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Discontinued Operations (Tables) | 3 Months Ended
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Sep. 24, 2023
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations | The following table presents the financial results of the RF Business as loss from discontinued operations, net of income taxes in the Company's consolidated statements of operations:
|  |  | Three months ended
(in millions of U.S. Dollars) |  |  |  |  | September 24, 2023 |  | September 25, 2022
Revenue, net |  |  |  |  | $32.8 |  |  | $51.9 |
Cost of revenue, net |  |  |  |  | 37.9 |  |  | 39.7 |
Gross (loss) profit |  |  |  |  | (5.1) |  |  | 12.2 |
Operating expenses: |  |  |  |  |  |  |
Research and development |  |  |  |  | 20.3 |  |  | 14.9 |
Sales, general and administrative |  |  |  |  | 7.7 |  |  | 5.0 |
Amortization of intangibles |  |  |  |  | 1.5 |  |  | 2.4 |
Impairment on assets held for sale |  |  |  |  | 144.6 |  |  | — |
Excess loss liability on assets held for sale |  |  |  |  | 75.4 |  |  | — |
Other operating expense |  |  |  |  | 17.1 |  |  | 2.1 |
Operating loss |  |  |  |  | (271.7) |  |  | (12.2) |
Non-operating income |  |  |  |  | — |  |  | (0.2) |
Loss before income taxes |  |  |  |  | (271.7) |  |  | (12.0) |
Income tax expense |  |  |  |  | 0.4 |  |  | 0.1 |
Net loss |  |  |  |  | ($272.1) |  |  | ($12.1) |
As of September 24, 2023, the Company recorded an impairment to assets held for sale associated with the pending RF Business Divestiture of $144.6 million and an excess loss liability on assets held for sale of $75.4 million. The following table presents the assets and liabilities of the RF Business classified as discontinued operations:
(in millions of U.S. Dollars) | September 24, 2023 |  | June 25, 2023
Assets (current and long-term) |  |  |
Inventories | 35.5 |  |  | 38.7 |
Other current assets | 0.1 |  |  | 0.2 |
Property and equipment, net | 26.5 |  |  | 27.1 |
Intangible assets, net | 89.9 |  |  | 91.2 |
Other assets | 6.3 |  |  | 6.7 |
Valuation allowance on held for sale assets | (144.6) |  |  | — |
Assets held for sale from discontinued operations (1) | 13.7 |  |  | 163.9 |
Liabilities (current and long-term) |  |  |
Accounts payable and accrued expenses | 1.9 |  |  | 2.4 |
Accrued contract liabilities | 4.5 |  |  | 4.0 |
Finance lease liabilities | 0.1 |  |  | 0.1 |
Other current liabilities | 2.3 |  |  | 2.1 |
Other long-term liabilities | 4.9 |  |  | 5.3 |
Excess loss liability on held for sale assets | 75.4 |  |  | — |
Liabilities held for sale of discontinued operations (1) | 89.1 |  |  | 13.9 |
(1) Assets and liabilities of discontinued operations as of September 24, 2023 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

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