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Acquisitions (Tables) | 3 Months Ended
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Sep. 27, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Business Combination, Recognized Asset Acquired and Liability Assumed | The following table presents the preliminary allocation of the purchase price (in millions):
|  |  | Amount |  |
Cash and cash equivalents |  |  | $ | 16.5 |  |  |
Accounts receivable, net |  |  | 8.1 |  |  |
Inventory, net |  |  | 26.0 |  |  |
Prepayments and other current assets |  |  | 1.1 |  |  |
Property, plant and equipment, net |  |  | 1.9 |  |  |
Goodwill(1) |  |  | 130.3 |  |  |
Identified intangible assets acquired |  |  | 117.6 |  |  |
Other non-current assets |  |  | 1.9 |  |  |
Accounts payable |  |  | (1.4) |  |  |
Accrued payroll and related expenses |  |  | (0.5) |  |  |
Deferred revenue |  |  | (0.3) |  |  |
Accrued expenses |  |  | (3.5) |  |  |
Other non-current liabilities |  |  | (27.1) |  |  |
Total purchase consideration |  |  | $ | 270.6 |  |  |
(1) Goodwill at acquisition date of $129.7 million increased by $0.6 million for purchase price and measurement period adjustments.
Business Combination, Intangible Asset, Acquired, Finite-Lived | The following table sets forth the components of identifiable intangible assets acquired and their estimated useful lives as of the date of acquisition (in millions, except useful life):
| Estimated Useful Life |  | Amount |  |
Developed technology | 4 to 7 years |  | $ | 102.0 |  |  |
Customer relationship | 6 years |  | 9.6 |  |  |
Tradename | 3 years |  | 0.8 |  |  |
Backlog | 2 years |  | 5.2 |  |  |
Total identifiable assets acquired |  |  | $ | 117.6 |  |  |
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 three months ended September 27, 2025 and September 28, 2024 (in millions):
| Total
Balance June 29, 2024(1) | $ | 9.5 |
Additions to Contingent Consideration | 116.2 |
Change in Fair Value measurement(2) | (8.3) |
Balance June 28, 2025(3)(4) | $ | 117.4 |
Change in Fair Value measurement(2) | 10.9 |
Balance September 27, 2025(5) | $ | 128.3 |
(1)Included in Other non-current liabilities on the Consolidated Balance Sheets. (2)Includes change in fair value for Inertial Labs and and Jackson Labs. (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. (5)Includes $64.2 million in Other current liabilities and $64.1 million in Other non-current liabilities for Inertial Labs on the Consolidated Balance Sheets.

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of finite-lived intangible asset acquired in business combination. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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