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

$178,985

 

$815

 

($1,025
)
 

$178,775

Corporate bonds
 
172,410

 
1,161

 
(761
)
 
172,810

U.S. agency securities
 
3,921

 
—

 
(7
)
 
3,914

Non-U.S. certificates of deposit
 
122,634

 
—

 
—

 
122,634

Commercial paper
 
2,088

 
—

 
—

 
2,088

Total short-term investments
 

$480,038

 

$1,976

 

($1,793
)
 

$480,221

 
 
 
 
 
 
 
 
 
 
 
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

U.S. agency securities
 
—

 
—

 
—

 
—

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):
 
 
December 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
 

$115,005

 

($897
)
 

$7,821

 

($90
)
 

$122,826

 

($987
)
Corporate bonds
 
100,236

 
(563
)
 
12,808

 
(237
)
 
113,044

 
(800
)
U.S. agency securities
 
3,914

 
(7
)
 
—

 
—

 
3,914

 
(7
)
Total
 

$219,155

 

($1,467
)
 

$20,629

 

($327
)
 

$239,784

 

($1,794
)
Number of securities with an unrealized loss
 
 
 
148

 
 
 
23
 
 
 
171

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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
)
U.S. agency securities
 
—

 
—

 
—

 
—

 
—

 
—

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 December 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

$1,526

 

$130,557

 

$35,186

 

$11,506

 

$178,775

Corporate bonds
4,759

 
97,126

 
62,274

 
8,651

 
172,810

U.S. agency securities
—

 
3,914

 
—

 
—

 
3,914

Non-U.S. certificates of deposit
114,911

 
7,723

 
—

 
—

 
122,634

Commercial paper
2,088

 
—

 
—

 
—

 
2,088

Total short-term investments

$123,284

 

$239,320

 

$97,460

 

$20,157

 

$480,221