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Acquisitions (Tables) | 12 Months Ended
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Jul. 03, 2021
Business Combination and Asset Acquisition [Abstract] |
Fair Value of Consideration Transferred | The fair value of consideration transferred for the 3Z acquisition consists of the following (in millions):
Cash consideration paid at closing |  | $ | 18.9 |
Escrow payments |  | 4.3 |
Fair value of contingent consideration |  | 5.5 |
Total purchase consideration |  | $ | 28.7 |
The fair value of consideration transferred for the RPC acquisition consists of the following (in millions):
Cash consideration paid at closing |  | $ | 29.9 |
Escrow payments |  | 3.5 |
Fair value of contingent consideration |  | 36.2 |
Total purchase consideration |  | $ | 69.6 |
Preliminary Identified Intangible Assets Acquired | The identified tangible and intangible assets acquired, on the acquisition date, were as follows (in millions):
Tangible assets acquired |  | $ | 4.1 |
Intangible assets acquired: |  |
Developed technology |  | 4.4 |
Customer relationships |  | 7.9 |
Customer backlog |  | 0.1 |
Goodwill |  | 12.2 |
Total consideration transferred |  | $ | 28.7 |
The identified tangible and intangible assets, on the acquisition date, were as follows (in millions):
Tangible assets acquired: |  | $ | 5.7 |
Intangible assets acquired: |  |
Developed technology |  | 15.7 |
Customer relationships |  | 14.0 |
Customer backlog |  | 0.3 |
Goodwill |  | 33.9 |
Total consideration transferred |  | $ | 69.6 |
Preliminary Allocation of Purchase Price | The allocation of the purchase price to tangible assets, based on the estimated fair values of assets acquired and liabilities assumed, was as follows (in millions):
Cash |  | $ | 2.2 |
Total other assets |  | 3.6 |
Total liabilities |  | (1.7) |
Net tangible assets acquired |  | $ | 4.1 |
The allocation of the purchase price to tangible assets, based on the estimated fair values of assets acquired and liabilities assumed, was as follows (in millions):
Cash |  | $ | 1.8 |
Other current assets |  | 1.8 |
Property and equipment |  | 2.6 |
Total liabilities |  | (0.5) |
Net tangible assets acquired |  | $ | 5.7 |
Schedule of Changes in Earn-out Liabilities | The following table provides a reconciliation of changes in fair value of the Company’s earn-out liabilities for the years ended July 3, 2021 and June 27, 2020, as follows (in millions):
| RPC |  | Other (1) |  | Total
Balance: June 29, 2019 | $ | 30.3 |  |  | $ | 8.1 |  |  | $ | 38.4 |
Additions to Contingent Consideration | — |  |  | 3.7 |  |  | 3.7 |
Change in Fair Value measurement | (29.6) |  |  | (1.9) |  |  | (31.5) |
Payments of Contingent Consideration | (0.7) |  |  | — |  |  | (0.7) |
Balance: June 27, 2020 | $ | — |  |  | $ | 9.9 |  |  | $ | 9.9 |
Change in Fair Value measurement | — |  |  | (4.7) |  |  | (4.7) |
Payments of Contingent Consideration | — |  |  | (1.2) |  |  | (1.2) |
Balance July 3, 2021 | $ | — |  |  | $ | 4.0 |  |  | $ | 4.0 |
(1)See Note 5. Acquisitions and of the Notes to the Company’s Consolidated Financial Statements for more detail. The Company’s assets and liabilities measured at fair value for the periods presented are as follows (in millions):
| July 3, 2021 |  | June 27, 2020
| Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Debt available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities | $ | 0.4 |  |  | $ | — |  |  | $ | 0.4 |  |  | $ | — |  |  | $ | 0.5 |  |  | $ | — |  |  | $ | 0.5 |  |  | $ | — |
Total debt available-for-sale securities | 0.4 |  |  | — |  |  | 0.4 |  |  | — |  |  | 0.5 |  |  | — |  |  | 0.5 |  |  | — |
Money market funds | 408.9 |  |  | 408.9 |  |  | — |  |  | — |  |  | 334.6 |  |  | 334.6 |  |  | — |  |  | — |
Trading securities | 1.6 |  |  | 1.6 |  |  | — |  |  | — |  |  | 1.4 |  |  | 1.4 |  |  | — |  |  | — |
Foreign currency forward contracts (1) | 2.6 |  |  | — |  |  | 2.6 |  |  | — |  |  | 2.2 |  |  | — |  |  | 2.2 |  |  | — |
Total assets (2) | $ | 413.5 |  |  | $ | 410.5 |  |  | $ | 3.0 |  |  | $ | — |  |  | $ | 338.7 |  |  | $ | 336.0 |  |  | $ | 2.7 |  |  | $ | — |
Liability: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts (3) | $ | 1.4 |  |  | $ | — |  |  | $ | 1.4 |  |  | $ | — |  |  | $ | 1.5 |  |  | $ | — |  |  | $ | 1.5 |  |  | $ | — |
Contingent consideration (4) | 4.0 |  |  | — |  |  | — |  |  | 4.0 |  |  | 9.9 |  |  | — |  |  | — |  |  | 9.9 |
Total liabilities | $ | 5.4 |  |  | $ | — |  |  | $ | 1.4 |  |  | $ | 4.0 |  |  | $ | 11.4 |  |  | $ | — |  |  | $ | 1.5 |  |  | $ | 9.9 |
(1)$2.6 million and $2.2 million in prepayments and other current assets on the Company’s Consolidated Balance Sheets as of July 3, 2021 and June 27, 2020, respectively. (2)Includes as of July 3, 2021, $401.0 million in cash and cash equivalents, $1.6 million in short-term investments, $2.7 million in restricted cash, $2.6 million in prepayments and other current assets, and $5.6 million in other non-current assets on the Company’s Consolidated Balance Sheets. Includes as of June 27, 2020, $327.2 million in cash and cash equivalents, $1.4 million in short-term investments, $3.4 million in restricted cash, $2.2 million in prepayments and other current assets and $4.5 million in other non-current assets on the Company’s Consolidated Balance Sheets. (3)Includes $1.4 million and $1.5 million in other current liabilities on the Company’s Consolidated Balance Sheets as of July 3, 2021 and June 27, 2020, respectively. (4)Includes $0.0 million and $9.4 million in other non-current liabilities and $4.0 million and $0.5 million in other current liabilities as of July 3, 2021 and June 27, 2020, respectively.

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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
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