XML 113 R14.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Investments | 12 Months Ended
--- | ---
Jun. 30, 2013
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments Short-term investments consist of corporate bonds, municipal bonds, U.S. agency securities, non-U.S. certificates of deposit and non-U.S. government securities. All marketable investments are classified as available-for-sale. The following table provides a summary of marketable investments as of June 30, 2013 (in thousands):
| June 30, 2013
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Municipal bonds |  | $250,206 |  |  |  | $817 |  |  |  | ($1,314 | ) |  |  | $249,709 |
Corporate bonds | 192,147 |  |  | 1,678 |  |  | (1,765 | ) |  | 192,060 |
U.S. agency securities | 39,288 |  |  | 186 |  |  | — |  |  | 39,474 |
Non-U.S. certificates of deposit | 345,000 |  |  | — |  |  | — |  |  | 345,000 |
Non-U.S. government securities | 7,608 |  |  | 14 |  |  | (19 | ) |  | 7,603 |
Total |  | $834,249 |  |  |  | $2,695 |  |  |  | ($3,098 | ) |  |  | $833,846 |
The following table presents the gross unrealized losses and estimated fair value of the Company’s investment securities, aggregated by investment type and the length of time that individual investment securities have been in a continuous unrealized loss position, as of June 30, 2013 (in thousands):
| June 30, 2013
| Less than 12 Months |  | Greater than 12 Months |  | Total
| Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Municipal bonds |  | $126,926 |  |  |  | ($1,314 | ) |  |  | $— |  |  |  | $— |  |  |  | $126,926 |  |  |  | ($1,314 | )
Corporate bonds | 102,010 |  |  | (1,765 | ) |  | — |  |  | — |  |  | 102,010 |  |  | (1,765 | )
U.S. agency securities | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Non-U.S. certificates of deposit | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Non-U.S. government securities | 5,534 |  |  | (19 | ) |  | — |  |  | — |  |  | 5,534 |  |  | (19 | )
Total |  | $234,470 |  |  |  | ($3,098 | ) |  |  | $— |  |  |  | $— |  |  |  | $234,470 |  |  |  | ($3,098 | )
Number of securities with an unrealized loss |  |  | 123 |  |  |  |  | — |  |  |  |  | 123 |
The following table provides a summary of marketable investments as of June 24, 2012 (in thousands):
| June 24, 2012
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Municipal bonds |  | $209,626 |  |  |  | $2,036 |  |  |  | ($58 | ) |  |  | $211,604 |
Corporate bonds | 144,942 |  |  | 1,848 |  |  | (123 | ) |  | 146,667 |
U.S. agency securities | 68,156 |  |  | 450 |  |  | (7 | ) |  | 68,599 |
Non-U.S. certificates of deposit | 130,000 |  |  | — |  |  | — |  |  | 130,000 |
Non-U.S. government securities | 8,746 |  |  | 15 |  |  | (3 | ) |  | 8,758 |
Total |  | $561,470 |  |  |  | $4,349 |  |  |  | ($191 | ) |  |  | $565,628 |
The following table presents the gross unrealized losses and estimated fair value of the Company’s investment securities, aggregated by investment type and the length of time that individual investment securities have been in a continuous unrealized loss position, as of June 24, 2012 (in thousands):
| June 24, 2012
| Less than 12 Months |  | Greater than 12 Months |  | Total
| Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Municipal bonds |  | $30,102 |  |  |  | ($58 | ) |  |  | $— |  |  |  | $— |  |  |  | $30,102 |  |  |  | ($58 | )
Corporate bonds | 30,550 |  |  | (123 | ) |  | — |  |  | — |  |  | 30,550 |  |  | (123 | )
U.S. agency securities | 3,014 |  |  | (7 | ) |  | — |  |  | — |  |  | 3,014 |  |  | (7 | )
Non-U.S. certificates of deposit | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Non-U.S. government securities | 1,543 |  |  | (3 | ) |  | — |  |  | — |  |  | 1,543 |  |  | (3 | )
Total |  | $65,209 |  |  |  | ($191 | ) |  |  | $— |  |  |  | $— |  |  |  | $65,209 |  |  |  | ($191 | )
Number of securities with an unrealized loss |  |  | 33 |  |  |  |  | — |  |  |  |  | 33 |
The Company utilizes specific identification in computing realized gains and losses on the sale of investments. Realized gains from the sale of investments for the fiscal year ended June 30, 2013 of approximately $0.1 million were included in “Non-operating income, net” and unrealized gains and losses are included as a separate component of equity, net of tax, unless the loss is determined to be other-than-temporary. The Company evaluates its investments for possible impairment or a decline in fair value below cost basis that is deemed to be “other than temporary” on a periodic basis. It considers such factors as the length of time and extent to which the fair value has been below the cost basis, the financial condition of the investee, and its ability and intent to hold the investment for a period of time that may be sufficient for an anticipated full recovery in market value. Accordingly, the Company considers declines in its securities to be temporary in nature, and does not consider its securities to be impaired as of June 30, 2013 and June 24, 2012. The contractual maturities of marketable investments at June 30, 2013 were as follows (in thousands):
| Within One Year |  | After One, Within Five Years |  | After Five, Within Ten Years |  | After Ten Years |  | Total
Municipal bonds |  | $53,012 |  |  |  | $196,697 |  |  |  | $— |  |  |  | $— |  |  |  | $249,709 |
Corporate bonds | 26,042 |  |  | 166,018 |  |  | — |  |  | — |  |  | 192,060 |
U.S. agency securities | 8,065 |  |  | 31,409 |  |  | — |  |  | — |  |  | 39,474 |
Non-U.S. certificates of deposit | 345,000 |  |  | — |  |  | — |  |  | — |  |  | 345,000 |
Non-U.S. government securities | 1,501 |  |  | 6,102 |  |  | — |  |  | — |  |  | 7,603 |
Total |  | $433,620 |  |  |  | $400,226 |  |  |  | $— |  |  |  | $— |  |  |  | $833,846 |

X
- Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27290-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27357-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27232-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27161-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=27724398&loc=d3e27405-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration