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Long-term Debt | 3 Months Ended
--- | ---
Sep. 28, 2025
Debt Disclosure [Abstract] |
Long-term Debt | Long-term Debt
|  | September 28, 2025(1) |  | June 29, 2025(2)
(in millions of U.S. Dollars) | Effective Interest Rate | Principal |  | Unamortized Discount |  | Net |  | Principal |  | Unamortized Discount |  | Net
1.75% Convertible Notes | 2.2 | % | $— |  |  | $— |  |  | $— |  |  | $575.0 |  |  | ($2.0) |  |  | $573.0 |
0.25% Convertible Notes | 0.6 | % | — |  |  | — |  |  | — |  |  | 750.0 |  |  | (7.9) |  |  | 742.1 |
1.875% Convertible Notes | 2.1 | % | — |  |  | — |  |  | — |  |  | 1,750.0 |  |  | (20.7) |  |  | 1,729.3 |
2030 Senior Notes | 16.3 | % | — |  |  | — |  |  | — |  |  | 1,521.2 |  |  | (52.3) |  |  | 1,468.9 |
CRD Agreement Deposits | 6.8 | % | — |  |  | — |  |  | — |  |  | 2,062.0 |  |  | (37.3) |  |  | 2,024.7 |
|  | $— |  |  | $— |  |  | $— |  |  | $6,658.2 |  |  | ($120.2) |  |  | $6,538.0 |
(1) As of September 28, 2025, amounts previously presented in Current maturity on long-term borrowings were reclassified to liabilities subject to compromise, as further described in the Recent Events section below. (2) Presented in Current maturity on long-term borrowings. Recent Events In connection with the Company's Chapter 11 Cases, the $1,857.9 million outstanding under the Existing Senior Secured Notes, the $576.7 million outstanding under the 1.75% Convertible Notes due 2026, the $750.7 million outstanding under the 0.25% Convertible Notes due 2028, the $1,769.1 million outstanding under the 1.875% Convertible Notes due 2029 (the "2029 Notes"), and the $2,127.0 million outstanding under the CRD Agreement Deposits have been reclassified from Current maturity on long-term borrowings to Liabilities subject to compromise in the accompanying unaudited consolidated balance sheet as of September 28, 2025. As of the Petition Date, the Company ceased making principal and interest payments and ceased accruing interest expense in relation to long-term debt reclassified as liabilities subject to compromise due to the stay issued by the Bankruptcy Court. For the Existing Senior Secured Notes, in accordance with the Cash Collateral Order filed on August 1, 2025, adequate protection payments have generally been recorded as a reduction of the carrying amount of the liability. As of September 28, 2025 all debt obligations classified as liabilities subject to compromise were in default due to the filing of the Chapter 11 Cases. Refer to Note 6, "Prepackaged Chapter 11 Cases," for more information on liabilities subject to compromise and the adequate protection payments. As of June 29, 2025, the Company was in default under its 2029 Notes and the unsecured Customer Refundable Deposit Agreement, dated as of July 5, 2023, with Renesas (as amended to date, the "CRD Agreement"), due to its previously announced decision to enter the 30-day grace period for the 2029 Notes interest payment due June 2, 2025. Interest Expense The interest expense, net recognized related to the corporate debt holdings and the deposits under the CRD Agreement is as follows:
|  |  | Three months ended
(in millions of U.S. Dollars) |  |  |  |  | September 28, 2025 |  | September 29, 2024
Interest expense, net of capitalized interest(1) |  |  |  |  | $— |  |  | $56.8 |
Amortization of discount and debt issuance costs, net of capitalized interest |  |  |  |  | — |  |  | 6.7 |
Total interest expense, net |  |  |  |  | $— |  |  | $63.5 |
(1): Excludes contractual interest of $99.7 million for the quarter ended September 28, 2025.
The Company capitalizes interest in connection with ongoing capacity expansions.
|  |  | Three months ended
(in millions of U.S. Dollars) |  |  |  |  | September 28, 2025 |  | September 29, 2024
Interest expense capitalized |  |  |  |  | $— |  |  | $15.9 |
Amortization of discount and debt issuance costs capitalized |  |  |  |  | — |  |  | 2.0 |
Total interest expense capitalized |  |  |  |  | $— |  |  | $17.9 |

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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