Debt - Additional Information (Detail) - USD ($)
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3 Months Ended |
6 Months Ended |
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Dec. 02, 2028 |
Jun. 01, 2021 |
Dec. 24, 2022 |
Dec. 24, 2022 |
Dec. 25, 2021 |
Sep. 24, 2022 |
Jun. 25, 2022 |
Dec. 02, 2021 |
Mar. 31, 2021 |
Mar. 11, 2021 |
Debt Instrument [Line Items] |
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Carrying Amount |
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$ 600,000,000.0
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Debt instrument interest rate, stated percentage |
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1.00%
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Redemption of Principal amount percentage |
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100.00%
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Debt issuance costs |
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$ 5,700,000
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$ 5,700,000
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$ 11,200,000
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Interest Expense Long Term Debt |
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4,000,000.0
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8,000,000.0
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Interest Expense |
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$ 7,700,000
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$ 14,200,000
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Debt instrument maturity date |
Dec. 02, 2028
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Common stock, par value |
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$ 0.001
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$ 0.001
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$ 0.001
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$ 0.001
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Debt instrument aggregate principal amount |
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$ 600,000,000.0
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Common stock shares issued related to convertible notes |
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68,459,485
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68,459,485
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67,745,800
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Debt issuance cost |
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$ 11,200,000
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Percentage of voting capital stock |
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65.00%
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Percentage of non-voting capital stock |
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100.00%
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LIBOR [Member] |
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Debt Instrument [Line Items] |
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Debt instrument interest rate, stated percentage |
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2.25%
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Base Rate [Member] |
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Debt Instrument [Line Items] |
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Debt instrument interest rate, stated percentage |
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1.50%
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4.0% Senior Notes Due 2029 [Member] |
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Debt Instrument [Line Items] |
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Carrying Amount |
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$ 400,000,000.0
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Debt instrument interest rate, stated percentage |
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4.00%
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4.00%
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Repayment date, description |
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Prior to June 15, 2024, we may redeem the Senior Notes, in whole or in part, at a redemption price of 100% of the principal amount thereof, plus a make-whole premium set forth in the Indenture, plus accrued and unpaid interest, if any, up to, but excluding, the redemption date.
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Redemption of debt in cash, percentage |
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104.00%
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Maturity period |
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Jun. 15, 2024
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Debt instrument aggregate principal amount |
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$ 400,000,000.0
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0.50% Convertible Senior Notes due 2022 [Member] |
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Debt Instrument [Line Items] |
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Conversion of notes in multiples of principal amounts |
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$ 1,000,000,000
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Debt instrument convertible number of shares per thousand of principal amount of notes |
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13.6947
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Initial conversion price per share of common stock |
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$ 0.0320
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$ 0.0320
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Convertible debt principal amount in multiples |
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$ 1,000,000,000
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Debt instrument convertible number of shares per thousand of principal amount of notes, current |
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13.7267
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Debt Instrument Convertible Number Of Shares Per Thousand Of Principal Amount Of Notes |
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13.6947
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0.50% Convertible Senior Notes due 2022 [Member] | Convertible Notes Payable [Member] |
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Debt Instrument [Line Items] |
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Debt instrument periodic payment principal |
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$ 505,600,000
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Common stock shares issued related to convertible notes |
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3,500,000
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3,500,000
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Lose on issuance of common stock from treasury stock |
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$ 8,100,000
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0.50% Convertible Senior Notes due 2022 [Member] | Purchase Agreement [Member] |
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Debt Instrument [Line Items] |
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Percentage Of Principal Amount Of Notes Equal To Repurchase Price |
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100.00%
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0.50% Convertible Senior Notes due 2022 [Member] | Purchase Agreement [Member] | Convertible Notes Payable [Member] |
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Debt Instrument [Line Items] |
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Carrying Amount |
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$ 525,000,000
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Debt instrument aggregate principal amount |
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$ 525,000,000
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Amended and Restated Credit Agreement [Member] | Revolving Credit Facility [Member] |
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Debt Instrument [Line Items] |
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Maturity period |
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Mar. 11, 2026
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Debt amortization period |
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60 months
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Maximum leverage ratio permitted |
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3.75%
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3.75%
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Covenant description |
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Under the Credit Agreement, there are various restrictive covenants, including two financial covenants which limit the consolidated total leverage ratio, or leverage ratio, the consolidated interest coverage ratio, or interest coverage ratio, a restriction that permits accounts receivable financings provided that the aggregate unpaid amount of permitted accounts receivable financings are no more than the greater of $100 million and 50% of the amount of all accounts receivable of the Company and specified subsidiaries and other specific items. The leverage ratio is the ratio of net debt as of the measurement date to Consolidated EBITDA, for the four consecutive quarters ending with the quarter of measurement. The current leverage ratio shall not exceed 3.75 to 1.00 provided that for the four fiscal quarters ending after the date of a material acquisition, such maximum leverage ratio shall be adjusted to 4.25 to 1.00, and thereafter 3.75 to 1.0. The interest coverage ratio is Consolidated EBITDA to interest expense for the four consecutive quarters ending with the quarter of measurement. The interest coverage ratio must not be less than 3.50 to 1.0 during the term of the Credit Agreement. As of December 2022, we remain in compliance with the restrictive covenants.
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Line of credit, maximum borrowing capacity |
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$ 250,000,000
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$ 250,000,000
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Line of credit facility allowable requests for additional borrowing |
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150,000,000
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150,000,000
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Outstanding principal amount |
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0
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$ 0
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$ 100,000,000.0
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Repayment date, description |
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the revolving credit facility are required to be repaid in full by March 11, 2026. Debt issuance costs relating to the revolving credit facility of $1.6 million, included in non-current other assets on our consolidated balance sheet, are being amortized over 60 months.
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Debt issuance cost |
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$ 1,600,000
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Description of base rate |
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The revolving credit facility bears interest at our election of a Base Rate plus an Applicable Margin or LIBOR plus an Applicable Margin. Swingline loans bear interest at a Base Rate plus an Applicable Margin. The Base Rate is a floating rate that is the greater of the Prime Rate, the Federal Funds Rate plus 50 basis points, or LIBOR plus 100 basis points. The Applicable Margin is based on a sliding scale which ranges from 0.25 to 100 basis points for Base Rate loans and 100 basis points to 175 basis points for LIBOR loans.
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Revolving credit facility description |
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The LIBOR index is expected to be discontinued at the end of June 2023.
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Maximum accounts receivable financings per quarter |
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$ 100,000,000
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$ 100,000,000
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Minimum interest coverage ratio |
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3.50%
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Amended and Restated Credit Agreement [Member] | Revolving Credit Facility [Member] | Wells Fargo Securities, LLC [Member] |
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Debt Instrument [Line Items] |
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Covenant description |
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we entered into a Second Amended and Restated Credit Agreement, with the lenders party thereto and Wells Fargo Bank, National Association, as administrative agent, or the Credit Agreement, to, among other changes, extend the maturity date of our senior secured revolving credit facility, to five years from the closing date of the amendment, increase the facility size from $200.0 million to $250.0 million, and replace the requirement to maintain a total debt to Consolidated EBITDA (as defined in the Credit Agreement) ratio of not more than 4.75 to 1.00 with a requirement to maintain a net total debt to Consolidated EBITDA ratio of not more than 3.75 to 1.00 provided that for the four fiscal quarters ending after the date of a material acquisition, such maximum leverage ratio shall be adjusted to 4.25 to 1.00, and thereafter 3.75 to 1.00, provided further, that such deemed increase pursuant to the foregoing shall not apply to more than two material acquisitions consummated during the term of the Credit Agreement.
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Prior leverage ratio permitted |
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4.75%
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4.75%
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Current leverage ratio permitted |
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3.75%
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3.75%
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Amended and Restated Credit Agreement [Member] | Revolving Credit Facility [Member] | Federal Funds Rates [Member] |
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Debt Instrument [Line Items] |
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Basis spread on variable rate |
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50.00%
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Amended and Restated Credit Agreement [Member] | Revolving Credit Facility [Member] | LIBOR [Member] |
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Debt Instrument [Line Items] |
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Basis spread on variable rate |
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100.00%
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Amended and Restated Credit Agreement [Member] | Revolving Credit Facility [Member] | Minimum [Member] |
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Debt Instrument [Line Items] |
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Commitment fee percentage of unused portion |
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0.175%
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Amended and Restated Credit Agreement [Member] | Revolving Credit Facility [Member] | Minimum [Member] | Wells Fargo Securities, LLC [Member] |
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Debt Instrument [Line Items] |
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Line of credit, maximum borrowing capacity |
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$ 200,000,000.0
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$ 200,000,000.0
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Amended and Restated Credit Agreement [Member] | Revolving Credit Facility [Member] | Minimum [Member] | LIBOR [Member] |
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Debt Instrument [Line Items] |
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Basis spread on variable rate |
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100.00%
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Amended and Restated Credit Agreement [Member] | Revolving Credit Facility [Member] | Minimum [Member] | Base Rate [Member] |
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Debt Instrument [Line Items] |
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Basis spread on variable rate |
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0.25%
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Amended and Restated Credit Agreement [Member] | Revolving Credit Facility [Member] | Maximum |
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Debt Instrument [Line Items] |
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Commitment fee percentage of unused portion |
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0.25%
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Amended and Restated Credit Agreement [Member] | Revolving Credit Facility [Member] | Maximum | Wells Fargo Securities, LLC [Member] |
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Debt Instrument [Line Items] |
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Line of credit, maximum borrowing capacity |
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250,000,000.0
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$ 250,000,000.0
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Amended and Restated Credit Agreement [Member] | Revolving Credit Facility [Member] | Maximum | LIBOR [Member] |
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Debt Instrument [Line Items] |
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Basis spread on variable rate |
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175.00%
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Amended and Restated Credit Agreement [Member] | Revolving Credit Facility [Member] | Maximum | Base Rate [Member] |
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Debt Instrument [Line Items] |
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Basis spread on variable rate |
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100.00%
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Amended and Restated Credit Agreement [Member] | Letter of Credit [Member] |
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Debt Instrument [Line Items] |
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Line of credit, maximum borrowing capacity |
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$ 20,000,000
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Amended and Restated Credit Agreement [Member] | Bridge Loan [Member] |
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Debt Instrument [Line Items] |
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Line of credit, maximum borrowing capacity |
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$ 25,000,000
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$ 25,000,000
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Amended and Restated Credit Agreement [Member] | For The First Four Fiscal Quarters Ending After Date of Material Acquisition [Member] | Revolving Credit Facility [Member] |
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Debt Instrument [Line Items] |
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Maximum leverage ratio permitted |
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4.25%
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4.25%
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Amended and Restated Credit Agreement [Member] | For The First Four Fiscal Quarters Ending After Date of Material Acquisition [Member] | Revolving Credit Facility [Member] | Wells Fargo Securities, LLC [Member] |
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Debt Instrument [Line Items] |
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Maximum leverage ratio permitted |
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4.25%
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4.25%
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Minimum leverage ratio permitted |
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3.75%
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3.75%
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Amended and Restated Credit Agreement [Member] | Thereafter [Member] | Revolving Credit Facility [Member] |
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Debt Instrument [Line Items] |
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Maximum leverage ratio permitted |
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3.75%
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3.75%
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