v3.26.1
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Jun. 27, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Schedule of Changes in Goodwill
The following table presents our goodwill balances as of June 27, 2026 and June 28, 2025 (in millions):
Amount
Balances as of June 29, 2024$1,055.8 
Acquisition of Cloud Light (1)
5.1 
Balances as of June 28, 2025$1,060.9 
Acquisition of a business (2)
$8.4 
Balances as of June 27, 2026$1,069.3 
(1) During the year ended June 28, 2025, prior to the end of the measurement period, we adjusted the purchase price allocation related to our Cloud Light acquisition and recorded a $5.1 million increase to goodwill. The primary adjustment to the opening balance sheet relates to income tax liabilities which were not known in previous periods.
(2) On March 17, 2026, we acquired a manufacturing facility in Greensboro, North Carolina for $38.0 million in cash from a third party. The acquired business mainly included land and building, machinery and equipment, and an assembled workforce, offset by the liabilities assumed. The goodwill of $8.4 million arising from this acquisition has been attributed to the value of the assembled workforce and the strategic benefits associated with acquiring an operational fabrication facility to expand our capacity. Refer to “Note 4. Business Combination” for details.
Schedule of Acquired Developed Technology and Other Intangibles
The following tables present details of all of our intangibles as of the periods presented (in millions, except for weighted average remaining amortization period):
June 27, 2026Gross Carrying AmountsAccumulated AmortizationNet Carrying AmountsWeighted average remaining amortization period (years)
Acquired developed technologies$828.4 $(638.7)$189.7 3.5
Customer relationships 419.5 (282.3)137.2 3.4
Order backlog14.0 (14.0)— —
Trade name and trademarks3.0 (3.0)— —
Total intangible assets$1,264.9 $(938.0)$326.9 
June 28, 2025Gross Carrying AmountsAccumulated AmortizationNet Carrying AmountsWeighted average remaining amortization period (years)
Acquired developed technologies$822.4 $(559.0)$263.4 4.1
Customer relationships419.8 (226.6)193.2 4.1
In-process research and development8.5 — 8.5 n/a
Order backlog14.0 (14.0)— —
Trade name and trademarks3.0 (3.0)— —
Total intangible assets$1,267.7 $(802.6)$465.1 
Schedule of Amortization Expense
The following table presents details of amortization for the periods presented (in millions):
Years ended
June 27, 2026June 28, 2025June 29, 2024
Cost of sales$77.6 $82.2 $83.9 
Selling, general and administrative56.4 65.9 65.2 
Research and development1.7 1.6 1.5 
Total amortization of intangibles$135.7 $149.7 $150.6 
Schedule of Estimated Future Amortization Expense
Based on the carrying amount of our intangible assets as of June 27, 2026, and assuming no future impairment of the underlying assets, the estimated future amortization is as follows (in millions):
Fiscal Years
2027$123.5 
202883.0 
202952.6 
203046.5 
203120.0 
Thereafter1.3 
Total$326.9