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FINANCIAL INSTRUMENTS | 9 Months Ended
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Mar. 31, 2024
Fair Value Disclosures [Abstract] |
FINANCIAL INSTRUMENTS | FINANCIAL INSTRUMENTS The Company’s investment strategies and investment and fair value policies are unchanged from those disclosed in Note 9, “Financial Instruments,” to the Consolidated Financial Statements in Part II, Item 8 of its 2023 Form 10-K. As of March 31, 2024 and June 25, 2023, the fair value of mutual funds and debt and equity investments were not material. The financial statement impacts to the Condensed Consolidated Statement of Operations from debt and equity investments were not material as of and for the three and nine months ended March 31, 2024 and March 26, 2023. The financial instruments reported within Cash and Cash Equivalents in the Company’s Condensed Consolidated Balance Sheets as of March 31, 2024, and June 25, 2023 consisted of the following:
|  |  |  |  |  |  | March 31, 2024 |  | June 25, 2023 |  |  |  |  |  |
|  |  |  |  |  | (in thousands)
Money market funds (fair value measured on a recurring basis, level 1) |  |  |  |  |  |  | $ | 2,277,989 |  |  | $ | 2,223,642 |  |  |  |  |  |  |
Cash |  |  |  |  |  |  | 1,693,654 |  |  | 2,132,522 |  |  |  |  |  |  |
Time deposits |  |  |  |  |  |  | 1,700,589 |  |  | 980,892 |  |  |  |  |  |  |
Total |  |  |  |  |  |  | $ | 5,672,232 |  |  | $ | 5,337,056 |  |  |  |  |  |  |
In addition, as of June 25, 2023 the Company had time deposits of $250.0 million reported within Other assets in the Condensed Consolidated Balance Sheets. Derivative Instruments and Hedging The Company’s hedging strategies and policies are unchanged from those disclosed in Note 9, “Financial Instruments,” to the Consolidated Financial Statements in Part II, Item 8 of its 2023 Form 10-K. As of March 31, 2024 and June 25, 2023, the fair value of outstanding cash flow and balance sheet hedges were not material. The financial statement impacts to the Condensed Consolidated Statement of Operations from derivative instruments and hedging activities were not material as of and for the three and nine months ended March 31, 2024 and March 26, 2023. Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk and the Company’s mitigation strategies are unchanged from those disclosed in Note 9, “Financial Instruments,” to the Consolidated Financial Statements in Part II, Item 8 of its 2023 Form 10-K.

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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
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