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Balance Sheet and Other Details (Tables) | 12 Months Ended
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Jun. 28, 2025
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 28, 2025 (in millions):
Balance as of June 29, 2024 | $ | 91.4 |
Revenue deferrals for new contracts(1) | 119.3 |
Revenue recognized during the period(2) | (108.4) |
Balance as of June 28, 2025(3) | $ | 102.3 |
Short-term deferred revenue | $ | 74.1 |
Long-term deferred revenue | $ | 28.2 |
(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 Period |  | Acquisition(1) |  | Charged to Costs and Expenses |  | Deduction(2) |  | Balance at End of Period
Year Ended June 28, 2025 | $ | 1.6 |  |  | $ | 0.6 |  |  | $ | 1.0 |  |  | $ | (1.3) |  |  | $ | 1.9 |
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 |
(1) Refer to “Note 5. Acquisitions” for details of acquisition. (2) Represents the effect of foreign 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 follo ws (in millions):
| June 28, 2025 |  | June 29, 2024
Finished goods | $ | 52.5 |  |  | $ | 44.6 |
Work in process | 18.3 |  |  | 15.4 |
Raw materials | 47.1 |  |  | 36.5 |
Inventories, net | $ | 117.9 |  |  | $ | 96.5 |
Schedule of Components of Prepayments and Other Current Assets | The following table presents the components of prepayments and other current assets, as follo ws (in millions):
| June 28, 2025 |  | June 29, 2024
Refundable income taxes | $ | 32.0 |  |  | $ | 28.5 |
Prepayments | 21.9 |  |  | 18.5 |
Advances to contract manufacturers | 5.8 |  |  | 5.7 |
Fair value of forward contracts | 4.9 |  |  | 1.7 |
Transaction tax receivables | 0.2 |  |  | 3.3 |
Assets held for sale | — |  |  | 2.5 |
Other current assets | 12.5 |  |  | 10.5 |
Prepayments and other current assets | $ | 77.3 |  |  | $ | 70.7 |
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 28, 2025 |  | June 29, 2024
Land | $ | 19.9 |  |  | $ | 19.5 |
Buildings and improvements | 79.6 |  |  | 74.9 |
Machinery and equipment | 400.5 |  |  | 378.6 |
Furniture, fixtures, software and office equipment | 67.8 |  |  | 70.7 |
Leasehold improvements | 75.9 |  |  | 73.0 |
Construction in progress | 26.5 |  |  | 20.0 |
Property, plant and equipment, gross | 670.2 |  |  | 636.7 |
Less: Accumulated depreciation | (438.3) |  |  | (408.5) |
Property, plant and equipment, net | $ | 231.9 |  |  | $ | 228.2 |
Schedule of Components of Other Current Assets | The following table presents the components of other non-current assets, as follo ws (in millions):
| June 28, 2025 |  | June 29, 2024
Operating ROU assets, net | $ | 34.1 |  |  | $ | 35.8 |
Long-term restricted cash | 4.9 |  |  | 5.5 |
Deferred contract cost | 3.0 |  |  | 2.5 |
Long-term investment (Note 7) | 3.0 |  |  | — |
Deposits | 2.4 |  |  | 2.4 |
Debt issuance cost - Revolving Credit Facility | 1.4 |  |  | 1.9 |
Other non-current assets | 13.4 |  |  | 9.9 |
Other non-current assets | $ | 62.2 |  |  | $ | 58.0 |
Schedule of Components of Other Current Liabilities | The following table presents the components of other current liabilities, as follows (in millions):
| June 28, 2025 |  | June 29, 2024
Fair value of contingent consideration (Note 5) | $ | 41.5 |  |  | $ | — |
Acquisition related holdback and related accruals | 16.5 |  |  | — |
Operating lease liabilities | 10.2 |  |  | 9.8 |
Income tax payable | 8.2 |  |  | 5.3 |
Transaction tax payable | 6.0 |  |  | 4.0 |
Warranty accrual | 5.9 |  |  | 3.4 |
Interest payable | 5.1 |  |  | 5.1 |
Restructuring accrual (Note 13) | 3.5 |  |  | 14.1 |
Fair value of forward contracts | 3.1 |  |  | 1.5 |
Other current liabilities | 8.3 |  |  | 14.3 |
Other current liabilities | $ | 108.3 |  |  | $ | 57.5 |
Schedule of Components of Other Non-current Liabilities | The following table presents the components of other non-current liabilities, as follo ws (in millions):
| June 28, 2025 |  | June 29, 2024
Fair value of contingent consideration (Note 5) | $ | 75.9 |  |  | $ | 9.5 |
Pension and post-employment benefits | 54.1 |  |  | 51.2 |
Long-term deferred revenue | 28.2 |  |  | 25.7 |
Operating lease liabilities | 24.1 |  |  | 25.7 |
Financing obligation | 15.5 |  |  | 15.7 |
Uncertain tax position | 11.4 |  |  | 17.0 |
Deferred tax liability | 6.0 |  |  | 11.7 |
Asset retirement obligations | 3.5 |  |  | 3.0 |
Warranty accrual | 0.8 |  |  | 4.0 |
Restructuring accrual | — |  |  | 0.8 |
Other non-current liabilities | 8.1 |  |  | 7.3 |
Other non-current liabilities | $ | 227.6 |  |  | $ | 171.6 |
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 28, 2025 |  | June 29, 2024 |  | July 1, 2023
Interest income | $ | 13.1 |  |  | $ | 18.9 |  |  | $ | 10.2 |
Foreign exchange loss, net | (1.7) |  |  | (3.1) |  |  | (2.2) |
Gain on litigation settlement | — |  |  | 7.3 |  |  | — |
Other loss, net | (0.3) |  |  | (1.4) |  |  | (0.4) |
Interest and other income, net | $ | 11.1 |  |  | $ | 21.7 |  |  | $ | 7.6 |

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