Business Combinations (Tables)

12 Months Ended

Jul. 03, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of business acquisitions

The total fair value of consideration given in connection with the acquisition of Oclaro consisted of the following:

	Shares	Per Share		Total Consideration (in millions)
Cash paid for outstanding Oclaro common stock				$	964.8
Lumentum common shares issued to Oclaro stockholders	10,941,436	$	41.80	457.4
Replacement equity awards for Oclaro equity awards				2.7
Total consideration				$	1,424.9

The final purchase price allocation is as follows (in millions):

	Final As Adjusted June 29, 2019
Cash and cash equivalents	$	345.0
Accounts receivable, net	68.0
Inventories	155.0
Prepayments and other current assets	33.7
Property, plant and equipment, net	134.7
Intangibles	444.0
Deferred income tax asset	42.6
Other non-current assets	16.6
Accounts payable	(57.8)
Accrued payroll and related expenses	(11.4)
Accrued expenses	(8.3)
Other current liabilities	(6.1)
Deferred tax liability	(75.8)
Other non-current liabilities	(12.9)
Goodwill	357.6
Total purchase price	$	1,424.9

Schedule pro forma financial information

The unaudited supplemental pro forma financial information for the periods presented is as follows (in millions):

	Year Ended
	June 29, 2019
Net revenue	$	1,779.4
Net income	21.5