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Fair Value Measurements
 12 Months Ended
Jun. 28, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements
Note 8. Fair Value Measurements
Fair Value Measurements
The Company’s assets and liabilities measured at fair value for the periods presented are as follows (in millions):
June 28, 2025June 29, 2024
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Assets:      
Debt available-for-sale securities:      
Asset-backed securities(1)
$0.3 $— $0.3 $— $0.3 $— $0.3 $— 
Total debt available-for-sale securities0.3 — 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.
Other Fair Value Measures
Fair Value of Debt: If measured at fair value on the Consolidated Balance Sheets, the Company’s 3.75% Senior Notes (2029 Notes) and 1.625% Senior Convertible Notes (2026 Notes) would be classified in Level 2 of the fair value hierarchy as they are not actively traded in the markets.
The Company’s debt measured at fair value for the periods presented are as follows (in millions):
June 28, 2025June 29, 2024
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 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 $—