v3.25.4

Restructuring (Tables)

6 Months Ended

Dec. 28, 2025

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Exit And Disposal Costs Associated With The Operational Plan

A summary of the charges recognized in the consolidated statements of operations through the second quarter of fiscal 2026 and fiscal 2025, respectively, resulting from these restructuring activities is shown below:

			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
Accelerated depreciation			$—			$—			$11.7
Inventory write-down/scrap			9.1			—			—
Other closure-related costs			5.9			—			19.7
Total cost of revenue, net			$15.0			$—			$31.4
Impairments on abandoned assets			$0.1			$—			$124.5
Severance(1)			0.6			—			15.0
Accelerated depreciation (2)			—			—			5.7
Contract termination costs			—			—			—
Other closure-related costs			0.9			—			11.5
Other operating expense			$1.6			$—			$156.7
Total			$16.6			$—			$188.1

			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
Accelerated depreciation			$—			$5.6			$23.4
Inventory write-down/scrap			9.1			2.5			—
Other closure-related costs			5.9			10.0			42.3
Total cost of revenue, net			$15.0			$18.1			$65.7
Impairments on abandoned assets			$0.1			$0.1			$124.5
Severance(1)			0.6			0.1			51.5
Accelerated depreciation (2)			—			—			12.8
Contract termination costs			—			2.3			—
Other closure-related costs			0.9			1.2			20.7
Other operating expense			$1.6			$3.7			$209.5
Total			$16.6			$21.8			$275.2

(1)Employee severance and benefit costs include the early exit program activity

(2) Includes net impact of change in salvage value and estimated useful life related to 150mm fab tooling and equipment

A summary of the balance sheet activity related to these restructuring activities recognized in accounts payable and accrued expenses in the unaudited consolidated balance sheet as of December 28, 2025 follows:

			Predecessor												Successor
(in millions of U.S. Dollars)			As of June 29, 2025						Charges			Usage			December 28, 2025
Employee severance and benefit costs(1)			$25.2						$0.8			($17.8)			$8.2
Contract termination liability			5.5						2.3			(3.3)			4.5
Total			$30.7						$3.1			($21.1)			$12.7

(1)Employee severance and benefit costs includes the early exit program activity

A summary of the charges recognized in the consolidated statements of operations through the second quarter of fiscal 2026 resulting from these restructuring activities is shown below:

Successor

(in millions of U.S. Dollars)

Period from September 30, 2025 to December 28, 2025

Severance(1)

8.0

Other operating expense

$8.0

(1)Employee severance and benefit costs include the early exit program activity

A summary of the balance sheet activity related to these restructuring activities recognized in accounts payable and accrued expenses in the unaudited consolidated balance sheet as of December 28, 2025 follows:

			Predecessor												Successor
(in millions of U.S. Dollars)			As of June 29, 2025						Charges			Usage			December 28, 2025
Employee severance and benefit costs(1)			$—						$8.0			($3.1)			$4.9
Total			$—						$8.0			($3.1)			$4.9

(1)Employee severance and benefit costs includes the early exit program activity

X

- References

No definition available.

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- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4.b.2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

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