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Debt (Tables)
 12 Months Ended
Jun. 29, 2024
Debt Disclosure [Abstract]  
Schedule of Convertible Notes
June 29, 2024
2026 Notes (1)
2028 Notes (2)
2029 Notes (3)
Total
Principal$1,050.0 $861.0 $603.7 $2,514.7 
Unamortized debt discount and debt issuance costs(2.8)(4.4)(4.3)(11.5)
Net carrying amount of the liability component$1,047.2 $856.6 $599.4 $2,503.2 
July 1, 20232024 Notes
2026 Notes (1)
2028 Notes (2)
2029 Notes (3)
Total
Principal$323.1 $1,050.0 $861.0 $603.7 $2,837.8 
Unamortized debt discount and debt issuance costs(11.5)(4.1)(5.5)(5.1)(26.2)
Net carrying amount of the liability component$311.6 $1,045.9 $855.5 $598.6 $2,811.6 
(1) 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 quarter, the 2026 Notes would also become convertible at the option of the holders during the subsequent fiscal quarter and the debt would be reclassified to current liabilities in our consolidated balance sheets.
(2) 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 quarter, the 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 consolidated balance sheets.
(3) If the closing price of our stock exceeds $90.40 (or 130% of the conversion price of $69.54) for 20 of the last 30 trading days of any future quarter, the 2029 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 consolidated balance sheets.
Schedule of Interest Expense
The following table sets forth interest expense information related to our convertible notes for the periods presented (in millions):
June 29, 2024July 1, 2023July 2, 2022
Contractual interest expense$19.2 $11.2 $7.8 
Amortization of the debt discount and debt issuance costs14.6 24.3 72.4 
Total interest expense$33.8 $35.5 $80.2 
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 June 29, 2024 (in millions):
Fiscal Years2026 Notes2028 Notes2029 NotesTotal
2025$5.3 $4.3 $9.1 $18.7 
20265.3 4.39.1 18.7 
20271,052.5 4.39.1 1,065.9 
2028— 865.39.1 874.4 
2029— — 617.1 617.1 
Total payments$1,063.1 $878.2 $653.5 $2,594.8