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Recently Issued Accounting Pronouncements (Tables)
 12 Months Ended
Jun. 29, 2019
Accounting Policies [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles
The following table presents the impact of the revenue standard adoption, to select line items of the Company’s Consolidated Balance Sheet as of June 30, 2018, (in millions):
 
June 30, 2018
 
As Reported
 
Adjustment
 
As Adjusted
ASSETS
 
 
 
 
 
Accounts receivable, net
$
217.5

 
$
1.1

 
$
218.6

Prepayments and other assets
54.8

 
1.5

 
56.3

Deferred income taxes
114.5

 
(0.2
)
 
114.3

Other non-current assets
13.6

 
1.8

 
15.4

Total assets
$
2,022.6

 
$
4.2

 
$
2,026.8

LIABILITIES AND STOCKHOLDERS’ EQUITY
 
 
 
 
 
Deferred revenue
$
71.9

 
$
(11.3
)
 
$
60.6

Accrued payroll and related expenses
51.4

 
1.4

 
52.8

Other current liabilities
77.0

 
1.9

 
78.9

Other non-current liabilities
182.8

 
(2.0
)
 
180.8

Total stockholders’ equity (1)
720.7

 
14.2

 
734.9

Total liabilities and stockholders’ equity
$
2,022.6

 
$
4.2

 
$
2,026.8

(1)    Reflects the cumulative impact of $23.8 million on total stockholders’ equity from the revenue standard adoption as of the beginning of fiscal 2017
The following table presents the impact of the revenue standard adoption to select line items of the Company’s previously reported Consolidated Statements of Operations for the twelve months ended June 30, 2018 and July 1, 2017 (in millions, except per share data):
 
Twelve Months Ended June 30, 2018
 
Twelve Months Ended July 1, 2017
 
As Reported
 
Adjustment
 
As Adjusted
 
As Reported
 
Adjustment
 
As Adjusted
Revenues:
 
 
 
 
 
 
 
 
 
 
 
Product revenue
$
783.1

 
$
(10.6
)
 
$
772.5

 
$
726.4

 
$
(20.4
)
 
$
706.0

Service revenue
97.3

 
5.9

 
103.2

 
85.0

 
14.0

 
99.0

Total net revenue
880.4

 
(4.7
)
 
875.7

 
811.4

 
(6.4
)
 
805.0

Cost of revenues:
 
 

 
 
 
 
 

 
 
Product cost of revenue
314.7

 
(4.1
)
 
310.6

 
260.9

 
(1.3
)
 
259.6

Service cost of revenue
46.8

 
3.2

 
50.0

 
50.2

 
1.9

 
52.1

Amortization of acquired technologies
26.7

 
—

 
26.7

 
14.3

 
—

 
14.3

Total cost of revenue
388.2

 
(0.9
)
 
387.3

 
325.4

 
0.6

 
326.0

Gross profit
492.2

 
(3.8
)
 
488.4

 
486.0

 
(7.0
)
 
479.0

Income from operations
5.1

 
(3.2
)
 
1.9

 
13.6

 
(6.6
)
 
7.0

(Loss) income before taxes
(32.6
)
 
(3.1
)
 
(35.7
)
 
186.6

 
(6.6
)
 
180.0

Provision for income taxes
13.4

 
(0.5
)
 
12.9

 
21.3

 
0.1

 
21.4

Net (loss) income
$
(46.0
)
 
$
(2.6
)
 
$
(48.6
)
 
$
166.9

 
$
(6.7
)
 
$
160.2

 
 
 

 
 
 
 
 
 
 
 
Net loss per common share:
 
 

 
 
 
 
 
 
 
 
Basic
$
(0.20
)
 
$
(0.01
)
 
$
(0.21
)
 
$
0.73

 
$
(0.03
)
 
$
0.70

Diluted
$
(0.20
)
 
$
(0.01
)
 
$
(0.21
)
 
$
0.71

 
$
(0.03
)
 
$
0.68

 
 
 
 
 
 
 
 
 
 
 
 
Shares used in per share calculations:
 
 
 
 
 
 
 
 
 
 
 
Basic
227.1

 
 
 
227.1

 
229.9

 
 
 
229.9

Diluted
227.1

 
 
 
227.1

 
234.5

 
 
 
234.5