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Leases

9 Months Ended

Mar. 29, 2025

Note 12. Leases

The Company is a lessee in several operating leases, primarily real estate facilities for office space. The Company's lease arrangements are comprised of operating leases with various expiration dates through March 31, 2042. The Company's leases do not contain any material residual value guarantees.

Lease expense and cash flow information related to our operating leases is as follows (in millions):


	Three Months Ended				Nine Months Ended
	March 29, 2025		March 30, 2024		March 29, 2025		March 30, 2024

Operating lease costs (1)	$	3.4	$	3.1	$	9.8	$	9.7

Cash paid for amounts included in the measurement of operating lease liabilities	$	3.5	$	3.3	$	9.7	$	11.1
Operating ROU assets obtained in exchange for operating lease obligations	$	4.4	$	3.5	$	7.1	$	6.1

(1)Total variable lease costs were immaterial during the nine months ended March 29, 2025 and March 30, 2024. The total operating costs were included in Cost of revenues, R&D, and SG&A in the Consolidated Statements of Operations.

As of March 29, 2025 and March 30, 2024, the weighted-average remaining lease term was 6.0 years and 6.5 years, respectively, and the weighted-average discount rate was 5.8% and 5.0%, respectively.

Future minimum operating lease payments as of March 29, 2025 are as follows (in millions):


	Operating Leases
Remainder of 2025	$	1.8
Fiscal 2026	11.3
Fiscal 2027	9.1
Fiscal 2028	6.4
Fiscal 2029	4.0
Thereafter	9.1
Total lease payments	41.7
Less: Interest	(6.9)
Present value of lease liabilities	$	34.8