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Discontinued Operations (Tables)
 6 Months Ended
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 endedSix months ended
(in millions of U.S. Dollars)December 27, 2020December 29, 2019December 27, 2020December 29, 2019
Revenue, net$105.2 $119.2 $206.3 $234.3 
Cost of revenue, net80.4 92.9 163.0 186.3 
Gross profit24.8 26.3 43.3 48.0 
Operating expenses:
Research and development8.0 8.6 16.4 17.1 
Sales, general and administrative9.0 7.8 16.9 16.4 
Goodwill impairment6.9 — 112.6 — 
Impairment on assets held for sale19.5 — 19.5 — 
(Gain) loss on disposal or impairment of long-lived assets(0.5)— (1.0)0.2 
Other operating expense7.7 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 expense2.7 3.2 3.6 5.0 
Net (loss) income(28.4)3.9 (137.2)5.4 
Net income attributable to noncontrolling interest0.3 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, 2020June 28, 2020
Assets
Short-term investments$8.0 $12.0 
Accounts receivable, net48.1 41.6 
Inventories49.8 57.2 
Prepaid expenses0.4 0.1 
Other current assets4.7 5.1 
Current assets of discontinued operations111.0 116.0 
Property and equipment, net57.8 60.3 
Goodwill58.3 180.3 
Intangible assets, net22.7 22.7 
Deferred tax assets5.1 5.1 
Other assets1.9 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 expenses34.2 31.0 
Accrued contract liabilities22.1 24.1 
Income taxes payable0.9 2.0 
Other current liabilities3.4 3.1 
Current liabilities of discontinued operations60.6 60.2 
Other long-term liabilities10.1 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.