v3.26.1
Fair Value Measurements (Tables)
 9 Months Ended
Mar. 28, 2026
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets Measured at Fair Value on a Recurring Basis
Financial assets measured at fair value on a recurring basis are summarized below (in millions): 
Level 1 Level 2 Level 3Total
March 28, 2026: (1)
Assets:
Cash equivalents:
Certificates of deposit$281.5 $— $— $281.5 
Money market funds1,818.6 — — 1,818.6 
Short-term investments:
Commercial paper— 21.6 — 21.6 
Corporate debt securities— 303.2 — 303.2 
U.S. Agency securities— 126.9 — 126.9 
U.S. Treasury securities102.8 — — 102.8 
Total assets$2,202.9 $451.7 $— $2,654.6 
(1) Excludes $517.7 million in cash held in our bank accounts as of March 28, 2026.
Level 1Level 2Level 3Total
June 28, 2025 (1)
Assets:
Cash equivalents:
Commercial paper$— $2.5 $— $2.5 
Money market funds161.7 — — 161.7 
U.S. Treasury securities7.0 — — 7.0 
Short-term investments:
Commercial paper— 2.7 — 2.7 
Corporate debt securities— 211.1 — 211.1 
U.S. Agency securities— 67.7 — 67.7 
U.S. Treasury securities74.9 — — 74.9 
Total assets$243.6 $284.0 $— $527.6 
(1) Excludes $349.5 million in cash held in our bank accounts as of June 28, 2025.
Schedule of Fair Value Measurements, Recurring and Nonrecurring
The carrying amounts and estimated fair values of the convertible notes are as follows for the periods presented (in millions):
March 28, 2026June 28, 2025
Carrying AmountEstimated Fair ValueCarrying AmountEstimated Fair Value
2032 Notes$1,255.7 $4,867.2 $— $— 
2029 Notes600.9 6,262.3 600.2 925.5 
2028 Notes858.5 4,617.2 857.7 890.2 
2026 Notes468.3 3,328.0 1,048.3 1,233.3 
$3,183.4 $19,074.7 $2,506.2 $3,049.0 
As of March 28, 2026, the fair value of our Japan term loans in aggregate is lower than the carrying value by approximately $1.3 million.