v3.25.1

Fair value of financial instruments (Tables)

9 Months Ended

Mar. 28, 2025

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Measured at Fair Value on Recurring Basis

The following table provides details of the financial instruments measured at fair value on a recurring basis, including:

			Fair Value Measurements at Reporting Date Using
(in thousands)			Level 1						Level 2									Level 3						Total
As of March 28, 2025
Assets
Cash equivalents			$	—					$	48								$	—					$	48
Certificates of deposit and time deposits			—						249,005									—						249,005
Corporate debt securities			—						136,587									—						136,587
U.S. agency and U.S. treasury securities			—						258,180									—						258,180
Derivative assets – current portion			—						347			(1)						—						347
Total			$	—					$	644,167								$	—					$	644,167
Liabilities
Derivative liabilities – current portion			$	—					$	(1,129)		(2)						$	—					$	(1,129)
Total			$	—					$	(1,129)								$	—					$	(1,129)

			Fair Value Measurements at Reporting Date Using
(in thousands)			Level 1						Level 2									Level 3						Total
As of June 28, 2024
Assets
Cash equivalents			$	—					$	35								$	—					$	35
Certificates of deposit and time deposits			—						134,283									—						134,283
Corporate debt securities			—						136,763									—						136,763
U.S. agency and U.S. treasury securities			—						177,584									—						177,584
Derivative assets – current portion			—						15			(3)						—						15
Total			$	—					$	448,680								$	—					$	448,680
Liabilities
Derivative liabilities – current portion			$	—					$	(2,244)		(4)						$	—					$	(2,244)
Total			$	—					$	(2,244)								$	—					$	(2,244)

(1)Foreign currency forward contracts with an aggregate notional amount of $50.0 million.

(2)Foreign currency forward contracts with an aggregate notional amount of $105.0 million and 0.4 million Canadian dollars.

(3)Foreign currency forward contracts with an aggregate notional amount of $8.0 million.

(4)Foreign currency forward contracts with an aggregate notional amount of $127.0 million and 0.4 million Canadian dollars.

Schedule of Impacts of Derivative Gain (Loss) of Cash Flow Hedges

The following table provides a summary of the impact of derivative gain (loss) of the Company’s foreign currency forward contracts and interest rate swaps which were designated as cash flow hedges on the unaudited condensed consolidated statements of operations and other comprehensive income:

									Three Months Ended												Nine Months Ended
(in thousands)			Financial statements line item						March 28, 2025						March 29, 2024						March 28, 2025						March 29, 2024
Derivatives gain (loss) recognized in other comprehensive income (loss):
Foreign currency forward contracts			Other comprehensive income (loss)						$	1,505					$	(8,120)					$	1,448					$	1,434
Interest rate swaps			Other comprehensive income (loss)						—						(41)						—						(194)
Total derivatives gain (loss) recognized in other comprehensive income (loss)									$	1,505					$	(8,161)					$	1,448					$	1,240
Derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings:
Foreign currency forward contracts			Cost of revenues						$	2,255					$	(2,805)					$	(2,231)					$	5,650
Foreign currency forward contracts			SG&A						176						(121)						(169)						233
Foreign currency forward contracts			Foreign exchange gain (loss), net						(1,963)						4,250						1,970						(6,170)
Interest rate swaps			Interest expense						—						(44)						—						(198)
Total derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings									$	468					$	1,280					$	(430)					$	(485)
Change in net unrealized gain (loss) on derivatives instruments									$	1,973					$	(6,881)					$	1,018					$	755

Schedule of Derivative Financial Instruments

The following table provides the fair values of the Company’s derivative financial instruments for the periods presented:

			March 28, 2025												June 28, 2024
(in thousands)			Derivative Assets						Derivative Liabilities						Derivative Assets						Derivative Liabilities
Derivatives not designated as hedging instruments
Foreign currency forward and option contracts			$	61					$	(701)					$	—					$	(1,088)
Derivatives designated as hedging instruments
Foreign currency forward contracts			286						(428)						15						(1,156)
Derivatives, gross balances			$	347					$	(1,129)					$	15					$	(2,244)

Schedule of Derivative Financial Instruments in the Unaudited Condensed Consolidated Balance Sheets

The Company recorded the fair value of derivative financial instruments in the unaudited condensed consolidated balance sheets as follows:

Derivative Financial Instruments			Balance Sheet line item
Fair Value of Derivative Assets			Other current assets, Other non-current assets
Fair Value of Derivative Liabilities			Accrued expenses, Other non-current liabilities

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Derivative Financial Instruments In The Unaudited Condensed Consolidated Balance Sheets

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Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity.

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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