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Accounting Policies (Tables)

3 Months Ended

Oct. 02, 2021

Accounting Policies [Abstract]

Accounting Standards Update and Change in Accounting Principle

The following table presents the impact of the standard adoption to select line items of the Company’s Consolidated Balance Sheet as of June 27, 2020 and July 3, 2021 (in millions):

			June 27, 2020
			As Reported						Adjustment						As Adjusted
LIABILITIES AND STOCKHOLDERS’ EQUITY
Long-term debt			$	600.9					$	78.2					$	679.1
Additional paid-in capital			70,274.3						(128.2)						70,146.1
Accumulated deficit			$	(69,397.2)					$	50.0					$	(69,347.2)
			July 3, 2021
			As Reported						Adjustment						As Adjusted
LIABILITIES AND STOCKHOLDERS’ EQUITY
Short-term debt			$	414.2					$	42.4					$	456.6
Long-term debt			209.8						14.3						224.1
Mezzanine equity - convertible notes			45.8						(45.8)						—
Additional paid-in capital			70,265.5						(82.3)						70,183.2
Accumulated deficit			$	(69,393.7)					$	71.4					$	(69,322.3)

The following table presents the impact of the standard adoption to select line items of the Company’s Consolidated Statement of Operations for the three months ended October 3, 2020 (in millions, except per-share data):

			Three Months Ended October 3, 2020
			As Reported						Adjustment						As Adjusted
Interest Expense			$	(9.0)					$	5.4					$	(3.6)
Net income			$	14.3					$	5.4					$	19.7
Net income per share:
Basic			$	0.06					$	0.03					$	0.09
Diluted			$	0.06					$	0.02					$	0.08
Shares used in per-share calculation:
Basic			228.8						0.00						228.8
Diluted			231.8						0.00						231.8

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- References

No definition available.

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X

- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22499-107794

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=124437754&loc=d3e765-108305

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=124437754&loc=d3e725-108305

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22583-107794

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