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Investments (Tables)
 3 Months Ended
Sep. 24, 2017
Investments, Debt and Equity Securities [Abstract]  
Summary of Short-term Investments by Type
The following tables summarize short-term investments (in thousands):
 
 
September 24, 2017
 
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated Fair Value
Municipal bonds
 

$183,070

 

$2,247

 

($77
)
 

$185,240

Corporate bonds
 
171,326

 
1,830

 
(189
)
 
172,967

Non-U.S. certificates of deposit
 
112,478

 
31

 
—

 
112,509

Commercial paper
 
2,080

 
—

 
—

 
2,080

Total short-term investments
 

$468,954

 

$4,108

 

($266
)
 

$472,796

 
 
 
 
 
 
 
 
 
 
 
June 25, 2017
 
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated Fair Value
Municipal bonds
 

$177,890

 

$2,219

 

($68
)
 

$180,041

Corporate bonds
 
175,991

 
1,925

 
(195
)
 
177,721

Non-U.S. certificates of deposit
 
120,379

 
—

 
—

 
120,379

Commercial paper
 
200

 
—

 
—

 
200

Total short-term investments
 

$474,460

 

$4,144

 

($263
)
 

$478,341
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 24, 2017
 
 
Less than 12 Months
 
Greater than 12 Months
 
Total
 
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Municipal bonds
 

$22,844

 

($40
)
 

$3,795

 

($22
)
 

$26,639

 

($62
)
Corporate bonds
 
45,214

 
(159
)
 
5,572

 
(45
)
 
50,786

 
(204
)
Total
 

$68,058

 

($199
)
 

$9,367

 

($67
)
 

$77,425

 

($266
)
Number of securities with an unrealized loss
 
 
 
53

 
 
 
11
 
 
 
64

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
June 25, 2017
 
 
Less than 12 Months
 
Greater than 12 Months
 
Total
 
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Municipal bonds
 

$26,816

 

($68
)
 

$—

 

$—

 

$26,816

 

($68
)
Corporate bonds
 
57,404

 
(195
)
 
—

 
—

 
57,404

 
(195
)
Total
 

$84,220

 

($263
)
 

$—

 

$—

 

$84,220

 

($263
)
Number of securities with an unrealized loss
 
 
 
67

 
 
 
—

 
 
 
67
Contractual Maturities of Short-term Investments by Type
The contractual maturities of short-term investments as of September 24, 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

$45,350

 

$116,758

 

$23,132

 

$—

 

$185,240

Corporate bonds
33,399

 
107,050

 
32,518

 
—

 
172,967

Non-U.S. certificates of deposit
107,788

 
4,721

 
—

 
—

 
112,509

Commercial paper
2,080

 
—

 
—

 
—

 
2,080

Total short-term investments

$188,617

 

$228,529

 

$55,650

 

$—

 

$472,796