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Balance Sheet and Other Details (Tables)
 12 Months Ended
Jun. 29, 2024
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 June 29, 2024 (in millions):
June 29, 2024
Deferred revenue:
Balance at beginning of period$102.0 
Revenue deferrals for new contracts(1)
102.4 
Revenue recognized during the period(2)
(113.0)
Balance at end of period(3)
$91.4 
Short-term deferred revenue$65.7 
Long-term deferred revenue$25.7 
(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 credit losses, as follows (in millions):
Balance at Beginning of PeriodCharged to Costs and Expenses
Deduction(1)
Balance at
End of Period
Year Ended June 29, 2024$1.0 $1.3 $(0.7)$1.6 
Year Ended July 1, 2023$1.4 $0.4 $(0.8)$1.0 
Year Ended July 2, 2022$2.0 $0.9 $(1.5)$1.4 
(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 follows (in millions):
June 29, 2024July 1, 2023
Finished goods$44.6 $49.0 
Work in process15.4 17.7 
Raw materials36.5 49.4 
Inventories, net$96.5 $116.1 
Schedule of Components of Prepayments and Other Current Assets
The following table presents the components of prepayments and other current assets, as follows (in millions):
June 29, 2024July 1, 2023
Refundable income taxes$28.5 $27.6 
Prepayments18.5 16.5 
Advances to contract manufacturers5.7 9.8 
Transaction tax receivables3.3 5.1 
Assets held for sale2.5 2.5 
Fair value of forward contracts1.7 3.5 
Other current assets10.5 7.1 
Prepayments and other current assets$70.7 $72.1 
Schedule of Components of Property, Plant and Equipment
The following table presents the components of property, plant and equipment, net, as follows (in millions):
June 29, 2024July 1, 2023
Land$19.5 $19.6 
Buildings and improvements74.9 74.9 
Machinery and equipment378.6 362.6 
Furniture, fixtures, software and office equipment70.7 76.7 
Leasehold improvements73.0 70.7 
Construction in progress20.0 24.5 
Property, plant and equipment, gross636.7 629.0 
Less: Accumulated depreciation and amortization
(408.5)(386.0)
Property, plant and equipment, net$228.2 $243.0 
Schedule of Components of Other Current Assets
The following table presents the components of other non-current assets, as follows (in millions):
June 29, 2024July 1, 2023
Operating ROU assets $35.8 $40.4 
Long-term restricted cash5.5 4.6 
Deferred contract cost2.5 2.9 
Deposits2.4 2.3 
Debt issuance cost - Revolving Credit Facility1.9 2.8 
Other non-current assets9.9 8.7 
Other non-current assets$58.0 $61.7 
Schedule of Components of Other Current Liabilities
The following table presents the components of other current liabilities, as follows (in millions):
June 29, 2024July 1, 2023
Restructuring accrual (Note 13)
$14.1 $5.8 
Operating lease liabilities
9.8 10.1 
Income tax payable5.3 4.4 
Interest payable5.1 5.5 
Transaction tax payable4.0 4.3 
Warranty accrual3.4 4.2 
Fair value of forward contracts1.5 2.4 
Acquisition related holdback and related accruals— 4.1 
Fair value of contingent consideration (Note 5)
— 1.1 
Other14.3 7.9 
Other current liabilities$57.5 $49.8 
Schedule of Components of Other Non-current Liabilities
The following table presents the components of other non-current liabilities, as follows (in millions):
June 29, 2024July 1, 2023
Pension and post-employment benefits$51.2 $53.2 
Operating lease liabilities25.7 29.4 
Long-term deferred revenue25.7 23.4 
Uncertain tax position17.0 15.8 
Financing obligation15.7 15.8 
Deferred tax liability11.7 13.9 
Fair value of contingent consideration (Note 5)
9.5 18.6 
Warranty accrual4.0 4.8 
Asset retirement obligations3.0 3.8 
Restructuring accrual (Note 13)
0.8 — 
Other7.3 8.0 
Other non-current liabilities$171.6 $186.7 
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
June 29, 2024July 1, 2023July 2, 2022
Interest income$18.9 $10.2 $3.4 
Foreign exchange (loss) gain, net(3.1)(2.2)1.4 
Gain on litigation settlement7.3 — — 
Other (loss) income, net(1.4)(0.4)0.4 
Interest and other income, net$21.7 $7.6 $5.2