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Acquisitions (Tables)
 3 Months Ended
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, net8.1 
Inventory, net26.0 
Prepayments and other current assets1.1 
Property, plant and equipment, net1.9 
Goodwill(1)
130.3 
Identified intangible assets acquired117.6 
Other non-current assets1.9 
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 LifeAmount
Developed technology
4 to 7 years
$102.0 
Customer relationship6 years9.6 
Tradename3 years0.8 
Backlog2 years5.2 
  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 Consideration116.2 
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.