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Auction Rate Securities (Tables)
 12 Months Ended
Jun. 24, 2017
Text Block [Abstract]  
ARS Investments

The type of ARS investments we held as of the end of fiscal 2017, including the original cost basis, other-than-temporary impairment included in retained earnings, new cost basis, unrealized gain, 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

 

Preferred stock

 

$

5.0

 

 

$

(5.0

)

 

$

—

 

 

$

1.5

 

 

$

1.5

 

 

The various types of ARS investments we held as of the end of fiscal 2016, including the original cost basis, other-than-temporary impairment included in retained earnings, new cost basis, unrealized gain, 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

 

$

7.5

 

 

$

(2.2

)

(1)

$

5.3

 

 

$

1.8

 

 

$

7.1

 

Preferred stock

 

 

5.0

 

 

 

(5.0

)

 

 

—

 

 

 

1.5

 

 

 

1.5

 

Total ARS Investments

 

$

12.5

 

 

$

(7.2

)

 

$

5.3

 

 

$

3.3

 

 

$

8.6

 

 

(1)

Other-than-temporary impairment in retained earnings is partially offset by cumulative accretion of $4.4 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.