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Fair Value Measurements (Tables)

12 Months Ended

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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