Goodwill

9 Months Ended

Mar. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Note 9. Goodwill

The following table presents changes in goodwill allocated to the Company’s reportable segments (in millions):

	Network Enablement		Service Enablement		Optical Security and Performance Products		Total
Balance as of July 1, 2023	$	399.2	$	13.8	$	42.2	$	455.2
Currency translation	(0.9)		(0.1)		—		(1.0)
Other adjustment (1)	—		(1.0)		—		(1.0)
Balance as of March 30, 2024	$	398.3	$	12.7	$	42.2	$	453.2

(1)Adjustment related to Goodwill acquired as part of a prior acquisition.

The Company tests goodwill for impairment at the reporting unit level annually during the fourth quarter of each fiscal year, or more frequently if events or circumstances indicate that the asset may be impaired. In the fourth quarter of fiscal 2023, the Company performed a quantitative assessment of goodwill impairment and concluded the fair value of each of the Company’s reporting units was at least two times the carrying value, and therefore no impairment was identified.

There were no events or changes in circumstances which triggered an impairment review during the three and nine months ended March 30, 2024.