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v3.22.2.2

Investments (Tables) | 3 Months Ended
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Sep. 25, 2022
Investments, Debt and Equity Securities [Abstract] |
Schedule of Short-term Investments by Type | Short-term investments as of September 25, 2022 and June 26, 2022 consisted of the following (in millions of U.S. Dollars):
|  | September 25, 2022
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Credit Loss Allowance |  | Estimated Fair Value
Corporate bonds |  | $439.3 |  |  | $— |  |  | ($22.4) |  |  | $— |  |  | $416.9 |
Municipal bonds |  | 156.9 |  |  | — |  |  | (6.2) |  |  | — |  |  | 150.7 |
U.S. treasury securities |  | 56.5 |  |  | — |  |  | (1.2) |  |  | — |  |  | 55.3 |
Variable rate demand notes |  | 50.8 |  |  | — |  |  | — |  |  | — |  |  | 50.8 |
U.S. agency securities |  | 2.0 |  |  | — |  |  | (0.1) |  |  | — |  |  | 1.9 |
Total short-term investments |  | $705.5 |  |  | $— |  |  | ($29.9) |  |  | $— |  |  | $675.6 |
|  | June 26, 2022
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Credit Loss Allowance |  | Estimated Fair Value
Corporate bonds |  | $465.8 |  |  | $— |  |  | ($17.8) |  |  | $— |  |  | $448.0 |
Municipal bonds |  | 166.5 |  |  | 0.1 |  |  | (4.4) |  |  | — |  |  | 162.2 |
U.S. treasury securities |  | 66.5 |  |  | — |  |  | (0.7) |  |  | — |  |  | 65.8 |
Variable rate demand notes |  | 69.4 |  |  | — |  |  | — |  |  | — |  |  | 69.4 |
U.S. agency securities |  | 4.0 |  |  | — |  |  | (0.1) |  |  | — |  |  | 3.9 |
Total short-term investments |  | $772.2 |  |  | $0.1 |  |  | ($23.0) |  |  | $— |  |  | $749.3 |
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 (in millions of U.S. Dollars):
|  | September 25, 2022
|  | Less than 12 Months |  | Greater than 12 Months |  | Total
|  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Corporate bonds |  | $376.5 |  |  | ($20.3) |  |  | $39.8 |  |  | ($2.1) |  |  | $416.3 |  |  | ($22.4) |
Municipal bonds |  | 146.3 |  |  | (6.1) |  |  | 2.9 |  |  | (0.1) |  |  | 149.2 |  |  | (6.2) |
U.S. treasury securities |  | 55.3 |  |  | (1.2) |  |  | — |  |  | — |  |  | 55.3 |  |  | (1.2) |
U.S. agency securities |  | — |  |  | — |  |  | 1.9 |  |  | (0.1) |  |  | 1.9 |  |  | (0.1) |
Total |  | $578.1 |  |  | ($27.6) |  |  | $44.6 |  |  | ($2.3) |  |  | $622.7 |  |  | ($29.9) |
Number of securities with an unrealized loss |  |  |  | 305 |  |  |  |  | 27 |  |  |  |  | 332 |
|  | June 26, 2022
|  | Less than 12 Months |  | Greater than 12 Months |  | Total
|  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Corporate bonds |  | $431.1 |  |  | ($17.4) |  |  | $8.3 |  |  | ($0.4) |  |  | $439.4 |  |  | ($17.8) |
Municipal bonds |  | 150.0 |  |  | (4.4) |  |  | 1.0 |  |  | — |  |  | 151.0 |  |  | (4.4) |
U.S. treasury securities |  | 65.8 |  |  | (0.7) |  |  | — |  |  | — |  |  | 65.8 |  |  | (0.7) |
U.S. agency securities |  | 3.9 |  |  | (0.1) |  |  | — |  |  | — |  |  | 3.9 |  |  | (0.1) |
Total |  | $650.8 |  |  | ($22.6) |  |  | $9.3 |  |  | ($0.4) |  |  | $660.1 |  |  | ($23.0) |
Number of securities with an unrealized loss |  |  |  | 346 |  |  |  |  | 5 |  |  |  |  | 351 |
Schedule of Contractual Maturities of Short-term Investments by Type | The contractual maturities of short-term investments as of September 25, 2022 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
Corporate bonds |  | $124.5 |  |  | $292.4 |  |  | $— |  |  | $— |  |  | $416.9 |
Municipal bonds |  | 52.3 |  |  | 98.4 |  |  | — |  |  | — |  |  | 150.7 |
U.S. treasury securities |  | 29.4 |  |  | 25.9 |  |  | — |  |  | — |  |  | 55.3 |
Variable rate demand notes |  | — |  |  | — |  |  | 14.7 |  |  | 36.1 |  |  | 50.8 |
U.S. agency securities |  | — |  |  | 1.9 |  |  | — |  |  | — |  |  | 1.9 |
Total short-term investments |  | $206.2 |  |  | $418.6 |  |  | $14.7 |  |  | $36.1 |  |  | $675.6 |

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