Acquisitions (Tables)

12 Months Ended

Jul. 02, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Changes in Earn-out Liabilities

The following table provides a reconciliation of changes in fair value of the Company’s earn-out liabilities for the years ended July 2, 2022 and July 3, 2021, as follows (in millions):

	Total
Balance: June 27, 2020	$	9.9
Change in Fair Value measurement	(4.7)
Payments of Contingent Consideration	(1.2)
Balance July 3, 2021(1)	$	4.0
Additions to Contingent Consideration	2.5
Change in Fair Value measurement	0.3
Currency translation adjustment	0.1
Payments of Contingent Consideration	(4.4)
Balance July 2, 2022(2)	$	2.5

(1) Amount is included in other current liabilities in the Consolidated Balance Sheets.

(2) Includes $1.8 million in other current liabilities and $0.7 million in other non-current liabilities in the Consolidated Balance Sheets.

The Company’s assets and liabilities measured at fair value for the periods presented are as follows (in millions):

	July 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:
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)	313.2		313.2		—		—		408.9		408.9		—		—
Trading securities(3)	1.4		1.4		—		—		1.6		1.6		—		—
Foreign currency forward contracts(4)	3.8		—		3.8		—		2.6		—		2.6		—
Total assets	$	319.0	$	314.6	$	4.4	$	—	$	413.5	$	410.5	$	3.0	$	—
Liability:
Foreign currency forward contracts(5)	8.4		$	—	$	8.4	$	—	$	1.4	$	—	$	1.4	$	—
Contingent consideration(6)	2.5		—		—		2.5		4.0		—		—		4.0
Total liabilities	$	10.9	$	—	$	8.4	$	2.5	$	5.4	$	—	$	1.4	$	4.0

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

(2) Includes as of July 2, 2022, $301.5 million in cash and cash equivalents, $3.1 million in restricted cash, and $8.6 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.

(6) As of July 2,2022, includes certain amounts in other current liabilities and other non-current liabilities on the Company’s Consolidated Balance Sheets. As of July 3, 2021 balance included in other current liabilities on the Company’s Consolidated Balance Sheets.