v3.25.4

Intangible Assets | 6 Months Ended
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Dec. 28, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | Intangible Assets The following table presents the components of intangible assets, net:
| Successor |  | Predecessor
| December 28, 2025 |  | June 29, 2025
(in millions of U.S. Dollars) | Gross |  | Accumulated Amortization |  | Net |  | Gross |  | Accumulated Amortization |  | Net
Intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer relationships | $120.0 |  |  | ($3.3) |  |  | $116.7 |  |  | $— |  |  | $— |  |  | $— |
Developed technology | 240.0 |  |  | (10.4) |  |  | 229.6 |  |  | — |  |  | — |  |  | — |
Trade names | 28.0 |  |  | (0.6) |  |  | 27.4 |  |  | — |  |  | — |  |  | — |
Fresh start accounting-related intangible assets | $388.0 |  |  | ($14.3) |  |  | $373.7 |  |  | $— |  |  | $— |  |  | $— |
Patent and licensing rights | 58.3 |  |  | (5.2) |  |  | 53.1 |  |  | 50.5 |  |  | (26.7) |  |  | 23.8 |
Total intangible assets | $446.3 |  |  | ($19.5) |  |  | $426.8 |  |  | $50.5 |  |  | ($26.7) |  |  | $23.8 |
Customer relationships, developed technology, and trade names are amortized over their useful lives, which generally range from 5 to 11 years. Patents are amortized using the straight-line method over their estimated period of benefit, which generally range from 0.5 to 23 years. Total intangible assets amortization expenses were $1.0 million, $0.0 million and $19.5 million for the period from June 30, 2025 to September 29, 2025, the period of September 29, 2025 and for the period from September 30, 2025 to December 28, 2025, respectively, and $2.7 million and $4.0 million for the three and six months ended December 29, 2024, respectively. Estimated amortization expense for intangible assets with finite lives for each of the next five years and thereafter is as follows:
|  |  |  |  | At Quarter End
Fiscal Year Ending | Customer Relationships | Developed Technology | Trade Names | Patents | December 28, 2025
June 28, 2026 (remainder fiscal 2026) | 6.7 |  | 20.8 |  | 1.5 |  | 8.4 |  | 37.4 |
June 27, 2027 | 13.3 |  | 41.7 |  | 2.9 |  | 10.4 |  | 68.3 |
June 25, 2028 | 13.3 |  | 41.7 |  | 2.8 |  | 7.2 |  | 65.0 |
June 24, 2029 | 13.3 |  | 41.7 |  | 2.8 |  | 5.7 |  | 63.5 |
June 23, 2030 | 13.3 |  | 41.7 |  | 2.8 |  | 4.2 |  | 62.0 |
Thereafter | 56.8 |  | 42.0 |  | 14.6 |  | 17.2 |  | 130.6 |
Total future amortization expense | 116.7 |  | 229.6 |  | 27.4 |  | 53.1 |  | 426.8 |

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