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Investments | 3 Months Ended
--- | ---
Sep. 29, 2013
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments Short-term investments consist of municipal bonds, corporate bonds, non-U.S. certificates of deposit, U.S. agency securities and non-U.S. government securities. All marketable investments are classified as available-for-sale. The following tables summarize marketable investments (in thousands):
|  | September 29, 2013
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Municipal bonds |  |  | $272,382 |  |  |  | $1,255 |  |  |  | ($502 | ) |  |  | $273,135 |
Corporate bonds |  | 207,130 |  |  | 1,704 |  |  | (1,049 | ) |  | 207,785 |
U.S. agency securities |  | 31,222 |  |  | 226 |  |  | — |  |  | 31,448 |
Non-U.S. certificates of deposit |  | 380,000 |  |  | — |  |  | — |  |  | 380,000 |
Non-U.S. government securities |  | 8,587 |  |  | 12 |  |  | (2 | ) |  | 8,597 |
Total |  |  | $899,321 |  |  |  | $3,197 |  |  |  | ($1,553 | ) |  |  | $900,965 |
|  | 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 tables present 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 (in thousands, except numbers of securities):
|  | September 29, 2013
|  | Less than 12 Months |  | Greater than 12 Months |  | Total
|  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Municipal bonds |  |  | $91,293 |  |  |  | ($502 | ) |  |  | $— |  |  |  | $— |  |  |  | $91,293 |  |  |  | ($502 | )
Corporate bonds |  | 86,129 |  |  | (1,049 | ) |  | — |  |  | — |  |  | 86,129 |  |  | (1,049 | )
Non-U.S. government securities |  | 3,545 |  |  | (2 | ) |  | — |  |  | — |  |  | 3,545 |  |  | (2 | )
Total |  |  | $180,967 |  |  |  | ($1,553 | ) |  |  | $— |  |  |  | $— |  |  |  | $180,967 |  |  |  | ($1,553 | )
Number of securities with an unrealized loss |  |  |  | 95 |  |  |  |  | — |  |  |  |  | 95 |
|  | 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 | )
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 Company utilizes specific identification in computing realized gains and losses on the sale of investments. Realized gains from the sale of investments for the three months ended September 29, 2013 of approximately $10 thousand 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 September 29, 2013 and June 30, 2013. The contractual maturities of marketable investments as of September 29, 2013 were as follows (in thousands):
| September 29, 2013
| Within One Year |  | After One, Within Five Years |  | After Five, Within Ten Years |  | After Ten Years |  | Total
Municipal bonds |  | $35,206 |  |  |  | $237,929 |  |  |  | $— |  |  |  | $— |  |  |  | $273,135 |
Corporate bonds | 30,662 |  |  | 177,123 |  |  | — |  |  | — |  |  | 207,785 |
U.S. agency securities | 4,042 |  |  | 27,406 |  |  | — |  |  | — |  |  | 31,448 |
Non-U.S. certificates of deposit | 380,000 |  |  | — |  |  | — |  |  | — |  |  | 380,000 |
Non-U.S. government securities | 5,599 |  |  | 2,998 |  |  | — |  |  | — |  |  | 8,597 |
Total |  | $455,509 |  |  |  | $445,456 |  |  |  | $— |  |  |  | $— |  |  |  | $900,965 |

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