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Investments (Tables)
 9 Months Ended
Mar. 26, 2017
Investments, Debt and Equity Securities [Abstract]  
Summary of Short-term Investments by Type
The following tables summarize short-term investments (in thousands):
 
 
March 26, 2017
 
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated Fair Value
Municipal bonds
 

$182,500

 

$1,266

 

($218
)
 

$183,548

Corporate bonds
 
168,792

 
1,254

 
(477
)
 
169,569

Non-U.S. certificates of deposit
 
109,901

 
—

 
—

 
109,901

U.S. certificates of deposit
 
11,087

 
—

 
—

 
11,087

Commercial paper
 
678

 
—

 
—

 
678

Total short-term investments
 

$472,958

 

$2,520

 

($695
)
 

$474,783

 
 
 
 
 
 
 
 
 
 
 
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):
 
 
March 26, 2017
 
 
Less than 12 Months
 
Greater than 12 Months
 
Total
 
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Municipal bonds
 

$51,923

 

($218
)
 

$—

 

$—

 

$51,923

 

($218
)
Corporate bonds
 
65,492

 
(477
)
 
—

 
—

 
65,492

 
(477
)
Total
 

$117,415

 

($695
)
 

$—

 

$—

 

$117,415

 

($695
)
Number of securities with an unrealized loss
 
 
 
85

 
 
 
0
 
 
 
85

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 March 26, 2017 were as follows (in thousands):
 
 
Within One Year
 
After One, Within Five Years
 
After Five, Within Ten Years
 
After Ten
Years
 
Total
Municipal bonds

$46,459

 

$108,079

 

$29,010

 

$—

 

$183,548

Corporate bonds
50,835

 
83,479

 
35,255

 
—

 
169,569

Non-U.S. certificates of deposit
109,901

 
—

 
—

 
—

 
109,901

U.S. certificates of deposit
6,365

 
4,722

 
—

 
—

 
11,087

Commercial paper
678

 
—

 
—

 
—

 
678

Total short-term investments

$214,238

 

$196,280

 

$64,265

 

$—

 

$474,783