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Debt (Tables)
 9 Months Ended
Apr. 01, 2023
Debt Disclosure [Abstract]  
Schedule of Convertible Notes
Our convertible notes consisted of the following components as of the periods presented (in millions):
Liability component:April 1, 2023July 2, 2022
2024 Notes (1)
2026 Notes (2)
2028 Notes (3)
2024 Notes (1)
2026 Notes (2)
2028 Notes (3)
Principal$448.1 $1,050.0 $861.0 $448.1 $1,050.0 $861.0 
Unamortized debt discount(20.7)— — (36.1)(214.9)(221.4)
Unamortized issuance costs(1.2)(4.4)(5.8)(2.1)(3.7)(4.9)
Net carrying amount of the liability component$426.2 $1,045.6 $855.2 $409.9 $831.4 $634.7 
(1) If the closing price of our stock exceeds $78.80 (or 130% of the conversion price of $60.62) for 20 of the last 30 trading days of any future fiscal quarter, our 2024 Notes would become convertible at the option of the holders during the next fiscal quarter. The 2024 Notes are classified as current liabilities as the debt will mature on March 15, 2024.
(2) If the closing price of our stock exceeds $129.08 (or 130% of the conversion price of $99.29) for 20 of the last 30 trading days of any future fiscal quarter, our 2026 Notes would become convertible at the option of the holders during the subsequent fiscal quarter and the debt would be reclassified to current liabilities in our condensed consolidated balance sheet.
(3) If the closing price of our stock exceeds $170.34 (or 130% of the conversion price of $131.03) for 20 of the last 30 trading days of any future fiscal quarter, our 2028 Notes would become convertible at the option of the holders during the subsequent fiscal quarter and the debt would be reclassified to current liabilities in our condensed consolidated balance sheet.
Schedule of Interest Expense
The following table sets forth interest expense information related to the convertible notes for the periods presented (in millions):
Three Months EndedNine Months Ended
April 1, 2023April 2, 2022April 1, 2023April 2, 2022
Contractual interest expense$2.7 $1.9 $8.1 $5.1 
Amortization of the debt discount and debt issuance costs6.0 17.8 17.9 48.6 
Total interest expense
$8.7 $19.7 $26.0 $53.7 
Schedule of Future Interest and Principal Payments Related to Debts
The future interest and principal payments related to our convertible notes are as follows as of April 1, 2023 (in millions):
Fiscal Years2024 Notes2026 Notes2028 NotesTotal
Remainder of 2023$— $2.6 $2.2 $4.8 
2024449.3 5.3 4.3 458.9 
2025— 5.3 4.3 9.6 
2026— 5.3 4.3 9.6 
2027 and thereafter— 1,052.5 869.6 1,922.1 
Total convertible notes payments
$449.3 $1,071.0 $884.7 $2,405.0