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Marketable Securities
 6 Months Ended
Jan. 01, 2017
Marketable Securities [Abstract]  
Marketable Securities

4.Marketable Securities



The following is a summary of cash equivalents and marketable securities as of January 1, 2017:









 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 



 

January 1, 2017

 

In thousands

 

Amortized

 

Unrealized

 

Unrealized

 

 

 

 



 

Cost

 

Gain

 

(Loss)(1)

 

Fair Value

 

U.S. Treasury securities

 

$

 475,678 

 

$

 113 

 

$

 (82)

 

$

 475,709 

 

Obligations of U.S. government-sponsored enterprises

 

 

 353,967 

 

 

 175 

 

 

 (261)

 

 

 353,881 

 

Municipal bonds

 

 

 136,711 

 

 

 —

 

 

 (256)

 

 

 136,455 

 

Corporate debt securities and other

 

 

 421,493 

 

 

 64 

 

 

 (51)

 

 

 421,506 

 

Money market funds

 

 

 64,056 

 

 

 —

 

 

 —

 

 

 64,056 

 

Total

 

$

 1,451,905 

 

$

 352 

 

$

 (650)

 

$

 1,451,607 

 

Amounts included in:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

 171,789 

 

$

 6 

 

$

 (7)

 

$

 171,788 

 

Marketable securities

 

 

 1,280,116 

 

 

 346 

 

 

 (643)

 

 

 1,279,819 

 

Total

 

$

 1,451,905 

 

$

 352 

 

$

 (650)

 

$

 1,451,607 

 



The following is a summary of cash equivalents and marketable securities as of July 3, 2016:







 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 



 

July 3, 2016

 



 

 

 

 

 

 

 

 

 

 

 

 

 

In thousands

 

Amortized

 

Unrealized

 

Unrealized

 

 

 

 



 

Cost

 

Gain

 

(Loss)(1)

 

Fair Value

 

U.S. Treasury securities

 

$

 441,925 

 

$

 783 

 

$

 (5)

 

$

 442,703 

 

Obligations of U.S. government-sponsored enterprises

 

 

 316,368 

 

 

 855 

 

 

 —

 

 

 317,223 

 

Municipal bonds

 

 

 119,680 

 

 

 158 

 

 

 (10)

 

 

 119,828 

 

Corporate debt securities and other

 

 

 395,254 

 

 

 143 

 

 

 (10)

 

 

 395,387 

 

Money market funds

 

 

 70,490 

 

 

 —

 

 

 —

 

 

 70,490 

 

Total

 

$

 1,343,717 

 

$

 1,939 

 

$

 (25)

 

$

 1,345,631 

 

Amounts included in:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents

 

$

 161,028 

 

$

 10 

 

$

 —

 

$

 161,038 

 

Marketable securities

 

 

 1,182,689 

 

 

 1,929 

 

 

 (25)

 

 

 1,184,593 

 

Total

 

$

 1,343,717 

 

$

 1,939 

 

$

 (25)

 

$

 1,345,631 

 





(1) The Company evaluated the nature of the investments with a loss position at January 1, 2017 and July 3, 2016, which are primarily obligations of the U.S. government and its sponsored enterprises, municipal bonds and U.S. corporate notes.  In evaluating the investments, the Company considered the duration of the impairments, and the amount of the impairments relative to the underlying portfolio and concluded that such amounts were not other-than-temporary. The Company principally holds securities until maturity, however, they may be sold under certain circumstances.  Unrealized losses on the investments greater than twelve months old were not significant as of January 1, 2017 and July 3, 2016.



The estimated fair value of debt investments in marketable securities, by effective maturity date is as follows:







 

 

 

 

 

 

 



 

 

 

 

 

 

 



 

January 1,

 

July 3,

 

In thousands

 

2017

 

2016

 

Due in one year or less

 

$

 1,115,516 

 

$

 943,323 

 

Due after one year through three years

 

 

 164,303 

 

 

 241,270 

 

Total marketable securities

 

$

 1,279,819 

 

$

 1,184,593