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Balance Sheet and Other Details (Tables)

12 Months Ended

Jun. 27, 2020

Summary of Activity Related to Deferred Revenue and Financed Unearned Services Revenue

The following tables summarize the activity related to deferred revenue, for the year ended June 27, 2020 (in millions):



	June 27, 2020
Deferred revenue:
Balance at beginning of period	$	68.5
Revenue deferrals for new contracts ⁽¹⁾	107.5
Revenue recognized during the period ⁽²⁾	(101.4		)
Balance at end of period	$	74.6

Short-term deferred revenue	$	54.6
Long-term deferred revenue	$	20.0


(1)	Included in these amounts is the impact from foreign currency exchange rate fluctuations.

(2)

Revenue recognized during the period represents releases from the balance at the beginning of the period as well as releases from the following period quarter-end deferrals.

Activities and Balances for Allowance for Doubtful Accounts

The table below presents the activities and balances for allowance for doubtful accounts, as follows (in millions):



	Balance at Beginning of Period		Acquisitions (1)		Charged to Costs and Expenses			Deduction (2)			Balance at End of Period
Year Ended June 27, 2020	$	2.0	$	—	$	2.0		$	(1.0	)	$	3.0
Year Ended June 29, 2019	2.4		—		1.4			(1.8		)	2.0
Year Ended June 30, 2018	1.6		0.7		(0.4		)	0.5			2.4


(1)	See “Note 5. Acquisitions” of the Notes to Consolidated Financial Statements for detail of acquisition.

(2)

Represents the effect of currency translation adjustments and write-offs of uncollectible accounts, net of recoveries.

Schedule of Components of Inventories

The following table presents the components of inventories, net, as follows (in millions):



	June 27, 2020		June 29, 2019
Finished goods	$	30.0	$	36.7
Work in process	22.5		26.5
Raw materials	30.8		39.5
Inventories, net	$	83.3	$	102.7

Schedule of Components of Prepayments and Other Current Assets

The following table presents the components of prepayments and other current assets, as follows (in millions):



	June 27, 2020		June 29, 2019
Prepayments	$	10.9	$	14.2
Assets held for sale	2.5		2.5
Advances to contract manufacturers	7.3		5.1
Refundable income taxes	10.8		8.9
Transaction tax receivables	10.6		11.8
Other current assets	8.7		7.4
Prepayments and other current assets	$	50.8	$	49.9

Schedule of Components of Property, Plant and Equipment

The following table presents the components of property, plant and equipment, net, as follows (in millions):



	June 27, 2020			June 29, 2019
Land	$	16.8		$	20.8
Buildings and improvements	22.9			36.9
Machinery and equipment	298.5			280.0
Furniture, fixtures, software and office equipment	74.3			103.5
Leasehold improvements	66.8			56.8
Construction in progress	15.6			31.1
Property, plant and equipment, gross	494.9			529.1
Less: Accumulated depreciation and amortization	(322.4		)	(349.2		)
Property, plant and equipment, net	$	172.5		$	179.9

Schedule of Components of Other Current Liabilities

The following table presents the components of other current liabilities, as follows (in millions):



	June 27, 2020		June 29, 2019
Customer prepayments	$	0.5	$	30.2
Restructuring accrual	6.5		8.6
Income tax payable	10.7		8.5
Warranty accrual	4.6		4.7
Transaction tax payable	3.2		3.8
Operating lease liabilities (Note 12)	11.7		—
Foreign exchange forward contracts liability	1.5		4.0
Other	9.7		12.6
Other current liabilities	$	48.4	$	72.4

Schedule of Components of Other Non-current Liabilities

The following table presents the components of other non-current liabilities, as follows (in millions):



	June 27, 2020		June 29, 2019
Pension and post-employment benefits	$	102.7	$	103.2
Deferred tax liability	23.9		14.6
Financing obligation	16.2		25.5
Fair value of contingent consideration ⁽¹⁾	9.4		37.7
Long-term deferred revenue	20.0		13.2
Operating lease liabilities (Note 12)	28.1		—
Uncertain tax position	11.6		13.6
Other	19.3		18.7
Other non-current liabilities	$	231.2	$	226.5

(1)

See “Note 5. Acquisitions” and “Note 7. Investments and Forward Contracts” of the Notes to the Company’s Consolidated Financial Statements for more detail.

Schedule of Components of Interest and Other Income (Expense), Net

The following table presents the components of interest income and other income, net, as follows (in millions):



	Years Ended
	June 27, 2020			June 29, 2019			June 30, 2018
Interest income	$	7.1		$	8.1		$	16.0
Foreign exchange gains (loss), net	2.1			(2.9		)	(1.3		)
Loss on extinguishment of debt ⁽¹⁾	—			—			(5.0		)
Other income, net	0.5			1.5			0.1
Loss on sale of investments	(0.1		)	(0.5		)	(0.1		)
Interest income and other income, net	$	9.6		$	6.2		$	9.7

⁽¹⁾

In connection with the debt extinguishment, a loss of $5.0 million was recognized in fiscal 2018. Refer to “Note 11. Debt” for more information.