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v3.25.1

Basis of Presentation and New Accounting Standards (Tables) | 9 Months Ended
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Mar. 30, 2025
Accounting Policies [Abstract] |
Schedule of Accounts Receivable, Net |
(in millions of U.S. Dollars) | March 30, 2025 |  | June 30, 2024
Billed trade receivables | $161.4 |  |  | $143.3 |
Unbilled contract receivables | 2.4 |  |  | 3.5 |
Royalties | 1.5 |  |  | 1.3 |
| 165.3 |  |  | 148.1 |
Allowance for bad debts | (0.7) |  |  | (0.7) |
Accounts receivable, net | $164.6 |  |  | $147.4 |
Schedule of Inventories |
(in millions of U.S. Dollars) | March 30, 2025 |  | June 30, 2024
Raw material | $150.9 |  |  | $138.7 |
Work-in-progress | 304.3 |  |  | 290.5 |
Finished goods | 3.9 |  |  | 11.5 |
Inventories | $459.1 |  |  | $440.7 |
Schedule of Other Current Assets |
(in millions of U.S. Dollars) | March 30, 2025 |  | June 30, 2024
Reimbursement receivable on long-term incentive agreement | $33.1 |  |  | $85.8 |
Assets held for sale(1) | 83.2 |  |  | — |
MACOM Shares(2) | 70.1 |  |  | — |
Other | 63.1 |  |  | 94.5 |
Other current assets | $249.5 |  |  | $180.3 |
(1): During the third quarter of fiscal 2025, the Company determined three facilities met the held-for-sale criteria under Accounting Standards Codification (ASC) 360. The assets included in each of the disposal groups were measured at the lower of their carrying value or fair value less costs to sell.
(2): Refer to Note 2, "Discontinued Operations," and Note 7, "Fair Value of Financial Instruments," to the consolidated financial statements included herein for additional information.
Schedule of Accounts Payable and Accrued Expenses |
(in millions of U.S. Dollars) | March 30, 2025 |  | June 30, 2024
Accounts payable, trade | $59.3 |  |  | $53.0 |
Accrued property and equipment | 219.4 |  |  | 366.0 |
Accrued salaries and wages | 72.3 |  |  | 64.2 |
Accrued expenses | 41.6 |  |  | 40.4 |
Accounts payable and accrued expenses | $392.6 |  |  | $523.6 |
Schedule of Other Current Liabilities |
(in millions of U.S. Dollars) | March 30, 2025 |  | June 30, 2024
Accrued interest | $51.8 |  |  | $7.3 |
RF Supply Agreement Liabilities(1) | 75.6 |  |  | 47.0 |
Other | 52.3 |  |  | 23.6 |
Other current liabilities | $179.7 |  |  | $77.9 |
(1): Refer to Note 2, "Discontinued Operations," to the consolidated financial statements included herein for additional information.
Schedule of Other Operating Expense |
| Three months ended |  | Nine months ended |
(in millions of U.S. Dollars) | March 30, 2025 |  | March 31, 2024 |  | March 30, 2025 | March 31, 2024 |  |  |  |
Legal settlements | $17.0 |  |  | — |  |  | $17.0 |  | — |  |  |  |  |
Restructuring and other exit costs | 10.0 |  |  | $— |  |  | $95.0 |  | $— |  |  |  |  |
Executive severance costs | — |  |  | — |  |  | 1.4 |  | — |  |  |  |  |
Project, transformation and transaction costs | 6.8 |  |  | 5.3 |  |  | 20.6 |  | 12.5 |  |  |  |  |
Other | — |  |  | — |  |  | 1.4 |  | — |  |  |  |  |
Other operating expense | $33.8 |  |  | $5.3 |  |  | $135.4 |  | $12.5 |  |  |  |  |
Schedule of Non-Operating Expense (Income), Net |
| Three months ended |  | Nine months ended |
(in millions of U.S. Dollars) | March 30, 2025 |  | March 31, 2024 |  | March 30, 2025 |  | March 31, 2024 |  |  |  |
Interest income | (19.4) |  |  | (30.1) |  |  | (58.6) |  |  | (108.9) |  |  |  |  |
Interest expense, net of capitalized interest | 85.4 |  |  | 59.5 |  |  | 230.4 |  |  | 185.5 |  |  |  |  |
Loss on customs matter(1) | — |  |  | 7.7 |  |  | — |  |  | 7.7 |  |  |  |  |
Loss on Wafer Supply Agreement | — |  |  | 6.9 |  |  | 9.2 |  |  | 20.4 |  |  |  |  |
Unrealized loss (gain) on equity investment | 24.9 |  |  | (1.9) |  |  | 9.2 |  |  | (7.3) |  |  |  |  |
Other, net | — |  |  | 0.3 |  |  | 1.7 |  |  | 1.3 |  |  |  |  |
Non-operating expense, net | $90.9 |  |  | $42.4 |  |  | $191.9 |  |  | $98.7 |  |  |  |  |
(1) In the third quarter of fiscal 2024, the Company accrued a liability for payment of customs duties totaling approximately $7.7 million for alleged undervalued duties related to transactions by the Company's former Lighting Products business unit from 2012 to 2017.
Schedule of Noncash Operating Activities |
| Nine months ended
(in millions of U.S. Dollars) | March 30, 2025 |  | March 31, 2024
Decrease in property, plant and equipment from investment tax credit receivables | $264.5 |  |  | $348.0 |
Decrease in property, plant and equipment from long-term incentive related receivables | — |  |  | 107.3 |
Proceeds on sale of business received in U.S. corporation common stock | — |  |  | 60.8 |
Receivables in connection with short-term investment maturities | — |  |  | 15.0 |
Decrease in property, plant and equipment from insurance receivable | — |  |  | 2.2 |
Lease asset and liability additions | 35.2 |  |  | 1.8 |
Lease asset and liability modifications, net | 2.9 |  |  | 0.9 |
Lease asset impairment | (4.8) |  |  | — |
Commitment fee payable for 2030 Senior Notes | 15.2 |  |  | — |

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