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Investments (Tables) | 6 Months Ended
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Dec. 25, 2022
Investments, Debt and Equity Securities [Abstract] |
Schedule of Short-term Investments by Type | Short-term investments consisted of the following (in millions of U.S. Dollars):
|  | December 25, 2022
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Credit Loss Allowance |  | Estimated Fair Value
Corporate bonds |  | $618.2 |  |  | $0.1 |  |  | ($20.2) |  |  | $— |  |  | $598.1 |
U.S. treasury securities |  | 251.2 |  |  | — |  |  | (1.1) |  |  | — |  |  | 250.1 |
Certificates of deposit |  | 196.9 |  |  | — |  |  | — |  |  | — |  |  | 196.9 |
Municipal bonds |  | 180.6 |  |  | 0.1 |  |  | (5.0) |  |  | — |  |  | 175.7 |
Variable rate demand notes |  | 94.4 |  |  | — |  |  | — |  |  | — |  |  | 94.4 |
Commercial paper |  | 64.0 |  |  | — |  |  | — |  |  | — |  |  | 64.0 |
U.S. agency securities |  | 20.2 |  |  | — |  |  | (0.1) |  |  | — |  |  | 20.1 |
Total short-term investments |  | $1,425.5 |  |  | $0.2 |  |  | ($26.4) |  |  | $— |  |  | $1,399.3 |
|  | 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 |
All short-term investments are classified as available-for-sale. The Company did not have any long-term investments as of December 25, 2022 and June 26, 2022.
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):
|  | December 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 |  | $361.0 |  |  | ($12.1) |  |  | $146.4 |  |  | ($8.1) |  |  | $507.4 |  |  | ($20.2) |
Municipal bonds |  | 108.5 |  |  | (3.2) |  |  | 35.7 |  |  | (1.8) |  |  | 144.2 |  |  | (5.0) |
U.S. treasury securities |  | 133.6 |  |  | (1.1) |  |  | — |  |  | — |  |  | 133.6 |  |  | (1.1) |
U.S. agency securities |  | 5.0 |  |  | — |  |  | 1.9 |  |  | (0.1) |  |  | 6.9 |  |  | (0.1) |
Total |  | $608.1 |  |  | ($16.4) |  |  | $184.0 |  |  | ($10.0) |  |  | $792.1 |  |  | ($26.4) |
Number of securities with an unrealized loss |  |  |  | 265 |  |  |  |  | 90 |  |  |  |  | 355 |
|  | 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 December 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 |  | $298.0 |  |  | $300.1 |  |  | $— |  |  | $— |  |  | $598.1 |
U.S. treasury securities |  | 196.8 |  |  | 53.3 |  |  | — |  |  | — |  |  | 250.1 |
Certificates of deposit |  | 196.9 |  |  | — |  |  | — |  |  | — |  |  | 196.9 |
Municipal bonds |  | 66.1 |  |  | 109.6 |  |  | — |  |  | — |  |  | 175.7 |
Variable rate demand notes |  | — |  |  | — |  |  | 14.7 |  |  | 79.7 |  |  | 94.4 |
Commercial paper |  | 64.0 |  |  | — |  |  | — |  |  | — |  |  | 64.0 |
U.S. agency securities |  | 15.1 |  |  | 5.0 |  |  | — |  |  | — |  |  | 20.1 |
Total short-term investments |  | $836.9 |  |  | $468.0 |  |  | $14.7 |  |  | $79.7 |  |  | $1,399.3 |

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