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Leases
12 Months Ended
Jul. 01, 2023
Leases [Abstract]  
Leases
Note 12. Leases
The Company is a lessee in several operating leases, primarily real estate facilities for office space. The Company's lease arrangements are composed of operating leases with various expiration dates through March 31, 2042. The Company's leases do not contain any material residual value guarantees.
Lease expense, cash flow and balance sheet information related to our operating leases is as follows (in millions):
July 1, 2023July 2, 2022
Operating lease costs (1)
$13.1 $14.0 
Cash paid for amounts included in the measurement of operating lease liabilities14.4 15.5 
Operating ROU assets obtained in exchange for operating lease obligations7.0 14.7 
Operating ROU assets (Other non-current assets)40.4 45.2 
Other current liabilities10.1 10.1 
Other non-current liabilities29.4 33.5 
Total operating lease liabilities$39.5 $43.6 
Weighted-average remaining lease term6.8 years7.2 years
Weighted-average discount rate4.8 %4.4 %
(1) Total variable lease costs were immaterial during the fiscal years ended July 1, 2023 and July 2, 2022. The total operating costs were included in cost of revenues, R&D and SG&A in the Consolidated Statements of Operations.
Future minimum operating lease payments as of July 1, 2023 are as follows (in millions):
Operating Leases
Fiscal 2024$10.3 
Fiscal 20259.4 
Fiscal 20267.2 
Fiscal 20275.6 
Fiscal 20284.0 
Thereafter9.7 
Total lease payments46.2 
Less: Interest(6.7)
Present value of lease liabilities$39.5 
Future minimum operating lease payments as of July 2, 2022, were as follows (in millions):
Operating Leases
Fiscal 2023$10.2 
Fiscal 20249.8 
Fiscal 20257.8 
Fiscal 20266.0 
Fiscal 20274.6 
Thereafter12.8 
Total lease payments51.2 
Less: Interest(7.6)
Present value of lease liabilities$43.6