Fair Value (Tables)

6 Months Ended

Jan. 01, 2017

Fair Value Hierarchy For financial Assets

The following table presents the Company’s fair value hierarchy for its financial assets (cash equivalents and marketable securities) measured at fair value on a recurring basis as of January 1, 2017:


In thousands	Quoted Prices in		Significant
	Active Markets		Other
	for Identical		Observable
	Instruments		Inputs
Description	(Level 1)		(Level 2)		Total
Assets
Investments in U.S. Treasury securities and money-market funds	$	539,765	$	—	$	539,765
Investments in municipal bonds, obligations of U.S. government-sponsored enterprises and commercial paper		—		911,842		911,842
Total assets measured at fair value	$	539,765	$	911,842	$	1,451,607

The following table presents the Company’s fair value hierarchy for its financial assets (cash equivalents and marketable securities) measured at fair value on a recurring basis as of July 3, 2016:



In thousands	Quoted Prices in		Significant
	Active Markets		Other
	for Identical		Observable
	Instruments		Inputs
Description	(Level 1)		(Level 2)		Total
Assets
Investments in U.S. Treasury securities and money-market funds	$	513,193	$	—	$	513,193
Investments in municipal bonds, obligations of U.S. government-sponsored enterprises and commercial paper		—		832,438		832,438
Total assets measured at fair value	$	513,193	$	832,438	$	1,345,631