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Investments (Tables)
 9 Months Ended
Mar. 25, 2018
Investments, Debt and Equity Securities [Abstract]  
Summary of Short-term Investments by Type
The following tables summarize short-term investments (in thousands):
 
 
March 25, 2018
 
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated Fair Value
Municipal bonds
 

$110,504

 

$6

 

($1,122
)
 

$109,388

Corporate bonds
 
68,238

 
36

 
(978
)
 
67,296

U.S. agency securities
 
3,921

 
—

 
(28
)
 
3,893

Non-U.S. certificates of deposit
 
117,566

 
—

 
—

 
117,566

Commercial paper
 
2,096

 
—

 
—

 
2,096

Total short-term investments
 

$302,325

 

$42

 

($2,128
)
 

$300,239

 
 
 
 
 
 
 
 
 
 
 
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):
 
 
March 25, 2018
 
 
Less than 12 Months
 
Greater than 12 Months
 
Total
 
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Municipal bonds
 

$98,251

 

($988
)
 

$3,666

 

($87
)
 

$101,917

 

($1,075
)
Corporate bonds
 
56,160

 
(967
)
 
1,493

 
(58
)
 
57,653

 
(1,025
)
U.S. agency securities
 
8,515

 
(28
)
 
—

 
—

 
8,515

 
(28
)
Total
 

$162,926

 

($1,983
)
 

$5,159

 

($145
)
 

$168,085

 

($2,128
)
Number of securities with an unrealized loss
 
 
 
134

 
 
 
6
 
 
 
140

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 March 25, 2018 were as follows (in thousands):
 
 
Within One Year
 
After One, Within Five Years
 
After Five, Within Ten Years
 
After Ten
Years
 
Total
Municipal bonds

$—

 

$109,388

 

$—

 

$—

 

$109,388

Corporate bonds
4,161

 
55,705

 
7,430

 
—

 
67,296

U.S. agency securities
—

 
3,893

 
—

 
—

 
3,893

Non-U.S. certificates of deposit
112,842

 
4,724

 
—

 
—

 
117,566

Commercial paper
2,096

 
—

 
—

 
—

 
2,096

Total short-term investments

$119,099

 

$173,710

 

$7,430

 

$—

 

$300,239