Investments (Tables)

12 Months Ended

Jun. 28, 2026

Investments, Debt and Equity Securities [Abstract]

Short-term investments as of June 28, 2026 consist of the following:


	Successor
	June 28, 2026
(in millions of U.S. Dollars)	Amortized Cost	Gross Unrealized Gains	Gross Unrealized Losses	Credit Loss Allowance	Estimated Fair Value
Corporate bonds	$210.3	$—	($0.4)	$—	$209.9
U.S. treasury securities	185.3	—	(0.2)	—	185.1
Municipal bonds	86.6	0.1	(0.1)	—	86.6
Certificates of deposit	20.2	—	—	—	20.2


Commercial paper	10.5	—	—	—	10.5


Total short-term investments	$512.9	$0.1	($0.7)	$—	$512.3

Short-term investments as of June 29, 2025 consist of the following:


	Predecessor
	June 29, 2025
(in millions of U.S. Dollars)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Credit Loss Allowance		Estimated Fair Value
U.S. treasury securities	$	192.0	$	0.1	$	—	$	—	$	192.1
Corporate bonds	196.8		0.3		(1.5)		—		195.6
Municipal bonds	79.5		0.2		(0.5)		—		79.2
Certificates of deposit	5.0		—		—		—		5.0
Commercial paper	16.3		—		—		—		16.3

Total short-term investments	$	489.6	$	0.6	$	(2.0)	$	—	$	488.2

Schedule of Gross Unrealized Losses and Fair Value of Short-term Investments by Type and Length of Time

The following table presents the gross unrealized losses and estimated fair value of the Company’s short-term investments, aggregated by investment type and the length of time that individual securities have been in a continuous unrealized loss position:


	Successor
	June 28, 2026
	Less than 12 Months		Greater than 12 Months		Total
(in millions of U.S. Dollars)	Fair Value	Unrealized Loss	Fair Value	Unrealized Loss	Fair Value	Unrealized Loss
Corporate bonds	$155.7	($0.4)	$11.2	$—	$166.9	($0.4)
U.S. treasury securities	129.0	(0.1)	29.7	(0.1)	158.7	(0.2)
Municipal bonds	68.0	(0.1)	2.6	—	70.6	(0.1)



Total	$352.7	($0.6)	$43.5	($0.1)	$396.2	($0.7)
Number of securities with an unrealized loss		173		12		185


	Predecessor
	June 29, 2025
	Less than 12 Months		Greater than 12 Months		Total
(in millions of U.S. Dollars)	Fair Value	Unrealized Loss	Fair Value	Unrealized Loss	Fair Value	Unrealized Loss
Corporate bonds	$28.7	$—	$65.2	($1.5)	$93.9	($1.5)
Municipal bonds	6.2	—	41.3	(0.5)	47.5	(0.5)
U.S. treasury securities	90.6	—	—	—	90.6	—



Total	$125.5	$—	$106.5	($2.0)	$232.0	($2.0)
Number of securities with an unrealized loss		54		25		79

Schedule of Contractual Maturities of Short-term Investments by Type

The contractual maturities of short-term investments at June 28, 2026 were as follows:


	Successor
(in millions of U.S. Dollars)	Within One Year	After One, Within Five Years	After Five, Within Ten Years	After Ten Years	Total
Corporate bonds	$180.5	$29.4	$—	$—	$209.9
U.S. treasury securities	144.0	41.1	—	—	185.1
Municipal bonds	78.7	7.9	—	—	86.6
Certificates of deposit	20.0	0.2	—	—	20.2


Commercial paper	10.5	—	—	—	10.5


Total short-term investments	$433.7	$78.6	$—	$—	$512.3

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-9

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details