Auction Rate Securities (Tables)

12 Months Ended

Jun. 27, 2015

The various types of ARS investments we held as of the end of fiscal 2015, including the original cost basis, other-than-temporary impairment included in retained earnings, new cost basis, unrealized gain/(loss), and fair value consisted of the following (in millions):

	Original Cost Basis		Other-than- temporary Impairment in Retained Earnings				New Cost Basis		Unrealized Gain		Fair Value
Credit linked notes	$	13.5	$	(6.1	)	⁽¹⁾	$	7.4	$	5.0	$	12.4
Preferred stock		5.0		(5.0	)			—		2.8		2.8
Municipals		0.6		(0.1	)			0.5		0.1		0.6
Total ARS Investments	$	19.1	$	(11.2	)		$	7.9	$	7.9	$	15.8

(1)	Other-than-temporary impairment in retained earnings is partially offset by cumulative accretion of $2.7 million on non-current other assets. Accretion is reclassified from accumulated other comprehensive income and recorded in the consolidated statements of income as interest income.

The various types of ARS investments we held as of the end of fiscal 2014, including the original cost basis, other-than-temporary impairment included in retained earnings, new cost basis, unrealized gain/(loss), and fair value consisted of the following (in millions):

	Original Cost Basis		Other-than- temporary Impairment in Retained Earnings				New Cost Basis		Unrealized Gain/(Loss)			Fair Value
Student loans	$	3.5	$	(0.2	)		$	3.3	$	(0.1	)	$	3.2
Credit linked notes		13.5		(7.5	)	⁽¹⁾		6.0		5.9			11.9
Preferred stock		5.0		(5.0	)			—		2.8			2.8
Municipals		2.0		(0.1	)			1.9		—			1.9
Total ARS Investments	$	24.0	$	(12.8	)		$	11.2	$	8.6		$	19.8

(1)	Other-than-temporary impairment in retained earnings is partially offset by cumulative accretion of $1.3 million on non-current other assets. Accretion is reclassified from accumulated other comprehensive income and recorded in the consolidated statements of income as interest income.