XML 44 R33.htm IDEA: XBRL DOCUMENT v3.20.2
Fair Value Measurements (Tables)
 3 Months Ended
Oct. 03, 2020
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value
The Company’s assets and liabilities measured at fair value for the periods presented are as follows (in millions):
 
October 3, 2020
 
June 27, 2020
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
Assets:
 

 
 

 
 

 
 
 
 

 
 

 
 

 
 
Debt available-for-sale securities:
 

 
 

 
 

 
 
 
 

 
 

 
 

 
 
Asset-backed securities
$
0.5

 
$
—

 
$
0.5

 
$
—

 
$
0.5

 
$
—

 
$
0.5

 
$
—

Total debt available-for-sale securities
0.5

 
—

 
0.5

 
—

 
0.5

 
—

 
0.5

 
—

Money market funds
347.7

 
347.7

 
—

 
—

 
334.6

 
334.6

 
—

 
—

Trading securities
1.5

 
1.5

 
—

 
—

 
1.4

 
1.4

 
—

 
—

Foreign currency forward contracts (1)
8.0

 
—

 
8.0

 
—

 
2.2

 
—

 
2.2

 
—

Total assets (2)
$
357.7


$
349.2


$
8.5


$
—

 
$
338.7

 
$
336.0

 
$
2.7

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liability:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Foreign currency forward contracts (3)
$
1.5

 
$
—

 
$
1.5

 
$
—

 
$
1.5

 
$
—

 
$
1.5

 
$
—

Contingent consideration (4)
9.9

 
—

 
—

 
9.9

 
9.9

 
—

 
—

 
9.9

Total liabilities
$
11.4


$
—


$
1.5


$
9.9

 
$
11.4


$
—


$
1.5


$
9.9

(1)$8.0 million and $2.2 million in prepayments and other current assets on the Company’s Consolidated Balance Sheets as of October 3, 2020 and June 27, 2020, respectively.
(2)Includes as of October 3, 2020, $340.2 million in cash and cash equivalents, $1.5 million in short-term investments, $3.2 million in restricted cash, $8.0 million in prepayments and other current assets and $4.8 million in other non-current assets on the Company’s Consolidated Balance Sheets. Includes as of June 27, 2020, $327.2 million in cash and cash equivalents, $1.4 million in short-term investments, $3.4 million in restricted cash, $2.2 million in prepayments and other current assets, and $4.5 million in other non-current assets on the Company’s Consolidated Balance Sheets.
(3)Includes $1.5 million and $1.5 million in other current liabilities on the Company’s Consolidated Balance Sheets as of October 3, 2020 and June 27, 2020, respectively.
(4)Includes $8.9 million and $9.4 million in other non-current liabilities and $1.0 million and $0.5 million in other current liabilities as of October 3, 2020 and June 27, 2020, respectively.
Schedule of Changes in Fair Value of Level 3 Liabilities
The following table provides a reconciliation of changes in fair value of the Company’s Level 3 liabilities for the three months ended October 3, 2020 (in millions):
 
 
Three Months Ended
 
 
October 3, 2020
Balance as of June 27, 2020
 
$
9.9

Fair value adjustment of contingent consideration liabilities
 
—

Balance as of October 3, 2020
 
$
9.9