XML 38 R27.htm IDEA: XBRL DOCUMENT v3.21.4

Investments (Tables)

6 Months Ended

Dec. 26, 2021

Investments, Debt and Equity Securities [Abstract]

Schedule of Short-term Investments by Type

Short-term investments as of December 26, 2021 and June 27, 2021 consisted of the following:

						December 26, 2021
						Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Credit Loss Allowance						Estimated Fair Value
Municipal bonds						$132.4						$1.1						($0.3)						$—						$133.2
Corporate bonds						312.4						1.1						(1.3)						—						312.2
U.S. agency securities						4.0						—						—						—						4.0
U.S. treasury securities						12.7						0.1						—						—						12.8
Commercial paper						21.0						—						—						—						21.0
Variable rate demand notes						17.9						—						—						—						17.9
Total short-term investments						$500.4						$2.3						($1.6)						$—						$501.1
						June 27, 2021
						Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Credit Loss Allowance						Estimated Fair Value
Municipal bonds						$139.4						$1.9						$—						$—						$141.3
Corporate bonds						456.5						3.3						(0.3)						—						459.5
U.S. agency securities						15.8						—						—						—						15.8
U.S. treasury securities						72.3						0.3						(0.1)						—						72.5
Certificates of deposit						16.5						—						—						—						16.5
Commercial paper						50.0						—						—						—						50.0
Variable rate demand notes						20.0						—						—						—						20.0
Total short-term investments						$770.5						$5.5						($0.4)						$—						$775.6

Schedule of Gross Unrealized Losses and Fair Value of Short-term Investments by 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:

						December 26, 2021
						Less than 12 Months												Greater than 12 Months												Total
						Fair Value						Unrealized Loss						Fair Value						Unrealized Loss						Fair Value						Unrealized Loss
Municipal bonds						$41.8						($0.3)						$—						$—						$41.8						($0.3)
Corporate bonds						180.3						(1.3)						—						—						180.3						(1.3)
U.S. agency securities						4.0						—						—						—						4.0						—
U.S. treasury securities						2.0						—						—						—						2.0						—
Total						$228.1						($1.6)						$—						$—						$228.1						($1.6)
Number of securities with an unrealized loss												111												—												111
						June 27, 2021
						Less than 12 Months												Greater than 12 Months												Total
						Fair Value						Unrealized Loss						Fair Value						Unrealized Loss						Fair Value						Unrealized Loss
Municipal bonds						$28.8						$—						$—						$—						$28.8						$—
Corporate bonds						133.8						(0.3)						—						—						133.8						(0.3)
U.S. agency securities						16.7						—						—						—						16.7						—
U.S. treasury securities						47.9						(0.1)						—						—						47.9						(0.1)
Certificates of deposit						0.7						—						—						—						0.7						—
Total						$227.9						($0.4)						$—						$—						$227.9						($0.4)
Number of securities with an unrealized loss												134												—												134

Schedule of Contractual Maturities of Short-term Investments by Type

The contractual maturities of short-term investments as of December 26, 2021 were as follows:

 

						Within One Year						After One, Within Five Years						After Five, Within Ten Years						After Ten Years						Total
Municipal bonds						$36.4						$96.8						$—						$—						$133.2
Corporate bonds						58.9						253.3						—						—						312.2
U.S. agency securities						2.0						2.0						—						—						4.0
U.S. treasury securities						4.0						8.8						—						—						12.8
Commercial paper						21.0						—						—						—						21.0
Variable rate demand notes						—						—						—						17.9						17.9
Total short-term investments						$122.3						$360.9						$—						$17.9						$501.1

X

- 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

Name:	us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

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

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=123581744&loc=d3e27290-111563

+ Details

Name:	us-gaap_ScheduleOfUnrealizedLossOnInvestmentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration