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Stock-Based Compensation (Tables)

12 Months Ended

Jun. 28, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Option Activity

The following table summarizes option activity as of June 28, 2020 and changes during the fiscal year then ended (shares in thousands)

			Number of Shares						Weighted Average Exercise Price						Weighted Average Remaining Contractual Term						Total Intrinsic Value (in millions of U.S. Dollars)
Outstanding at June 30, 2019			2,418						$39.81
Granted			—						—
Exercised			(1,371)						40.49
Forfeited or expired			(64)						55.37
Outstanding at June 28, 2020			983						37.88						1.77						$19.7
Vested and expected to vest at June 28, 2020			983						37.88						1.77						$19.7
Exercisable at June 28, 2020			981						37.91						1.76						$19.6

Schedule of Stock Options Outstanding and Exercisable

The following table summarizes information about stock options outstanding and exercisable at June 28, 2020 (shares in thousands):

						Options Outstanding																		Options Exercisable
Range of Exercise Price						Number						Weighted Average Remaining Contractual Life (Years)						Weighted Average Exercise Price						Number						Weighted Average Exercise Price
$0.01 to $25.00						262						3.2						$24.34						261						$24.34
$25.01 to $35.00						203						2.3						26.59						202						26.59
$35.01 to $45.00						6						1.4						38.50						6						38.50
$45.01 to $55.00						468						0.9						48.12						468						48.12
$55.01 to $73.00						44						0.5						61.93						44						61.93
Total						983																		981

Schedule of Other Information Pertaining to Stock Option Awards

Other information pertaining to the Company’s stock option awards is as follows: 

			Fiscal Years Ended
			June 28, 2020						June 30, 2019						June 24, 2018
Weighted average grant date fair value per share of options			$—						$—						$8.02
Total intrinsic value of options exercised (in millions of U.S. Dollars)			$22.8						$63.3						$24.3

Schedule of Nonvested Restricted Stock Awards and Restricted Stock Unit Awards Outstanding

A summary of nonvested restricted stock awards (RSAs) and restricted stock unit awards (RSUs) outstanding as of June 28, 2020 and changes during the year then ended is as follows (shares in thousands):

			Number of RSAs/RSUs						Weighted Average Grant-Date Fair Value
Nonvested at June 30, 2019			3,081						$34.99
Granted			1,206						53.14
Vested			(1,138)						30.77
Forfeited			(217)						37.72
Nonvested at June 28, 2020			2,932						$43.89

Schedule of Total Stock-Based Compensation Expense

Total stock-based compensation expense was classified in the consolidated statements of operations as follows:

			Fiscal Years Ended
(in millions of U.S. Dollars)			June 28, 2020						June 30, 2019						June 24, 2018
Cost of revenue, net			$10.0						$7.8						$5.8
Research and development			8.0						6.2						5.9
Sales, general and administrative			30.8						28.9						21.3
Total stock-based compensation expense			$48.8						$42.9						$33.0

Schedule of Weighted Average Assumptions Utilized to Value Stock-Based Compensation

The range of assumptions used to value stock issued under the ESPP were as follows:

			Fiscal Years Ended
			June 28, 2020						June 30, 2019						June 24, 2018
Risk-free interest rate			0.12 - 2.67%						2.39 - 2.67%						0.89 - 2.26%
Expected life, in years			0.5 - 1.0						0.5 - 1.0						0.5 - 1.0
Volatility			34.5 - 82.6%						34.5 - 39.6%						34.5 - 40.2%
Dividend yield			—						—						—

The weighted average assumptions used to value stock option grants in fiscal 2018 were as follows:

Risk-free interest rate												1.75		%
Expected life, in years												4.0
Volatility												38.6		%
Dividend yield												—

No stock option grants occurred in fiscal 2020 or fiscal 2019.

The range of assumptions used for issued performance units were as follows:

			Fiscal Years Ended
			June 28, 2020						June 30, 2019						June 24, 2018
Risk-free interest rate			0.28 - 1.66%						2.68%						1.44 - 1.59%
Expected life, in years			3.0						3.0						2.8 - 3.0
Average volatility of peer companies			48.9 - 55.2%						46.8%						46.4%
Average correlation coefficient of peer companies			0.36 - 0.45						0.34						0.34
Dividend yield			—						—						—

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