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Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 29, 2019

Investments in Available-for-Sale Securities and Cash Equivalents

Our cash equivalents and investments classified as available-for-sale securities as of the end of fiscal 2019 and 2018 were as follows (in millions):

		2019
						Gross
		Amortized				Unrealized				Fair
		Cost				Gains				Value
Reported as cash equivalents:
Money market funds		$	313.7			$	—			$	313.7
Total available-for-sale securities		$	313.7			$	—			$	313.7

		2018
						Gross
		Amortized				Unrealized				Fair
		Cost				Gains				Value
Reported as cash equivalents:
Money market funds		$	275.2			$	—			$	275.2
Reported as non-current assets:
Auction rate securities			—				1.5				1.5
Total available-for-sale securities		$	275.2			$	1.5			$	276.7

Financial Assets Measured at Fair Value on a Recurring Basis

Financial assets measured at fair value on a recurring basis, by level within the fair value hierarchy, as of the end of fiscal 2019 and 2018 were as follows (in millions):

		2019												2018
		Level 1				Level 2				Level 3				Level 1				Level 2				Level 3
Assets:
Money market		$	313.7			$	—			$	—			$	275.2			$	—			$	—
Auction rate securities			—				—				—				—				—				1.5
Total available-for-sale    securities		$	313.7			$	—			$	—			$	275.2			$	—			$	1.5

Changes in Fair Value of Level 3 Financial Assets

Changes in fair value of our Level 3 financial assets for fiscal 2019 and 2018 were as follows (in millions):

		2019				2018
Beginning balance		$	1.5			$	1.5
Redemptions			(1.5	)			—
Ending balance		$	—			$	1.5

Accounts Receivable Balance Percentage of Different Customers

The following customers accounted for more than 10% of our accounts receivable balance as of the end of fiscal 2019 and 2018:

		2019			2018
Customer A		25%			13%
Customer B		16%			*
Customer C		*			11%
Customer D		*			10%

* Less than 10%

Inventories

Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value as of the end of fiscal 2019 and 2018 and consisted of the following (in millions):

		2019				2018
Raw materials and work-in-progress		$	110.7			$	105.0
Finished goods			48.0				26.2
		$	158.7			$	131.2

Schedule of Changes in Goodwill

Goodwill represents the excess of the purchase price over the fair value of net tangible and identifiable intangible assets acquired.  Changes in our goodwill balance for fiscal 2019 and 2018 were as follows (in millions):

		2019				2018
Beginning balance		$	372.8			$	206.8
Acquisition activity			—				166.0
Ending balance		$	372.8			$	372.8

Other Accrued Liabilities

As of the end of fiscal 2019 and 2018, other accrued liabilities consisted of the following (in millions):

		2019				2018
Customer obligations		$	52.0			$	26.4
Inventory obligations			26.7				28.8
Warranty			4.0				5.5
Other			23.4				19.0
		$	106.1			$	79.7

Topic 606 [Member]

Topic 606 Disclosure of Impact of Adoption to Condensed Consolidated Statements

Adjustments reflected in the consolidated balance sheets:

		As of June 30, 2019
										Pro forma as if
		As reported under								previous standard
		new standard				Adjustments				was in effect
Accounts receivable, net		$	230.0			$	(5.0	)		$	225.0
Inventories			158.7				0.9				159.6
Prepaid expenses and other current assets			14.6				(0.9	)			13.7
Total assets			1,409.8				(5.0	)			1,404.8
Other accrued liabilities			106.1				(5.0	)			101.1
Total liabilities and stockholders' equity			1,409.8				(5.0	)			1,404.8

Adjustments reflected in the consolidated statement of cash flows:

		Twelve Months Ended June 30, 2019
										Pro forma as if
		As reported under								previous standard
		new standard				Adjustments				was in effect
Cash flows from operating activities:
Accounts receivable, net		$	64.3			$	(0.2	)		$	64.1
Inventories			(27.5	)			(0.6	)			(28.1	)
Prepaid expenses and other current assets			3.6				0.6				4.2
Other accrued liabilities			20.5				0.2				20.7

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