FINANCIAL INSTRUMENTS

9 Months Ended

Mar. 30, 2025

The Company’s investment strategies and investment and fair value policies are unchanged from those disclosed in Note 9, “Financial Instruments,” to the Consolidated Financial Statements in Part II, Item 8 of its 2024 Form 10-K. As of March 30, 2025 and June 30, 2024, the fair value of mutual funds and equity investments were not material. The Company had no debt security investments as of March 30, 2025 and June 30, 2024. The financial statement impacts to the Condensed Consolidated Statement of Operations from debt and equity investments were not material as of and for the three and nine months ended March 30, 2025 and March 31, 2024.

The financial instruments reported within Cash and Cash Equivalents in the Company’s Condensed Consolidated Balance Sheets as of March 30, 2025, and June 30, 2024 consisted of the following:


	March 30, 2025		June 30, 2024
	(in thousands)
Money market funds (fair value measured on a recurring basis, level 1)	$	2,441,620	$	2,543,462
Cash	1,379,729		1,568,315
Time deposits	1,629,369		1,736,079
Total	$	5,450,718	$	5,847,856

Derivative Instruments and Hedging

The Company’s hedging strategies and policies are unchanged from those disclosed in Note 9, “Financial Instruments,” to the Consolidated Financial Statements in Part II, Item 8 of its 2024 Form 10-K. As of March 30, 2025 and June 30, 2024, the fair value of outstanding cash flow and balance sheet hedges were not material. The financial statement impacts to the Condensed Consolidated Statement of Operations from derivative instruments and hedging activities were not material as of and for the three and nine months ended March 30, 2025 and March 31, 2024.

Concentrations of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk and the Company’s mitigation strategies are unchanged from those disclosed in Note 9, “Financial Instruments,” to the Consolidated Financial Statements in Part II, Item 8 of its 2024 Form 10-K.