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.
|