Fair Value Measurements (Tables)

9 Months Ended

Mar. 25, 2023

Fair Value Disclosures [Abstract]

Schedule of financial assets measured at fair value on a recurring basis

At March 2023 and June 2022, financial assets measured at fair value on a recurring basis are summarized below (in millions):

	March 2023
	Level 1		Level 2		Level 3		Total (1)
Assets:
Cash equivalents:
Money market funds	$	395.2	$	-	$	-	$	395.2
Certificates of deposit		-		50.6		-		50.6
Short-term investments:
Certificates of deposit		-		0.9		-		0.9
Corporate debt securities		-		31.0		-		31.0
Municipal bonds		-		4.0		-		4.0
Total assets	$	395.2	$	86.5	$	-	$	481.7

(1) Excludes $452.2 million in cash held in our bank accounts as of March 2023.
 

	June 2022
	Level 1		Level 2		Level 3		Total (1)
Assets:
Cash equivalents:
Money market funds	$	12.1	$	-	$	-	$	12.1
Short-term investments:
Certificates of deposit		-		2.4		-		2.4
Corporate debt securities		-		41.8		-		41.8
Municipal bonds		-		7.8		-		7.8
Total assets	$	12.1	$	52.0	$	-	$	64.1

(1) Excludes $811.9 million in cash held in our bank accounts as of June 2022.

Schedule of carrying amounts and estimated fair values of the Senior Notes and Term Debt

The carrying amounts and estimated fair values of the Senior Notes and Term Loan Facility are as follows for the periods presented (in millions):

	March 2023				June 2022
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Senior Notes due 2029	$	395.4	$	336.1	$	395.0	$	326.9
Term Loan Facility due 2028		583.5		579.5		586.7	$	575.0
	$	978.9	$	915.6	$	981.7	$	901.9