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Fair Value Measurements (Tables)

9 Months Ended

Mar. 29, 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):

			March 29, 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)			218.4						218.4						—						—						295.3						295.3						—						—
Trading securities (3)			1.4						1.4						—						—						1.5						1.5						—						—
Foreign currency forward contracts (4)			6.8						—						6.8						—						1.7						—						1.7						—
Non-marketable equity security (5)			3.0						—						—						3.0						—						—						—						—
Total assets			$	229.9					$	219.8					$	7.1					$	3.0					$	298.8					$	296.8					$	2.0					$	—
Liabilities:
Foreign currency forward contracts (6)			$	6.4					$	—					$	6.4					$	—					$	1.5					$	—					$	1.5					$	—
Contingent consideration (7)			120.8						—						—						120.8						9.5						—						—						9.5
Total liabilities			$	127.2					$	—					$	6.4					$	120.8					$	11.0					$	—					$	1.5					$	9.5

(1)Included in Other non-current assets on the Consolidated Balance Sheets.

(2)Includes, as of March 29, 2025, $211.7 million in Cash and cash equivalents, $3.3 million in Restricted cash and $3.4 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 March 29, 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 Long-term Debt Instruments

The Company’s debt measured at fair value for the periods presented is as follows (in millions):

			March 29, 2025																								June 29, 2024
			Total						Level 1						Level 2						Level 3						Total						Level 1						Level 2						Level 3
Debt:
3.75% Senior Notes			$	366.3					$	—					$	366.3					$	—					$	338.9					$	—					$	338.9					$	—
1.625% Senior Convertible Notes			270.0						—						270.0						—						238.1						—						238.1						—
Total			$	636.3					$	—					$	636.3					$	—					$	577.0					$	—					$	577.0					$	—

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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).

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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