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Investments (Tables) | 6 Months Ended
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Dec. 31, 2023
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 31, 2023
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Credit Loss Allowance |  | Estimated Fair Value
U.S. treasury securities |  | $888.5 |  |  | $1.3 |  |  | ($0.4) |  |  | $— |  |  | $889.4 |
Corporate bonds |  | 478.7 |  |  | 1.0 |  |  | (9.3) |  |  | — |  |  | 470.4 |
Municipal bonds |  | 137.9 |  |  | 0.2 |  |  | (2.5) |  |  | — |  |  | 135.6 |
Commercial paper |  | 90.1 |  |  | — |  |  | — |  |  | — |  |  | 90.1 |
Certificates of deposit |  | 60.1 |  |  | — |  |  | — |  |  | — |  |  | 60.1 |
U.S. agency securities |  | 58.5 |  |  | — |  |  | (0.1) |  |  | — |  |  | 58.4 |
Variable rate demand notes |  | 27.3 |  |  | — |  |  | — |  |  | — |  |  | 27.3 |
Total short-term investments |  | $1,741.1 |  |  | $2.5 |  |  | ($12.3) |  |  | $— |  |  | $1,731.3 |
|  | June 25, 2023
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Credit Loss Allowance |  | Estimated Fair Value
Corporate bonds |  | $512.3 |  |  | $— |  |  | ($16.7) |  |  | $— |  |  | $495.6 |
U.S. treasury securities |  | 261.8 |  |  | — |  |  | (1.4) |  |  | — |  |  | 260.4 |
Municipal bonds |  | 179.7 |  |  | — |  |  | (4.4) |  |  | — |  |  | 175.3 |
Certificates of deposit |  | 112.3 |  |  | — |  |  | — |  |  | — |  |  | 112.3 |
U.S. agency securities |  | 77.0 |  |  | — |  |  | (0.2) |  |  | — |  |  | 76.8 |
Commercial paper |  | 50.2 |  |  | — |  |  | — |  |  | — |  |  | 50.2 |
Variable rate demand notes |  | 27.3 |  |  | — |  |  | — |  |  | — |  |  | 27.3 |
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 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 31, 2023
|  | Less than 12 Months |  | Greater than 12 Months |  | Total
|  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss
Corporate bonds |  | $47.6 |  |  | ($0.1) |  |  | $280.8 |  |  | ($9.2) |  |  | $328.4 |  |  | ($9.3) |
U.S. treasury securities |  | 119.1 |  |  | (0.1) |  |  | 19.6 |  |  | (0.3) |  |  | 138.7 |  |  | (0.4) |
Municipal bonds |  | 17.1 |  |  | (0.1) |  |  | 84.0 |  |  | (2.5) |  |  | 101.1 |  |  | (2.6) |
U.S. agency securities |  | 58.5 |  |  | — |  |  | — |  |  | — |  |  | 58.5 |  |  | — |
Total |  | $242.3 |  |  | ($0.3) |  |  | $384.4 |  |  | ($12.0) |  |  | $626.7 |  |  | ($12.3) |
Number of securities with an unrealized loss |  |  |  | 43 |  |  |  |  | 192 |  |  |  |  | 235 |
|  | June 25, 2023
|  | Less than 12 Months |  | Greater than 12 Months |  | Total
|  | 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) |
U.S. treasury securities |  | 229.3 |  |  | (0.5) |  |  | 31.1 |  |  | (0.9) |  |  | 260.4 |  |  | (1.4) |
Municipal bonds |  | 61.4 |  |  | (0.4) |  |  | 105.9 |  |  | (4.0) |  |  | 167.3 |  |  | (4.4) |
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 as of December 31, 2023 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
U.S. treasury securities |  | $780.6 |  |  | $108.8 |  |  | $— |  |  | $— |  |  | $889.4 |
Corporate bonds |  | 214.1 |  |  | 256.3 |  |  | — |  |  | — |  |  | 470.4 |
Municipal bonds |  | 57.8 |  |  | 75.4 |  |  | — |  |  | 2.4 |  |  | 135.6 |
Commercial paper |  | 90.1 |  |  | — |  |  | — |  |  | — |  |  | 90.1 |
Certificates of deposit |  | 60.1 |  |  | — |  |  | — |  |  | — |  |  | 60.1 |
U.S. agency securities |  | 58.4 |  |  | — |  |  | — |  |  | — |  |  | 58.4 |
Variable rate demand notes |  | — |  |  | — |  |  | 10.7 |  |  | 16.6 |  |  | 27.3 |
Total short-term investments |  | $1,261.1 |  |  | $440.5 |  |  | $10.7 |  |  | $19.0 |  |  | $1,731.3 |

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