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Recently Issued Accounting Pronouncements (Tables) | 6 Months Ended
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Dec. 29, 2018
New Accounting Pronouncements and Changes in Accounting Principles [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 our 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 | 720.7 |  |  | 14.2 |  |  | 734.9 |
Total liabilities and stockholders’ equity | $ | 2,022.6 |  |  | $ | 4.2 |  |  | $ | 2,026.8 |
The following table presents the impact of the revenue standard adoption to select line items of our previously reported Consolidated Statement of Operations for the three and six months ended December 30, 2017 (in millions, except per share data) as follows:
| Three months ended December 30, 2017 |  | Six months ended December 30, 2017
| As Reported |  | Adjustment |  | As Adjusted |  | As Reported |  | Adjustment |  | As Adjusted
Revenues: |  |  |  |  |  |  |  |  |  |  |
Product revenue | $ | 177.5 |  |  | $ | 3.8 |  |  | $ | 181.3 |  |  | $ | 349.4 |  |  | $ | (3.0 | ) |  | $ | 346.4 |
Service revenue | 24.3 |  |  | (0.2 | ) |  | 24.1 |  |  | 47.6 |  |  | 2.3 |  |  | 49.9 |
Total net revenue | 201.8 |  |  | 3.6 |  |  | 205.4 |  |  | 397.0 |  |  | (0.7 | ) |  | 396.3 |
Cost of revenues: |  |  |  |  |  |  |  |  |  |  |
Product cost of revenue | 69.6 |  |  | (0.1 | ) |  | 69.5 |  |  | 133.1 |  |  | (1.0 | ) |  | 132.1 |
Service cost of revenue | 12.0 |  |  | 0.4 |  |  | 12.4 |  |  | 23.4 |  |  | 0.5 |  |  | 23.9 |
Amortization of acquired technologies | 4.1 |  |  | — |  |  | 4.1 |  |  | 8.2 |  |  | — |  |  | 8.2 |
Total cost of revenue | 85.7 |  |  | 0.3 |  |  | 86.0 |  |  | 164.7 |  |  | (0.5 | ) |  | 164.2 |
Gross profit | 116.1 |  |  | 3.3 |  |  | 119.4 |  |  | 232.3 |  |  | (0.2 | ) |  | 232.1 |
Income from operations | 3.7 |  |  | 3.2 |  |  | 6.9 |  |  | 13.7 |  |  | (0.1 | ) |  | 13.6 |
Loss before taxes | (5.1 | ) |  | 3.2 |  |  | (1.9 | ) |  | (7.4 | ) |  | (0.1 | ) |  | (7.5 | )
(Benefit from) provision for income taxes | (1.4 | ) |  | 0.6 |  |  | (0.8 | ) |  | 1.1 |  |  | 0.1 |  |  | 1.2 |
Net loss | $ | (3.7 | ) |  | $ | 2.6 |  |  | $ | (1.1 | ) |  | $ | (8.5 | ) |  | $ | (0.2 | ) |  | $ | (8.7 | )
Net loss per common share: |  |  |  |  |  |  |  |  |  |  |
Basic and dilutive | $ | (0.02 | ) |  | $ | 0.02 |  |  | $ | 0.00 |  |  | $ | (0.04 | ) |  | $ | — |  |  | $ | (0.04 | )
Shares used in per share calculations: |  |  |  |  |  |  |  |  |  |  |
Basic and dilutive | 227.4 |  |  | — |  |  | 227.4 |  |  | 227.7 |  |  | — |  |  | 227.7 |

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