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Investments (Tables) | 12 Months Ended
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Jun. 28, 2020
Investments, Debt and Equity Securities [Abstract] |
Schedule of Short-term Investments by Type | Short-term investments as of June 28, 2020 consist of the following:
| June 28, 2020 |  |  |  |  |  |
(in millions of U.S. Dollars) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses (1) |  | Estimated Fair Value
Municipal bonds | $130.0 |  |  | $2.0 |  |  | $— |  |  | $132.0 |
Corporate bonds | 473.8 |  |  | 6.3 |  |  | — |  |  | 480.1 |
U.S. agency securities | 29.1 |  |  | — |  |  | — |  |  | 29.1 |
U.S. treasury securities | 52.3 |  |  | 0.6 |  |  | — |  |  | 52.9 |
U.S. certificates of deposit | 95.3 |  |  | — |  |  | — |  |  | 95.3 |
Commercial paper | 11.0 |  |  | — |  |  | — |  |  | 11.0 |
Variable rate demand note | 2.5 |  |  | — |  |  | — |  |  | 2.5 |
Total short-term investments | $794.0 |  |  | $8.9 |  |  | $— |  |  | $802.9 |
(1) The Company had an unrealized loss of less than $0.1 million as of June 28, 2020. Short-term investments as of June 30, 2019 consist of the following:
| June 30, 2019 |  |  |  |  |  |
(in millions of U.S. Dollars) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Municipal bonds | $78.2 |  |  | 0.4 |  |  | ($0.1) |  |  | $78.5 |
Corporate bonds | 256.0 |  |  | 1.0 |  |  | — |  |  | 257.0 |
U.S. agency securities | 25.6 |  |  | — |  |  | — |  |  | 25.6 |
U.S. treasury securities | 92.4 |  |  | 0.1 |  |  |  |  | 92.5 |
Certificates of deposit | 71.5 |  |  | 1.1 |  |  | — |  |  | 72.6 |
Commercial paper | 7.8 |  |  | — |  |  | — |  |  | 7.8 |
Variable rate demand note | 16.9 |  |  | — |  |  | — |  |  | 16.9 |
Total short-term investments | $548.4 |  |  | 2.6 |  |  | ($0.1) |  |  | $550.9 |
Schedule of Gross Unrealized Losses and Fair Value of Short-term Investments by Type and Length of Time | The following table presents 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:
| June 28, 2020 |  |  |  |  |  |  |  |  |  |
| Less than 12 Months |  |  |  | Greater than 12 Months |  |  |  | Total |  |
(in millions of U.S. Dollars) | Fair Value |  | Unrealized Loss (1) |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Municipal bonds | $14.3 |  |  | $— |  |  | $— |  |  | $— |  |  | $14.3 |  |  | $— |
Corporate bonds | 29.1 |  |  | — |  |  | — |  |  | — |  |  | 29.1 |  |  | — |
U.S. agency securities | 8.6 |  |  | — |  |  | — |  |  | — |  |  | 8.6 |  |  | — |
U.S. treasury securities | 13.8 |  |  | — |  |  | — |  |  | — |  |  | 13.8 |  |  | — |
Total | $65.8 |  |  | $— |  |  | $— |  |  | $— |  |  | $65.8 |  |  | $— |
Number of securities with an unrealized loss |  |  | 46 |  |  |  |  | — |  |  |  |  | 46 |
(1) S ecurities with an unrealized loss of less than 12 months as of June 28, 2020 have an unrealized loss value of less than $0.1 million, individually and in the aggregate. The following table presents 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:
| June 30, 2019 |  |  |  |  |  |  |  |  |  |
| Less than 12 Months |  |  |  | Greater than 12 Months |  |  |  | Total |  |
(in millions of U.S. Dollars) | Fair Value |  | Unrealized Loss (1) |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Municipal bonds | $4.3 |  |  | $— |  |  | $29.8 |  |  | ($0.1) |  |  | $34.1 |  |  | ($0.1) |
Corporate bonds | 41.8 |  |  | — |  |  | 14.7 |  |  | — |  |  | 56.5 |  |  | — |
U.S. agency securities | 7.7 |  |  | — |  |  | — |  |  | — |  |  | 7.7 |  |  | — |
U.S. treasury securities | 2.0 |  |  | — |  |  | 3.9 |  |  | — |  |  | 5.9 |  |  | — |
Total | $55.8 |  |  | $— |  |  | $48.4 |  |  | ($0.1) |  |  | $104.2 |  |  | ($0.1) |
Number of securities with an unrealized loss |  |  | 46 |  |  |  |  | 47 |  |  |  |  | 93 |
(1) S ecurities with an unrealized loss of less than 12 months as of June 30, 2019 have an unrealized loss value of less than $0.1 million, individually and in the aggregate.
Schedule of Contractual Maturities of Short-term Investments by Type | The contractual maturities of short-term investments at June 28, 2020 were as follows:
(in millions of U.S. Dollars) | Within One Year |  | After One, Within Five Years |  | After Five, Within Ten Years |  | After Ten Years |  | Total
Municipal bonds | $29.4 |  |  | $102.6 |  |  | $— |  |  | $— |  |  | $132.0 |
Corporate bonds | 191.0 |  |  | 289.1 |  |  | — |  |  | — |  |  | 480.1 |
U.S. agency securities | 17.3 |  |  | 11.8 |  |  | — |  |  | — |  |  | 29.1 |
U.S. treasury securities | 36.1 |  |  | 16.8 |  |  | — |  |  | — |  |  | 52.9 |
Certificates of deposit | 95.3 |  |  | — |  |  | — |  |  | — |  |  | 95.3 |
Commercial paper | 11.0 |  |  | — |  |  | — |  |  | — |  |  | 11.0 |
Variable rate demand note | — |  |  | — |  |  | — |  |  | 2.5 |  |  | 2.5 |
Total short-term investments | $380.1 |  |  | $420.3 |  |  | $— |  |  | $2.5 |  |  | $802.9 |

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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. + References No definition available. + Details
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- Definition For all investments in an unrealized loss position, including those for which other-than-temporary impairments have not been recognized in earnings (including investments for which a portion of an other-than-temporary impairment has been recognized in other comprehensive income), a tabular disclosure of the aggregate related fair value of investments with unrealized losses and the aggregate amount of unrealized losses (that is, the amount by which amortized cost basis exceeds fair value). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121645371&loc=d3e27290-111563 + Details
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