v3.25.4

Basis of Presentation and New Accounting Standards (Tables) | 6 Months Ended
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Dec. 28, 2025
Accounting Policies [Abstract] |
Schedule of Inventories |
| Successor |  | Predecessor
(in millions of U.S. Dollars) | December 28, 2025 |  | June 29, 2025
Raw material | $128.6 |  |  | $144.5 |
Work-in-progress | 187.7 |  |  | 284.6 |
Finished goods | 3.8 |  |  | 6.3 |
Inventories, net | $320.1 |  |  | $435.4 |
Schedule of Other Current Assets |
| Successor |  | Predecessor
(in millions of U.S. Dollars) | December 28, 2025 |  | June 29, 2025
Reimbursement receivable on long-term incentive agreement | $33.2 |  |  | $33.1 |
Assets held for sale(1) | 1.9 |  |  | 24.4 |
MACOM Shares(2) | — |  |  | 102.0 |
Inventory related to the RF Master Supply Agreement | — |  |  | 15.8 |
VAT receivables | 0.6 |  |  | 9.1 |
Insurance deposit | 1.3 |  |  | 7.4 |
Accrued interest receivable | 3.3 |  |  | 5.4 |
Receivable on RF Master Supply Agreement | — |  |  | 5.3 |
Short-term deposit on long-term incentive agreement | 0.5 |  |  | 0.8 |
Short-term spares | 28.7 |  |  | — |
Other | 17.6 |  |  | 18.7 |
Other current assets | $87.1 |  |  | $222.0 |
(1): During the third quarter of fiscal 2025, the Company determined three facilities and equipment met the held-for-sale criteria under ASC Topic 360, "Property, Plant and Equipment," ("ASC 360") of which two were sold during the fourth quarter of fiscal 2025 and one was sold during the second quarter of fiscal 2026. 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. The remaining balance is equipment that meets the held-for-sale criteria under ASC 360.
(2): Refer to Note 4, "Discontinued Operations," and Note 9, "Fair Value of Financial Instruments," to the consolidated financial statements included herein for additional information.
Schedule of Other Assets |
| Successor |  | Predecessor
(in millions of U.S. Dollars) | December 28, 2025 |  | June 29, 2025
Right-of-use assets | $97.5 |  |  | $123.1 |
Long-term advances to suppliers | 71.0 |  |  | 69.8 |
Long-term deposits | 6.9 |  |  | 24.3 |
Cloud computing assets, net | 24.3 |  |  | 10.4 |
Other | 6.2 |  |  | 39.3 |
Other assets | $205.9 |  |  | $266.9 |
Schedule of Accounts Payable and Accrued Expenses |
| Successor |  | Predecessor
(in millions of U.S. Dollars) | December 28, 2025 |  | June 29, 2025
Accounts payable, trade | $33.5 |  |  | $30.6 |
Accrued property and equipment | 38.9 |  |  | 124.7 |
Accrued salaries and wages | 50.4 |  |  | 79.2 |
Accrued expenses | 37.6 |  |  | 45.7 |
Accounts payable and accrued expenses | $160.4 |  |  | $280.2 |
Schedule of Other Current Liabilities |
| Successor |  | Predecessor
(in millions of U.S. Dollars) | December 28, 2025 |  | June 29, 2025
Accrued interest | $3.3 |  |  | $90.7 |
RF supply agreement liabilities(1) | 13.2 |  |  | 76.9 |
Other | 42.3 |  |  | 52.9 |
Other current liabilities | $58.8 |  |  | $220.5 |
(1): Refer to Note 4, "Discontinued Operations," to the consolidated financial statements included herein for additional information.
Schedule of Other Long-term Liabilities |
| Successor |  | Predecessor
(in millions of U.S. Dollars) | December 28, 2025 |  | June 29, 2025
Long-term lease liabilities | $100.1 |  |  | $139.5 |
Long-term RF supply agreement liabilities(1) | 53.4 |  |  | 44.5 |
Deferred AMIC | 44.6 |  |  | — |
Long-term customer deposits | 15.6 |  |  | 15.6 |
Other | 4.7 |  |  | 3.5 |
Other long-term liabilities | $218.4 |  |  | $203.1 |
(1): Refer to Note 4, "Discontinued Operations," to the consolidated financial statements included herein for additional information.
Schedule of Other Operating Expense |
| Successor | Predecessor |  |  |  |  |  |  |
| Period from September 30, 2025 to December 28, 2025 | September 29, 2025 | Three months ended |  |  |
(in millions of U.S. Dollars) | December 29, 2024 |  |  |  |  |  |  |
Restructuring and other exit costs | 9.6 |  | $— |  | $156.7 |  |  |  |  |  |  |  |
Executive severance costs | — |  |  | 1.4 |  |  |  |  |  |  |  |
Project, transformation and transaction costs | 14.1 |  | — |  | 7.8 |  |  |  |  |  |  |  |
Amortization or impairment of fresh start accounting and acquisition-related intangibles | 4.0 |  | — |  | 0.3 |  |  |  |  |  |  |  |
Other | 0.5 |  | — |  | 2.1 |  |  |  |  |  |  |  |
Restructuring and other expenses | $28.2 |  | $— |  | $168.3 |  |  |  |  |  |  |  |
| Successor | Predecessor |  |  |  |
(in millions of U.S. Dollars) | Period from September 30, 2025 to December 28, 2025 | Period from June 30, 2025 to September 29, 2025 | Six months ended December 29, 2024 |  |
Restructuring and other exit costs | 9.6 |  | $3.7 |  | $209.5 |  |  |  |  |
Executive severance costs | — |  | — |  | 1.4 |  |  |  |  |
Project, transformation and transaction costs | 14.1 |  | 13.8 |  | 13.8 |  |  |  |  |
Amortization or impairment of fresh start accounting and acquisition-related intangibles | 4.0 |  | — |  | 0.6 |  |  |  |  |
Other | 0.5 |  | 2.9 |  | 4.1 |  |  |  |  |
Restructuring and other expenses | $28.2 |  | $20.4 |  | $229.4 |  |  |  |  |
Schedule of Non-Operating Income, Net |
| Successor | Predecessor
(in millions of U.S. Dollars) | Period from September 30, 2025 to December 28, 2025 | September 29, 2025 | Three months ended December 29, 2024
Changes in fair value of liability classified derivative contracts | (59.1) |  | — |  | — |
Interest income | (9.6) |  | — |  | (17.0) |
Realized gain on MACOM Shares | — |  | — |  | (15.7) |
Other, net | 1.7 |  | — |  | 1.5 |
Non-operating income, net | ($67.0) |  | $— |  | ($31.2) |
| Successor | Predecessor
(in millions of U.S. Dollars) | Period from September 30, 2025 to December 28, 2025 | Period from June 30, 2025 to September 29, 2025 | Six months ended December 29, 2024
Changes in fair value of liability classified derivative contracts | (59.1) |  | — |  | — |
Interest income | (9.6) |  | (8.9) |  | (39.2) |
Loss (gain) on Wafer Supply Agreement | — |  | — |  | 9.2 |
Gain on RTP Fab Transfer | — |  | (25.4) |  | — |
Realized loss (gain) on MACOM Shares | — |  | 10.9 |  | (15.7) |
Other, net | 1.7 |  | 1.0 |  | 1.7 |
Non-operating income, net | ($67.0) |  | ($22.4) |  | ($44.0) |
Schedule of Noncash Operating Activities |
| Successor | Predecessor
(in millions of U.S. Dollars) | Period from September 30, 2025 to December 28, 2025 | Period from June 30, 2025 to September 29, 2025 | Six months ended December 29, 2024
Decrease in property, plant and equipment from investment tax credit receivables | $0.8 |  | $76.8 |  | $223.3 |
Lease asset and liability additions | 0.8 |  | 19.1 |  | 25.0 |
Lease asset and liability modifications, net | (0.2) |  | (0.2) |  | 2.6 |
Lease termination | (5.0) |  | (0.1) |  | — |
(Decrease) increase in accrued property, plant and equipment | (3.4) |  | (82.4) |  | (111.4) |
Commitment fee payable for 2030 Senior Notes | — |  | — |  | 29.3 |
Fees payable in connection with at-the-market program | — |  | — |  | 2.4 |

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