XML 45 R31.htm IDEA: XBRL DOCUMENT v3.10.0.1
Investments and Fair Value Measurements (Tables)
 12 Months Ended
Sep. 28, 2018
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured on Recurring Basis
Our cash and investment portfolio consisted of the following (in thousands):
 
September 28,
2018
 
Cost
Unrealized
 
 
Estimated Fair Value
 
Gains
Losses
Total
 
Level 1
Level 2
Level 3
Cash and cash equivalents:








 






Cash
$
905,660





$
905,660

 
$
905,660





Cash equivalents:








 






Commercial paper
5,058

—

—

5,058

 


5,058



Corporate bonds
1,005



—

1,005

 


1,005



Money market funds
3,301





3,301

 
3,301





Municipal debt securities
545



(1
)
544

 


544



Government bonds
2,495

—



2,495

 
2,495





Cash and cash equivalents
918,064

—

(1
)
918,063

 
911,456

6,607

—










 






Short-term investments:








 






Certificate of deposit (1)
12,875

14



12,889

 


12,889



U.S. agency securities
11,997



(135
)
11,862

 


11,862



Government bonds
7,970

—

(15
)
7,955

 
7,955





Commercial paper
4,276

—

—

4,276

 


4,276



Corporate bonds
111,245

50

(494
)
110,801

 


110,801



Municipal debt securities
30,475



(120
)
30,355

 


30,355



Short-term investments
178,838

64

(764
)
178,138

 
7,955

170,183

—










 






Long-term investments:








 






U.S. agency securities
9,791



(166
)
9,625

 


9,625



Government bonds
15,966



(317
)
15,649

 
15,649





Corporate bonds
146,561

33

(1,810
)
144,784

 


144,784



Municipal debt securities
17,235



(112
)
17,123

 


17,123



Other long-term investments (2)
355

246



601

 
246





Long-term investments
189,908

279

(2,405
)
187,782

 
15,895

171,532

—










 






Total cash, cash equivalents, and investments
$
1,286,810

$
343

$
(3,170
)
$
1,283,983

 
$
935,306

$
348,322

$
—

 
 
 
 
 
 
 
 
 
Investments held in supplemental retirement plan:
 
 
 
 
 
 
 
 
Assets
3,486





3,486

 
3,486





Included in prepaid expenses and other current assets & other non-current assets
 
 
 
 
 
Liabilities
3,486





3,486

 
3,486





Included in accrued liabilities & other non-current liabilities
 
 
 
 
 
(1)
Certificates of deposit include marketable securities and those with a maturity in excess of one year as of September 28, 2018 are classified within long-term investments.
(2)
Other long-term investments as of September 28, 2018 include a marketable equity security of $0.2 million, and other investments that are not carried at fair value including an equity method investment of $0.4 million. During fiscal 2018, we recorded write-off charges to reduce the carrying value of two cost method equity investments to zero in recognition of an other-than-temporary impairment for each investment.
 
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 and those with a maturity in excess of one year as of September 29, 2017 are 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.
Available for sale Securities, Unrealized Loss Position
The following table presents the gross unrealized losses and fair value for those AFS securities that were in an unrealized loss position as of September 28, 2018 and September 29, 2017 (in thousands):
 
September 28, 2018
 
September 29, 2017
 
Less Than 12 Months
Greater Than 12 Months
 
Less Than 12 Months
Greater Than 12 Months
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
—

—

21,486

(302
)
 
19,713

(91
)
11,386

(108
)
Government bonds
16,633

(332
)
—

—

 
15,029

(64
)
4,729

(49
)
Commercial paper
5,737

(1
)
—

—

 
4,292

(1
)
—

—

Corporate bonds
143,051

(1,680
)
52,162

(624
)
 
125,890

(251
)
109,806

(449
)
Municipal debt securities
41,058

(191
)
6,965

(41
)
 
26,749

(24
)
3,625

(10
)
Total
$
206,479

$
(2,204
)
$
80,613

$
(967
)
 
$
211,423

$
(437
)
$
129,546

$
(616
)
Available-for-sale Securities
Investment Maturities.    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 September 28, 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):
 
September 28, 2018
 
September 29, 2017
Range of maturity
Amortized Cost
Fair Value
 
Amortized Cost
Fair Value
Due within 1 year
$
191,241

$
190,541

 
$
251,649

$
251,530

Due in 1 to 2 years
122,131

120,545

 
213,555

213,154

Due in 2 to 3 years
67,423

66,637

 
96,773

96,682

Total
$
380,795

$
377,723

 
$
561,977

$
561,366