Fair Value of Financial Instruments (Tables)

12 Months Ended

Jul. 02, 2021

Summary of Financial Assets Measured at Fair Value on Recurring Basis

During the fiscal year ended July 2, 2021, the Company received gross proceeds and recorded a loss on a cost-method investment of $1,538 and $426, respectively. The loss on sale of investment is included within Other expense (income), net in the Consolidated Statements of Operations and Comprehensive Income for the fiscal year ended July 2, 2021. The fair value of the investment was based on a quoted price of identical instruments in an active market and was recorded at cost within Other non-current assets in the Consolidated Balance Sheet prior to its sale. As of July 2, 2021, the Company had no financial instruments required to be measured at fair value.

The following table summarizes the Company’s financial assets measured at fair value on a recurring basis at July 3, 2020:


	Fair Value Measurements
	July 3, 2020		Level 1		Level 2		Level 3
Assets:


Certificates of deposit	$	10,006	$	—	$	10,006	$	—
U.S. equity securities	2,007		2,007		—		—

Total	$	12,013	$	2,007	$	10,006	$	—