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Employee Pension and Other Benefit Plans (Tables)
12 Months Ended
Jul. 02, 2016
Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]  
Schedule of net periodic cost for the pension and benefits plans
The following table presents the components of the net periodic cost for the pension and benefits plans (in millions):
 
Years Ended
Pension Benefits
2016
 
2015
 
2014
Service cost
$
0.2

 
$
0.2

 
$
0.4

Interest cost
3.0

 
3.7

 
4.5

Expected return on plan assets
(1.5
)
 
(1.6
)
 
(1.4
)
Recognized net actuarial losses
0.7

 
0.4

 
0.1

Provision for legal proceeding
8.4

 

 

Net periodic benefit cost
$
10.8

 
$
2.7

 
$
3.6

Schedule of changes in the benefit obligations and plan assets of the pension and benefits plans
The changes in the benefit obligations and plan assets of the pension and benefits plans were (in millions):
 
Pension Benefit Plans
 
2016
 
2015
Change in benefit obligation
 
 
 
Benefit obligation at beginning of year
$
121.2

 
$
139.3

Service cost
0.2

 
0.2

Interest cost
3.0

 
3.7

Actuarial losses
14.5

 
3.9

Benefits paid
(4.7
)
 
(4.7
)
Provision for legal proceeding
8.4

 

Foreign exchange impact
(8.0
)
 
(21.2
)
Benefit obligation at end of year
$
134.6

 
$
121.2

Change in plan assets
 
 
 
Fair value of plan assets at beginning of year
30.2

 
30.5

Actual return on plan assets
1.8

 
1.7

Employer contributions
4.6

 
5.0

Benefits paid
(4.7
)
 
(4.7
)
Foreign exchange impact
(4.7
)
 
(2.3
)
Fair value of plan assets at end of year
$
27.2

 
$
30.2

Funded status
$
(107.4
)
 
$
(91.0
)
Accumulated benefit obligation
$
133.9

 
$
120.6

Schedule of defined benefit plan amounts recognized and locations in financial statements
 
Pension Benefit Plans
 
2016
 
2015
Amount recognized in the Consolidated Balance Sheets at end of year:
 
 
 
Current liabilities
$
5.5

 
$
4.8

Non-current liabilities
101.9

 
86.2

Net amount recognized at end of year
$
107.4


$
91.0

Amount recognized in Accumulated other comprehensive income at end of year:
 
 
 
Actuarial losses, net of tax
$
(24.4
)
 
$
(14.5
)
Net amount recognized at end of year
$
(24.4
)

$
(14.5
)
Other changes in plan assets and benefit obligations recognized in Other comprehensive loss:
 
 
 
Net actuarial losses
$
(10.6
)
 
$
(2.8
)
Amortization of accumulated net actuarial losses
0.7

 
0.4

Total recognized in other comprehensive loss
$
(9.9
)

$
(2.4
)
Schedule of assumptions used to determine net periodic cost and benefit obligation
The following table summarizes the weighted average assumptions used to determine net periodic cost and benefit obligation for the Company’s U.K. and German pension plans:
 
Pension Benefit Plans
 
2016
 
2015
 
2014
Weighted-average assumptions used to determine net period cost:
 
 
 
 
 
Discount rate
2.1
%
 
3.0
%
 
3.7
%
Expected long-term return on plan assets
5.3

 
5.8

 
5.4

Rate of pension increase
2.3

 
2.3

 
2.2

 
 
 
 
 
 
Weighted-average assumptions used to determine benefit obligation at end of year:
 
 
 
 
 
Discount rate
1.7
%
 
2.6
%
 
3.0
%
Rate of pension increase
2.1

 
2.2

 
2.2

Schedule of percentage of asset allocations and plan's assets at fair value
The following table sets forth the U.K. plan assets at fair value and the percentage of assets allocations as of July 2, 2016 (in millions, except percentage data):
 
 
 
 
 
 
 
Fair value measurement as of
 
 
 
 
 
 
 
July 2, 2016
 
Target Allocation
 
Total
 
Percentage of Plan Assets
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
Assets:
 
 
 
 
 
 
 
 
 
Global equity
40
%
 
$
10.5

 
38.6
%
 
$

 
$
10.5

Fixed income
40
%
 
10.7

 
39.3
%
 

 
10.7

Other
20
%
 
5.4

 
19.9
%
 

 
5.4

Cash
 
 
0.6

 
2.2
%
 
0.6

 

Total assets
 
 
$
27.2

 
100.0
%
 
$
0.6

 
$
26.6

The following table sets forth the plan’s assets at fair value and the percentage of assets allocations as of June 27, 2015 (in millions, except percentage data).
 
 
 
 
 
 
 
Fair value measurement as of
 
 
 
 
 
 
 
June 27, 2015
 
Target Allocation
 
Total
 
Percentage of Plan Assets
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
Assets:
 
 
 
 
 
 
 
 
 
Global equity
40
%
 
$
12.3

 
40.7
%
 
$

 
$
12.3

Fixed income
40
%
 
11.7

 
38.7
%
 

 
11.7

Other
20
%
 
5.9

 
19.5
%
 

 
5.9

Cash
 
 
0.3

 
1.0
%
 
0.3

 

Total assets
 
 
$
30.2

 
100.0
%
 
$
0.3

 
$
29.9

Schedule of total expected benefit payments to defined benefit pension plan participants
The following table reflects the total expected benefit payments to defined benefit pension plan participants. These payments have been estimated based on the same assumptions used to measure the Company’s PBO at year end and include benefits attributable to estimated future compensation increases.
(in millions)
Pension Benefit Plans
2017
$
6.6

2018
5.9

2019
6.0

2020
5.6

2021
5.8

2022 - 2026
31.6

Thereafter
45.9

Total
$
107.4


Timing of the payment relating to the legal proceeding, which is included in the above table under “Thereafter,” is not yet determined. Refer to “Note 17. Commitments and Contingencies” for further information.