Investments, Forward Contracts and Fair Value Measurements (Tables)

12 Months Ended

Jun. 30, 2018

Investments and Fair Value Measurements [Abstract]

Schedule of available-for-sale securities

As of July 1, 2017, the Company’s available-for-sale securities are as follows (in millions):



	Amortized Cost/ Carrying Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Debt securities:
U.S. treasuries	$	56.8	$	—	$	(0.1	)	$	56.7
U.S. agencies	45.0		—		(0.1		)	44.9
Municipal bonds and sovereign debt instruments	4.4		—		—			4.4
Asset-backed securities	71.5		—		(0.4		)	71.1
Corporate securities	326.1		0.1		(0.2		)	326.0
Certificates of deposit	6.0		—		—			6.0
Total available-for-sale securities	$	509.8	$	0.1	$	(0.8	)	$	509.1

The following table presents as of June 30, 2018, the Company’s available-for-sale securities, are as follows (in millions):



	Amortized Cost/ Carrying Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Available-for-sale securities:
U.S. treasuries	$	36.0	$	—	$	(0.1	)	$	35.9
U.S. agencies	13.3		—		(0.1		)	13.2
Municipal bonds and sovereign debt instruments	2.7		—		—			2.7
Asset-backed securities	23.9		—		(0.4		)	23.5
Corporate securities	114.9		—		(0.6		)	114.3
Total available-for-sale securities	$	190.8	$	—	$	(1.2	)	$	189.6

Schedule of gross unrealized losses on available-for-sale securities

As of July 1, 2017, the Company’s total gross unrealized losses on available-for-sale securities, aggregated by investment type, are as follows (in millions):



	Less than 12 Months			Greater than 12 Months			Total
U.S. treasuries and agencies	$	(0.2	)	$	—		$	(0.2	)
Asset-backed securities	(0.1		)	(0.3		)	(0.4		)
Corporate securities	(0.2		)	—			(0.2		)
Total gross unrealized losses	$	(0.5	)	$	(0.3	)	$	(0.8	)

As of June 30, 2018, the Company’s total gross unrealized losses on available-for-sale securities, aggregated by type of investment instrument, as follows (in millions):



	Less than 12 Months			Greater than 12 Months			Total
U.S. treasuries and agencies	$	(0.1	)	$	(0.1	)	$	(0.2	)
Asset-backed securities	(0.1		)	(0.3		)	(0.4		)
Corporate securities	(0.4		)	(0.2		)	(0.6		)
Total gross unrealized losses	$	(0.6	)	$	(0.6	)	$	(1.2	)

Schedule of contractual maturities of available-for-sale securities

As of June 30, 2018, the Company’s debt securities classified as available-for-sale securities with contractual maturities are as follows (in millions):



	Amortized Cost/Carrying Cost		Estimated Fair Value
Amounts maturing in less than 1 year	$	140.8	$	140.5
Amounts maturing in 1 - 5 years	49.0		48.4
Amounts maturing in more than 5 years	1.0		0.7
Total debt available-for-sale securities	$	190.8	$	189.6

Schedule of assets measured at fair value

The Company’s assets measured at fair value for the periods presented are as follows (in millions):



	June 30, 2018						July 1, 2017
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Assets:
Debt available-for-sale securities:
U.S. treasuries	$	35.9	$	35.9	$	—	$	56.7	$	56.7	$	—
U.S. agencies	13.2		—		13.2		44.9		—		44.9
Municipal bonds and sovereign debt instruments	2.7		—		2.7		4.4		—		4.4
Asset-backed securities	23.5		—		23.5		71.1		—		71.1
Corporate securities	114.3		—		114.3		326.0		—		326.0
Certificate of deposits	—		—		—		6.0		—		6.0
Total debt available-for-sale securities	189.6		35.9		153.7		509.1		56.7		452.4
Marketable equity securities	—		—		—		—		—		—
Money market funds	354.9		354.9		—		726.4		726.4		—
Trading securities	1.6		1.6		—		2.0		2.0		—
Foreign currency forward contracts	2.7		—		2.7		7.3		—		7.3
Total assets (1)	$	548.8	$	392.4	$	156.4	$	1,244.8	$	785.1	$	459.7

Liability:
Foreign currency forward contracts	$	11.7	$	—	$	11.7	$	1.3	$	—	$	1.3
Total liabilities (2)	$	11.7	$	—	$	11.7	$	1.3	$	—	$	1.3

(1)

Include as of June 30, 2018, $364.8 million in cash and cash equivalents, $169.3 million in short-term investments, $7.3 million in restricted cash, $2.7 million in other current assets, and $4.7 million in other non-current assets on the Company’s Consolidated Balance Sheets. Include as of July 1, 2017, $789.2 million in cash and cash equivalents, $432.2 million in short-term investments, $11.0 million in restricted cash, $7.3 million in other current assets and $5.1 million in other non-current assets on the Company’s Consolidated Balance Sheets.


(2)	Include $11.7 million and $1.3 million in other current liabilities on the Company’s Consolidated Balance Sheets as of June 30, 2018 and July 1, 2017, respectively.