XML 59 R43.htm IDEA: XBRL DOCUMENT
v3.19.2

Employee Pension and Other Benefit Plans (Tables) | 12 Months Ended
--- | ---
Jun. 29, 2019
Defined Benefit Plan [Abstract] |
Schedule of Net Periodic Cost | The following table presents the components of the net periodic benefit cost for the pension and benefits plans (in millions):
| Years Ended
| June 29, 2019 |  | June 30, 2018 |  | July 1, 2017
Service cost | $ | 0.2 |  |  | $ | 0.2 |  |  | $ | 0.3 |
Interest cost | 2.5 |  |  | 2.7 |  |  | 2.1 |
Expected return on plan assets | (1.6 | ) |  | (1.5 | ) |  | (1.1 | )
Recognized net actuarial losses | 1.8 |  |  | 1.5 |  |  | 1.9 |
Net periodic cost | $ | 2.9 |  |  | $ | 2.9 |  |  | $ | 3.2 |
Schedule of Changes in Benefit Obligations and Plan Assets | The changes in the benefit obligations and plan assets of the pension and benefits plans were (in millions):
| Pension Benefit Plans
| June 29, 2019 |  | June 30, 2018
Change in benefit obligation |  |  |
Benefit obligation at beginning of year | $ | 136.7 |  |  | $ | 133.4 |
Service cost | 0.2 |  |  | 0.2 |
Interest cost | 2.5 |  |  | 2.7 |
Actuarial (gains) losses | 10.0 |  |  | 1.8 |
Benefits paid | (5.4 | ) |  | (5.9 | )
Assumed benefit obligation from acquisition | — |  |  | 2.0 |
Foreign exchange impact | (4.0 | ) |  | 2.5 |
Benefit obligation at end of year | $ | 140.0 |  |  | $ | 136.7 |
Change in plan assets |  |  |
Fair value of plan assets at beginning of year | $ | 30.0 |  |  | $ | 28.3 |
Actual return on plan assets | 1.4 |  |  | 0.9 |
Employer contributions | 5.1 |  |  | 6.1 |
Benefits paid | (5.4 | ) |  | (5.9 | )
Assumed plan asset from acquisition | — |  |  | 0.2 |
Foreign exchange impact | (1.2 | ) |  | 0.4 |
Fair value of plan assets at end of year | $ | 29.9 |  |  | $ | 30.0 |
Funded status | $ | (110.1 | ) |  | $ | (106.7 | )
Accumulated benefit obligation | $ | 139.7 |  |  | $ | 136.4 |
Schedule of Defined Benefit Plan Amounts Recognized by Financial Statement Location |
| Pension Benefit Plans
| June 29, 2019 |  | June 30, 2018
Amount recognized in the Consolidated Balance Sheets at end of year: |  |  |
Current liabilities | $ | 7.3 |  |  | $ | 7.1 |
Non-current liabilities | 102.8 |  |  | 99.6 |
Net amount recognized at end of year | $ | 110.1 |  |  | $ | 106.7 |
Amount recognized in accumulated other comprehensive (loss) income at end of year: |  |  |
Actuarial losses, net of tax | $ | (28.6 | ) |  | $ | (23.1 | )
Net amount recognized at end of year | $ | (28.6 | ) |  | $ | (23.1 | )
Other changes in plan assets and benefit obligations recognized in other comprehensive (loss) income: |  |  |
Net actuarial gain (loss) | $ | (7.3 | ) |  | $ | (2.8 | )
Amortization of accumulated net actuarial losses | 1.8 |  |  | 1.5 |
Total recognized in other comprehensive (loss) income | $ | (5.5 | ) |  | $ | (1.3 | )
Schedule of Net Periodic Cost and Benefit Obligation Assumptions Used | 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
| June 29, 2019 |  | June 30, 2018 |  | July 1, 2017
Used to determine net period cost at end of year: |  |  |  |  |
Discount rate | 1.4 | % |  | 1.9 | % |  | 2.1 | %
Expected long-term return on plan assets | 5.6 |  |  | 5.7 |  |  | 4.8 |
Rate of pension increase | 2.3 |  |  | 2.3 |  |  | 2.2 |
Used to determine benefit obligation at end of year: |  |  |  |  |
Discount rate | 1.4 | % |  | 1.9 | % |  | 2.0 | %
Rate of pension increase | 2.3 |  |  | 2.3 |  |  | 2.3 |
Schedule of Percentage of Asset Allocations and Plan Assets at Fair Value | The following table sets forth the plan assets at fair value and the percentage of assets allocations as of June 29, 2019 (in millions, except percentage data):
|  |  |  |  |  |  | Fair value measurement as of
|  |  |  |  |  |  | June 29, 2019
| Target Allocation |  | Total |  | Percentage of Plan Assets |  | Level 1 |  | Level 2
Assets: |  |  |  |  |  |  |  |  |
Global equity | 40 | % |  | $ | 11.6 |  |  | 38.8 | % |  | $ | — |  |  | $ | 11.6 |
Fixed income | 40 | % |  | 11.5 |  |  | 38.5 | % |  | — |  |  | 11.5 |
Other | 20 | % |  | 6.7 |  |  | 22.4 | % |  | — |  |  | 6.7 |
Cash |  |  | 0.1 |  |  | 0.3 | % |  | 0.1 |  |  | — |
Total assets |  |  | $ | 29.9 |  |  | 100.0 | % |  | $ | 0.1 |  |  | $ | 29.8 |
The following table sets forth the plan’s 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 |  | Level 1 |  | 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 |
Schedule of Total Expected Benefit Payments | 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 fiscal year end and include benefits attributable to estimated future compensation increases (in millions).
| Pension Benefit Plans
2020 | $ | 8.1 |
2021 | 5.2 |
2022 | 5.4 |
2023 | 6.5 |
2024 | 5.8 |
2025 - 2029 | 27.3 |
Thereafter | 51.8 |
Total | $ | 110.1 |

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