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Fair Value of Financial Instruments

3 Months Ended

Sep. 28, 2025

The Company did not have any financial assets requiring the use of Level 3 inputs as of September 28, 2025. There were no transfers between Level 1 and Level 2 during the fiscal year ended September 28, 2025.

The following table sets forth financial instruments carried at fair value within the U.S. GAAP hierarchy:


	Estimated fair value
(in millions of U.S. Dollars)	Fair value hierarchy	September 28, 2025	June 29, 2025
Assets:
Money market funds	1	$4.1	$61.8
U.S. treasury securities	1	207.3	224.6
MACOM Shares	1	—	102.0
Municipal bonds	2	61.6	79.2
Corporate bonds	2	135.5	196.8

Commercial paper	2	20.0	28.3
Certificates of deposit	2	$5.0	$5.0

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

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+ Details