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63
Fiscal Year. Effective April 1, 2006,we began reporting our fiscalyear on a 52/53-week period. Beginning
with the fiscal year ending March 31, 2007, our fiscal year ended on theSaturday nearest March 31. The
results of operations for the fiscalyear ended March31, 2007, 2006 and 2005 contain the following number
of weeks:
Fiscal Period Number of Weeks Fiscal Period End Date
Year ended March 31, 2007. .................52weeks March 31, 2007
Year ended March 31, 2006. .................52weeks March 31, 2006
Year ended March 31, 2005. .................52weeks March 31, 2005
Forsimplicity, all fiscal periods in our consolidated financial statements and accompanying notes are
presented as ending on a calendar month end.
2. Cash,Cash Equivalents and Short-Term Investments
Our investments with maturities beyond one year may be classified as short-term based on their liquid
nature and because such securities represent theinvestment of cash that is available for current operations.
Allof our short-term investments areclassified as available-for-sale and are carried at fair marketvalue
with unrealized gains (losses) reported as a separate component of accumulated other comprehensive
income (loss) in shareholders’ equity.
Thefollowing table summarizes our cash, cash equivalents and short-term investments as of March 31,
2007 (in thousands):
Gross Gross
AmortizedUnrealizedUnrealizedFair
Cost GainsLosses Value
Cash and cash equivalents...........$174,748 ——$174,748
Short-term investments:
U.S. agency securities .............12,495 3(2) 12,496
Municipal securities ..............245,761 —(45) 245,716
Corporatenotes..................25,000 —(2) 24,998
Totalshort-term investments .... 283,256 3 (49) 283,210
Cash, cash equivalentsand short-term
investments. .....................$458,004 3 (49) $457,958
Thefollowing table summarizes thegross unrealized losses and fair value of our short-term investments,
aggregatedby investmentcategoryand length of time that individual securities have been in acontinuous
unrealized loss position as of March 31, 2007 (in thousands):
Unrealized Losses
Less Than 12 Months
Unrealized Losses
12 Months or GreaterTotal
Gross Gross Gross
Fair UnrealizedFair Unrealized Fair Unrealized
Value LossesValue Losses Value Losses
U.S. agency securities............. $12,496 $ (2)$—$—$12,496 $ (2)
Municipal securities............... 245,716 (45) ——245,716 (45)
Corporate notes.................. 24,998 (2)— —24,998(2)
Total.......................... $283,210 $(49)$—$—$283,210 $(49)
Thegross unrealized losses in each of thesecurities in theabove tables were primarily caused by a
decrease in the fair value of the investments as aresultof an increase in interestrates. The contractual
terms of these securities do notpermitthe issuer to call, prepay or otherwise settle the securities at prices