Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 27, 2018 | Sep. 30, 2017 | |
Document and Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Mar. 31, 2018 | ||
Document Fiscal Year Focus | 2,018 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | XILINX INC | ||
Entity Central Index Key | 743,988 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Current Fiscal Year End Date | --03-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 253,404,000 | ||
Common Stock, par value (in dollars per share) | $ 0.01 | ||
Entity Public Float | $ 12,264,427,000 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Income Statement [Abstract] | |||
Net revenues | $ 2,539,004 | $ 2,349,330 | $ 2,213,881 |
Cost of revenues | 756,368 | 708,216 | 671,907 |
Gross margin | 1,782,636 | 1,641,114 | 1,541,974 |
Operating expenses: | |||
Research and development | 639,750 | 601,443 | 533,891 |
Selling, general and administrative | 362,329 | 335,150 | 331,652 |
Amortization of acquisition-related intangibles | 2,152 | 5,127 | 6,550 |
Executive transition costs | 33,351 | 0 | 0 |
Total operating expenses | 1,037,582 | 941,720 | 872,093 |
Operating income | 745,054 | 699,394 | 669,881 |
Interest and other income (expense), net | 5,357 | (8,314) | (33,056) |
Income before income taxes | 750,411 | 691,080 | 636,825 |
Provision for income taxes | 238,030 | 68,568 | 85,958 |
Net income | $ 512,381 | $ 622,512 | $ 550,867 |
Net income per common share: | |||
Basic (in dollars per share) | $ 2.05 | $ 2.47 | $ 2.14 |
Diluted (in dollars per share) | $ 1.99 | $ 2.32 | $ 2.05 |
Shares used in per share calculations: | |||
Basic (in shares) | 249,595 | 252,301 | 257,184 |
Diluted (in shares) | 257,960 | 268,813 | 268,667 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Statement of Comprehensive Income [Abstract] | |||
Net income | $ 512,381 | $ 622,512 | $ 550,867 |
Other comprehensive income (loss), net of tax: | |||
Net change in unrealized losses on available-for-sale securities | (8,211) | (12,712) | (916) |
Reclassification adjustment for (gains) losses on available-for-sale securities | 349 | (3,119) | (106) |
Net change in unrealized gains (losses) on hedging transactions | 5,517 | (1,296) | 15,004 |
Reclassification adjustment for (gains) losses on hedging transactions | (4,655) | 1,701 | (7,225) |
Cumulative translation adjustment, net | 2,375 | (2,624) | (2,239) |
Other comprehensive income (loss) | (4,625) | (18,050) | 4,518 |
Total comprehensive income | $ 507,756 | $ 604,462 | $ 555,385 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2018 | Apr. 01, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 2,179,328 | $ 966,695 |
Short-term investments | 1,268,242 | 2,354,762 |
Accounts receivable, net of allowances for doubtful accounts of $3,170 and $3,200 in 2018 and 2017, respectively | 372,144 | 243,915 |
Inventories | 236,077 | 227,033 |
Prepaid expenses and other current assets | 88,695 | 87,711 |
Total current assets | 4,144,486 | 3,880,116 |
Property, plant and equipment, at cost: | ||
Land | 65,298 | 65,298 |
Buildings | 343,373 | 339,923 |
Machinery and equipment | 395,318 | 383,681 |
Furniture and fixtures | 51,034 | 50,556 |
Gross property, plant and equipment | 855,023 | 839,458 |
Accumulated depreciation and amortization | (550,906) | (535,633) |
Net property, plant and equipment | 304,117 | 303,825 |
Long-term investments | 97,896 | 116,288 |
Goodwill | 162,421 | 161,287 |
Acquisition-related intangibles, net | 4,123 | 3,576 |
Other assets | 342,644 | 275,440 |
Total Assets | 5,055,687 | 4,740,532 |
Current liabilities: | ||
Accounts payable | 98,999 | 108,293 |
Accrued payroll and related liabilities | 206,367 | 176,601 |
Income taxes payable | 47,713 | 6,309 |
Deferred income on shipments to distributors | 25,166 | 54,567 |
Other accrued liabilities | 59,772 | 95,098 |
Current portion of long-term debt | 499,186 | 456,328 |
Total current liabilities | 937,203 | 897,196 |
Long-term debt | 1,214,440 | 995,247 |
Deferred tax liabilities | 75 | 317,639 |
Long-term income taxes payable | 523,864 | 4,503 |
Other long-term liabilities | 49,870 | 16,908 |
Commitments and contingencies (Note 8 and Note 16) | ||
Temporary Equity, Carrying Amount, Attributable to Parent | 0 | 1,406 |
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; 253,377 and 248,027 shares issued and outstanding in 2018 and 2017, respectively | 2,534 | 2,480 |
Additional paid-in capital | 878,672 | 803,522 |
Retained earnings | 1,483,538 | 1,726,312 |
Accumulated other comprehensive loss | (34,509) | (24,681) |
Total stockholders’ equity | 2,330,235 | 2,507,633 |
Total Liabilities, Temporary Equity and Stockholders’ Equity | $ 5,055,687 | $ 4,740,532 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2018 | Apr. 01, 2017 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $ 3,170 | $ 3,200 |
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 | 253,377,000 | 248,027,000 |
Common stock, shares outstanding | 253,377,000 | 248,027,000 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Cash flows from operating activities: | |||
Net income | $ 512,381 | $ 622,512 | $ 550,867 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation | 46,438 | 45,423 | 50,828 |
Amortization | 50,316 | 17,203 | 17,613 |
Stock-based compensation | 153,815 | 122,858 | 111,984 |
Net (gain) loss on sale of available-for-sale securities | 689 | (3,532) | (370) |
Amortization of debt discount on convertible debentures | 2,548 | 11,692 | 12,048 |
Provision for deferred income taxes | (353,292) | 67,482 | 44,128 |
Others | 7,500 | 1,698 | 2,000 |
Changes in assets and liabilities: | |||
Accounts receivable, net | (128,229) | 63,543 | (60,843) |
Inventories | (9,176) | (48,244) | 52,323 |
Prepaid expenses and other current assets | (9,727) | (1,000) | (1,261) |
Other assets | (22,243) | (20,557) | (11,945) |
Accounts payable | (16,691) | 10,983 | 21,422 |
Accrued liabilities (including executive transition costs) | 48,926 | 33,788 | (16,592) |
Income taxes payable | 566,173 | 7,473 | (11,635) |
Deferred income on shipments to distributors | (29,401) | 2,809 | (14,312) |
Net cash provided by operating activities | 820,027 | 934,131 | 746,255 |
Cash flows from investing activities: | |||
Purchases of available-for-sale securities | (2,332,140) | (2,817,197) | (3,262,324) |
Proceeds from Sale of Available-for-sale Securities | 1,161,410 | 695,030 | 268,887 |
Proceeds from maturity of available-for-sale securities | 2,194,828 | 2,709,547 | 2,613,455 |
Purchases of property, plant and equipment and other intangibles | (49,918) | (72,051) | (34,004) |
Other investing activities | (25,937) | (21,379) | (9,950) |
Net cash provided by (used in) investing activities | 948,243 | 493,950 | (423,936) |
Cash flows from financing activities: | |||
Repurchases of common stock | (474,254) | (522,045) | (443,181) |
Taxes paid related to net share settlement of restricted stock units | (60,391) | (35,392) | (34,671) |
Proceeds from issuance of common stock through various stock plans | 47,454 | 68,184 | 85,765 |
Payment of dividends to stockholders | (353,053) | (332,542) | (318,988) |
Repayment of convertible debt | (457,918) | (142,082) | 0 |
Proceeds from issuance of long-term debts | 745,175 | 0 | 0 |
Other financing activities | (2,650) | (1,325) | 0 |
Net cash used in financing activities | (555,637) | (965,202) | (711,075) |
Net increase (decrease) in cash and cash equivalents | 1,212,633 | 462,879 | (388,756) |
Cash and cash equivalents at beginning of period | 966,695 | 503,816 | 892,572 |
Cash and cash equivalents at end of period | 2,179,328 | 966,695 | 503,816 |
Supplemental disclosure of cash flow information: | |||
Interest paid | 50,928 | 41,375 | 41,375 |
Income taxes paid (refunded), net | 25,343 | (6,341) | 53,425 |
Unsettled investment receivables | 16,461 | 21,558 | 10,242 |
Unsettled investment payables | $ 5,860 | $ 62,199 | $ 25,572 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Common stock, shares outstanding, beginning balance at Mar. 28, 2015 | 258,340 | ||||
Total stockholders' equity, beginning balance at Mar. 28, 2015 | $ 2,611,594 | $ 2,583 | $ 653,882 | $ 1,966,278 | $ (11,149) |
Components of comprehensive income: | |||||
Net income | 550,867 | 550,867 | |||
Other comprehensive income (loss) | 4,518 | 4,518 | |||
Issuance of common shares under employee stock plans, net (in shares) | 5,043 | ||||
Issuance of common shares under employee stock plans, net | 51,094 | $ 51 | 51,043 | ||
Repurchase and retirement of common stock (in shares) | (9,696) | ||||
Repurchase and retirement of common stock | (443,181) | $ (97) | (111,993) | (331,091) | |
Stock-based compensation expense | 111,984 | 111,984 | |||
Stock-based compensation capitalized in inventory | (455) | (455) | |||
Temporary equity reclassification | 11,052 | 11,052 | |||
Cash dividends declared | (318,988) | (318,988) | |||
Net excess tax benefits from stock-based compensation | 11,408 | 11,408 | |||
Common stock, shares outstanding, ending balance at Apr. 02, 2016 | 253,687 | ||||
Total stockholders' equity, ending balance at Apr. 02, 2016 | 2,589,893 | $ 2,537 | 726,921 | 1,867,066 | (6,631) |
Components of comprehensive income: | |||||
Net income | 622,512 | 622,512 | |||
Other comprehensive income (loss) | (18,050) | (18,050) | |||
Issuance of common shares under employee stock plans, net (in shares) | 4,195 | ||||
Issuance of common shares under employee stock plans, net | $ 32,793 | $ 42 | 32,751 | ||
Repurchase and retirement of common stock (in shares) | (9,900) | (9,855) | |||
Repurchase and retirement of common stock | $ (522,046) | $ (99) | (91,223) | (430,724) | |
Stock-based compensation expense | 122,858 | 122,858 | |||
Stock-based compensation capitalized in inventory | 239 | 239 | |||
Temporary equity reclassification | 11,488 | 11,488 | |||
Convertible debt conversion | 488 | 488 | |||
Cash dividends declared | $ (332,542) | (332,542) | |||
Common stock, shares outstanding, ending balance at Apr. 01, 2017 | 248,027 | 248,027 | |||
Total stockholders' equity, ending balance at Apr. 01, 2017 | $ 2,507,633 | $ 2,480 | 803,522 | 1,726,312 | (24,681) |
Components of comprehensive income: | |||||
Net income | 512,381 | 512,381 | |||
Other comprehensive income (loss) | (4,625) | (4,625) | |||
Issuance of common shares under employee stock plans, net (in shares) | 3,133 | ||||
Issuance of common shares under employee stock plans, net | $ (12,937) | $ 32 | (12,969) | ||
Repurchase and retirement of common stock (in shares) | (7,000) | (6,957) | |||
Repurchase and retirement of common stock | $ (474,254) | $ (70) | (66,879) | (407,305) | |
Stock-based compensation expense | 153,815 | 153,815 | |||
Stock-based compensation capitalized in inventory | (131) | (131) | |||
Temporary equity reclassification | 1,406 | 1,406 | |||
Exercise of warrants (in shares) | 9,174 | ||||
Exercise of warrants | 0 | $ 92 | (92) | ||
Cash dividends declared | $ (353,053) | (353,053) | |||
Common stock, shares outstanding, ending balance at Mar. 31, 2018 | 253,377 | 253,377 | |||
Total stockholders' equity, ending balance at Mar. 31, 2018 | $ 2,330,235 | $ 2,534 | $ 878,672 | 1,483,538 | (34,509) |
Components of comprehensive income: | |||||
Reclassification of stranded tax effects | $ 0 | $ 5,203 | $ (5,203) |
Consolidated Statements of Sto8
Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Retained Earnings [Member] | |||
Cash dividends per share (in dollars per share) | $ 1.40 | $ 1.32 | $ 1.24 |
Nature of Operations
Nature of Operations | 12 Months Ended |
Mar. 31, 2018 | |
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 Accounti
Summary of Significant Accounting Policies and Concentrations of Risk | 12 Months Ended |
Mar. 31, 2018 | |
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 2018 and 2017 were a 52-week year ended on March 31, 2018 and April 1, 2017 , respectively. Fiscal 2016 was a 53-week year, ended on April 2, 2016. Fiscal 2019 will be a 52-week year ending on March 30, 2019 . 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 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 money market funds, non-financial institution securities, U.S. and foreign government and agency securities and financial institution securities. Short-term investments consist of mortgage-backed securities, non-financial institution securities, U.S. and foreign government and agency securities, financial institution securities, asset-back securities, commercial mortgage-backed securities, bank loans and debt mutual funds 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, debt mutual funds and asset-backed securities 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. 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, U.S. and foreign government and agency securities, asset-backed securities, mortgage-backed securities, commercial mortgage-backed securities, bank time deposits, bank loans 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, commercial mortgage-backed securities, bank loans, debt mutual funds 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 31, 2018 or April 1, 2017 . 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 and declines in value judged to be other than temporary are included in interest and other expense, net. 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 interest and other expense, net, 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) March 31, 2018 April 1, 2017 Raw materials $ 14,674 $ 14,517 Work-in-process 167,039 161,120 Finished goods 54,364 51,396 $ 236,077 $ 227,033 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 $46.4 million , $45.4 million and $50.8 million for fiscal 2018 , 2017 and 2016 , respectively. Impairment of Long-Lived Assets The Company evaluates the carrying value of long-lived 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 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 2018 , there was no impairment of goodwill in fiscal 2018 . 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 2019 . 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 2018 , approximately 53% 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 31, 2018 , the Company had $31.8 million of deferred revenue and $6.6 million of deferred cost of revenues recognized as a net $25.2 million of deferred income on shipments to distributors. As of April 1, 2017 , the Company had $74.2 million of deferred revenue and $19.6 million of deferred cost of revenues recognized as a net $54.6 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 software licenses and support services sales were 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. 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 interest rate, 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 or vested) 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). Additionally, the Company's ESPP is deemed to be 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 Financial Accounting Standards Board (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 2018 and 2017 , 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, one of the Company's distributors, distributes the Company's products worldwide. As of March 31, 2018 and April 1, 2017 , Avnet accounted for 60% and 59% of the Company's total net accounts receivable, respectively. Resale of product through Avnet accounted for 43% , 44% and 50% of the Company's worldwide net revenues in fiscal 2018 , 2017 and 2016 , 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 and 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 91% of its portfolio in AA (or its equivalent) or higher grade securities as rated by Standard & Poor's or Moody's Investors Service equivalent. 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 31, 2018 , approximately 24% 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 Adopted On February 14, 2018, the FASB issued final guidance that gives entities the option to reclassify to retained earnings tax effects related to items in accumulated other comprehensive income (OCI) that were stranded in accumulated OCI as a result of the TCJA. The stranded tax effects result from the change in the federal tax rate for deferred taxes recorded in accumulated OCI. Upon adoption, the standard requires all entities to make new disclosures, regardless of whether they elect to reclassify stranded amounts. The new guidance may be applied retrospectively to each period in which the effect of the TCJA is recognized or in the period of adoption. The guidance is effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted. The Company decided to early adopt it in the fourth quarter of fiscal 2018. As a result, the stranded tax effects in accumulated OCI of $5.2 million , primarily related to unrealized losses on available-for-sale securities, were reclassified to retained earnings. Recent Accounting Pronouncements Not Yet Adopted Revenue Recognition In April 2014, the FASB issued the authoritative guidance, as amended, that outlines a new global revenue recognition standard that replaces virtually all existing U.S. GAAP guidance on contracts with customers and the related other assets and deferred costs. The authoritative 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 new guidance 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. The new guidance is required to be applied retrospectively to each prior reporting period presented (Full Retrospective), or retrospectively with the cumulative effect of initially applying it recognized at the date of initial application. The Company will adopt the new guidance beginning in its fiscal 2019, using the Full Retrospective method, and restate the comparative prior periods. The most significant impact of the new guidance to the Company relates to recognition of revenue and cost from distributor sales. Under the new guidance, the Company is required to recognize revenue and cost relating to distributor sales upon product delivery (Sell-In), subject to estimated allowance for distributor price adjustments and rights of return, rather than deferring the distributor sales upon product delivery and subsequently recognizing revenue when the product is sold by the distributor to the end customer (Sell-Through). Upon adoption, the Company expects that it will record the cumulative balance of the deferred revenue, adjusted for estimates of distributor price adjustments and returns, and related costs under the Sell-Through method to retained earnings. Consolidated financial statements for the years ended April 1, 2017 and March 31, 2018 will be restated in accordance with the new guidance under the Sell-In method. The Company has substantially completed its assessment of the new guidance, and implemented changes to its policies and procedures as well as internal controls surrounding such guidance. The adoption of the new guidance has no impact on cash provided by or used in operating, financing, or investing activities on the Consolidated Statements of Cash Flows. The impact of this new guidance to the Company's fiscal 2018 and 2017 consolidated financial statements is expected as follows: March 31, 2018 April 1, 2017 (In thousands, except per share amounts) As Reported As Adjusted As Reported As Adjusted Consolidated Statements of Income: Net revenues $ 2,539,004 $ 2,467,023 $ 2,349,330 $ 2,356,742 Cost of revenues 756,368 743,419 708,216 708,632 Gross margin 1,782,636 1,723,604 1,641,114 1,648,110 Operating income 745,054 686,022 699,394 706,390 Net income 512,381 463,981 622,512 628,133 Net income per common share: Basic $ 2.05 $ 1.86 $ 2.47 $ 2.49 Diluted $ 1.99 $ 1.80 $ 2.32 $ 2.34 Consolidated Balance Sheets: Accounts receivable $ 372,144 $ 382,246 $ 243,915 $ 283,850 Other assets 342,644 337,402 275,440 272,407 Deferred income on shipments to distributors 25,166 — 54,567 — Other accrued liabilities 59,772 59,680 95,098 95,209 Deferred tax liabilities 75 75 317,639 330,479 Retained earnings 1,483,538 1,513,656 1,726,312 1,804,830 Other Pronouncements In January 2016, the FASB issued final authoritative guidance regarding how companies measure equity investments that do not result in consolidation and are not accounted for under the equity method and how they present changes in the fair value of financial liabilities measured under the fair value option that are attributable to their own credit. The new authoritative guidance also changes certain disclosure requirements and other aspects of current US GAAP on this matter. The new guidance does not change the guidance for classifying and measuring investments in debt securities and loans. The authoritative guidance is effective for public business entities for annual periods beginning after December 15, 2017, and interim periods within those annual periods, which for Xilinx would be the first quarter of fiscal 2019. Upon adoption, the Company would record the ending balance of the unrealized gains or losses as of the end of fiscal 2018 of $11.0 million from its investment in mutual funds and equity securities to retained earnings, less the applicable deferred tax portion, and subsequent changes in fair value from such investments will be recorded under its consolidated statements of income. In February 2016, the FASB issued authoritative guidance on leases. The new authoritative guidance requires the recognition of assets and liabilities arising from lease transactions on the balance sheet and will also require significant additional disclosures about the amount, timing and uncertainty of cash flows from leases. Accordingly, a lessee will recognize a lease asset for its right to use the underlying asset and a lease liability for the corresponding lease obligation. The new authoritative guidance is effective for public business entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, which for Xilinx would be the first quarter of fiscal 2020. Early adoption is permitted. The new authoritative guidance must be adopted using a modified retrospective transition with application of the new authoritative guidance being the beginning of the earliest comparative period presented. To help with the transition to the new guidance, certain practical expedients are provided. The Company is currently evaluating the impact of this new authoritative guidance on its consolidated financial statements. In October 2016, the FASB issued authoritative guidance for accounting for income taxes which eliminates the deferred tax effects of intra-entity asset transfers other than inventory. As a result, a reporting entity would recognize the tax expense from the sale of an asset in the seller’s tax jurisdiction when the transfer occurs, even though the pre-tax effects of that transaction are eliminated in consolidation. The new authoritative guidance will be effective for public business entities in fiscal years beginning after December 15, 2017. Early adoption is permitted as of the beginning of the annual period. The authoritative guidance will be effective for the Company beginning in fiscal 2019 as the Company decided not to early adopt it in fiscal 2018. The Company is currently evaluating the impact of this new authoritative guidance on its consolidated financial statements. In May 2017, the FASB issued authoritative guidance that clarifies the scope of modification accounting for share-based compensation. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. The new guidance will reduce diversity in practice and result in fewer changes to the terms of an award being accounted for as modifications. The new authoritative guidance will be effective for public business entities in fiscal years beginning after December 15, 2017, which for Xilinx would be the first quarter of fiscal 2019. Early adoption is permitted as of the beginning of the annual period. The authoritative guidance will be effective for the Company beginning in fiscal 2019 as the Company decided not to early adopt it in fiscal 2018. This authoritative guidance does not have material impact on the Company's consolidated financial statement. The Company will continually evaluate the impact of this new authoritative guidance. In August 2017, the FASB issued authoritative guidance that amended the accounting for hedging activities. The guidance permits more hedging strategies to be eligible for hedge accounting and simplifies the application of hedge accounting guidance in areas where practice issues exist. The new authoritative guidance will be effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2018, which for Xilinx would be the first quarter of fiscal 2020. Early adoption is permitted, including adoption in any interim periods after issuance of the authoritative guidance. The Company is currently evaluating the impact of this new authoritative guidance on its consolidated financial statements. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Mar. 31, 2018 | |
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 and equity 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. 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 2018 and the Company did not adjust or override any fair value measurements as of March 31, 2018 . 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 securities, money market funds and marketable equity securities. 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, U.S. agency securities, foreign government and agency securities, mortgage-backed securities, debt mutual funds, bank loans, asset-backed securities and commercial mortgage-backed securities. The Company's Level 2 assets and liabilities also include foreign currency forward contracts and interest rate 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 has no Level 3 assets and liabilities measured at fair value on a recurring basis. 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 31, 2018 and April 1, 2017 : March 31, 2018 (In thousands) Quoted Significant Significant Total Fair Assets Cash equivalents: Money market funds $ 1,291,891 $ — $ — $ 1,291,891 Financial institution securities — 359,901 — 359,901 Non-financial institution securities — 242,904 — 242,904 U.S. government and agency securities 996 34,999 — 35,995 Foreign government and agency securities — 179,957 — 179,957 Short-term investments: Financial institution securities — 75,000 — 75,000 Non-financial institution securities — 81,939 — 81,939 U.S. government and agency securities 3,639 19,008 — 22,647 Mortgage-backed securities — 844,397 — 844,397 Asset-backed securities — 91,389 — 91,389 Commercial mortgage-backed securities — 152,870 — 152,870 Long-term investments: Debt mutual fund — 89,670 — 89,670 Marketable equity securities 8,226 — — 8,226 Total assets measured at fair value $ 1,304,752 $ 2,172,034 $ — $ 3,476,786 Liabilities Derivative financial instruments, net $ — $ 26,091 $ — $ 26,091 Total liabilities measured at fair value $ — $ 26,091 $ — $ 26,091 Net assets measured at fair value $ 1,304,752 $ 2,145,943 $ — $ 3,450,695 April 1, 2017 (In thousands) Quoted Significant Significant Total Fair Assets Cash equivalents: Money market funds $ 298,307 $ — $ — $ 298,307 Financial institution securities — 158,962 — 158,962 Non-financial institution securities — 205,322 — 205,322 U.S. government and agency securities 2,998 50,984 — 53,982 Foreign government and agency securities — 177,310 — 177,310 Short-term investments: Financial institution securities — 189,835 — 189,835 Non-financial institution securities — 203,938 — 203,938 U.S. government and agency securities 31,732 44,820 — 76,552 Foreign government and agency securities — 144,811 — 144,811 Mortgage-backed securities — 1,115,403 — 1,115,403 Debt mutual funds — 34,068 — 34,068 Bank loans — 154,014 — 154,014 Asset-backed securities — 218,170 — 218,170 Commercial mortgage-backed securities — 217,971 — 217,971 Long-term investments: Mortgage-backed securities — 60,099 — 60,099 Debt mutual fund — 54,608 — 54,608 Asset-backed securities — 1,581 — 1,581 Derivative financial instruments, net — 1,661 — 1,661 Total assets measured at fair value $ 333,037 $ 3,033,557 $ — $ 3,366,594 For certain of the Company’s financial instruments, including cash held in banks, accounts receivable and accounts payable, the carrying amounts approximate fair value due to their short maturities, and are therefore excluded from the fair value tables above. 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): (In thousands) March 31, 2018 April 1, 2017 Balance as of beginning of period $ — $ 9,977 Total realized and unrealized gains (losses): Included in other comprehensive income (loss) — 523 Sales and settlements, net — (10,500 ) Balance as of end of period $ — $ — As of March 31, 2018 , the Company held no marketable securities measured at fair value using Level 3 inputs. Financial Instruments Not Recorded at Fair Value on a Recurring Basis The Company's $500.0 million principal amount of 2.125% notes due March 15, 2019 (2019 Notes), $500.0 million principal amount of 3.000% notes due March 15, 2021 (2021 Notes) and $750.0 million principal amount of 2.950% senior notes due June 1, 2024 (2024 Notes) are measured at fair value on a quarterly basis for disclosure purposes. The fair values of the 2019 Notes, 2021 Notes and 2024 Notes as of March 31, 2018 were approximately $496.6 million , $498.9 million and $719.7 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). Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis As of March 31, 2018 , the Company had non-marketable equity securities in private companies of $36.7 million (adjusted cost, which approximates fair value). The Company’s investments in non-marketable securities of private companies are accounted for by using the cost method. The fair value of the Company’s cost method investments is not estimated if there are no identified events or changes in circumstances that may have a significant adverse effect on the fair value of these investments. These investments are measured at fair value on a non-recurring basis when they are deemed to be other-than-temporarily impaired. In determining whether a decline in value of non-marketable equity investments in private companies has occurred and is other than temporary, an assessment is made by considering available evidence, including the general market conditions in the investee’s industry, the investee’s product development status and subsequent rounds of financing and the related valuation and/or Xilinx’s participation in such financings. The Company also assesses the investee’s ability to meet business milestones, 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. The valuation methodology for determining the fair value of non-marketable equity securities is based on the factors noted above which require management judgment and are Level 3 inputs. The impairments loss for non-marketable equity securities were not material during all periods presented. |
Financial Instruments
Financial Instruments | 12 Months Ended |
Mar. 31, 2018 | |
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 31, 2018 April 1, 2017 (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 $ 1,291,891 $ — $ — $ 1,291,891 $ 298,307 $ — $ — $ 298,307 Financial institution securities 434,901 — — 434,901 348,797 — — 348,797 Non-financial institution securities 326,219 — (1,376 ) 324,843 409,109 647 (496 ) 409,260 U.S. government and agency securities 58,913 1 (272 ) 58,642 130,749 8 (223 ) 130,534 Foreign government and agency securities 179,957 — — 179,957 322,172 — (51 ) 322,121 Mortgage-backed securities 866,048 660 (22,311 ) 844,397 1,186,732 3,527 (14,757 ) 1,175,502 Asset-backed securities 92,751 16 (1,378 ) 91,389 220,033 404 (686 ) 219,751 Debt mutual funds 101,350 — (11,680 ) 89,670 101,350 — (12,674 ) 88,676 Bank loans — — — — 153,281 839 (106 ) 154,014 Commercial mortgage- backed securities 156,296 1 (3,427 ) 152,870 221,504 146 (3,679 ) 217,971 Marketable equity securities 7,500 726 — 8,226 — — — — $ 3,515,826 $ 1,404 $ (40,444 ) $ 3,476,786 $ 3,392,034 $ 5,571 $ (32,672 ) $ 3,364,933 Financial institution securities include securities issued or managed by financial institutions in various forms, such as commercial paper and time deposits. Substantially all time deposits were issued by institutions outside the U.S. as of March 31, 2018 and April 1, 2017 . 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 31, 2018 and April 1, 2017 : March 31, 2018 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 $ 69,780 $ (1,146 ) $ 8,344 $ (230 ) $ 78,124 $ (1,376 ) U.S. government and agency securities 13,471 (176 ) 9,176 (96 ) 22,647 (272 ) Mortgage-backed securities 510,988 (11,048 ) 299,663 (11,263 ) 810,651 (22,311 ) Asset-backed securities 57,128 (876 ) 32,696 (502 ) 89,824 (1,378 ) Debt mutual funds — — 89,670 (11,680 ) 89,670 (11,680 ) Commercial mortgage- backed securities 95,435 (1,760 ) 56,051 (1,667 ) 151,486 (3,427 ) $ 746,802 $ (15,006 ) $ 495,600 $ (25,438 ) $ 1,242,402 $ (40,444 ) April 1, 2017 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 $ 68,850 $ (492 ) $ 1,022 $ (4 ) $ 69,872 $ (496 ) U.S. government and agency securities 64,895 (223 ) — — 64,895 (223 ) Mortgage-backed securities 811,058 (11,872 ) 139,931 (2,885 ) 950,989 (14,757 ) Asset-backed securities 119,845 (651 ) 4,689 (35 ) 124,534 (686 ) Debt mutual funds — — 88,676 (12,674 ) 88,676 (12,674 ) Bank loans 15,139 (106 ) — — 15,139 (106 ) Foreign government and agency securities 64,857 (51 ) — — 64,857 (51 ) Commercial mortgage- backed securities 165,393 (1,706 ) 24,362 (1,973 ) 189,755 (3,679 ) $ 1,310,037 $ (15,101 ) $ 258,680 $ (17,571 ) $ 1,568,717 $ (32,672 ) As of March 31, 2018 , the gross unrealized losses that had been outstanding for less than twelve months were primarily related to mortgage-backed securities due to the general rising of the interest-rate environment, although the percentage of such losses to the total estimated fair value of the mortgage-backed securities 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 31, 2018 and April 1, 2017 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, there have been no defaults on any of these securities and we have received interest payments as they become due. Therefore, the Company believes that it will be able to collect both principal and interest amounts due to the Company. Additionally, in the past several years a portion of the Company's investment in 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 31, 2018 and April 1, 2017 , the majority of which are related to debt mutual funds and mortgage-backed securities due to foreign currency and interest rate fluctuations. 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 amortized cost and estimated fair value of marketable debt securities (financial institution securities, non-financial institution securities, U.S. and foreign government and agency securities, mortgage-backed securities, asset-backed securities and commercial mortgage-backed securities), 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 31, 2018 (In thousands) Amortized Estimated Due in one year or less $ 926,730 $ 926,683 Due after one year through five years 196,341 192,880 Due after five years through ten years 150,139 146,302 Due after ten years 841,875 821,134 $ 2,115,085 $ 2,086,999 As of March 31, 2018 , $1.16 billion of marketable debt securities with contractual maturities of greater than one year were classified as short-term investments. Additionally, the above table does not include investments in money market, debt mutual funds and equity securities because these securities do not have specific contractual maturities. Certain information related to available-for-sale securities is as follows: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 Proceeds from sale of available-for-sale securities $ 1,161,410 $ 695,030 $ 268,887 Gross realized gains on sale of available-for-sale securities $ 7,258 $ 6,989 $ 1,248 Gross realized losses on sale of available-for-sale securities (7,947 ) (3,457 ) (878 ) Net realized gains (losses) on sale of available-for-sale securities $ (689 ) $ 3,532 $ 370 Amortization of premiums on available-for-sale securities $ 24,569 $ 29,360 $ 26,613 The cost of securities matured or sold is based on the specific identification method. |
Derivative Financial Instrument
Derivative Financial Instruments | 12 Months Ended |
Mar. 31, 2018 | |
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. The Company entered into interest rate swap contracts with certain independent financial institutions to manage interest rate risks related to fixed interest rate expenses from its 2024 Notes and floating interest rate income from its investments in marketable debt securities. See “Note 10. Debt and Credit Facility” for more discussion related to interest rate swap contracts. The interest rate swap contracts were designated and qualified as fair value hedges of the 2024 Notes, and were separately accounted for as a derivative. The interest rate swap contracts and the 2024 Notes were initially measured at fair value. Any subsequent changes in fair values of the interest rate swap contracts and the 2024 Notes will be recorded in the Company’s consolidated balance sheets. During the nine months ended March 31, 2018, the net change in fair values of the interest rate swap contracts and the underlying 2024 Notes was $29.0 million , which was recorded as a derivative liability for the interest rate swap contacts (as a component of other long-term liabilities on the consolidated balance sheets) and also a reduction from the carrying amount of 2024 Notes. There was no ineffectiveness during all periods presented. Other than this arrangement, there have been no material changes to the Company's derivative financial instruments since April 1, 2017. As of March 31, 2018 and April 1, 2017 , 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 31, 2018 April 1, 2017 Singapore Dollar $ 24,914 $ 22,012 Euro 38,987 18,553 Indian Rupee 62,472 31,121 British Pound 8,155 10,813 Japanese Yen 3,859 3,757 Chinese Yuan 8,260 — $ 146,647 $ 86,256 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 February 2020 . The net unrealized gains, which approximate the fair market value of the outstanding forward currency exchange contracts, are expected to be recognized in the consolidated statements of income within the next two years . As of March 31, 2018 , 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 31, 2018 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 31, 2018 and April 1, 2017 , 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 31, 2018 Prepaid expenses and other current assets $ 2,922 Other accrued liabilities $ 12 April 1, 2017 Prepaid expenses and other current assets 2,424 Other accrued liabilities 763 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 2018 and 2017 : Foreign Exchange Contracts Years End (In thousands) March 31, 2018 April 1, 2017 Amount of gains recognized in other comprehensive income on derivative (effective portion of cash flow hedging) $ 862 $ 405 Amount of gain/(losses) reclassified from accumulated other comprehensive income into income (effective portion) * 4,655 (1,701 ) Amount of (losses)/gains recorded (ineffective portion) * (14 ) 31 * Recorded in interest and other expense, net within the consolidated statements of income. |
Stock-Based Compensation Plans
Stock-Based Compensation Plans | 12 Months Ended |
Mar. 31, 2018 | |
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 Amended and Restated 1990 Employee Qualified Stock Purchase Plan (ESPP): Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 Stock-based compensation included in: Cost of revenues $ 8,492 $ 8,014 $ 7,977 Research and development 76,790 66,822 59,692 Selling, general and administrative 51,912 48,022 44,315 Executive transition costs 16,621 — — Stock-based compensation effect on income before taxes 153,815 122,858 111,984 Income tax effect (40,188 ) (37,752 ) (34,119 ) Net stock-based compensation effect on net income $ 113,627 $ 85,106 $ 77,865 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. During fiscal 2018 , 2017 and 2016 , there were no options granted and therefore the Company's stock-based compensation expense related to options, and the number of options outstanding as of March 31, 2018 , were not material. As of March 31, 2018 and April 1, 2017 , the ending inventory balances included $2.1 million and $2.2 million of capitalized stock-based compensation, respectively. During fiscal 2018 , 2017 and 2016 , the tax benefit realized for the tax deduction from restricted stock units (RSUs) and other awards totaled $60.6 million , $53.3 million and $56.3 million , respectively. The tax deduction includes amounts credited to income tax expense in fiscal 2018 and 2017 , and additional paid-in capital in fiscal 2016 . The fair values of ESPP were estimated as of the grant date using the Black-Scholes option pricing model. The Company's expected stock price volatility assumption 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 weighted-average fair value per share of stock purchase rights granted under the ESPP during fiscal 2018 , 2017 and 2016 were $17.95 , $13.00 and $11.12 , respectively. These fair values per share were estimated at the date of grant using the following weighted-average assumptions: Employee Stock Purchase Plan Fiscal 2018 Fiscal 2017 Fiscal 2016 Expected life of options (years) 1.3 1.3 1.3 Expected stock price volatility 0.29 0.24 0.26 Risk-free interest rate 1.6 % 0.7 % 0.5 % Dividend yield 2.1 % 2.4 % 2.7 % The estimated fair values of 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 2018 , 2017 and 2016 were $60.18 , $44.38 and $41.19 , respectively. The weighted average fair value of RSUs granted in fiscal 2018 , 2017 and 2016 were calculated based on estimates at the date of grant using the following weighted-average assumptions: Fiscal 2018 Fiscal 2017 Fiscal 2016 Risk-free interest rate 1.8 % 0.9 % 1.3 % Dividend yield 2.2 % 2.8 % 2.8 % As of March 31, 2018 , total unrecognized stock-based compensation costs related to ESPP was $13.9 million . The total unrecognized stock-based compensation cost for ESPP is expected to be recognized over a weighted-average period of 0.8 years . Equity Incentive Plans As of March 31, 2018 , 11.3 million shares are available for future grants under the 2007 Equity Incentive Plan (2007 Equity Plan). The contractual term for stock awards granted under the 2007 Equity Plan is seven 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 28, 2015 15,373 Stock options cancelled 10 RSUs granted (3,088 ) RSUs cancelled 651 April 2, 2016 12,946 Additional shares reserved 2,500 Stock options cancelled 1 RSUs granted (3,398 ) RSUs cancelled 410 April 1, 2017 12,459 Additional shares reserved 1,900 RSUs granted (3,718 ) RSUs cancelled 701 March 31, 2018 11,342 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. The total pre-tax intrinsic value of options exercised during fiscal 2018 and 2017 was $4.1 million and $28.0 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. 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) March 28, 2015 6,873 $39.07 Granted 3,088 $41.19 Vested (2) (2,691 ) $37.23 Cancelled (651 ) $39.77 April 2, 2016 6,619 $40.74 Granted 3,398 $44.38 Vested (2) (2,619 ) $39.49 Cancelled (410 ) $41.63 April 1, 2017 6,988 $42.93 Granted 3,718 $60.18 Vested (2) (3,016 ) $43.30 Cancelled (701 ) $48.16 March 31, 2018 6,989 $51.39 2.37 $ 504,733 Expected to vest as of March 31, 2018 5,585 $51.46 2.36 $ 403,490 (1) Aggregate intrinsic value for RSUs represents the closing price per share of Xilinx's stock on March 31, 2018 of $72.24 , multiplied by the number of RSUs outstanding or expected to vest as of March 31, 2018 . (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 $130.6 million were vested during fiscal 2018 . As of March 31, 2018 , total unrecognized stock-based compensation costs related to non-vested RSUs was $239.1 million . The total unrecognized stock-based compensation cost for RSUs is expected to be recognized over a weighted-average period of 2.7 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 86% of all eligible employees participated 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 0.9 million shares for $44.3 million in fiscal 2018 , 1.2 million shares for $39.5 million in fiscal 2017, and 1.1 million shares for $37.6 million in fiscal 2016. The next scheduled purchase under the ESPP is in the second quarter of fiscal 2019 . As of March 31, 2018 , 9.3 million shares were available for future issuance. |
Balance Sheet Information
Balance Sheet Information | 12 Months Ended |
Mar. 31, 2018 | |
Payables and Accruals [Abstract] | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [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) March 31, 2018 April 1, 2017 Accrued payroll and related liabilities: Accrued compensation $ 95,316 $ 81,701 Deferred compensation plan liability 103,434 88,110 Other 7,617 6,790 $ 206,367 $ 176,601 (In thousands) March 31, 2018 April 1, 2017 Other accrued liabilities: Interest payable $ 14,169 $ 4,492 Unsettled investment transactions 5,860 62,199 Other 39,743 28,407 $ 59,772 $ 95,098 |
Commitments
Commitments | 12 Months Ended |
Mar. 31, 2018 | |
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 April 2029 . 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. Xilinx also leases cars under non-cancelable operating leases that expire at various dates through December 2021. Approximate future minimum lease payments under non-cancelable operating leases are as follows: Fiscal (In thousands) 2019 $ 8,898 2020 9,427 2021 7,009 2022 5,676 2023 4,788 Thereafter 31,757 Total $ 67,555 Aggregate future rental income to be received, which includes rents from both owned and leased property, totaled $9.3 million as of March 31, 2018 . Rent expense, net of rental income, under all operating leases was $3.9 million for fiscal 2018 , $5.0 million for fiscal 2017 , and $4.5 million for fiscal 2016 . Rental income was not material for fiscal 2018 , 2017 or 2016 . Other commitments as of March 31, 2018 totaled $157.8 million and consisted of purchases of inventory and other non-cancelable purchase obligations related to subcontractors that manufacture silicon wafers and provide assembly and 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. Additionally, as of March 31, 2018 , the Company had $26.2 million of non-cancelable license obligations to providers of electronic design automation software and hardware/software maintenance and $28.9 million commitments primarily related to open purchase orders from ordinary operations. These commitments expire at various dates through December 2022 . |
Net Income Per Common Share
Net Income Per Common Share | 12 Months Ended |
Mar. 31, 2018 | |
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: Years Ended (In thousands, except per share amounts) March 31, 2018 April 1, 2017 April 2, 2016 Net income available to common stockholders $ 512,381 $ 622,512 $ 550,867 Weighted average common shares outstanding-basic 249,595 252,301 257,184 Dilutive effect of employee equity incentive plans 2,754 2,284 2,260 Dilutive effect of 2017 Convertible Notes and warrants 5,611 14,228 9,223 Weighted average common shares outstanding-diluted 257,960 268,813 268,667 Basic earnings per common share $ 2.05 $ 2.47 $ 2.14 Diluted earnings per common share $ 1.99 $ 2.32 $ 2.05 The total shares used in the denominator of the diluted net income per common share calculation include potentially dilutive common equivalent shares outstanding that are not included in basic net income per common share calculation. The diluted shares were calculated by applying the treasury stock method to the impact of the equity incentive plans, the incremental shares issuable assuming conversion of the Company's $600.0 million principal amount of 2.625% convertible notes issued in June 2010 (2017 Convertible Notes), before its maturity on June 15, 2017, and exercise of warrants on a weighted-average outstanding basis, before the final settlements during the third quarter of fiscal 2018. The 2017 Convertible Notes matured during the first quarter of fiscal 2018, and the Company exercised its call options to neutralize the dilutive effect of the incremental shares from the 2017 Convertible Notes. Because the number of diluted shares in the above table for the 12 months ended March 31, 2018 was calculated based on a weighted-average outstanding basis, it included approximately 1.5 million shares of dilutive impact from the 2017 Convertible Notes through the maturity date and 4.1 million shares of dilutive impact from warrants before the settlement. See "Note 12. Debt and Credit Facility" for more discussion of the Company's debt, call options and warrants. Outstanding stock options and RSUs under the Company's stock award plans to purchase approximately 3.7 million , 2.6 million and 4.6 million shares, for fiscal 2018 , 2017 or 2016 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 and RSUs 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 and RSUs. |
Interest and Other Expense, Net
Interest and Other Expense, Net | 12 Months Ended |
Mar. 31, 2018 | |
Other Income and Expenses [Abstract] | |
Interest and Other Expense, Net | Interest and Other Income (Expense), Net The components of interest and other income (expense), net are as follows: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 Interest income $ 58,604 $ 51,121 $ 40,180 Interest expense (45,837 ) (53,953 ) (55,456 ) Other income (expense), net (7,410 ) (5,482 ) (17,780 ) $ 5,357 $ (8,314 ) $ (33,056 ) |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 12 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Accumulated Other Comprehensive 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) March 31, 2018 April 1, 2017 Accumulated unrealized losses on available-for-sale securities, net of tax $ (29,844 ) $ (17,091 ) Accumulated unrealized gains on hedging transactions, net of tax 1,674 661 Accumulated cumulative translation adjustment, net of tax (6,339 ) (8,251 ) Accumulated other comprehensive loss $ (34,509 ) $ (24,681 ) 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. 31, 2018 | |
Debt Disclosure [Abstract] | |
Debt and Credit Facility [Text Block] | Debt and Credit Facility 2017 Convertible Notes During the twelve months ended April 1, 2017, the Company received conversion requests from certain holders of the 2017 Convertible Notes. Upon settlement, the holders received a cash payment equal to the par value of the 2017 Notes converted of $142.1 million , as well as 2.5 million shares of Common Stock. In conjunction with the settlement, the Company exercised the purchased calls and received 2.5 million shares from the hedge counterparties. In accordance with the authoritative guidance for convertible debentures issued by the FASB, the conversion payment was allocated between the liability ( $142.9 million ) and equity ( $149.1 million ) components of the convertible debentures, using the equivalent rate that reflected the borrowing rate for a similar non-convertible debt prior to the conversion. As a result, during fiscal 2017, the Company recognized a loss of $1.7 million . During the first quarter of fiscal 2018, the Company received conversion requests from the remaining holders of the 2017 Convertible Notes. Upon settlement, the holders received a cash payment equal to the par value of the 2017 Convertible Notes of $457.9 million , as well as 9.0 million shares of the Company's common stock. In conjunction with the settlement, the Company exercised its call options on its shares of common stock that it purchased to hedge against the dilution from the conversion of the 2017 Convertible Notes, and received 9.0 million shares from the hedge counterparties. As of the end of the first quarter of fiscal 2018, the 2017 Convertible Notes were no longer outstanding. 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) March 31, 2018 April 1, 2017 Liability component: Principal amount of the 2017 Convertible Notes $ — $ 457,918 Unamortized discount of liability component — (1,977 ) Hedge accounting adjustment – sale of interest rate swap — 571 Unamortized debt issuance costs associated with 2017 Convertible Notes — (184 ) Net carrying value of the 2017 Convertible Notes $ — $ 456,328 Equity component (including temporary equity) – net carrying value $ — $ 50,688 Prior to the conversion, interest expense related to the 2017 Convertible Notes was included in interest and other income (expense), net on the consolidated statements of income, and was recognized as follows: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 Contractual coupon interest $ 2,300 $ 14,652 $ 15,750 Amortization of debt issuance costs 184 1,398 1,448 Amortization of debt discount, net 1,406 10,670 11,052 Total interest expense related to the 2017 Convertible Notes $ 3,890 $ 26,720 $ 28,250 To reduce the hedging costs of purchasing the call options on its common stock as described above, the Company, under separate transactions, sold warrants to independent counterparties, which gave the counterparties the right to purchase up to 21.1 million shares of the Company's common stock at $40.26 per share. All of the warrants were exercised during fiscal 2018 and the Company issued 9.2 million shares of its common stock for the settlement. 2019 and 2021 Notes On March 12, 2014, the Company issued the 2019 Notes and 2021 Notes at a discounted price of 99.477% and 99.281% of par, respectively. Interest on the 2019 Notes and 2021 Notes is payable semi-annually on March 15 and September 15. The Company received net proceeds of $990.1 million from issuance of the 2019 Notes 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 terms of the 2019 and 2021 Notes. As of March 31, 2018 , the remaining term of the 2019 Notes and 2021 Notes are 1.0 years and 3.0 years, respectively. The following table summarizes the carrying value of the 2019 Notes and 2021 Notes in the Company's consolidated balance sheets: (In thousands) March 31, 2018 April 1, 2017 Principal amount of the 2019 Notes $ 500,000 $ 500,000 Unamortized discount of the 2019 Notes (501 ) (1,037 ) Unamortized debt issuance costs associated with the 2019 Notes (313 ) (654 ) Carrying value of the 2019 Notes 499,186 498,309 Principal amount of the 2021 Notes 500,000 500,000 Unamortized discount of the 2021 Notes (1,593 ) (2,107 ) Unamortized debt issuance costs associated with the 2021 Notes (711 ) (955 ) Carrying value of the 2021 Notes $ 497,696 $ 496,938 Total carrying value $ 996,882 $ 995,247 Interest expense related to the 2019 Notes and 2021 Notes was included in interest and other income (expense), net on the consolidated statements of income as follows: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 Contractual coupon interest $ 25,625 $ 25,625 $ 25,625 Amortization of debt issuance costs 586 586 586 Amortization of debt discount, net 1,049 1,022 995 Total interest expense related to the 2019 and 2021 Notes $ 27,260 $ 27,233 $ 27,206 2024 Notes On May 30, 2017 , the Company issued the 2024 Notes at a discounted price of 99.887% of par. Interest on the 2024 Notes is payable semi-annually on June 1 and December 1. The Company received net proceeds of $745.2 million from the issuance of the 2024 Notes, after the debt discount and deduction of debt issuance costs. The debt discounts and issuance costs are amortized to interest expense over the term of the 2024 Notes. As of March 31, 2018 , the remaining term of the 2024 Notes is approximately 6.2 years. In relation to the issuance of the 2024 Notes, the Company entered into interest rate swap contracts with certain independent financial institutions, whereby the Company pays on a semi-annual basis, a variable interest rate equal to the t hree-month London Interbank Offered Rate (LIBOR) plus 91.43 bps , and receives on a semi-annual basis, interest income at a fixed interest rate of 2.950% . The Company earned a net interest income of $1.0 million and $4.4 million during the three and twelve months ended March 31, 2018 , respectively, from the interest rate swap contracts, which was included in interest and other income (expense), net on the consolidated statements of income as a reduction to interest expense. As of March 31, 2018 , the fair value of the interest rate swap contracts was $29.0 million , which was recorded in other long-term liabilities on the consolidated balance sheets. The following table summarizes the carrying value of the 2024 Notes in the Company's consolidated balance sheets: (In thousands) March 31, 2018 April 1, 2017 Principal amount of the 2024 Notes $ 750,000 $ — Unamortized discount of the 2024 Notes (755 ) — Unamortized debt issuance costs associated with the 2024 Notes (3,500 ) — Carrying value of the 2024 Notes 745,745 — Fair value hedge adjustment - interest rate swap contracts (29,001 ) — Net carrying value of the 2024 Notes $ 716,744 $ — Interest expense related to the 2024 Notes was included in interest and other income (expense), net on the consolidated statements of income as follows: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 Contractual coupon interest (net of interest rate swap) $ 14,122 $ — $ — Amortization of debt issuance costs 473 — — Amortization of debt discount 92 — — Total interest expense related to the 2024 Notes $ 14,687 $ — $ — Revolving Credit Facility On December 7, 2016 , the Company entered into a $400.0 million senior unsecured revolving credit facility that, upon certain conditions, may be extended by an additional $150.0 million , with a syndicate of banks (expiring in December 2021 ). 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 31, 2018 , 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. 31, 2018 | |
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 31, 2018 and April 1, 2017 , 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. The last approval was obtained in May 2016 (2016 Repurchase Program), whereby the Board authorized the repurchase of up to $1.00 billion of the Company's common stock and debentures. The 2016 Repurchase Program has no stated expiration date. Through March 31, 2018 , the Company has used $792.6 million of the $1.00 billion authorized under the 2016 Repurchase Program, leaving $207.4 million available for future repurchases. The Company's current policy is to retire all repurchased shares, and consequently, no treasury shares were held as of March 31, 2018 and April 1, 2017 . During fiscal 2018 and 2017 , the Company repurchased 7.0 million and 9.9 million shares of common stock in the open market and through accelerated share repurchase agreements with multiple independent financial institutions for a total of approximately $474.3 million and $522.0 million , respectively. |
Income Taxes
Income Taxes | 12 Months Ended |
Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The provision for income taxes consists of the following: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 Federal: Current $ 565,765 $ (19,097 ) $ 21,366 Deferred (362,346 ) 64,158 42,146 203,419 45,061 63,512 State: Current 2,520 (938 ) 2,447 Deferred 8,304 3,093 1,781 10,824 2,155 4,228 Foreign: Current 23,772 21,121 18,016 Deferred 15 231 202 23,787 21,352 18,218 Total $ 238,030 $ 68,568 $ 85,958 The domestic and foreign components of income before income taxes were as follows: (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 Domestic $ 37,784 $ 41,031 $ 37,568 Foreign 712,627 650,049 599,257 Income before income taxes $ 750,411 $ 691,080 $ 636,825 On December 22, 2017, the TCJA was enacted into law. The TCJA provides for numerous significant tax law changes and modifications including the reduction of the U.S. federal corporate income tax rate from 35% to 21%, the requirement for companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred and the creation of new taxes on certain foreign-sourced earnings. Some provisions of the TCJA began to impact the Company in fiscal 2018, while other provisions will impact the Company beginning in fiscal 2019. The corporate tax rate reduction was effective as of January 1, 2018. Since the Company has a fiscal year rather than a calendar year, it is subject to rules relating to transitional tax rates. As a result, the Company’s fiscal 2018 federal statutory rate was a blended rate of 31.5% . The change in the statutory tax rate from 35% to 31.5% for the Company's fiscal 2018 does not have a significant impact on the effective tax rate. In accordance with Staff Accounting Bulletin 118, the Company has recorded provisional amounts recognizing the effect of the tax law changes in the period of enactment, but will adjust those provisional amounts during a measurement period that is similar to the measurement period used when accounting for business combinations. As of March 31, 2018, the Company has made a reasonable estimate of the effects from the one-time transition tax. The Company recognized a provisional amount of $208.5 million , which was included as a component of income tax expense from continuing operations. The Company also recognized a provisional deferred tax liability of $6.2 million related to future U.S. tax on unremitted foreign earnings, primarily related to state taxes. The Company will continue to assess the impact of the TCJA (and expected further guidance from federal and state tax authorities as well as further guidance for the associated income tax accounting) on its business and consolidated financial statements. The one-time transition tax was based on the Company’s total post-1986 earnings and profits (E&P) of its foreign subsidiaries. The Company had previously accrued deferred taxes on a portion of these same earnings. The larger balance was permanently reinvested outside the U.S. The Company recorded a provisional U.S. federal amount for its one-time transition tax liabilities, resulting in an increase in income tax expense of $590.2 million . This amount reflects an increase of $11.3 million to the provisional amount initially recorded in the third quarter of fiscal 2018. In addition, the Company released the related U.S. federal deferred tax liabilities, resulting in a decrease in income tax expense of $381.7 million . The net increase to tax expense was $208.5 million . The amount recorded for the one-time transition tax remains provisional as the Company has not yet completed its calculation of the total post-1986 E&P for its foreign subsidiaries. Additionally, the Company will continue to evaluate the impact of the tax law change as it relates to providing U.S. taxes on its investments in foreign subsidiaries. Since U.S. federal taxes have been recognized through the one-time transition tax on all accumulated and previously untaxed foreign earnings through December 31, 2017, the Company does not intend to permanently reinvest those earnings. As a result of the reduction of the corporate income tax rate to 21%, U.S. GAAP requires companies to remeasure their deferred tax assets and liabilities as of the date of enactment, with resulting tax effects accounted for in the reporting period of enactment. The Company remeasured deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future. The amount recorded for the remeasurement and resulting write-down of the Company's deferred tax balance was $25.1 million , and its accounting for this effect of TCJA is considered complete under the provisions of Staff Accounting Bulletin 118. In accordance with the adoption of authoritative guidance on accounting for share-based payments in the first quarter of fiscal 2017, the Company recorded excess tax benefits associated with stock-based compensation of $21.5 million and $15.4 million in the provision for income taxes during fiscal 2018 and 2017, respectively. The excess tax benefits associated with stock-based compensation that was recorded in additional paid-in capital in fiscal 2016 was $11.4 million . As of March 31, 2018 , the Company had federal and state net operating loss carryforwards of approximately $14.6 million . If unused, these carryforwards will expire at various dates through fiscal 2036 . 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 $177.4 million as of March 31, 2018 . 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 $128.3 million that is not likely to be recovered and has been reduced by a valuation allowance. 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: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 Income before provision for taxes $ 750,411 $ 691,080 $ 636,825 Federal statutory tax rate 31.5 % 35.0 % 35.0 % Computed expected tax 236,668 241,878 222,889 State taxes, net of federal benefit 10,338 1,741 3,177 Foreign earnings at lower tax rates (199,960 ) (119,616 ) (112,942 ) Tax credits (19,708 ) (34,146 ) (25,211 ) Transition tax 208,523 — — Deferred tax remeasurement 25,148 — — Excess benefits from stock-based compensation (21,520 ) (15,396 ) — Other (1,459 ) (5,893 ) (1,955 ) Provision for income taxes $ 238,030 $ 68,568 $ 85,958 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 percent. The benefits of Pioneer Status in Singapore for fiscal 2018 , fiscal 2017 and fiscal 2016 were approximately $64.1 million ( $0.25 per diluted share), $55.9 million ( $0.21 per diluted share), and $51.3 million ( $0.19 per diluted share), respectively. 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: (In thousands) March 31, 2018 April 1, 2017 Deferred tax assets: Stock-based compensation $ 17,213 $ 22,050 Deferred income on shipments to distributors 2,019 8,167 Accrued expenses 7,172 9,567 Tax credit carryforwards 140,406 109,681 Deferred compensation plan 24,121 32,518 Low income housing and other investments 5,836 8,163 Other 15,337 17,628 Subtotal 212,104 207,774 Valuation allowance (101,383 ) (72,520 ) Total deferred tax assets 110,721 135,254 Deferred tax liabilities: Unremitted foreign earnings (6,185 ) (383,312 ) Convertible debt — (1,573 ) Other (2,522 ) (4,002 ) Total deferred tax liabilities (8,707 ) (388,887 ) Total net deferred tax liabilities $ 102,014 $ (253,633 ) Long-term deferred tax assets of $102.1 million and $64.4 million as of March 31, 2018 and April 1, 2017 , respectively, were included in other assets on the consolidated balance sheet. As of March 31, 2018 and April 1, 2017 , gross deferred tax assets were offset by valuation allowances of $101.4 million and $72.5 million , respectively, which were associated with state tax credit carryforwards. The aggregate changes in the balance of gross unrecognized tax benefits were as follows: (In thousands) March 31, 2018 April 1, 2017 Balance as of beginning of fiscal year $ 30,437 $ 33,999 Increases in tax positions for prior years 90,716 — Decreases in tax positions for prior years (1,063 ) (10,078 ) Increases in tax positions for current year 5,158 6,556 Settlements — — Lapses in statutes of limitation (100 ) (40 ) Balance as of end of fiscal year $ 125,148 $ 30,437 The Company’s total gross unrecognized tax benefits increased by $94.7 million during fiscal 2018. The increase was primarily attributable to an additional deduction claimed on federal and state amended tax returns for repurchase premium paid in connection with the early redemption of the Company’s 3.125% Junior Convertible debenture due March 15, 2037 (2037 Convertible Notes) in fiscal 2014. If the remaining balance of $125.1 million and $30.4 million of unrecognized tax benefits as of March 31, 2018 and April 1, 2017 , respectively, were realized in a future period, it would result in a tax benefit of $15.1 million and $8.5 million , respectively, thereby reducing the effective tax rate. As of March 31, 2018, another $85.5 million related to the 2037 Convertible Notes would increase additional paid-in capital. 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 statutes of limitations have closed for U.S. federal income tax purposes for years through fiscal 2014, for U.S. state income tax purposes for years through fiscal 2010, and for Ireland income tax purposes for years through fiscal 2012. The Company believes its provision for unrecognized tax benefits is adequate for adjustments that may result from tax audits. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in the Company's tax audits are resolved in a manner not consistent with management's expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs. It is reasonably possible that changes to the Company's 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 audits and their possible outcomes, an estimate of the range of increase or decrease that could occur in the next twelve months cannot be made at this time. |
Segment Information
Segment Information | 12 Months Ended |
Mar. 31, 2018 | |
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 2018 , 2017 and 2016 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: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 North America: United States $ 671,452 $ 606,150 $ 592,422 Other (individual countries less than 10%) 96,694 132,300 118,240 Total North America 768,146 738,450 710,662 Asia Pacific: China 663,859 597,310 520,562 Other (individual countries less than 10%) 370,307 358,844 335,304 Total Asia Pacific 1,034,166 956,154 855,866 Europe 513,703 456,585 424,685 Japan 222,989 198,141 222,668 Worldwide total $ 2,539,004 $ 2,349,330 $ 2,213,881 Net long-lived assets by country at fiscal year-ends were as follows: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 United States $ 206,406 $ 211,995 $ 191,400 Foreign: Ireland 38,257 40,626 43,011 Singapore 45,013 39,345 36,029 Other (individual countries less than 10%) 14,441 11,859 12,906 Total foreign 97,711 91,830 91,946 Worldwide total $ 304,117 $ 303,825 $ 283,346 |
Litigation Settlements and Cont
Litigation Settlements and Contingencies | 12 Months Ended |
Mar. 31, 2018 | |
Loss Contingency [Abstract] | |
Litigation Settlements and Contingencies | Litigation Settlements and Contingencies Patent Litigation On February 1, 2017, a patent infringement lawsuit was filed by Godo Kaisha IP Bridge 1 (IP Bridge) against the Company in the U.S. District Court for the Eastern District of Texas (Godo Kaisha IP Bridge 1 v. Xilinx, Inc., Case. No. 2:17-cv-00100). The lawsuit pertains to two patents and IP Bridge seeks unspecified damages, interest, attorneys’ fees, costs, and a permanent injunction or an on-going royalty. On September 14, 2017, the court granted the Company’s motion to transfer venue and the matter is now pending before the U.S. District Court for the Northern District of California. The Company is unable to estimate its range of possible loss, if any, in this matter at this time. On March 17, 2017, a patent infringement lawsuit was filed by Anza Technology, Inc. (Anza) against the Company in the U.S. District Court for the District of Colorado (Anza Technology, Inc. v. Xilinx, Inc., Case No. 1:17-cv-00687). The lawsuit pertains to three patents and Anza seeks unspecified damages, attorney fees, interest, costs, and expenses. On October 27, 2017, the court granted the Company’s motion to transfer venue and the matter is now pending before the U.S. District Court for the Northern District of California. The Company is unable to estimate its range of possible loss, if any, in this matter at this time. On December 11, 2017, a patent infringement lawsuit was filed by Lucio Development LLC (Lucio) against the Company in the U.S. District Court for the Eastern District of Texas (Lucio Development LLC v. Xilinx, Inc., Case No. 6:17-cv-00688). The lawsuit pertained to a single patent and Lucio sought injunctive relief, unspecified damages, interest, and costs. On February 15, 2018, Lucio filed a motion to dismiss without prejudice all claims against the Company. On February 28, 2018, the court granted the motion and dismissed all claims without prejudice. The Company intends to continue to protect and defend our IP vigorously. Other Matters On June 11, 2015, John P. Neblett, as Chapter 7 Trustee of Valley Forge Composite Technologies, Inc., filed a complaint against Xilinx and others in the U.S. Bankruptcy Court for the Middle District of Pennsylvania (Bankruptcy No. 1:13-bk-05253-JJT). The complaint alleges causes of actions against Xilinx for negligence and civil conspiracy relating to alleged violations of U.S. export laws. It seeks at least $50.0 million in damages, together with punitive damages, from the defendants. On September 21, 2015, the action was withdrawn from the U.S. Bankruptcy Court for the Middle District of Pennsylvania and transferred to the U.S. District Court for the Eastern District of Kentucky. On November 2, 2015, Xilinx, along with other defendants, filed a motion to dismiss the complaint. On November 3, 2015, Xilinx filed a motion for sanctions pursuant to Federal Rule of Civil Procedure 11. On June 27, 2016, the Court denied both motions. The Company intends to vigorously defend the case and is unable to estimate its range of possible loss, if any, in this matter at this time. 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 Acquisition-Relate
Goodwill and Acquisition-Related Intangibles | 12 Months Ended |
Mar. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Acquisition-Related Intangibles | Goodwill and Acquisition-Related Intangibles The gross and net amounts of goodwill and of acquisition-related intangibles for all acquisitions were as follows: Weighted-Average (In thousands) March 31, 2018 April 1, 2017 Amortization Life Goodwill $ 162,421 $ 161,287 Core technology, gross 82,480 79,981 Less accumulated amortization (78,562 ) (76,512 ) Core technology, net 3,918 3,469 4.8 years Other intangibles, gross 46,966 46,766 Less accumulated amortization (46,761 ) (46,659 ) Other intangibles, net 205 107 2.6 years Total acquisition-related intangibles, gross 129,446 126,747 Less accumulated amortization (125,323 ) (123,171 ) Total acquisition-related intangibles, net $ 4,123 $ 3,576 Amortization expense for acquisition-related intangibles for fiscal 2018 , 2017 and 2016 were $2.2 million , $5.1 million and $6.6 million , respectively. Based on the carrying value of acquisition-related intangibles recorded as of March 31, 2018 , 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) 2019 $ 1,253 2020 1,160 2021 1,137 2022 573 Total $ 4,123 |
Employee Benefit Plans
Employee Benefit Plans | 12 Months Ended |
Mar. 31, 2018 | |
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 $14.7 million , $12.9 million and $11.0 million in fiscal 2018 , 2017 and 2016 , 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) accounts. 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 75% 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 75% 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 31, 2018 , there were 192 participants in the Plan who self-direct their contributions into a menu of hypothetical investment options offered by the Plan that tracks a portfolio of various deemed investment funds. 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 31, 2018 , Plan assets of $95.3 million were included in other assets within the consolidated balance sheet and obligations of $103.4 million were included in accrued payroll and related liabilities. As of April 1, 2017 , Plan assets were $81.1 million and obligations were $88.1 million . |
Executive Transition Costs
Executive Transition Costs | 12 Months Ended |
Mar. 31, 2018 | |
Restructuring and Related Activities [Abstract] | |
Executive Transition Costs | Executive Transition Costs During the fourth quarter of fiscal 2018, the Company announced the transition of its President and Chief Executive Officer position, whereby Moshe Gavrielov resigned from those roles and Victor Peng assumed these roles. Additionally, the Company also implemented restructuring measures to realign resources and drive overall operating efficiencies, which impacted approximately 60 positions in various geographies and functions worldwide. The Company recorded total transition charges of $33.4 million in the fourth quarter of fiscal 2018, primarily related to severance pay expenses and other benefits. As of the end of fiscal 2018, there was $10.4 million accrual for severance and other benefits that are expected to be paid primarily during fiscal 2019. The following table summarizes the transition costs accrual activity for fiscal 2018: Executive Transition Costs (In thousands) Employee severance and benefits Total executive transition costs $ 33,351 Cash payments (6,306 ) Non-cash charges (16,621 ) Balance as of March 31, 2018 $ 10,424 |
Subsequent Event
Subsequent Event | 12 Months Ended |
Mar. 31, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Event On April 25, 2018, the Company's Board of Directors declared a cash dividend of $0.36 per common share for the first quarter of fiscal 2019. The dividend is payable on June 4, 2018 to stockholders of record as of May 15, 2018. |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Mar. 31, 2018 | |
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 For the year ended April 2, 2016: Allowance for doubtful accounts $ 3,353 $ — $ 12 $ 3,341 Valuation allowance for deferred tax assets $ 52,552 $ 9,834 $ 207 $ 62,179 For the year ended April 1, 2017: Allowance for doubtful accounts $ 3,341 $ — $ 141 $ 3,200 Valuation allowance for deferred tax assets $ 62,179 $ 10,341 $ — $ 72,520 For the year ended March 31, 2018: Allowance for doubtful accounts $ 3,200 $ — $ 30 $ 3,170 Valuation allowance for deferred tax assets $ 72,520 $ 28,863 $ — $ 101,383 Supplementary Financial Data Quarterly Data (Unaudited) (In thousands, except per share amounts) Year ended March 31, 2018 (1) First Second Third Fourth Net revenues $ 615,446 $ 619,503 $ 631,193 $ 672,862 Gross margin 423,351 434,717 449,037 475,531 Income before income taxes (2) 182,259 187,000 195,169 185,984 Net income 167,245 167,532 11,945 165,659 Net income per common share: (3) Basic $ 0.67 $ 0.68 $ 0.05 $ 0.65 Diluted $ 0.63 $ 0.65 $ 0.05 $ 0.64 Shares used in per share calculations: Basic 247,911 248,094 254,089 254,559 Diluted 265,797 258,217 258,108 257,916 Cash dividends declared per common share $ 0.35 $ 0.35 $ 0.35 $ 0.35 (1) Xilinx uses a 52 - to 53 -week fiscal year ending on the Saturday nearest March 31. Fiscal 2018 was a 52-week year and each quarter was a 13 -week quarter. (2) Income before income taxes for the fourth quarter of fiscal 2018 included executive transition costs of $33.4 million . (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 April 1, 2017 (4) First Second Third Fourth Net revenues $ 574,981 $ 579,209 $ 585,688 $ 609,452 Gross margin 406,684 403,334 407,455 423,641 Income before income taxes 181,618 175,662 162,580 171,220 Net income 163,049 164,192 141,846 153,425 Net income per common share: (3) Basic $ 0.64 $ 0.65 $ 0.57 $ 0.62 Diluted $ 0.61 $ 0.61 $ 0.52 $ 0.57 Shares used in per share calculations: Basic 252,901 253,466 250,982 249,014 Diluted 266,206 270,373 270,781 267,157 Cash dividends declared per common share $ 0.33 $ 0.33 $ 0.33 $ 0.33 (4) Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2017 was a 53-week year and each quarter was a 13-week quarter except the third quarter, which was a 14-week quarter. |
Summary of Significant Accoun30
Summary of Significant Accounting Policies and Concentrations of Risk (Policies) | 12 Months Ended |
Mar. 31, 2018 | |
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 2018 and 2017 were a 52-week year ended on March 31, 2018 and April 1, 2017 , respectively. Fiscal 2016 was a 53-week year, ended on April 2, 2016. Fiscal 2019 will be a 52-week year ending on March 30, 2019 . |
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 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 money market funds, non-financial institution securities, U.S. and foreign government and agency securities and financial institution securities. Short-term investments consist of mortgage-backed securities, non-financial institution securities, U.S. and foreign government and agency securities, financial institution securities, asset-back securities, commercial mortgage-backed securities, bank loans and debt mutual funds 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, debt mutual funds and asset-backed securities 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. 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, U.S. and foreign government and agency securities, asset-backed securities, mortgage-backed securities, commercial mortgage-backed securities, bank time deposits, bank loans 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, commercial mortgage-backed securities, bank loans, debt mutual funds 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 31, 2018 or April 1, 2017 . 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 and declines in value judged to be other than temporary are included in interest and other expense, net. 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 interest and other expense, net, 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) March 31, 2018 April 1, 2017 Raw materials $ 14,674 $ 14,517 Work-in-process 167,039 161,120 Finished goods 54,364 51,396 $ 236,077 $ 227,033 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 $46.4 million , $45.4 million and $50.8 million for fiscal 2018 , 2017 and 2016 , respectively. |
Impairment of Long-Lived Assets Including Acquisition-Related Intangibles | Impairment of Long-Lived Assets The Company evaluates the carrying value of long-lived 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 2018 , there was no impairment of goodwill in fiscal 2018 . 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 2019 . 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 2018 , approximately 53% 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 31, 2018 , the Company had $31.8 million of deferred revenue and $6.6 million of deferred cost of revenues recognized as a net $25.2 million of deferred income on shipments to distributors. As of April 1, 2017 , the Company had $74.2 million of deferred revenue and $19.6 million of deferred cost of revenues recognized as a net $54.6 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 software licenses and support services sales were 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 |
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 interest rate, 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 or vested) 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). Additionally, the Company's ESPP is deemed to be 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 Financial Accounting Standards Board (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 2018 and 2017 , 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. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk Avnet, one of the Company's distributors, distributes the Company's products worldwide. As of March 31, 2018 and April 1, 2017 , Avnet accounted for 60% and 59% of the Company's total net accounts receivable, respectively. Resale of product through Avnet accounted for 43% , 44% and 50% of the Company's worldwide net revenues in fiscal 2018 , 2017 and 2016 , 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 and 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 91% of its portfolio in AA (or its equivalent) or higher grade securities as rated by Standard & Poor's or Moody's Investors Service equivalent. 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 31, 2018 , approximately 24% 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. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Not Yet Adopted Revenue Recognition In April 2014, the FASB issued the authoritative guidance, as amended, that outlines a new global revenue recognition standard that replaces virtually all existing U.S. GAAP guidance on contracts with customers and the related other assets and deferred costs. The authoritative 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 new guidance 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. The new guidance is required to be applied retrospectively to each prior reporting period presented (Full Retrospective), or retrospectively with the cumulative effect of initially applying it recognized at the date of initial application. The Company will adopt the new guidance beginning in its fiscal 2019, using the Full Retrospective method, and restate the comparative prior periods. The most significant impact of the new guidance to the Company relates to recognition of revenue and cost from distributor sales. Under the new guidance, the Company is required to recognize revenue and cost relating to distributor sales upon product delivery (Sell-In), subject to estimated allowance for distributor price adjustments and rights of return, rather than deferring the distributor sales upon product delivery and subsequently recognizing revenue when the product is sold by the distributor to the end customer (Sell-Through). Upon adoption, the Company expects that it will record the cumulative balance of the deferred revenue, adjusted for estimates of distributor price adjustments and returns, and related costs under the Sell-Through method to retained earnings. Consolidated financial statements for the years ended April 1, 2017 and March 31, 2018 will be restated in accordance with the new guidance under the Sell-In method. The Company has substantially completed its assessment of the new guidance, and implemented changes to its policies and procedures as well as internal controls surrounding such guidance. The adoption of the new guidance has no impact on cash provided by or used in operating, financing, or investing activities on the Consolidated Statements of Cash Flows. The impact of this new guidance to the Company's fiscal 2018 and 2017 consolidated financial statements is expected as follows: March 31, 2018 April 1, 2017 (In thousands, except per share amounts) As Reported As Adjusted As Reported As Adjusted Consolidated Statements of Income: Net revenues $ 2,539,004 $ 2,467,023 $ 2,349,330 $ 2,356,742 Cost of revenues 756,368 743,419 708,216 708,632 Gross margin 1,782,636 1,723,604 1,641,114 1,648,110 Operating income 745,054 686,022 699,394 706,390 Net income 512,381 463,981 622,512 628,133 Net income per common share: Basic $ 2.05 $ 1.86 $ 2.47 $ 2.49 Diluted $ 1.99 $ 1.80 $ 2.32 $ 2.34 Consolidated Balance Sheets: Accounts receivable $ 372,144 $ 382,246 $ 243,915 $ 283,850 Other assets 342,644 337,402 275,440 272,407 Deferred income on shipments to distributors 25,166 — 54,567 — Other accrued liabilities 59,772 59,680 95,098 95,209 Deferred tax liabilities 75 75 317,639 330,479 Retained earnings 1,483,538 1,513,656 1,726,312 1,804,830 Other Pronouncements In January 2016, the FASB issued final authoritative guidance regarding how companies measure equity investments that do not result in consolidation and are not accounted for under the equity method and how they present changes in the fair value of financial liabilities measured under the fair value option that are attributable to their own credit. The new authoritative guidance also changes certain disclosure requirements and other aspects of current US GAAP on this matter. The new guidance does not change the guidance for classifying and measuring investments in debt securities and loans. The authoritative guidance is effective for public business entities for annual periods beginning after December 15, 2017, and interim periods within those annual periods, which for Xilinx would be the first quarter of fiscal 2019. Upon adoption, the Company would record the ending balance of the unrealized gains or losses as of the end of fiscal 2018 of $11.0 million from its investment in mutual funds and equity securities to retained earnings, less the applicable deferred tax portion, and subsequent changes in fair value from such investments will be recorded under its consolidated statements of income. In February 2016, the FASB issued authoritative guidance on leases. The new authoritative guidance requires the recognition of assets and liabilities arising from lease transactions on the balance sheet and will also require significant additional disclosures about the amount, timing and uncertainty of cash flows from leases. Accordingly, a lessee will recognize a lease asset for its right to use the underlying asset and a lease liability for the corresponding lease obligation. The new authoritative guidance is effective for public business entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, which for Xilinx would be the first quarter of fiscal 2020. Early adoption is permitted. The new authoritative guidance must be adopted using a modified retrospective transition with application of the new authoritative guidance being the beginning of the earliest comparative period presented. To help with the transition to the new guidance, certain practical expedients are provided. The Company is currently evaluating the impact of this new authoritative guidance on its consolidated financial statements. In October 2016, the FASB issued authoritative guidance for accounting for income taxes which eliminates the deferred tax effects of intra-entity asset transfers other than inventory. As a result, a reporting entity would recognize the tax expense from the sale of an asset in the seller’s tax jurisdiction when the transfer occurs, even though the pre-tax effects of that transaction are eliminated in consolidation. The new authoritative guidance will be effective for public business entities in fiscal years beginning after December 15, 2017. Early adoption is permitted as of the beginning of the annual period. The authoritative guidance will be effective for the Company beginning in fiscal 2019 as the Company decided not to early adopt it in fiscal 2018. The Company is currently evaluating the impact of this new authoritative guidance on its consolidated financial statements. In May 2017, the FASB issued authoritative guidance that clarifies the scope of modification accounting for share-based compensation. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. The new guidance will reduce diversity in practice and result in fewer changes to the terms of an award being accounted for as modifications. The new authoritative guidance will be effective for public business entities in fiscal years beginning after December 15, 2017, which for Xilinx would be the first quarter of fiscal 2019. Early adoption is permitted as of the beginning of the annual period. The authoritative guidance will be effective for the Company beginning in fiscal 2019 as the Company decided not to early adopt it in fiscal 2018. This authoritative guidance does not have material impact on the Company's consolidated financial statement. The Company will continually evaluate the impact of this new authoritative guidance. In August 2017, the FASB issued authoritative guidance that amended the accounting for hedging activities. The guidance permits more hedging strategies to be eligible for hedge accounting and simplifies the application of hedge accounting guidance in areas where practice issues exist. The new authoritative guidance will be effective for public business entities for annual periods, and interim periods within those annual periods, beginning after December 15, 2018, which for Xilinx would be the first quarter of fiscal 2020. Early adoption is permitted, including adoption in any interim periods after issuance of the authoritative guidance. The Company is currently evaluating the impact of this new authoritative guidance on its consolidated financial statements. |
Summary of Significant Accoun31
Summary of Significant Accounting Policies and Concentrations of Risk (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [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) March 31, 2018 April 1, 2017 Raw materials $ 14,674 $ 14,517 Work-in-process 167,039 161,120 Finished goods 54,364 51,396 $ 236,077 $ 227,033 |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | The impact of this new guidance to the Company's fiscal 2018 and 2017 consolidated financial statements is expected as follows: March 31, 2018 April 1, 2017 (In thousands, except per share amounts) As Reported As Adjusted As Reported As Adjusted Consolidated Statements of Income: Net revenues $ 2,539,004 $ 2,467,023 $ 2,349,330 $ 2,356,742 Cost of revenues 756,368 743,419 708,216 708,632 Gross margin 1,782,636 1,723,604 1,641,114 1,648,110 Operating income 745,054 686,022 699,394 706,390 Net income 512,381 463,981 622,512 628,133 Net income per common share: Basic $ 2.05 $ 1.86 $ 2.47 $ 2.49 Diluted $ 1.99 $ 1.80 $ 2.32 $ 2.34 Consolidated Balance Sheets: Accounts receivable $ 372,144 $ 382,246 $ 243,915 $ 283,850 Other assets 342,644 337,402 275,440 272,407 Deferred income on shipments to distributors 25,166 — 54,567 — Other accrued liabilities 59,772 59,680 95,098 95,209 Deferred tax liabilities 75 75 317,639 330,479 Retained earnings 1,483,538 1,513,656 1,726,312 1,804,830 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
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 31, 2018 and April 1, 2017 : March 31, 2018 (In thousands) Quoted Significant Significant Total Fair Assets Cash equivalents: Money market funds $ 1,291,891 $ — $ — $ 1,291,891 Financial institution securities — 359,901 — 359,901 Non-financial institution securities — 242,904 — 242,904 U.S. government and agency securities 996 34,999 — 35,995 Foreign government and agency securities — 179,957 — 179,957 Short-term investments: Financial institution securities — 75,000 — 75,000 Non-financial institution securities — 81,939 — 81,939 U.S. government and agency securities 3,639 19,008 — 22,647 Mortgage-backed securities — 844,397 — 844,397 Asset-backed securities — 91,389 — 91,389 Commercial mortgage-backed securities — 152,870 — 152,870 Long-term investments: Debt mutual fund — 89,670 — 89,670 Marketable equity securities 8,226 — — 8,226 Total assets measured at fair value $ 1,304,752 $ 2,172,034 $ — $ 3,476,786 Liabilities Derivative financial instruments, net $ — $ 26,091 $ — $ 26,091 Total liabilities measured at fair value $ — $ 26,091 $ — $ 26,091 Net assets measured at fair value $ 1,304,752 $ 2,145,943 $ — $ 3,450,695 April 1, 2017 (In thousands) Quoted Significant Significant Total Fair Assets Cash equivalents: Money market funds $ 298,307 $ — $ — $ 298,307 Financial institution securities — 158,962 — 158,962 Non-financial institution securities — 205,322 — 205,322 U.S. government and agency securities 2,998 50,984 — 53,982 Foreign government and agency securities — 177,310 — 177,310 Short-term investments: Financial institution securities — 189,835 — 189,835 Non-financial institution securities — 203,938 — 203,938 U.S. government and agency securities 31,732 44,820 — 76,552 Foreign government and agency securities — 144,811 — 144,811 Mortgage-backed securities — 1,115,403 — 1,115,403 Debt mutual funds — 34,068 — 34,068 Bank loans — 154,014 — 154,014 Asset-backed securities — 218,170 — 218,170 Commercial mortgage-backed securities — 217,971 — 217,971 Long-term investments: Mortgage-backed securities — 60,099 — 60,099 Debt mutual fund — 54,608 — 54,608 Asset-backed securities — 1,581 — 1,581 Derivative financial instruments, net — 1,661 — 1,661 Total assets measured at fair value $ 333,037 $ 3,033,557 $ — $ 3,366,594 |
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): (In thousands) March 31, 2018 April 1, 2017 Balance as of beginning of period $ — $ 9,977 Total realized and unrealized gains (losses): Included in other comprehensive income (loss) — 523 Sales and settlements, net — (10,500 ) Balance as of end of period $ — $ — |
Financial Instruments (Tables)
Financial Instruments (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
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 31, 2018 April 1, 2017 (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 $ 1,291,891 $ — $ — $ 1,291,891 $ 298,307 $ — $ — $ 298,307 Financial institution securities 434,901 — — 434,901 348,797 — — 348,797 Non-financial institution securities 326,219 — (1,376 ) 324,843 409,109 647 (496 ) 409,260 U.S. government and agency securities 58,913 1 (272 ) 58,642 130,749 8 (223 ) 130,534 Foreign government and agency securities 179,957 — — 179,957 322,172 — (51 ) 322,121 Mortgage-backed securities 866,048 660 (22,311 ) 844,397 1,186,732 3,527 (14,757 ) 1,175,502 Asset-backed securities 92,751 16 (1,378 ) 91,389 220,033 404 (686 ) 219,751 Debt mutual funds 101,350 — (11,680 ) 89,670 101,350 — (12,674 ) 88,676 Bank loans — — — — 153,281 839 (106 ) 154,014 Commercial mortgage- backed securities 156,296 1 (3,427 ) 152,870 221,504 146 (3,679 ) 217,971 Marketable equity securities 7,500 726 — 8,226 — — — — $ 3,515,826 $ 1,404 $ (40,444 ) $ 3,476,786 $ 3,392,034 $ 5,571 $ (32,672 ) $ 3,364,933 |
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 31, 2018 and April 1, 2017 : March 31, 2018 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 $ 69,780 $ (1,146 ) $ 8,344 $ (230 ) $ 78,124 $ (1,376 ) U.S. government and agency securities 13,471 (176 ) 9,176 (96 ) 22,647 (272 ) Mortgage-backed securities 510,988 (11,048 ) 299,663 (11,263 ) 810,651 (22,311 ) Asset-backed securities 57,128 (876 ) 32,696 (502 ) 89,824 (1,378 ) Debt mutual funds — — 89,670 (11,680 ) 89,670 (11,680 ) Commercial mortgage- backed securities 95,435 (1,760 ) 56,051 (1,667 ) 151,486 (3,427 ) $ 746,802 $ (15,006 ) $ 495,600 $ (25,438 ) $ 1,242,402 $ (40,444 ) April 1, 2017 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 $ 68,850 $ (492 ) $ 1,022 $ (4 ) $ 69,872 $ (496 ) U.S. government and agency securities 64,895 (223 ) — — 64,895 (223 ) Mortgage-backed securities 811,058 (11,872 ) 139,931 (2,885 ) 950,989 (14,757 ) Asset-backed securities 119,845 (651 ) 4,689 (35 ) 124,534 (686 ) Debt mutual funds — — 88,676 (12,674 ) 88,676 (12,674 ) Bank loans 15,139 (106 ) — — 15,139 (106 ) Foreign government and agency securities 64,857 (51 ) — — 64,857 (51 ) Commercial mortgage- backed securities 165,393 (1,706 ) 24,362 (1,973 ) 189,755 (3,679 ) $ 1,310,037 $ (15,101 ) $ 258,680 $ (17,571 ) $ 1,568,717 $ (32,672 ) |
Amortized cost and estimated fair value of marketable debt securities | March 31, 2018 (In thousands) Amortized Estimated Due in one year or less $ 926,730 $ 926,683 Due after one year through five years 196,341 192,880 Due after five years through ten years 150,139 146,302 Due after ten years 841,875 821,134 $ 2,115,085 $ 2,086,999 |
Information on sale of available-for-sale securities | Certain information related to available-for-sale securities is as follows: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 Proceeds from sale of available-for-sale securities $ 1,161,410 $ 695,030 $ 268,887 Gross realized gains on sale of available-for-sale securities $ 7,258 $ 6,989 $ 1,248 Gross realized losses on sale of available-for-sale securities (7,947 ) (3,457 ) (878 ) Net realized gains (losses) on sale of available-for-sale securities $ (689 ) $ 3,532 $ 370 Amortization of premiums on available-for-sale securities $ 24,569 $ 29,360 $ 26,613 |
Derivative Financial Instrume34
Derivative Financial Instruments (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Forward currency exchange contracts outstanding | As of March 31, 2018 and April 1, 2017 , 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 31, 2018 April 1, 2017 Singapore Dollar $ 24,914 $ 22,012 Euro 38,987 18,553 Indian Rupee 62,472 31,121 British Pound 8,155 10,813 Japanese Yen 3,859 3,757 Chinese Yuan 8,260 — $ 146,647 $ 86,256 |
Derivative Instruments Located on Condensed Consolidated Balance Sheet | The Company had the following derivative instruments as of March 31, 2018 and April 1, 2017 , 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 31, 2018 Prepaid expenses and other current assets $ 2,922 Other accrued liabilities $ 12 April 1, 2017 Prepaid expenses and other current assets 2,424 Other accrued liabilities 763 |
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 2018 and 2017 : Foreign Exchange Contracts Years End (In thousands) March 31, 2018 April 1, 2017 Amount of gains recognized in other comprehensive income on derivative (effective portion of cash flow hedging) $ 862 $ 405 Amount of gain/(losses) reclassified from accumulated other comprehensive income into income (effective portion) * 4,655 (1,701 ) Amount of (losses)/gains recorded (ineffective portion) * (14 ) 31 * Recorded in interest and other expense, net within the consolidated statements of income. |
Stock-Based Compensation Plans
Stock-Based Compensation Plans (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | The per share weighted-average fair value of RSUs granted during fiscal 2018 , 2017 and 2016 were $60.18 , $44.38 and $41.19 , respectively. The weighted average fair value of RSUs granted in fiscal 2018 , 2017 and 2016 were calculated based on estimates at the date of grant using the following weighted-average assumptions: Fiscal 2018 Fiscal 2017 Fiscal 2016 Risk-free interest rate 1.8 % 0.9 % 1.3 % Dividend yield 2.2 % 2.8 % 2.8 % |
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 28, 2015 15,373 Stock options cancelled 10 RSUs granted (3,088 ) RSUs cancelled 651 April 2, 2016 12,946 Additional shares reserved 2,500 Stock options cancelled 1 RSUs granted (3,398 ) RSUs cancelled 410 April 1, 2017 12,459 Additional shares reserved 1,900 RSUs granted (3,718 ) RSUs cancelled 701 March 31, 2018 11,342 |
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) March 28, 2015 6,873 $39.07 Granted 3,088 $41.19 Vested (2) (2,691 ) $37.23 Cancelled (651 ) $39.77 April 2, 2016 6,619 $40.74 Granted 3,398 $44.38 Vested (2) (2,619 ) $39.49 Cancelled (410 ) $41.63 April 1, 2017 6,988 $42.93 Granted 3,718 $60.18 Vested (2) (3,016 ) $43.30 Cancelled (701 ) $48.16 March 31, 2018 6,989 $51.39 2.37 $ 504,733 Expected to vest as of March 31, 2018 5,585 $51.46 2.36 $ 403,490 (1) Aggregate intrinsic value for RSUs represents the closing price per share of Xilinx's stock on March 31, 2018 of $72.24 , multiplied by the number of RSUs outstanding or expected to vest as of March 31, 2018 . (2) The number of RSUs vested includes shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements. |
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 Fiscal 2018 Fiscal 2017 Fiscal 2016 Expected life of options (years) 1.3 1.3 1.3 Expected stock price volatility 0.29 0.24 0.26 Risk-free interest rate 1.6 % 0.7 % 0.5 % Dividend yield 2.1 % 2.4 % 2.7 % |
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 Amended and Restated 1990 Employee Qualified Stock Purchase Plan (ESPP): Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 Stock-based compensation included in: Cost of revenues $ 8,492 $ 8,014 $ 7,977 Research and development 76,790 66,822 59,692 Selling, general and administrative 51,912 48,022 44,315 Executive transition costs 16,621 — — Stock-based compensation effect on income before taxes 153,815 122,858 111,984 Income tax effect (40,188 ) (37,752 ) (34,119 ) Net stock-based compensation effect on net income $ 113,627 $ 85,106 $ 77,865 |
Balance Sheet Information (Tabl
Balance Sheet Information (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
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) March 31, 2018 April 1, 2017 Accrued payroll and related liabilities: Accrued compensation $ 95,316 $ 81,701 Deferred compensation plan liability 103,434 88,110 Other 7,617 6,790 $ 206,367 $ 176,601 (In thousands) March 31, 2018 April 1, 2017 Other accrued liabilities: Interest payable $ 14,169 $ 4,492 Unsettled investment transactions 5,860 62,199 Other 39,743 28,407 $ 59,772 $ 95,098 |
Commitments (Tables)
Commitments (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
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) 2019 $ 8,898 2020 9,427 2021 7,009 2022 5,676 2023 4,788 Thereafter 31,757 Total $ 67,555 |
Net Income Per Common Share (Ta
Net Income Per Common Share (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted | The following table summarizes the computation of basic and diluted net income per common share: Years Ended (In thousands, except per share amounts) March 31, 2018 April 1, 2017 April 2, 2016 Net income available to common stockholders $ 512,381 $ 622,512 $ 550,867 Weighted average common shares outstanding-basic 249,595 252,301 257,184 Dilutive effect of employee equity incentive plans 2,754 2,284 2,260 Dilutive effect of 2017 Convertible Notes and warrants 5,611 14,228 9,223 Weighted average common shares outstanding-diluted 257,960 268,813 268,667 Basic earnings per common share $ 2.05 $ 2.47 $ 2.14 Diluted earnings per common share $ 1.99 $ 2.32 $ 2.05 |
Interest And Other Expense, N39
Interest And Other Expense, Net (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Other Income and Expenses [Abstract] | |
Components of interest and other expense, net | The components of interest and other income (expense), net are as follows: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 Interest income $ 58,604 $ 51,121 $ 40,180 Interest expense (45,837 ) (53,953 ) (55,456 ) Other income (expense), net (7,410 ) (5,482 ) (17,780 ) $ 5,357 $ (8,314 ) $ (33,056 ) |
Accumulated Other Comprehensi40
Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Components of accumulated other comprehensive income (loss) | The components of accumulated other comprehensive loss are as follows: (In thousands) March 31, 2018 April 1, 2017 Accumulated unrealized losses on available-for-sale securities, net of tax $ (29,844 ) $ (17,091 ) Accumulated unrealized gains on hedging transactions, net of tax 1,674 661 Accumulated cumulative translation adjustment, net of tax (6,339 ) (8,251 ) Accumulated other comprehensive loss $ (34,509 ) $ (24,681 ) |
Debt and Credit Facility (Table
Debt and Credit Facility (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
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) March 31, 2018 April 1, 2017 Liability component: Principal amount of the 2017 Convertible Notes $ — $ 457,918 Unamortized discount of liability component — (1,977 ) Hedge accounting adjustment – sale of interest rate swap — 571 Unamortized debt issuance costs associated with 2017 Convertible Notes — (184 ) Net carrying value of the 2017 Convertible Notes $ — $ 456,328 Equity component (including temporary equity) – net carrying value $ — $ 50,688 |
Interest Expense Related to Debentures [Table Text Block] | interest expense related to the 2017 Convertible Notes was included in interest and other income (expense), net on the consolidated statements of income, and was recognized as follows: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 Contractual coupon interest $ 2,300 $ 14,652 $ 15,750 Amortization of debt issuance costs 184 1,398 1,448 Amortization of debt discount, net 1,406 10,670 11,052 Total interest expense related to the 2017 Convertible Notes $ 3,890 $ 26,720 $ 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 Notes and 2021 Notes in the Company's consolidated balance sheets: (In thousands) March 31, 2018 April 1, 2017 Principal amount of the 2019 Notes $ 500,000 $ 500,000 Unamortized discount of the 2019 Notes (501 ) (1,037 ) Unamortized debt issuance costs associated with the 2019 Notes (313 ) (654 ) Carrying value of the 2019 Notes 499,186 498,309 Principal amount of the 2021 Notes 500,000 500,000 Unamortized discount of the 2021 Notes (1,593 ) (2,107 ) Unamortized debt issuance costs associated with the 2021 Notes (711 ) (955 ) Carrying value of the 2021 Notes $ 497,696 $ 496,938 Total carrying value $ 996,882 $ 995,247 |
Interest Expense Related to Debentures [Table Text Block] | Interest expense related to the 2019 Notes and 2021 Notes was included in interest and other income (expense), net on the consolidated statements of income as follows: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 Contractual coupon interest $ 25,625 $ 25,625 $ 25,625 Amortization of debt issuance costs 586 586 586 Amortization of debt discount, net 1,049 1,022 995 Total interest expense related to the 2019 and 2021 Notes $ 27,260 $ 27,233 $ 27,206 |
2024 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 2024 Notes in the Company's consolidated balance sheets: (In thousands) March 31, 2018 April 1, 2017 Principal amount of the 2024 Notes $ 750,000 $ — Unamortized discount of the 2024 Notes (755 ) — Unamortized debt issuance costs associated with the 2024 Notes (3,500 ) — Carrying value of the 2024 Notes 745,745 — Fair value hedge adjustment - interest rate swap contracts (29,001 ) — Net carrying value of the 2024 Notes $ 716,744 $ — |
Interest Expense Related to Debentures [Table Text Block] | Interest expense related to the 2024 Notes was included in interest and other income (expense), net on the consolidated statements of income as follows: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 Contractual coupon interest (net of interest rate swap) $ 14,122 $ — $ — Amortization of debt issuance costs 473 — — Amortization of debt discount 92 — — Total interest expense related to the 2024 Notes $ 14,687 $ — $ — |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Schedule of Provision for Income Taxes | The provision for income taxes consists of the following: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 Federal: Current $ 565,765 $ (19,097 ) $ 21,366 Deferred (362,346 ) 64,158 42,146 203,419 45,061 63,512 State: Current 2,520 (938 ) 2,447 Deferred 8,304 3,093 1,781 10,824 2,155 4,228 Foreign: Current 23,772 21,121 18,016 Deferred 15 231 202 23,787 21,352 18,218 Total $ 238,030 $ 68,568 $ 85,958 |
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 31, 2018 April 1, 2017 April 2, 2016 Domestic $ 37,784 $ 41,031 $ 37,568 Foreign 712,627 650,049 599,257 Income before income taxes $ 750,411 $ 691,080 $ 636,825 |
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: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 Income before provision for taxes $ 750,411 $ 691,080 $ 636,825 Federal statutory tax rate 31.5 % 35.0 % 35.0 % Computed expected tax 236,668 241,878 222,889 State taxes, net of federal benefit 10,338 1,741 3,177 Foreign earnings at lower tax rates (199,960 ) (119,616 ) (112,942 ) Tax credits (19,708 ) (34,146 ) (25,211 ) Transition tax 208,523 — — Deferred tax remeasurement 25,148 — — Excess benefits from stock-based compensation (21,520 ) (15,396 ) — Other (1,459 ) (5,893 ) (1,955 ) Provision for income taxes $ 238,030 $ 68,568 $ 85,958 |
Schedule of Deferred Tax Assets and Liabilities | The major components of deferred tax assets and liabilities consisted of the following: (In thousands) March 31, 2018 April 1, 2017 Deferred tax assets: Stock-based compensation $ 17,213 $ 22,050 Deferred income on shipments to distributors 2,019 8,167 Accrued expenses 7,172 9,567 Tax credit carryforwards 140,406 109,681 Deferred compensation plan 24,121 32,518 Low income housing and other investments 5,836 8,163 Other 15,337 17,628 Subtotal 212,104 207,774 Valuation allowance (101,383 ) (72,520 ) Total deferred tax assets 110,721 135,254 Deferred tax liabilities: Unremitted foreign earnings (6,185 ) (383,312 ) Convertible debt — (1,573 ) Other (2,522 ) (4,002 ) Total deferred tax liabilities (8,707 ) (388,887 ) Total net deferred tax liabilities $ 102,014 $ (253,633 ) |
Schedule of Changes to Unrecognized Income Tax Benefits | The aggregate changes in the balance of gross unrecognized tax benefits were as follows: (In thousands) March 31, 2018 April 1, 2017 Balance as of beginning of fiscal year $ 30,437 $ 33,999 Increases in tax positions for prior years 90,716 — Decreases in tax positions for prior years (1,063 ) (10,078 ) Increases in tax positions for current year 5,158 6,556 Settlements — — Lapses in statutes of limitation (100 ) (40 ) Balance as of end of fiscal year $ 125,148 $ 30,437 |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | Net revenues by geographic region were as follows: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 North America: United States $ 671,452 $ 606,150 $ 592,422 Other (individual countries less than 10%) 96,694 132,300 118,240 Total North America 768,146 738,450 710,662 Asia Pacific: China 663,859 597,310 520,562 Other (individual countries less than 10%) 370,307 358,844 335,304 Total Asia Pacific 1,034,166 956,154 855,866 Europe 513,703 456,585 424,685 Japan 222,989 198,141 222,668 Worldwide total $ 2,539,004 $ 2,349,330 $ 2,213,881 Net long-lived assets by country at fiscal year-ends were as follows: Years Ended (In thousands) March 31, 2018 April 1, 2017 April 2, 2016 United States $ 206,406 $ 211,995 $ 191,400 Foreign: Ireland 38,257 40,626 43,011 Singapore 45,013 39,345 36,029 Other (individual countries less than 10%) 14,441 11,859 12,906 Total foreign 97,711 91,830 91,946 Worldwide total $ 304,117 $ 303,825 $ 283,346 |
Goodwill and Acquisition-Rela44
Goodwill and Acquisition-Related Intangibles (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Gross and net amounts of goodwill and of acquisition-related intangibles | The gross and net amounts of goodwill and of acquisition-related intangibles for all acquisitions were as follows: Weighted-Average (In thousands) March 31, 2018 April 1, 2017 Amortization Life Goodwill $ 162,421 $ 161,287 Core technology, gross 82,480 79,981 Less accumulated amortization (78,562 ) (76,512 ) Core technology, net 3,918 3,469 4.8 years Other intangibles, gross 46,966 46,766 Less accumulated amortization (46,761 ) (46,659 ) Other intangibles, net 205 107 2.6 years Total acquisition-related intangibles, gross 129,446 126,747 Less accumulated amortization (125,323 ) (123,171 ) Total acquisition-related intangibles, net $ 4,123 $ 3,576 |
Schedule of expected annual amortization expense for acquisition-related intangibles | Based on the carrying value of acquisition-related intangibles recorded as of March 31, 2018 , 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) 2019 $ 1,253 2020 1,160 2021 1,137 2022 573 Total $ 4,123 |
Executive Transition Costs (Tab
Executive Transition Costs (Tables) | 12 Months Ended |
Mar. 31, 2018 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Related Costs | The following table summarizes the transition costs accrual activity for fiscal 2018: Executive Transition Costs (In thousands) Employee severance and benefits Total executive transition costs $ 33,351 Cash payments (6,306 ) Non-cash charges (16,621 ) Balance as of March 31, 2018 $ 10,424 |
Nature of Operations (Details)
Nature of Operations (Details) | 12 Months Ended |
Mar. 31, 2018 | |
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 Accoun47
Summary of Significant Accounting Policies and Concentrations of Risk (Investments) (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Apr. 01, 2017 |
Schedule of Available-for-sale Securities [Line Items] | ||
Long-term investments | $ 97,896 | $ 116,288 |
Summary of Significant Accoun48
Summary of Significant Accounting Policies and Concentrations of Risk (Inventory) (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Apr. 01, 2017 |
Inventory Disclosure [Abstract] | ||
Raw materials | $ 14,674 | $ 14,517 |
Work-in-process | 167,039 | 161,120 |
Finished goods | 54,364 | 51,396 |
Total inventories | $ 236,077 | $ 227,033 |
Summary of Significant Accoun49
Summary of Significant Accounting Policies and Concentrations of Risk (PPE) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation | $ 46,438 | $ 45,423 | $ 50,828 |
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 Accoun50
Summary of Significant Accounting Policies and Concentrations of Risk (Concentrations) (Details) - Customer | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Concentration Risk [Line Items] | |||
Percentage of total accounts receivable accounted from Avnet | 60.00% | 59.00% | |
Percentage of net revenues through resale of product from Avnet | 43.00% | 44.00% | 50.00% |
Number of end customers accounted for net revenues | 0 | 0 | 0 |
Percentage of mortgage-backed securities in total investment portfolio | 24.00% | ||
Minimum [Member] | |||
Concentration Risk [Line Items] | |||
Percentage of higher grade securities investment in debt securities (more than) | 91.00% | ||
Sales Revenue, Goods, Net [Member] | Support Products [Member] | Maximum [Member] | |||
Concentration Risk [Line Items] | |||
Concentration Risk, Percentage | 5.00% |
Summary of Significant Accoun51
Summary of Significant Accounting Policies and Concentrations of Risk (Other) (Details) | 12 Months Ended | ||
Mar. 31, 2018USD ($)Customer | Apr. 01, 2017USD ($)Customer | Apr. 02, 2016USD ($)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 | 53.00% | ||
Deferred revenue | $ 31,800,000 | 74,200,000 | |
Net deferred cost of revenues | 6,600,000 | 19,600,000 | |
Deferred income on shipments to distributors | $ 25,166,000 | $ 54,567,000 | |
Number Of End Customers Accounted For Net Revenues | Customer | 0 | 0 | 0 |
Excess benefits from stock-based compensation | $ 21,520,000 | $ 15,396,000 | $ 0 |
Unrealized gain (loss) in investments to be reclassified | $ 11,000,000 |
Summary of Significant Accoun52
Summary of Significant Accounting Policies and Concentrations of Risk (New Accounting Policies) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Mar. 31, 2018 | Dec. 30, 2017 | [1] | Sep. 30, 2017 | [1] | Jul. 01, 2017 | [1] | Apr. 01, 2017 | Dec. 31, 2016 | [2] | Oct. 01, 2016 | [2] | Jul. 02, 2016 | [2] | Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |||
Disaggregation of Revenue [Line Items] | |||||||||||||||||||
Reclassification of stranded tax effects | $ 0 | $ 0 | |||||||||||||||||
Net revenues | 672,862 | [1] | $ 631,193 | $ 619,503 | $ 615,446 | $ 609,452 | [2] | $ 585,688 | $ 579,209 | $ 574,981 | 2,539,004 | $ 2,349,330 | $ 2,213,881 | ||||||
Cost of revenues | 756,368 | 708,216 | 671,907 | ||||||||||||||||
Gross margin | 475,531 | [1] | 449,037 | 434,717 | 423,351 | 423,641 | [2] | 407,455 | 403,334 | 406,684 | 1,782,636 | 1,641,114 | 1,541,974 | ||||||
Operating income | 745,054 | 699,394 | 669,881 | ||||||||||||||||
Net income | $ 165,659 | [1] | $ 11,945 | $ 167,532 | $ 167,245 | $ 153,425 | [2] | $ 141,846 | $ 164,192 | $ 163,049 | $ 512,381 | $ 622,512 | $ 550,867 | ||||||
Basic (in dollars per share) | $ 0.65 | [1],[3] | $ 0.05 | [3] | $ 0.68 | [3] | $ 0.67 | [3] | $ 0.62 | [2],[3] | $ 0.57 | [3] | $ 0.65 | [3] | $ 0.64 | [3] | $ 2.05 | $ 2.47 | $ 2.14 |
Diluted (in dollars per share) | $ 0.64 | [1],[3] | $ 0.05 | [3] | $ 0.65 | [3] | $ 0.63 | [3] | $ 0.57 | [2],[3] | $ 0.52 | [3] | $ 0.61 | [3] | $ 0.61 | [3] | $ 1.99 | $ 2.32 | $ 2.05 |
Accounts receivable | $ 372,144 | $ 243,915 | $ 372,144 | $ 243,915 | |||||||||||||||
Other assets | 342,644 | 275,440 | 342,644 | 275,440 | |||||||||||||||
Deferred income on shipments to distributors | 25,166 | 54,567 | 25,166 | 54,567 | |||||||||||||||
Other accrued liabilities | 59,772 | 95,098 | 59,772 | 95,098 | |||||||||||||||
Deferred tax liabilities | 75 | 317,639 | 75 | 317,639 | |||||||||||||||
Retained earnings | 1,483,538 | 1,726,312 | 1,483,538 | 1,726,312 | |||||||||||||||
As Adjusted [Member] | |||||||||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||||||||
Net revenues | 2,467,023 | 2,356,742 | |||||||||||||||||
Cost of revenues | 743,419 | 708,632 | |||||||||||||||||
Gross margin | 1,723,604 | 1,648,110 | |||||||||||||||||
Operating income | 686,022 | 706,390 | |||||||||||||||||
Net income | $ 463,981 | $ 628,133 | |||||||||||||||||
Basic (in dollars per share) | $ 1.86 | $ 2.49 | |||||||||||||||||
Diluted (in dollars per share) | $ 1.80 | $ 2.34 | |||||||||||||||||
Accounts receivable | 382,246 | 283,850 | $ 382,246 | $ 283,850 | |||||||||||||||
Other assets | 337,402 | 272,407 | 337,402 | 272,407 | |||||||||||||||
Deferred income on shipments to distributors | 0 | 0 | 0 | 0 | |||||||||||||||
Other accrued liabilities | 59,680 | 95,209 | 59,680 | 95,209 | |||||||||||||||
Deferred tax liabilities | 75 | 330,479 | 75 | 330,479 | |||||||||||||||
Retained earnings | 1,513,656 | $ 1,804,830 | 1,513,656 | 1,804,830 | |||||||||||||||
Retained Earnings [Member] | |||||||||||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||||||||||
Reclassification of stranded tax effects | $ 5,203 | 5,203 | |||||||||||||||||
Net income | $ 512,381 | $ 622,512 | $ 550,867 | ||||||||||||||||
[1] | Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2018 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 2017 was a 53-week year and each quarter was a 13-week quarter except the third quarter, which was a 14-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. |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | Mar. 31, 2018 | Apr. 01, 2017 |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | $ 3,476,786 | $ 3,366,594 |
Derivative financial instruments, net | 26,091 | |
Total liabilities measured at fair value | 26,091 | |
Net assets measured at fair value | 3,450,695 | |
Derivative Financial Instruments, Assets [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 1,661 | |
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 | 1,291,891 | 298,307 |
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 | 359,901 | 158,962 |
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 | 242,904 | 205,322 |
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 | 35,995 | 53,982 |
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 | 179,957 | 177,310 |
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 | 189,835 |
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 | 81,939 | 203,938 |
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 | 22,647 | 76,552 |
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 | 144,811 | |
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 | 844,397 | 1,115,403 |
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 | 91,389 | 218,170 |
Short-Term Investments [Member] | Commercial Mortgage Backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 152,870 | 217,971 |
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 | 34,068 | |
Short-Term Investments [Member] | Bank Loans [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 154,014 | |
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 | 60,099 | |
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 | 8,226 | 1,581 |
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 | 89,670 | 54,608 |
Fair Value, Inputs, Level 1 [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 1,304,752 | 333,037 |
Derivative financial instruments, net | 0 | |
Total liabilities measured at fair value | 0 | |
Net assets measured at fair value | 1,304,752 | |
Fair Value, Inputs, Level 1 [Member] | Derivative Financial Instruments, Assets [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | |
Fair Value, Inputs, Level 1 [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 | 1,291,891 | 298,307 |
Fair Value, Inputs, Level 1 [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 | 0 | 0 |
Fair Value, Inputs, Level 1 [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 | 0 | 0 |
Fair Value, Inputs, Level 1 [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 | 996 | 2,998 |
Fair Value, Inputs, Level 1 [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 | 0 | 0 |
Fair Value, Inputs, Level 1 [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 | 0 | 0 |
Fair Value, Inputs, Level 1 [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 | 0 | 0 |
Fair Value, Inputs, Level 1 [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 | 3,639 | 31,732 |
Fair Value, Inputs, Level 1 [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 | 0 | |
Fair Value, Inputs, Level 1 [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 | 0 | 0 |
Fair Value, Inputs, Level 1 [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 | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Short-Term Investments [Member] | Commercial 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, Inputs, Level 1 [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 | 0 | |
Fair Value, Inputs, Level 1 [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 | 0 | |
Fair Value, Inputs, Level 1 [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 | 0 | |
Fair Value, Inputs, Level 1 [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 | 8,226 | 0 |
Fair Value, Inputs, Level 1 [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 | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 2,172,034 | 3,033,557 |
Derivative financial instruments, net | 26,091 | |
Total liabilities measured at fair value | 26,091 | |
Net assets measured at fair value | 2,145,943 | |
Fair Value, Inputs, Level 2 [Member] | Derivative Financial Instruments, Assets [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 1,661 | |
Fair Value, Inputs, Level 2 [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 | 0 | 0 |
Fair Value, Inputs, Level 2 [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 | 359,901 | 158,962 |
Fair Value, Inputs, Level 2 [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 | 242,904 | 205,322 |
Fair Value, Inputs, Level 2 [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 | 34,999 | 50,984 |
Fair Value, Inputs, Level 2 [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 | 179,957 | 177,310 |
Fair Value, Inputs, Level 2 [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 | 189,835 |
Fair Value, Inputs, Level 2 [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 | 81,939 | 203,938 |
Fair Value, Inputs, Level 2 [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 | 19,008 | 44,820 |
Fair Value, Inputs, Level 2 [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 | 144,811 | |
Fair Value, Inputs, Level 2 [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 | 844,397 | 1,115,403 |
Fair Value, Inputs, Level 2 [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 | 91,389 | 218,170 |
Fair Value, Inputs, Level 2 [Member] | Short-Term Investments [Member] | Commercial Mortgage Backed Securities [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 152,870 | 217,971 |
Fair Value, Inputs, Level 2 [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 | 34,068 | |
Fair Value, Inputs, Level 2 [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 | 154,014 | |
Fair Value, Inputs, Level 2 [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 | 60,099 | |
Fair Value, Inputs, Level 2 [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 | 0 | 1,581 |
Fair Value, Inputs, Level 2 [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 | 89,670 | 54,608 |
Fair Value, Inputs, Level 3 [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | 0 |
Derivative financial instruments, net | 0 | |
Total liabilities measured at fair value | 0 | |
Net assets measured at fair value | 0 | |
Fair Value, Inputs, Level 3 [Member] | Derivative Financial Instruments, Assets [Member] | ||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ||
Total assets measured at fair value | 0 | |
Fair Value, Inputs, Level 3 [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 | 0 | 0 |
Fair Value, Inputs, Level 3 [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 | 0 | 0 |
Fair Value, Inputs, Level 3 [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 | 0 | 0 |
Fair Value, Inputs, Level 3 [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 | 0 | 0 |
Fair Value, Inputs, Level 3 [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 | 0 | 0 |
Fair Value, Inputs, Level 3 [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 | 0 | 0 |
Fair Value, Inputs, Level 3 [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 | 0 | 0 |
Fair Value, Inputs, Level 3 [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 | 0 | 0 |
Fair Value, Inputs, Level 3 [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 | 0 | |
Fair Value, Inputs, Level 3 [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 | 0 | 0 |
Fair Value, Inputs, Level 3 [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 | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Short-Term Investments [Member] | Commercial 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, Inputs, Level 3 [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 | 0 | |
Fair Value, Inputs, Level 3 [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 | 0 | |
Fair Value, Inputs, Level 3 [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 | 0 | |
Fair Value, Inputs, Level 3 [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 | 0 | 0 |
Fair Value, Inputs, Level 3 [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 | $ 0 | $ 0 |
Fair Value Measurements (Deta54
Fair Value Measurements (Details 1) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2018 | Apr. 01, 2017 | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Balance as of beginning of period | $ 0 | $ 9,977 |
Gains (losses) included in other comprehensive income (loss) | 0 | 523 |
Sales and settlements, net | 0 | (10,500) |
Balance as of end of period | $ 0 | $ 0 |
Fair Value Measurements (Deta55
Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2018 | Apr. 01, 2017 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Non-marketable equity securities in private companies | $ 36,700 | |
2019 Notes Payable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt, principal amount | $ 500,000 | |
Stated interest rate | 2.125% | |
2019 Notes Payable [Member] | Convertible Debt [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of debentures | $ 496,600 | |
2021 Notes Payable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt, principal amount | $ 500,000 | |
Stated interest rate | 3.00% | |
2021 Notes Payable [Member] | Senior Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of debentures | $ 498,900 | |
2024 Notes Payable [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt, principal amount | $ 750,000 | |
Stated interest rate | 2.95% | |
2024 Notes Payable [Member] | Senior Notes [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Fair value of debentures | $ 719,700 | |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | 3,476,786 | $ 3,366,594 |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total assets measured at fair value | $ 0 | $ 0 |
Financial Instruments (Details)
Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Apr. 01, 2017 |
Available-for-sale securities | ||
Amortized Cost | $ 3,515,826 | $ 3,392,034 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 1,404 | 5,571 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | (40,444) | (32,672) |
Estimated Fair Value | 3,476,786 | 3,364,933 |
Marketable equity securities [Member] | ||
Available-for-sale securities | ||
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 726 | 0 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | 0 | 0 |
Equity securities, Amortized Cost | 7,500 | 0 |
Equity securities, Estimated Fair Value | 8,226 | 0 |
Money Market Funds [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 1,291,891 | 298,307 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | 0 | 0 |
Estimated Fair Value | 1,291,891 | 298,307 |
Financial institution securities [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 434,901 | 348,797 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | 0 | 0 |
Estimated Fair Value | 434,901 | 348,797 |
Non-financial institution securities [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 326,219 | 409,109 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 0 | 647 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | (1,376) | (496) |
Estimated Fair Value | 324,843 | 409,260 |
U.S. Government and Agency Securities [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 58,913 | 130,749 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 1 | 8 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | (272) | (223) |
Estimated Fair Value | 58,642 | 130,534 |
Foreign Government and Agency Securities [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 179,957 | 322,172 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | 0 | (51) |
Estimated Fair Value | 179,957 | 322,121 |
Mortgage-Backed Securities [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 866,048 | 1,186,732 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 660 | 3,527 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | (22,311) | (14,757) |
Estimated Fair Value | 844,397 | 1,175,502 |
Asset-backed Securities [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 92,751 | 220,033 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 16 | 404 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | (1,378) | (686) |
Estimated Fair Value | 91,389 | 219,751 |
Debt Mutual Fund [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 101,350 | 101,350 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 0 | 0 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | (11,680) | (12,674) |
Estimated Fair Value | 89,670 | 88,676 |
Bank Loans [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 0 | 153,281 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 0 | 839 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | 0 | (106) |
Estimated Fair Value | 0 | 154,014 |
Commercial Mortgage Backed Securities [Member] | ||
Available-for-sale securities | ||
Amortized Cost | 156,296 | 221,504 |
Available-for-sale Securities, Gross Unrealized Gains (Instant) | 1 | 146 |
Available-for-sale Securities, Gross Unrealized Losses (Instant) | (3,427) | (3,679) |
Estimated Fair Value | $ 152,870 | $ 217,971 |
Financial Instruments (Details
Financial Instruments (Details 1) - USD ($) $ in Thousands | Mar. 31, 2018 | Apr. 01, 2017 |
Fair values and gross unrealized losses of the investments | ||
Available-for-Sale Securities, Less Than 12 Months, Fair Value | $ 746,802 | $ 1,310,037 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (15,006) | (15,101) |
Available-for-Sale Securities, 12 Months or Greater, Fair Value | 495,600 | 258,680 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (25,438) | (17,571) |
Available-for-Sale Securities, Fair Value, Total | 1,242,402 | 1,568,717 |
Available-for-Sale Securities, Gross Unrealized Losses, Total | (40,444) | (32,672) |
Non-financial institution securities [Member] | ||
Fair values and gross unrealized losses of the investments | ||
Available-for-Sale Securities, Less Than 12 Months, Fair Value | 69,780 | 68,850 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1,146) | (492) |
Available-for-Sale Securities, 12 Months or Greater, Fair Value | 8,344 | 1,022 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (230) | (4) |
Available-for-Sale Securities, Fair Value, Total | 78,124 | 69,872 |
Available-for-Sale Securities, Gross Unrealized Losses, Total | (1,376) | (496) |
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 | 13,471 | 64,895 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (176) | (223) |
Available-for-Sale Securities, 12 Months or Greater, Fair Value | 9,176 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (96) | 0 |
Available-for-Sale Securities, Fair Value, Total | 22,647 | 64,895 |
Available-for-Sale Securities, Gross Unrealized Losses, Total | (272) | (223) |
Mortgage-Backed Securities [Member] | ||
Fair values and gross unrealized losses of the investments | ||
Available-for-Sale Securities, Less Than 12 Months, Fair Value | 510,988 | 811,058 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (11,048) | (11,872) |
Available-for-Sale Securities, 12 Months or Greater, Fair Value | 299,663 | 139,931 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (11,263) | (2,885) |
Available-for-Sale Securities, Fair Value, Total | 810,651 | 950,989 |
Available-for-Sale Securities, Gross Unrealized Losses, Total | (22,311) | (14,757) |
Asset-backed Securities [Member] | ||
Fair values and gross unrealized losses of the investments | ||
Available-for-Sale Securities, Less Than 12 Months, Fair Value | 57,128 | 119,845 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (876) | (651) |
Available-for-Sale Securities, 12 Months or Greater, Fair Value | 32,696 | 4,689 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (502) | (35) |
Available-for-Sale Securities, Fair Value, Total | 89,824 | 124,534 |
Available-for-Sale Securities, Gross Unrealized Losses, Total | (1,378) | (686) |
Debt Mutual Fund [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 | 89,670 | 88,676 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (11,680) | (12,674) |
Available-for-Sale Securities, Fair Value, Total | 89,670 | 88,676 |
Available-for-Sale Securities, Gross Unrealized Losses, Total | (11,680) | (12,674) |
Bank Loans [Member] | ||
Fair values and gross unrealized losses of the investments | ||
Available-for-Sale Securities, Less Than 12 Months, Fair Value | 15,139 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (106) | |
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 | 15,139 | |
Available-for-Sale Securities, Gross Unrealized Losses, Total | (106) | |
Foreign Government Debt Securities [Member] | ||
Fair values and gross unrealized losses of the investments | ||
Available-for-Sale Securities, Less Than 12 Months, Fair Value | 64,857 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (51) | |
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 | 64,857 | |
Available-for-Sale Securities, Gross Unrealized Losses, Total | (51) | |
Commercial Mortgage Backed Securities [Member] | ||
Fair values and gross unrealized losses of the investments | ||
Available-for-Sale Securities, Less Than 12 Months, Fair Value | 95,435 | 165,393 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | (1,760) | (1,706) |
Available-for-Sale Securities, 12 Months or Greater, Fair Value | 56,051 | 24,362 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | (1,667) | (1,973) |
Available-for-Sale Securities, Fair Value, Total | 151,486 | 189,755 |
Available-for-Sale Securities, Gross Unrealized Losses, Total | $ (3,427) | $ (3,679) |
Financial Instruments (Detail58
Financial Instruments (Details 2) $ in Thousands | Mar. 31, 2018USD ($) |
Investments, All Other Investments [Abstract] | |
Marketable debt securities with contractual maturities greater than one year but classified as short-term investment | $ 1,160,000 |
Amortized cost and estimated fair value of marketable debt securities | |
Amortized Cost Due in one year or less | 926,730 |
Amortized Cost Due after one year through five years | 196,341 |
Amortized Cost Due after five years through ten years | 150,139 |
Amortized Cost Due after ten years | 841,875 |
Amortized Cost Total | 2,115,085 |
Estimated Fair Value Due in one year or less | 926,683 |
Estimated Fair Value Due after one year through five years | 192,880 |
Estimated Fair Value Due after five years through ten years | 146,302 |
Estimated Fair Value Due after ten years | 821,134 |
Estimated Fair Value Total | $ 2,086,999 |
Financial Instruments (Detail59
Financial Instruments (Details 3) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Information on sale of available-for-sale securities | |||
Available-for-sale Securities, Gross Realized Gains (Losses), Sale Proceeds | $ 1,161,410 | $ 695,030 | $ 268,887 |
Gross realized gains on sale of available-for-sale securities | 7,258 | 6,989 | 1,248 |
Gross realized losses on sale of available-for-sale securities | (7,947) | (3,457) | (878) |
Net realized gains (losses) on sale of available-for-sale securities | (689) | 3,532 | 370 |
Amortization of premiums on available-for-sale securities | $ 24,569 | $ 29,360 | $ 26,613 |
Derivative Financial Instrume60
Derivative Financial Instruments (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Apr. 01, 2017 |
Derivative [Line Items] | ||
Derivative Asset, Notional Amount | $ 146,647 | $ 86,256 |
Singapore Dollar [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Notional Amount | 24,914 | 22,012 |
Euro [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Notional Amount | 38,987 | 18,553 |
Indian Rupee [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Notional Amount | 62,472 | 31,121 |
British Pound [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Notional Amount | 8,155 | 10,813 |
Japanese Yen [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Notional Amount | 3,859 | 3,757 |
Chinese Yuan [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Notional Amount | $ 8,260 | $ 0 |
Derivative Financial Instrume61
Derivative Financial Instruments (Details 1) - USD ($) $ in Thousands | Mar. 31, 2018 | Apr. 01, 2017 |
Prepaid expenses and other current assets | ||
Derivative Instruments located on Condensed Consolidated Balance sheet | ||
Asset Derivatives, Fair Value | $ 2,922 | $ 2,424 |
Other accrued liabilities | ||
Derivative Instruments located on Condensed Consolidated Balance sheet | ||
Liability Derivatives, Fair Value | $ 12 | $ 763 |
Derivative Financial Instrume62
Derivative Financial Instruments (Details 2) - Cash Flow Hedging [Member] - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | ||
Foreign Exchange Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount of gains recognized in other comprehensive income on derivative (effective portion of cash flow hedging) | $ 862 | $ 405 | |
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) | [1] | 4,655 | (1,701) |
Amount of gains (losses) recorded (ineffective portion) | [1] | $ (14) | $ 31 |
[1] | Recorded in interest and other expense, net within the consolidated statements of income. |
Derivative Financial Instrume63
Derivative Financial Instruments (Details Textual) $ in Millions | 12 Months Ended |
Mar. 31, 2018USD ($) | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative liability on interest rate swap contacts | $ 29 |
Hedging Program number of years | 2 years |
Stock-Based Compensation Plan64
Stock-Based Compensation Plans (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Stock Based compensation expense | |||
Stock-based compensation effect on income before taxes | $ 153,815 | $ 122,858 | $ 111,984 |
Income tax effect | (40,188) | (37,752) | (34,119) |
Net stock-based compensation effect on net income | 113,627 | 85,106 | 77,865 |
Cost of Revenues [Member] | |||
Stock Based compensation expense | |||
Stock-based compensation effect on income before taxes | 8,492 | 8,014 | 7,977 |
Research and Development [Member] | |||
Stock Based compensation expense | |||
Stock-based compensation effect on income before taxes | 76,790 | 66,822 | 59,692 |
Selling, General and Administrative Expenses [Member] | |||
Stock Based compensation expense | |||
Stock-based compensation effect on income before taxes | 51,912 | 48,022 | 44,315 |
Restructuring Charges [Member] | |||
Stock Based compensation expense | |||
Stock-based compensation effect on income before taxes | $ 16,621 | $ 0 | $ 0 |
Stock-Based Compensation Plan65
Stock-Based Compensation Plans (Details 1) | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
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 | 29.00% | 24.00% | 26.00% |
Risk-free interest rate | 1.59% | 0.70% | 0.50% |
Dividend yield | 2.07% | 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 | 1.79% | 0.90% | 1.30% |
Dividend yield | 2.18% | 2.80% | 2.80% |
Stock-Based Compensation Plan66
Stock-Based Compensation Plans (Details 2) - 2007 Equity Plan [Member] - shares shares in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | 1,900 | 2,500 | |
Shares Available for Grant Under Option Plan [Roll Forward] | |||
Shares Available for Grant, Beginning Balance | 12,459 | 12,946 | 15,373 |
Shares Available for Grant, Stock options cancelled | 1 | 10 | |
Shares Available for Grant, RSUs granted | (3,718) | (3,398) | (3,088) |
Shares Available for Grant, RSUs cancelled | 701 | 410 | 651 |
Shares Available for Grant, Ending Balance | 11,342 | 12,459 | 12,946 |
Stock-Based Compensation Plan67
Stock-Based Compensation Plans (Details 3) - Restricted Stock Units (RSUs) [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | ||
Summary of restricted stock unit activity and related information | ||||
Number of Shares, Beginning balance | 6,988 | 6,619 | 6,873 | |
Number of Shares, Granted | 3,718 | 3,398 | 3,088 | |
Number of Shares, Vested | [1] | (3,016) | (2,619) | (2,691) |
Number of Shares, Cancelled | (701) | (410) | (651) | |
Number of Shares, Ending balance | 6,989 | 6,988 | 6,619 | |
Number of Shares, Expected to vest | 5,585 | |||
Weighted-Average Grant-Date Fair Value Per Share, Beginning balance (in dollars per share) | $ 42.93 | $ 40.74 | $ 39.07 | |
Weighted-Average Grant-Date Fair Value Per Share, Granted (in dollars per share) | 60.18 | 44.38 | 41.19 | |
Weighted-Average Grant-Date Fair Value Per Share, Vested (in dollars per share) | [1] | 43.30 | 39.49 | 37.23 |
Weighted-Average Grant-Date Fair Value Per Share, Cancelled (in dollars per share) | 48.16 | 41.63 | 39.77 | |
Weighted-Average Grant-Date Fair Value Per Share, Ending balance (in dollars per share) | 51.39 | $ 42.93 | $ 40.74 | |
Weighted-Average Grant-Date Fair Value Per Share, Expected to vest (in dollars per share) | $ 51.46 | |||
Weighted Average Remaining Contractual Term (in years) | 2 years 4 months 13 days | |||
Weighted Average Remaining Contractual Term, Expected to vest (in years) | 2 years 4 months 10 days | |||
Aggregate Intrinsic Value | [2] | $ 504,733 | ||
Aggregate Intrinsic Value, Expected to vest | [2] | $ 403,490 | ||
[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 31, 2018 of $72.24, multiplied by the number of RSUs outstanding or expected to vest as of March 31, 2018. |
Stock-Based Compensation Plan68
Stock-Based Compensation Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | Mar. 28, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Employee Service Share-based Compensation, Tax Deduction from Compensation Expense | $ 60,600 | $ 53,300 | $ 56,300 | |
Award vesting period | 4 years | |||
Share Price | $ 72.24 | |||
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 0 | 0 | |
Pre-tax intrinsic value of options exercised in period | $ 4,100 | $ 28,000 | ||
Employee Stock Purchase Plan [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 | $ 17.95 | $ 13 | $ 11.12 | |
Nonvested awards, stock-based compensation cost not yet recognized | $ 13,900 | |||
Nonvested awards, stock-based compensation cost not yet recognized, weighted-average recognition period | 9 months 18 days | |||
Shares available for grant | 9,300,000 | |||
Stock offering period | 24 months | |||
Stock Purchase Plan, Exercise period | 6 months | |||
Employee Stock Purchase Plan annual earnings Maximum | $ 21 | |||
Percentage of Employee Stock Purchase Plan participation | 86.00% | |||
Percentage Of Employee Stock Purchase plan Lower Fair Market Value | 85.00% | |||
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 900,000 | 1,200,000 | 1,100,000 | |
Stock Issued During Period, Value, Employee Stock Purchase Plan | $ 44,300 | $ 39,500 | $ 37,600 | |
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 | $ 60.18 | $ 44.38 | $ 41.19 | |
Nonvested awards, stock-based compensation cost not yet recognized | $ 239,100 | |||
Nonvested awards, stock-based compensation cost not yet recognized, weighted-average recognition period | 2 years 7 months 28 days | |||
Fair value of restricted stock units vested during the period | $ 130,600 | |||
2007 Equity Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based compensation capitalized in inventory | $ 2,100 | $ 2,200 | ||
Shares available for grant | 11,342,000 | 12,459,000 | 12,946,000 | 15,373,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 7 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 Payab
Balance Sheet Information Payables and Accruals (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Apr. 01, 2017 |
Payables and Accruals [Abstract] | ||
Accrued Salaries | $ 95,316 | $ 81,701 |
Deferred Compensation Liability, Current | 103,434 | 88,110 |
Other Employee-related Liabilities, Current | 7,617 | 6,790 |
Employee-related Liabilities, Current | 206,367 | 176,601 |
Interest Payable | 14,169 | 4,492 |
Unsettled Investment Transactions | 5,860 | 62,199 |
Other Liabilities | 39,743 | 28,407 |
Other Accrued Liabilities | $ 59,772 | $ 95,098 |
Commitments (Details)
Commitments (Details) $ in Thousands | Mar. 31, 2018USD ($) |
Future Minimum Lease Payments Under Non-Cancelable Operating Leases | |
2,018 | $ 8,898 |
2,019 | 9,427 |
2,020 | 7,009 |
2,021 | 5,676 |
2,022 | 4,788 |
Thereafter | 31,757 |
Total | $ 67,555 |
Commitments (Details Textual)
Commitments (Details Textual) - USD ($) $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Loss Contingencies [Line Items] | |||
Aggregate future rental income to be received | $ 9.3 | ||
Rent expense, net of rental income | 3.9 | $ 5 | $ 4.5 |
Other commitments | $ 157.8 | ||
Software and Maintenance License Obligations Expiration Date | Dec. 31, 2022 | ||
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 | ||
Lease Agreements [Member] | |||
Loss Contingencies [Line Items] | |||
Lease Expiration Date | Apr. 30, 2029 | ||
Capital Lease Obligations [Member] | |||
Loss Contingencies [Line Items] | |||
Lease Expiration Date | Nov. 30, 2035 | ||
Electronic Design Automation Software And Hardware/Software Maintenance [Member] | |||
Loss Contingencies [Line Items] | |||
Non-cancelable license obligations | $ 26.2 | ||
Open purchase Orders From Ordinary Operations [Member] | |||
Loss Contingencies [Line Items] | |||
Non-cancelable license obligations | $ 28.9 |
Net Income Per Common Share (De
Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Mar. 31, 2018 | [1] | Dec. 30, 2017 | [1] | Sep. 30, 2017 | [1] | Jul. 01, 2017 | [1] | Apr. 01, 2017 | [2] | Dec. 31, 2016 | [2] | Oct. 01, 2016 | [2] | Jul. 02, 2016 | [2] | Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Earnings Per Share [Abstract] | |||||||||||||||||||
Net income | $ 165,659 | $ 11,945 | $ 167,532 | $ 167,245 | $ 153,425 | $ 141,846 | $ 164,192 | $ 163,049 | $ 512,381 | $ 622,512 | $ 550,867 | ||||||||
Weighted Average Number of Shares Outstanding, Basic | 254,559 | 254,089 | 248,094 | 247,911 | 249,014 | 250,982 | 253,466 | 252,901 | 249,595 | 252,301 | 257,184 | ||||||||
Dilutive effect of employee equity incentive plans | 2,754 | 2,284 | 2,260 | ||||||||||||||||
Dilutive effect of 2017 Convertible Notes and warrants | 5,611 | 14,228 | 9,223 | ||||||||||||||||
Weighted average common shares outstanding-diluted | 257,916 | 258,108 | 258,217 | 265,797 | 267,157 | 270,781 | 270,373 | 266,206 | 257,960 | 268,813 | 268,667 | ||||||||
Basic (in dollars per share) | $ 0.65 | [3] | $ 0.05 | [3] | $ 0.68 | [3] | $ 0.67 | [3] | $ 0.62 | [3] | $ 0.57 | [3] | $ 0.65 | [3] | $ 0.64 | [3] | $ 2.05 | $ 2.47 | $ 2.14 |
Diluted (in dollars per share) | $ 0.64 | [3] | $ 0.05 | [3] | $ 0.65 | [3] | $ 0.63 | [3] | $ 0.57 | [3] | $ 0.52 | [3] | $ 0.61 | [3] | $ 0.61 | [3] | $ 1.99 | $ 2.32 | $ 2.05 |
[1] | Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2018 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 2017 was a 53-week year and each quarter was a 13-week quarter except the third quarter, which was a 14-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 Net
Net Income Per Common Share Net Income Per Common Share (Details Textual) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Short-term Debt [Line Items] | |||
Dilutive impact from warrants before the settlement | 4.1 | ||
Antidilutive shares excluded from computation of dilutive net income per common share | 3.7 | 2.6 | 4.6 |
2017 Convertible Notes | |||
Short-term Debt [Line Items] | |||
Debt, principal amount | $ 600 | ||
Stated interest rate | 2.625% | ||
Dilutive effect of convertible debt (in shares) | $ 1.5 |
Interest and Other Expense, N74
Interest and Other Expense, Net (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Components of interest and other expense | |||
Interest income | $ 58,604 | $ 51,121 | $ 40,180 |
Interest expense | (45,837) | (53,953) | (55,456) |
Other income (expense), net | (7,410) | (5,482) | (17,780) |
Interest and other expense, net | $ 5,357 | $ (8,314) | $ (33,056) |
Accumulated Other Comprehensi75
Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands | Mar. 31, 2018 | Apr. 01, 2017 |
Components of accumulated other comprehensive income (loss) | ||
Accumulated unrealized losses on available-for-sale securities, net of tax | $ (29,844) | $ (17,091) |
Accumulated unrealized gain (losses) on hedging transactions, net of tax | 1,674 | 661 |
Accumulated cumulative translation adjustment, net of tax | (6,339) | (8,251) |
Accumulated other comprehensive loss | $ (34,509) | $ (24,681) |
Debt and Credit Facility (Detai
Debt and Credit Facility (Details) - USD ($) | 12 Months Ended | |||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | Jul. 01, 2017 | |
Long Term Debt [Line Items] | ||||
New carrying value | $ 996,882,000 | $ 995,247,000 | ||
Amortization of debt discount | 2,548,000 | 11,692,000 | $ 12,048,000 | |
Line of Credit Facility, Maximum Borrowing Capacity | 400,000,000 | |||
Additional borrowing capacity from Revolving Credit Facility | $ 150,000,000 | |||
Line of Credit Facility, Expiration Date | Dec. 31, 2021 | |||
Line of Credit Facility, Average Outstanding Amount | $ 0 | |||
2019 and 2021 Notes Payable [Member] | ||||
Long Term Debt [Line Items] | ||||
Contractual coupon interest (net of interest rate swap) | 25,625,000 | 25,625,000 | 25,625,000 | |
Amortization of debt issuance costs | 586,000 | 586,000 | 586,000 | |
Amortization of debt discount | 1,049,000 | 1,022,000 | 995,000 | |
Total interest expense related to the 2024 Notes | 27,260,000 | 27,233,000 | 27,206,000 | |
2019 Notes Payable [Member] | ||||
Long Term Debt [Line Items] | ||||
Debt Instrument, Face Amount | 500,000,000 | 500,000,000 | ||
Debt Instrument, Unamortized Discount | 501,000 | 1,037,000 | ||
Unamortized Debt Issuance Expense | (313,000) | (654,000) | ||
New carrying value | 499,186,000 | 498,309,000 | ||
2021 Notes Payable [Member] | ||||
Long Term Debt [Line Items] | ||||
Debt Instrument, Face Amount | 500,000,000 | 500,000,000 | ||
Debt Instrument, Unamortized Discount | 1,593,000 | 2,107,000 | ||
Unamortized Debt Issuance Expense | (711,000) | (955,000) | ||
New carrying value | 497,696,000 | 496,938,000 | ||
2017 Convertible Notes | ||||
Long Term Debt [Line Items] | ||||
Debt Instrument, Face Amount | 0 | 457,918,000 | $ 0 | |
Debt Instrument, Unamortized Discount | 0 | 1,977,000 | ||
Contractual coupon interest (net of interest rate swap) | 2,300,000 | 14,652,000 | 15,750,000 | |
Amortization of debt issuance costs | 184,000 | 1,398,000 | 1,448,000 | |
Amortization of debt discount | 1,406,000 | 10,670,000 | 11,052,000 | |
Total interest expense related to the 2024 Notes | $ 3,890,000 | $ 26,720,000 | $ 28,250,000 |
Debt and Credit Facility (Det77
Debt and Credit Facility (Details 1) - USD ($) shares in Thousands | 12 Months Ended | |||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | Jul. 01, 2017 | |
Short-term Debt [Line Items] | ||||
Amortization of debt discount | $ 2,548,000 | $ 11,692,000 | $ 12,048,000 | |
2017 Convertible Notes | ||||
Short-term Debt [Line Items] | ||||
Debt Instrument, Face Amount | 0 | 457,918,000 | $ 0 | |
Convertible Debt Payment Allocated to Liability | 142,900,000 | |||
Amount allocated to Equity Component for debt conversion | 149,100,000 | |||
Gain (Loss) on Extinguishment of Debt | 1,700,000 | |||
Debt Instrument, Unamortized Discount | 0 | 1,977,000 | ||
Hedge Accounting Adjustment - Sale Of Interest Rate Swap | 0 | 571,000 | ||
Deferred Finance Costs, Own-share Lending Arrangement, Issuance Costs, Net | 0 | (184,000) | ||
Debt Instrument Carrying Amount Of Liability Component | 0 | 456,328,000 | ||
Contractual coupon interest (net of interest rate swap) | 2,300,000 | 14,652,000 | 15,750,000 | |
Amortization of debt issuance costs | 184,000 | 1,398,000 | 1,448,000 | |
Amortization of debt discount | 1,406,000 | 10,670,000 | 11,052,000 | |
Interest Expense, Debt | 3,890,000 | 26,720,000 | $ 28,250,000 | |
Debt Instrument, Convertible, Carrying Amount of Equity Component | $ 0 | $ 50,688,000 | ||
Common Stock [Member] | ||||
Short-term Debt [Line Items] | ||||
Adjustments to Additional Paid in Capital, Warrant Issued, Shares | 9,174 |
Debt and Credit Facility (Det78
Debt and Credit Facility (Details 2) - USD ($) $ in Thousands | Mar. 31, 2018 | Apr. 01, 2017 |
Debt Instrument [Line Items] | ||
New carrying value | $ 1,214,440 | $ 995,247 |
2024 Notes Payable [Member] | ||
Debt Instrument [Line Items] | ||
Principal amount of the 2024 Notes | 750,000 | 0 |
Unamortized discount of the 2024 Notes | (755) | 0 |
Unamortized Debt Issuance Expense | 3,500 | 0 |
Carrying value of the 2024 Notes | 745,745 | 0 |
Fair value hedge adjustment - interest rate swap contracts | (29,001) | 0 |
New carrying value | $ 716,744 | $ 0 |
Debt and Credit Facility (Det79
Debt and Credit Facility (Details 3) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Debt Instrument [Line Items] | |||
Amortization of debt discount | $ 2,548 | $ 11,692 | $ 12,048 |
2024 Notes Payable [Member] | |||
Debt Instrument [Line Items] | |||
Contractual coupon interest (net of interest rate swap) | 14,122 | 0 | 0 |
Amortization of debt issuance costs | 473 | 0 | 0 |
Amortization of debt discount | 92 | 0 | 0 |
Total interest expense related to the 2024 Notes | $ 14,687 | $ 0 | $ 0 |
Debt and Credit Facility (Det80
Debt and Credit Facility (Details Textual) - USD ($) $ / shares in Units, shares in Millions | May 30, 2017 | Mar. 31, 2018 | Apr. 01, 2017 | Mar. 29, 2014 | Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | Jul. 01, 2017 | Mar. 12, 2014 |
Debt Instrument [Line Items] | |||||||||
Proceeds from issuance of long-term debts | $ 745,175,000 | $ 0 | $ 0 | ||||||
Net interest rate received (paid) from interest rate swap | $ 1,000,000 | 4,400,000 | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | 400,000,000 | 400,000,000 | |||||||
Additional borrowing capacity from Revolving Credit Facility | 150,000,000 | $ 150,000,000 | |||||||
Line of Credit Facility, Expiration Date | Dec. 31, 2021 | ||||||||
Line of Credit Facility, Average Outstanding Amount | $ 0 | ||||||||
2019 Notes Payable [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Face Amount | 500,000,000 | $ 500,000,000 | $ 500,000,000 | 500,000,000 | |||||
Discount Percent Of Par | 99.477% | ||||||||
Debt instrument, long term debt, remaining discount amortization period | 1 year | ||||||||
2021 Notes Payable [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Face Amount | 500,000,000 | 500,000,000 | $ 500,000,000 | 500,000,000 | |||||
Discount Percent Of Par | 99.281% | ||||||||
Debt instrument, long term debt, remaining discount amortization period | 3 years | ||||||||
2019 and 2021 Notes Payable [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Proceeds from issuance of long-term debts | $ 990,100,000 | ||||||||
2024 Notes Payable [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Face Amount | $ 750,000,000 | $ 0 | $ 750,000,000 | 0 | |||||
Discount Percent Of Par | 99.887% | ||||||||
Proceeds from issuance of long-term debts | $ 745,200,000 | ||||||||
Debt instrument, long term debt, remaining discount amortization period | 6 years 2 months 12 days | ||||||||
Stated interest rate | 2.95% | 2.95% | |||||||
2017 Convertible Notes | |||||||||
Debt Instrument [Line Items] | |||||||||
Extinguishment of Debt, Amount | $ 457,900,000 | $ 142,100,000 | |||||||
Debt Conversion, Converted Instrument, Shares Issued | 9 | 2.5 | |||||||
Stock Redeemed or Called During Period, Shares | 9 | 2.5 | |||||||
Debt Instrument, Convertible, Conversion Payment Allocated to Liability | $ 142,900,000 | ||||||||
Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt, Subsequent Adjustments | 149,100,000 | ||||||||
Gain (Loss) on Extinguishment of Debt | 1,700,000 | ||||||||
Debt Instrument, Face Amount | $ 0 | $ 457,918,000 | $ 0 | $ 457,918,000 | $ 0 | ||||
Warrants, number of shares the holders have the right to purchase | 21.1 | 21.1 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 40.26 | $ 40.26 | |||||||
Interest Rate Swap [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Interest Rate Derivative Liabilities, at Fair Value | $ 29,000,000 | $ 29,000,000 | |||||||
London Interbank Offered Rate (LIBOR) [Member] | 2024 Notes Payable [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt Instrument, Basis Spread on Variable Rate | 0.9143% |
Stockholders' Equity (Details)
Stockholders' Equity (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | May 16, 2016 | |
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 and Retired During Period, Value | $ 474,254 | $ 522,046 | $ 443,181 | |
Repurchase and retirement of common stock (in shares) | 7,000,000 | 9,900,000 | ||
Payments for Repurchase of Common Stock | $ 474,254 | $ 522,045 | $ 443,181 | |
Repurchase Program 2012 [Member] | ||||
Share Repurchases [Line Items] | ||||
Total amount available for future repurchases | 0 | |||
Repurchase Program 2016 [Member] | ||||
Share Repurchases [Line Items] | ||||
Amount authorized for common stock repurchase | $ 1,000,000 | |||
Stock Repurchase Program, Amount Used | 792,600 | |||
Total amount available for future repurchases | $ 207,400 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Federal: | |||
Current | $ 565,765 | $ (19,097) | $ 21,366 |
Deferred | (362,346) | 64,158 | 42,146 |
Federal income tax expense (benefit), Total | 203,419 | 45,061 | 63,512 |
State: | |||
Current | 2,520 | (938) | 2,447 |
Deferred | 8,304 | 3,093 | 1,781 |
State income tax expense (benefit), Total | 10,824 | 2,155 | 4,228 |
Foreign: | |||
Current | 23,772 | 21,121 | 18,016 |
Deferred | 15 | 231 | 202 |
Foreign income tax expense (benefit), Total | 23,787 | 21,352 | 18,218 |
Total | $ 238,030 | $ 68,568 | $ 85,958 |
Income Taxes (Details 1)
Income Taxes (Details 1) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Mar. 31, 2018 | [1],[2] | Dec. 30, 2017 | [2] | Sep. 30, 2017 | [2] | Jul. 01, 2017 | [2] | Apr. 01, 2017 | [3] | Dec. 31, 2016 | [3] | Oct. 01, 2016 | [3] | Jul. 02, 2016 | [3] | Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Income Tax Disclosure [Abstract] | |||||||||||||||||||
Domestic | $ 37,784 | $ 41,031 | $ 37,568 | ||||||||||||||||
Foreign | 712,627 | 650,049 | 599,257 | ||||||||||||||||
Income before income taxes | $ 185,984 | $ 195,169 | $ 187,000 | $ 182,259 | $ 171,220 | $ 162,580 | $ 175,662 | $ 181,618 | $ 750,411 | $ 691,080 | $ 636,825 | ||||||||
[1] | Income before income taxes for the fourth quarter of fiscal 2018 included executive transition costs of $33.4 million. | ||||||||||||||||||
[2] | Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2018 was a 52-week year and each quarter was a 13-week quarter. | ||||||||||||||||||
[3] | Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2017 was a 53-week year and each quarter was a 13-week quarter except the third quarter, which was a 14-week quarter. |
Income Taxes (Details 2)
Income Taxes (Details 2) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Mar. 31, 2018 | [1],[2] | Dec. 30, 2017 | [2] | Sep. 30, 2017 | [2] | Jul. 01, 2017 | [2] | Apr. 01, 2017 | [3] | Dec. 31, 2016 | [3] | Oct. 01, 2016 | [3] | Jul. 02, 2016 | [3] | Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Income Tax Disclosure [Abstract] | |||||||||||||||||||
Income before provision for taxes | $ 185,984 | $ 195,169 | $ 187,000 | $ 182,259 | $ 171,220 | $ 162,580 | $ 175,662 | $ 181,618 | $ 750,411 | $ 691,080 | $ 636,825 | ||||||||
Federal statutory tax rate | 31.50% | 35.00% | 35.00% | ||||||||||||||||
Computed expected tax | $ 236,668 | $ 241,878 | $ 222,889 | ||||||||||||||||
State taxes, net of federal benefit | 10,338 | 1,741 | 3,177 | ||||||||||||||||
Foreign earnings at lower tax rates | (199,960) | (119,616) | (112,942) | ||||||||||||||||
Tax credits | (19,708) | (34,146) | (25,211) | ||||||||||||||||
Transition tax | 208,523 | 0 | 0 | ||||||||||||||||
Deferred tax remeasurement | 25,148 | 0 | 0 | ||||||||||||||||
Excess benefits from stock-based compensation | 21,520 | 15,396 | 0 | ||||||||||||||||
Other | (1,459) | (5,893) | (1,955) | ||||||||||||||||
Total | $ 238,030 | $ 68,568 | $ 85,958 | ||||||||||||||||
[1] | Income before income taxes for the fourth quarter of fiscal 2018 included executive transition costs of $33.4 million. | ||||||||||||||||||
[2] | Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2018 was a 52-week year and each quarter was a 13-week quarter. | ||||||||||||||||||
[3] | Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2017 was a 53-week year and each quarter was a 13-week quarter except the third quarter, which was a 14-week quarter. |
Income Taxes (Details 3)
Income Taxes (Details 3) - USD ($) $ in Thousands | Mar. 31, 2018 | Apr. 01, 2017 |
Deferred tax assets: | ||
Stock-based compensation | $ 17,213 | $ 22,050 |
Deferred income on shipments to distributors | 2,019 | 8,167 |
Accrued expenses | 7,172 | 9,567 |
Tax credit carryforwards | 140,406 | 109,681 |
Deferred compensation plan | 24,121 | 32,518 |
Deferred Tax Assets, Investments | 5,836 | 8,163 |
Other | 15,337 | 17,628 |
Deferred tax assets, gross | 212,104 | 207,774 |
Valuation allowance | (101,383) | (72,520) |
Total deferred tax assets | 110,721 | 135,254 |
Deferred tax liabilities: | ||
Unremitted foreign earnings | (6,185) | (383,312) |
Convertible debt | 0 | (1,573) |
Other | (2,522) | (4,002) |
Deferred Tax Liabilities, Gross | (8,707) | (388,887) |
Deferred Tax Assets, Net | $ 102,014 | |
Deferred Tax Liabilities, Net | $ (253,633) |
Income Taxes (Details 4)
Income Taxes (Details 4) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2018 | Apr. 01, 2017 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Balance as of beginning of fiscal year | $ 30,437 | $ 33,999 |
Increases in tax positions for prior years | 90,716 | 0 |
Decreases in tax positions for prior years | (1,063) | (10,078) |
Increases in tax positions for current year | 5,158 | 6,556 |
Settlements | 0 | 0 |
Lapse in statute of limitations | (100) | (40) |
Balance as of end of fiscal year | $ 125,148 | $ 30,437 |
Income Taxes (Details Textual)
Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Income Tax Disclosure [Abstract] | ||||
Federal statutory tax rate | 31.50% | 35.00% | 35.00% | |
Transition tax | $ 208,500 | |||
Remeasurement tax expense | 25,100 | |||
Transition tax, gross | $ 11,300 | 590,200 | ||
Transition tax, decrease related to release of deferred tax liabilities | 381,700 | |||
Excess benefits from stock-based compensation | 21,520 | $ 15,396 | $ 0 | |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | 11,408 | |||
Increase in unrecognized tax benefits | 94,700 | |||
Gross unrecognized tax benefits balance | 125,148 | 125,148 | 30,437 | $ 33,999 |
Unrecognized tax benefits that would impact effective tax rate | 15,100 | 15,100 | 8,500 | |
Net operating loss carryforwards | 14,600 | $ 14,600 | ||
Net operating loss carryforwards, Expiration dates | Mar. 31, 2036 | |||
Long-term deferred tax assets | 102,100 | $ 102,100 | 64,400 | |
Deferred tax assets, valuation allowance | 101,383 | 101,383 | $ 72,520 | |
Unrecognized Tax Benefits That Would Impact Additional Paid-in Capital | $ 85,500 | $ 85,500 |
Income Taxes Income Tax Holiday
Income Taxes Income Tax Holiday Statutory Rate (Details) - Singapore [Member] - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Income Tax Holiday [Line Items] | |||
Income Tax Holiday Statutory Tax Rate | 17.00% | ||
Income Tax Holiday Pioneer Status Tax Rate | 0.00% | ||
Benefit from income tax holiday | $ 64.1 | $ 55.9 | $ 51.3 |
Benefit from income tax holiday, per share (in dollars per share) | $ 0.25 | $ 0.21 | $ 0.19 |
Income Taxes Tax Credit Carryfo
Income Taxes Tax Credit Carryforward (Details) - State and Local Jurisdiction [Member] $ in Millions | Mar. 31, 2018USD ($) |
Tax Credit Carryforward [Line Items] | |
Tax Credit Carryforward, Amount | $ 177.4 |
Tax Credit Carryforward, Valuation Allowance | $ 128.3 |
Income Taxes Adjustments to Add
Income Taxes Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation (Details) $ in Thousands | 12 Months Ended |
Apr. 02, 2016USD ($) | |
Income Tax Disclosure [Abstract] | |
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | $ 11,408 |
Income Taxes Excess Tax Benefit
Income Taxes Excess Tax Benefits, Share-based Compensation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Income Tax Disclosure [Abstract] | |||
Excess benefits from stock-based compensation | $ 21,520 | $ 15,396 | $ 0 |
Segment Information (Details)
Segment Information (Details) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018USD ($)segment | Apr. 01, 2017USD ($) | Apr. 02, 2016USD ($) | |
Segment Reporting Information [Line Items] | |||
Number of operating segments | segment | 1 | ||
Net revenues | $ 2,539,004 | $ 2,349,330 | $ 2,213,881 |
Net long-lived assets | 304,117 | 303,825 | 283,346 |
North America [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 768,146 | 738,450 | 710,662 |
United States [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 671,452 | 606,150 | 592,422 |
Net long-lived assets | 206,406 | 211,995 | 191,400 |
North America, Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 96,694 | 132,300 | 118,240 |
Asia Pacific [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 1,034,166 | 956,154 | 855,866 |
Asia Pacific, Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 370,307 | 358,844 | 335,304 |
China [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 663,859 | 597,310 | 520,562 |
Europe [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 513,703 | 456,585 | 424,685 |
Japan [Member] | |||
Segment Reporting Information [Line Items] | |||
Net revenues | 222,989 | 198,141 | 222,668 |
Ireland [Member] | |||
Segment Reporting Information [Line Items] | |||
Net long-lived assets | 38,257 | 40,626 | 43,011 |
Singapore [Member] | |||
Segment Reporting Information [Line Items] | |||
Net long-lived assets | 45,013 | 39,345 | 36,029 |
Foreign, Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Net long-lived assets | 14,441 | 11,859 | 12,906 |
Non-US [Member] | |||
Segment Reporting Information [Line Items] | |||
Net long-lived assets | $ 97,711 | $ 91,830 | $ 91,946 |
Litigation Settlements and Co93
Litigation Settlements and Contingencies (Details) $ in Millions | Mar. 17, 2017patent | Feb. 17, 2017patent | Mar. 31, 2018USD ($) |
Godo Kaisha IP Bridge (IP Bridge) Patent Infringement [Member] | |||
Loss Contingencies [Line Items] | |||
Number of patents allegedly infringed upon | 2 | ||
Anza Technology, Inc. Patent Infringement [Member] | |||
Loss Contingencies [Line Items] | |||
Number of patents allegedly infringed upon | 3 | ||
Valley Forge [Member] | |||
Loss Contingencies [Line Items] | |||
Damages sought | $ | $ 50 |
Goodwill and Acquisition-Rela94
Goodwill and Acquisition-Related Intangibles (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Mar. 31, 2018 | Apr. 01, 2017 | |
Gross and net amounts of goodwill and of acquisition-related intangibles | ||
Goodwill | $ 162,421 | $ 161,287 |
Total acquisition-related intangibles, gross | 129,446 | 126,747 |
Less accumulated amortization | (125,323) | (123,171) |
Total | 4,123 | 3,576 |
Core Technology [Member] | ||
Gross and net amounts of goodwill and of acquisition-related intangibles | ||
Total acquisition-related intangibles, gross | 82,480 | 79,981 |
Less accumulated amortization | (78,562) | (76,512) |
Total | $ 3,918 | 3,469 |
Weighted-Average Amortization Life | 4 years 9 months | |
Other Intangibles [Member] | ||
Gross and net amounts of goodwill and of acquisition-related intangibles | ||
Total acquisition-related intangibles, gross | $ 46,966 | 46,766 |
Less accumulated amortization | (46,761) | (46,659) |
Total | $ 205 | $ 107 |
Weighted-Average Amortization Life | 2 years 7 months |
Goodwill and Acquisition-Rela95
Goodwill and Acquisition-Related Intangibles (Details 1) - USD ($) $ in Thousands | 12 Months Ended | ||
Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Amortization of acquisition-related intangibles | $ 2,152 | $ 5,127 | $ 6,550 |
Schedule of expected annual amortization expense for acquisition-related intangibles | |||
2,019 | 1,253 | ||
2,020 | 1,160 | ||
2,021 | 1,137 | ||
2,022 | 573 | ||
Total | $ 4,123 | $ 3,576 |
Employee Benefit Plans (Details
Employee Benefit Plans (Details) | 12 Months Ended | ||
Mar. 31, 2018USD ($)participant | Apr. 01, 2017USD ($) | Apr. 02, 2016USD ($) | |
Postemployment Benefits [Abstract] | |||
Total contribution to the employee benefit plans | $ 14,700,000 | $ 12,900,000 | $ 11,000,000 |
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 | 75.00% | ||
Number of participants in the plan who self direct their contribution into investment option (more than) | participant | 192 | ||
Employee benefit plan assets | $ 95,300,000 | 81,100,000 | |
Employee benefit plan obligations | $ 103,400,000 | $ 88,100,000 |
Executive Transition Costs (Det
Executive Transition Costs (Details) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2018USD ($)position | Mar. 31, 2018USD ($) | Apr. 01, 2017USD ($) | Apr. 02, 2016USD ($) | |
Restructuring and Related Activities [Abstract] | ||||
Number of positions eliminated in restructuring | position | 60 | |||
Restructuring Cost and Reserve [Line Items] | ||||
Total executive transition costs | $ 33,351 | $ 33,351 | $ 0 | $ 0 |
Employee Severance [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Total executive transition costs | 33,400 | 33,351 | ||
Cash payments | (6,306) | |||
Non-cash charges | (16,621) | |||
Balance as of March 31, 2018 | $ 10,424 | $ 10,424 |
Subsequent Event (Details)
Subsequent Event (Details) | Apr. 25, 2018$ / shares |
Subsequent Event [Member] | |
Subsequent Event [Line Items] | |
Dividends Payable, Amount Per Share | $ 0.36 |
Schedule II - Valuation and Q99
Schedule II - Valuation and Qualifying Accounts (Allowances) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Mar. 31, 2018 | Dec. 30, 2017 | [1] | Sep. 30, 2017 | [1] | Jul. 01, 2017 | Apr. 01, 2017 | Dec. 31, 2016 | [2] | Oct. 01, 2016 | [2] | Jul. 02, 2016 | Mar. 31, 2018 | Apr. 01, 2017 | Apr. 02, 2016 | |||||
Supplementary Financial Data [Abstract] | |||||||||||||||||||
Net revenues | $ 672,862 | [1] | $ 631,193 | $ 619,503 | $ 615,446 | [1] | $ 609,452 | [2] | $ 585,688 | $ 579,209 | $ 574,981 | [2] | $ 2,539,004 | $ 2,349,330 | $ 2,213,881 | ||||
Gross margin | 475,531 | [1] | 449,037 | 434,717 | 423,351 | [1] | 423,641 | [2] | 407,455 | 403,334 | 406,684 | [2] | 1,782,636 | 1,641,114 | 1,541,974 | ||||
Income before provision for taxes | 185,984 | [1],[3] | 195,169 | 187,000 | 182,259 | [1] | 171,220 | [2] | 162,580 | 175,662 | 181,618 | [2] | 750,411 | 691,080 | 636,825 | ||||
Net income | $ 165,659 | [1] | $ 11,945 | $ 167,532 | $ 167,245 | [1] | $ 153,425 | [2] | $ 141,846 | $ 164,192 | $ 163,049 | [2] | $ 512,381 | $ 622,512 | $ 550,867 | ||||
Net income per common share: | |||||||||||||||||||
Basic (in dollars per share) | $ 0.65 | [1],[4] | $ 0.05 | [4] | $ 0.68 | [4] | $ 0.67 | [1],[4] | $ 0.62 | [2],[4] | $ 0.57 | [4] | $ 0.65 | [4] | $ 0.64 | [2],[4] | $ 2.05 | $ 2.47 | $ 2.14 |
Diluted (in dollars per share) | $ 0.64 | [1],[4] | $ 0.05 | [4] | $ 0.65 | [4] | $ 0.63 | [1],[4] | $ 0.57 | [2],[4] | $ 0.52 | [4] | $ 0.61 | [4] | $ 0.61 | [2],[4] | $ 1.99 | $ 2.32 | $ 2.05 |
Shares used in per share calculations: | |||||||||||||||||||
Weighted Average Number of Shares Outstanding, Basic | 254,559 | [1] | 254,089 | 248,094 | 247,911 | [1] | 249,014 | [2] | 250,982 | 253,466 | 252,901 | [2] | 249,595 | 252,301 | 257,184 | ||||
Weighted Average Number of Shares Outstanding, Diluted | 257,916 | [1] | 258,108 | 258,217 | 265,797 | [1] | 267,157 | [2] | 270,781 | 270,373 | 266,206 | [2] | 257,960 | 268,813 | 268,667 | ||||
Cash dividends per common share (in dollars per share) | $ 0.35 | [1] | $ 0.35 | $ 0.35 | $ 0.35 | [1] | $ 0.33 | [2] | $ 0.33 | $ 0.33 | $ 0.33 | [2] | |||||||
Executive transition costs | $ 33,351 | $ 33,351 | $ 0 | $ 0 | |||||||||||||||
Allowance for Doubtful Accounts [Member] | |||||||||||||||||||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||||||||||||||||||
Valuation Allowances and Reserves, Beginning of Year | $ 3,200 | $ 3,341 | 3,200 | 3,341 | 3,353 | ||||||||||||||
Valuation Allowances And Reserves Additions | 0 | 0 | 0 | ||||||||||||||||
Valuation Allowances and Reserves, Deductions | 30 | 141 | 12 | ||||||||||||||||
Valuation Allowances and Reserves, End of Year | 3,170 | $ 3,200 | 3,170 | 3,200 | 3,341 | ||||||||||||||
Allowance for Deferred Tax Assets [Member] | |||||||||||||||||||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||||||||||||||||||
Valuation Allowances and Reserves, Beginning of Year | $ 72,520 | $ 62,179 | 72,520 | 62,179 | 52,552 | ||||||||||||||
Valuation Allowances And Reserves Additions | 28,863 | 10,341 | 9,834 | ||||||||||||||||
Valuation Allowances and Reserves, Deductions | 0 | 0 | 207 | ||||||||||||||||
Valuation Allowances and Reserves, End of Year | $ 101,383 | $ 72,520 | $ 101,383 | $ 72,520 | $ 62,179 | ||||||||||||||
[1] | Xilinx uses a 52- to 53-week fiscal year ending on the Saturday nearest March 31. Fiscal 2018 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 2017 was a 53-week year and each quarter was a 13-week quarter except the third quarter, which was a 14-week quarter. | ||||||||||||||||||
[3] | Income before income taxes for the fourth quarter of fiscal 2018 included executive transition costs of $33.4 million. | ||||||||||||||||||
[4] | 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. |