v3.22.4
Fair Value Measurements (Tables)
6 Months Ended
Dec. 24, 2022
Fair Value Disclosures [Abstract]  
Schedule of financial assets measured at fair value on a recurring basis

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

 

 

December 2022

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total (1)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

440.0

 

 

$

-

 

 

$

-

 

 

$

440.0

 

Certificates of deposit

 

 

-

 

 

 

57.4

 

 

 

-

 

 

 

57.4

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit

 

 

-

 

 

 

1.1

 

 

 

-

 

 

 

1.1

 

Corporate debt securities

 

 

-

 

 

 

34.2

 

 

 

-

 

 

 

34.2

 

Municipal bonds

 

 

-

 

 

 

4.8

 

 

 

-

 

 

 

4.8

 

Total assets

 

$

440.0

 

 

$

97.5

 

 

$

-

 

 

$

537.5

 

 

(1) Excludes $321.5 million in cash held in our bank accounts as of December 2022.
 

 

 

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):

 

 

December 2022

 

 

June 2022

 

 

 

Carrying Amount

 

 

Estimated Fair Value

 

 

Carrying Amount

 

 

Estimated Fair Value

 

Senior Notes due 2029

 

$

395.3

 

 

$

339.0

 

 

$

395.0

 

 

$

326.9

 

Term Loan Facility due 2028

 

 

584.6

 

 

 

574.0

 

 

 

586.7

 

 

$

575.0

 

 

 

$

979.9

 

 

$

913.0

 

 

$

981.7

 

 

$

901.9