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Employee Pension and Other Benefit Plans (Tables)
 12 Months Ended
Jun. 27, 2020
Retirement Benefits [Abstract]  
Schedule of Net Periodic Cost
The following table presents the components of the net periodic benefit cost for the pension and benefits plans (in millions):
 
Years Ended
 
June 27, 2020
 
June 29, 2019
 
June 30, 2018
Service cost
$
0.3

 
$
0.2

 
$
0.2

Interest cost
1.9

 
2.5

 
2.7

Expected return on plan assets
(1.5
)
 
(1.6
)
 
(1.5
)
Recognized net actuarial losses
2.8

 
1.8

 
1.5

Net periodic cost
$
3.5

 
$
2.9

 
$
2.9
Schedule of Changes in Benefit Obligations and Plan Assets The changes in the benefit obligations and plan assets of the pension and benefits plans were (in millions):
 
Pension Benefit Plans
 
June 27, 2020
 
June 29, 2019
Change in benefit obligation
 
 
 
Benefit obligation at beginning of year
$
140.0

 
$
136.7

Service cost
0.3

 
0.2

Interest cost
1.9

 
2.5

Actuarial (gains) losses
4.6

 
10.0

Benefits paid
(5.1
)
 
(5.4
)
Assumed benefit obligation from acquisition
—

 
—

Foreign exchange impact
(2.8
)
 
(4.0
)
Benefit obligation at end of year
$
138.9

 
$
140.0

Change in plan assets
 
 
 
Fair value of plan assets at beginning of year
$
29.9

 
$
30.0

Actual return on plan assets
0.2

 
1.4

Employer contributions
4.8

 
5.1

Benefits paid
(5.0
)
 
(5.4
)
Foreign exchange impact
(0.9
)
 
(1.2
)
Fair value of plan assets at end of year
$
29.0

 
$
29.9

Funded status
$
(109.9
)
 
$
(110.1
)
Accumulated benefit obligation
$
138.6

 
$
139.7
Schedule of Defined Benefit Plan Amounts Recognized by Financial Statement Location
 
Pension Benefit Plans
 
June 27, 2020
 
June 29, 2019
Amount recognized in the Consolidated Balance Sheets at end of year:
 
 
 
Current liabilities
$
7.6

 
$
7.3

Non-current liabilities
102.3

 
102.8

Net amount recognized at end of year
$
109.9


$
110.1

Amount recognized in accumulated other comprehensive (loss) income at end of year:
 
 
 
Actuarial losses, net of tax
$
(31.2
)
 
$
(28.6
)
Net amount recognized at end of year
$
(31.2
)

$
(28.6
)
Other changes in plan assets and benefit obligations recognized in other comprehensive (loss) income:
 
 
 
Net actuarial gain (loss)
$
(5.4
)
 
$
(7.3
)
Amortization of accumulated net actuarial losses
2.8

 
1.8

Total recognized in other comprehensive (loss) income
$
(2.6
)

$
(5.5
)
Schedule of Net Periodic Cost and Benefit Obligation Assumptions Used
The following table summarizes the weighted average assumptions used to determine net periodic cost and benefit obligation for the Company’s U.K. and German pension plans:
 
Pension Benefit Plans
 
June 27, 2020
 
June 29, 2019
 
June 30, 2018
Used to determine net period cost at end of year:
 
 
 
 
 
Discount rate
1.1
%
 
1.4
%
 
1.9
%
Expected long-term return on plan assets
5.6

 
5.6

 
5.7

Rate of pension increase
2.3

 
2.3

 
2.3

 
 
 
 
 
 
Used to determine benefit obligation at end of year:
 
 
 
 
 
Discount rate
1.0
%
 
1.4
%
 
1.9
%
Rate of pension increase
2.2

 
2.3

 
2.3
Schedule of Percentage of Asset Allocations and Plan Assets at Fair Value
The following table sets forth the plan assets at fair value and the percentage of assets allocations as of June 27, 2020 (in millions, except percentage data):
 
 
 
 
 
 
 
Fair value measurement as of
 
 
 
 
 
 
 
June 27, 2020
 
Target Allocation
 
Total
 
Percentage of Plan Assets
 
Level 1
 
Level 2
Assets:
 
 
 
 
 
 
 
 
 
Global equity
40
%
 
$
11.6

 
40.0
%
 
$
—

 
$
11.6

Fixed income
40
%
 
10.9

 
37.6
%
 
—

 
10.9

Other
20
%
 
6.4

 
22.1
%
 
—

 
6.4

Cash
 
 
0.1

 
0.3
%
 
0.1

 
—

Total assets
 
 
$
29.0

 
100.0
%
 
$
0.1

 
$
28.9

The following table sets forth the plan’s assets at fair value and the percentage of assets allocations as of June 29, 2019 (in millions, except percentage data).
 
 
 
 
 
 
 
Fair value measurement as of
 
 
 
 
 
 
 
June 29, 2019
 
Target Allocation
 
Total
 
Percentage of Plan Assets
 
Level 1
 
Level 2
Assets:
 
 
 
 
 
 
 
 
 
Global equity
40
%
 
$
11.6

 
38.8
%
 
$
—

 
$
11.6

Fixed income
40
%
 
11.5

 
38.5
%
 
—

 
11.5

Other
20
%
 
6.7

 
22.4
%
 
—

 
6.7

Cash
 
 
0.1

 
0.3
%
 
0.1

 
—

Total assets
 
 
$
29.9

 
100.0
%
 
$
0.1

 
$
29.8
Schedule of Total Expected Benefit Payments
The following table reflects the total expected benefit payments to defined benefit pension plan participants. These payments have been estimated based on the same assumptions used to measure the Company’s PBO at fiscal year end and include benefits attributable to estimated future compensation increases (in millions).
 
Pension Benefit Plans
2021
$
8.6

2022
6.0

2023
6.7

2024
6.1

2025
5.9

2026 - 2030
26.5

Thereafter
50.1

Total
$
109.9