Balance Sheet and Other Details (Tables)

9 Months Ended

Apr. 01, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

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

The following tables summarize the activity related to deferred revenue (in millions):

	April 1, 2023
	Three Months Ended		Nine Months Ended
Deferred revenue:
Balance at beginning of period	$	94.6	$	100.4
Revenue deferrals for new contracts (1)	32.4		95.5
Revenue recognized during the period (2)	(29.6)		(98.5)
Balance at end of period	$	97.4	$	97.4

(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 current period deferrals.

Schedule of Components of Accounts Receivable Allowance

The following table presents the activities and balances for allowance for credit losses (in millions):

	July 2, 2022		Charged to Costs and Expenses		Deductions (1)		April 1, 2023
Allowance for credit losses	$	1.4	$	0.4	$	(0.8)	$	1.0

(1)     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 (in millions):

	April 1, 2023		July 2, 2022
Finished goods	$	49.6	$	41.6
Work in process	19.0		17.7
Raw materials	57.3		50.8
Inventories, net	$	125.9	$	110.1

Schedule of Components of Prepayments and Other Current Assets

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

	April 1, 2023		July 2, 2022
Refundable income taxes	$	30.7	$	14.5
Prepayments	12.7		16.0
Advances to contract manufacturers	9.4		11.8
Transaction tax receivables	6.6		10.4
Asset held for sale	2.5		2.5
Other current assets	8.5		14.0
Prepayments and other current assets	$	70.4	$	69.2

Schedule of Components of Other Current Liabilities

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

	April 1, 2023		July 2, 2022
Income tax payable	$	10.2	$	9.6
Operating lease liabilities (Note 12)	10.1		10.1
Interest payable	8.4		4.6
Restructuring accrual (Note 13)	7.4		—
Acquisition related holdback and related accruals	4.5		0.1
Transaction tax payable	4.5		11.5
Warranty accrual	4.2		4.4
Fair value of forward contracts	1.5		8.4
Fair value of contingent consideration	1.1		1.8
Other	8.3		5.8
Other current liabilities	$	60.2	$	56.3

Schedule of Components of Other Non-current Liabilities

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

	April 1, 2023		July 2, 2022
Pension and post-employment benefits	$	55.0	$	59.6
Operating lease liabilities (Note 12)	29.4		33.5
Fair value of contingent consideration	23.5		0.7
Long-term deferred revenue	21.9		19.4
Financing obligation	15.8		16.0
Deferred tax liability	15.3		9.5
Uncertain tax position	14.8		12.9
Warranty accrual	5.2		6.2
Other	13.7		12.6
Other non-current liabilities	$	194.6	$	170.4