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Financial Statement Details (Tables)

6 Months Ended

Dec. 31, 2023

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)			December 31, 2023						June 25, 2023
Billed trade receivables			$129.5						$152.1
Unbilled contract receivables			2.6						2.3
Royalties			1.1						1.1
			133.2						155.5
Allowance for bad debts			(0.6)						(0.7)
Accounts receivable, net			$132.6						$154.8

Schedule of Inventories

Inventories consisted of the following:

(in millions of U.S. Dollars)			December 31, 2023						June 25, 2023
Raw material			$110.6						$90.7
Work-in-progress			238.1						179.7
Finished goods			21.5						14.5
Inventories			$370.2						$284.9

Schedule of Other Current Assets

Other current assets consisted of the following:

(in millions of U.S. Dollars)			December 31, 2023						June 25, 2023
Reimbursement receivable on long-term incentive agreement			$116.4						$91.3
Receivables in connection with short-term investment maturities			40.0						—
Inventory related to the RF Master Supply Agreement			27.5						—
Accrued interest receivable			14.2						10.1
Short-term deposit on long-term incentive agreement			10.0						10.0
Other			20.8						20.1
Other current assets			$228.9						$131.5

Schedule of Other Noncurrent Assets

Other Assets

Other assets consisted of the following:

(in millions of U.S. Dollars)			December 31, 2023						June 25, 2023
Investment tax credit receivable			$378.4						$167.4
Right-of-use assets			95.4						98.0
Long-term advances to suppliers			36.3						8.7
Cloud computing assets, net			16.4						17.6
Other			14.6						11.6
Other assets			$541.1						$303.3

Schedule of Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consisted of the following:

(in millions of U.S. Dollars)			December 31, 2023						June 25, 2023
Accounts payable, trade			$46.1						$44.9
Accrued salaries and wages			77.9						63.9
Accrued property and equipment			368.0						328.4
Accrued expenses			32.0						97.3
Accounts payable and accrued expenses			$524.0						$534.5

Schedule of Other Operating Expense

Other operating expense consisted of the following:

			Three months ended												Six months ended
(in millions of U.S. Dollars)			December 31, 2023						December 25, 2022						December 31, 2023						December 25, 2022
Project, transformation and transaction costs			4.6						1.1						$7.2						$2.0
Executive severance costs			—						0.3						—						1.3
Restructuring costs			—						0.2						—						0.2
Other operating expense			$4.6						$1.6						$7.2						$3.5

Schedule of Non-Operating Expense (Income), Net

The following table summarizes the components of non-operating expense (income), net:

			Three months ended												Six months ended
(in millions of U.S. Dollars)			December 31, 2023						December 25, 2022						December 31, 2023						December 25, 2022
Interest income			(38.2)						(11.6)						(78.8)						(15.9)
Interest expense, net of capitalized interest			64.3						7.8						126.0						12.6
Gain on arbitration proceedings (1)			—						(0.9)						—						(50.3)
Loss on Wafer Supply Agreement			6.6						2.6						13.5						2.5
Gain on equity investment			(5.4)						—						(5.4)						—
Other, net			0.5						1.1						1.0						0.6
Non-operating expense (income), net			$27.8						($1.0)						$56.3						($50.5)

(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. In the second quarter of fiscal 2023, a final payment, net of legal fees, was received. The arbitration award is recognized as non-operating income, net of legal fees incurred.

Schedule of Noncash Operating Activities

			Six months ended
(in millions of U.S. Dollars)			December 31, 2023						December 25, 2022
Decrease in property, plant and equipment from investment tax credit receivables			$211.0						$24.3
Decrease in property, plant and equipment from long-term incentive related receivables			104.3						49.8
Proceeds on sale of business received in US corporation common stock			60.8						—
Receivables in connection with short-term investment maturities			40.0						—
Lease asset and liability additions			1.2						12.7
Lease asset and liability modifications, net			1.9						0.2
Lease terminations			(1.4)						—

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