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v3.22.2.2

Financial Statement Details (Tables) | 3 Months Ended
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Sep. 25, 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) | September 25, 2022 |  | June 26, 2022
Billed trade receivables | $156.3 |  |  | $148.0 |
Unbilled contract receivables | 2.3 |  |  | 2.7 |
Royalties | 0.7 |  |  | 0.7 |
| 159.3 |  |  | 151.4 |
Allowance for bad debts | (0.7) |  |  | (1.2) |
Accounts receivable, net | $158.6 |  |  | $150.2 |
Schedule of Allowance for Bad Debts | Changes in the Company’s allowance for bad debts were as follows:
(in millions of U.S. Dollars) | September 25, 2022
Balance at beginning of period | $1.2 |
Current period provision change | (0.5) |
Write-offs, net of recoveries | — |
Balance at end of period | $0.7 |
Schedule of Inventories | Inventories consisted of the following:
(in millions of U.S. Dollars) | September 25, 2022 |  | June 26, 2022
Raw material | $73.1 |  |  | $60.2 |
Work-in-progress | 138.2 |  |  | 135.9 |
Finished goods | 30.5 |  |  | 30.9 |
Inventories | $241.8 |  |  | $227.0 |
Schedule of Other Current Assets | Other current assets consisted of the following:
(in millions of U.S. Dollars) | September 25, 2022 |  | June 26, 2022
Reimbursement receivable on long-term incentive agreement | $107.9 |  |  | $132.5 |
Accrued interest receivable | 4.5 |  |  | 5.9 |
Receivable on Wafer Supply Agreement | 1.7 |  |  | 2.7 |
Inventory related to Wafer Supply Agreement | 4.5 |  |  | 3.9 |
Deferred product costs | 1.2 |  |  | 2.5 |
Other | 4.0 |  |  | 3.9 |
Other current assets | $123.8 |  |  | $151.4 |
Schedule of Accounts Payable and Accrued Expenses | Accounts payable and accrued expenses consisted of the following:
(in millions of U.S. Dollars) | September 25, 2022 |  | June 26, 2022
Accounts payable, trade | $55.9 |  |  | $57.8 |
Accrued salaries and wages | 63.7 |  |  | 80.6 |
Accrued property and equipment | 146.3 |  |  | 132.1 |
Accrued expenses | 34.9 |  |  | 30.7 |
Other | 6.3 |  |  | 6.5 |
Accounts payable and accrued expenses | $307.1 |  |  | $307.7 |
Schedule of Other Operating Expense | Other operating expense consisted of the following:
|  |  | Three months ended
(in millions of U.S. Dollars) |  |  |  |  | September 25, 2022 |  | September 26, 2021
Restructuring costs |  |  |  |  | — |  |  | 2.6 |
Project, transformation and transaction costs |  |  |  |  | 3.0 |  |  | 1.6 |
Factory start-up costs |  |  |  |  | 38.4 |  |  | 8.6 |
Non-restructuring related executive severance |  |  |  |  | 1.0 |  |  | — |
Other operating expense |  |  |  |  | $42.4 |  |  | $12.8 |
Schedule of Non-Operating (Income) Expense, Net | The following table summarizes the components of non-operating (income) expense, net:
|  |  | Three months ended
(in millions of U.S. Dollars) |  |  |  |  | September 25, 2022 |  | September 26, 2021
Gain on sale of investments, net |  |  |  |  | — |  |  | (0.2) |
Gain on arbitration proceedings (1) |  |  |  |  | (49.4) |  |  | — |
Interest income |  |  |  |  | (4.3) |  |  | (2.6) |
Interest expense, net of capitalized interest |  |  |  |  | 4.8 |  |  | 6.7 |
Other, net |  |  |  |  | (0.8) |  |  | 0.2 |
Non-operating (income) expense, net |  |  |  |  | ($49.7) |  |  | $4.1 |
(1) In the first quarter of fiscal 2023, the Company received an arbitration award in relation to a former customer failing to fulfill contractual obligations to purchase a certain amount of product over a period of time. The arbitration award, net of legal fees incurred, was recognized as non-operating income.
Schedule of Noncash Operating Activities |
| Three months ended
(in millions of U.S. Dollars) | September 25, 2022 |  | September 26, 2021
Lease asset and liability additions | $0.4 |  |  | $3.5 |
Lease asset and liability modifications, net | — |  |  | 2.6 |
Decrease in property, plant and equipment from long-term incentive related receivables | 22.1 |  |  | 23.2 |

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