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Cash, Cash Equivalents and Short-term Investments
 6 Months Ended
Dec. 28, 2019
Cash and Cash Equivalents [Abstract]  
Cash, Cash Equivalents and Short-term Investments
Note 6. Cash, Cash Equivalents and Short-term Investments
The following table summarizes our cash, cash equivalents and short-term investments by category for the periods presented (in millions):
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
December 28, 2019:
 
 
 
 
 
 
 
Cash
$
157.7

 
$
—

 
$
—

 
$
157.7

Cash equivalents:
 
 
 
 
 
 
 
Certificates of deposit
3.5

 
—

 
—

 
3.5

Commercial paper
91.8

 
—

 
—

 
91.8

Corporate debt securities
13.2

 
—

 
—

 
13.2

Money market funds
774.3

 
—

 
—

 
774.3

U.S. Agency securities
44.5

 
—

 
—

 
44.5

Total cash and cash equivalents
$
1,085.0

 
$
—

 
$
—

 
$
1,085.0

Short-term investments:
 
 
 
 
 
 
 
Certificates of deposit
$
1.9

 
$
—

 
$
—

 
$
1.9

Commercial paper
5.5

 
—

 
—

 
5.5

Asset-backed securities
31.8

 
0.2

 
—

 
32.0

Corporate debt securities
159.7

 
0.8

 
—

 
160.5

Mortgage-backed securities
5.2

 
—

 
—

 
5.2

Foreign government bonds
4.1

 
—

 
—

 
4.1

U.S. Treasury securities
21.4

 
—

 
—

 
21.4

Total short-term investments
$
229.6

 
$
1.0

 
$
—

 
$
230.6

 
 
 
 
 
 
 
 
June 29, 2019:
 
 
 
 
 
 
 
Cash
$
213.8

 
$
—

 
$
—

 
$
213.8

Cash equivalents:
 
 
 
 
 
 
 
Commercial paper
37.4

 
—

 
—

 
37.4

Money market funds
168.1

 
—

 
—

 
168.1

U.S. Treasury securities
13.3

 
—

 
—

 
13.3

Total cash and cash equivalents
$
432.6

 
$
—

 
$
—

 
$
432.6

Short-term investments:
 
 
 
 
 
 
 
Certificates of deposit
$
1.9

 
$
—

 
$
—

 
$
1.9

Commercial paper
22.3

 
—

 
—

 
22.3

Asset-backed securities
54.9

 
0.2

 
—

 
55.1

Corporate debt securities
207.6

 
0.9

 
(0.1
)
 
208.4

Municipal bonds
1.3

 
—

 
—

 
1.3

Mortgage-backed securities
6.6

 
—

 
—

 
6.6

Foreign government bonds
6.2

 
—

 
—

 
6.2

U.S. Agency securities
4.6

 
—

 
—

 
4.6

U.S. Treasury securities
29.4

 
0.1

 
—

 
29.5

Total short-term investments
$
334.8

 
$
1.2

 
$
(0.1
)
 
$
335.9


We use the specific-identification method to determine any realized gains or losses from the sale of our short-term investments classified as available-for-sale. During the three and six months ended December 28, 2019 and December 29, 2018, we did not realize significant gains or losses on a gross level from the sale of our short-term investments classified as available-for-sale.
During the three and six months ended December 28, 2019, our other income (expense), net was $1.2 million and $6.2 million, respectively, and includes interest income on cash equivalents and short-term investments of $3.4 million and $7.4 million, respectively. During the three and six months ended December 29, 2018, our other income (expense), net was $3.8 million and $6.5 million, respectively, and includes interest income on cash equivalents and short-term investments of $3.4 million and $6.1 million, respectively. 
The following table summarizes unrealized losses on our cash equivalents and short-term investments by category and length of time the investment has been in a continuous unrealized loss position as of the periods presented (in millions):
 
Less than 12 months
 
12 Months or Greater
 
Total
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
 
Fair Value
 
Unrealized Losses
December 28, 2019:
 
 
 
 
 
 
 
 
 
 
 
Asset-backed securities
$
2.3

 
$
—

 
$
0.1

 
$
—

 
$
2.4

 
$
—

Corporate debt securities
17.3

 
—

 
—

 
—

 
17.3

 
—

Total
$
19.6

 
$
—

 
$
0.1

 
$
—

 
$
19.7

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
June 29, 2019:
 
 
 
 
 
 
 
 
 
 
 
Asset-backed securities
$
4.2

 
$
—

 
$
5.9

 
$
—

 
$
10.1

 
$
—

Corporate debt securities
9.6

 
—

 
35.9

 
(0.1
)
 
45.5

 
(0.1
)
Foreign government bonds
—

 
—

 
2.1

 
—

 
2.1

 
—

U.S. government bonds
6.9

 
—

 
—

 
—

 
6.9

 
—

Total
$
20.7

 
$
—

 
$
43.9

 
$
(0.1
)
 
$
64.6

 
$
(0.1
)

The following table classifies our short-term investments by contractual maturities (in millions): 
 
December 28, 2019
 
June 29, 2019
 
Amortized Cost
 
Fair Value
 
Amortized Cost
 
Fair Value
Due in 1 year
$
120.6

 
$
120.9

 
$
178.9

 
$
179.1

Due in 1 year through 5 years
105.2

 
105.9

 
148.1

 
149.0

Due in 5 years through 10 years
3.0

 
3.0

 
6.0

 
6.0

Due after 10 years
0.8

 
0.8

 
1.8

 
1.8

 
$
229.6

 
$
230.6

 
$
334.8

 
$
335.9


All available-for-sale securities have been classified as current, based on management’s intent and ability to use the funds in current operations.