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Investments (Tables)
 3 Months Ended
Sep. 25, 2016
Investments, Debt and Equity Securities [Abstract]  
Summary of Short-term Investments by Type
The following tables summarize short-term investments (in thousands):
 
 
September 25, 2016
 
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated Fair Value
Municipal bonds
 

$183,585

 

$2,775

 

($50
)
 

$186,310

Corporate bonds
 
165,897

 
3,347

 
(43
)
 
169,201

Non-U.S. certificates of deposit
 
93,103

 
—

 
—

 
93,103

U.S. certificates of deposit
 
8,791

 
—

 
—

 
8,791

Commercial paper
 

$3,802

 

$—

 

$—

 
3,802

Total short-term investments
 

$455,178

 

$6,122

 

($93
)
 

$461,207

 
 
 
 
 
 
 
 
 
 
 
June 26, 2016
 
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated Fair Value
Municipal bonds
 

$186,893

 

$3,562

 

($15
)
 

$190,440

Corporate bonds
 
165,766

 
3,074

 
(73
)
 
168,767

Non-U.S. certificates of deposit
 
73,127

 
—

 
—

 
73,127

U.S. certificates of deposit
 
3,500

 
—

 
—

 
3,500

Commercial paper
 
3,317

 
—

 
—

 
3,317

Total short-term investments
 

$432,603

 

$6,636

 

($88
)
 

$439,151
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):
 
 
September 25, 2016
 
 
Less than 12 Months
 
Greater than 12 Months
 
Total
 
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Municipal bonds
 

$17,003

 

($41
)
 

$1,620

 

($9
)
 

$18,623

 

($50
)
Corporate bonds
 
12,632

 
(30
)
 
2,487

 
(13
)
 
15,119

 
(43
)
Total
 

$29,635

 

($71
)
 

$4,107

 

($22
)
 

$33,742

 

($93
)
Number of securities with an unrealized loss
 
 
 
30

 
 
 
3

 
 
 
33

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
June 26, 2016
 
 
Less than 12 Months
 
Greater than 12 Months
 
Total
 
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Municipal bonds
 

$2,936

 

($9
)
 

$3,535

 

($6
)
 

$6,471

 

($15
)
Corporate bonds
 
27,578

 
(73
)
 
—

 
—

 
27,578

 
(73
)
Total
 

$30,514

 

($82
)
 

$3,535

 

($6
)
 

$34,049

 

($88
)
Number of securities with an unrealized loss
 
 
 
22

 
 
 
3

 
 
 
25
Contractual Maturities of Short-term Investments by Type
The contractual maturities of short-term investments as of September 25, 2016 were as follows (in thousands):
 
 
Within One Year
 
After One, Within Five Years
 
After Five, Within Ten Years
 
After Ten Years
 
Total
Municipal bonds

$43,513

 

$110,598

 

$32,199

 

$—

 

$186,310

Corporate bonds
22,617

 
108,207

 
38,377

 
—

 
169,201

Non-U.S. certificates of deposit
93,103

 
—

 
—

 
—

 
93,103

U.S. certificates of deposit
5,791

 
3,000

 
—

 
—

 
8,791

Commercial paper

$3,802

 

$—

 

$—

 

$—

 
3,802

Total short-term investments

$168,826

 

$221,805

 

$70,576

 

$—

 

$461,207