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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jun. 29, 2025
Jun. 30, 2024
Current assets:    
Cash and cash equivalents $ 467.2 $ 1,045.9
Short-term investments 488.2 1,128.7
Total cash, cash equivalents and short-term investments 955.4 2,174.6
Accounts receivable, net 178.8 147.4
Inventories 435.4 440.7
Investment tax credit receivable 653.4 0.0
Prepaid expenses 97.2 56.6
Other current assets 222.0 180.3
Total current assets 2,542.2 2,999.6
Property and equipment, net 3,916.5 3,652.3
Goodwill 0.0 359.2
Intangible assets, net 23.8 23.9
Long-term receivables 2.0 2.3
Other long-term investments 0.0 79.3
Deferred tax assets 1.1 1.1
Long-term investment tax credit receivable 105.0 641.8
Other assets 263.8 225.1
Total assets 6,854.4 7,984.6
Current liabilities:    
Accounts payable and accrued expenses 280.2 523.6
Contract liabilities and distributor-related reserves 50.0 62.3
Income taxes payable 0.8 1.0
Finance lease liabilities 0.5 0.5
Current maturity on long-term borrowings 6,538.0 0.0
Other current liabilities 220.5 77.9
Total current liabilities 7,090.0 665.3
Long-term liabilities:    
Long-term debt 0.0 3,126.2
Convertible notes, net 0.0 3,034.9
Deferred tax liabilities 0.5 10.8
Finance lease liabilities - long-term 8.4 8.9
Other long-term liabilities 202.6 256.4
Total long-term liabilities 211.5 6,437.2
Commitments and contingencies
Shareholders’ equity:    
Preferred stock, par value $0.01; 3,000 shares authorized at June 29, 2025 and June 30, 2024; none issued and outstanding 0.0 0.0
Common stock, par value $0.00125; 400,000 shares authorized at June 29, 2025 and 400,000 shares authorized at June 30, 2024; 155,643 and 126,409 shares issued and outstanding at June 29, 2025 and June 30, 2024, respectively 0.2 0.2
Additional paid-in-capital 4,094.1 3,821.9
Accumulated other comprehensive loss (3.8) (11.6)
Accumulated deficit (4,537.6) (2,928.4)
Total shareholders’ equity (447.1) 882.1
Total liabilities and shareholders’ equity $ 6,854.4 $ 7,984.6