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Stock-Based Compensation | 6 Months Ended
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Jan. 01, 2022
Share-based Payment Arrangement [Abstract] |
Stock-Based Compensation | Note 16. Stock-Based Compensation The Company's stock-based compensation includes a combination of time-based restricted stock awards and performance-based awards. Restricted stock awards are granted without an exercise price and are converted to shares immediately upon vesting. When converted into shares upon vesting, shares equivalent in value to the minimum withholding taxes liability on the vested shares are withheld by the Company for the payment of such taxes. The Company generally estimates the fair value of stock-based awards based on the closing market price of the Company’s common stock. In the case of performance-based awards that include a market condition, the Company will estimate the fair value of the award using a combination of the closing market price of the Company’s common stock on the grant date and the Monte Carlo simulation model. For performance-based awards, shares attained over target upon vesting are reflected as awards granted during the period. Time-based restricted stock awards will generally vest in annual or quarterly installments over a period of three to four years subject to the employees’ continuing service to the Company. The Company's performance-based awards may include performance conditions, market conditions, time-based service conditions or a combination thereof and are generally expected to vest over one to four years. In addition, the actual number of shares awarded upon vesting of performance-based grants may vary from the target shares depending upon the achievement of the relevant performance or market-based conditions. During the six months ended January 1, 2022 and January 2, 2021, the Company granted $2.1 million and $2.7 million time-based restricted stock awards, respectively. The aggregate grant-date fair value of time-based restricted stock awards granted during the six months ended January 1, 2022 and January 2, 2021 were estimated to be $35.0 million and $35.7 million, respectively. Time-based restricted stock awards granted to eligible employees generally vest in annual or quarterly installments over a period of four years, are subject to the employees’ continuing service to the Company and do not have an expiration date. During the six months ended January 1, 2022 and January 2, 2021, the Company granted $0.4 million and $0.6 million, performance-based awards, respectively. In addition, during the six months ended January 2, 2021, the Company granted an additional 0.1 million shares due to performance-based shares attained over target. There were no performance-based shares attained over target during the six months ended January 1, 2022. The aggregate grant-date fair value of performance-based awards granted during the six months ended January 1, 2022 and January 2, 2021 were estimated to be $7.9 million and $8.9 million, respectively. The majority of performance-based awards vest in equal annual installments over four years based on the attainment of certain performance measures and the employee’s continued service through the vest date. Performance-based awards with market conditions were valued using a Monte Carlo simulation. As of January 1, 2022, $79.4 million of unrecognized stock-based compensation costs remain to be amortized. The impact on the Company’s results of operations of recording stock-based compensation by function for the three and six months ended January 1, 2022 and January 2, 2021, is as follows (in millions):
| Three Months Ended |  | Six Months Ended
| January 1, 2022 |  | January 2, 2021 |  | January 1, 2022 |  | January 2, 2021
Cost of revenues | $ | 1.2 |  |  | $ | 1.2 |  |  | $ | 2.8 |  |  | $ | 2.4 |
Research and development | 2.1 |  |  | 2.3 |  |  | 4.3 |  |  | 4.5 |
Selling, general and administrative | 10.0 |  |  | 6.4 |  |  | 19.8 |  |  | 15.5 |
Total stock-based compensation expense | $ | 13.3 |  |  | $ | 9.9 |  |  | $ | 26.9 |  |  | $ | 22.4 |
Approximately $1.2 million and $1.1 million of stock-based compensation was capitalized to inventory as of January 1, 2022 and January 2, 2021, respectively.

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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