CASH, CASH EQUIVALENTS, RESTRICTED CASH AND SHORT-TERM INVESTMENTS

9 Months Ended

Jun. 27, 2020

Cash and Cash Equivalents [Abstract]

CASH, CASH EQUIVALENTS, AND SHORT-TERM INVESTMENTS

Cash equivalents consist of instruments with remaining maturities of three months or less at the date of purchase. In general, these investments are free of trading restrictions.

Cash, cash equivalents, and short-term investments consisted of the following as of June 27, 2020:



(in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Current assets:
Cash	$	165,213	$	—	$	—	$	165,213
Cash equivalents:
Money market funds ⁽¹⁾	126,555		—		—		126,555
Time deposits ⁽²⁾	30,007		—		—		30,007
Total cash and cash equivalents	$	321,775	$	—	$	—	$	321,775
Short-term investments ⁽²⁾:
Time deposits	95,000		—		—		95,000
Deposits ⁽³⁾	99,000		—		—		99,000
Total short-term investments	$	194,000	$	—	$	—	$	194,000
Total cash, cash equivalents and short-term investments	$	515,775	$	—	$	—	$	515,775


(1)	The fair value was determined using unadjusted prices in active, accessible markets for identical assets, and as such they were classified as Level 1 assets in the fair value hierarchy.


(2)	Fair value approximates cost basis.


(3)	Represents deposits that require a notice period of three months for withdrawal.

Cash, cash equivalents and short-term investments consisted of the following as of September 28, 2019:



(in thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Current assets:
Cash	$	201,005	$	—	$	—	$	201,005
Cash equivalents:
Money market funds ⁽¹⁾	163,172		—		—		163,172
Time deposits ⁽²⁾	7		—		—		7
Total cash and cash equivalents	$	364,184	$	—	$	—	$	364,184
Short-term investments ⁽²⁾:
Time deposits	130,000		—		—		130,000
Deposits ⁽³⁾	99,000		—		—		99,000
Total short-term investments	$	229,000	$	—	$	—	$	229,000
Total cash, cash equivalents and short-term investments	$	593,184	$	—	$	—	$	593,184


(1)	The fair value was determined using unadjusted prices in active, accessible markets for identical assets, and as such they were classified as Level 1 assets in the fair value hierarchy.


(2)	Fair value approximates cost basis.

(3)

Represents deposits that require a notice period of three months for withdrawal.