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Acquisitions (Tables)

6 Months Ended

Dec. 31, 2017

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the provisional amounts recorded for the estimated fair values of the assets acquired and liabilities assumed as of the Conexant Closing Date (in millions):

Cash	$	4.3
Accounts receivable		11.7
Inventory		51.0
Other current assets		3.5
Property and equipment		3.2
Acquired intangible assets		152.5
Other assets		0.9
Total identifiable assets acquired		227.1
Accounts payable		14.2
Accrued compensation		1.1
Other accrued liabilities		9.0
Other long-term liabilities		3.0
Net identifiable assets acquired		199.8
Goodwill		146.4
Net assets acquired	$	346.2

Summary of Unaudited Pro Forma Financial Information Presents Combined Results of Operations

The following unaudited pro forma financial information (in millions, except per share data) presents the combined results of operations for us and Conexant as if the Conexant Acquisition had occurred on June 30, 2016. The unaudited pro forma financial information has been prepared for comparative purposes only and does not purport to be indicative of the actual operating results that would have been recorded had the Conexant Acquisition actually taken place on June 30, 2016, and should not be taken as indicative of future consolidated operating results. Additionally, the unaudited pro forma financial results do not include any anticipated synergies or other expected benefits from the Conexant Acquisition.

	Three Months Ended					Six Months Ended
	December 31,					December 31,
	2017			2016		2017			2016
Revenue	$	430.4		$	488.4	$	855.9		$	902.9
Net income/(loss)		(82.5	)		11.1		(109.4	)		5.4
Net income/(loss) per share		(2.42	)		0.32		(3.24	)		0.16

Summary of Pro Forma Adjustments Used to Arrive Pro Forma Net Income

Pro forma adjustments used to arrive at pro forma net income for the three months ended December 31, 2017 and 2016, were as follows (in millions):

	Three Months Ended						Six Months Ended
	December 31,						December 31,
	2017			2016			2017			2016
Buyer transaction costs	$	-		$	-		$	0.9		$	-
Interest expense		-			(4.7	)		-			(9.0	)
Intangible amortization		-			(7.7	)		(2.8	)		(12.6	)
Depreciation		(0.2	)		(0.2	)		(0.3	)		(0.5	)
Income tax adjustment		0.1			4.4			0.8			7.7
Total	$	(0.1	)	$	(8.2	)	$	(1.4	)	$	(14.4	)

Marvell Technology Group Ltd [Member]

Business Acquisition [Line Items]

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the provisional amounts recorded for the estimated fair values of the assets acquired and liabilities assumed as of the Marvell Business Acquisition date (in millions):

Inventory	$	28.4
Property and equipment		5.0
Acquired intangible assets		45.6
Total identifiable assets acquired		79.0
Accrued liabilities		0.4
Net identifiable assets acquired		78.6
Goodwill		15.1
Net assets acquired	$	93.7

Summary of Unaudited Pro Forma Financial Information Presents Combined Results of Operations

The following unaudited pro forma financial information (in millions, except per share data) presents the combined results of operations for us and Marvell as if the Marvell Business Acquisition had occurred on June 30, 2016. The unaudited pro forma financial information has been prepared for comparative purposes only and does not purport to be indicative of the actual operating results that would have been recorded had the Marvell Business Acquisition actually taken place on June 30, 2016, and should not be taken as indicative of future consolidated operating results. Additionally, the unaudited pro forma financial results do not include any anticipated synergies or other expected benefits from the Marvell Business Acquisition. As the Marvell Business Acquisition was an asset acquisition and only a portion of Marvell Multimedia Solutions Business was acquired, the unaudited pro forma financial information has been prepared using certain estimates.

	Three Months Ended					Six Months Ended
	December 31,					December 31,
	2017			2016		2017			2016
Revenue	$	430.4		$	461.3	$	903.8		$	925.6
Net income/(loss)		(82.1	)		17.1		(107.9	)		19.5
Net income/(loss) per share		(2.41	)		0.50		(3.19	)		0.57

Summary of Pro Forma Adjustments Used to Arrive Pro Forma Net Income

Pro forma adjustments used to arrive at pro forma net loss for the three and six months ended December 31, 2017 and 2016, were as follows (in millions):

	Three Months Ended						Six Months Ended
	December 31,						December 31,
	2017			2016			2017			2016
Buyer transaction costs	$	-		$	-		$	1.1		$	-
Interest expense		-			(4.8	)		-			(9.8	)
Intangible amortization		0.5			(4.0	)		(1.7	)		(5.2	)
Income tax adjustment		(0.2	)		3.1			0.2			5.3
Total	$	0.3		$	(5.7	)	$	(0.4	)	$	(9.7	)