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Debt (Tables)
 6 Months Ended
Dec. 28, 2024
Debt Disclosure [Abstract]  
Schedule of Convertible Notes
Our convertible notes consisted of the following components as of the periods presented (in millions):
December 28, 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(2.3)(3.9)(3.8)(10.0)
Net carrying amount of the liability component$1,047.7 $857.1 $599.9 $2,504.7 
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 
(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 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.
(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 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.
(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, our 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 the convertible notes for the periods presented (in millions):
Three Months EndedSix Months Ended
December 28, 2024December 30, 2023December 28, 2024December 30, 2023
Contractual interest expense$4.6 $4.9 $9.3 $9.7 
Amortization of the debt discount and debt issuance costs0.8 4.8 1.5 9.7 
Total interest expense
$5.4 $9.7 $10.8 $19.4 
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 December 28, 2024 (in millions):
Fiscal Years2026 Notes2028 Notes2029 NotesTotal
2025$2.7 $2.2 $4.6 $9.5 
20265.3 4.3 9.1 18.7 
20271,052.5 4.3 9.1 1,065.9 
2028— 865.3 9.1 874.4 
2029— — 617.1 617.1 
Total payments$1,060.5 $876.1 $649.0 $2,585.6