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Investments (Tables) | 12 Months Ended
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Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract] |
Schedule of Short-term Investments | Short-term investments as of June 30, 2024 consist of the following:
| June 30, 2024
(in millions of U.S. Dollars) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Credit Loss Allowance |  | Estimated Fair Value
Corporate bonds | $423.5 |  |  | $0.2 |  |  | ($6.7) |  |  | $— |  |  | $417.0 |
U.S. treasury securities | 553.3 |  |  | — |  |  | (0.6) |  |  | — |  |  | 552.7 |
Municipal bonds | 102.8 |  |  | — |  |  | (2.0) |  |  | — |  |  | 100.8 |
Certificates of deposit | 31.5 |  |  | — |  |  | — |  |  | — |  |  | 31.5 |
U.S. agency securities | 10.0 |  |  | — |  |  | — |  |  | — |  |  | 10.0 |
Commercial paper | 16.7 |  |  | — |  |  | — |  |  | — |  |  | 16.7 |
Total short-term investments | $1,137.8 |  |  | $0.2 |  |  | ($9.3) |  |  | $— |  |  | $1,128.7 |
Short-term investments as of June 25, 2023 consist of the following:
| June 25, 2023
(in millions of U.S. Dollars) | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Credit Loss Allowance |  | Estimated Fair Value
Corporate bonds | $512.3 |  |  | $— |  |  | ($16.7) |  |  | $— |  |  | $495.6 |
Municipal bonds | 179.7 |  |  | — |  |  | (4.4) |  |  | — |  |  | 175.3 |
Variable rate demand notes | 27.3 |  |  | — |  |  | — |  |  | — |  |  | 27.3 |
U.S. treasury securities | 261.8 |  |  | — |  |  | (1.4) |  |  | — |  |  | 260.4 |
U.S. agency securities | 77.0 |  |  | — |  |  | (0.2) |  |  | — |  |  | 76.8 |
Commercial paper | 50.2 |  |  | — |  |  | — |  |  | — |  |  | 50.2 |
Certificates of deposit | 112.3 |  |  | — |  |  | — |  |  | — |  |  | 112.3 |
Total short-term investments | 1,220.6 |  |  | — |  |  | (22.7) |  |  | — |  |  | 1,197.9 |
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 30, 2024
| Less than 12 Months |  | Greater than 12 Months |  | Total
(in millions of U.S. Dollars) | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Corporate bonds | $135.2 |  |  | ($0.2) |  |  | $183.4 |  |  | ($6.5) |  |  | $318.6 |  |  | ($6.7) |
U.S. treasury securities | 507.4 |  |  | (0.4) |  |  | 35.9 |  |  | (0.2) |  |  | 543.3 |  |  | (0.6) |
Municipal bonds | 9.0 |  |  | — |  |  | 74.3 |  |  | (2.0) |  |  | 83.3 |  |  | (2.0) |
U.S. agency securities | 14.9 |  |  | — |  |  | 10.0 |  |  | — |  |  | 24.9 |  |  | — |
Total | $666.5 |  |  | ($0.6) |  |  | $303.6 |  |  | ($8.7) |  |  | $970.1 |  |  | ($9.3) |
Number of securities with an unrealized loss |  |  | 141 |  |  |  |  | 66 |  |  |  |  | 207 |
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 25, 2023
| Less than 12 Months |  | Greater than 12 Months |  | Total
(in millions of U.S. Dollars) | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Corporate bonds | $151.5 |  |  | ($0.5) |  |  | $324.1 |  |  | ($16.2) |  |  | $475.6 |  |  | ($16.7) |
Municipal bonds | 61.4 |  |  | (0.4) |  |  | 105.9 |  |  | (4.0) |  |  | 167.3 |  |  | (4.4) |
U.S. treasury securities | 229.3 |  |  | (0.5) |  |  | 31.1 |  |  | (0.9) |  |  | 260.4 |  |  | (1.4) |
U.S. agency securities | 74.8 |  |  | (0.2) |  |  | 2.0 |  |  | — |  |  | 76.8 |  |  | (0.2) |
Commercial paper | 3.9 |  |  | — |  |  | — |  |  | — |  |  | 3.9 |  |  | — |
Total | $520.9 |  |  | ($1.6) |  |  | $463.1 |  |  | ($21.1) |  |  | $984.0 |  |  | ($22.7) |
Number of securities with an unrealized loss |  |  | 95 |  |  |  |  | 234 |  |  |  |  | 329 |
Schedule of Contractual Maturities of Short-term Investments by Type | The contractual maturities of short-term investments at June 30, 2024 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 | $262.0 |  |  | $155.0 |  |  | $— |  |  | $— |  |  | $417.0 |
U.S. treasury securities | 538.0 |  |  | 14.7 |  |  | — |  |  | — |  |  | 552.7 |
Municipal bonds | 43.3 |  |  | 55.1 |  |  | — |  |  | 2.4 |  |  | 100.8 |
Certificates of deposit | 31.5 |  |  | — |  |  | — |  |  | — |  |  | 31.5 |
U.S. agency securities | 10.0 |  |  | — |  |  | — |  |  | — |  |  | 10.0 |
Commercial paper | 16.7 |  |  | — |  |  | — |  |  | — |  |  | 16.7 |
Total short-term investments | $901.5 |  |  | $224.8 |  |  | $— |  |  | $2.4 |  |  | $1,128.7 |

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