Gross receivables include both billed and unbilled receivables (including Contract assets). As of December 31, 2022, and July 2, 2022, the Company had total unbilled receivables of $8.0 million and $7.3 million, respectively.

The Company also has short-term and long-term deferred revenues related to undelivered product and professional services, consisting of installations and consulting engagements, which are recognized as the Company's performance obligations under the contract are completed and accepted by the customer.

The following tables summarize the activity related to deferred revenue (in millions):


	December 31, 2022
	Three Months Ended		Six Months Ended
Deferred revenue:
Balance at beginning of period	$	91.5	$	100.4
Revenue deferrals for new contracts (1)	36.5		63.1
Revenue recognized during the period (2)	(33.4)		(68.9)
Balance at end of period	$	94.6	$	94.6

(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 current period deferrals.

Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations, changes in the scope of contracts, adjustments for revenue that have not materialized, and adjustments for currency.

The value of the transaction price allocated to remaining performance obligations as of December 31, 2022, was $254.2 million. The Company expects to recognize approximately 91% of remaining performance obligations as revenue within the next 12 months, and the remainder thereafter.

The following table presents the activities and balances for allowance for credit losses (in millions):


	July 2, 2022		Charged to Costs and Expenses		Deductions (1)		December 31, 2022
Allowance for credit losses	$	1.4	$	0.3	$	(0.2)	$	1.5

(1) Represents the effect of currency translation adjustments and write-offs of uncollectible accounts, net of recoveries.


	December 31, 2022		July 2, 2022
Finished goods	$	48.6	$	41.6
Work in process	18.0		17.7
Raw materials	53.7		50.8
Inventories, net	$	120.3	$	110.1

The following table presents the components of prepayments and other current assets (in millions):


	December 31, 2022		July 2, 2022
Refundable income taxes	$	25.6	$	14.5
Prepayments	13.3		16.0
Advances to contract manufacturers	12.2		11.8
Transaction tax receivables	10.9		10.4
Asset held for sale	2.5		2.5
Other current assets	13.7		14.0
Prepayments and other current assets	$	78.2	$	69.2

The following table presents the components of other current liabilities (in millions):


	December 31, 2022		July 2, 2022



Income tax payable	$	10.4	$	9.6
Operating lease liabilities (Note 12)	9.8		10.1
Fair value of contingent consideration	7.7		1.8
Interest payable	4.8		4.6
Warranty accrual	4.1		4.4
Transaction tax payable	3.3		11.5

Fair value of forward contracts	2.4		8.4
Other	9.6		5.9
Other current liabilities	$	52.1	$	56.3

The following table presents components of other non-current liabilities (in millions):


	December 31, 2022		July 2, 2022
Pension and post-employment benefits	$	55.1	$	59.6
Operating lease liabilities (Note 12)	29.1		33.5
Fair value of contingent consideration	25.5		0.7
Long-term deferred revenue	20.0		19.4
Financing obligation	15.9		16.0
Deferred tax liability	14.4		9.5
Uncertain tax position	13.8		12.9
Warranty accrual	5.3		6.2
Other	15.2		12.6
Other non-current liabilities	$	194.3	$	170.4