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v3.22.2.2

Balance Sheet and Other Details (Tables) | 12 Months Ended
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Jul. 02, 2022
Balance Sheet and Other Details |
Summary of Activity Related to Deferred Revenue and Financed Unearned Services Revenue | The following table summarizes the activity related to deferred revenue, for the year ended July 2, 2022 (in millions):
| July 2, 2022
Deferred revenue: |
Balance at beginning of period | $ | 89.5 |
Revenue deferrals for new contracts(1) | 130.6 |
Revenue recognized during the period(2) | (119.7) |
Balance at end of period(3) | $ | 100.4 |
Short-term deferred revenue | $ | 81.0 |
Long-term deferred revenue | $ | 19.4 |
(1) Included in these amounts is the impact from foreign currency exchange rate fluctuations. (2) Revenue recognized during the period represents releases from the balance at the beginning of the period as well as releases from the following period quarter-end deferrals. (3) The long-term portion of deferred revenue is included as a component of other non-current liabilities on the Consolidated Balance Sheets.
Activities and Balances for Allowance for Doubtful Accounts | The table below presents the activities and balances for allowance for doubtful accounts, as follows (in millions):
| Balance at Beginning of Period |  |  |  | Charged to Costs and Expenses |  | Deduction(1) |  | Balance at End of Period
Year Ended July 2, 2022 | $ | 2.0 |  |  |  |  | $ | 0.9 |  |  | $ | (1.5) |  |  | $ | 1.4 |
Year Ended July 3, 2021 | 3.0 |  |  |  |  | 1.1 |  |  | (2.1) |  |  | 2.0 |
Year Ended June 27, 2020 | 2.0 |  |  |  |  | 2.0 |  |  | (1.0) |  |  | 3.0 |
(1) Represents the effect of currency translation adjustments and write-offs of uncollectible accounts, net of recoveries.
Schedule of Components of Inventories | The following table presents the components of inventories, net, as follo ws (in millions):
| July 2, 2022 |  | July 3, 2021
Finished goods | $ | 41.6 |  |  | $ | 41.0 |
Work in process | 17.7 |  |  | 16.6 |
Raw materials | 50.8 |  |  | 37.3 |
Inventories, net | $ | 110.1 |  |  | $ | 94.9 |
Schedule of Components of Prepayments and Other Current Assets | The following table presents the components of prepayments and other current assets, as follo ws (in millions):
| July 2, 2022 |  | July 3, 2021
Prepayments | $ | 16.0 |  |  | $ | 13.4 |
Assets held for sale | 2.5 |  |  | 6.5 |
Advances to contract manufacturers | 11.8 |  |  | 10.1 |
Refundable income taxes | 14.5 |  |  | 5.9 |
Transaction tax receivables | 10.4 |  |  | 13.2 |
Other current assets | 14.0 |  |  | 7.9 |
Prepayments and other current assets | $ | 69.2 |  |  | $ | 57.0 |
Schedule of Components of Property, Plant and Equipment | The following table presents the components of property, plant and equipment, net, as follows (in millions):
| July 2, 2022 |  | July 3, 2021
Land | $ | 19.2 |  |  | $ | 19.9 |
Buildings and improvements | 41.7 |  |  | 34.8 |
Machinery and equipment | 316.7 |  |  | 325.3 |
Furniture, fixtures, software and office equipment | 74.0 |  |  | 74.3 |
Leasehold improvements | 69.8 |  |  | 69.5 |
Construction in progress | 71.2 |  |  | 30.1 |
Property, plant and equipment, gross | 592.6 |  |  | 553.9 |
Less: Accumulated depreciation and amortization | (363.7) |  |  | (357.9) |
Property, plant and equipment, net | $ | 228.9 |  |  | $ | 196.0 |
Schedule of Components of Other Current Liabilities | The following table presents the components of other current liabilities, as follows (in millions):
| July 2, 2022 |  | July 3, 2021
Customer prepayments | $ | 0.9 |  |  | $ | 0.4 |
Restructuring accrual | — |  |  | 0.5
Income tax payable | 9.6 |  |  | 22.6 |
Warranty accrual | 4.4 |  |  | 4.3 |
Transaction tax payable | 11.5 |  |  | 4.9 |
Operating lease liabilities (Note 12) | 10.1 |  |  | 11.6 |
Fair value of contingent consideration | 1.8 |  |  | 4.0 |
Interest payable | 4.6 |  |  | 1.9 |
Fair value of forward contracts | 8.4 |  |  | 1.4 |
Other | 5.0 |  |  | 5.5 |
Other current liabilities | $ | 56.3 |  |  | $ | 57.1 |
Schedule of Components of Other Non-current Liabilities | The following table presents the components of other non-current liabilities, as follo ws (in millions):
| July 2, 2022 |  | July 3, 2021
Pension and post-employment benefits | $ | 59.6 |  |  | $ | 97.0 |
Deferred tax liability | 9.5 |  |  | 24.3 |
Financing obligation | 16.0 |  |  | 16.1 |
Long-term deferred revenue | 19.4 |  |  | 19.8 |
Operating lease liabilities (Note 12) | 33.5 |  |  | 30.8 |
Uncertain tax position | 12.9 |  |  | 18.3 |
Warranty accrual | 6.2 |  |  | 5.4 |
Other | 13.3 |  |  | 14.3 |
Other non-current liabilities | $ | 170.4 |  |  | $ | 226.0 |
Schedule of Components of Interest and Other Income (Expense), Net | The following table presents the components of interest and other income, net, as follows (in millions):
| Years Ended
| July 2, 2022 |  | July 3, 2021 |  | June 27, 2020
Interest income | $ | 3.4 |  |  | $ | 2.9 |  |  | $ | 7.1 |
Foreign exchange gain, net | 1.4 |  |  | — |  |  | 2.1 |
Other income, net | 0.4 |  |  | 0.4 |  |  | 0.5 |
Loss on sale of investments | — |  |  | — |  |  | (0.1) |
Interest and other income, net | $ | 5.2 |  |  | $ | 3.3 |  |  | $ | 9.6 |

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