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FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Dec. 27, 2015
Fair Value Disclosures [Abstract]  
Cash, Cash Equivalents, Investments, Restricted Cash and Investments and Other Assets Measured at Fair Value on Recurring Basis
The following tables set forth the Company’s cash, cash equivalents, investments, restricted cash and investments, and other assets measured at fair value on a recurring basis as of December 27, 2015 and June 28, 2015: 
 
December 27, 2015
 
 
 
 
 
 
 
 
(Reported Within)
Cost
 
Unrealized
Gain
 
Unrealized
(Loss)
 
Fair Value
 
Cash and
Cash
Equivalents
 
Investments
 
Restricted
Cash &
Investments
 
Other
Assets
(in thousands)
Cash
$
389,483

 
$
—

 
$
—

 
$
389,483

 
$
384,789

 
$
—

 
$
4,694

 
$
—

Level 1:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Time Deposit
175,259

 
—

 
—

 
175,259

 
42,438

 
—

 
132,822

 
—

Money Market Funds
1,540,647

 
—

 
—

 
1,540,647

 
1,540,646

 
—

 
—

 
—

U.S. Treasury and Agencies
345,105

 
2

 
(1,941
)
 
343,166

 
—

 
273,114

 
70,052

 
—

Mutual Funds
33,995

 
2,733

 
(573
)
 
36,155

 
—

 
—

 
—

 
36,155

Level 1 Total
$
2,095,006

 
$
2,735

 
$
(2,514
)
 
$
2,095,227

 
$
1,583,084

 
$
273,114

 
$
202,874

 
$
36,155

Level 2:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal Notes and Bonds
643,087

 
408

 
(317
)
 
643,178

 
—

 
643,178

 
—

 
—

U.S. Treasury and Agencies
8,028

 
—

 
(110
)
 
7,918

 
—

 
7,918

 
—

 
—

Government-Sponsored Enterprises
47,944

 
—

 
(270
)
 
47,674

 
—

 
47,674

 
—

 
—

Foreign Government Bonds
46,394

 
1

 
(229
)
 
46,166

 
—

 
46,166

 
—

 
—

Corporate Notes and Bonds
1,343,415

 
328

 
(5,401
)
 
1,338,342

 
—

 
1,338,342

 
—

 
—

Mortgage Backed Securities — Residential
35,611

 
65

 
(371
)
 
35,305

 
—

 
35,305

 
—

 
—

Mortgage Backed Securities — Commercial
116,662

 
7

 
(759
)
 
115,910

 
—

 
115,910

 
—

 
—

Level 2 Total
$
2,241,141

 
$
809

 
$
(7,457
)
 
$
2,234,493

 
$
—

 
$
2,234,493

 
$
—

 
$
—

Total
$
4,725,630

 
$
3,544

 
$
(9,971
)
 
$
4,719,203

 
$
1,967,873

 
$
2,507,607

 
$
207,568

 
$
36,155

 
 
June 28, 2015
 
 
 
 
 
 
 
 
(Reported Within)
Cost
 
Unrealized
Gain
 
Unrealized
(Loss)
 
Fair Value
 
Cash and
Cash
Equivalents
 
Investments
 
Restricted
Cash &
Investments
 
Other
Assets
(in thousands)
Cash
$
276,663

 
$
—

 
$
—

 
$
276,663

 
$
271,452

 
$
—

 
$
5,211

 
$
—

Level 1:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Time Deposit
177,567

 
—

 
—

 
177,567

 
44,738

 
—

 
132,829

 
—

Money Market Funds
1,177,875

 
—

 
—

 
1,177,875

 
1,177,875

 
—

 
—

 
—

U.S. Treasury and Agencies
349,009

 
72

 
(861
)
 
348,220

 
—

 
315,291

 
32,929

 
—

Mutual Funds
30,584

 
2,926

 
(47
)
 
33,463

 
—

 
—

 
—

 
33,463

Level 1 Total
$
1,735,035

 
$
2,998

 
$
(908
)
 
$
1,737,125

 
$
1,222,613

 
$
315,291

 
$
165,758

 
$
33,463

Level 2:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Municipal Notes and Bonds
659,550

 
429

 
(335
)
 
659,644

 
7,474

 
652,170

 
—

 
—

U.S. Treasury and Agencies
4,007

 
—

 
(4
)
 
4,003

 
—

 
4,003

 
—

 
—

Government-Sponsored Enterprises
53,612

 
2

 
(249
)
 
53,365

 
—

 
53,365

 
—

 
—

Foreign Government Bonds
50,336

 
31

 
(161
)
 
50,206

 
—

 
50,206

 
—

 
—

Corporate Notes and Bonds
1,329,587

 
685

 
(3,797
)
 
1,326,475

 
—

 
1,326,475

 
—

 
—

Mortgage Backed Securities — Residential
32,231

 
72

 
(292
)
 
32,011

 
—

 
32,011

 
—

 
—

Mortgage Backed Securities — Commercial
141,988

 
44

 
(606
)
 
141,426

 
—

 
141,426

 
—

 
—

Level 2 Total
$
2,271,311

 
$
1,263

 
$
(5,444
)
 
$
2,267,130

 
$
7,474

 
$
2,259,656

 
$
—

 
$
—

Total
$
4,283,009

 
$
4,261

 
$
(6,352
)
 
$
4,280,918

 
$
1,501,539

 
$
2,574,947

 
$
170,969

 
$
33,463
Schedule of Cash, Cash Equivalents, Investments and Restricted Cash and Investments in Unrealized Loss Positions
The following is an analysis of the Company’s cash, cash equivalents, investments, and restricted cash and investments in unrealized loss positions:
 
December 27, 2015
Unrealized Losses
Less Than 12 Months
 
Unrealized Losses
12 Months or Greater
 
Total
Fair Value
 
Gross
Unrealized
Loss
 
Fair Value
 
Gross
Unrealized
Loss
 
Fair Value
 
Gross
Unrealized
Loss
(in thousands)
 
Municipal Notes and Bonds
$
256,272

 
$
(313
)
 
$
1,816

 
$
(4
)
 
$
258,088

 
$
(317
)
 
U.S. Treasury & Agencies
347,138

 
(2,051
)
 
—

 
—

 
347,138

 
(2,051
)
 
Mutual Funds
22,053

 
(573
)
 
—

 
—

 
22,053

 
(573
)
 
Government-Sponsored Enterprises
47,507

 
(270
)
 
—

 
—

 
47,507

 
(270
)
 
Foreign Government Bonds
39,895

 
(229
)
 
—

 
—

 
39,895

 
(229
)
 
Corporate Notes and Bonds
1,107,398

 
(5,252
)
 
39,808

 
(149
)
 
1,147,206

 
(5,401
)
Mortgage Backed Securities — Residential
23,303

 
(279
)
 
1,669

 
(92
)
 
24,972

 
(371
)
Mortgage Backed Securities — Commercial
93,913

 
(654
)
 
12,421

 
(105
)
 
106,334

 
(759
)
 
$
1,937,479

 
$
(9,621
)
 
$
55,714

 
$
(350
)
 
$
1,993,193

 
$
(9,971
)
Schedule of Amortized Cost and Fair Value of Cash Equivalents, Investments, Restricted Cash and Investments with Contractual Maturities
The amortized cost and fair value of cash equivalents, investments and restricted investments with contractual maturities are as follows as of December 27, 2015:
 
Cost
 
Estimated
Fair
Value
(in thousands)
Due in one year or less
$
2,260,834

 
$
2,260,815

Due after one year through five years
1,837,148

 
1,829,956

Due in more than five years
204,170

 
202,794

 
$
4,302,152

 
$
4,293,565
Schedule of Outstanding Foreign Currency Forward Contracts
As of December 27, 2015, the Company had the following outstanding foreign currency contracts that were entered into under its cash flow and balance sheet hedge program:
 
Notional Value
Derivatives Designated as
Hedging Instruments:
 
Derivatives Not Designated
as Hedging Instruments:
(in thousands)
Foreign Currency Forward Contracts
 
 
 
 
 
 
 
 
Buy Contracts
 
Sell Contracts
 
Buy Contracts
 
Sell Contracts
Japanese yen
$
—

 
$
99,765

 
$
—

 
$
94,636

Swiss franc
—

 
—

 
4,881

 
—

Euro
20,065

 
—

 
15,276

 
—

Korean won
5,515

 
—

 
8,483

 
—

Singapore dollar
—

 
—

 
5,674

 
—

Taiwan dollar
—

 
—

 
24,410

 
—

 
$
25,580

 
$
99,765

 
$
58,724

 
$
94,636

 
 
 
 
 
 
 
 
Foreign Currency Option Contracts
 
 
 
 
 
 
 
 
Buy Contracts
 
Sell Contracts
 
Buy Contracts
 
Sell Contracts
Japanese yen
$
—

 
$
39,135

 
$
—

 
$
—
Schedule of Fair Value of Derivatives Instruments
The fair value of derivative instruments in the Company’s Condensed Consolidated Balance Sheets as of December 27, 2015 and June 28, 2015 were as follows:
 
December 27, 2015
 
June 28, 2015
Fair Value of Derivative Instruments (Level 2)
 
Fair Value of Derivative Instruments (Level 2)
Asset Derivatives
 
Liability Derivatives
 
Asset Derivatives
 
Liability Derivatives
Balance Sheet
Location
 
Fair Value
 
Balance Sheet
Location
 
Fair Value
 
Balance Sheet
Location
 
Fair Value
 
Balance Sheet
Location
 
Fair Value
(in thousands)
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange forward contracts
Prepaid expense
and other assets
 
$
1,732

 
Accrued
liabilities
 
$
237

 
Prepaid expense
and other assets
 
$
3,388

 
Accrued
liabilities
 
$
957

 
Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign exchange forward contracts
Prepaid expense
and other assets
 
84

 
Accrued
liabilities
 
77

 
Prepaid expense
and other assets
 
8

 
Accrued
liabilities
 
960

Total derivatives
 
 
$
1,816

 
 
 
$
314

 
 
 
$
3,396

 
 
 
$
1,917
Schedule of Derivative Instruments Designated as Cash Flow Hedges in Statements of Operations
The effect of derivative instruments designated as cash flow hedges on the Company’s Condensed Consolidated Statements of Operations, including accumulated other comprehensive income (“AOCI”) was as follows:
 
Three Months Ended December 27, 2015
 
Six Months Ended December 27, 2015
Effective Portion
Ineffective 
Portion
and Amount
Excluded from
Effectiveness
 
Effective Portion
Ineffective 
Portion
and Amount
Excluded from
Effectiveness
 
Location of 
Gain (Loss)
Recognized 
in or 
Reclassified
into Income
(Loss)
Recognized
in AOCI
Gain (Loss)
Reclassified
from AOCI
into Income
Gain (Loss)
Recognized
in Income
 
Gain (Loss)
Recognized
in AOCI
Gain (Loss)
Reclassified
from AOCI
into Income
Gain (Loss)
Recognized
in Income
Derivatives Designated
as Hedging Instruments
 
(in thousands)
Foreign Exchange Contracts
Revenue
$
4,256

 
$
(4,808
)
 
$
215

 
$
4,187
 
 
$
(6,186
)
$
247

Foreign Exchange Contracts
Cost of goods sold
(223
)
 
1,052

 
(14
)
 
(638
)
 
2,557
 
(36
)
Foreign Exchange Contracts
Selling, general, and
administrative
147

 
111

 
(12
)
 
(26
)
 
369
 
(19
)
Interest Rate Contracts
Other expense, net
—

 
(95
)
 
—

 
—
 
 
(189
)
—

 
 
$
4,180

 
$
(3,740
)
 
$
189

 
$
3,523
 
 
$
(3,449
)
 
$
192

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Three Months Ended December 28, 2014
 
Six Months Ended December 28, 2014
Effective Portion
Ineffective 
Portion
and Amount
Excluded from
Effectiveness
 
Effective Portion
Ineffective 
Portion
and Amount
Excluded from
Effectiveness
 
Location of 
Gain (Loss)
Recognized 
in or 
Reclassified
into Income
Gain (Loss)
Recognized
in AOCI
Gain (Loss)
Reclassified
from AOCI
into Income
Gain (Loss)
Recognized
in Income
 
Gain (Loss)
Recognized
in AOCI
Gain (Loss)
Reclassified
from AOCI
into Income
Gain (Loss)
Recognized
in Income
Derivatives Designated
as Hedging Instruments
 
(in thousands)
Foreign Exchange Contracts
Revenue
$
8,765

 
$
4,967

 
$
81

 
$
11,789
 
 
$
5,436

 
$
124

Foreign Exchange Contracts
Cost of goods sold
(1,264
)
 
(1,557
)
 
(19
)
 
(3,287
)
 
(1,833
)
 
(25
)
Foreign Exchange Contracts
Selling, general, and
administrative
(555
)
 
(604
)
 
(9
)
 
(1,421
)
 
(709
)
 
(11
)
Foreign Exchange Contracts
Other expense, net
2,071

 
—

 
—

 
2,071
 
 
—

 
—

 
 
$
9,017

 
$
2,806

 
$
53

 
$
9,152
 
 
$
2,894

 
$
88

The effect of derivative instruments not designated as cash flow hedges on the Company’s Condensed Consolidated Statements of Operations was as follows:
 
 
Three Months Ended
 
Six Months Ended
 
December 27,
2015
 
December 28,
2014
 
December 27, 2015
 
December 28, 2014
Derivatives Not Designated as Hedging Instruments:
Location 
of Gain
Recognized 
in Income
 
Gain 
Recognized
in Income
 
Gain 
Recognized
in Income
 
Gain 
Recognized
in Income
 
Gain 
Recognized
in Income
 
 
 
(in thousands)
Foreign Exchange Contracts
Other 
income
 
$
1,561

 
$
1,118

 
$
7,568

 
$
2,086