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Organization and Summary of Significant Accounting Policies (Tables)
12 Months Ended
Jun. 25, 2022
Accounting Policies [Abstract]  
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 2022 and 2021:

 

 

 

2022

 

2021

Customer A

 

17%

 

15%

Customer B

 

15%

 

12%

Inventories

Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value as of the end of fiscal 2022 and 2021, and consisted of the following (in millions):

 

 

 

2022

 

 

2021

 

Raw materials and work-in-progress

 

$

92.2

 

 

$

49.1

 

Finished goods

 

 

77.5

 

 

 

32.9

 

 

 

$

169.7

 

 

$

82.0

 

 

Schedule of Changes in Goodwill

The following table presents our goodwill balance as of June 25, 2022 and June 26, 2021 (in millions):

 

 

2022

 

 

2021

 

Beginning balance

 

$

570.0

 

 

$

360.8

 

Acquisition activity

 

 

236.6

 

 

 

209.2

 

Ending balance

 

$

806.6

 

 

$

570.0

 

Other Accrued Liabilities

As of the end of fiscal 2022 and 2021, other accrued liabilities consisted of the following (in millions):

 

 

 

2022

 

 

2021

 

Customer obligations

 

$

88.6

 

 

$

43.1

 

Inventory obligations

 

 

14.1

 

 

 

17.0

 

Operating lease liabilities

 

 

7.6

 

 

 

9.3

 

Other

 

 

35.0

 

 

 

26.8

 

 

 

$

145.3

 

 

$

96.2

 

Other Long-Term Accrued Liabilities

As of the end of fiscal 2022 and 2021, other long-term accrued liabilities consisted of the following (in millions):

 

 

 

 

 

 

 

 

 

 

2022

 

 

2021

 

Income taxes payable, long-term

 

$

29.1

 

 

$

15.4

 

Non-current deferred tax liability

 

 

52.6

 

 

 

27.1

 

Operating lease liabilities, long-term

 

 

51.5

 

 

 

24.0

 

Other

 

 

19.4

 

 

 

12.0

 

 

 

$

152.6

 

 

$

78.5