Investments (Tables)

12 Months Ended

Jun. 26, 2011

Jun. 27, 2010

Investments, Debt and Equity Securities [Abstract]

Summary of Available-for-Sale Securities

Available-for-sale securities as of June 26, 2011 are summarized as follows (in thousands):

	Amortized Costs		Gross Unrealized Gain		Gross Unrealized Loss		Net Unrealized Gain		Market Value
Short-Term Investments:
Corporate debt	$	55,964	$	51	$	—	$	51	$	56,015
U.S. government and agency obligations		129,352	$	174		—		174		129,526
Total short-term investments	$	185,316	$	225	$	—	$	225	$	185,541
Long-Term Investments:
U.S. government and agency obligations	$	12,501	$	43	$	—	$	43	$	12,544
Asset-backed securities		594		187		—		187		781
Total long-term investments	$	13,095	$	230	$	—	$	230	$	13,325
Equity securities	$	12,963	$	9,473	$	—	$	9,473	$	22,436

Available-for-sale securities as of June 27, 2010 are summarized as follows (in thousands):

	Amortized Costs		Gross Unrealized Gain		Gross Unrealized Loss			Net Unrealized Gain		Market Value
Short-Term Investments:
U.S. government and agency obligations	$	308,469	$	919	$	(4	)	$	915	$	309,384
Total short-term investments	$	308,469	$	919	$	(4	)	$	915	$	309,384
Long-Term Investments:
U.S. government and agency obligations	$	20,043	$	378	$	(3	)	$	375	$	20,418
Mortgage-backed securities		9,089		2,689		—			2,689		11,778
Asset-backed securities		9,030		2,529		(4	)		2,525		11,555
Total long-term investments	$	38,162	$	5,596	$	(7	)	$	5,589	$	43,751
Equity securities	$	14,397	$	3,791	$	—		$	3,791	$	18,188

Fair Value and Gross Unrealized Losses Related to Available-for-sale Securities

The following table summarizes the fair value and gross unrealized losses related to available-for-sale investments, aggregated by type of investment and length of time that individual securities have been held as of June 27, 2010. The unrealized loss position is measured and determined at each fiscal year end (in thousands):

	Securities held in a loss position for less than 12 months at June 27, 2010					Securities held in a loss position for 12 months or more at June 27, 2010				Total in a loss position at June 27, 2010
	Market Value		Gross Unrealized Losses			Market Value		Gross Unrealized Losses		Market Value		Gross Unrealized Losses
U.S. government and agency obligations	$	27,245	$	(7	)	$	—	$	—	$	27,245	$	(7	)
Total	$	27,245	$	(7	)	$	—	$	—	$	27,245	$	(7	)

Amortized Cost and Estimated Fair Value of Investments by Contractual Maturity

The amortized cost and estimated fair value of investments at June 26, 2011, by contractual maturity, are as follows (in thousands):

Contractual Maturity (1)	Amortized Cost		Estimated Market Value
Due in 1 year or less	$	185,316	$	185,541
Due in 1-2 years		12,501		12,544
Due in 2-5 years		—		—
Due after 5 years		594		781
Total investments	$	198,411	$	198,866

(1) Contractual maturity for asset-backed securities was based on initial contractual maturity dates.

Investments Measured at Fair Value on a Recurring Basis

The following tables present the balances of investments measured at fair value on a recurring basis (in thousands):

	As of June 26, 2011
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Corporate debt	$	56,015	$	—	$	56,015	$	—
U.S. government and agency obligations		142,070		79,822		62,248		—
Asset-backed securities		781		—		—		781
Equity securities-strategic investments		22,436		22,436		—		—
Total securities at fair value	$	221,302	$	102,258	$	118,263	$	781

The following tables present the balances of investments measured at fair value on a recurring basis (in thousands):

	As of June 27, 2010
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
U.S. government and agency obligations	$	329,802	$	233,049	$	96,753	$	—
Mortgage-backed securities		11,778		—		—		11,778
Asset-backed securities		11,555		—		—		11,555
Equity securities-strategic investments		18,188		18,184		—		4
Total securities at fair value	$	371,323	$	251,233	$	96,753	$	23,337