Investments & Fair Value Measurements (Tables)

9 Months Ended

Jun. 29, 2018

Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]

Schedule Of Financial Assets and Liabilities Carried At Fair Value

	September 29, 2017
	Cost		Unrealized							Estimated Fair Value
			Gains		Losses			Total		Level 1		Level 2		Level 3
Cash and cash equivalents:
Cash	$	623,244						$	623,244
Cash equivalents:
Commercial paper	1,223		—		—			1,223				1,223
Money market funds	2,550		—		—			2,550		2,550
Cash and cash equivalents	627,017		—		—			627,017		2,550		1,223		—
Short-term investments:
Certificate of deposit (1)	17,236		9		(1		)	17,244				17,244
U.S. agency securities	9,518		—		(20		)	9,498				9,498
Government bonds	2,034		—		(6		)	2,028		2,028
Commercial paper	15,160		2		(1		)	15,161				15,161
Corporate bonds	174,750		54		(163		)	174,641				174,641
Municipal debt securities	29,178		16		(9		)	29,185				29,185
Short-term investments	247,876		81		(200		)	247,757		2,028		245,729		—
Long-term investments:
Certificate of deposit (1)	22,940		5		(6		)	22,939				22,939
U.S. agency securities	21,779		—		(178		)	21,601				21,601
Government bonds	17,839		—		(107		)	17,732		17,732
Corporate bonds	218,857		327		(537		)	218,647				218,647
Municipal debt securities	28,913		29		(25		)	28,917				28,917
Other long-term investments (2)	4,171		357		—			4,528		357				—
Long-term investments	314,499		718		(853		)	314,364		18,089		292,104		—
Total cash, cash equivalents, and investments	$	1,189,392	$	799	$	(1,053	)	$	1,189,138	$	22,667	$	539,056	$	—
Investments held in supplemental retirement plan:
Assets	3,026							3,026		3,026
Included in prepaid expenses and other current assets & other non-current assets
Liabilities	3,026							3,026		3,026
Included in accrued liabilities & other non-current liabilities

(1) Certificates of deposit include marketable securities, while those with a maturity in excess of one year as of September 29, 2017are classified within long-term investments.

(2) Other long-term investments as of September 29, 2017 include a marketable equity security of $0.4 million, and other investments that are not carried at fair value including an equity method investment of $0.6 million and two cost method equity investments of $3.0 million and $0.5 million.

Our cash and investment portfolio consisted of the following (in thousands):

	June 29, 2018
	Cost		Unrealized							Estimated Fair Value
			Gains		Losses			Total		Level 1		Level 2		Level 3
Cash and cash equivalents:
Cash	$	702,582						$	702,582
Cash equivalents:
Commercial paper	61,194		5		—			61,199				61,199
Corporate bonds	4,404		—		—			4,404				4,404
Money market funds	61,136							61,136		61,136
Municipal debt securities	300							300				300
Cash and cash equivalents	829,616		5		—			829,621		61,136		65,903		—
Short-term investments:
Certificate of deposit (1)	26,065		23					26,088				26,088
U.S. agency securities	2,802				(6		)	2,796				2,796
Government bonds	535							535		535
Commercial paper	5,517		—		(4		)	5,513				5,513
Corporate bonds	129,156		58		(474		)	128,740				128,740
Municipal debt securities	31,672		—		(60		)	31,612				31,612
Short-term investments	195,747		81		(544		)	195,284		535		194,749		—
Long-term investments:
U.S. agency securities	20,286				(327		)	19,959				19,959
Government bonds	14,962				(289		)	14,673		14,673
Corporate bonds	187,728		53		(2,310		)	185,471				185,471
Municipal debt securities	21,970		9		(75		)	21,904				21,903
Other long-term investments (2)	924		248					1,172		248
Long-term investments	245,870		310		(3,001		)	243,179		14,921		227,333		—
Total cash, cash equivalents, and investments	$	1,271,233	$	396	$	(3,545	)	$	1,268,084	$	76,592	$	487,985	$	—
Investments held in supplemental retirement plan:
Assets	3,318							3,318		3,318
Included in prepaid expenses and other current assets & other non-current assets
Liabilities	3,318							3,318		3,318
Included in accrued liabilities & other non-current liabilities

(1) Certificates of deposit include marketable securities, while those with a maturity in excess of one year as of June 29, 2018 are classified within long-term investments.

(2) Other long-term investments as of June 29, 2018 include a marketable equity security of $0.3 million, and other investments that are not carried at fair value including an equity method investment of $0.4 million and one cost method equity investment of $0.5 million. During the third quarter of fiscal 2018, we recorded a write-off charge to reduce the carrying value of a cost method equity investment to zero in recognition of an other-than-temporary impairment.

	September 29, 2017
	Cost		Unrealized							Estimated Fair Value
			Gains		Losses			Total		Level 1		Level 2		Level 3
Cash and cash equivalents:
Cash	$	623,244						$	623,244
Cash equivalents:
Commercial paper	1,223		—		—			1,223				1,223
Money market funds	2,550		—		—			2,550		2,550
Cash and cash equivalents	627,017		—		—			627,017		2,550		1,223		—
Short-term investments:
Certificate of deposit (1)	17,236		9		(1		)	17,244				17,244
U.S. agency securities	9,518		—		(20		)	9,498				9,498
Government bonds	2,034		—		(6		)	2,028		2,028
Commercial paper	15,160		2		(1		)	15,161				15,161
Corporate bonds	174,750		54		(163		)	174,641				174,641
Municipal debt securities	29,178		16		(9		)	29,185				29,185
Short-term investments	247,876		81		(200		)	247,757		2,028		245,729		—
Long-term investments:
Certificate of deposit (1)	22,940		5		(6		)	22,939				22,939
U.S. agency securities	21,779		—		(178		)	21,601				21,601
Government bonds	17,839		—		(107		)	17,732		17,732
Corporate bonds	218,857		327		(537		)	218,647				218,647
Municipal debt securities	28,913		29		(25		)	28,917				28,917
Other long-term investments (2)	4,171		357		—			4,528		357				—
Long-term investments	314,499		718		(853		)	314,364		18,089		292,104		—
Total cash, cash equivalents, and investments	$	1,189,392	$	799	$	(1,053	)	$	1,189,138	$	22,667	$	539,056	$	—
Investments held in supplemental retirement plan:
Assets	3,026							3,026		3,026
Included in prepaid expenses and other current assets & other non-current assets
Liabilities	3,026							3,026		3,026
Included in accrued liabilities & other non-current liabilities

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value

The following table presents the gross unrealized losses and fair value for those AFS securities that were in an unrealized loss position for less than twelve months and for twelve months or greater as of June 29, 2018 and September 29, 2017 (in thousands):

	June 29, 2018										September 29, 2017
	Less Than 12 Months					12 Months Or Greater					Less Than 12 Months					12 Months Or Greater
Investment Type	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Certificate of deposit											$	19,750	$	(6	)	$	—	$	—
U.S. agency securities	22,755		(333		)	—		—			19,713		(91		)	11,386		(108		)
Government bonds	14,673		(289		)	—		—			15,029		(64		)	4,729		(49		)
Commercial paper	4,418		(4		)	—		—			4,292		(1		)	—		—
Corporate bonds	221,466		(2,438		)	26,804		(347		)	125,890		(251		)	109,806		(449		)
Municipal debt securities	48,699		(135		)	—		—			26,749		(24		)	3,625		(10		)
Total	$	312,011	$	(3,199	)	$	26,804	$	(347	)	$	211,423	$	(437	)	$	129,546	$	(616	)

Available-for-sale Securities

The following table summarizes the amortized cost and estimated fair value of the AFS securities within our investment portfolio based on stated maturities as of June 29, 2018 and September 29, 2017, which are recorded within cash equivalents and both short and long-term investments in our consolidated balance sheets (in thousands):

	June 29, 2018				September 29, 2017
Range of maturity	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within 1 year	$	322,782	$	322,323	$	251,649	$	251,530
Due in 1 to 2 years	148,567		147,032		213,555		213,154
Due in 2 to 3 years	96,380		94,975		96,773		96,682
Total	$	567,729	$	564,330	$	561,977	$	561,366