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Financial Statement Details (Tables)

3 Months Ended

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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