XML 28 R13.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Investments | 3 Months Ended
--- | ---
Sep. 23, 2018
Investments, Debt and Equity Securities [Abstract] |
Investments | Investments Investments consist of municipal bonds, corporate bonds, U.S. agency securities, U.S. treasury securities, variable rate demand notes, commercial paper and certificates of deposit. All short-term investments are classified as available-for-sale. Other long-term investments consist of the Company's ownership interest in Lextar. The following tables summarize short-term investments (in thousands):
|  | September 23, 2018
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Municipal bonds |  |  | $104,136 |  |  |  | $2 |  |  |  | ($1,222 | ) |  |  | $102,916 |
Corporate bonds |  | 146,526 |  |  | 35 |  |  | (1,159 | ) |  | 145,402 |
U.S. agency securities |  | 4,667 |  |  | — |  |  | (10 | ) |  | 4,657 |
U.S. treasury securities |  | 44,294 |  |  | — |  |  | (60 | ) |  | 44,234 |
Non-U.S. certificates of deposit |  | 29,136 |  |  | — |  |  | — |  |  | 29,136 |
U.S. certificates of deposit |  | 500 |  |  | — |  |  | — |  |  | 500 |
Variable rate demand note |  | 400 |  |  | — |  |  | — |  |  | 400 |
Commercial paper |  | 1,978 |  |  | — |  |  | — |  |  | 1,978 |
Total short-term investments |  |  | $331,637 |  |  |  | $37 |  |  |  | ($2,451 | ) |  |  | $329,223 |
|  | June 24, 2018
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Municipal bonds |  |  | $110,198 |  |  |  | $17 |  |  |  | ($939 | ) |  |  | $109,276 |
Corporate bonds |  | 77,871 |  |  | 36 |  |  | (1,150 | ) |  | 76,757 |
U.S. agency securities |  | 3,922 |  |  | — |  |  | (38 | ) |  | 3,884 |
U.S. treasury securities |  | — |  |  | — |  |  | — |  |  | — |
Non-U.S. certificates of deposit |  | 77,744 |  |  | — |  |  | — |  |  | 77,744 |
U.S. certificates of deposit |  | 500 |  |  | — |  |  | — |  |  | 500 |
Variable rate demand note |  | — |  |  | — |  |  | — |  |  | — |
Commercial paper |  | — |  |  | — |  |  | — |  |  | — |
Total short-term investments |  |  | $270,235 |  |  |  | $53 |  |  |  | ($2,127 | ) |  |  | $268,161 |
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 23, 2018
|  | Less than 12 Months |  | Greater than 12 Months |  | Total
|  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Municipal bonds |  |  | $84,371 |  |  |  | ($838 | ) |  |  | $15,303 |  |  |  | ($384 | ) |  |  | $99,674 |  |  |  | ($1,222 | )
Corporate bonds |  | 106,340 |  |  | (804 | ) |  | 12,584 |  |  | (355 | ) |  | 118,924 |  |  | (1,159 | )
U.S. agency securities |  | 6,156 |  |  | (10 | ) |  | — |  |  | — |  |  | 6,156 |  |  | (10 | )
U.S. treasury securities |  | 44,234 |  |  | (60 | ) |  | — |  |  | — |  |  | 44,234 |  |  | (60 | )
Total |  |  | $241,101 |  |  |  | ($1,712 | ) |  |  | $27,887 |  |  |  | ($739 | ) |  |  | $268,988 |  |  |  | ($2,451 | )
Number of securities with an unrealized loss |  |  |  | 231 |  |  |  |  | 27 |  |  |  | 258 |
|  | June 24, 2018
|  | Less than 12 Months |  | Greater than 12 Months |  | Total
|  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Municipal bonds |  |  | $97,470 |  |  |  | ($861 | ) |  |  | $3,642 |  |  |  | ($78 | ) |  |  | $101,112 |  |  |  | ($939 | )
Corporate bonds |  | 61,453 |  |  | (1,088 | ) |  | 1,486 |  |  | (62 | ) |  | 62,939 |  |  | (1,150 | )
U.S. agency securities |  | 3,884 |  |  | (38 | ) |  | — |  |  | — |  |  | 3,884 |  |  | (38 | )
U.S. treasury securities |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  |  | $162,807 |  |  |  | ($1,987 | ) |  |  | $5,128 |  |  |  | ($140 | ) |  |  | $167,935 |  |  |  | ($2,127 | )
Number of securities with an unrealized loss |  |  |  | 151 |  |  |  |  | 6 |  |  |  |  | 157 |
The Company utilizes specific identification in computing realized gains and losses on the sale of investments. Realized gains and losses from the sale of investments are included in non-operating expense, net in the consolidated statements of loss and unrealized gains and losses are included as a separate component of equity, net of tax, unless the loss is determined to be other-than-temporary. The Company evaluates its investments for possible impairment or a decline in fair value below cost basis that is deemed to be other-than-temporary on a periodic basis. It considers such factors as the length of time and extent to which the fair value has been below the cost basis, the financial condition of the investee, and its ability and intent to hold the investment for a period of time that may be sufficient for an anticipated full recovery in market value. Accordingly, the Company considered declines in its investments to be temporary in nature, and did not consider its securities to be impaired as of September 23, 2018 and June 24, 2018. The contractual maturities of short-term investments as of September 23, 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 |  | $23,117 |  |  |  | $79,799 |  |  |  | $— |  |  |  | $— |  |  |  | $102,916 |
Corporate bonds | 61,168 |  |  | 84,234 |  |  | — |  |  | — |  |  | 145,402 |
U.S. agency securities | 3,963 |  |  | 694 |  |  | — |  |  | — |  |  | 4,657 |
U.S. treasury securities | 40,351 |  |  | 3,883 |  |  | — |  |  | — |  |  | 44,234 |
Non-U.S. certificates of deposit | 28,385 |  |  | 751 |  |  | — |  |  | — |  |  | 29,136 |
U.S. certificates of deposit | 500 |  |  | — |  |  | — |  |  | — |  |  | 500 |
Variable rate demand note | — |  |  | — |  |  | — |  |  | 400 |  |  | 400 |
Commercial paper | 1,978 |  |  | — |  |  | — |  |  | — |  |  | 1,978 |
Total short-term investments |  | $159,462 |  |  |  | $169,361 |  |  |  | $— |  |  |  | $400 |  |  |  | $329,223 |

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration