v3.26.1
(Loss) Income Per Share
12 Months Ended
Jun. 28, 2026
Earnings Per Share [Abstract]  
(Loss) Income Per Share Loss) Income Per Share
The details of the computation of basic and diluted (loss) earnings per share are as follows:
SuccessorPredecessor
(in millions of U.S. Dollars, except share data)Period from September 30, 2025 to June 28, 2026Period from June 30, 2025 to September 29, 2025Fiscal Year Ended June 29, 2025Fiscal Year Ended June 30, 2024
Net (loss) income from continuing operations, basic$(415.8)$420.2 $(1,609.2)$(573.6)
Net loss from discontinued operations, basic— — — (290.6)
Weighted average number of common shares - basic (in thousands)39,094 156,185 141,320 125,693 
(Loss) earnings per share - basic:
Continuing operations($10.64)$2.69 ($11.39)($4.56)
Discontinued operations$— $— $— ($2.31)
Net (loss) income from continuing operations, diluted($415.8)$420.2 ($1,609.2)($573.6)
Net loss from discontinued operations, diluted$— $— $— ($290.6)
Weighted-average number of shares outstanding used to compute net (loss) earnings per share attributable to common stockholders, basic (in thousands)39,094156,185 141,320 $125,693 
Weighted-average effect of potentially dilutive securities:
1.75% Convertible Notes
— 12,152 — — 
0.25% Convertible notes
— 5,895 — 
1.875% Convertible Notes
— 14,721 — 
RSUs (Predecessor)— 99 — 
Weighted-average number of shares outstanding used to compute net (loss) earnings per share attributable to common stockholders, diluted (in thousands)39,094189,052 141,320 125,693 
Net (loss) income from continuing operations per share attributable to common stockholders, diluted($10.64)$2.22 ($11.39)($4.56)
Net loss per share attributable to common stockholders for discontinued operations$— $— $— ($2.31)
Diluted net (loss) earnings per share is the same as basic net (loss) earnings per share for the periods presented due to potentially dilutive items being anti-dilutive given the Company's net loss from continuing operations.
For the period from June 30, 2025 to September 29, 2025 and September 30, 2025 to June 28, 2026 and fiscal years ended June 29, 2025 and June 30, 2024, 0.0 million, 51.8 million, 0.0 million and 0.0 million, respectively of diluted shares related to convertible notes, calculated under the if-converted method, were excluded from the calculation of diluted (loss) earnings per share because their effect would be anti-dilutive. For the period from June 30, 2025 to September 29, 2025 and September 30, 2025 to June 28, 2026 and fiscal years ended June 29, 2025 and June 30, 2024, 0.0 million, 4.9 million, 0.0 million and 0.0 million, respectively, of diluted shares related to warrants were excluded from the calculation of diluted (loss) earnings per share because their effect would be anti-dilutive. For the period from June 30, 2025 to September 29, 2025 and September 30, 2025 to June 28, 2026 and fiscal years ended June 29, 2025 and June 30, 2024, 0.0 million, 3.8 million, 5.6 million and 4.4 million, respectively, of diluted shares related to share-based payments were excluded from the calculation of diluted (loss) earnings per share because their effect would be anti-dilutive.
Future earnings per share of the Company are also subject to dilution from conversion of its convertible notes under certain conditions as described in Note 11, “Debt.”