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Investments & Fair Value Measurements (Tables)
 9 Months Ended
Jun. 28, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]  
Schedule Of Financial Assets and Liabilities Carried At Fair Value Our cash and investment portfolio consisted of the following (in thousands):
 
June 28, 2019
 
Cost
Unrealized
 
 
Estimated Fair Value
 
Gains
Losses
Total
 
Level 1
Level 2
Level 3
Cash and cash equivalents:








 






Cash
$
652,269

$
—

$
—

$
652,269

 
$
652,269

$
—

$
—

Cash equivalents:








 






Certificate of deposit (1)
12,376

—

—

12,376

 
—

12,376

—

Commercial paper
13,051

2

—

13,053

 
—

13,053

—

Corporate bonds
6,265

—

(1
)
6,264

 
—

6,264

—

Money market funds
15,084

—

—

15,084

 
15,084

—

—

Municipal debt securities
1,000

—

—

1,000

 
—

1,000

—

Government bonds
16,513

1

—

16,514

 
16,514

—

—

Cash and cash equivalents
716,558

3

(1
)
716,560


683,867

32,693

—

 
 
 
 
 
 
 
 
 
Short-term investments:








 






Certificate of deposit (1)
1,486

1

—

1,487

 
—

1,487

—

U.S. agency securities
6,272

10

(6
)
6,276

 
—

6,276

—

Government bonds
11,952

11

—

11,963

 
11,963

—

—

Commercial paper
6,472

13

—

6,485

 
—

6,485

—

Corporate bonds
82,230

51

(112
)
82,169

 
—

82,169

—

Municipal debt securities
12,345

14

(2
)
12,357

 
—

12,357

—

Short-term investments
120,757

100

(120
)
120,737


11,963

108,774

—

 
 
 
 
 
 
 
 
 
Long-term investments:








 






Asset backed securities
7,799

66

—

7,865

 
—

7,865

—

U.S. agency securities
11,895

134

(19
)
12,010

 
—

12,010

—

Government bonds
21,871

177

(36
)
22,012

 
22,012

—

—

Corporate bonds
154,196

1,563

(55
)
155,704

 
—

155,704

—

Municipal debt securities
11,809

103

(2
)
11,910

 
—

11,910

—

Other long-term investments (2)
1,851

—

—

1,851

 
7

—

—

Long-term investments
209,421

2,043

(112
)
211,352


22,019

187,489

—

 
 
 
 
 
 
 
 
 
Total cash, cash equivalents, and investments
$
1,046,736

$
2,146

$
(233
)
$
1,048,649

 
$
717,849

$
328,956

$
—

 
 
 
 
 
 
 
 
 
Investments held in supplemental retirement plan:
 
 
 
 
 
 
 
Assets
3,382

—

—

3,382

 
3,382

—

—

Included in prepaid expenses and other current assets & other non-current assets
 
 
 
 
 
Liabilities
3,382

—

—

3,382

 
3,382

—

—

Included in accrued liabilities & other non-current liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Currency derivatives as hedge instruments:
 
 
 
 
 
 
 
 
Assets
—

231

—

231

 
—

231

—

Included in other current assets
 
 
 
 
 
 
 
 
Liabilities
—

—

(47
)
(47
)
 
—

(47
)
—

Included in other accrued expenses
 
 
 
 
 
 
 
 
(1)
Certificates of deposit include marketable securities, while those with a maturity in excess of one year as of June 28, 2019 are classified within long-term investments.
(2)
Other long-term investments as of June 28, 2019 include investments that are not carried at fair value including an equity method investment of $1.8 million.

 
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, while 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.
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 28, 2019 and September 28, 2018 (in thousands):
 
June 28, 2019
 
September 28, 2018
 
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
$
2,300

$
—

$
—

$
—

 
$
—

$
—

$
—

$
—

U.S. agency securities
796

(3
)
7,074

(22
)
 
—

—

21,486

(302
)
Government bonds
16,649

(1
)
8,647

(36
)
 
16,633

(332
)
—

—

Commercial paper
—

—

—

—

 
5,737

(1
)
—

—

Corporate bonds
20,145

(30
)
53,766

(137
)
 
143,051

(1,680
)
52,162

(624
)
Municipal debt securities
1,683

—

4,299

(3
)
 
41,058

(191
)
6,965

(41
)
Total
$
41,573

$
(34
)
$
73,786

$
(198
)
 
$
206,479

$
(2,204
)
$
80,613

$
(967
)
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 28, 2019 and September 28, 2018, which are recorded within cash equivalents and both short and long-term investments in our consolidated balance sheets (in thousands):
 
June 28, 2019
 
September 28, 2018
Range of maturity
Amortized Cost
Fair Value
 
Amortized Cost
Fair Value
Due within 1 year
$
189,056

$
189,039

 
$
191,241

$
190,541

Due in 1 to 2 years
125,979

126,737

 
122,131

120,545

Due in 2 to 3 years
77,591

78,764

 
67,423

66,637

Total
$
392,626

$
394,540

 
$
380,795

$
377,723