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Fair Value Measurements (Tables)
9 Months Ended
Mar. 30, 2019
Fair Value Disclosures [Abstract]  
Summary of financial assets and liabilities measured at fair value on a recurring basis
Financial assets and liabilities measured at fair value on a recurring basis are summarized below (in millions): 
 
Level 1
 
Level 2
 
Level 3
 
Total
March 30, 2019: (1)
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 

Cash equivalents:

 

 

 

Commercial paper
$

 
$
26.0

 
$

 
$
26.0

Money market funds
10.3

 

 

 
10.3

U.S. Treasury securities
23.5

 

 

 
23.5

Short-term investments:

 

 

 

Commercial paper

 
19.3

 

 
19.3

Asset-backed securities

 
70.7

 

 
70.7

Corporate debt securities

 
212.3

 

 
212.3

Municipal bonds

 
1.3

 

 
1.3

Mortgage-backed securities

 
4.7

 

 
4.7

Foreign government bonds

 
5.5

 

 
5.5

U.S. Treasury securities
26.4

 

 

 
26.4

Total assets
$
60.2

 
$
339.8

 
$

 
$
400.0

Other current liabilities:
 
 
 
 
 
 
 
Acquisition contingencies
$

 
$

 
$
2.7

 
$
2.7

Total other accrued liabilities
$

 
$

 
$
2.7

 
$
2.7

(1) Excludes $298.5 million in cash held in our bank accounts at March 30, 2019.
Based on quoted market prices as of March 30, 2019, the fair value of the Convertible Notes (Note 13) was approximately $529.8 million, determined using Level 2 inputs as they are not actively traded in markets.

 
Level 1
 
Level 2
 
Level 3
 
Total
June 30, 2018: (1)
 
 
 
 
 
 
 
Assets:
 
 
 
 
 
 
 
Cash equivalents:
 
 
 
 
 
 
 
Certificates of deposit
$

 
$
3.0

 
$

 
$
3.0

Commercial paper

 
112.1

 

 
112.1

Money market funds
0.8

 

 

 
0.8

U.S. Treasury securities
143.6

 

 

 
143.6

U.S. Agency securities

 
34.2

 

 
34.2

Short-term investments:
 
 
 
 
 
 
 
Certificates of deposit

 
7.5

 

 
7.5

Commercial paper

 
10.5

 

 
10.5

Asset-backed securities

 
67.8

 

 
67.8

Corporate debt securities

 
219.2

 

 
219.2

Municipal bonds

 
1.6

 

 
1.6

Mortgage-backed securities

 
4.2

 

 
4.2

Foreign government bonds

 
3.4

 

 
3.4

Total assets
$
144.4

 
$
463.5

 
$

 
$
607.9

Other accrued liabilities:
 
 
 
 
 
 
 
Derivative liability
$

 
$

 
$
52.4

 
$
52.4

Acquisition contingencies

 

 
2.7

 
2.7

Total other accrued liabilities
$

 
$

 
$
55.1

 
$
55.1


(1) Excludes $103.6 million in cash held in our bank accounts at June 30, 2018.