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Acquisition (Tables) | 9 Months Ended
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Mar. 26, 2022
Business Acquisition [Line Items] |
Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary amounts recorded for the estimated fair values of the assets acquired and liabilities assumed as of the DSPG Closing Date (in millions):
Cash and cash equivalents |  | $ | 40.5 |
Short-term investments |  |  | 71.9 |
Accounts receivable, net |  |  | 12.9 |
Inventory |  |  | 22.6 |
Prepaid expenses and other current assets |  |  | 4.0 |
Property and equipment |  |  | 5.9 |
Intangible assets |  |  | 199.5 |
Right-of-use lease asset |  |  | 11.2 |
Severance pay fund |  |  | 16.2 |
Deferred tax asset |  |  | 6.4 |
Non-current other assets |  |  | 2.3 |
Total identifiable assets acquired |  |  | 393.4 |
Accounts payable |  |  | (6.7 | )
Other accrued expenses |  |  | (19.0 | )
Short-term lease liabilities |  |  | (1.7 | )
Long-term lease liabilities |  |  | (9.4 | )
Accrued severance |  |  | (16.4 | )
Deferred tax liability |  |  | (38.1 | )
Other long-term liabilities |  |  | (3.3 | )
Total liabilities |  |  | (94.6 | )
Net identifiable assets acquired |  |  | 298.8 |
Goodwill |  |  | 244.5 |
Net assets acquired |  | $ | 543.3 |
Summary of Estimated Fair Value of Intangible Assets | The following table summarizes the preliminary estimated fair value of the intangible assets as of the DSPG Closing Date (in millions):
|  | Estimated Weighted Average Useful Lives in Years |  |  | Estimated Fair Value |
Developed technology |  |  | 5.0 |  |  | $ | 107.5 |
Customer contracts and related relationships |  |  | 4.0 |  |  |  | 65.0 |
In process research and development |  | N/A |  |  |  | 15.0 |
Backlog |  |  | 1.0 |  |  |  | 11.0 |
Trade name |  |  | 1.0 |  |  |  | 1.0 |
Estimated fair value of acquired intangibles |  |  |  |  | $ | 199.5 |

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- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
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