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Share-Based Compensation (Tables) | 12 Months Ended
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Jun. 24, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Share-Based Compensation Awards Available for Grant or Issuance | Share-based compensation awards available for grant or issuance for each plan as of the beginning of the fiscal year, including changes in the balance of awards available for grant for fiscal 2023, were as follows:
|  | Awards |  |  |  |  |  | 2019 |  |  | 2019 |  |  |  |  |  |  |
|  | Available |  |  | 2019 |  |  | Employee |  |  | Employee |  |  | 2010 |  |  |  |
|  | Under All |  |  | Incentive |  |  | Inducement |  |  | Stock |  |  | Incentive |  |  | DSPG |
|  | Share-Based |  |  | Compensation |  |  | Equity |  |  | Purchase |  |  | Compensation |  |  | Replacement Award |
|  | Award Plans |  |  | Plan |  |  | Plan |  |  | Plan |  |  | Plan |  |  | Plan |
Balance at June 2022 |  |  | 4,449,604 |  |  |  | 3,379,524 |  |  |  | — |  |  |  | 1,070,080 |  |  |  | — |  |  |  | — |
Additional shares authorized |  |  | 698,000 |  |  |  | 698,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Transferred between plans |  |  | — |  |  |  | 5,733 |  |  |  | — |  |  |  | — |  |  |  | (5,733 | ) |  |  | — |
Restricted stock units granted |  |  | (808,153 | ) |  |  | (808,153 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Market stock units granted |  |  | (110,885 | ) |  |  | (110,885 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Performance stock units granted |  |  | (157,710 | ) |  |  | (157,710 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Performance stock units performance adjustment |  |  | 141,565 |  |  |  | 142,899 |  |  |  | (1,334 | ) |  |  | — |  |  |  | — |  |  |  | — |
Market stock units performance adjustment |  |  | (168,796 | ) |  |  | (148,347 | ) |  |  | (20,449 | ) |  |  | — |  |  |  | — |  |  |  | — |
Purchases under employee stock purchase plan |  |  | (172,044 | ) |  |  | — |  |  |  |  |  |  | (172,044 | ) |  |  | — |  |  |  | — |
Forfeited |  |  | 103,689 |  |  |  | 95,727 |  |  |  | — |  |  |  | — |  |  |  | 5,733 |  |  |  | 2,229 |
Plan shares no longer available for new grants |  |  | 19,554 |  |  |  | — |  |  |  | 21,783 |  |  |  | — |  |  |  | — |  |  |  | (2,229 | )
Balance at June 2023 |  |  | 3,994,824 |  |  |  | 3,096,788 |  |  |  | — |  |  |  | 898,036 |  |  |  | — |  |  |  | — |
Share-Based Compensation, Cash-Based Awards and Related Tax Benefit Recognized in Condensed Consolidated Statements of Operations | Share-based compensation and the related tax benefit for our stock-based awards and our cash settled phantom stock units, which we granted in October 2019 (see Phantom Stock Units below) recognized in our consolidated statements of income for fiscal 2023, 2022, and 2021 were as follows (in millions):
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | Stock-based awards |  |  | Phantom Stock Units |  |  | Stock-based awards |  |  | Phantom Stock Units |  |  | Stock-based awards |  |  | Phantom Stock Units |
Cost of revenue |  | $ | 4.0 |  |  | $ | — |  |  | $ | 4.0 |  |  | $ | 0.2 |  |  | $ | 3.0 |  |  | $ | 0.4 |
Research and development |  |  | 52.4 |  |  |  | 0.3 |  |  |  | 42.5 |  |  |  | 27.2 |  |  |  | 23.5 |  |  |  | 21.9 |
Selling, general, and administrative |  |  | 65.6 |  |  |  | 0.3 |  |  |  | 54.3 |  |  |  | 4.7 |  |  |  | 39.6 |  |  |  | 4.7 |
Total |  | $ | 122.0 |  |  | $ | 0.6 |  |  | $ | 100.8 |  |  | $ | 32.1 |  |  | $ | 66.1 |  |  | $ | 27.0 |
Income tax benefit on share-based compensation |  | $ | 13.2 |  |  |  |  |  | $ | 23.1 |  |  |  |  |  | $ | 15.2 |  |  |  |
Schedule of Stock Option Activity | Certain stock option activity for fiscal 2023 and balances as of the end of fiscal 2023 were as follows:
|  | Stock |  |  | Weighted |  |  |  |
|  | Option |  |  | Average |  |  | Intrinsic |
|  | Awards |  |  | Exercise |  |  | Value |
|  | Outstanding |  |  | Price |  |  | (In millions) |
Balance at June 2022 |  |  | 31,185 |  |  | $ | 61.50 |  |  |  |
Exercised |  |  | (27,545 | ) |  | $ | 62.10 |  |  |  |
Expired |  |  | (557 | ) |  | $ | 81.88 |  |  |  |
Balance at June 2023 |  |  | 3,083 |  |  | $ | 52.53 |  |  | $ | 0.1 |
Exercisable at June 2023 |  |  | 3,083 |  |  | $ | 52.53 |  |  | $ | 0.1 |
Cash Received and Aggregate Intrinsic Value of Stock Options Exercised | Cash received and the aggregate intrinsic value of stock options exercised for fiscal 2023, 2022, and 2021 were as follows (in millions):
|  | 2023 |  |  | 2022 |  |  | 2021 |
Cash received |  | $ | 3.3 |  |  | $ | 5.3 |  |  | $ | 23.9 |
Aggregate intrinsic value |  | $ | 1.6 |  |  | $ | 3.6 |  |  | $ | 8.6 |
Shares Purchased, Weighted Average Purchase Price, Cash Received, and Aggregate Intrinsic Value for ESPP | Shares purchased, weighted average purchase price, cash received, and the aggregate intrinsic value for employee stock purchase plan purchases in fiscal 2023, 2022, and 2021 were as follows (in millions, except shares purchased and weighted average purchase price):
|  | 2023 |  |  | 2022 |  |  | 2021 |
Shares purchased |  |  | 172,044 |  |  |  | 138,502 |  |  |  | 220,389 |
Weighted average purchase price |  | $ | 91.88 |  |  | $ | 97.90 |  |  | $ | 57.00 |
Cash received |  | $ | 15.8 |  |  | $ | 13.6 |  |  | $ | 12.6 |
Aggregate intrinsic value |  | $ | 2.8 |  |  | $ | 12.5 |  |  | $ | 10.3 |
Phantom Stock Unit [Member] |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Schedule of Stock Units Activity | Phantom stock activity was as follows:
|  |  |  |  | Weighted |
|  | Phantom |  |  | Average |
|  | Stock Units |  |  | Grant Date |
|  | Outstanding |  |  | Fair Value |
Balance as of June 2022 |  |  | 176,097 |  |  | $ | 42.11 |
Paid |  |  | (173,436 | ) |  | $ | 42.11 |
Forfeited |  |  | (2,661 | ) |  | $ | 42.11 |
Balance as of June 2023 |  |  | — |  |  | $ | 0.00 |
Fair Value of Each Award Granted | The fair value of each MSU granted from our plans for fiscal 2023, 2022, and 2021 was estimated at the date of grant using the Monte Carlo simulation model, assuming no expected dividends and the following assumptions:
|  | 2023 |  |  | 2022 |  |  | 2021 |  |
Expected volatility of company |  |  | 55.22 | % |  |  | 52.61 | % |  |  | 53.62 | % |
Expected volatility of Index |  | 17.9% - 320.7% |  |  | 17.4% - 581.6% |  |  | 19.6% - 197.6% |  |
Correlation coefficient |  |  | 0.61 |  |  |  | 0.53 |  |  |  | 0.51 |  |
Expected life in years |  |  | 2.87 |  |  |  | 2.87 |  |  |  | 2.87 |  |
Risk-free interest rate |  |  | 3.24 | % |  |  | 0.40 | % |  |  | 0.17 | % |
Fair value per award |  | $218.15 - $438.24 |  |  | $284.43 - $342.89 |  |  | $131.34 - $175.15 |  |
Deferred stock units outstanding [Member] |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Schedule of Stock Units Activity | RSU activity, including RSUs granted, delivered, and forfeited in fiscal 2023, and the balance and aggregate intrinsic value of RSUs as of the end of fiscal 2023 were as follows:
|  |  |  |  | Average |
|  | RSU Awards |  |  | Grant Date |
|  | Outstanding |  |  | Fair Value |
Balance at June 2022 |  |  | 1,220,565 |  |  | $ | 119.83 |
Granted |  |  | 808,153 |  |  | $ | 129.14 |
Vested |  |  | (631,492 | ) |  | $ | 115.30 |
Forfeited |  |  | (92,300 | ) |  | $ | 137.60 |
Balance at June 2023 |  |  | 1,304,926 |  |  | $ | 126.50 |
Market stock units outstanding [Member] |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Schedule of Stock Units Activity | MSU activity, including MSUs granted, delivered, and forfeited in fiscal 2023, and the balance and aggregate intrinsic value of MSUs as of the end of fiscal 2023 were as follows:
|  |  |  |  | Weighted |
|  |  |  |  | Average |
|  | MSU Awards |  |  | Grant Date |
|  | Outstanding |  |  | Fair Value |
Balance at June 2022 |  |  | 251,974 |  |  | $ | 138.51 |
Granted |  |  | 110,885 |  |  | $ | 179.98 |
Performance adjustment |  |  | 168,796 |  |  | $ | — |
Vested |  |  | (304,334 | ) |  | $ | 104.04 |
Balance at June 2023 |  |  | 227,321 |  |  | $ | 235.67 |
Performance stock units outstanding [Member] |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Schedule of Stock Units Activity | PSU activity, including PSUs granted, delivered, and forfeited in fiscal 2023, and the balance and aggregate intrinsic value of PSUs as of the end of fiscal 2023 were as follows:
|  |  |  |  | Weighted |
|  |  |  |  | Average |
|  | PSU Awards |  |  | Grant Date |
|  | Outstanding |  |  | Fair Value |
Balance at June 2022 |  |  | 257,903 |  |  | $ | 101.50 |
Granted |  |  | 157,710 |  |  | $ | 119.50 |
Performance adjustment |  |  | 128,622 |  |  | $ | — |
Vested |  |  | (279,438 | ) |  | $ | 97.40 |
Forfeited |  |  | (11,438 | ) |  | $ | 123.12 |
Balance at June 2023 |  |  | 253,359 |  |  | $ | 125.40 |

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