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Derivative Liability (Tables)
 9 Months Ended
Apr. 02, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Reconciliation of fair value of embedded derivative for Series A preferred stock
The following table provides a reconciliation of the fair value of the embedded derivative for the Series A Preferred Stock measured by significant unobservable inputs (Level 3) for the three and nine months ended April 2, 2016:
 
Three Months Ended
 
Nine Months Ended
 
April 2, 2016
 
March 28, 2015
 
April 2, 2016
 
March 28, 2015
Balance as of beginning of period
$
9.9

 
$
—

 
$
—

 
$
—

Fair value of the embedded derivative for the Series A Preferred Stock at issuance
—

 
—

 
9.7

 
—

Unrealized loss included in net income
4.8

 
—

 
5.0

 
—

Balance as of end of period
$
14.7

 
$
—

 
$
14.7

 
$
—

The following table summarizes the assumptions used to determine the fair value of the embedded derivative:
 
April 2, 2016
Stock price
$
26.58

Conversion price
$
24.63

Expected term (years)
4.36

Expected annual volatility
40.00
%
Risk-free rate
1.25
%
Expected common dividend yield
—
%
Preferred yield
9.12
%