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Leases | 9 Months Ended
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Apr. 03, 2021
Leases [Abstract] |
Leases | Note 12. Leases The Company is a lessee in several operating leases, primarily real estate facilities for office space. The Company determines if an arrangement is a lease or contains a lease at inception. Operating lease liabilities are recognized based on the present value of the remaining lease payments, discounted using the discount rate for the lease at the commencement date. As the rate implicit in the lease is not readily determinable for our operating leases, the Company uses an incremental borrowing rate based on information available at the commencement date to determine the present value of future lease payments. The lease term is the non-cancelable period of the lease and includes options to extend or terminate the lease when it is reasonably certain that an option will be exercised. Operating right-of-use (ROU) assets are recognized at commencement based on the amount of the initial measurement of the lease liability. Operating ROU assets also include any lease payments made prior to lease commencement and exclude lease incentives. Lease expense is recognized on a straight-line basis over the lease term. Operating ROU assets are included in other non-current assets and lease liabilities are included in other current liabilities and other non-current liabilities in the Company’s Consolidated Balance Sheets. Lease and non-lease components for all leases are accounted for separately. The Company does not recognize ROU assets and lease liabilities for leases with a lease term of twelve months or less. The Company's lease arrangements are composed of operating leases with various expiration dates through March 31, 2030. The Company's leases do not contain any material residual value guarantees. For the three months ended April 3, 2021 and March 28, 2020, the total operating lease costs were $3.6 million and $3.6 million, respectively. For the nine months ended April 3, 2021 and March 28, 2020, the total operating lease costs were $10.4 million and $10.2 million, respectively. Total variable lease costs were immaterial during the three and nine months ended April 3, 2021 and March 28, 2020. The total operating costs were included in cost of revenues, research and development, and selling, general and administrative in the Company’s Consolidated Statements of Operations. As of April 3, 2021, the weighted-average remaining lease term was 4.8 years, and the weighted-average discount rate was 4.6%. For the three months ended April 3, 2021 and March 28, 2020, cash paid for amounts included in the measurement of operating lease liabilities were $3.3 million and $3.7 million, respectively; and operating ROU assets obtained in exchange of new operating lease liabilities were $2.8 million and $0.6 million, respectively. For the nine months ended April 3, 2021 and March 28, 2020, cash paid for amounts included in the measurement of operating lease liabilities were $11.4 million and $12.9 million, respectively; and operating ROU assets obtained in exchange of new operating lease liabilities were $6.3 million and $15.1 million, respectively. The balance sheet information related to our operating leases is as follows (in millions):
| April 3, 2021
| Other Non-Current Assets |  | Other Current Liabilities |  | Other Non-Current Liabilities |  | Total
ROU Assets | $ | 39.1 |  |  | $ | — |  |  | $ | — |  |  | $ | 39.1 |
Operating Lease Liabilities | $ | — |  |  | $ | 12.0 |  |  | $ | 24.8 |  |  | $ | 36.8 |
Future minimum operating lease payments as of April 3, 2021 are as follows (in millions):
Fiscal Years |  |  | Operating Leases
Remainder of 2021 |  |  | $ | 2.2 |
2022 |  |  | 12.3 |
2023 |  |  | 8.3 |
2024 |  |  | 5.8 |
2025 |  |  | 4.2 |
Thereafter |  |  | 7.9 |
Total lease payments |  |  | $ | 40.7 |
Less: Interest |  |  | (3.9) |
Present value of lease liabilities |  |  | $ | 36.8 |
Future minimum operating lease payments as of June 27, 2020, were as follows (in millions):
Fiscal Years |  |  | Operating Leases
2021 |  |  | $ | 12.8 |
2022 |  |  | 10.2 |
2023 |  |  | 6.0 |
2024 |  |  | 4.6 |
2025 |  |  | 3.6 |
Thereafter |  |  | 7.5 |
Total lease payments |  |  | $ | 44.7 |
Less: Interest |  |  | (4.9) |
Present value of lease liabilities |  |  | $ | 39.8 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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