XML 36 R26.htm IDEA: XBRL DOCUMENT v3.22.2.2

Investments (Tables)

3 Months Ended

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

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 https://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 fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 30
-Section 55
-Paragraph 8
-URI https://asc.fasb.org/extlink&oid=121590138&loc=SL82922954-210456

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 50
-Paragraph 6
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126970911&loc=d3e27290-111563

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 30
-Section 50
-Paragraph 4
-URI https://asc.fasb.org/extlink&oid=124269663&loc=SL82922888-210455

+ Details

Name:	us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
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