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Financial Instruments (Tables) | 12 Months Ended
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Jun. 28, 2020
Fair Value Disclosures [Abstract] |
Cash, Cash Equivalents, Short-Term Investments, Restricted Cash and Investments and Other Assets Measured at Fair Value on Recurring Basis | The following table sets forth the Company’s cash, cash equivalents, investments, restricted cash and investments, and other assets measured at fair value on a recurring basis as of June 28, 2020, and June 30, 2019:
| June 28, 2020
|  |  |  |  |  |  |  | (Reported Within)
Cost |  | Unrealized Gain |  | Unrealized (Loss) |  | Fair Value |  | Cash and Cash Equivalents |  | Investments |  | Restricted Cash & Investments |  | Other Assets
| (in thousands)
Cash | $ | 977,862 |  |  | $ | — |  |  | $ | — |  |  | $ | 977,862 |  |  | $ | 973,978 |  |  | $ | — |  |  | $ | 3,884 |  |  | $ | — |
Time deposit | 2,244,655 |  |  | — |  |  | — |  |  | 2,244,655 |  |  | 1,994,628 |  |  | — |  |  | 250,027 |  |  | — |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | 1,709,350 |  |  | — |  |  | — |  |  | 1,709,350 |  |  | 1,709,350 |  |  | — |  |  | — |  |  | — |
U.S. Treasury and agencies | 552,088 |  |  | 373 |  |  | (9 | ) |  | 552,452 |  |  | 76,992 |  |  | 475,460 |  |  | — |  |  | — |
Mutual funds | 68,784 |  |  | 4,571 |  |  | (928 | ) |  | 72,427 |  |  | — |  |  | — |  |  | — |  |  | 72,427 |
Level 1 total | 2,330,222 |  |  | 4,944 |  |  | (937 | ) |  | 2,334,229 |  |  | 1,786,342 |  |  | 475,460 |  |  | — |  |  | 72,427 |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises | 31,442 |  |  | 12 |  |  | — |  |  | 31,454 |  |  | 25,999 |  |  | 5,455 |  |  | — |  |  | — |
Foreign government bonds | 10,693 |  |  | 28 |  |  | (5 | ) |  | 10,716 |  |  | 2,540 |  |  | 8,176 |  |  | — |  |  | — |
Corporate notes and bonds | 1,405,615 |  |  | 5,344 |  |  | (302 | ) |  | 1,410,657 |  |  | 131,685 |  |  | 1,278,972 |  |  | — |  |  | — |
Mortgage backed securities - residential | 3,142 |  |  | 71 |  |  | — |  |  | 3,213 |  |  | — |  |  | 3,213 |  |  | — |  |  | — |
Mortgage backed securities - commercial | 23,660 |  |  | 144 |  |  | — |  |  | 23,804 |  |  | — |  |  | 23,804 |  |  | — |  |  | — |
Level 2 total | 1,474,552 |  |  | 5,599 |  |  | (307 | ) |  | 1,479,844 |  |  | 160,224 |  |  | 1,319,620 |  |  | — |  |  | — |
Total | $ | 7,027,291 |  |  | $ | 10,543 |  |  | $ | (1,244 | ) |  | $ | 7,036,590 |  |  | $ | 4,915,172 |  |  | $ | 1,795,080 |  |  | $ | 253,911 |  |  | $ | 72,427 |
| June 30, 2019
|  |  |  |  |  |  |  | (Reported Within)
Cost |  | Unrealized Gain |  | Unrealized (Loss) |  | Fair Value |  | Cash and Cash Equivalents |  | Investments |  | Restricted Cash & Investments |  | Other Assets
| (in thousands)
Cash | $ | 467,460 |  |  | $ | — |  |  | $ | — |  |  | $ | 467,460 |  |  | $ | 462,310 |  |  | $ | — |  |  | $ | 5,150 |  |  | $ | — |
Time deposit | 1,563,686 |  |  | — |  |  | — |  |  | 1,563,686 |  |  | 1,313,659 |  |  | — |  |  | 250,027 |  |  | — |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | 1,644,659 |  |  | — |  |  | — |  |  | 1,644,659 |  |  | 1,644,659 |  |  | — |  |  | — |  |  | — |
U.S. Treasury and agencies | 465,655 |  |  | 283 |  |  | (24 | ) |  | 465,914 |  |  | 86,981 |  |  | 378,933 |  |  | — |  |  | — |
Mutual funds | 76,961 |  |  | 1,063 |  |  | (283 | ) |  | 77,741 |  |  | — |  |  | — |  |  | — |  |  | 77,741 |
Level 1 total | 2,187,275 |  |  | 1,346 |  |  | (307 | ) |  | 2,188,314 |  |  | 1,731,640 |  |  | 378,933 |  |  | — |  |  | 77,741 |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprises | 16,005 |  |  | 5 |  |  | (41 | ) |  | 15,969 |  |  | — |  |  | 15,969 |  |  | — |  |  | — |
Foreign government bonds | 24,408 |  |  | 35 |  |  | — |  |  | 24,443 |  |  | — |  |  | 24,443 |  |  | — |  |  | — |
Corporate notes and bonds | 1,466,167 |  |  | 2,310 |  |  | (99 | ) |  | 1,468,378 |  |  | 150,610 |  |  | 1,317,768 |  |  | — |  |  | — |
Mortgage backed securities - residential | 6,148 |  |  | — |  |  | (4 | ) |  | 6,144 |  |  | — |  |  | 6,144 |  |  | — |  |  | — |
Mortgage backed securities - commercial | 29,587 |  |  | 140 |  |  | — |  |  | 29,727 |  |  | — |  |  | 29,727 |  |  | — |  |  | — |
Level 2 total | 1,542,315 |  |  | 2,490 |  |  | (144 | ) |  | 1,544,661 |  |  | 150,610 |  |  | 1,394,051 |  |  | — |  |  | — |
Total | $ | 5,760,736 |  |  | $ | 3,836 |  |  | $ | (451 | ) |  | $ | 5,764,121 |  |  | $ | 3,658,219 |  |  | $ | 1,772,984 |  |  | $ | 255,177 |  |  | $ | 77,741 |
Schedule of Cash, Cash Equivalents, Short-Term Investments and Restricted Cash and Investments in Unrealized Loss Positions | The following is an analysis of the Company’s cash, cash equivalents, investments, and restricted cash and investments in unrealized loss positions:
| June 28, 2020
Unrealized Losses Less than 12 Months |  | Unrealized Losses 12 Months or Greater |  | Total
Fair Value |  | Gross Unrealized Loss |  | Fair Value |  | Gross Unrealized Loss |  | Fair Value |  | Gross Unrealized Loss
| (in thousands)
U.S. Treasury and agencies | $ | 189,437 |  |  | $ | (9 | ) |  | $ | — |  |  | $ | — |  |  | $ | 189,437 |  |  | $ | (9 | )
Mutual funds | 2,623 |  |  | (289 | ) |  | 5,011 |  |  | (639 | ) |  | 7,634 |  |  | (928 | )
Foreign government bonds | 9,056 |  |  | (5 | ) |  | — |  |  | — |  |  | 9,056 |  |  | (5 | )
Corporate notes and bonds | 332,924 |  |  | (302 | ) |  | — |  |  | — |  |  | 332,924 |  |  | (302 | )
| $ | 534,040 |  |  | $ | (605 | ) |  | $ | 5,011 |  |  | $ | (639 | ) |  | $ | 539,051 |  |  | $ | (1,244 | )
Schedule of Amortized Cost and Fair Value of Cash Equivalents, Short-Term Investments, Restricted Cash and Investments with Contractual Maturities | The amortized cost and fair value of cash equivalents, investments, and restricted investments with contractual maturities as of June 28, 2020, are as follows:
| Cost |  | Estimated Fair Value
| (in thousands)
Due in one year or less | $ | 5,527,654 |  |  | $ | 5,529,241 |
Due after one year through five years | 433,973 |  |  | 437,872 |
Due in more than five years | 19,018 |  |  | 19,188 |
| $ | 5,980,645 |  |  | $ | 5,986,301 |
Schedule of Outstanding Foreign Currency Forward Contracts | As of June 28, 2020, the Company had the following outstanding foreign currency contracts that were entered into under its cash flow and balance sheet hedge programs:
| Notional Value
| Derivatives Designated as Hedging Instruments: |  | Derivatives Not Designated as Hedging Instruments:
| (in thousands)
Foreign currency forward contracts |  |  |  |  |  |  |
| Buy Contracts |  | Sell Contracts |  | Buy Contracts |  | Sell Contracts
Japanese yen | $ | — |  |  | $ | 299,450 |  |  | $ | 22,475 |  |  | $ | — |
Euro | 54,512 |  |  | — |  |  | 36,113 |  |  | — |
Korean won | 20,492 |  |  | — |  |  | — |  |  | 50,715 |
Taiwan dollar | — |  |  | — |  |  | 47,612 |  |  | — |
Chinese renminbi | — |  |  | — |  |  | 35,071 |  |  | — |
Swiss franc | — |  |  | — |  |  | 12,672 |  |  | — |
British pound sterling | — |  |  | — |  |  | 11,191 |  |  | — |
Singapore dollar | — |  |  | — |  |  | 10,062 |  |  | — |
Indian rupee | — |  |  | — |  |  | 7,772 |  |  | — |
Malaysian ringgit | — |  |  | — |  |  | 5,612 |  |  | — |
| $ | 75,004 |  |  | $ | 299,450 |  |  | $ | 188,580 |  |  | $ | 50,715 |
Schedule of Fair Value of Derivatives Instruments | The fair value of derivative instruments in the Company’s Consolidated Balance Sheet as of June 28, 2020, and June 30, 2019, were as follows:
| June 28, 2020 |  | June 30, 2019
Fair Value of Derivative Instruments (Level 2) |  | Fair Value of Derivative Instruments (Level 2)
Derivative Assets |  | Derivative Liabilities |  | Derivative Assets |  | Derivative Liabilities
Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value |  | Balance Sheet Location |  | Fair Value
| (in thousands)
Derivatives designated as hedging instruments:
Foreign exchange contracts | Prepaid expense and other assets |  | $ | 1,862 |  |  | Accrued expenses and other current liabilities |  | $ | 1,405 |  |  | Prepaid expense and other assets |  | $ | 119 |  |  | Accrued expenses and other current liabilities |  | $ | 2,756 |
Interest rate contracts, short-term |  |  | — |  |  |  |  | — |  |  |  |  | — |  |  | Accrued expenses and other current liabilities |  | 5,149 |
Interest rate contracts, long-term |  |  | — |  |  |  |  | — |  |  | Other assets |  | 1,537 |  |  |  |  | — |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |
Foreign exchange contracts | Prepaid expense and other assets |  | 155 |  |  | Accrued expenses and other current liabilities |  | 70 |  |  | Prepaid expense and other assets |  | 1,249 |  |  | Accrued expenses and other current liabilities |  | 748 |
Total derivatives |  |  | $ | 2,017 |  |  |  |  | $ | 1,475 |  |  |  |  | $ | 2,905 |  |  |  |  | $ | 8,653 |
Schedule of Derivative Instruments Designated as Cash Flow Hedges in Statements of Operations | The effect of derivative instruments designated as cash flow hedges on the Company’s Consolidated Statements of Operations, including accumulated other comprehensive income (“AOCI”), was as follows:
|  | Year Ended June 28, 2020 |  | Year Ended June 30, 2019
| Location of Gain (Loss) Recognized in or Reclassified into Income | Gain (Loss) Recognized in AOCI |  | Gain (Loss) Reclassified from AOCI into Income |  | Gain (Loss) Recognized in AOCI |  | Gain (Loss) Reclassified from AOCI into Income
Derivatives in Cash Flow Hedging Relationships | (in thousands)
Foreign exchange contracts | Revenue | $ | 4,095 |  |  | $ | 2,418 |  |  | $ | 8,143 |  |  | $ | 10,821 |
Foreign exchange contracts | Cost of goods sold | (2,104 | ) |  | (3,101 | ) |  | (3,801 | ) |  | (5,949 | )
Foreign exchange contracts | SG&A | (1,158 | ) |  | (1,501 | ) |  | (1,618 | ) |  | (2,321 | )
Interest rate contracts | Other expense, net | (40,610 | ) |  | (700 | ) |  | — |  |  | (134 | )
|  | $ | (39,777 | ) |  | $ | (2,884 | ) |  | $ | 2,724 |  |  | $ | 2,417 |
The effect of derivative instruments not designated as cash flow hedges on the Company’s Consolidated Statement of Operations was as follows:
| Year Ended
June 28, 2020 |  | June 30, 2019
Derivatives Not Designated as Hedging Instruments: | Location of (Loss) Gain Recognized in Income | Loss Recognized in Income |  | Gain Recognized in Income
|  | (in thousands)
Foreign exchange contracts | Other income | $ | (5,971 | ) |  | $ | 4,124 |
The following table presents the effect of the fair value cash flow hedge accounting on the Statement of Financial Performance as well as presents the location and amount of gain/(loss) recognized in Income on fair value and cash flow hedging relationships:
| Location and Amount of Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships
| Year ended
| June 28, 2020
| Revenue |  | Cost of Goods Sold |  | Selling, General and Administrative |  | Other Income (Expense)
| (in thousands)
Total amounts of income and expense line items presented in the statement of financial performance in which the effects of fair value or cash flow hedges are recorded:
| $ | 10,044,736 |  |  | $ | 5,436,043 |  |  | $ | 682,479 |  |  | $ | (98,824 | )
The effects of fair value and cash flow hedging: |  |  |  |  |  |  |
Gain or (loss) on fair value hedging relationships in Subtopic 815-20: |  |  |  |
Interest contracts: |  |  |  |  |  |  |
Hedged items | — |  |  | — |  |  | — |  |  | (12,882 | )
Derivatives designated as hedging instruments | — |  |  | — |  |  | — |  |  | 12,882 |
Gain or (loss) on cash flow hedging relationships in Subtopic 815-20: |  |  |  |
Foreign exchange contracts: |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income | 2,418 |  |  | (3,101 | ) |  | (1,501 | ) |  | — |
Interest rate contracts: |  |  |  |  |  |  |
Amount of gain (loss) reclassified from accumulated other comprehensive income into income | — |  |  | — |  |  | — |  |  | (700 | )

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