Financial Statement Details (Tables)

12 Months Ended

Jun. 28, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Accounts Receivable, Net

Accounts receivable, net consisted of the following: 

(in millions of U.S. Dollars)	June 28, 2020	June 30, 2019
Billed trade receivables	$111.3	$125.8
Unbilled contract receivables	1.2	0.7
Royalties	2.8	2.8
	115.3	129.3
Allowance for bad debts	(1.3)	(0.4)
Accounts receivable, net	$114.0	$128.9

Changes in the Company’s allowance for bad debts were as follows: 

	Fiscal Years Ended
(in millions of U.S. Dollars)	June 28, 2020	June 30, 2019	June 24, 2018
Balance at beginning of period	$0.4	$0.8	$1.6
Current period provision change	1.0	(0.3)	0.4
Write-offs, net of recoveries	(0.1)	(0.1)	(1.2)
Balance at end of period	$1.3	$0.4	$0.8

Schedule of Inventories

Inventories consisted of the following: 

(in millions of U.S. Dollars)	June 28, 2020	June 30, 2019
Raw material	$47.0	$42.4
Work-in-progress	95.4	101.1
Finished goods	36.7	43.9
Inventories	$179.1	$187.4

Schedule of Property and Equipment, Net

Property and equipment, net consisted of the following:

(in millions of U.S. Dollars)	June 28, 2020	June 30, 2019
Machinery and equipment	$1,139.2	$1,110.3
Land and buildings	435.4	416.5
Computer hardware/software	53.6	48.6
Furniture and fixtures	9.2	9.7
Leasehold improvements and other	10.2	4.2
Vehicles	0.9	0.9
Finance lease assets	15.4	—
Construction in progress	371.5	231.7
Property and equipment, gross	2,035.4	1,821.9
Accumulated depreciation	(1,204.3)	(1,196.7)
Property and equipment, net	$831.1	$625.2

Schedule of Accounts Payable and Accrued Expenses

Accounts payable and accrued expenses consisted of the following:

(in millions of U.S. Dollars)	June 28, 2020	June 30, 2019
Accounts payable, trade	$106.9	$90.7
Accrued salaries and wages	47.4	70.9
Accrued expenses	60.5	34.0
Other	6.0	5.3
Accounts payable and accrued expenses	$220.8	$200.9

Schedule of Accumulated Other Comprehensive Income, Net of Taxes

Accumulated other comprehensive income, net of taxes consisted of the following:

(in millions of U.S. Dollars)	June 28, 2020	June 30, 2019
Currency translation gain	$9.5	$9.5
Net unrealized gain on available-for-sale securities (1)	6.5	—
Accumulated other comprehensive income, net of taxes	$16.0	$9.5

⁽¹⁾ Amounts as of June 28, 2020 and June 30, 2019 include a $2.4 million loss related to tax on unrealized gain (loss) on available-for-sale securities.

Schedule of Other Operating Expense (Income)

The following table summarizes the components of other operating expense:

	Fiscal Years Ended
(in millions of U.S. Dollars)	June 28, 2020	June 30, 2019	June 24, 2018
Factory optimization restructuring	$8.5	$4.1	$—
Severance and other restructuring	0.6	4.2	3.8
Total restructuring costs	9.1	8.3	3.8
Project, transformation and transaction costs	25.5	16.9	8.5
Factory optimization start-up costs	9.5	1.5	—
Non-restructuring related executive severance	2.1	1.3	4.5
Other operating expense	$46.2	$28.0	$16.8

Schedule of Non-Operating Expense (Income), Net

The following table summarizes the components of non-operating (income) expense, net:

	Fiscal Years Ended
(in millions of U.S. Dollars)	June 28, 2020	June 30, 2019	June 24, 2018
(Gain) loss on sale of investments, net	($2.0)	$0.1	$0.1
(Gain) loss on equity investment	(14.2)	16.2	(7.1)
Gain on partial debt extinguishment	(11.0)	—	—
Gain on arbitration proceedings	(7.9)	—	—
Interest income	(16.4)	(14.0)	(9.1)
Interest expense	34.9	26.0	7.3
Foreign currency (gain) loss, net	(1.9)	1.3	(1.8)
Other, net	(0.5)	(0.3)	0.2
Non-operating (income) expense, net	($19.0)	$29.3	($10.4)

Schedule of Non-cash Operating Activities

Statements of Cash Flows - non-cash activities

	Twelve months ended
Non-cash operating activities	June 28, 2020	June 30, 2019	June 24, 2018
Lease asset and liability additions (1)	$31.0	$—	$—
Lease asset and liability modifications, net	4.4	—	—

⁽¹⁾ $12.2 million relates to the increase of right-of-use assets and matching lease liabilities as a result of adopting ASC 842. See Note 5, "Leases", for further information.