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Investments | 9 Months Ended
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Mar. 29, 2015
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments Investments consisted primarily of municipal bonds, corporate bonds, U.S. agency securities, non-U.S. certificates of deposit and non-U.S. government securities. All short-term investments are classified as available-for-sale. Other long-term investments consist of the Company's approximately 13% common stock ownership interest in Lextar Electronics Corporation, which was completed in December 2014. This investment is accounted for under the equity method utilizing the fair value option. The following tables summarize short-term investments (in thousands):
|  | March 29, 2015
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Municipal bonds |  |  | $188,994 |  |  |  | $1,951 |  |  |  | ($71 | ) |  |  | $190,874 |
Corporate bonds |  | 153,535 |  |  | 2,589 |  |  | (33 | ) |  | 156,091 |
U.S. agency securities |  | — |  |  | — |  |  | — |  |  | — |
Non-U.S. certificates of deposit |  | 230,348 |  |  | — |  |  | — |  |  | 230,348 |
Non-U.S. government securities |  | — |  |  | — |  |  | — |  |  | — |
Total short-term investments |  |  | $572,877 |  |  |  | $4,540 |  |  |  | ($104 | ) |  |  | $577,313 |
|  | June 29, 2014
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Municipal bonds |  |  | $291,869 |  |  |  | $2,323 |  |  |  | ($12 | ) |  |  | $294,180 |
Corporate bonds |  | 200,177 |  |  | 2,283 |  |  | (114 | ) |  | 202,346 |
U.S. agency securities |  | 18,994 |  |  | 141 |  |  | — |  |  | 19,135 |
Non-U.S. certificates of deposit |  | 352,928 |  |  | — |  |  | — |  |  | 352,928 |
Non-U.S. government securities |  | 7,025 |  |  | 28 |  |  | — |  |  | 7,053 |
Total short-term investments |  |  | $870,993 |  |  |  | $4,775 |  |  |  | ($126 | ) |  |  | $875,642 |
The following tables present the gross unrealized losses and estimated fair value of the Company's short-term investments, aggregated by investment type and the length of time that individual securities have been in a continuous unrealized loss position (in thousands, except numbers of securities):
|  | March 29, 2015
|  | Less than 12 Months |  | Greater than 12 Months |  | Total
|  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Municipal bonds |  |  | $31,776 |  |  |  | ($71 | ) |  |  | $— |  |  |  | $— |  |  |  | $31,776 |  |  |  | ($71 | )
Corporate bonds |  | 15,373 |  |  | (33 | ) |  | — |  |  | — |  |  | 15,373 |  |  | (33 | )
Total |  |  | $47,149 |  |  |  | ($104 | ) |  |  | $— |  |  |  | $— |  |  |  | $47,149 |  |  |  | ($104 | )
Number of securities with an unrealized loss |  |  |  | 29 |  |  |  |  | — |  |  |  |  | 29 |
|  | June 29, 2014
|  | Less than 12 Months |  | Greater than 12 Months |  | Total
|  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Municipal bonds |  |  | $7,906 |  |  |  | ($8 | ) |  |  | $1,520 |  |  |  | ($4 | ) |  |  | $9,426 |  |  |  | ($12 | )
Corporate bonds |  | 15,696 |  |  | (31 | ) |  | 13,049 |  |  | (83 | ) |  | 28,745 |  |  | (114 | )
Total |  |  | $23,602 |  |  |  | ($39 | ) |  |  | $14,569 |  |  |  | ($87 | ) |  |  | $38,171 |  |  |  | ($126 | )
Number of securities with an unrealized loss |  |  |  | 13 |  |  |  |  | 7 |  |  |  |  | 20 |
The Company utilizes specific identification in computing realized gains and losses on the sale of investments. Realized gains and losses from the sale of investments are included in Non-operating (expense) income, net in the Consolidated Statements of Income 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 considered declines in its investments to be temporary in nature, and did not consider its securities to be impaired as of March 29, 2015 and June 29, 2014. The contractual maturities of short-term investments as of March 29, 2015 were as follows (in thousands):
| Within One Year |  | After One, Within Five Years |  | After Five, Within Ten Years |  | After Ten Years |  | Total
Municipal bonds |  | $14,400 |  |  |  | $140,878 |  |  |  | $35,596 |  |  |  | $— |  |  |  | $190,874 |
Corporate bonds | 24,706 |  |  | 99,571 |  |  | 31,814 |  |  | — |  |  | 156,091 |
Non-U.S. certificates of deposit | 230,348 |  |  | — |  |  | — |  |  | — |  |  | 230,348 |
Total short-term investments |  | $269,454 |  |  |  | $240,449 |  |  |  | $67,410 |  |  |  | $— |  |  |  | $577,313 |

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