investments [Abstract] | |||||||||||||||||||||||||||||||||
Available-for-sale securities | The following is a summary of cash equivalents and available-for-sale securities as of the end of the periods presented: | ||||||||||||||||||||||||||||||||
March 28, 2015 | 29-Mar-14 | ||||||||||||||||||||||||||||||||
(In thousands) | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Estimated Fair Value | |||||||||||||||||||||||||
Money market funds | $ | 235,583 | $ | — | $ | — | $ | 235,583 | $ | 213,988 | $ | — | $ | — | $ | 213,988 | |||||||||||||||||
Financial institution | |||||||||||||||||||||||||||||||||
securities | 304,999 | — | — | 304,999 | 366,906 | — | — | 366,906 | |||||||||||||||||||||||||
Non-financial institution | |||||||||||||||||||||||||||||||||
securities | 429,005 | 25 | (6 | ) | 429,024 | 753,888 | 3,428 | (1,244 | ) | 756,072 | |||||||||||||||||||||||
Auction rate securities | 10,500 | — | (188 | ) | 10,312 | 21,500 | — | (1,340 | ) | 20,160 | |||||||||||||||||||||||
Municipal bonds | 49,064 | 744 | (152 | ) | 49,656 | 31,367 | 604 | (205 | ) | 31,766 | |||||||||||||||||||||||
U.S. government and | |||||||||||||||||||||||||||||||||
agency securities | 757,954 | 91 | (129 | ) | 757,916 | 548,568 | 1,135 | (184 | ) | 549,519 | |||||||||||||||||||||||
Foreign government and | |||||||||||||||||||||||||||||||||
agency securities | 197,932 | — | — | 197,932 | 354,935 | — | — | 354,935 | |||||||||||||||||||||||||
Mortgage-backed securities | 1,075,730 | 8,942 | (4,496 | ) | 1,080,176 | 1,234,237 | 11,380 | (10,528 | ) | 1,235,089 | |||||||||||||||||||||||
Asset-backed securities | 211,487 | 1,130 | (159 | ) | 212,458 | — | — | — | — | ||||||||||||||||||||||||
Debt mutual funds | 101,350 | — | (6,150 | ) | 95,200 | 81,350 | 216 | (4,652 | ) | 76,914 | |||||||||||||||||||||||
Bank loans | 98,131 | 29 | (60 | ) | 98,100 | — | — | — | — | ||||||||||||||||||||||||
$ | 3,471,735 | $ | 10,961 | $ | (11,340 | ) | $ | 3,471,356 | $ | 3,606,739 | $ | 16,763 | $ | (18,153 | ) | $ | 3,605,349 | ||||||||||||||||
Fair values and gross unrealized losses of the investments | The following tables show the fair values and gross unrealized losses of the Company’s investments, aggregated by investment category, for individual securities that have been in a continuous unrealized loss position for the length of time specified, as of March 28, 2015 and March 29, 2014: | ||||||||||||||||||||||||||||||||
March 28, 2015 | |||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | |||||||||||||||||||||||||||||||
(In thousands) | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | |||||||||||||||||||||||||||
Non-financial institution securities | $ | 7,190 | $ | (6 | ) | $ | — | $ | — | $ | 7,190 | $ | (6 | ) | |||||||||||||||||||
Auction rate securities | — | — | 10,312 | (188 | ) | 10,312 | (188 | ) | |||||||||||||||||||||||||
Municipal bonds | 10,014 | (94 | ) | 1,931 | (58 | ) | 11,945 | (152 | ) | ||||||||||||||||||||||||
U.S. government and | |||||||||||||||||||||||||||||||||
agency securities | 451,296 | (129 | ) | — | — | 451,296 | (129 | ) | |||||||||||||||||||||||||
Mortgage-backed securities | 448,770 | (3,169 | ) | 49,207 | (1,327 | ) | 497,977 | (4,496 | ) | ||||||||||||||||||||||||
Asset-backed securities | 75,009 | (159 | ) | — | — | 75,009 | (159 | ) | |||||||||||||||||||||||||
Debt mutual funds | 38,608 | (1,392 | ) | 56,592 | (4,758 | ) | 95,200 | (6,150 | ) | ||||||||||||||||||||||||
Bank loans | 65,085 | (60 | ) | — | — | 65,085 | (60 | ) | |||||||||||||||||||||||||
$ | 1,095,972 | $ | (5,009 | ) | $ | 118,042 | $ | (6,331 | ) | $ | 1,214,014 | $ | (11,340 | ) | |||||||||||||||||||
29-Mar-14 | |||||||||||||||||||||||||||||||||
Less Than 12 Months | 12 Months or Greater | Total | |||||||||||||||||||||||||||||||
(In thousands) | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | Fair Value | Gross Unrealized Losses | |||||||||||||||||||||||||||
Non-financial institution securities | $ | 112,470 | $ | (1,167 | ) | $ | 4,488 | $ | (77 | ) | $ | 116,958 | $ | (1,244 | ) | ||||||||||||||||||
Auction rate securities | — | — | 20,160 | (1,340 | ) | 20,160 | (1,340 | ) | |||||||||||||||||||||||||
Municipal bonds | 5,917 | (166 | ) | 1,743 | (39 | ) | 7,660 | (205 | ) | ||||||||||||||||||||||||
U.S. government and | |||||||||||||||||||||||||||||||||
agency securities | 118,125 | (184 | ) | — | — | 118,125 | (184 | ) | |||||||||||||||||||||||||
Mortgage-backed securities | 457,903 | (7,225 | ) | 132,376 | (3,303 | ) | 590,279 | (10,528 | ) | ||||||||||||||||||||||||
Debt mutual fund | 56,698 | (4,652 | ) | — | — | 56,698 | (4,652 | ) | |||||||||||||||||||||||||
$ | 751,113 | $ | (13,394 | ) | $ | 158,767 | $ | (4,759 | ) | $ | 909,880 | $ | (18,153 | ) | |||||||||||||||||||
Amortized cost and estimated fair value of marketable debt securities | |||||||||||||||||||||||||||||||||
March 28, 2015 | |||||||||||||||||||||||||||||||||
(In thousands) | Amortized | Estimated | |||||||||||||||||||||||||||||||
Cost | Fair Value | ||||||||||||||||||||||||||||||||
Due in one year or less | $ | 1,583,478 | $ | 1,583,407 | |||||||||||||||||||||||||||||
Due after one year through five years | 334,112 | 334,318 | |||||||||||||||||||||||||||||||
Due after five years through ten years | 293,754 | 294,645 | |||||||||||||||||||||||||||||||
Due after ten years | 923,459 | 928,202 | |||||||||||||||||||||||||||||||
$ | 3,134,803 | $ | 3,140,572 | ||||||||||||||||||||||||||||||
Information on sale of available-for-sale securities | Certain information related to available-for-sale securities is as follows: | ||||||||||||||||||||||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||||||||||||||||||||||
Gross realized gains on sale of available-for-sale securities | $ | 15,101 | $ | 2,080 | $ | 3,488 | |||||||||||||||||||||||||||
Gross realized losses on sale of available-for-sale securities | (3,223 | ) | (2,412 | ) | (673 | ) | |||||||||||||||||||||||||||
Net realized gains (losses) on sale of available-for-sale securities | $ | 11,878 | $ | (332 | ) | $ | 2,815 | ||||||||||||||||||||||||||
Amortization of premiums on available-for-sale securities | $ | 23,579 | $ | 27,293 | $ | 25,123 | |||||||||||||||||||||||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 12 Months Ended | |||||||||
Mar. 28, 2015 | ||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||
Forward currency exchange contracts outstanding | As of March 28, 2015 and March 29, 2014, the Company had the following outstanding forward currency exchange contracts (in notional amount), which were derivative financial instruments: | |||||||||
(In thousands and U.S. dollars) | March 28, 2015 | 29-Mar-14 | ||||||||
Singapore Dollar | $ | 43,901 | $ | 60,551 | ||||||
Euro | 29,973 | 46,062 | ||||||||
Indian Rupee | 22,228 | 18,631 | ||||||||
British Pound | 12,946 | 12,056 | ||||||||
Japanese Yen | 4,994 | 9,273 | ||||||||
$ | 114,042 | $ | 146,573 | |||||||
Derivative Instruments Located on Condensed Consolidated Balance Sheet | The Company had the following derivative instruments as of March 28, 2015 and March 29, 2014, located on the consolidated balance sheet, utilized for risk management purposes detailed above: | |||||||||
Foreign Exchange Contracts | ||||||||||
Asset Derivatives | Liability Derivatives | |||||||||
(In thousands) | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value | ||||||
March 28, 2015 | Prepaid expenses and other current assets | $ | — | Other accrued liabilities | $ | 9,320 | ||||
29-Mar-14 | Prepaid expenses and other current assets | $ | 2,648 | Other accrued liabilities | $ | 935 | ||||
Effect Of Derivative Instruments On Condensed Consolidated Statements Of Income | The following table summarizes the effect of derivative instruments on the consolidated statements of income for fiscal 2015 and 2014: | |||||||||
Foreign Exchange Contracts | ||||||||||
(In thousands) | 2015 | 2014 | ||||||||
Amount of gains (losses) recognized in other comprehensive income on derivative (effective portion of cash flow hedging) | $ | (8,321 | ) | $ | 2,167 | |||||
Amount of losses reclassified from accumulated other comprehensive income into income (effective portion) * | $ | (2,753 | ) | $ | (1,707 | ) | ||||
Amount of gains (losses) recorded (ineffective portion) * | $ | 43 | $ | (13 | ) | |||||
* | Recorded in Interest and Other Expense location within the consolidated statements of income. |
StockBased_Compensation_Plans_
Stock-Based Compensation Plans (Tables) | 12 Months Ended | ||||||||||||
Mar. 28, 2015 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||
Stock-Based compensation expense | The following table summarizes stock-based compensation expense related to stock awards granted under the Company’s equity incentive plans and rights to acquire stock granted under the Company’s ESPP: | ||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||
Stock-based compensation included in: | |||||||||||||
Cost of revenues | $ | 8,101 | $ | 7,602 | $ | 6,356 | |||||||
Research and development | 50,185 | 46,197 | 37,937 | ||||||||||
Selling, general and administrative | 40,994 | 40,515 | 33,569 | ||||||||||
Restructuring charges | 579 | — | — | ||||||||||
Stock-based compensation effect on income before taxes | 99,859 | 94,314 | 77,862 | ||||||||||
Income tax effect | (29,268 | ) | (27,327 | ) | (22,137 | ) | |||||||
Net stock-based compensation effect on net income | $ | 70,591 | $ | 66,987 | $ | 55,725 | |||||||
Employee stock purchase plan, valuation assumptions | These fair values per share were estimated at the date of grant using the following weighted-average assumptions: | ||||||||||||
Employee Stock Purchase Plan | |||||||||||||
2015 | 2014 | 2013 | |||||||||||
Expected life of options (years) | 1.3 | 1.3 | 1.3 | ||||||||||
Expected stock price volatility | 0.25 | 0.24 | 0.26 | ||||||||||
Risk-free interest rate | 0.3 | % | 0.2 | % | 0.2 | % | |||||||
Dividend yield | 2.9 | % | 2.4 | % | 2.7 | % | |||||||
Summary of restricted stock unit activity and related information | The per share weighted-average fair value of RSUs granted during fiscal 2015, 2014 and 2013 were $43.11, $38.90 and $31.58, respectively. The weighted average fair value of RSUs granted in fiscal 2015, 2014 and 2013 were calculated based on estimates at the date of grant using the following weighted-average assumptions: | ||||||||||||
2015 | 2014 | 2013 | |||||||||||
Risk-free interest rate | 0.8 | % | 0.7 | % | 0.4 | % | |||||||
Dividend yield | 2.5 | % | 2.5 | % | 2.7 | % | |||||||
Stock options, vested and expected to vest, outstanding | Options outstanding that have vested and are expected to vest in future periods as of March 28, 2015 are as follows: | ||||||||||||
(Shares and intrinsic value in thousands) | Number of Shares | Weighted-Average Exercise Price Per Share | Weighted-Average Remaining Contractual Term (Years) | Aggregate Intrinsic Value (1) | |||||||||
Vested (i.e., exercisable) | 3,173 | $24.59 | 1.51 | $ | 56,276 | ||||||||
Expected to vest | 70 | $34.32 | 3.83 | $ | 561 | ||||||||
Total vested and expected to vest | 3,243 | $24.80 | 1.56 | $ | 56,837 | ||||||||
Total outstanding | 3,247 | $24.81 | 1.57 | $ | 56,873 | ||||||||
-1 | These amounts represent the difference between the exercise price and $42.32, the closing price per share of Xilinx’s stock on March 28, 2015, for all in-the-money options outstanding. | ||||||||||||
Shares available for grant under stock option plan | A summary of shares available for grant under the 2007 Equity Plan is as follows: | ||||||||||||
(Shares in thousands) | Shares Available for Grant | ||||||||||||
March 31, 2012 | 14,908 | ||||||||||||
Additional shares reserved | 3,500 | ||||||||||||
Stocks options granted | (92 | ) | |||||||||||
Stock options cancelled | 209 | ||||||||||||
RSUs granted | (3,018 | ) | |||||||||||
RSUs cancelled | 483 | ||||||||||||
March 30, 2013 | 15,990 | ||||||||||||
Additional shares reserved | 2,000 | ||||||||||||
Stocks options granted | (8 | ) | |||||||||||
Stock options cancelled | 26 | ||||||||||||
RSUs granted | (3,297 | ) | |||||||||||
RSUs cancelled | 326 | ||||||||||||
March 29, 2014 | 15,037 | ||||||||||||
Additional shares reserved | 3,000 | ||||||||||||
Stocks options granted | — | ||||||||||||
Stock options cancelled | 6 | ||||||||||||
RSUs granted | (3,201 | ) | |||||||||||
RSUs cancelled | 531 | ||||||||||||
March 28, 2015 | 15,373 | ||||||||||||
Stock options outstanding and exercisable under stock option plans, by exercise price range | The following information relates to options outstanding and exercisable under the Option Plans as of March 28, 2015: | ||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||
Weighted- | Weighted- | Weighted- | |||||||||||
(Shares in thousands) | Average | Average | Average | ||||||||||
Remaining | Exercise | Exercise | |||||||||||
Options | Contractual Term | Price Per | Options | Price Per | |||||||||
Range of Exercise Prices | Outstanding | (Years) | Share | Exercisable | Share | ||||||||
$15.95 - $19.79 | 74 | 0.98 | $18.21 | 74 | $15.95 | ||||||||
$20.57 - $29.27 | 2,945 | 1.41 | $24.27 | 2,944 | $20.57 | ||||||||
$30.21 - $38.56 | 227 | 3.73 | $33.94 | 154 | $30.21 | ||||||||
$40.37 - $40.37 | 1 | 5.21 | $40.37 | 1 | $40.37 | ||||||||
3,247 | 1.57 | $24.81 | 3,173 | $24.59 | |||||||||
Employee Stock Option [Member] | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||
Summary of restricted stock unit activity and related information | A summary of the Company’s RSU activity and related information is as follows: | ||||||||||||
RSUs Outstanding | |||||||||||||
(Shares and intrinsic value in thousands) | Number of Shares | Weighted-Average Grant-Date Fair Value Per Share | Weighted Average Remaining Contractual Term (Years) | Aggregate Intrinsic Value (1) | |||||||||
31-Mar-12 | 5,239 | $29.01 | |||||||||||
Granted | 3,018 | $31.58 | |||||||||||
Vested (2) | (1,778 | ) | $27.01 | ||||||||||
Cancelled | (483 | ) | $29.69 | ||||||||||
30-Mar-13 | 5,996 | $30.83 | |||||||||||
Granted | 3,297 | $38.90 | |||||||||||
Vested (2) | (2,066 | ) | $29.25 | ||||||||||
Cancelled | (326 | ) | $32.28 | ||||||||||
29-Mar-14 | 6,901 | $35.08 | |||||||||||
Granted | 3,201 | $43.11 | |||||||||||
Vested (2) | (2,698 | ) | $33.82 | ||||||||||
Cancelled | (531 | ) | $32.91 | ||||||||||
March 28, 2015 | 6,873 | $39.07 | 2.29 | $ | 291,021 | ||||||||
Expected to vest as of March 28, 2015 | 5,814 | $39.00 | 2.3 | $ | 246,045 | ||||||||
-1 | Aggregate intrinsic value for RSUs represents the closing price per share of Xilinx’s stock on March 28, 2015 of $42.32, multiplied by the number of RSUs outstanding or expected to vest as of March 28, 2015. | ||||||||||||
-2 | The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements. | ||||||||||||
Summary of option plans activity | A summary of the Company’s Option Plans activity and related information is as follows: | ||||||||||||
Options Outstanding | |||||||||||||
(Shares in thousands) | Number of Shares | Weighted-Average Exercise Price Per Share | |||||||||||
31-Mar-12 | 17,788 | $28.32 | |||||||||||
Granted | 92 | $33.83 | |||||||||||
Exercised | (3,564 | ) | $24.68 | ||||||||||
Forfeited/cancelled/expired | (1,563 | ) | $39.54 | ||||||||||
30-Mar-13 | 12,753 | $28.01 | |||||||||||
Granted | 8 | $41.08 | |||||||||||
Exercised | (7,421 | ) | $29.95 | ||||||||||
Forfeited/cancelled/expired | (60 | ) | $35.61 | ||||||||||
29-Mar-14 | 5,280 | $25.22 | |||||||||||
Granted | — | — | |||||||||||
Exercised | (2,009 | ) | $25.80 | ||||||||||
Forfeited/cancelled/expired | (24 | ) | $32.22 | ||||||||||
March 28, 2015 | 3,247 | $24.81 | |||||||||||
Options exercisable at: | |||||||||||||
March 28, 2015 | 3,173 | $24.59 | |||||||||||
March 29, 2014 | 4,935 | $24.87 | |||||||||||
Balance_Sheet_Information_Tabl
Balance Sheet Information (Tables) | 12 Months Ended | |||||||
Mar. 28, 2015 | ||||||||
Payables and Accruals [Abstract] | ||||||||
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | The following tables disclose the current liabilities that individually exceed 5% of the respective consolidated balance sheet amounts in each fiscal year. Individual balances that are less than 5% of the respective consolidated balance sheet amounts are aggregated and disclosed as "other." | |||||||
(In thousands) | 2015 | 2014 | ||||||
Accrued payroll and related liabilities: | ||||||||
Accrued compensation | $ | 79,312 | $ | 90,865 | ||||
Deferred compensation plan liability | 70,163 | 59,569 | ||||||
Other | 7,125 | 6,939 | ||||||
$ | 156,600 | $ | 157,373 | |||||
Other accrued liabilities: | ||||||||
Interest payable | $ | 5,432 | $ | 5,935 | ||||
Forward currency exchange contracts | 9,320 | 935 | ||||||
Restructuring Charges | 14,634 | — | ||||||
Other | 35,290 | 42,386 | ||||||
$ | 64,676 | $ | 49,256 | |||||
Restructuring_Charges_Restruct
Restructuring Charges Restructuring Charges (Tables) | 12 Months Ended | |||||||||||||||
Mar. 28, 2015 | ||||||||||||||||
Restructuring and Related Costs [Abstract] | ||||||||||||||||
Restructuring and Related Costs [Table Text Block] | The following table summarizes the restructuring accrual activity for fiscal 2015: | |||||||||||||||
(In thousands) | Employee severance and benefits | Write off of acquisition-related intangibles | Others | Total | ||||||||||||
Restructuring charges for the year ended March 28, 2015 | $ | 13,531 | $ | 6,578 | $ | 4,382 | $ | 24,491 | ||||||||
Cash payments | (2,647 | ) | — | — | (2,647 | ) | ||||||||||
Non-cash charges | (579 | ) | (6,578 | ) | (53 | ) | (7,210 | ) | ||||||||
Balance as of March 28, 2015 | $ | 10,305 | $ | — | $ | 4,329 | $ | 14,634 | ||||||||
Commitments_Tables
Commitments (Tables) | 12 Months Ended | |||
Mar. 28, 2015 | ||||
Commitments and Contingencies Disclosure [Abstract] | ||||
Future minimum lease payments under non-cancelable operating leases | Approximate future minimum lease payments under non-cancelable operating leases are as follows: | |||
Fiscal | (In thousands) | |||
2016 | $ | 5,418 | ||
2017 | 2,883 | |||
2018 | 2,523 | |||
2019 | 1,863 | |||
2020 | 1,391 | |||
Thereafter | 2,235 | |||
Total | $ | 16,313 | ||
Net_Income_Per_Common_Share_Ea
Net Income Per Common Share Earnings Per Share (Tables) | 12 Months Ended | |||||||||||
Mar. 28, 2015 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The following table summarizes the computation of basic and diluted net income per common share: | |||||||||||
(In thousands, except per share amounts) | 2015 | 2014 | 2013 | |||||||||
Net income available to common stockholders | $ | 648,216 | $ | 630,388 | $ | 487,536 | ||||||
Weighted average common shares outstanding-basic | 265,480 | 266,431 | 261,652 | |||||||||
Dilutive effect of employee equity incentive plans | 3,257 | 4,508 | 4,146 | |||||||||
Dilutive effect of 2017 Convertible Notes and warrants | 7,386 | 8,544 | 2,924 | |||||||||
Dilutive effect of 2037 Convertible Notes | — | 7,913 | 3,851 | |||||||||
Weighted average common shares outstanding-diluted | 276,123 | 287,396 | 272,573 | |||||||||
Basic earnings per common share | $ | 2.44 | $ | 2.37 | $ | 1.86 | ||||||
Diluted earnings per common share | $ | 2.35 | $ | 2.19 | $ | 1.79 | ||||||
Recovered_Sheet1
Interest And Other Expense, Net (Tables) | 12 Months Ended | |||||||||||
Mar. 28, 2015 | ||||||||||||
Other Income and Expenses [Abstract] | ||||||||||||
Components of interest and other expense, net | The components of interest and other expense, net are as follows: | |||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | |||||||||
Interest income | $ | 35,876 | $ | 28,079 | $ | 25,574 | ||||||
Interest expense | (55,431 | ) | (54,035 | ) | (55,069 | ) | ||||||
Other income (expense), net | 4,553 | (3,597 | ) | (4,231 | ) | |||||||
$ | (15,002 | ) | $ | (29,553 | ) | $ | (33,726 | ) | ||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended | |||||||
Mar. 28, 2015 | ||||||||
Equity [Abstract] | ||||||||
Components of accumulated other comprehensive income (loss) | The components of accumulated other comprehensive loss are as follows: | |||||||
(In thousands) | 2015 | 2014 | ||||||
Accumulated unrealized losses on available-for-sale securities, net of tax | $ | (238 | ) | $ | (889 | ) | ||
Accumulated unrealized gains (losses) on hedging transactions, net of tax | (7,523 | ) | 798 | |||||
Accumulated cumulative translation adjustment, net of tax | (3,388 | ) | (457 | ) | ||||
Accumulated other comprehensive loss | $ | (11,149 | ) | $ | (548 | ) |
Debt_and_Credit_Facility_Table
Debt and Credit Facility (Tables) | 12 Months Ended | ||||||||||||
Mar. 28, 2015 | |||||||||||||
Schedule of Debt Instruments [Line Items] | |||||||||||||
Interest Expense Related to Debentures [Table Text Block] | Prior to the redemption, interest expense related to the 2037 Convertible Notes was included in interest and other expense, net on the consolidated statements of income, and was recognized as follows: | ||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||
Contractual coupon interest | $ | — | $ | 20,065 | $ | 21,551 | |||||||
Amortization of debt issuance costs | — | 223 | 223 | ||||||||||
Amortization of embedded derivative | — | 58 | 58 | ||||||||||
Amortization of debt discount | — | 5,187 | 4,828 | ||||||||||
Fair value adjustment of embedded derivative | — | (1,090 | ) | 159 | |||||||||
Total interest expense related to the 2037 Convertible Notes | $ | — | $ | 24,443 | $ | 26,819 | |||||||
2017 Convertible Notes | |||||||||||||
Schedule of Debt Instruments [Line Items] | |||||||||||||
Carrying values of liability and equity components of debentures | The carrying values of the liability and equity components of the 2017 Convertible Notes are reflected in the Company’s consolidated balance sheets as follows: | ||||||||||||
(In thousands) | 2015 | 2014 | |||||||||||
Liability component: | |||||||||||||
Principal amount of the 2017 Convertible Notes | $ | 600,000 | $ | 600,000 | |||||||||
Unamortized discount of liability component | (33,679 | ) | (49,223 | ) | |||||||||
Hedge accounting adjustment – sale of interest rate swap | 9,732 | 14,224 | |||||||||||
Net carrying value of the 2017 Convertible Notes | $ | 576,053 | $ | 565,001 | |||||||||
Equity component (including temporary equity) – net carrying value | $ | 66,415 | $ | 66,415 | |||||||||
2017 Convertible Notes | 2017 Convertible Notes | |||||||||||||
Schedule of Debt Instruments [Line Items] | |||||||||||||
Interest Expense Related to Debentures [Table Text Block] | Interest expense related to the 2017 Convertible Notes was included in interest and other expense, net on the consolidated statements of income as follows: | ||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||
Contractual coupon interest | $ | 15,750 | $ | 15,750 | $ | 15,750 | |||||||
Amortization of debt issuance costs | 1,448 | 1,448 | 1,448 | ||||||||||
Amortization of debt discount, net | 11,052 | 11,052 | 11,052 | ||||||||||
Total interest expense related to the 2017 Convertible Notes | $ | 28,250 | $ | 28,250 | $ | 28,250 | |||||||
2019 and 2021 Notes Payable [Member] | |||||||||||||
Schedule of Debt Instruments [Line Items] | |||||||||||||
Schedule of Long-term Debt Instruments [Table Text Block] | The following table summarizes the carrying value of the 2019 and 2021 Notes in the Company's consolidated balance sheets: | ||||||||||||
(In thousands) | 2015 | 2014 | |||||||||||
Principal amount of the 2019 Notes | $ | 500,000 | $ | 500,000 | |||||||||
Unamortized discount of the 2019 Notes | (2,073 | ) | (2,574 | ) | |||||||||
Principal amount of the 2021 Notes | 500,000 | 500,000 | |||||||||||
Unamortized discount of the 2021 Notes | (3,088 | ) | (3,556 | ) | |||||||||
Total senior notes | $ | 994,839 | $ | 993,870 | |||||||||
Interest Expense Related to Debentures [Table Text Block] | Interest expense related to the 2019 and 2021 Notes was included in interest and other expense, net on the consolidated statements of income as follows: | ||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||
Contractual coupon interest | $ | 25,625 | $ | 1,210 | $ | — | |||||||
Amortization of debt issuance costs | 586 | 52 | — | ||||||||||
Amortization of debt discount, net | 970 | 80 | — | ||||||||||
Total interest expense related to the 2019 and 2021 Notes | $ | 27,181 | $ | 1,342 | $ | — | |||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Mar. 28, 2015 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Schedule of Provision for Income Taxes | The provision for income taxes consists of the following: | ||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||
Federal: | |||||||||||||
Current | $ | 61,308 | $ | 16,692 | $ | 97,108 | |||||||
Deferred | 17,121 | 48,021 | (45,465 | ) | |||||||||
78,429 | 64,713 | 51,643 | |||||||||||
State: | |||||||||||||
Current | 3,330 | 1,333 | 1,007 | ||||||||||
Deferred | 1,803 | 5,954 | 1,742 | ||||||||||
5,133 | 7,287 | 2,749 | |||||||||||
Foreign: | |||||||||||||
Current | 9,433 | 7,264 | 5,455 | ||||||||||
Deferred | (1,135 | ) | (126 | ) | (377 | ) | |||||||
8,298 | 7,138 | 5,078 | |||||||||||
Total | $ | 91,860 | $ | 79,138 | $ | 59,470 | |||||||
Schedule of Income before Income Tax, Domestic and Foreign | The domestic and foreign components of income before income taxes were as follows: | ||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||
Domestic | $ | 110,881 | $ | 83,617 | $ | 45,617 | |||||||
Foreign | 629,195 | 625,909 | 501,389 | ||||||||||
Income before income taxes | $ | 740,076 | $ | 709,526 | $ | 547,006 | |||||||
Schedule of Effective Income Tax Rate Reconciliation | The provision for income taxes reconciles to the amount derived by applying the Federal statutory income tax rate to income before provision for taxes as follows: | ||||||||||||
(In thousands) | March 28, 2015 | March 29, 2014 | March 30, 2013 | ||||||||||
Income before provision for taxes | $ | 740,076 | $ | 709,526 | $ | 547,006 | |||||||
Federal statutory tax rate | 35 | % | 35 | % | 35 | % | |||||||
Computed expected tax | 259,027 | 248,334 | 191,452 | ||||||||||
State taxes, net of federal benefit | 2,458 | 4,664 | 1,787 | ||||||||||
Foreign earnings at lower tax rates | (141,372 | ) | (143,336 | ) | (107,730 | ) | |||||||
Tax credits | (26,633 | ) | (23,389 | ) | (26,305 | ) | |||||||
Other | (1,620 | ) | (7,135 | ) | 266 | ||||||||
Provision for income taxes | $ | 91,860 | $ | 79,138 | $ | 59,470 | |||||||
Schedule of Deferred Tax Assets and Liabilities | The major components of deferred tax assets and liabilities consisted of the following as of March 28, 2015 and March 29, 2014: | ||||||||||||
(In thousands) | 2015 | 2014 | |||||||||||
Deferred tax assets: | |||||||||||||
Stock-based compensation | $ | 18,233 | $ | 21,142 | |||||||||
Deferred income on shipments to distributors | 9,207 | 8,097 | |||||||||||
Accrued expenses | 28,318 | 26,864 | |||||||||||
Tax credit carryforwards | 86,650 | 79,272 | |||||||||||
Deferred compensation plan | 26,079 | 22,280 | |||||||||||
Low income housing and other investments | 10,247 | 6,735 | |||||||||||
Other | 10,706 | 6,685 | |||||||||||
Subtotal | 189,440 | 171,075 | |||||||||||
Valuation allowance | (52,552 | ) | (43,004 | ) | |||||||||
Total deferred tax assets | 136,888 | 128,071 | |||||||||||
Deferred tax liabilities: | |||||||||||||
Unremitted foreign earnings | (280,322 | ) | (253,231 | ) | |||||||||
Convertible debt | (3,220 | ) | (4,670 | ) | |||||||||
Other | (3,987 | ) | (5,493 | ) | |||||||||
Total deferred tax liabilities | (287,529 | ) | (263,394 | ) | |||||||||
Total net deferred tax liabilities | $ | (150,641 | ) | $ | (135,323 | ) | |||||||
Schedule of Changes to Unrecognized Income Tax Benefits | The aggregate changes in the balance of gross unrecognized tax benefits for fiscal 2015 and 2014 were as follows: | ||||||||||||
(In thousands) | 2015 | 2014 | |||||||||||
Balance as of beginning of fiscal year | $ | 26,398 | $ | 69,957 | |||||||||
Increases in tax positions for prior years | 97 | 163 | |||||||||||
Decreases in tax positions for prior years | (37 | ) | (35,615 | ) | |||||||||
Increases in tax positions for current year | 4,822 | 3,687 | |||||||||||
Settlements | — | (6,030 | ) | ||||||||||
Lapses in statutes of limitation | (1,191 | ) | (5,764 | ) | |||||||||
Balance as of end of fiscal year | $ | 30,089 | $ | 26,398 | |||||||||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||||
Mar. 28, 2015 | ||||||||||||
Segment Reporting [Abstract] | ||||||||||||
Schedule of Segment Reporting Information, by Segment | Net revenues by geographic region were as follows: | |||||||||||
(In thousands) | 28-Mar-15 | 29-Mar-14 | 30-Mar-13 | |||||||||
North America: | ||||||||||||
United States | $ | 625,434 | $ | 610,276 | $ | 558,309 | ||||||
Other | 112,900 | 97,416 | 97,251 | |||||||||
Total North America | 738,334 | 707,692 | 655,560 | |||||||||
Asia Pacific: | ||||||||||||
China | 573,007 | 564,814 | 428,892 | |||||||||
Other | 357,598 | 375,013 | 324,920 | |||||||||
Total Asia Pacific | 930,605 | 939,827 | 753,812 | |||||||||
Europe | 477,102 | 519,829 | 548,375 | |||||||||
Japan | 231,303 | 215,183 | 210,905 | |||||||||
Worldwide total | $ | 2,377,344 | $ | 2,382,531 | $ | 2,168,652 | ||||||
Net long-lived assets by country at fiscal year-ends were as follows: | ||||||||||||
(In thousands) | 2015 | 2014 | 2013 | |||||||||
United States | $ | 195,353 | $ | 237,229 | $ | 240,429 | ||||||
Foreign: | ||||||||||||
Ireland | 46,216 | 48,043 | 50,627 | |||||||||
Singapore | 43,020 | 51,569 | 56,481 | |||||||||
Other | 16,449 | 18,248 | 18,150 | |||||||||
Total foreign | 105,685 | 117,860 | 125,258 | |||||||||
Worldwide total | $ | 301,038 | $ | 355,089 | $ | 365,687 | ||||||
Goodwill_and_AcquisitionRelate1
Goodwill and Acquisition-Related Intangibles (Tables) | 12 Months Ended | |||||||||
Mar. 28, 2015 | ||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||
Gross and net amounts of goodwill and of acquisition-related intangibles | As of March 28, 2015 and March 29, 2014, the gross and net amounts of goodwill and of acquisition-related intangibles for all acquisitions were as follows: | |||||||||
Weighted-Average | ||||||||||
(In thousands) | 2015 | 2014 | Amortization Life | |||||||
Goodwill | $ | 159,296 | $ | 159,296 | ||||||
Core technology, gross | 77,640 | 91,860 | 5.6 years | |||||||
Less accumulated amortization | (64,988 | ) | (63,267 | ) | ||||||
Core technology, net | 12,652 | 28,593 | ||||||||
Other intangibles, gross | 46,606 | 46,716 | 2.7 years | |||||||
Less accumulated amortization | (46,506 | ) | (46,442 | ) | ||||||
Other intangibles, net | 100 | 274 | ||||||||
Total acquisition-related intangibles, gross | 124,246 | 138,576 | ||||||||
Less accumulated amortization | (111,494 | ) | (109,709 | ) | ||||||
Total acquisition-related intangibles, net | $ | 12,752 | $ | 28,867 | ||||||
Schedule of expected annual amortization expense for acquisition-related intangibles | Based on the carrying value of acquisition-related intangibles recorded as of March 28, 2015, and assuming no subsequent impairment of the underlying assets, the annual amortization expense for acquisition-related intangibles is expected to be as follows: | |||||||||
Fiscal | (In thousands) | |||||||||
2016 | $ | 6,550 | ||||||||
2017 | 4,761 | |||||||||
2018 | 1,374 | |||||||||
2019 | 67 | |||||||||
Thereafter | — | |||||||||
Total | $ | 12,752 | ||||||||
Nature_of_Operations_Details
Nature of Operations (Details) (Asia Pacific, Europe, and Japan [Member], Sales Revenue, Goods, Net [Member], Geographic Concentration Risk [Member]) | 12 Months Ended |
Mar. 28, 2015 | |
Asia Pacific, Europe, and Japan [Member] | Sales Revenue, Goods, Net [Member] | Geographic Concentration Risk [Member] | |
Concentration Risk [Line Items] | |
Concentration Risk, Percentage | 50.00% |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies and Concentrations of Risk (Investments) (Details) (USD $) | Mar. 28, 2015 | Mar. 29, 2014 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Long-term investments | $266,902 | $1,190,775 |
Auction Rate Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Long-term investments | $10,312 | $20,160 |
Summary_of_Significant_Account4
Summary of Significant Accounting Policies and Concentrations of Risk (Inventory) (Details) (USD $) | Mar. 28, 2015 | Mar. 29, 2014 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ||
Raw materials | $14,174 | $15,306 |
Work-in-process | 183,472 | 192,067 |
Finished goods | 33,682 | 26,626 |
Total inventories | $231,328 | $233,999 |
Summary_of_Significant_Account5
Summary of Significant Accounting Policies and Concentrations of Risk (PPE) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 |
Property, Plant and Equipment [Line Items] | |||
Depreciation | $55,266 | $55,464 | $56,327 |
Machinery, Equipment, Furniture And Fixtures [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, estimated useful life | 3 years | ||
Machinery, Equipment, Furniture And Fixtures [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, estimated useful life | 5 years | ||
Buildings [Member] | Minimum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, estimated useful life | 15 years | ||
Buildings [Member] | Maximum [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, estimated useful life | 30 years |
Summary_of_Significant_Account6
Summary of Significant Accounting Policies and Concentrations of Risk (Concentrations) (Details) | 12 Months Ended | ||
Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 | |
Customer | Customer | Customer | |
Concentration Risk [Line Items] | |||
Percentage of total accounts receivable accounted from Avnet | 67.00% | 55.00% | |
Percentage of net revenues through resale of product from Avnet | 43.00% | 46.00% | 46.00% |
Number of end customers accounted for net revenues | 0 | 0 | 0 |
Percentage of mortgage-backed securities in total investment portfolio | 31.00% | ||
Minimum [Member] | |||
Concentration Risk [Line Items] | |||
Percentage of higher grade securities investment in debt securities (more than) | 90.00% | ||
Sales Revenue, Goods, Net [Member] | Support Products [Member] | Maximum [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 5.00% | 5.00% | 5.00% |
Summary_of_Significant_Account7
Summary of Significant Accounting Policies and Concentrations of Risk (Other) (Details) (USD $) | 12 Months Ended | ||
Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 | |
Customer | Customer | Customer | |
Summary of Significant Accounting Policies and Concentrations of Risk [Abstract] | |||
Held-to-maturity Securities | $0 | $0 | |
Impairment of goodwill | 0 | ||
Percentage of net revenues from products sold to distributors | 54.00% | ||
Deferred revenue | 87,700,000 | 75,200,000 | |
Net deferred cost of revenues | 21,600,000 | 20,100,000 | |
Deferred income on shipments to distributors | $66,071,000 | $55,099,000 | |
Number Of End Customers Accounted For Net Revenues | 0 | 0 | 0 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Mar. 28, 2015 | Mar. 29, 2014 |
In Thousands, unless otherwise specified | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Derivative Asset | $1,713 | |
Fair Value, Inputs, Level 1 [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Derivative Asset | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Derivative Asset | 1,713 | |
Fair Value, Inputs, Level 3 [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Derivative Asset | 0 | |
Fair Value, Measurements, Recurring [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 3,471,356 | 3,607,062 |
Derivative Liability | 9,251 | |
Total liabilities measured at fair value | 9,251 | |
Net assets measured at fair value | 3,462,105 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 492,097 | 637,959 |
Derivative Liability | 0 | |
Total liabilities measured at fair value | 0 | |
Net assets measured at fair value | 492,097 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 2,968,947 | 2,948,943 |
Derivative Liability | 9,251 | |
Total liabilities measured at fair value | 9,251 | |
Net assets measured at fair value | 2,959,696 | |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 10,312 | 20,160 |
Derivative Liability | 0 | |
Total liabilities measured at fair value | 0 | |
Net assets measured at fair value | 10,312 | |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Money Market Funds [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 235,583 | 213,988 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 229,999 | 131,990 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Non-financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 89,995 | 319,970 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | U.S. Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 200,392 | 69,998 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Foreign Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 37,996 | 194,984 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 235,583 | 213,988 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | Non-financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | U.S. Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 69,998 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member] | Foreign Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | Money Market Funds [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 229,999 | 131,990 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | Non-financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 89,995 | 319,970 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | U.S. Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 200,392 | 0 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 37,996 | 194,984 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | Money Market Funds [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | Non-financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | U.S. Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Cash And Cash Equivalents [Member] | Fair Value, Inputs, Level 3 [Member] | Foreign Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 75,000 | 234,916 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Non-financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 339,029 | 226,828 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Municipal Bonds [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 40,006 | 15,780 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | U.S. Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 557,524 | 438,445 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Foreign Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 159,936 | 159,951 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Asset-backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 204,510 | |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Mortgage-Backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 897,776 | 387,508 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Debt Mutual Fund [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 38,608 | 20,216 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Bank Loans [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 98,100 | |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | Non-financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | Municipal Bonds [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | U.S. Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 256,514 | 349,023 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | Foreign Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-Backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Mutual Fund [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | Bank Loans [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 75,000 | 234,916 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | Non-financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 339,029 | 226,828 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | Municipal Bonds [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 40,006 | 15,780 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | U.S. Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 301,010 | 89,422 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | Foreign Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 159,936 | 159,951 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 204,510 | |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-Backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 897,776 | 387,508 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Mutual Fund [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 38,608 | 20,216 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | Bank Loans [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 98,100 | |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | Non-financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | Municipal Bonds [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | U.S. Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | Foreign Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-Backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Mutual Fund [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | Bank Loans [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Non-financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 209,274 | |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Student loan auction rate securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 10,312 | 20,160 |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Municipal Bonds [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 9,650 | 15,986 |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | U.S. Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 41,076 | |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Asset-backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 7,948 | |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Mortgage-Backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 182,400 | 847,581 |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Debt Mutual Fund [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 56,592 | 56,698 |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | Non-financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | Student loan auction rate securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | Municipal Bonds [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | U.S. Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 4,950 | |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | Asset-backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | Mortgage-Backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | Debt Mutual Fund [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | Non-financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 209,274 | |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | Student loan auction rate securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | Municipal Bonds [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 9,650 | 15,986 |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | U.S. Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 36,126 | |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | Asset-backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 7,948 | |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-Backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 182,400 | 847,581 |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | Debt Mutual Fund [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 56,592 | 56,698 |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | Non-financial institution securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | Student loan auction rate securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 10,312 | 20,160 |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | Municipal Bonds [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | U.S. Government and Agency Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | Asset-backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | Mortgage-Backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Long-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | Debt Mutual Fund [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | $0 | $0 |
Fair_Value_Measurements_Detail1
Fair Value Measurements (Details 1) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | ||
Changes in Level 3 instruments measured at fair value on a recurring basis | ||||
Balance as of beginning of period | $20,160 | $27,610 | ||
Gains (losses) included in interest and other expense, net | 0 | 1,090 | ||
Gains (losses) included in other comprehensive income (loss) | 1,152 | 1,760 | ||
Sales and settlements, net | -11,000 | [1] | -10,300 | [1] |
Balance as of end of period | $10,312 | $20,160 | ||
[1] | During fiscal 2015 and 2014, the Company redeemed $11.0 million and $10.3 million of student loan auction rate securities, respectively, for cash at par value. |
Fair_Value_Measurements_Detail2
Fair Value Measurements (Details 2) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 |
Gains or (losses) included in net income attributable to change in unrealized gains or losses relating to assets and liabilities | |||
Interest and other expense, net | $0 | $0 | ($159) |
Fair_Value_Measurements_Detail3
Fair Value Measurements (Details Textual) (USD $) | Mar. 28, 2015 | Mar. 29, 2014 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Noncurrent | $266,902,000 | $1,190,775,000 |
Available-for-sale Securities | 3,471,356,000 | 3,605,349,000 |
2019 Notes Payable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of debentures | 501,400,000 | |
2021 Notes Payable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of debentures | 512,000,000 | |
Auction Rate Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-sale Securities, Noncurrent | 10,312,000 | 20,160,000 |
2017 Convertible Notes | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of debentures | $843,500,000 |
Financial_Instruments_Details
Financial Instruments (Details) (USD $) | Mar. 28, 2015 | Mar. 29, 2014 |
In Thousands, unless otherwise specified | ||
Available-for-sale securities | ||
Amortized Cost | $3,471,735 | $3,606,739 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 10,961 | 16,763 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | -11,340 | -18,153 |
Available-for-sale Securities, Noncurrent | 266,902 | 1,190,775 |
Estimated Fair Value | 3,471,356 | 3,605,349 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 118,042 | 158,767 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 1,214,014 | 909,880 |
Money Market Funds [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 235,583 | 213,988 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | 0 | 0 |
Estimated Fair Value | 235,583 | 213,988 |
financial institution securities [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 304,999 | 366,906 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | 0 | 0 |
Estimated Fair Value | 304,999 | 366,906 |
Non-financial institution securities [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 429,005 | 753,888 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 25 | 3,428 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | -6 | -1,244 |
Estimated Fair Value | 429,024 | 756,072 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 4,488 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 7,190 | 116,958 |
Auction Rate Securities [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 10,500 | 21,500 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | -188 | -1,340 |
Available-for-sale Securities, Noncurrent | 10,312 | 20,160 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 10,312 | 20,160 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 10,312 | 20,160 |
Municipal Bonds [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 49,064 | 31,367 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 744 | 604 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | -152 | -205 |
Estimated Fair Value | 49,656 | 31,766 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 1,931 | 1,743 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 11,945 | 7,660 |
U.S. Government and Agency Securities [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 757,954 | 548,568 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 91 | 1,135 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | -129 | -184 |
Estimated Fair Value | 757,916 | 549,519 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 451,296 | 118,125 |
Foreign Government and Agency Securities [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 197,932 | 354,935 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | 0 | 0 |
Estimated Fair Value | 197,932 | 354,935 |
Mortgage-Backed Securities [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 1,075,730 | 1,234,237 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 8,942 | 11,380 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | -4,496 | -10,528 |
Estimated Fair Value | 1,080,176 | 1,235,089 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 49,207 | 132,376 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 497,977 | 590,279 |
Asset-backed Securities [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 211,487 | 0 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 1,130 | 0 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | -159 | 0 |
Estimated Fair Value | 212,458 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 75,009 | |
Debt Mutual Fund [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 101,350 | 81,350 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 0 | 216 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | -6,150 | -4,652 |
Estimated Fair Value | 95,200 | 76,914 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 56,592 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | 95,200 | 56,698 |
Bank Loans [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 98,131 | 0 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 29 | 0 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | -60 | 0 |
Estimated Fair Value | 98,100 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $65,085 |
Financial_Instruments_Details_
Financial Instruments (Details 1) (USD $) | Mar. 28, 2015 | Mar. 29, 2014 |
In Thousands, unless otherwise specified | ||
Fair values and gross unrealized losses of the investments | ||
Available-for-Sale Securities, Less Than 12 Months, Fair Value | $1,095,972 | $751,113 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 5,009 | 13,394 |
Available-for-Sale Securities, 12 Months or Greater, Fair Value | 118,042 | 158,767 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 6,331 | 4,759 |
Available-for-Sale Securities, Fair Value, Total | 1,214,014 | 909,880 |
Available-for-Sale Securities, Gross Unrealized Losses, Total | -11,340 | -18,153 |
Non-financial institution securities [Member] | ||
Fair values and gross unrealized losses of the investments | ||
Available-for-Sale Securities, Less Than 12 Months, Fair Value | 7,190 | 112,470 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 6 | 1,167 |
Available-for-Sale Securities, 12 Months or Greater, Fair Value | 0 | 4,488 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 77 |
Available-for-Sale Securities, Fair Value, Total | 7,190 | 116,958 |
Available-for-Sale Securities, Gross Unrealized Losses, Total | -6 | -1,244 |
Auction Rate Securities [Member] | ||
Fair values and gross unrealized losses of the investments | ||
Available-for-Sale Securities, Less Than 12 Months, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Available-for-Sale Securities, 12 Months or Greater, Fair Value | 10,312 | 20,160 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 188 | 1,340 |
Available-for-Sale Securities, Fair Value, Total | 10,312 | 20,160 |
Available-for-Sale Securities, Gross Unrealized Losses, Total | -188 | -1,340 |
Municipal Bonds [Member] | ||
Fair values and gross unrealized losses of the investments | ||
Available-for-Sale Securities, Less Than 12 Months, Fair Value | 10,014 | 5,917 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 94 | 166 |
Available-for-Sale Securities, 12 Months or Greater, Fair Value | 1,931 | 1,743 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 58 | 39 |
Available-for-Sale Securities, Fair Value, Total | 11,945 | 7,660 |
Available-for-Sale Securities, Gross Unrealized Losses, Total | -152 | -205 |
U.S. Government and Agency Securities [Member] | ||
Fair values and gross unrealized losses of the investments | ||
Available-for-Sale Securities, Less Than 12 Months, Fair Value | 451,296 | 118,125 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 129 | 184 |
Available-for-Sale Securities, 12 Months or Greater, Fair Value | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | 0 |
Available-for-Sale Securities, Fair Value, Total | 451,296 | 118,125 |
Available-for-Sale Securities, Gross Unrealized Losses, Total | -129 | -184 |
Mortgage-Backed Securities [Member] | ||
Fair values and gross unrealized losses of the investments | ||
Available-for-Sale Securities, Less Than 12 Months, Fair Value | 448,770 | 457,903 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 3,169 | 7,225 |
Available-for-Sale Securities, 12 Months or Greater, Fair Value | 49,207 | 132,376 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1,327 | 3,303 |
Available-for-Sale Securities, Fair Value, Total | 497,977 | 590,279 |
Available-for-Sale Securities, Gross Unrealized Losses, Total | -4,496 | -10,528 |
Asset-backed Securities [Member] | ||
Fair values and gross unrealized losses of the investments | ||
Available-for-Sale Securities, Less Than 12 Months, Fair Value | 75,009 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 159 | |
Available-for-Sale Securities, 12 Months or Greater, Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Available-for-Sale Securities, Fair Value, Total | 75,009 | |
Available-for-Sale Securities, Gross Unrealized Losses, Total | -159 | |
Debt Mutual Fund [Member] | ||
Fair values and gross unrealized losses of the investments | ||
Available-for-Sale Securities, Less Than 12 Months, Fair Value | 38,608 | 56,698 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 1,392 | 4,652 |
Available-for-Sale Securities, 12 Months or Greater, Fair Value | 56,592 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 4,758 | 0 |
Available-for-Sale Securities, Fair Value, Total | 95,200 | 56,698 |
Available-for-Sale Securities, Gross Unrealized Losses, Total | -6,150 | -4,652 |
Bank Loans [Member] | ||
Fair values and gross unrealized losses of the investments | ||
Available-for-Sale Securities, Less Than 12 Months, Fair Value | 65,085 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 60 | |
Available-for-Sale Securities, 12 Months or Greater, Fair Value | 0 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0 | |
Available-for-Sale Securities, Fair Value, Total | 65,085 | |
Available-for-Sale Securities, Gross Unrealized Losses, Total | ($60) |
Financial_Instruments_Details_1
Financial Instruments (Details 2) (USD $) | Mar. 28, 2015 |
Investments, All Other Investments [Abstract] | |
Marketable debt securities with contractual maturities greater than one year but classified as short-term investment | $1,390,000,000 |
Amortized cost and estimated fair value of marketable debt securities | |
Amortized Cost Due in one year or less | 1,583,478,000 |
Amortized Cost Due after one year through five years | 334,112,000 |
Amortized Cost Due after five years through ten years | 293,754,000 |
Amortized Cost Due after ten years | 923,459,000 |
Amortized Cost Total | 3,134,803,000 |
Estimated Fair Value Due in one year or less | 1,583,407,000 |
Estimated Fair Value Due after one year through five years | 334,318,000 |
Estimated Fair Value Due after five years through ten years | 294,645,000 |
Estimated Fair Value Due after ten years | 928,202,000 |
Estimated Fair Value Total | $3,140,572,000 |
Financial_Instruments_Details_2
Financial Instruments (Details 3) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 |
Information on sale of available-for-sale securities | |||
Gross realized gains on sale of available-for-sale securities | $15,101 | $2,080 | $3,488 |
Gross realized losses on sale of available-for-sale securities | -3,223 | -2,412 | -673 |
Net realized gains (losses) on sale of available-for-sale securities | 11,878 | -332 | 2,815 |
Amortization of premiums on available-for-sale securities | $23,579 | $27,293 | $25,123 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Details) (USD $) | Mar. 28, 2015 | Mar. 29, 2014 |
In Thousands, unless otherwise specified | ||
Derivative [Line Items] | ||
Derivative Asset, Notional Amount | $114,042 | $146,573 |
Singapore Dollar [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Notional Amount | 43,901 | 60,551 |
Euro [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Notional Amount | 29,973 | 46,062 |
Indian Rupee [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Notional Amount | 22,228 | 18,631 |
British Pound [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Notional Amount | 12,946 | 12,056 |
Japanese Yen [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Notional Amount | $4,994 | $9,273 |
Derivative_Financial_Instrumen3
Derivative Financial Instruments (Details 1) (USD $) | Mar. 28, 2015 | Mar. 29, 2014 |
In Thousands, unless otherwise specified | ||
Derivative Instruments located on Condensed Consolidated Balance sheet | ||
Liability Derivatives, Fair Value | $9,320 | $935 |
Prepaid expenses and other current assets | ||
Derivative Instruments located on Condensed Consolidated Balance sheet | ||
Asset Derivatives, Fair Value | 0 | 2,648 |
Other accrued liabilities | ||
Derivative Instruments located on Condensed Consolidated Balance sheet | ||
Liability Derivatives, Fair Value | $9,320 | $935 |
Derivative_Financial_Instrumen4
Derivative Financial Instruments (Details 2) (Cash Flow Hedging [Member], USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | ||
Foreign Exchange Contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of gains (losses) recognized in other comprehensive income on derivative (effective portion of cash flow hedging) | ($8,321) | $2,167 | ||
Interest And Other Expense, Net [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount of gains (losses) reclassified from accumulated other comprehensive income into income (effective portion) | -2,753 | [1] | -1,707 | [1] |
Amount of gains (losses) recorded (ineffective portion) | $43 | [1] | ($13) | [1] |
[1] | Recorded in Interest and Other Expense location within the consolidated statements of income. |
Derivative_Financial_Instrumen5
Derivative Financial Instruments (Details Textual) | 12 Months Ended |
Mar. 28, 2015 | |
Derivative [Line Items] | |
Hedging Program number of years | 2 years |
Maturity of Foreign Currency Derivatives | 14-Nov-16 |
StockBased_Compensation_Plans_1
Stock-Based Compensation Plans (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 |
Stock Based compensation expense | |||
Income tax effect | ($55,000) | ($67,000) | ($32,600) |
Employee Stock Purchase Plan [Member] | |||
Stock Based compensation expense | |||
Stock-based compensation effect on income before taxes | 99,859 | 94,314 | 77,862 |
Income tax effect | -29,268 | -27,327 | -22,137 |
Net stock-based compensation effect on net income | 70,591 | 66,987 | 55,725 |
Employee Stock Purchase Plan [Member] | Cost of Revenues [Member] | |||
Stock Based compensation expense | |||
Stock-based compensation effect on income before taxes | 8,101 | 7,602 | 6,356 |
Employee Stock Purchase Plan [Member] | Research and Development [Member] | |||
Stock Based compensation expense | |||
Stock-based compensation effect on income before taxes | 50,185 | 46,197 | 37,937 |
Employee Stock Purchase Plan [Member] | Selling, General and Administrative Expenses [Member] | |||
Stock Based compensation expense | |||
Stock-based compensation effect on income before taxes | 40,994 | 40,515 | 33,569 |
Employee Stock Purchase Plan [Member] | Restructuring Charges [Member] | |||
Stock Based compensation expense | |||
Stock-based compensation effect on income before taxes | $579 | $0 | $0 |
StockBased_Compensation_Plans_2
Stock-Based Compensation Plans (Details 1) | 12 Months Ended | ||
Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 | |
Employee Stock Purchase Plan [Member] | |||
Weighted average assumptions in estimation of fair value per share of stock | |||
Expected Term | 1 year 3 months 18 days | 1 year 3 months 18 days | 1 year 3 months 18 days |
Expected Volatility | 25.30% | 24.00% | 26.00% |
Risk-free interest rate | 0.30% | 0.20% | 0.20% |
Dividend yield | 2.90% | 2.40% | 2.70% |
Restricted Stock Units (RSUs) [Member] | |||
Weighted average assumptions in estimation of fair value per share of stock | |||
Risk-free interest rate | 0.80% | 0.70% | 0.40% |
Dividend yield | 2.50% | 2.50% | 2.70% |
StockBased_Compensation_Plans_3
Stock-Based Compensation Plans (Details 2) (USD $) | 12 Months Ended | ||||
In Thousands, except Per Share data, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 | Mar. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Common stock, closing price per share | $42.32 | ||||
Employee Stock Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of Shares, Vested | 3,173 | 4,935 | |||
Number of Shares, Expected to vest | 70 | ||||
Number of Shares, Total vested and expected to vest | 3,243 | ||||
Number of Shares, Total outstanding | 3,247 | 5,280 | 12,753 | 17,788 | |
Weighted-Average Exercise Price Per Share, Vested (in dollars per share) | $24.59 | $24.87 | |||
Weighted-Average Exercise Price Per Share, Expected to vest (in dollars per share) | $34.32 | ||||
Weighted-Average Exercise Price Per Share, Total vested and expected to vest (in dollars per share) | $24.80 | ||||
Weighted-Average Exercise Price Per Share, Total outstanding (in dollars per share) | $24.81 | $25.22 | $28.01 | $28.32 | |
Weighted-Average Remaining Contractual Term, Vested (in years) | 1 year 6 months 3 days | ||||
Weighted Average Remaining Contractual Term, Expected to vest (in years) | 3 years 9 months 28 days | ||||
Weighted Average Remaining Contractual Term, Total vested and expected to vest (in years) | 1 year 6 months 22 days | ||||
Weighted Average Remaining Contractual Term, Total outstanding (in years) | 1 year 6 months 25 days | ||||
Aggregate Intrinsic Value, Vested | $56,276 | [1] | |||
Aggregate Intrinsic Value, Expected to vest | 561 | [1] | |||
Aggregate Intrinsic Value, Total vested and expected to vest | 56,837 | [1] | |||
Aggregate Intrinsic Value, Total outstanding | $56,873 | [1] | |||
[1] | These amounts represent the difference between the exercise price and $42.32, the closing price per share of Xilinx’s stock on March 28, 2015, for all in-the-money options outstanding. |
StockBased_Compensation_Plans_4
Stock-Based Compensation Plans (Details 3) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 |
Shares Available for Grant Under Option Plan [Roll Forward] | |||
Shares Available for Grant, Ending Balance | 18,600 | ||
2007 Equity Plan [Member] | |||
Shares Available for Grant Under Option Plan [Roll Forward] | |||
Shares Available for Grant, Beginning Balance | 15,037 | 15,990 | 14,908 |
Shares Available for Grant, Additional share reserved | 3,000 | 2,000 | 3,500 |
Shares Available for Grant, Stock options granted | 0 | -8 | -92 |
Shares Available for Grant, Stock options cancelled | 6 | 26 | 209 |
Shares Available for Grant, RSUs granted | -3,201 | -3,297 | -3,018 |
Shares Available for Grant, RSUs cancelled | 531 | 326 | 483 |
Shares Available for Grant, Ending Balance | 15,373 | 15,037 | 15,990 |
StockBased_Compensation_Plans_5
Stock-Based Compensation Plans (Details 4) (Employee Stock Option [Member], USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 |
Employee Stock Option [Member] | |||
Summary of option plans activity | |||
Number of Shares, Beginning balance | 5,280 | 12,753 | 17,788 |
Number of Shares, Exercised | -2,009 | -7,421 | -3,564 |
Number of Shares, Forfeited/cancelled/expired | -24 | -60 | -1,563 |
Number of Shares, Ending balance | 3,247 | 5,280 | 12,753 |
Number of Shares, Options exercisable | 3,173 | 4,935 | |
Weighted-Average Exercise Price Per Share, Beginning balance | $25.22 | $28.01 | $28.32 |
Weighted-Average Exercise Price Per Share, Granted | $0 | $41.08 | $33.83 |
Weighted-Average Exercise Price Per Share, Exercised | $25.80 | $29.95 | $24.68 |
Weighted-Average Exercise Price Per Share, Forfeited/cancelled/expired | $32.22 | $35.61 | $39.54 |
Weighted-Average Exercise Price Per Share, Ending balance | $24.81 | $25.22 | $28.01 |
Weighted-Average Exercise Price Per Share, Options exercisable | $24.59 | $24.87 |
StockBased_Compensation_Plans_6
Stock-Based Compensation Plans (Details 5) (USD $) | 12 Months Ended | |||
In Millions, except Share data in Thousands, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 | Mar. 31, 2012 |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | $2.40 | $2.40 | ||
Exercise Price Range One [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Exercise price range, lower range limit | $15.95 | |||
Exercise price range, upper range limit | $19.79 | |||
Exercise Price Range Two [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Exercise price range, lower range limit | $20.57 | |||
Exercise price range, upper range limit | $29.27 | |||
Exercise Price Range Three [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Exercise price range, lower range limit | $30.21 | |||
Exercise price range, upper range limit | $38.56 | |||
Exercise Price Range Four [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Exercise price range, lower range limit | $40.37 | |||
Exercise price range, upper range limit | $40.37 | |||
Employee Stock Option [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Options Outstanding | 3,247 | 5,280 | 12,753 | 17,788 |
Options Outstanding, Weighted Average Remaining Contractual Term (in years) | 1 year 6 months 25 days | |||
Options Outstanding, Weighted Average Exercise Price Per Share (in dollars per share) | $24.81 | $25.22 | $28.01 | $28.32 |
Options Exercisable | 3,173 | 4,935 | ||
Options Exercisable, Weighted Average Exercise Price Per Share (in dollars per share) | $24.59 | $24.87 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants In Period, Weighted Average Exercise Price1 | $0 | $41.08 | $33.83 | |
Employee Stock Option [Member] | Exercise Price Range One [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Options Outstanding | 74 | |||
Options Outstanding, Weighted Average Remaining Contractual Term (in years) | 0 years 11 months 22 days | |||
Options Outstanding, Weighted Average Exercise Price Per Share (in dollars per share) | $18.21 | |||
Options Exercisable | 74 | |||
Options Exercisable, Weighted Average Exercise Price Per Share (in dollars per share) | $15.95 | |||
Employee Stock Option [Member] | Exercise Price Range Two [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Options Outstanding | 2,945 | |||
Options Outstanding, Weighted Average Remaining Contractual Term (in years) | 1 year 4 months 28 days | |||
Options Outstanding, Weighted Average Exercise Price Per Share (in dollars per share) | $24.27 | |||
Options Exercisable | 2,944 | |||
Options Exercisable, Weighted Average Exercise Price Per Share (in dollars per share) | $20.57 | |||
Employee Stock Option [Member] | Exercise Price Range Three [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Options Outstanding | 227 | |||
Options Outstanding, Weighted Average Remaining Contractual Term (in years) | 3 years 8 months 22 days | |||
Options Outstanding, Weighted Average Exercise Price Per Share (in dollars per share) | $33.94 | |||
Options Exercisable | 154 | |||
Options Exercisable, Weighted Average Exercise Price Per Share (in dollars per share) | $30.21 | |||
Employee Stock Option [Member] | Exercise Price Range Four [Member] | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ||||
Options Outstanding | 1 | |||
Options Outstanding, Weighted Average Remaining Contractual Term (in years) | 5 years 2 months 14 days | |||
Options Outstanding, Weighted Average Exercise Price Per Share (in dollars per share) | $40.37 | |||
Options Exercisable | 1 | |||
Options Exercisable, Weighted Average Exercise Price Per Share (in dollars per share) | $40.37 |
StockBased_Compensation_Plans_7
Stock-Based Compensation Plans (Details 6) (USD $) | 12 Months Ended | |||||
In Thousands, except Per Share data, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 | |||
Summary of restricted stock unit activity and related information | ||||||
Common stock, closing price per share | $42.32 | |||||
Restricted Stock Units (RSUs) [Member] | ||||||
Summary of restricted stock unit activity and related information | ||||||
Number of Shares, Beginning balance | 6,901 | 5,996 | 5,239 | |||
Number of Shares, Granted | 3,201 | 3,297 | 3,018 | |||
Number of Shares, Vested | -2,698 | [1] | -2,066 | [1] | -1,778 | [1] |
Number of Shares, Cancelled | -531 | -326 | -483 | |||
Number of Shares, Ending balance | 6,873 | 6,901 | 5,996 | |||
Number of Shares, Expected to vest | 5,814 | |||||
Weighted-Average Grant-Date Fair Value Per Share, Beginning balance (in dollars per share) | $35.08 | $30.83 | $29.01 | |||
Weighted-Average Grant-Date Fair Value Per Share, Granted (in dollars per share) | $43.11 | $38.90 | $31.58 | |||
Weighted-Average Grant-Date Fair Value Per Share, Vested (in dollars per share) | $33.82 | [1] | $29.25 | [1] | $27.01 | [1] |
Weighted-Average Grant-Date Fair Value Per Share, Cancelled (in dollars per share) | $32.91 | $32.28 | $29.69 | |||
Weighted-Average Grant-Date Fair Value Per Share, Ending balance (in dollars per share) | $39.07 | $35.08 | $30.83 | |||
Weighted-Average Grant-Date Fair Value Per Share, Expected to vest (in dollars per share) | $39 | |||||
Weighted Average Remaining Contractual Term (in years) | 2 years 3 months 15 days | |||||
Weighted Average Remaining Contractual Term, Expected to vest (in years) | 2 years 3 months 17 days | |||||
Aggregate Intrinsic Value | $291,021 | [2] | ||||
Aggregate Intrinsic Value, Expected to vest | $246,045 | [2] | ||||
[1] | The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements. | |||||
[2] | Aggregate intrinsic value for RSUs represents the closing price per share of Xilinx’s stock on March 28, 2015 of $42.32, multiplied by the number of RSUs outstanding or expected to vest as of March 28, 2015. |
StockBased_Compensation_Plans_8
Stock-Based Compensation Plans (Details Textual) (USD $) | 12 Months Ended | |||
Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 | Mar. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Capitalized stock-based compensation, included in inventory | $2,400,000 | $2,400,000 | ||
Tax benefit associated with stock option exercises and other awards | 55,000,000 | 67,000,000 | 32,600,000 | |
Shares available for grant | 18,600,000 | |||
Percentage of fair market value of stock on the grant date | 100.00% | |||
Award vesting period | 4 years | |||
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Fair value of options vested during the period | 1,800,000 | |||
Nonvested awards, stock-based compensation cost not yet recognized | 467,000 | |||
Nonvested awards, stock-based compensation cost not yet recognized, weighted-average recognition period | 1 year 6 months 0 days | |||
Pre-tax intrinsic value of options exercised in period | 37,300,000 | 119,600,000 | ||
Employee Stock Purchase Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Weighted average fair value per share of stock options granted | $9.17 | $11.11 | $8.61 | |
Nonvested awards, stock-based compensation cost not yet recognized | 24,700,000 | |||
Nonvested awards, stock-based compensation cost not yet recognized, weighted-average recognition period | 1 year 3 months 0 days | |||
Shares available for grant | 10,500,000 | |||
Stock Purchase Plan, Exercise period | 6 months | |||
Employee Stock Purchase Plan annual earnings Maximum | 21,000 | |||
Percentage of Employee Stock Purchase Plan participation | 84.00% | |||
Percentage Of Employee Stock Purchase plan Lower Fair Market Value | 85.00% | |||
Stock offering period | 24 months | |||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 1,200,000 | 1,200,000 | 1,300,000 | |
Stock Issued During Period, Value, Employee Stock Purchase Plan | 39,000,000 | 37,900,000 | 34,500,000 | |
Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Weighted average fair value per share of RSUs and stock purchase rights granted | $43.11 | $38.90 | $31.58 | |
Nonvested awards, stock-based compensation cost not yet recognized | 180,600,000 | |||
Nonvested awards, stock-based compensation cost not yet recognized, weighted-average recognition period | 2 years 7 months 18 days | |||
Fair value of restricted stock units vested during the period | $91,200,000 | |||
2007 Equity Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Nonvested awards, stock-based compensation cost not yet recognized, weighted-average recognition period | 7 years | |||
Shares available for grant | 15,373,000 | 15,037,000 | 15,990,000 | 14,908,000 |
Prior to April 1, 2007 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Nonvested awards, stock-based compensation cost not yet recognized, weighted-average recognition period | 10 years | |||
Maximum [Member] | Employee Stock Purchase Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage Of Participation Of Employee Annual Earnings | 15.00% |
Balance_Sheet_Information_Paya
Balance Sheet Information Payables and Accruals (Details) (USD $) | Mar. 28, 2015 | Mar. 29, 2014 |
In Thousands, unless otherwise specified | ||
Payables and Accruals [Abstract] | ||
Accrued Salaries | $79,312 | $90,865 |
Deferred Compensation Liability, Current | 70,163 | 59,569 |
Other Employee Related Liabilities, Current | 7,125 | 6,939 |
Employee-related Liabilities, Current | 156,600 | 157,373 |
Interest Payable | 5,432 | 5,935 |
Forward currency exchange contracts | 9,320 | 935 |
Restructuring Reserve | 14,634 | 0 |
Other Liabilities | 35,290 | 42,386 |
Other Accrued Liabilities | $64,676 | $49,256 |
Restructuring_Charges_Details
Restructuring Charges (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 |
position | |||
Restructuring Cost and Reserve [Line Items] | |||
Impairment of Intangible Assets (Excluding Goodwill) | $6,578 | ||
Restructuring Reserve | 14,634 | 0 | |
Number of positions eliminated in restructuring | 120 | ||
Number of positions eliminated in restructuring, percent (less than) | 3.00% | ||
Restructuring charges | 24,491 | 0 | 0 |
Employee Severance [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and Related Cost, Incurred Cost | 13,531 | ||
Payments for Restructuring | -2,647 | ||
Restructuring Reserve, Settled without Cash | -579 | ||
Restructuring Reserve | 10,305 | ||
Asset impairment restructuring charges [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Payments for Restructuring | 0 | ||
Restructuring Reserve, Settled without Cash | -6,578 | ||
Restructuring Reserve | 0 | ||
Other Restructuring [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and Related Cost, Incurred Cost | 4,382 | ||
Payments for Restructuring | 0 | ||
Restructuring Reserve, Settled without Cash | -53 | ||
Restructuring Reserve | 4,329 | ||
Restructuring Cost, Total [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and Related Cost, Incurred Cost | 24,491 | ||
Payments for Restructuring | -2,647 | ||
Restructuring Reserve, Settled without Cash | -7,210 | ||
Restructuring Reserve | $14,634 |
Commitments_Details
Commitments (Details) (USD $) | Mar. 28, 2015 |
In Thousands, unless otherwise specified | |
Future Minimum Lease Payments Under Non-Cancelable Operating Leases | |
2014 | $5,418 |
2015 | 2,883 |
2016 | 2,523 |
2017 | 1,863 |
2018 | 1,391 |
Thereafter | 2,235 |
Total | $16,313 |
Commitments_Details_Textual
Commitments (Details Textual) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 |
Loss Contingencies [Line Items] | |||
Lease Expiration Date | 31-Oct-21 | ||
Aggregate future rental income to be received | $3.80 | ||
Rent expense, net of rental income | 3.2 | 3.1 | 3.9 |
Other commitments | 106.3 | ||
Non-cancelable license obligations | $35.60 | ||
Software and Maintenance License Obligations Expiration Date | 30-Jun-17 | ||
Minimum [Member] | |||
Loss Contingencies [Line Items] | |||
Purchase Commitments, Period for Payment | 3 months | ||
Maximum [Member] | |||
Loss Contingencies [Line Items] | |||
Purchase Commitments, Period for Payment | 6 months |
Net_Income_Per_Common_Share_De
Net Income Per Common Share (Details) | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 |
Debt Instrument [Line Items] | |||
Antidilutive shares excluded from computation of dilutive net income per common share | 24.3 | 5.1 | 27.9 |
Net_Income_Per_Common_Share_Ea1
Net Income Per Common Share Earnings Per Common Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Mar. 28, 2015 | Dec. 27, 2014 | Sep. 27, 2014 | Jun. 28, 2014 | Mar. 29, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 | ||||||||
Earnings Per Share [Abstract] | |||||||||||||||||||
Net income | $134,623 | [1] | $168,466 | [1] | $171,516 | [1] | $173,611 | [1] | $156,027 | [2] | $175,877 | [2] | $141,461 | [2] | $157,023 | [2] | $648,216 | $630,388 | $487,536 |
Weighted Average Number of Shares Outstanding, Basic | 260,857 | [1] | 262,881 | [1] | 265,942 | [1] | 267,648 | [1] | 268,134 | [2] | 267,780 | [2] | 268,478 | [2] | 264,153 | [2] | 265,480 | 266,431 | 261,652 |
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements | 3,257 | 4,508 | 4,146 | ||||||||||||||||
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities and Warrants | 7,386 | 8,544 | 2,924 | ||||||||||||||||
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities | 0 | 7,913 | 3,851 | ||||||||||||||||
Weighted Average Number of Shares Outstanding, Diluted | 269,514 | [1] | 273,795 | [1] | 275,800 | [1] | 281,579 | [1] | 294,536 | [2] | 288,195 | [2] | 290,685 | [2] | 280,291 | [2] | 276,123 | 287,396 | 272,573 |
Earnings Per Share, Basic | $0.52 | [1],[3] | $0.64 | [1],[3] | $0.64 | [1],[3] | $0.65 | [1],[3] | $0.58 | [2],[3] | $0.66 | [2],[3] | $0.53 | [2],[3] | $0.59 | [2],[3] | $2.44 | $2.37 | $1.86 |
Earnings Per Share, Diluted | $0.50 | [1],[3] | $0.62 | [1],[3] | $0.62 | [1],[3] | $0.62 | [1],[3] | $0.53 | [2],[3] | $0.61 | [2],[3] | $0.49 | [2],[3] | $0.56 | [2],[3] | $2.35 | $2.19 | $1.79 |
[1] | Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2015 was a 52-week year and each quarter was a 13-week quarter. | ||||||||||||||||||
[2] | Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2014 was a 52-week year and each quarter was a 13-week quarter. | ||||||||||||||||||
[3] | Net income per common share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly per common share information may not equal the annual net income per common share. |
Net_Income_Per_Common_Share_Ne
Net Income Per Common Share Net Income Per Common Share (Details 1) (2017 Convertible Notes, USD $) | 12 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Mar. 29, 2014 | Mar. 28, 2015 |
2017 Convertible Notes | ||
Short-term Debt [Line Items] | ||
Maximum number of common shares to be purchased under call option | 20.2 | |
Price Per Share To Be Purchase By Company Under Call Option | $29.64 |
Interest_and_Other_Expense_Net1
Interest and Other Expense, Net (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 |
Components of interest and other expense | |||
Interest income | $35,876 | $28,079 | $25,574 |
Interest expense | -55,431 | -54,035 | -55,069 |
Other income (expense), net | 4,553 | -3,597 | -4,231 |
Interest and other expense, net | ($15,002) | ($29,553) | ($33,726) |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Details) (USD $) | Mar. 28, 2015 | Mar. 29, 2014 |
In Thousands, unless otherwise specified | ||
Components of accumulated other comprehensive income (loss) | ||
Accumulated unrealized losses on available-for-sale securities, net of tax | ($238) | ($889) |
Accumulated unrealized gain (losses) on hedging transactions, net of tax | -7,523 | 798 |
Accumulated cumulative translation adjustment, net of tax | -3,388 | -457 |
Accumulated other comprehensive loss | ($11,149) | ($548) |
Debt_and_Credit_Facility_Detai
Debt and Credit Facility (Details) (USD $) | 12 Months Ended | ||
Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 | |
Long Term Debt [Line Items] | |||
Long-term Debt, Excluding Current Maturities | $994,839,000 | $993,870,000 | |
Amortization of Debt Discount (Premium) | 12,022,000 | 16,319,000 | 15,880,000 |
Proceeds from Issuance of Long-term Debt | 0 | 990,149,000 | 0 |
Line of Credit Facility, Expiration Date | 31-Dec-16 | ||
Line of Credit Facility, Maximum Borrowing Capacity | 250,000,000 | ||
Line of Credit Facility, Average Outstanding Amount | 0 | ||
2019 Debt instrument, Maturity Date | 15-Mar-19 | ||
2021 Debt instrument, Maturity Date | 15-Mar-21 | ||
2037 Convertible Notes | |||
Long Term Debt [Line Items] | |||
Interest Expense, Debt, Excluding Amortization | 21,551,000 | ||
Amortization of Financing Costs | 223,000 | ||
Amortization of embedded derivative | 58,000 | ||
Amortization of Debt Discount (Premium) | 4,828,000 | ||
Fair value adjustment of embedded derivative | -159,000 | ||
Interest Expense, Debt | 26,819,000 | ||
2017 Convertible Notes | |||
Long Term Debt [Line Items] | |||
Interest Expense, Debt, Excluding Amortization | 15,750,000 | ||
Amortization of Financing Costs | 1,448,000 | ||
Amortization of Debt Discount (Premium) | 11,052,000 | ||
Interest Expense, Debt | 28,250,000 | ||
2019 and 2021 Notes Payable [Member] | |||
Long Term Debt [Line Items] | |||
Interest Expense, Debt, Excluding Amortization | 25,625,000 | 1,210,000 | 0 |
Amortization of Financing Costs | 586,000 | 52,000 | 0 |
Amortization of Debt Discount (Premium) | 970,000 | 80,000 | 0 |
Interest Expense, Debt | 27,181,000 | 1,342,000 | 0 |
2019 Notes Payable [Member] | |||
Long Term Debt [Line Items] | |||
Discount Percent Of Par | 99.48% | ||
Debt Instrument, Face Amount | 500,000,000 | 500,000,000 | |
Debt Instrument, Unamortized Discount | 2,073,000 | 2,574,000 | |
2021 Notes Payable [Member] | |||
Long Term Debt [Line Items] | |||
Discount Percent Of Par | 99.28% | ||
Debt Instrument, Face Amount | 500,000,000 | 500,000,000 | |
Debt Instrument, Unamortized Discount | $3,088,000 | $3,556,000 |
Debt_and_Credit_Facility_Detai1
Debt and Credit Facility (Details 1) (USD $) | 3 Months Ended | 12 Months Ended | |||
Share data in Millions, except Per Share data, unless otherwise specified | Mar. 29, 2014 | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 | Mar. 12, 2014 |
Short-term Debt [Line Items] | |||||
Amortization of Debt Discount (Premium) | $12,022,000 | $16,319,000 | $15,880,000 | ||
Gains (Losses) on Extinguishment of Debt | -9,848,000 | 0 | -9,848,000 | 0 | |
2037 Convertible Notes | |||||
Short-term Debt [Line Items] | |||||
Debt Instrument Unamortized Discount Of Embedded Derivative From Date Of Issuance | 1,300,000 | ||||
Extinguishment of Debt, Amount | 1,230,000,000 | ||||
Debt Instrument, Face Amount | 689,600,000 | ||||
Amortization of Financing Costs | 0 | 223,000 | |||
Debt Instrument, Unamortized Discount | 315,400,000 | ||||
Unamortized Debt Issuance Expense | 5,100,000 | ||||
Amortization of embedded derivative | 0 | 58,000 | |||
Amortization of Debt Discount (Premium) | 0 | 5,187,000 | |||
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net | 0 | 1,090,000 | |||
Debt Instrument Carrying Amount Of Liability Component | 377,600,000 | ||||
Debt Instrument, Convertible, Carrying Amount of Equity Component | 856,500,000 | ||||
Gains (Losses) on Extinguishment of Debt | -9,800,000 | ||||
Interest Expense, Debt, Excluding Amortization | 0 | 20,065,000 | |||
Interest Expense, Debt | 0 | 24,443,000 | |||
2017 Convertible Notes | |||||
Short-term Debt [Line Items] | |||||
Base conversion, block amount of senior convertible debenture | 1,000 | ||||
Debt Instrument, Convertible, Conversion Ratio | 33.7391 | ||||
Convertible debt, conversion price | $29.64 | ||||
Debt Instrument, Convertible, Remaining Discount Amortization Period | 2 years 2 months 19 days | ||||
Debt instrument, Convertible, If-converted Value | 831,600,000 | ||||
Price Per Share To Be Purchase By Company Under Call Option | $29.64 | ||||
Warrants, number of shares the holders have the right to purchase | 20.2 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $41.99 | ||||
Maximum number of common shares to be purchased under call option | 20.2 | ||||
Debt Instrument, Face Amount | 600,000,000 | 600,000,000 | 600,000,000 | ||
Amortization of Financing Costs | 1,448,000 | 1,448,000 | |||
Debt Instrument, Unamortized Discount | 49,223,000 | 33,679,000 | 49,223,000 | ||
Amortization of Debt Discount (Premium) | 11,052,000 | 11,052,000 | |||
Debt Instrument Carrying Amount Of Liability Component | 565,001,000 | 576,053,000 | 565,001,000 | ||
Hedge Accounting Adjustment - Sale Of Interest Rate Swap | 14,224,000 | 9,732,000 | 14,224,000 | ||
Debt Instrument, Convertible, Carrying Amount of Equity Component | 66,415,000 | 66,415,000 | 66,415,000 | ||
Interest Expense, Debt, Excluding Amortization | 15,750,000 | 15,750,000 | |||
Interest Expense, Debt | $28,250,000 | $28,250,000 |
Stockholders_Equity_Details
Stockholders' Equity (Details) (USD $) | 12 Months Ended | ||||
Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 | Aug. 13, 2012 | Nov. 17, 2014 | |
Share Repurchases [Line Items] | |||||
Preferred stock, shares authorized | 2,000,000 | 2,000,000 | |||
Preferred stock, shares issued | 0 | 0 | |||
Preferred stock, shares outstanding | 0 | 0 | |||
Treasury shares | 0 | 0 | |||
Stock Repurchased During Period, Shares | 15,300,000 | 5,200,000 | |||
Stock Repurchased and Retired During Period, Value | $649,990,000 | $242,094,000 | $197,689,000 | ||
Repurchase Program 2012 [Member] | |||||
Share Repurchases [Line Items] | |||||
Amount authorized for common stock repurchase | 750,000,000 | ||||
Total amount available for future repurchases | 0 | ||||
Repurchase Program Two Thousand Fourteen [Member] | |||||
Share Repurchases [Line Items] | |||||
Amount authorized for common stock repurchase | 800,000,000 | ||||
Total amount available for future repurchases | 647,400,000 | ||||
Repurchases of Common Stock | $152,600,000 |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 |
Federal: | |||
Current | $61,308 | $16,692 | $97,108 |
Deferred | 17,121 | 48,021 | -45,465 |
Federal income tax expense (benefit), Total | 78,429 | 64,713 | 51,643 |
State: | |||
Current | 3,330 | 1,333 | 1,007 |
Deferred | 1,803 | 5,954 | 1,742 |
State income tax expense (benefit), Total | 5,133 | 7,287 | 2,749 |
Foreign: | |||
Current | 9,433 | 7,264 | 5,455 |
Deferred | -1,135 | -126 | -377 |
Foreign income tax expense (benefit), Total | 8,298 | 7,138 | 5,078 |
Total | $91,860 | $79,138 | $59,470 |
Income_Taxes_Details_1
Income Taxes (Details 1) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, unless otherwise specified | Mar. 28, 2015 | Dec. 27, 2014 | Sep. 27, 2014 | Jun. 28, 2014 | Mar. 29, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 | ||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||
Domestic | $110,881 | $83,617 | $45,617 | ||||||||||||||||
Foreign | 629,195 | 625,909 | 501,389 | ||||||||||||||||
Income before income taxes | $159,478 | [1],[2] | $186,002 | [1],[2] | $194,318 | [1],[2] | $200,278 | [1],[2] | $175,850 | [3],[4] | $197,932 | [3],[4] | $152,765 | [3],[4] | $182,979 | [3],[4] | $740,076 | $709,526 | $547,006 |
[1] | Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2015 was a 52-week year and each quarter was a 13-week quarter. | ||||||||||||||||||
[2] | Income before income taxes for the fourth quarter of fiscal 2015 included restructuring charges of $24,491. | ||||||||||||||||||
[3] | Income before income taxes for the second quarter of fiscal 2014 included litigation and contingencies charge of $28,600, for the third quarter of fiscal 2014 included reversal of litigation and contingencies charge of $19,190 and for the fourth quarter of fiscal 2014 included loss on extinguishment of convertible debentures of $9,848. | ||||||||||||||||||
[4] | Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2014 was a 52-week year and each quarter was a 13-week quarter. |
Income_Taxes_Details_2
Income Taxes (Details 2) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, unless otherwise specified | Mar. 28, 2015 | Dec. 27, 2014 | Sep. 27, 2014 | Jun. 28, 2014 | Mar. 29, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 | ||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||
Income before provision for taxes | $159,478 | [1],[2] | $186,002 | [1],[2] | $194,318 | [1],[2] | $200,278 | [1],[2] | $175,850 | [3],[4] | $197,932 | [3],[4] | $152,765 | [3],[4] | $182,979 | [3],[4] | $740,076 | $709,526 | $547,006 |
Federal statutory tax rate | 35.00% | 35.00% | 35.00% | ||||||||||||||||
Computed expected tax | 259,027 | 248,334 | 191,452 | ||||||||||||||||
State taxes, net of federal benefit | 2,458 | 4,664 | 1,787 | ||||||||||||||||
Foreign earnings at lower tax rates | -141,372 | -143,336 | -107,730 | ||||||||||||||||
Tax credits | -26,633 | -23,389 | -26,305 | ||||||||||||||||
Other | -1,620 | -7,135 | 266 | ||||||||||||||||
Total | $91,860 | $79,138 | $59,470 | ||||||||||||||||
[1] | Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2015 was a 52-week year and each quarter was a 13-week quarter. | ||||||||||||||||||
[2] | Income before income taxes for the fourth quarter of fiscal 2015 included restructuring charges of $24,491. | ||||||||||||||||||
[3] | Income before income taxes for the second quarter of fiscal 2014 included litigation and contingencies charge of $28,600, for the third quarter of fiscal 2014 included reversal of litigation and contingencies charge of $19,190 and for the fourth quarter of fiscal 2014 included loss on extinguishment of convertible debentures of $9,848. | ||||||||||||||||||
[4] | Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2014 was a 52-week year and each quarter was a 13-week quarter. |
Income_Taxes_Details_3
Income Taxes (Details 3) (USD $) | Mar. 28, 2015 | Mar. 29, 2014 |
In Thousands, unless otherwise specified | ||
Deferred tax assets: | ||
Stock-based compensation | $18,233 | $21,142 |
Deferred income on shipments to distributors | 9,207 | 8,097 |
Accrued expenses | 28,318 | 26,864 |
Tax credit carryforwards | 86,650 | 79,272 |
Deferred compensation plan | 26,079 | 22,280 |
Deferred Tax Assets, Investments | 10,247 | 6,735 |
Other | 10,706 | 6,685 |
Deferred tax assets, gross | 189,440 | 171,075 |
Valuation allowance | -52,552 | -43,004 |
Total deferred tax assets | 136,888 | 128,071 |
Deferred tax liabilities: | ||
Unremitted foreign earnings | -280,322 | -253,231 |
Convertible debt | -3,220 | -4,670 |
Other | -3,987 | -5,493 |
Deferred Tax Liabilities, Gross | -287,529 | -263,394 |
Deferred Tax Liabilities, Net | ($150,641) | ($135,323) |
Income_Taxes_Details_4
Income Taxes (Details 4) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Balance as of beginning of fiscal year | $26,398 | $69,957 |
Increases in tax positions for prior years | 97 | 163 |
Decreases in tax positions for prior years | -37 | -35,615 |
Increases in tax positions for current year | 4,822 | 3,687 |
Settlements | 0 | -6,030 |
Lapse in statute of limitations | -1,191 | -5,764 |
Balance as of end of fiscal year | $30,089 | $26,398 |
Income_Taxes_Details_Textual
Income Taxes (Details Textual) (USD $) | 12 Months Ended | ||||
Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 | Mar. 30, 2014 | Mar. 31, 2013 | |
Income Taxes (Textual) [Abstract] | |||||
Gross unrecognized tax benefits balance | $30,089,000 | $26,398,000 | $26,398,000 | $69,957,000 | |
Unrecognized tax benefits that would impact effective tax rate | 12,500,000 | 11,000,000 | |||
Tax benefit (expense) associated with stock option exercises and employee stock purchase plan | 55,000,000 | 67,000,000 | 32,600,000 | ||
Net operating loss carryforwards | 16,500,000 | ||||
Net operating loss carryforwards, Expiration dates | 31-Dec-30 | ||||
Tax credit carryforwards | 152,400,000 | ||||
Hypothetical US tax liability if unremitted foreign earnings were remitted | 938,700,000 | ||||
Long-term deferred tax assets | 59,700,000 | 61,900,000 | |||
Deferred tax assets, valuation allowance | 52,552,000 | 43,004,000 | |||
Permanently Invested Outside U.S. [Abstract] | |||||
Unremitted foreign earnings | 2,800,000,000 | ||||
State [Member] | |||||
Income Taxes (Textual) [Abstract] | |||||
Net operating loss carryforwards, valuation allowance | 80,800,000 | ||||
Singapore [Member] | |||||
Income Taxes (Textual) [Abstract] | |||||
Statutory tax rate prior to income tax holiday | 17.00% | ||||
Effective tax rate following income tax holiday | 0.00% | ||||
Benefit from income tax holiday | 66,000,000 | 60,300,000 | 41,000,000 | ||
Benefit from income tax holiday, per share (in dollars per share) | $0.24 | $0.21 | $0.15 | ||
Additional Paid-in Capital [Member] | |||||
Income Taxes (Textual) [Abstract] | |||||
Tax benefit (expense) associated with stock option exercises and employee stock purchase plan | $13,900,000 | $26,400,000 | $9,000,000 |
Segment_Information_Details
Segment Information (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 |
Segment Reporting Information [Line Items] | |||
Net revenues | $2,377,344 | $2,382,531 | $2,168,652 |
Net long-lived assets | 301,038 | 355,089 | 365,687 |
North America [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 738,334 | 707,692 | 655,560 |
United States [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 625,434 | 610,276 | 558,309 |
Net long-lived assets | 195,353 | 237,229 | 240,429 |
North America, Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 112,900 | 97,416 | 97,251 |
Foreign Country [Member] | |||
Segment Reporting Information [Line Items] | |||
Net long-lived assets | 105,685 | 117,860 | 125,258 |
China [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 573,007 | 564,814 | 428,892 |
Asia Pacific, Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 357,598 | 375,013 | 324,920 |
Ireland [Member] | |||
Segment Reporting Information [Line Items] | |||
Net long-lived assets | 46,216 | 48,043 | 50,627 |
Singapore [Member] | |||
Segment Reporting Information [Line Items] | |||
Net long-lived assets | 43,020 | 51,569 | 56,481 |
Asia Pacific [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 930,605 | 939,827 | 753,812 |
Europe [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 477,102 | 519,829 | 548,375 |
Japan [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 231,303 | 215,183 | 210,905 |
Foreign, Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Net long-lived assets | $16,449 | $18,248 | $18,150 |
Litigation_Settlements_and_Con1
Litigation Settlements and Contingencies (Details) | 12 Months Ended |
Mar. 28, 2015 | |
Contingencies (Textual) [Abstract] | |
Loss contingency, damages sought for each unspecified claim | 11000 |
Goodwill_and_AcquisitionRelate2
Goodwill and Acquisition-Related Intangibles (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 |
Gross and net amounts of goodwill and of acquisition-related intangibles | ||
Goodwill | $159,296 | $159,296 |
Total acquisition-related intangibles, gross | 124,246 | 138,576 |
Less accumulated amortization | -111,494 | -109,709 |
Total | 12,752 | 28,867 |
Core Technology [Member] | ||
Gross and net amounts of goodwill and of acquisition-related intangibles | ||
Total acquisition-related intangibles, gross | 77,640 | 91,860 |
Less accumulated amortization | -64,988 | -63,267 |
Total | 12,652 | 28,593 |
Weighted-Average Amortization Life | 5 years 7 months 0 days | |
Other Intangibles [Member] | ||
Gross and net amounts of goodwill and of acquisition-related intangibles | ||
Total acquisition-related intangibles, gross | 46,606 | 46,716 |
Less accumulated amortization | -46,506 | -46,442 |
Total | $100 | $274 |
Weighted-Average Amortization Life | 2 years 8 months 12 days |
Goodwill_and_AcquisitionRelate3
Goodwill and Acquisition-Related Intangibles (Details 1) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Impairment of Intangible Assets (Excluding Goodwill) | $6,578 | ||
Amortization of acquisition-related intangibles | 9,537 | 9,887 | 9,508 |
Schedule of expected annual amortization expense for acquisition-related intangibles | |||
2015 | 6,550 | ||
2016 | 4,761 | ||
2017 | 1,374 | ||
2018 | 67 | ||
2019 | 0 | ||
Total | $12,752 | $28,867 |
Employee_Benefit_Plans_Details
Employee Benefit Plans (Details) (USD $) | 12 Months Ended | ||
Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 | |
participant | |||
Postemployment Benefits [Abstract] | |||
Total contribution to the employee benefit plans | $13,000,000 | $13,200,000 | $12,200,000 |
Employer matching contribution limit, as a percentage of employee contribution | 50.00% | ||
First part of employee compensation that the employee contributed to their 401(k) accounts | 8.00% | ||
The maximum company contribution per employee | 4,500 | ||
Participants' age limit eligible to make catch up salary deferral contribution | 50 years | ||
Percentage of salary deferrals of the eligible annual salary | 25.00% | ||
Number of participants in the plan who self direct their contribution into investment option (more than) | 155 | ||
Employee benefit plan assets | 59,200,000 | 50,600,000 | |
Employee benefit plan obligations | $70,200,000 | $59,600,000 |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts (Allowances) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Mar. 28, 2015 | Dec. 27, 2014 | Sep. 27, 2014 | Jun. 28, 2014 | Mar. 29, 2014 | Dec. 28, 2013 | Sep. 28, 2013 | Jun. 29, 2013 | Mar. 28, 2015 | Mar. 29, 2014 | Mar. 30, 2013 | ||||||||
Supplementary Financial Data [Abstract] | |||||||||||||||||||
Net revenues | $566,900 | [1] | $593,549 | [1] | $604,262 | [1] | $612,633 | [1] | $617,823 | [2] | $586,816 | [2] | $598,937 | [2] | $578,955 | [2] | $2,377,344 | $2,382,531 | $2,168,652 |
Gross margin | 396,521 | [1] | 413,911 | [1] | 434,645 | [1] | 423,444 | [1] | 417,878 | [2] | 406,024 | [2] | 416,121 | [2] | 399,255 | [2] | 1,668,521 | 1,639,278 | 1,431,446 |
Net income | 134,623 | [1] | 168,466 | [1] | 171,516 | [1] | 173,611 | [1] | 156,027 | [2] | 175,877 | [2] | 141,461 | [2] | 157,023 | [2] | 648,216 | 630,388 | 487,536 |
Net income per common share: | |||||||||||||||||||
Earnings Per Share, Basic | $0.52 | [1],[3] | $0.64 | [1],[3] | $0.64 | [1],[3] | $0.65 | [1],[3] | $0.58 | [2],[3] | $0.66 | [2],[3] | $0.53 | [2],[3] | $0.59 | [2],[3] | $2.44 | $2.37 | $1.86 |
Earnings Per Share, Diluted | $0.50 | [1],[3] | $0.62 | [1],[3] | $0.62 | [1],[3] | $0.62 | [1],[3] | $0.53 | [2],[3] | $0.61 | [2],[3] | $0.49 | [2],[3] | $0.56 | [2],[3] | $2.35 | $2.19 | $1.79 |
Shares used in per share calculations: | |||||||||||||||||||
Weighted Average Number of Shares Outstanding, Basic | 260,857 | [1] | 262,881 | [1] | 265,942 | [1] | 267,648 | [1] | 268,134 | [2] | 267,780 | [2] | 268,478 | [2] | 264,153 | [2] | 265,480 | 266,431 | 261,652 |
Weighted Average Number of Shares Outstanding, Diluted | 269,514 | [1] | 273,795 | [1] | 275,800 | [1] | 281,579 | [1] | 294,536 | [2] | 288,195 | [2] | 290,685 | [2] | 280,291 | [2] | 276,123 | 287,396 | 272,573 |
Cash dividends per common share (in dollars per share) | $0.29 | [1] | $0.29 | [1] | $0.29 | [1] | $0.29 | [1] | $0.25 | [2] | $0.25 | [2] | $0.25 | [2] | $0.25 | [2] | |||
Restructuring charges | 24,491 | 0 | 0 | ||||||||||||||||
Litigation charges | 28,600 | 19,190 | 0 | 9,410 | 0 | ||||||||||||||
Gains (Losses) on Extinguishment of Debt | 9,848 | 0 | 9,848 | 0 | |||||||||||||||
Allowance for Doubtful Accounts [Member] | |||||||||||||||||||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||||||||||||||||||
Valuation Allowances and Reserves, Beginning of Year | 3,355 | 3,425 | 3,355 | 3,425 | 3,446 | ||||||||||||||
Valuation Allowances And Reserves Additions | 0 | 2 | 0 | ||||||||||||||||
Valuation Allowances and Reserves, Deductions | 2 | 72 | 21 | ||||||||||||||||
Valuation Allowances and Reserves, End of Year | 3,353 | 3,355 | 3,353 | 3,355 | 3,425 | ||||||||||||||
Allowance for Deferred Tax Assets [Member] | |||||||||||||||||||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||||||||||||||||||
Valuation Allowances and Reserves, Beginning of Year | 43,004 | 26,401 | 43,004 | 26,401 | 18,826 | ||||||||||||||
Valuation Allowances And Reserves Additions | 10,623 | 19,771 | 7,575 | ||||||||||||||||
Valuation Allowances and Reserves, Deductions | 1,075 | 3,168 | 0 | ||||||||||||||||
Valuation Allowances and Reserves, End of Year | $52,552 | $43,004 | $52,552 | $43,004 | $26,401 | ||||||||||||||
[1] | Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2015 was a 52-week year and each quarter was a 13-week quarter. | ||||||||||||||||||
[2] | Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2014 was a 52-week year and each quarter was a 13-week quarter. | ||||||||||||||||||
[3] | Net income per common share is computed independently for each of the quarters presented. Therefore, the sum of the quarterly per common share information may not equal the annual net income per common share. |