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Financial Statement Details (Tables)

12 Months Ended

Jun. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Accounts Receivable, Net

Accounts receivable, net consisted of the following: 

(in millions of U.S. Dollars)	June 30, 2019				June 24, 2018
Billed trade receivables		$125.8				$128.9
Unbilled contract receivables	0.7				1.0
Royalties	2.8				—
	129.3				129.9
Allowance for sales returns, discounts and other incentives	—				(42.7		)
Allowance for bad debts	(0.4		)		(0.8		)
Accounts receivable, net		$128.9				$86.4

Changes in the Company’s allowance for sales returns, discounts and other incentives were as follows:

	Fiscal Years Ended
(in millions of U.S. Dollars)	June 30, 2019				June 24, 2018				June 25, 2017
Balance at beginning of period		$42.7				$36.7				$36.2
Current period claims	—				(145.0		)		(153.6		)
Provision for sales returns, discounts and other incentives	—				151.0				154.1
Reclassification to contract liabilities	(42.7		)		—				—
Balance at end of period		$—				$42.7				$36.7

Changes in the Company’s allowance for bad debts were as follows: 

	Fiscal Years Ended
(in millions of U.S. Dollars)	June 30, 2019				June 24, 2018				June 25, 2017
Balance at beginning of period		$0.8				$1.6				$1.5
Current period provision change	(0.3		)		0.4				0.1
Write-offs, net of recoveries	(0.1		)		(1.2		)		—
Balance at end of period		$0.4				$0.8				$1.6

Schedule of Inventories

Inventories consisted of the following: 

(in millions of U.S. Dollars)	June 30, 2019				June 24, 2018
Raw material		$42.4				$35.1
Work-in-progress	101.1				86.2
Finished goods	43.9				30.3
Inventories		$187.4				$151.6

Schedule of Property and Equipment, Net

Property and equipment, net consisted of the following:

(in millions of U.S. Dollars)	June 30, 2019				June 24, 2018
Furniture and fixtures		$9.7				$11.9
Land and buildings	416.5				389.5
Machinery and equipment	1,110.3				1,140.6
Vehicles	0.9				0.9
Computer hardware/software	48.6				42.5
Leasehold improvements and other	4.2				5.5
Construction in progress	231.7				207.2
Property and equipment, gross	1,821.9				1,798.1
Accumulated depreciation	(1,196.7		)		(1,209.0		)
Property and equipment, net		$625.2				$589.1

Schedule of Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consisted of the following:

(in millions of U.S. Dollars)	June 30, 2019				June 24, 2018
Accounts payable, trade		$90.7				$68.4
Accrued salaries and wages	70.9				41.9
Accrued expenses	34.0				32.8
Other	5.3				5.4
Accounts payable and accrued expenses		$200.9				$148.5

Schedule of Accumulated Other Comprehensive Income, Net of Taxes

Accumulated other comprehensive income, net of taxes consisted of the following:

(in millions of U.S. Dollars)	June 30, 2019				June 24, 2018
Currency translation gain		$9.5				$5.1
Net unrealized loss on available-for-sale securities	—				(4.5		)
Accumulated other comprehensive income, net of taxes		$9.5				$0.6

Schedule of Other Operating Expense (Income)

The following table summarizes the components of other operating expense (income):

	Fiscal Years Ended
(in millions of U.S. Dollars)	June 30, 2019				June 24, 2018				June 25, 2017
Factory optimization restructuring		$4.1				$—				$—
Severance and other restructuring	4.2				3.8				—
Total restructuring costs	8.3				3.8				—
Project and transaction costs	16.9				8.5				—
Executive severance	1.3				4.5				2.2
Factory optimization start up costs	1.5				—				—
Gain from termination of Wolfspeed transaction, net	—				—				(2.8		)
Other operating expense (income)		$28.0				$16.8				($0.6	)

Schedule of Non-Operating Expense (Income), Net

The following table summarizes the components of non-operating expense (income), net:

	Fiscal Years Ended
(in millions of U.S. Dollars)	June 30, 2019				June 24, 2018				June 25, 2017
Loss (gain) on sale of investments, net		$0.1				$0.1				($0.1	)
Loss (gain) on equity investment	16.2				(7.1		)		(7.5		)
Interest expense (income), net	12.0				(1.8		)		(3.7		)
Foreign currency loss (gain), net	1.3				(1.8		)		(2.3		)
Other, net	(0.3		)		0.2				0.6
Non-operating expense (income), net		$29.3				($10.4	)			($13.0	)

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