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Investments & Fair Value Measurements (Tables)
 6 Months Ended
Apr. 01, 2016
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]  
Schedule Of Financial Assets and Liabilities Carried At Fair Value
 
April 1,
2016
 
Cost
Unrealized
 
 
Estimated Fair Value
 
Gains
Losses
Total
 
Level 1
Level 2
Level 3
Cash and cash equivalents:
 
 
 
 
 
 
 
 
Cash
$
494,964

 
 
$
494,964

 
 
 
 
Cash equivalents:
 
 
 
 
 
 
 
 
Money market funds
26,238

—

—

26,238

 
26,238

 
 
Cash and cash equivalents
521,202

—

—

521,202


26,238

—

—

 
 
 
 
 
 
 
 
 
Short-term investments:
 
 
 
 
 
 
 
 
Commercial paper
13,867

22

(7
)
13,882

 
 
13,882

 
Corporate bonds
71,851

—

(51
)
71,800

 
 
71,800

 
Municipal debt securities
18,591

8

(14
)
18,585

 
 
18,585

 
Short-term investments
104,309

30

(72
)
104,267


—

104,267

—

 
 
 
 
 
 
 
 
 
Long-term investments:
 
 
 
 
 
 
 
 
Certificate of deposit (1)
13,000

—

(15
)
12,985

 
 
12,985

 
U.S. agency securities
11,631

39

(1
)
11,669

 
11,669

 
 
Government bonds
14,483

70

(1
)
14,552

 
14,552

 
 
Corporate bonds
189,585

810

(197
)
190,198

 
 
190,198

 
Municipal debt securities
35,033

121

(22
)
35,132

 
 
35,132

 
Other long-term investments (2)
3,046

509

—

3,555

 
509

 


Long-term investments
266,778

1,549

(236
)
268,091


26,730

238,315

—

 
 
 
 
 
 
 
 
 
Total cash, cash equivalents, and investments
$
892,289

$
1,579

$
(308
)
$
893,560

 
$
52,968

$
342,582

$
—

 
 
 
 
 
 
 
 
 
Investments held in supplemental retirement plan:
 
 
 
 
 
 
 
 
Assets
2,404

 
 
2,404

 
2,404

 
 
Included in prepaid expenses and other current assets & other non-current assets
 
 
 
 
 
Liabilities
2,404

 
 
2,404

 
2,404

 
 
Included in accrued liabilities & other non-current liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Contingent consideration related to acquisition:
 
 
 
 
 
 
 
 
Liabilities
95

 
 
95

 


 
95

Included in accrued liabilities
 
 
 
 
 
(1)
The certificate of deposit includes marketable securities, and has a maturity in excess of one year as of April 1, 2016.
(2)
Other long-term investments as of April 1, 2016 include a marketable equity security of $0.5 million, and other investments that are not carried at fair value including an equity method investment of $0.6 million and two cost method investments of $2.0 million and $0.5 million.

Our cash and investment portfolio, which is recorded as cash equivalents and both short and long-term investments, consists of the following (in thousands):
 
April 1,
2016
 
Cost
Unrealized
 
 
Estimated Fair Value
 
Gains
Losses
Total
 
Level 1
Level 2
Level 3
Cash and cash equivalents:
 
 
 
 
 
 
 
 
Cash
$
494,964

 
 
$
494,964

 
 
 
 
Cash equivalents:
 
 
 
 
 
 
 
 
Money market funds
26,238

—

—

26,238

 
26,238

 
 
Cash and cash equivalents
521,202

—

—

521,202


26,238

—

—

 
 
 
 
 
 
 
 
 
Short-term investments:
 
 
 
 
 
 
 
 
Commercial paper
13,867

22

(7
)
13,882

 
 
13,882

 
Corporate bonds
71,851

—

(51
)
71,800

 
 
71,800

 
Municipal debt securities
18,591

8

(14
)
18,585

 
 
18,585

 
Short-term investments
104,309

30

(72
)
104,267


—

104,267

—

 
 
 
 
 
 
 
 
 
Long-term investments:
 
 
 
 
 
 
 
 
Certificate of deposit (1)
13,000

—

(15
)
12,985

 
 
12,985

 
U.S. agency securities
11,631

39

(1
)
11,669

 
11,669

 
 
Government bonds
14,483

70

(1
)
14,552

 
14,552

 
 
Corporate bonds
189,585

810

(197
)
190,198

 
 
190,198

 
Municipal debt securities
35,033

121

(22
)
35,132

 
 
35,132

 
Other long-term investments (2)
3,046

509

—

3,555

 
509

 


Long-term investments
266,778

1,549

(236
)
268,091


26,730

238,315

—

 
 
 
 
 
 
 
 
 
Total cash, cash equivalents, and investments
$
892,289

$
1,579

$
(308
)
$
893,560

 
$
52,968

$
342,582

$
—

 
 
 
 
 
 
 
 
 
Investments held in supplemental retirement plan:
 
 
 
 
 
 
 
 
Assets
2,404

 
 
2,404

 
2,404

 
 
Included in prepaid expenses and other current assets & other non-current assets
 
 
 
 
 
Liabilities
2,404

 
 
2,404

 
2,404

 
 
Included in accrued liabilities & other non-current liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Contingent consideration related to acquisition:
 
 
 
 
 
 
 
 
Liabilities
95

 
 
95

 


 
95

Included in accrued liabilities
 
 
 
 
 
(1)
The certificate of deposit includes marketable securities, and has a maturity in excess of one year as of April 1, 2016.
(2)
Other long-term investments as of April 1, 2016 include a marketable equity security of $0.5 million, and other investments that are not carried at fair value including an equity method investment of $0.6 million and two cost method investments of $2.0 million and $0.5 million.



 
September 25,
2015
 
Cost
Unrealized
 
 
Estimated Fair Value
 
Gains
Losses
Total
 
Level 1
Level 2
Level 3
Cash and cash equivalents:
 
 
 
 
 
 
 
 
Cash
$
511,736

 
 
$
511,736

 
 
 
 
Cash equivalents:
 
 
 
 
 
 
 
 
Money market funds
19,014

—

—

19,014

 
19,014

 
 
Corporate bonds
1,176

—

—

1,176

 
 
1,176

 
Cash and cash equivalents
531,926

—

—

531,926

 
19,014

1,176

—

 
 
 
 
 
 
 
 
 
Short-term investments:
 
 
 
 
 
 
 
 
Government bonds
2,000

1

—

2,001

 
2,001

 
 
Commercial paper
6,478

—

—

6,478

 
 
6,478

 
Corporate bonds
86,543

46

(11
)
86,578

 
 
86,578

 
Municipal debt securities
43,746

98

—

43,844

 
 
43,844

 
Short-term investments
138,767

145

(11
)
138,901

 
2,001

136,900

—

 
 
 
 
 
 
 
 
 
Long-term investments:
 
 
 
 
 
 
 
 
U.S. agency securities
1,999

1

—

2,000

 
2,000

 
 
Government bonds
30,505

19

(17
)
30,507

 
30,507

 
 
Corporate bonds
167,394

138

(392
)
167,140

 
 
167,140

 
Municipal debt securities
117,552

189

(60
)
117,681

 
 
117,681

 
Other long-term investments (1)
2,961

726

—

3,687

 
726

 
 
Long-term investments
320,411

1,073

(469
)
321,015

 
33,233

284,821

—

 
 
 
 
 
 
 
 
 
Total cash, cash equivalents, and investments
$
991,104

$
1,218

$
(480
)
$
991,842

 
$
54,248

$
422,897

$
—

 
 
 
 
 
 
 
 
 
Investments held in supplemental retirement plan:
 
 
 
 
 
 
 
Assets
2,498

 
 
2,498

 
2,498

 
 
Included in prepaid expenses and other current assets & other non-current assets
 
 
 
 
 
Liabilities
2,498

 
 
2,498

 
2,498

 
 
Included in accrued liabilities & other non-current liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Contingent consideration related to acquisition:
 
 
 
 
 
 
 
 
Liabilities
95

 
 
95

 
 
 
95

Included in accrued liabilities
 
 
 
 
 
(1)
Other long-term investments as of September 25, 2015 include a marketable equity security of $0.7 million, and other investments that are not carried at fair value including an equity method investment of $0.5 million and two cost method investments of $2.0 million and $0.5 million.
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value
The following table presents the gross unrealized losses and fair value for those available-for-sale securities that were in an unrealized loss position as of April 1, 2016 and September 25, 2015 (in thousands):
 
April 1, 2016
 
September 25, 2015
Investment Type
Fair Value
Gross Unrealized Losses (1)
 
Fair Value
Gross Unrealized Losses (1)
Certificate of deposit
$
12,986

$
(15
)
 
$
—

$
—

U.S. agency securities
2,996

(2
)
 
19,005

(17
)
Commercial paper
13,860

(7
)
 
—

—

Corporate bonds
71,460

(248
)
 
148,034

(403
)
Municipal debt securities
18,338

(36
)
 
35,476

(60
)
Total
$
119,640

$
(308
)
 
$
202,515

$
(480
)
(1)
Our available-for-sale securities in an unrealized loss position were in such position for less than twelve months as of both April 1, 2016 and September 25, 2015.
Available-for-sale Securities
The following table summarizes the amortized cost and estimated fair value of the available-for-sale securities within our investment portfolio based on stated maturities as of April 1, 2016 and September 25, 2015, which are recorded within cash equivalents and both short and long-term investments in our consolidated balance sheets (in thousands):
 
April 1, 2016
 
September 25, 2015
Range of maturity
Amortized Cost
Fair Value
 
Amortized Cost
Fair Value
Due within 1 year
$
130,547

$
130,505

 
$
158,957

$
159,090

Due in 1 to 2 years
125,706

125,932

 
173,571

173,577

Due in 2 to 3 years
138,027

138,604

 
143,879

143,752

Total
$
394,280

$
395,041

 
$
476,407

$
476,419