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Discontinued Operations (Tables)
 3 Months Ended
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, 2023September 25, 2022
Revenue, net$32.8 $51.9 
Cost of revenue, net37.9 39.7 
Gross (loss) profit(5.1)12.2 
Operating expenses:
Research and development20.3 14.9 
Sales, general and administrative7.7 5.0 
Amortization of intangibles1.5 2.4 
Impairment on assets held for sale144.6 — 
Excess loss liability on assets held for sale75.4 — 
Other operating expense17.1 2.1 
Operating loss(271.7)(12.2)
Non-operating income— (0.2)
Loss before income taxes(271.7)(12.0)
Income tax expense0.4 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, 2023June 25, 2023
Assets (current and long-term)
Inventories35.5 38.7 
Other current assets0.1 0.2 
Property and equipment, net26.5 27.1 
Intangible assets, net89.9 91.2 
Other assets6.3 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 expenses1.9 2.4 
Accrued contract liabilities4.5 4.0 
Finance lease liabilities0.1 0.1 
Other current liabilities2.3 2.1 
Other long-term liabilities4.9 5.3 
Excess loss liability on held for sale assets75.4 — 
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