Fair Value Measurements (Tables)

9 Months Ended

Apr. 02, 2022

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):

	April 2, 2022								July 3, 2021
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Assets:
Debt available-for-sale securities:							40
Asset-backed securities (1)	$	0.6	$	—	$	0.6	$	—	$	0.4	$	—	$	0.4	$	—
Total debt available-for-sale securities	0.6		—		0.6		—		0.4		—		0.4		—
Money market funds (2)	302.1		302.1		—		—		408.9		408.9		—		—
Trading securities (3)	1.6		1.6		—		—		1.6		1.6		—		—
Foreign currency forward contracts (4)	2.6		—		2.6		—		2.6		—		2.6		—
Total assets	$	306.9	$	303.7	$	3.2	$	—	$	413.5	$	410.5	$	3.0	$	—
Liability:
Foreign currency forward contracts (5)	$	4.2	$	—	$	4.2	$	—	$	1.4	$	—	$	1.4	$	—
Contingent consideration (5)	—		—		—		—		4.0		—		—		4.0
Total liabilities	$	4.2	$	—	$	4.2	$	—	$	5.4	$	—	$	1.4	$	4.0

(1)Included in other non-current assets on the Company’s Consolidated Balance Sheets.

(2)Includes, as of April 2, 2022, $292.7 million in cash and cash equivalents, $3.1 million in restricted cash, and $6.3 million in other non-current assets on the Company’s Consolidated Balance Sheets. Includes, as of July 3, 2021, $401.0 million in cash and cash equivalents, $2.7 million in restricted cash, and $5.2 million in other non-current assets on the Company’s Consolidated Balance Sheets.

(3)Included in short-term investments on the Company’s Consolidated Balance Sheets.

(4)Included in other current assets on the Company’s Consolidated Balance Sheets.

(5)Included in other current liabilities on the Company’s Consolidated Balance Sheets.

Schedule of Long-term Debt Instruments

The Company’s long-term debt measured at fair value for the periods presented are as follows:

	April 2, 2022								July 3, 2021
	Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
Long-term Debt:
3.75% Senior Notes	$	374.8	$	—	$	374.8	$	—	$	—	$	—	$	—	$	—
1.00% Senior Convertible Notes	295.3		—		295.3		—		646.9		—		646.9		—
1.75% Senior Convertible Notes	109.8		—		109.8		—		300.7		—		300.7		—
Total liabilities	$	779.9	$	—	$	779.9	$	—	$	947.6	$	—	$	947.6	$	—