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Discontinued Operations (Tables) | 6 Months Ended
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Dec. 27, 2020
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations | 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:
| Three months ended |  | Six months ended
(in millions of U.S. Dollars) | December 27, 2020 |  | December 29, 2019 |  | December 27, 2020 |  | December 29, 2019
Revenue, net | $105.2 |  |  | $119.2 |  |  | $206.3 |  |  | $234.3 |
Cost of revenue, net | 80.4 |  |  | 92.9 |  |  | 163.0 |  |  | 186.3 |
Gross profit | 24.8 |  |  | 26.3 |  |  | 43.3 |  |  | 48.0 |
Operating expenses: |  |  |  |  |  |  |
Research and development | 8.0 |  |  | 8.6 |  |  | 16.4 |  |  | 17.1 |
Sales, general and administrative | 9.0 |  |  | 7.8 |  |  | 16.9 |  |  | 16.4 |
Goodwill impairment | 6.9 |  |  | — |  |  | 112.6 |  |  | — |
Impairment on assets held for sale | 19.5 |  |  | — |  |  | 19.5 |  |  | — |
(Gain) loss on disposal or impairment of long-lived assets | (0.5) |  |  | — |  |  | (1.0) |  |  | 0.2 |
Other operating expense | 7.7 |  |  | 2.9 |  |  | 12.5 |  |  | 4.0 |
Operating (loss) income | (25.8) |  |  | 7.0 |  |  | (133.6) |  |  | 10.3 |
Non-operating income | (0.1) |  |  | (0.1) |  |  | — |  |  | (0.1) |
(Loss) income before income taxes | (25.7) |  |  | 7.1 |  |  | (133.6) |  |  | 10.4 |
Income tax expense | 2.7 |  |  | 3.2 |  |  | 3.6 |  |  | 5.0 |
Net (loss) income | (28.4) |  |  | 3.9 |  |  | (137.2) |  |  | 5.4 |
Net income attributable to noncontrolling interest | 0.3 |  |  | 0.3 |  |  | 0.6 |  |  | 0.3 |
Net (loss) income attributable to controlling interest | ($28.7) |  |  | $3.6 |  |  | ($137.8) |  |  | $5.1 |
The following table presents the assets and liabilities of the LED Business classified as discontinued operations:
(in millions of U.S. Dollars) | December 27, 2020 |  | June 28, 2020
Assets |  |  |
Short-term investments | $8.0 |  |  | $12.0 |
Accounts receivable, net | 48.1 |  |  | 41.6 |
Inventories | 49.8 |  |  | 57.2 |
Prepaid expenses | 0.4 |  |  | 0.1 |
Other current assets | 4.7 |  |  | 5.1 |
Current assets of discontinued operations | 111.0 |  |  | 116.0 |
Property and equipment, net | 57.8 |  |  | 60.3 |
Goodwill | 58.3 |  |  | 180.3 |
Intangible assets, net | 22.7 |  |  | 22.7 |
Deferred tax assets | 5.1 |  |  | 5.1 |
Other assets | 1.9 |  |  | 1.7 |
Valuation allowance on held for sale assets | (19.5) |  |  | — |
Long-term assets of discontinued operations (1) | 126.3 |  |  | 270.1 |
Liabilities |  |  |
Accounts payable and accrued expenses | 34.2 |  |  | 31.0 |
Accrued contract liabilities | 22.1 |  |  | 24.1 |
Income taxes payable | 0.9 |  |  | 2.0 |
Other current liabilities | 3.4 |  |  | 3.1 |
Current liabilities of discontinued operations | 60.6 |  |  | 60.2 |
Other long-term liabilities | 10.1 |  |  | 9.8 |
Long-term liabilities of discontinued operations (1) | 10.1 |  |  | 9.8 |
(1) Long-term assets and liabilities of discontinued operations as of December 27, 2020 are classified as current on the consolidated balance sheet as the Company expects the transaction to close within twelve months of the balance sheet date.

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