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Discontinued Operations (Tables)
 12 Months Ended
Jun. 27, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations
The Company has classified the results of the Lighting Products business unit as discontinued operations, the results of which for the fiscal year ended June 30, 2019 are as follows:
(in millions of U.S. Dollars)June 30, 2019
Revenue, net$419.8 
Cost of revenue, net324.3 
Gross profit95.5 
Research and development37.1 
Sales, general and administrative100.6 
Amortization or impairment of acquisition-related intangibles116.4 
Goodwill impairment charges90.3 
Loss on disposal or impairment of long-lived assets2.0 
Loss before income taxes and loss on sale(250.9)
Loss on sale66.2 
Loss before income taxes(317.1)
Income tax expense0.1 
Net loss($317.2)
The following table presents the financial results of the LED Business as (loss) income from discontinued operations, net of income taxes in the Company's consolidated statements of operations:
Fiscal Years Ended
(in millions of U.S. Dollars)June 27, 2021June 28, 2020June 30, 2019
Revenue, net$272.8 $433.2 $541.8 
Cost of revenue, net213.3 343.4 394.5 
Gross profit59.5 89.8 147.3 
Operating expenses:
Research and development22.3 32.2 36.8 
Sales, general and administrative29.4 29.7 31.8 
Goodwill impairment112.6 — — 
Impairment on assets held for sale19.5 — — 
Gain on disposal or impairment of long-lived assets(1.6)(0.1)(0.3)
Other operating expense18.7 13.3 1.4 
Operating (loss) income(141.4)14.7 77.6 
Non-operating income(0.3)(0.5)(0.1)
(Loss) income before income taxes and loss on sale(141.1)15.2 77.7 
Loss on sale29.1 — — 
(Loss) income before income taxes(170.2)15.2 77.7 
Income tax expense11.0 8.2 17.1 
Net (loss) income(181.2)7.0 60.6 
Net income attributable to noncontrolling interest1.4 1.1 — 
Net (loss) income attributable to controlling interest($182.6)$5.9 $60.6 
The following table presents the assets and liabilities of the LED Business classified as discontinued operations as of June 28, 2020:
(in millions of U.S. Dollars)June 28, 2020
Assets
Short-term investments$12.0 
Accounts receivable, net41.6 
Inventories57.2 
Prepaid expenses0.1 
Other current assets5.1 
Current assets of discontinued operations116.0 
Property and equipment, net60.3 
Goodwill180.3 
Intangible assets, net22.7 
Deferred tax assets5.1 
Other assets1.7 
Long-term assets of discontinued operations270.1 
Liabilities
Accounts payable and accrued expenses31.0 
Accrued contract liabilities24.1 
Income taxes payable2.0 
Other current liabilities3.1 
Current liabilities of discontinued operations60.2 
Other long-term liabilities9.8 
Long-term liabilities of discontinued operations9.8