Revenue Recognition

9 Months Ended

Apr. 02, 2022

Revenue Recognition and Deferred Revenue [Abstract]

Revenue Recognition

Note 16. Revenue Recognition

Disaggregation of Revenue

We disaggregate revenue by product and by geography. We do not present other levels of disaggregation, such as by type of products, customer, markets, contracts, duration of contracts, timing of transfer of control and sales channels, as this information is not used by our CODM to manage the business.

The table below discloses our total net revenue attributable to each of our two reportable segments. In addition, the table sets forth the percentage of our total net revenue attributable to our product offerings which serve Telecom and Datacom, and Consumer and Industrial markets which accounted for 10% or more of our total net revenue during the periods presented (in millions, except percentage data):

	Three Months Ended								Nine Months Ended
	April 2, 2022				April 3, 2021				April 2, 2022				April 3, 2021
OpComms:
Telecom and Datacom	$	243.5	61.6	%	$	255.8	61.0	%	$	726.6	56.3	%	$	803.3	59.5	%
Industrial and Consumer	100.7		25.5		132.1		31.5	%	421.0		32.6		462.2		34.2	%
Total OpComms	$	344.2	87.1	%	$	387.9	92.5	%	$	1,147.6	88.9	%	$	1,265.5	93.7	%
Lasers	51.2		12.9	%	31.6		7.5	%	142.9		11.1		85.2		6.3
Net Revenue	$	395.4			$	419.5			$	1,290.5			$	1,350.7

Contract Balances

The following table reflects the changes in contract balances for the periods presented (in millions, except percentages):

Contract balances	Balance sheet location	April 2, 2022		July 3, 2021		Change		Percentage Change
Accounts receivable, net	Accounts receivable, net	$	242.2	$	212.8	$	29.4	13.8	%
Deferred revenue and customer deposits	Other current liabilities	$	—	$	0.6	$	(0.6)	(100.0)	%