Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Apr. 02, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in goodwill

The following table presents our goodwill balance by reportable segments as of April 2, 2022 and July 3, 2021 (in millions):

	Optical Communications		Commercial Lasers		Total
Balance as of April 2, 2022 and July 3, 2021	$	363.5	$	5.4	$	368.9

Schedule of acquired developed technology and other intangibles

The following tables present details of our other intangibles as of the periods presented (in millions, except for weighted average remaining amortization period):

April 2, 2022	Gross Carrying Amounts		Accumulated Amortization		Net Carrying Amounts		Weighted average remaining amortization period (years)
Acquired developed technologies	$	390.3	$	(287.5)	$	102.8	2.5
Customer relationships	145.0		(70.9)		74.1		4.7
Order backlog	22.0		(22.0)		—		—
Other intangibles	2.7		(2.7)		—		—
Total intangible assets	$	560.0	$	(383.1)	$	176.9

July 3, 2021	Gross Carrying Amounts		Accumulated Amortization		Net Carrying Amounts		Weighted average remaining amortization period (years)
Acquired developed technologies	$	390.3	$	(238.6)	$	151.7	3.0
Customer relationships	145.0		(55.5)		89.5		5.4
Order backlog	22.0		(22.0)		—		—
Other intangibles	2.7		(2.7)		—		—
Total intangible assets	$	560.0	$	(318.8)	$	241.2

Schedule of amortization expense

The following table presents details of amortization for the periods presented (in millions):

	Three Months Ended				Nine Months Ended
	April 2, 2022		April 3, 2021		April 2, 2022		April 3, 2021
Cost of sales	$	15.6	$	15.8	$	47.3	$	45.8
Selling, general and administrative	5.8		6.2		17.0		17.8
Total amortization of intangibles	$	21.4	$	22.0	$	64.3	$	63.6

Schedule of estimated future amortization expense

Based on the carrying amount of our acquired developed technologies and other intangibles as of April 2, 2022, and assuming no future impairment of the underlying assets, the estimated future amortization is as follows (in millions):

Fiscal Years
Remainder of 2022	$	21.2
2023	61.9
2024	40.5
2025	27.7
2026	18.1
Thereafter	7.5
Total future amortization	$	176.9