Accumulated Other Comprehensive Loss

12 Months Ended

Jul. 03, 2021

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Note 4. Accumulated Other Comprehensive Loss

The Company’s accumulated other comprehensive loss consists of the accumulated net unrealized gains and losses on available-for-sale investments, foreign currency translation adjustments and change in unrealized components of defined benefit obligations.

Changes in accumulated other comprehensive loss by component, net of tax, were as follows (in millions):


	Unrealized gains on available-for-sale investments		Foreign currency translation adjustments		Change in unrealized components of defined benefit obligations, net of tax (1)		Total
Beginning balance as of June 27, 2020	$	(5.1)	$	(129.6)	$	(31.2)	$	(165.9)

Other comprehensive income before reclassification	—		61.5		4.1		65.6
Amounts reclassified from accumulated other comprehensive income	—		—		3.1		3.1
Net current period other comprehensive income	—		61.5		7.2		68.7
Ending balance as of July 03, 2021	$	(5.1)	$	(68.1)	$	(24.0)	$	(97.2)

(1)Activity before reclassifications to the Consolidated Statements of Operations during the fiscal year ended July 3, 2021 relates to the unrealized actuarial gain of $6.3 million, net of income tax effect of $2.2 million. The amount reclassified out of accumulated other comprehensive loss represents the amortization of actuarial losses included as a component of SG&A in the Consolidated Statement of Operations for the year ended July 3, 2021. Refer to “Note 17. Employee Pension and Other Benefit Plans” for more details on the computation of net periodic cost for pension plans.