v3.26.1
Basis of Presentation and New Accounting Standards (Tables)
 9 Months Ended
Mar. 29, 2026
Accounting Policies [Abstract]  
Schedule of Inventories
SuccessorPredecessor
(in millions of U.S. Dollars)March 29, 2026June 29, 2025
Raw material$128.8 $144.5 
Work-in-progress146.3 284.6 
Finished goods5.4 6.3 
Inventories, net$280.5 $435.4 
Schedule of Other Current Assets
SuccessorPredecessor
(in millions of U.S. Dollars)March 29, 2026June 29, 2025
Reimbursement receivable on long-term incentive agreement$0.5 $33.1 
Assets held for sale(1)
1.8 24.4 
MACOM Shares(2)
— 102.0 
Inventory related to the RF Master Supply Agreement— 15.8 
VAT receivables0.6 9.1 
Insurance deposit— 7.4 
Accrued interest receivable4.3 5.4 
Receivable on RF Master Supply Agreement— 5.3 
Short-term spares34.4 — 
Other10.9 19.5 
Other current assets$52.5 $222.0 
(1): During the third quarter of fiscal 2025, the Company determined three facilities and equipment met the held-for-sale criteria under ASC Topic 360, "Property, Plant and Equipment," ("ASC 360") of which two were sold during the fourth quarter of fiscal 2025 and one was sold during the second quarter of fiscal 2026. The assets included in each of the disposal groups were measured at the lower of their carrying value or fair value less costs to sell. The remaining balance is equipment that meet the held-for-sale criteria under ASC 360.
(2): Refer to Note 4, "Discontinued Operations," and Note 9, "Fair Value of Financial Instruments," to the consolidated financial statements included herein for additional information.
Schedule of Other Assets
SuccessorPredecessor
(in millions of U.S. Dollars)March 29, 2026June 29, 2025
Right-of-use assets$98.3 $123.1 
Long-term advances to suppliers67.0 69.8 
Long-term deposits24.3 24.3 
Cloud computing assets, net5.1 10.4 
Other7.7 39.3 
Other assets$202.4 $266.9 
Schedule of Accounts Payable and Accrued Expenses
SuccessorPredecessor
(in millions of U.S. Dollars)March 29, 2026June 29, 2025
Accounts payable, trade$21.4 $30.6 
Accrued property and equipment6.5 124.7 
Accrued salaries and wages38.1 79.2 
Accrued expenses49.7 45.7 
Accounts payable and accrued expenses$115.7 $280.2 
Schedule of Other Current Liabilities
SuccessorPredecessor
(in millions of U.S. Dollars)March 29, 2026June 29, 2025
Accrued interest$11.3 $90.7 
RF supply agreement liabilities(1)
12.9 76.9 
Other31.8 52.9 
Other current liabilities$56.0 $220.5 
(1): Refer to Note 4, "Discontinued Operations," to the consolidated financial statements included herein for additional information.
Schedule of Other Long-term Liabilities
SuccessorPredecessor
(in millions of U.S. Dollars)March 29, 2026June 29, 2025
Long-term lease liabilities$100.5 $139.5 
Long-term RF supply agreement liabilities(1)
50.6 44.5 
Long-term customer deposits4.3 15.6 
Other4.8 3.5 
Other long-term liabilities$160.2 $203.1 
(1): Refer to Note 4, "Discontinued Operations," to the consolidated financial statements included herein for additional information.
Schedule of Other Operating Expense
SuccessorPredecessor
Three months endedThree months ended
(in millions of U.S. Dollars)March 29, 2026March 30, 2025
Legal settlements$— $17.0 
Restructuring and other exit costs1.7 40.7 
Project, transformation and transaction costs5.0 6.8 
Amortization or impairment of fresh start accounting and acquisition-related intangibles3.9 0.3 
Other— 0.6 
Restructuring and other expenses$10.6 $65.4 
SuccessorPredecessor
(in millions of U.S. Dollars)Period from September 30, 2025 to March 29, 2026Period from June 30, 2025 to September 29, 2025Nine months ended March 30, 2025
Legal settlements$— $— $17.0 
Restructuring and other exit costs11.3 3.7 250.2 
Executive severance costs— — 1.4 
Project, transformation and transaction costs19.1 13.8 20.6 
Amortization or impairment of fresh start accounting and acquisition-related intangibles7.9 — 0.9 
Other0.5 2.9 4.7 
Restructuring and other expenses$38.8 $20.4 $294.8 
Schedule of Non-Operating Income, Net
SuccessorPredecessor
(in millions of U.S. Dollars)Three months ended March 29, 2026Three months ended March 30, 2025
Changes in fair value of liability classified derivative contracts(28.7)— 
Interest income(10.9)(19.4)
Realized loss on MACOM Shares— 24.9 
Gain on contingent cash(10.0)— 
Loss on debt extinguishment2.8 — 
Other, net0.6 — 
Non-operating (income) expense, net($46.2)$5.5 
SuccessorPredecessor
(in millions of U.S. Dollars)Period from September 30, 2025 to March 29, 2026Period from June 30, 2025 to September 29, 2025Nine months ended March 30, 2025
Changes in fair value of liability classified derivative contracts(87.8)— — 
Interest income(20.5)(8.9)(58.6)
Loss on Wafer Supply Agreement— — 9.2 
Gain on RTP Fab Transfer— (25.4)— 
Realized loss on MACOM Shares— 10.9 9.2 
Gain on contingent cash(10.0)— — 
Loss on debt extinguishment2.8 — — 
Other, net2.3 1.0 1.7 
Non-operating income, net($113.2)($22.4)($38.5)
Schedule of Noncash Operating Activities
SuccessorPredecessor
(in millions of U.S. Dollars)Period from September 30, 2025 to March 29, 2026Period from June 30, 2025 to September 29, 2025Nine months ended March 30, 2025
Decrease in property, plant and equipment from investment tax credit receivables$44.4 $76.8 $264.5 
Lease asset and liability additions3.6 19.1 35.2 
Lease asset and liability modifications, net(0.2)(0.2)2.9 
Lease termination(5.0)(0.1)— 
Lease asset impairment— — (4.8)
Decrease in accrued property, plant and equipment(35.8)(82.4)(146.3)
Commitment fee payable for 2030 Senior Notes— — 15.2