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Cash, Cash Equivalents and Short-term Investments
 3 Months Ended
Oct. 02, 2021
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents and Short-term Investments
Note 4. Cash, Cash Equivalents and Short-term Investments
The following table summarizes our cash, cash equivalents and short-term investments by category for the periods presented (in millions):
Amortized
Cost		 Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
October 2, 2021:
Cash$196.1 $— $— $196.1 
Cash equivalents:
Money market funds204.7 — — 204.7 
U.S. Treasury securities210.2 — — 210.2 
Total cash and cash equivalents$611.0 $— $— $611.0 
Short-term investments:
Certificates of deposit$28.5 $— $— $28.5 
Commercial paper124.8 — — 124.8 
Corporate debt securities671.3 0.3 (0.2)671.4 
Municipal bonds2.0 — — 2.0 
U.S. Agency securities28.2 — — 28.2 
U.S. Treasury securities418.6 0.1 — 418.7 
Total short-term investments$1,273.4 $0.4 $(0.2)$1,273.6 
July 3, 2021:
Cash$128.3 $— $— $128.3 
Cash equivalents:
Commercial paper7.5 — — 7.5 
Corporate debt securities7.0 — — 7.0 
Money market funds631.5 — — 631.5 
Total cash and cash equivalents$774.3 $— $— $774.3 
Short-term investments:
Certificates of deposit$28.5 $— $— $28.5 
Commercial paper136.7 — — 136.7 
Corporate debt securities626.0 0.3 (0.4)625.9 
Municipal bonds1.0 — — 1.0 
U.S. Agency securities29.3 — — 29.3 
U.S. Treasury securities350.3 — — 350.3 
Total short-term investments$1,171.8 $0.3 $(0.4)$1,171.7 
We use the specific-identification method to determine any realized gains or losses from the sale of our short-term investments classified as available-for-sale. During the three months ended October 2, 2021 and September 26, 2020, we did not realize significant gains or losses on a gross level from the sale of our short-term investments classified as available-for-sale.
During the three months ended October 2, 2021 and September 26, 2020, our other income (expense), net was $0.6 million and $0.6 million, respectively, which includes interest and investment income on cash equivalents and short-term investments of $0.6 million and $2.4 million, respectively. As of October 2, 2021 and July 3, 2021, we recorded interest receivable of $4.1 million and $4.1 million, respectively, in prepayments and other current assets within the Consolidated Balance Sheets. We did not recognize an allowance for credit losses against interest receivables in any of the periods presented as there were no such losses.
As of October 2, 2021 and July 3, 2021, the Company does not have any cash equivalents and short-term investments that have been in a continuous unrealized gain or loss position for more than 12 months as of the periods presented. The following table summarizes unrealized losses on our cash equivalents and short-term investments by category that have been in a continuous unrealized loss position for less than 12 months as of the periods presented (in millions):
Fair ValueUnrealized Losses
October 2, 2021:
Commercial paper$24.5 $— 
Corporate debt securities329.6 (0.2)
Municipal bonds1.0 — 
U.S. government bonds338.2 — 
Total $693.3 $(0.2)
July 3, 2021:
U.S. Agency securities$28.3 $— 
Certificates of deposit6.0 — 
Commercial paper43.0 — 
Corporate debt securities432.3 (0.4)
Municipal bonds1.0 — 
U.S. government bonds106.9 — 
Total$617.5 $(0.4)
The following table classifies our short-term investments by contractual maturities (in millions): 
October 2, 2021July 3, 2021
Amortized CostFair ValueAmortized CostFair Value
Due in 1 year$714.3 $714.5 $587.0 $587.1 
Due in 1 year through 5 years559.1 559.1 584.8 584.6 
$1,273.4 $1,273.6 $1,171.8 $1,171.7 
All available-for-sale securities have been classified as current, based on management’s intent and ability to use the funds in current operations.