FINANCIAL INSTRUMENTS

9 Months Ended

Mar. 31, 2024

The Company’s investment strategies and investment and fair value policies are unchanged from those disclosed in Note 9, “Financial Instruments,” to the Consolidated Financial Statements in Part II, Item 8 of its 2023 Form 10-K. As of March 31, 2024 and June 25, 2023, the fair value of mutual funds and debt and equity investments were not material. The financial statement impacts to the Condensed Consolidated Statement of Operations from debt and equity investments were not material as of and for the three and nine months ended March 31, 2024 and March 26, 2023.

The financial instruments reported within Cash and Cash Equivalents in the Company’s Condensed Consolidated Balance Sheets as of March 31, 2024, and June 25, 2023 consisted of the following:




		March 31, 2024		June 25, 2023
	(in thousands)

Money market funds (fair value measured on a recurring basis, level 1)		$	2,277,989	$	2,223,642














Cash		1,693,654		2,132,522
Time deposits		1,700,589		980,892
Total		$	5,672,232	$	5,337,056

In addition, as of June 25, 2023 the Company had time deposits of $250.0 million reported within Other assets in the Condensed Consolidated Balance Sheets.

Derivative Instruments and Hedging

The Company’s hedging strategies and policies are unchanged from those disclosed in Note 9, “Financial Instruments,” to the Consolidated Financial Statements in Part II, Item 8 of its 2023 Form 10-K. As of March 31, 2024 and June 25, 2023, the fair value of outstanding cash flow and balance sheet hedges were not material. The financial statement impacts to the Condensed Consolidated Statement of Operations from derivative instruments and hedging activities were not material as of and for the three and nine months ended March 31, 2024 and March 26, 2023.

Concentrations of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk and the Company’s mitigation strategies are unchanged from those disclosed in Note 9, “Financial Instruments,” to the Consolidated Financial Statements in Part II, Item 8 of its 2023 Form 10-K.