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Operating Segments and Geographic Information (Tables)

3 Months Ended

Oct. 02, 2021

Segment Reporting [Abstract]

Schedule of Information on Reportable Segments

The following tables present information on the Company’s reportable segments for the three months ended October 2, 2021 and October 3, 2020 (in millions):

			Three Months Ended October 2, 2021
			Network and Service Enablement
			Network Enablement						Service Enablement						Network and Service Enablement						Optical Security and Performance Products												Other Items						Consolidated GAAP Measures
Product revenue			$	179.6					$	10.9					$	190.5					$	98.6											$	—					$	289.1
Service revenue			25.3						12.1						37.4						0.3												—						37.7
Net revenue			$	204.9					$	23.0					$	227.9					$	98.9											$	—					$	326.8
Gross profit			$	132.7					$	14.7					$	147.4					$	57.1											$	(9.5)					$	195.0
Gross margin			64.8		%				63.9		%				64.7		%				57.7		%																59.7		%
Operating income															$	30.7					$	43.6											$	(27.4)					$	46.9
Operating margin															13.5		%				44.1		%																14.4		%

			Three Months Ended October 3, 2020
			Network and Service Enablement
			Network Enablement						Service Enablement						Network and Service Enablement						Optical Security and Performance Products												Other Items						Consolidated GAAP Measures
Product revenue			$	139.2					$	7.7					$	146.9					$	101.0											$	—					$	247.9
Service revenue			22.9						13.7						36.6						0.2												—						36.8
Net revenue			$	162.1					$	21.4					$	183.5					$	101.2											$	—					$	284.7
Gross profit			$	103.5					$	14.3					$	117.8					$	61.0											$	(9.4)					$	169.4
Gross margin			63.8		%				66.8		%				64.2		%				60.3		%																59.5		%
Operating income															$	13.3					$	47.3											$	(29.3)					$	31.3
Operating margin															7.2		%				46.7		%																11.0		%

			Three Months Ended
			October 2, 2021						October 3, 2020
Corporate reconciling items impacting gross profit:
Total segment gross profit			$	204.5					$	178.8
Stock-based compensation			(1.6)						(1.2)
Amortization of intangibles			(7.9)						(8.2)
GAAP gross profit			$	195.0					$	169.4
Corporate reconciling items impacting operating income:
Total segment operating income			$	74.3					$	60.6
Stock-based compensation			(13.6)						(12.5)
Amortization of intangibles			(10.6)						(16.7)
Change in fair value of contingent liability			(0.3)						—
Other charges unrelated to core operating performance (1)			(2.9)						(0.7)
Restructuring and related benefits			—						0.6
GAAP operating income from continuing operations			$	46.9					$	31.3

(1)    During the three months ended October 2, 2021 and October 3, 2020, other charges unrelated to core operating performance primarily consisted of certain acquisition and integration related changes, transformational initiatives such as, site consolidations, and reorganization, and loss on disposal of long-lived assets.

Schedule of Revenue by Geographic Regions

The following table presents net revenue by the three geographic regions in which the Company operates and net revenue from countries that exceeded 10% of the Company’s total net revenue for the three months ended October 2, 2021 and October 3, 2020 (in millions):

			Three Months Ended
			October 2, 2021																		October 3, 2020
			Product Revenue						Service Revenue						Total						Product Revenue						Service Revenue						Total
Americas:
United States			$	79.9					$	13.4					$	93.3					$	63.7					$	14.1					$	77.8
Other Americas			25.0						3.2						28.2						14.3						3.3						17.6
Total Americas			$	104.9					$	16.6					$	121.5					$	78.0					$	17.4					$	95.4
Asia-Pacific:
Greater China			$	69.8					$	2.8					$	72.6					$	77.3					$	1.7					$	79.0
Other Asia-Pacific			49.5						4.2						53.7						25.4						3.8						29.2
Total Asia-Pacific			$	119.3					$	7.0					$	126.3					$	102.7					$	5.5					$	108.2
EMEA:
Switzerland			$	13.1					$	0.1					$	13.2					$	17.9					$	0.1					$	18.0
Other EMEA			51.8						14.0						65.8						49.3						13.8						63.1
Total EMEA			$	64.9					$	14.1					$	79.0					$	67.2					$	13.9					$	81.1
Total net revenue			$	289.1					$	37.7					$	326.8					$	247.9					$	36.8					$	284.7

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- Definition

Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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