XML 53 R36.htm IDEA: XBRL DOCUMENT v3.24.2.u1

Acquisitions (Tables)

12 Months Ended

Jun. 29, 2024

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Schedule of Changes in Earn-out Liabilities

The following table provides a reconciliation of changes in fair value of the Company’s earn-out liabilities for the years ended June 29, 2024 and July 1, 2023, as follows (in millions):

															Total
Balance July 2, 2022															$	2.5
Additions to Contingent Consideration															29.4
Change in Fair Value measurement															(4.6)
Payments of Contingent Consideration															(7.6)
Balance July 1, 2023(1)															$	19.7
Change in Fair Value measurement															(9.5)
Payments of Contingent Consideration															(0.7)
Balance June 29, 2024(2)															$	9.5

(1) Includes $1.1 million in Other current liabilities and $18.6 million in Other non-current liabilities on the Consolidated Balance Sheets.

(2) Included in Other non-current liabilities on the Consolidated Balance Sheets.

The Company’s assets and liabilities measured at fair value for the periods presented are as follows (in millions):

			June 29, 2024																								July 1, 2023
			Total						Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3
Assets:
Debt available-for-sale securities:
Asset-backed securities(1)			$	0.3					$	—					$	0.3					$	—					$	0.3					$	—					$	0.3					$	—
Total debt available-for-sale securities			0.3						—						0.3						—						0.3						—						0.3						—
Money market funds(2)			295.3						295.3						—						—						344.8						344.8						—						—
Trading securities(3)			1.5						1.5						—						—						1.5						1.5						—						—
Foreign currency forward contracts(4)			1.7						—						1.7						—						3.5						—						3.5						—
Total assets			$	298.8					$	296.8					$	2.0					$	—					$	350.1					$	346.3					$	3.8					$	—
Liability:
Foreign currency forward contracts(5)			$	1.5					$	—					$	1.5					$	—					$	2.4					$	—					$	2.4					$	—
Contingent consideration(6)			9.5						—						—						9.5						19.7						—						—						19.7
Total liabilities			$	11.0					$	—					$	1.5					$	9.5					$	22.1					$	—					$	2.4					$	19.7

(1) Included in Other non-current assets on the Consolidated Balance Sheets.

(2) Includes, as of June 29, 2024, $286.7 million in Cash and cash equivalents, $4.9 million in Restricted cash and $3.7 million in Other non-current assets on the Consolidated Balance Sheets. Includes, as of July 1, 2023, $336.5 million in Cash and cash equivalents, $4.3 million in Restricted cash, and $4.0 million in Other non-current assets on the Consolidated Balance Sheets.

(3) Included in Short-term investments on the Consolidated Balance Sheets.

(4) Included in Prepayments and other current assets on the Consolidated Balance Sheets.

(5) Included in Other current liabilities on the Consolidated Balance Sheets.

(6) As of June 29, 2024, included in Other non-current liabilities on the Consolidated Balance Sheets. As of July 1, 2023, includes certain amounts in Other current liabilities and Other non-current liabilities on the Consolidated Balance Sheets.

X

- References

No definition available.

+ Details

Name:	us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration