Investments (Tables)

3 Months Ended

Sep. 29, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Short-term Investments by Type

(in millions of U.S. Dollars)	September 29, 2024
	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Credit Loss Allowance	Estimated Fair Value
U.S. treasury securities	$468.3	$0.9	($0.1)	$—	$469.1
Corporate bonds	378.9	1.3	(3.3)	—	376.9
Municipal bonds	89.3	0.3	(1.0)	—	88.6
Certificates of deposit	17.0	—	—	—	17.0
Commercial paper	9.9	—	—	—	9.9
Total short-term investments	$963.4	$2.5	($4.4)	$—	$961.5
	June 30, 2024
(in millions of U.S. Dollars)	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Credit Loss Allowance	Estimated Fair Value
U.S. treasury securities	$553.3	$—	($0.6)	$—	$552.7
Corporate bonds	423.5	0.2	(6.7)	—	417.0
Municipal bonds	102.8	—	(2.0)	—	100.8
Certificates of deposit	31.5	—	—	—	31.5
Commercial paper	16.7	—	—	—	16.7
U.S. agency securities	10.0	—	—	—	10.0
Total short-term investments	$1,137.8	$0.2	($9.3)	$—	$1,128.7

Schedule of Gross Unrealized Losses and Fair Value of Short-term Investments by Type and Length of Time

The following tables present the gross unrealized losses and estimated fair value of the Company’s short-term investments, aggregated by investment type and the length of time that individual securities have been in a continuous unrealized loss position (in millions of U.S. Dollars):

	September 29, 2024
	Less than 12 Months		Greater than 12 Months		Total
	Fair Value	Unrealized Loss	Fair Value	Unrealized Loss	Fair Value	Unrealized Loss
Corporate bonds	$9.2	$—	$161.7	($3.3)	$170.9	($3.3)
U.S. treasury securities	19.9	—	5.9	(0.1)	25.8	(0.1)
Municipal bonds	2.5	—	67.7	(1.0)	70.2	(1.0)
Total	$31.6	$—	$235.3	($4.4)	$266.9	($4.4)
Number of securities with an unrealized loss		68		44		112
	June 30, 2024
	Less than 12 Months		Greater than 12 Months		Total
	Fair Value	Unrealized Loss	Fair Value	Unrealized Loss	Fair Value	Unrealized Loss
Corporate bonds	$135.2	($0.2)	$183.4	($6.5)	$318.6	($6.7)
U.S. treasury securities	507.4	(0.4)	35.9	(0.2)	543.3	(0.6)
Municipal bonds	9.0	—	74.3	(2.0)	83.3	(2.0)
U.S. agency securities	14.9	—	10.0	—	24.9	—
Total	$666.5	($0.6)	$303.6	($8.7)	$970.1	($9.3)
Number of securities with an unrealized loss		141		66		207

Schedule of Contractual Maturities of Short-term Investments by Type

The contractual maturities of short-term investments as of September 29, 2024 were as follows:

 

(in millions of U.S. Dollars)	Within One Year	After One, Within Five Years	After Ten Years	Total
U.S. treasury securities	$444.2	$24.9	$—	$469.1
Corporate bonds	274.7	102.2	—	376.9
Municipal bonds	41.2	45.0	2.4	88.6
Certificates of deposit	17.0	—	—	17.0
Commercial paper	9.9	—	—	9.9
Total short-term investments	$787.0	$172.1	$2.4	$961.5