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Investments (Tables)
 3 Months Ended
Sep. 23, 2012
Jun. 24, 2012
Investments, Debt and Equity Securities [Abstract]    
Summary of Available-for-Sale Securities
Available-for-sale securities as of September 23, 2012 are summarized as follows (in thousands):
 
 
Amortized Costs
 
 
Gross Unrealized Gain
 
 
Gross Unrealized Loss
 
 
Net Unrealized Gain
 
 
Market Value
 
Short-Term Investments:
 
 
 
 
 
 
 
 
 
 
Corporate debt
 
$
6,022
 
 
$
28
 
 
$
—
 
 
$
28
 
 
$
6,050
 
U.S. government and agency obligations  
 
 
69,716
 
 
 
11
 
 
 
—
 
 
 
11
 
 
 
69,727
 
Total short-term investments  
 
$
75,738
 
 
$
39
 
 
$
—
 
 
$
39
 
 
$
75,777
 
Long-Term Investments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government and agency obligations  
 
$
10,034
 
 
$
14
 
 
$
—
 
 
$
14
 
 
$
10,048
 
Total long-term investments  
 
$
10,034
 
 
$
14
 
 
$
—
 
 
$
14
 
 
$
10,048
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity securities  
 
$
11,631
 
 
$
1,433
 
 
$
(808
)
 
$
625
 
 
$
12,256
 
Available-for-sale securities as of June 24, 2012 are summarized as follows (in thousands):
 
 
Amortized Costs
 
 
Gross Unrealized Gain
 
 
Gross Unrealized Loss
 
 
Net Unrealized Gain
 
 
Market Value
 
Short-Term Investments:
 
 
 
 
 
 
 
 
 
 
Corporate debt  
 
$
6,045
 
 
$
26
 
 
$
—
 
 
$
26
 
 
$
6,071
 
U.S. government and agency obligations  
 
 
57,796
 
 
 
10
 
 
 
(5
)
 
 
5
 
 
 
57,801
 
Total short-term investments  
 
$
63,841
 
 
$
36
 
 
$
(5
)
 
$
31
 
 
$
63,872
 
Long-Term Investments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government and agency obligations  
 
$
15,053
 
 
$
7
 
 
$
(6
)
 
$
1
 
 
$
15,054
 
Total long-term investments  
 
$
15,053
 
 
$
7
 
 
$
(6
)
 
$
1
 
 
$
15,054
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity securities  
 
$
11,631
 
 
$
3,848
 
 
$
—
 
 
$
3,848
 
 
$
15,479
 
Other-Than-Temporary Impairments
The following table provides the Company's other-than-temporary impairments for equity, asset-backed, and mortgage-backed securities for the three months ended September 23, 2012 and September 25, 2011 (in thousands):

 
 
Three Months Ended
 
 
 
September 23, 2012
 
 
September 25, 2011
 
Publicly traded foreign company(s)-common stock                                                                                                                      
 
$
―
 
 
$
535
 
Total other-than-temporary impairments                                                                                                                      
 
$
―
 
 
$
535
 
  
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.  The unrealized loss position is measured and determined at each fiscal quarter end (in thousands):
 
 
Securities held
in a loss position
for less than
12 months at
September 23, 2012
 
 
Securities held
in a loss position
for 12 months
or more at
September 23, 2012
 
 
Total in a loss position
at September 23, 2012
 
 
 
Market
Value
 
 
Gross
Unrealized
Losses
 
 
Market
Value
 
 
Gross
Unrealized
Losses
 
 
Market
Value
 
 
Gross
Unrealized
Losses
 
Equity securities
 
$
3,579
 
 
$
(808
)
 
$
—
 
 
$
—
 
 
$
3,579
 
 
$
(808
)
Total
 
$
3,579
 
 
$
(808
)
 
$
—
 
 
$
—
 
 
$
3,579
 
 
$
(808
)


 
 
Securities held
in a loss position
for less than
12 months at
June 24, 2012
 
 
Securities held
in a loss position
for 12 months
or more at
June 24, 2012
 
 
Total in a loss position
at June 24, 2012
 
 
 
Market
Value
 
 
Gross
Unrealized
Losses
 
 
Market
Value
 
 
Gross
Unrealized
Losses
 
 
Market
Value
 
 
Gross
Unrealized
Losses
 
U.S government and agency obligations
 
$
46,420
 
 
$
(11
)
 
$
—
 
 
$
—
 
 
$
46,420
 
 
$
(11
)
Total                                                          
 
$
46,420
 
 
$
(11
)
 
$
—
 
 
$
—
 
 
$
46,420
 
 
$
(11
)
  
Amortized Cost and Estimated Fair Value of Investments by Contractual Maturity
The amortized cost and estimated fair value of investments at September 23, 2012, by contractual maturity, are as follows (in thousands):
 
Contractual Maturity
 
Amortized
Cost
 
 
Estimated
Market Value
 
Due in 1 year or less  
 
$
75,738
 
 
$
75,777
 
Due in 1-2 years  
 
 
10,034
 
 
 
10,048
 
Total investments  
 
$
85,772
 
 
$
85,825
 
  
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 September 23, 2012
 
 
 
Total
 
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
 
Significant Other Observable Inputs
(Level 2)
 
 
Significant Unobservable Inputs
(Level 3)
 
Corporate debt  
 
$
6,050
 
 
$
—
 
 
$
6,050
 
 
$
—
 
U.S. government and agency obligations  
 
 
79,775
 
 
 
50,034
 
 
 
29,741
 
 
 
—
 
Equity securities-strategic investments  
 
 
12,256
 
 
 
12,256
 
 
 
—
 
 
 
—
 
Total securities at fair value  
 
$
98,081
 
 
$
62,290
 
 
$
35,791
 
 
$
—
 

 
 
As of June 24, 2012
 
 
 
Total
 
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
 
Significant Other Observable Inputs
(Level 2)
 
 
Significant Unobservable Inputs
(Level 3)
 
Corporate debt  
 
$
6,071
 
 
$
—
 
 
$
6,071
 
 
$
—
 
U.S. government and agency obligations  
 
 
72,855
 
 
 
43,059
 
 
 
29,796
 
 
 
—
 
Equity securities-strategic investments  
 
 
15,479
 
 
 
15,479
 
 
 
—
 
 
 
—
 
Total securities at fair value  
 
$
94,405
 
 
$
58,538
 
 
$
35,867
 
 
$
—