XML 58 R44.htm IDEA: XBRL DOCUMENT v3.10.0.1

Employee Pension and Other Benefit Plans (Tables)

12 Months Ended

Jun. 30, 2018

Defined Benefit Plan [Abstract]

Schedule of net periodic cost for the pension and benefits plans

The following table presents the components of the net periodic benefit cost for the pension and benefits plans (in millions):

	Years Ended
	2018				2017				2016
Service cost	$	0.2			$	0.3			$	0.2
Interest cost	2.7				2.1				3.0
Expected return on plan assets	(1.5		)		(1.1		)		(1.5		)
Recognized net actuarial losses	1.5				1.9				0.7
Provision for legal proceeding	—				—				8.4
Net periodic cost	$	2.9			$	3.2			$	10.8

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
	2018				2017
Change in benefit obligation
Benefit obligation at beginning of year	$	133.4			$	134.6
Service cost	0.2				0.3
Interest cost	2.7				2.1
Actuarial (gains) losses	1.8				(1.2		)
Benefits paid	(5.9		)		(4.2		)
Assumed benefit obligation from acquisition	2.0				—
Foreign exchange impact	2.5				1.8
Benefit obligation at end of year	$	136.7			$	133.4
Change in plan assets
Fair value of plan assets at beginning of year	$	28.3			$	27.2
Actual return on plan assets	0.9				2.0
Employer contributions	6.1				4.0
Benefits paid	(5.9		)		(4.2		)
Assumed plan asset from acquisition	0.2				—
Foreign exchange impact	0.4				(0.7		)
Fair value of plan assets at end of year	$	30.0			$	28.3
Funded status	$	(106.7	)		$	(105.1	)
Accumulated benefit obligation	$	136.4			$	133.0

Schedule of defined benefit plan amounts recognized and locations in financial statements

	Pension Benefit Plans
	2018				2017
Amount recognized in the Consolidated Balance Sheets at end of year:
Current liabilities	$	7.1			$	6.8
Non-current liabilities	99.6				98.3
Net amount recognized at end of year	$	106.7			$	105.1
Amount recognized in accumulated other comprehensive (loss) income at end of year:
Actuarial losses, net of tax	$	(23.0	)		$	(21.8	)
Net amount recognized at end of year	$	(23.0	)		$	(21.8	)
Other changes in plan assets and benefit obligations recognized in other comprehensive (loss) income:
Net actuarial gain (loss)	$	(2.8	)		$	0.7
Amortization of accumulated net actuarial losses	1.5				1.9
Total recognized in other comprehensive (loss) income	$	(1.3	)		$	2.6

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
	2018			2017			2016
Used to determine net period cost at end of year:
Discount rate	1.9	%		2.1	%		2.1	%
Expected long-term return on plan assets	5.7			4.8			5.3
Rate of pension increase	2.3			2.2			2.3
Used to determine benefit obligation at end of year:
Discount rate	1.9	%		2.0	%		1.7	%
Rate of pension increase	2.3			2.3			2.1

Schedule of percentage of asset allocations and plan's assets at fair value

The following table sets forth the plan assets at fair value and the percentage of assets allocations as of June 30, 2018 (in millions, except percentage data):

											Fair value measurement as of
											June 30, 2018
	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	%		$	12.0			40.0	%		$	—			$	12.0
Fixed income	40	%		11.1				37.0	%		—				11.1
Other	20	%		6.8				22.7	%		—				6.8
Cash				0.1				0.3	%		0.1				—
Total assets				$	30.0			100.0	%		$	0.1			$	29.9

The following table sets forth the plan’s assets at fair value and the percentage of assets allocations as of July 1, 2017 (in millions, except percentage data).

											Fair value measurement as of
											July 1, 2017
	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	%		$	11.7			41.3	%		$	—			$	11.7
Fixed income	40	%		10.7				37.8	%		—				10.7
Other	20	%		5.8				20.5	%		—				5.8
Cash				0.1				0.4	%		0.1				—
Total assets				$	28.3			100.0	%		$	0.1			$	28.2

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
2019	$	8.1
2020	5.8
2021	5.9
2022	6.2
2023	7.0
2024 - 2028	31.1
Thereafter	42.6
Total	$	106.7

X

- Definition

Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)(b)(c)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ChangesInProjectedBenefitObligationsFairValueOfPlanAssetsAndFundedStatusOfPlanTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_DefinedBenefitPensionPlansAndDefinedBenefitPostretirementPlansDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(5)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (k)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920

+ Details

Name:	us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position), accumulated other comprehensive income (loss), and other comprehensive income (loss) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized.

+ References

No definition available.

+ Details

Name:	viav_ScheduleOfDefinedBenefitPlanAmountsRecognizedAndLocationsInFinancialStatementsTableTextBlock
Namespace Prefix:	viav_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration