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Balance Sheet and Other Details | 3 Months Ended
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Sep. 27, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Balance Sheet and Other Details | Note 6. Balance Sheet and Other Details Contract Balances Gross receivables include both billed and unbilled receivables (including Contract assets). As of September 27, 2025, and June 28, 2025, the Company had total unbilled receivables of $14.6 million and $14.1 million, respectively. The Company also has short-term and long-term deferred revenues related to undelivered product and professional services, consisting of installations and consulting engagements, which are recognized as the Company's performance obligations under the contract are completed and accepted by the customer. The following table presents the activity related to deferred revenue (in millions):
| Three Months Ended |  |  |  |
| September 27, 2025 |  |
Deferred revenue: |  |  |  |  |
Balance at beginning of period | $ | 102.3 |  |  |  |  |
Revenue deferrals for new contracts(1) | 18.4 |  |  |  |  |
Revenue recognized during the period(2) | (29.6) |  |  |  |  |
Balance at end of period | $ | 91.1 |  |  |  |  |
(1)This amount includes the effect of 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 current period deferrals. Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations, changes in the scope of contracts, adjustments for revenue that have not materialized, and currency fluctuations. The value of the transaction price allocated to remaining performance obligations as of September 27, 2025, was $352.6 million. The Company expects to recognize approximately 91% of remaining performance obligations as revenue within the next 12 months, and the remainder thereafter. Accounts receivable allowances - Credit losses The following table presents the activities and balances for allowance for credit losses (in millions):
| June 28, 2025 |  |  |  | Charged to Costs and Expenses |  | Deductions(1) |  | September 27, 2025
Allowance for credit losses | $ | 1.9 |  |  |  |  | $ | 0.7 |  |  | $ | (0.1) |  |  | $ | 2.5 |
(1)Represents the effect of currency translation adjustments and write-offs of uncollectible accounts, net of recoveries. Inventories, net The following table presents the components of inventories, net (in millions):
| September 27, 2025 |  | June 28, 2025
Finished goods | $ | 54.1 |  |  | $ | 52.5 |
Work in process | 19.8 |  |  | 18.3 |
Raw materials | 50.6 |  |  | 47.1 |
Inventories, net | $ | 124.5 |  |  | $ | 117.9 |
Prepayments and other current assets The following table presents the components of prepayments and other current assets (in millions):
| September 27, 2025 |  | June 28, 2025
Refundable income taxes | $ | 31.8 |  |  | $ | 32.0 |
Prepayments | 20.2 |  |  | 21.9 |
Advances to contract manufacturers | 8.4 |  |  | 5.8 |
Fair value of forward contracts | 1.0 |  |  | 4.9 |
Other current assets | 13.3 |  |  | 12.7 |
Prepayments and other current assets | $ | 74.7 |  |  | $ | 77.3 |
Other non-current assets The following table presents the components of other non-current assets (in millions):
| September 27, 2025 |  | June 28, 2025
Operating right-of-use (ROU) assets | $ | 39.4 |  |  | $ | 34.1 |
Long-term restricted cash | 4.8 |  |  | 4.9 |
Long-term investment (Note 7) | 3.0 |  |  | 3.0 |
Deferred contract cost | 2.6 |  |  | 3.0 |
Deposits | 2.3 |  |  | 2.4 |
Debt issuance cost - Revolving Credit Facility | 1.8 |  |  | 1.4 |
Other | 14.7 |  |  | 13.4 |
Other non-current assets | $ | 68.6 |  |  | $ | 62.2 |
Other current liabilities The following table presents the components of other current liabilities (in millions):
| September 27, 2025 |  | June 28, 2025
Fair value of contingent consideration (Note 5) | $ | 64.2 |  |  | $ | 41.5 |
Acquisition related holdback and related accruals | 16.3 |  |  | 16.5 |
Operating lease liabilities | 10.1 |  |  | 10.2 |
Interest payable | 8.0 |  |  | 5.1 |
Income tax payable | 7.6 |  |  | 8.2 |
Warranty accrual | 6.3 |  |  | 5.9 |
Restructuring accrual (Note 13) | 2.7 |  |  | 3.5 |
Fair value of forward contracts | 1.2 |  |  | 3.1 |
Other | 14.9 |  |  | 14.3 |
Other current liabilities | $ | 131.3 |  |  | $ | 108.3 |
Other non-current liabilities The following table presents components of other non-current liabilities (in millions):
| September 27, 2025 |  | June 28, 2025
Fair value of contingent consideration (Note 5) | $ | 64.1 |  |  | $ | 75.9 |
Pension and post-employment benefits | 53.7 |  |  | 54.1 |
Long-term deferred revenue | 26.9 |  |  | 28.2 |
Operating lease liabilities | 29.4 |  |  | 24.1 |
Financing obligation | 15.5 |  |  | 15.5 |
Uncertain tax position | 11.4 |  |  | 11.4 |
Deferred tax liability | 7.1 |  |  | 6.0 |
Asset retirement obligations | 3.6 |  |  | 3.5 |
Warranty accrual | 0.2 |  |  | 0.8 |
Other | 8.3 |  |  | 8.1 |
Other non-current liabilities | $ | 220.2 |  |  | $ | 227.6 |

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