Recently Issued Accounting Pronouncements (Tables)

3 Months Ended

Sep. 29, 2018

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The following table presents the impact of the revenue standard adoption to select line items of our Consolidated Balance Sheet as of June 30, 2018, (in millions) as follows:

	June 30, 2018
	As Reported		Adjustment			As Adjusted
ASSETS
Accounts receivable, net	$	217.5	$	1.1		$	218.6
Prepayments and other assets	54.8		1.5			56.3
Deferred income taxes	114.5		(0.2		)	114.3
Other non-current assets	13.6		1.8			15.4
Total assets	$	2,022.6	$	4.2		$	2,026.8
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deferred revenue	71.9		(11.3		)	60.6
Accrued payroll and related expenses	51.4		1.4			52.8
Other current liabilities	77.0		1.9			78.9
Other non-current liabilities	182.8		(2.0		)	180.8
Total stockholders’ equity	720.7		14.2			734.9
Total liabilities and stockholders’ equity	$	2,022.6	$	4.2		$	2,026.8

(in millions, except per share data) as follows:

	Three Months Ended September 30, 2017
	As Reported			Adjustment			As Adjusted
Revenues:
Product revenue	$	171.9		$	(6.8	)	$	165.1
Service revenue	23.3			2.5			25.8
Total net revenue	195.2			(4.3		)	190.9
Cost of revenues:
Product cost of revenue	63.5			(0.9		)	62.6
Service cost of revenue	11.4			0.1			11.5
Amortization of acquired technologies	4.1			—			4.1
Total cost of revenue	79.0			(0.8		)	78.2
Gross profit	116.2			(3.5		)	112.7
Income from operations	10.0			(3.3		)	6.7
Loss before taxes	(2.3		)	(3.3		)	(5.6		)
Provision for income taxes	2.5			(0.5		)	2.0
Net loss	$	(4.8	)	$	(2.8	)	$	(7.6	)
Net loss per common share:
Basic and diluted	$	(0.02	)	$	(0.01	)	$	(0.03	)
Shares used in per share calculations:
Basic and diluted	228.1			—			228.1