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Employee Pension and Other Benefit Plans (Tables)

12 Months Ended

Jun. 29, 2024

Retirement Benefits [Abstract]

Schedule of Net Periodic Cost

The following table presents the components of the net periodic benefit cost for the pension and benefits plans (in millions):

			Years Ended
			June 29, 2024						July 1, 2023						July 2, 2022
Service cost			$	—					$	—					$	0.2
Interest cost			3.3						2.7						1.6
Expected return on plan assets			(1.9)						(1.7)						(1.7)
Recognized net actuarial losses (gains)			0.1						(0.1)						2.9
Net periodic benefit cost			$	1.5					$	0.9					$	3.0

Schedule of Changes in Benefit Obligations and Plan Assets

The changes in the benefit obligations and plan assets of the pension and benefits plans were (in millions):

			Pension Benefit Plans
			June 29, 2024						July 1, 2023
Change in benefit obligation
Benefit obligation at beginning of year			$	86.1					$	95.5
Interest cost			3.3						2.7
Actuarial losses (gains)			1.5						(4.2)
Benefits paid			(6.1)						(5.6)
Foreign exchange impact			(1.1)						(2.3)
Benefit obligation at end of year			$	83.7					$	86.1
Change in plan assets
Fair value of plan assets at beginning of year			$	31.1					$	29.3
Actual return on plan assets			0.7						0.2
Employer contributions			6.5						5.6
Benefits paid			(6.1)						(5.6)
Foreign exchange impact			(0.2)						1.6
Fair value of plan assets at end of year			32.0						31.1
Funded status			(51.7)						(55.0)
Accumulated benefit obligation			$	83.7					$	86.1

Schedule of Defined Benefit Plan Amounts Recognized by Financial Statement Location

			Pension Benefit Plans
			June 29, 2024						July 1, 2023
Amount recognized on the Consolidated Balance Sheets at end of year:
Non-current assets			$	6.6					$	5.6
Current liabilities			7.5						7.8
Non-current liabilities			50.8						52.8
Other changes in plan assets and benefit obligations recognized in other comprehensive (loss) income:
Net actuarial (loss) gain			$	(2.1)					$	2.0
Amortization of accumulated net actuarial losses (gains)			0.1						(0.1)
Total recognized in other comprehensive (loss) income			$	(2.0)					$	1.9

Schedule of Net Periodic Cost and Benefit Obligation Assumptions Used

The following table summarizes the weighted average assumptions used to determine net periodic cost and benefit obligation for the Company’s U.K. and German pension plans:

			Pension Benefit Plans
			June 29, 2024						July 1, 2023						July 2, 2022
Used to determine net periodic cost at end of year:
Discount rate			4.1		%				4.1		%				3.2		%
Expected long-term return on plan assets			5.9		%				5.9		%				6.2		%
Rate of pension increase			2.5		%				2.5		%				2.2		%
Used to determine benefit obligation at end of year:
Discount rate			4.1		%				4.1		%				3.2		%
Rate of pension increase			2.5		%				2.5		%				2.2		%

Schedule of Percentage of Asset Allocations and Plan Assets at Fair Value

The following table sets forth the plan assets at fair value and the percentage of assets allocations as of June 29, 2024 (in millions):

																					Fair value as of
																					June 29, 2024
			Target Allocation						Total						Percentage of Plan Assets						Level 1						Level 2
Assets:
Equity / Other			40		%				$	12.1					37.8		%				$	—					$	12.1
Fixed income			60		%				17.0						53.1		%				—						17.0
Cash			—		%				2.9						9.1		%				2.9						—
Total assets									$	32.0					100.0		%				$	2.9					$	29.1

The following table sets forth the plan’s assets at fair value and the percentage of assets allocations as of July 1, 2023 (in millions):

																					Fair value as of
																					July 1, 2023
			Target Allocation						Total						Percentage of Plan Assets						Level 1						Level 2
Assets:
Equity / Other			60		%				$	18.4					59.2		%				$	—					$	18.4
Fixed income			40		%				10.0						32.1		%				—						10.0
Cash			—		%				2.7						8.7		%				2.7						—
Total assets									$	31.1					100.0		%				$	2.7					$	28.4

Schedule of Total Expected Benefit Payments

The following table reflects the expected benefit payments to defined benefit pension plan participants. These payments have been estimated based on the same assumptions used to measure the Company’s PBO at fiscal year end and include benefits attributable to estimated future compensation increases (in millions):

Fiscal Years
2025			$	8.5
2026			6.0
2027			5.9
2028			5.2
2029			5.0
2030-2034			23.1

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Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans.

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