Cash, Cash Equivalents and Short-term Investments (Tables)

The following table summarizes our cash, cash equivalents and short-term investments by category for the periods presented (in millions):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
March 28, 2026:
Cash	$	517.7	$	—	$	—	$	517.7
Cash equivalents:
Certificates of deposit	281.5		—		—		281.5


Money market funds	1,818.6		—		—		1,818.6





Total cash and cash equivalents	$	2,617.8	$	—	$	—	$	2,617.8
Short-term investments:

Commercial paper	21.6		—		—		21.6

Corporate debt securities	304.2		0.1		(1.1)		303.2



U.S. Agency securities	127.1		—		(0.2)		126.9
U.S. Treasury securities	102.9		0.1		(0.2)		102.8
Total short-term investments	$	555.8	$	0.2	$	(1.5)	$	554.5

June 28, 2025:
Cash	$	349.5	$	—	$	—	$	349.5
Cash equivalents:
Commercial paper	2.5		—		—		2.5

Money market funds	161.7		—		—		161.7
U.S. Treasury securities	7.0		—		—		7.0

Total cash and cash equivalents	$	520.7	$	—	$	—	$	520.7
Short-term investments:

Commercial paper	$	2.7	$	—	$	—	$	2.7

Corporate debt securities	210.9		0.3		(0.1)		211.1



U.S. Agency securities	67.6		0.1		—		67.7
U.S. Treasury securities	74.8		0.1		—		74.9
Total short-term investments	$	356.0	$	0.5	$	(0.1)	$	356.4

The following table summarizes unrealized losses on our cash equivalents and short-term investments by category that have been in a continuous unrealized loss position for more than 12 months and less than 12 months as of the periods presented, respectively (in millions):


	Continuous Loss Position for More Than 12 Months				Continuous Loss Position for Less Than 12 Months				Gross Unrealized Losses
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
March 28, 2026:
U.S. Agency securities	$	—	$	—	$	99.7	$	(0.2)	$	(0.2)

Commercial paper	—		—		21.6		—		—

Corporate debt securities	—		—		244.9		(1.1)		(1.1)



U.S. government bonds	—		—		67.1		(0.2)		(0.2)
Total	$	—	$	—	$	433.3	$	(1.5)	$	(1.5)

June 28, 2025:
U.S. Agency securities	$	—	$	—	$	24.5	$	—	$	—

Commercial paper	—		—		5.2		—		—
Corporate debt securities	—		—		73.8		(0.1)		(0.1)


U.S. government bonds	—		—		35.3		—		—
Total	$	—	$	—	$	138.8	$	(0.1)	$	(0.1)

The following table classifies our short-term investments by remaining maturities (in millions):


	March 28, 2026				June 28, 2025
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due within 1 year	$	209.0	$	209.1	$	139.9	$	140.0
Due in 1 year to 5 years	346.8		345.4		216.1		216.4


Total	$	555.8	$	554.5	$	356.0	$	356.4