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Investments (Tables)
 6 Months Ended
Dec. 27, 2015
Investments, Debt and Equity Securities [Abstract]  
Summary of Short-term Investments by Type
The following tables summarize short-term investments (in thousands):
 
 
December 27, 2015
 
 
Amortized    
Cost
 
Gross Unrealized    
Gains
 
Gross
Unrealized    
Losses
 
Estimated Fair 
Value
Municipal bonds
 

$192,388

 

$1,877

 

($134
)
 

$194,131

Corporate bonds
 
162,889

 
1,026

 
(460
)
 
163,455

U.S. certificates of deposit
 
500

 
—

 
—

 
500

Non-U.S. certificates of deposit
 
168,481

 
—

 
—

 
168,481

Total short-term investments
 

$524,258

 

$2,903

 

($594
)
 

$526,567

 
 
 
 
 
 
 
 
 
 
 
June 28, 2015
 
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Estimated Fair
Value
Municipal bonds
 

$194,123

 

$988

 

($341
)
 

$194,770

Corporate bonds
 
152,831

 
832

 
(158
)
 
153,505

U.S. certificates of deposit
 
—

 
—

 
—

 
—

Non-U.S. certificates of deposit
 
225,206

 
—

 
—

 
225,206

Total short-term investments
 

$572,160

 

$1,820

 

($499
)
 

$573,481
Summary of Gross Unrealized Losses and Estimated Fair Value of Short-term Investments, Aggregated by Investment Type and Length of Time
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):
 
 
December 27, 2015
 
 
Less than 12 Months
 
Greater than 12 Months
 
Total
 
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Municipal bonds
 

$48,678

 

($134
)
 

$—

 

$—

 

$48,678

 

($134
)
Corporate bonds
 
81,388

 
(440
)
 
1,768

 
(20
)
 
83,156

 
(460
)
Total
 

$130,066

 

($574
)
 

$1,768

 

($20
)
 

$131,834

 

($594
)
Number of securities with an unrealized loss
 
 
 
72

 
 
 
1

 
 
 
73

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
June 28, 2015
 
 
Less than 12 Months
 
Greater than 12 Months
 
Total
 
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Municipal bonds
 

$53,204

 

($341
)
 

$—

 

$—

 

$53,204

 

($341
)
Corporate bonds
 
46,636

 
(143
)
 
1,812

 
(15
)
 
48,448

 
(158
)
Total
 

$99,840

 

($484
)
 

$1,812

 

($15
)
 

$101,652

 

($499
)
Number of securities with an unrealized loss
 
 
 
54

 
 
 
1

 
 
 
55
Contractual Maturities of Short-term Investments by Type
The contractual maturities of short-term investments as of December 27, 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

$17,190

 

$143,765

 

$33,176

 

$—

 

$194,131

Corporate bonds
33,343

 
95,596

 
34,516

 
—

 
163,455

U.S. certificates of deposit
—

 
500

 
—

 
—

 
500

Non-U.S. certificates of deposit
168,481

 
—

 
—

 
—

 
168,481

Total short-term investments

$219,014

 

$239,861

 

$67,692

 

$—

 

$526,567