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Fair Value Measurements (Tables) | 12 Months Ended
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Jun. 28, 2025
Fair Value Disclosures [Abstract] |
Schedule of Assets and Liabilities Measured at Fair Value | The Company’s assets and liabilities measured at fair value for the periods presented are as follows (in millions):
| June 28, 2025 |  | June 29, 2024
| 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) | 229.0 |  |  | 229.0 |  |  | — |  |  | — |  |  | 295.3 |  |  | 295.3 |  |  | — |  |  | — |
Trading securities(3) | 1.6 |  |  | 1.6 |  |  | — |  |  | — |  |  | 1.5 |  |  | 1.5 |  |  | — |  |  | — |
Foreign currency forward contracts(4) | 4.9 |  |  | — |  |  | 4.9 |  |  | — |  |  | 1.7 |  |  | — |  |  | 1.7 |  |  | — |
Non-marketable equity security(5) | 3.0 |  |  | — |  |  | — |  |  | 3.0 |  |  | — |  |  | — |  |  | — |  |  | — |
Total assets | $ | 238.8 |  |  | $ | 230.6 |  |  | $ | 5.2 |  |  | $ | 3.0 |  |  | $ | 298.8 |  |  | $ | 296.8 |  |  | $ | 2.0 |  |  | $ | — |
Liability: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts(6) | $ | 3.1 |  |  | $ | — |  |  | $ | 3.1 |  |  | $ | — |  |  | $ | 1.5 |  |  | $ | — |  |  | $ | 1.5 |  |  | $ | — |
Contingent consideration(7) | 117.4 |  |  | — |  |  | — |  |  | 117.4 |  |  | 9.5 |  |  | — |  |  | — |  |  | 9.5 |
Total liabilities | $ | 120.5 |  |  | $ | — |  |  | $ | 3.1 |  |  | $ | 117.4 |  |  | $ | 11.0 |  |  | $ | — |  |  | $ | 1.5 |  |  | $ | 9.5 |
(1) Included in Other non-current assets on the Consolidated Balance Sheets. (2) Includes, as of June 28, 2025, $222.4 million in Cash and cash equivalents, $3.5 million in Restricted cash and $3.1 million in Other non-current assets on the Consolidated Balance Sheets. 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. (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 non-current assets on the Consolidated Balance Sheets. (6) Included in Other current liabilities on the Consolidated Balance Sheets. (7) As of June 28, 2025, includes certain amounts in Other current liabilities and Other non-current liabilities on the Consolidated Balance Sheets. As of June 29, 2024, included in Other non-current liabilities on the Consolidated Balance Sheets.
Schedule of Changes in Fair Value of Level 3 Liabilities | The following table provides a reconciliation of changes in fair value of the Company’s earn-out liabilities for the years ended June 28, 2025 and June 29, 2024, as follows (in millions):
|  |  |  |  | Total
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 |
Additions to Contingent Consideration |  |  |  |  | 116.2 |
Change in Fair Value measurement |  |  |  |  | (8.3) |
Balance June 28, 2025(3)(4) |  |  |  |  | $ | 117.4 |
(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. (3) Includes $41.5 million in Other current liabilities and $75.9 million in Other non-current liabilities on the Consolidated Balance Sheets. (4) Balance is comprised of $117.1 million for Inertial Labs and $0.3 million for Jackson Labs. The Company’s assets and liabilities measured at fair value for the periods presented are as follows (in millions):
| June 28, 2025 |  | June 29, 2024
| 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) | 229.0 |  |  | 229.0 |  |  | — |  |  | — |  |  | 295.3 |  |  | 295.3 |  |  | — |  |  | — |
Trading securities(3) | 1.6 |  |  | 1.6 |  |  | — |  |  | — |  |  | 1.5 |  |  | 1.5 |  |  | — |  |  | — |
Foreign currency forward contracts(4) | 4.9 |  |  | — |  |  | 4.9 |  |  | — |  |  | 1.7 |  |  | — |  |  | 1.7 |  |  | — |
Non-marketable equity security(5) | 3.0 |  |  | — |  |  | — |  |  | 3.0 |  |  | — |  |  | — |  |  | — |  |  | — |
Total assets | $ | 238.8 |  |  | $ | 230.6 |  |  | $ | 5.2 |  |  | $ | 3.0 |  |  | $ | 298.8 |  |  | $ | 296.8 |  |  | $ | 2.0 |  |  | $ | — |
Liability: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts(6) | $ | 3.1 |  |  | $ | — |  |  | $ | 3.1 |  |  | $ | — |  |  | $ | 1.5 |  |  | $ | — |  |  | $ | 1.5 |  |  | $ | — |
Contingent consideration(7) | 117.4 |  |  | — |  |  | — |  |  | 117.4 |  |  | 9.5 |  |  | — |  |  | — |  |  | 9.5 |
Total liabilities | $ | 120.5 |  |  | $ | — |  |  | $ | 3.1 |  |  | $ | 117.4 |  |  | $ | 11.0 |  |  | $ | — |  |  | $ | 1.5 |  |  | $ | 9.5 |
(1) Included in Other non-current assets on the Consolidated Balance Sheets. (2) Includes, as of June 28, 2025, $222.4 million in Cash and cash equivalents, $3.5 million in Restricted cash and $3.1 million in Other non-current assets on the Consolidated Balance Sheets. 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. (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 non-current assets on the Consolidated Balance Sheets. (6) Included in Other current liabilities on the Consolidated Balance Sheets. (7) As of June 28, 2025, includes certain amounts in Other current liabilities and Other non-current liabilities on the Consolidated Balance Sheets. As of June 29, 2024, included in Other non-current liabilities on the Consolidated Balance Sheets.
Schedule of Debt Measures at Fair Value | The Company’s debt measured at fair value for the periods presented are as follows (in millions):
| June 28, 2025 |  | June 29, 2024
| Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Debt: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
3.75% Senior Notes | $ | 373.6 |  |  | $ | — |  |  | $ | 373.6 |  |  | $ | — |  |  | $ | 338.9 |  |  | $ | — |  |  | $ | 338.9 |  |  | $ | — |
1.625% Senior Convertible Notes | 252.0 |  |  | — |  |  | 252.0 |  |  | — |  |  | 238.1 |  |  | — |  |  | 238.1 |  |  | — |
Total liabilities | $ | 625.6 |  |  | $ | — |  |  | $ | 625.6 |  |  | $ | — |  |  | $ | 577.0 |  |  | $ | — |  |  | $ | 577.0 |  |  | $ | — |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- 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
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