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Financial Statement Details (Tables) | 9 Months Ended
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Mar. 27, 2022
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) | March 27, 2022 |  | June 27, 2021
Billed trade receivables | $120.6 |  |  | $95.6 |
Unbilled contract receivables | 2.1 |  |  | 0.6 |
Royalties | 0.7 |  |  | 0.5 |
| 123.4 |  |  | 96.7 |
Allowance for bad debts | (1.0) |  |  | (0.8) |
Accounts receivable, net | $122.4 |  |  | $95.9 |
Schedule of Allowance for Bad Debts | Changes in the Company’s allowance for bad debts were as follows:
(in millions of U.S. Dollars) | March 27, 2022
Balance at beginning of period | $0.8 |
Current period provision change | 0.2 |
Write-offs, net of recoveries | — |
Balance at end of period | $1.0 |
Schedule of Inventories | Inventories consisted of the following:
(in millions of U.S. Dollars) | March 27, 2022 |  | June 27, 2021
Raw material | $52.7 |  |  | $43.3 |
Work-in-progress | 146.0 |  |  | 109.5 |
Finished goods | 20.7 |  |  | 13.8 |
Inventories | $219.4 |  |  | $166.6 |
Schedule of Other Current Assets | Other current assets consisted of the following:
(in millions of U.S. Dollars) | March 27, 2022 |  | June 27, 2021
Reimbursement receivable on long-term incentive agreement | $153.7 |  |  | $4.6 |
Accrued interest receivable | 4.4 |  |  | 5.5 |
Receivable on Wafer Supply Agreement | 2.4 |  |  | 7.0 |
Inventory related to Wafer Supply Agreement | 3.3 |  |  | 3.9 |
Deferred product costs | 2.5 |  |  | 1.8 |
Other | 3.0 |  |  | 5.1 |
Other current assets | $169.3 |  |  | $27.9 |
Schedule of Accounts Payable and Accrued Expenses | Accounts payable and accrued expenses consisted of the following:
(in millions of U.S. Dollars) | March 27, 2022 |  | June 27, 2021
Accounts payable, trade | $54.1 |  |  | $44.2 |
Accrued salaries and wages | 79.9 |  |  | 69.5 |
Accrued property and equipment | 88.3 |  |  | 248.3 |
Accrued expenses | 21.0 |  |  | 17.4 |
Other | 5.0 |  |  | 1.7 |
Accounts payable and accrued expenses | $248.3 |  |  | $381.1 |
Schedule of Other Operating Expense | Other operating expense consisted of the following:
| Three months ended |  | Nine months ended
(in millions of U.S. Dollars) | March 27, 2022 |  | March 28, 2021 |  | March 27, 2022 |  | March 28, 2021
Factory optimization restructuring | $0.8 |  |  | $3.8 |  |  | $5.5 |  |  | $6.7 |
Severance and other restructuring | 0.5 |  |  | 0.6 |  |  | 0.5 |  |  | 3.4 |
Total restructuring costs | 1.3 |  |  | 4.4 |  |  | 6.0 |  |  | 10.1 |
Project, transformation and transaction costs | 1.2 |  |  | 2.4 |  |  | 5.3 |  |  | 3.7 |
Factory optimization start-up costs | 21.4 |  |  | 1.8 |  |  | 41.0 |  |  | 6.0 |
Non-restructuring related executive severance | — |  |  | 2.8 |  |  | — |  |  | 2.8 |
Other operating expense | $23.9 |  |  | $11.4 |  |  | $52.3 |  |  | $22.6 |
Schedule of Non-Operating Expense (Income), Net | The following table summarizes the components of non-operating expense, net:
| Three months ended |  | Nine months ended
(in millions of U.S. Dollars) | March 27, 2022 |  | March 28, 2021 |  | March 27, 2022 |  | March 28, 2021
Foreign currency gain, net | ($0.3) |  |  | ($0.1) |  |  | ($0.6) |  |  | ($2.5) |
Gain on sale of investments, net | — |  |  | (0.1) |  |  | (0.3) |  |  | (0.3) |
Loss on debt extinguishment (1) | — |  |  | — |  |  | 24.8 |  |  | — |
Gain on equity investment, net | — |  |  | (0.9) |  |  | — |  |  | (7.9) |
Interest income | (2.8) |  |  | (1.9) |  |  | (7.8) |  |  | (6.8) |
Interest expense, net of capitalized interest | 5.1 |  |  | 11.2 |  |  | 17.1 |  |  | 36.2 |
Loss on Wafer Supply Agreement | 0.5 |  |  | 0.1 |  |  | 1.4 |  |  | 0.1 |
Loss on early payment of transaction-related note receivable (2) | 1.2 |  |  | — |  |  | 1.2 |  |  | — |
Other, net | 0.1 |  |  | (0.2) |  |  | (0.1) |  |  | 0.1 |
Non-operating expense, net | $3.8 |  |  | $8.1 |  |  | $35.7 |  |  | $18.9 |
(1) As discussed further in Note 9, "Long-term Debt," in the second quarter of fiscal 2022, all outstanding 0.875% convertible senior notes due September 1, 2023 (the 2023 Notes) were surrendered for conversion, resulting in the settlement of all outstanding 2023 Notes in shares, with fractional shares paid in cash. (2) As discussed further in Note 2, "Discontinued Operations," in the third quarter of fiscal 2022, the Company recognized a loss of $1.2 million related to the early payment for the Purchase Price Note.
Schedule of Noncash Operating Activities |
| Nine months ended
(in millions of U.S. Dollars) | March 27, 2022 |  | March 28, 2021
Lease asset and liability additions | $6.3 |  |  | $1.7 |
Lease asset and liability modifications, net | 3.3 |  |  | 0.3 |
Lease terminations | (0.2) |  |  | — |
Transfer of finance lease liability to accounts payable and accrued expenses (1) | — |  |  | 4.2 |
Settlement of 2023 Notes in shares of common stock (2) | 416.1 |  |  | — |
Decrease in property, plant and equipment from long-term incentive related receivables | 137.3 |  |  | — |
(1) In the first quarter of fiscal 2021, the Company executed the available bargain purchase option for certain finance leases relating to property and equipment, net, in order to purchase the assets. (2) As discussed further in Note 9, "Long-term Debt," in the second quarter of fiscal 2022, all outstanding 2023 Notes were surrendered for conversion, resulting in the settlement of all outstanding 2023 Notes in shares, with fractional shares paid in cash.

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