Condensed Consolidated Statements of Income (Unaudited) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Dec. 24, 2022 |
Dec. 25, 2021 |
Dec. 24, 2022 |
Dec. 25, 2021 |
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| Income Statement [Abstract] | ||||
| Net revenue | $ 353.1 | $ 420.5 | $ 801.2 | $ 793.2 |
| Cost of revenue | 166.4 | 195.4 | 358.8 | 370.0 |
| Gross margin | 186.7 | 225.1 | 442.4 | 423.2 |
| Operating expenses: | ||||
| Research and development | 89.3 | 88.9 | 178.8 | 175.0 |
| Selling, general, and administrative | 42.4 | 44.3 | 87.1 | 85.9 |
| Acquired intangibles amortization | 8.9 | 9.2 | 18.4 | 17.6 |
| Restructuring costs | 5.1 | 0.0 | 6.5 | |
| Total operating expenses | 140.6 | 147.5 | 284.3 | 285.0 |
| Operating income | 46.1 | 77.6 | 158.1 | 138.2 |
| Interest and other expense, net | (6.7) | (5.7) | (15.0) | (11.6) |
| Loss on redemption of convertible notes | 0.0 | (8.1) | ||
| Income before provision for income taxes and equity investment loss | 39.4 | 71.9 | 143.1 | 118.5 |
| Provision for income taxes | 17.4 | 2.0 | 56.5 | 7.9 |
| Equity investment loss | 0.4 | 0.0 | 0.9 | |
| Net income | $ 22.0 | $ 69.5 | $ 86.6 | $ 109.7 |
| Net income per share: | ||||
| Basic | $ 0.55 | $ 1.76 | $ 2.18 | $ 2.85 |
| Diluted | $ 0.55 | $ 1.71 | $ 2.14 | $ 2.70 |
| Shares used in computing net income: | ||||
| Basic | 39.8 | 39.4 | 39.8 | 38.5 |
| Diluted | 40.2 | 40.7 | 40.5 | 40.7 |
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- Definition Amortization of intangible assets included in operating expense. No definition available.
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- Definition Loss on redemption of convertible notes. No definition available.
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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