Gross receivables include both billed and unbilled receivables (including Contract assets). As of December 28, 2024, and June 29, 2024, the Company had total unbilled receivables of $11.2 million and $16.3 million, respectively.

The Company also has short-term and long-term deferred revenues related to undelivered product and professional services, consisting of installations and consulting engagements, which are recognized as the Company's performance obligations under the contract are completed and accepted by the customer.


	December 28, 2024
	Three Months Ended		Six Months Ended
Deferred revenue:
Balance at beginning of period	$	88.8	$	91.4
Revenue deferrals for new contracts (1)	25.2		50.1
Revenue recognized during the period (2)	(30.3)		(57.8)
Balance at end of period	$	83.7	$	83.7

(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.

Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations, changes in the scope of contracts, adjustments for revenue that have not materialized, and currency fluctuations.

The value of the transaction price allocated to remaining performance obligations as of December 28, 2024, was $272.8 million. The Company expects to recognize approximately 90% of remaining performance obligations as revenue within the next 12 months, and the remainder thereafter.

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


	June 29, 2024		Charged to Costs and Expenses		Deductions (1)		December 28, 2024
Allowance for credit losses	$	1.6	$	0.7	$	(0.5)	$	1.8

(1)Represents the effect of currency translation adjustments and write-offs of uncollectible accounts, net of recoveries.


	December 28, 2024		June 29, 2024
Finished goods	$	45.8	$	44.6
Work in process	15.2		15.4
Raw materials	31.8		36.5
Inventories, net	$	92.8	$	96.5

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


	December 28, 2024		June 29, 2024
Refundable income taxes	$	22.0	$	28.5
Prepayments	16.7		18.5
Advances to contract manufacturers	4.8		5.7
Fair value of forward contracts	3.1		1.7
Transaction tax receivables	2.2		3.3
Asset held for sale	—		2.5
Other current assets	13.5		10.5
Prepayments and other current assets	$	62.3	$	70.7


	December 28, 2024		June 29, 2024
Operating right-of-use (ROU) assets	$	32.7	$	35.8
Long-term restricted cash	5.0		5.5
Long-term investment (Note 7)	3.0		—
Deposits	2.4		2.4
Deferred contract cost	2.3		2.5
Debt issuance cost - Revolving Credit Facility	1.6		1.9
Other non-current assets	11.0		9.9
Other non-current assets	$	58.0	$	58.0


	December 28, 2024		June 29, 2024



Operating lease liabilities	$	9.4	$	9.8
Fair value of forward contracts	7.8		1.5
Income tax payable	6.1		5.3
Restructuring accrual	5.7		14.1
Interest payable	5.1		5.1
Warranty accrual	4.2		3.4
Transaction tax payable	3.3		4.0




Other current liabilities	7.8		14.3
Other current liabilities	$	49.4	$	57.5


	December 28, 2024		June 29, 2024
Pension and post-employment benefits	$	50.3	$	51.2
Long-term deferred revenue	26.0		25.7
Operating lease liabilities	23.3		25.7
Uncertain tax position	17.5		17.0
Financing obligation	15.6		15.7
Deferred tax liability	7.4		11.7
Asset retirement obligations	3.1		3.0
Warranty accrual	2.6		4.0
Fair value of contingent consideration (Note 5)	2.1		9.5
Restructuring accrual	—		0.8
Other non-current liabilities	7.1		7.3
Other non-current liabilities	$	155.0	$	171.6