Fabrinet (FN) 10-Q 5 May 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Mar. 27, 2020	Apr. 24, 2020
Cover [Abstract]
Document Type	10-Q
Current Fiscal Year End Date	--06-26
Amendment Flag	false
Document Period End Date	Mar. 27, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001408710
Entity Registrant Name	Fabrinet
Trading Symbol	FN
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Interactive Data Current	Yes
Security Exchange Name	NYSE
Title of 12(b) Security	Ordinary Shares
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-34775
Entity Incorporation, State or Country Code	E9
Entity Tax Identification Number	98-1228572
Entity Address, Address Line One	c/o Intertrust Corporate Services (Cayman) Limited
Entity Address, Address Line Two	190 Elgin Avenue
Entity Address, City or Town	George Town
Entity Address, Country	KY
Entity Address, Postal Zip Code	KY1-9005
City Area Code	66
Local Phone Number	2-524-9600
Entity Common Stock, Shares Outstanding		36,722,004

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 27, 2020	Jun. 28, 2019
Current assets
Cash and cash equivalents	$ 224,138	$ 180,839
Short-term restricted cash	7,402
Short-term investments	233,622	256,493
Trade accounts receivable, net	283,467	260,602
Contract assets	16,413	12,447
Inventories	290,208	293,612
Other receivable	24,310
Prepaid expenses	4,524	8,827
Other current assets	8,774	11,015
Total current assets	1,092,858	1,023,835
Non-current assets
Long-term restricted cash		7,402
Property, plant and equipment, net	218,043	210,686
Intangibles, net	3,999	3,887
Operating right-of-use assets	7,175
Goodwill	3,571	3,705
Deferred tax assets	4,353	5,679
Other non-current assets	262	124
Total non-current assets	237,403	231,483
Total Assets	1,330,261	1,255,318
Current liabilities
Long-term borrowings, current portion, net	12,156	3,250
Trade accounts payable	240,028	257,617
Contract liabilities	1,941	2,239
Operating lease liabilities, current portion	1,893
Income tax payable	2,857	1,801
Accrued payroll, bonus and related expenses	19,959	16,510
Accrued expenses	19,798	8,997
Other payables	28,819	22,634
Total current liabilities	327,451	313,048
Non-current liabilities
Long-term borrowings, non-current portion, net	42,553	57,688
Deferred tax liability	3,684	3,561
Operating lease liabilities, non-current portion	5,024
Severance liabilities	16,143	15,209
Other non-current liabilities	1,997	2,713
Total non-current liabilities	69,401	79,171
Total Liabilities	396,852	392,219
Commitments and contingencies (Note 19)
Shareholders' equity
Preferred shares (5,000,000 shares authorized, $0.01 par value; no shares issued and outstanding as of March 27, 2020 and June 28, 2019)
Ordinary shares (500,000,000 shares authorized, $0.01 par value; 38,460,931 shares and 38,230,753 shares issued as of March 27, 2020 and June 28, 2019, respectively; and 36,716,828 shares and 36,841,650 shares outstanding as of March 27, 2020 and June 28, 2019, respectively)	385	382
Additional paid-in capital	171,870	158,299
Less: Treasury shares, at cost (1,744,103 shares and 1,389,103 shares as of March 27, 2020 and June 28, 2019, respectively)	(68,501)	(47,779)
Accumulated other comprehensive loss	(10,383)	(2,386)
Retained earnings	840,038	754,583
Total Shareholders' Equity	933,409	863,099
Total Liabilities and Shareholders' Equity	$ 1,330,261	$ 1,255,318

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 27, 2020	Jun. 28, 2019
Preferred shares, shares authorized	5,000,000	5,000,000
Preferred shares, par value	$ 0.01	$ 0.01
Preferred shares, shares issued	0	0
Preferred shares, shares outstanding	0	0
Ordinary shares, shares authorized	500,000,000	500,000,000
Ordinary shares, par value	$ 0.01	$ 0.01
Ordinary shares, shares issued	38,460,931	38,230,753
Ordinary shares, shares outstanding	36,716,828	36,841,650
Treasury stocks, shares	1,744,103	1,389,103

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019	Mar. 27, 2020	Mar. 29, 2019
Revenues	$ 411,210	$ 398,951	$ 1,236,723	$ 1,179,208
Cost of revenues	(366,874)	(352,193)	(1,097,242)	(1,046,610)
Gross profit	44,336	46,758	139,481	132,598
Selling, general and administrative expenses	(17,111)	(14,132)	(50,189)	(41,296)
Expenses related to reduction in workforce		(323)	(16)	(727)
Operating income	27,225	32,303	89,276	90,575
Interest income	2,042	2,144	6,080	4,770
Interest expense	(238)	(1,423)	(2,812)	(3,673)
Foreign exchange loss, net	(8)	(3,055)	(2,949)	(408)
Other income, net	203	159	977	798
Income before income taxes	29,224	30,128	90,572	92,062
Income tax expense	(957)	(1,493)	(5,117)	(4,064)
Net income	28,267	28,635	85,455	87,998
Other comprehensive income (loss), net of tax:
Change in net unrealized (loss) gain on available-for-sale securities	(1,356)	513	(1,403)	1,399
Change in net unrealized loss on derivative instruments	(6,569)	(1)	(6,719)	(2)
Change in net retirement benefits plan – prior service cost	294		478
Change in foreign currency translation adjustment	(600)	486	(353)	(219)
Total other comprehensive (loss) income, net of tax	(8,231)	998	(7,997)	1,178
Net comprehensive income	$ 20,036	$ 29,633	$ 77,458	$ 89,176
Earnings per share
Basic	$ 0.76	$ 0.78	$ 2.31	$ 2.39
Diluted	$ 0.75	$ 0.76	$ 2.27	$ 2.35
Weighted-average number of ordinary shares outstanding (thousands of shares)
Basic	36,987	36,891	36,970	36,786
Diluted	37,797	37,539	37,696	37,383

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Ordinary Shares	Additional Paid-in Capital	Treasury Shares	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
Beginning Balance at Jun. 29, 2018	$ 740,939	$ 377	$ 151,797	$ (42,401)	$ (1,257)	$ 632,423
Beginning Balance (in shares) at Jun. 29, 2018		37,723,733
Net income	87,998					87,998
Other comprehensive (Loss) Income	1,178				1,178
Cumulative effect adjustment from adoption of ASC 606	1,205					1,205
Share-based compensation	13,373		13,373
Issuance of ordinary shares		$ 5	(5)
Issuance of ordinary shares (in shares)		492,498
Repurchase shares held as treasury shares	(5,378)			(5,378)
Tax withholdings related to net share settlement of restricted share units	(10,427)		(10,427)
Ending Balance at Mar. 29, 2019	828,888	$ 382	154,738	(47,779)	(79)	721,626
Ending Balance (in shares) at Mar. 29, 2019		38,216,231
Beginning Balance at Dec. 28, 2018	801,533	$ 381	151,639	(42,401)	(1,077)	692,991
Beginning Balance (in shares) at Dec. 28, 2018		38,138,159
Net income	28,635					28,635
Other comprehensive (Loss) Income	998				998
Share-based compensation	4,424		4,424
Issuance of ordinary shares		$ 1	(1)
Issuance of ordinary shares (in shares)		78,072
Repurchase shares held as treasury shares	(5,378)			(5,378)
Tax withholdings related to net share settlement of restricted share units	(1,324)		(1,324)
Ending Balance at Mar. 29, 2019	828,888	$ 382	154,738	(47,779)	(79)	721,626
Ending Balance (in shares) at Mar. 29, 2019		38,216,231
Beginning Balance at Jun. 28, 2019	863,099	$ 382	158,299	(47,779)	(2,386)	754,583
Beginning Balance (in shares) at Jun. 28, 2019		38,230,753
Net income	85,455					85,455
Other comprehensive (Loss) Income	(7,997)				(7,997)
Share-based compensation	18,301		18,301
Issuance of ordinary shares		$ 3	(3)
Issuance of ordinary shares (in shares)		230,178
Repurchase shares held as treasury shares	(20,722)			(20,722)
Tax withholdings related to net share settlement of restricted share units	(4,727)		(4,727)
Ending Balance at Mar. 27, 2020	933,409	$ 385	171,870	(68,501)	(10,383)	840,038
Ending Balance (in shares) at Mar. 27, 2020		38,460,931
Beginning Balance at Dec. 27, 2019	928,327	$ 384	166,103	(47,779)	(2,152)	811,771
Beginning Balance (in shares) at Dec. 27, 2019		38,408,890
Net income	28,267					28,267
Other comprehensive (Loss) Income	(8,231)				(8,231)
Share-based compensation	6,118		6,118
Issuance of ordinary shares		$ 1	(1)
Issuance of ordinary shares (in shares)		52,041
Repurchase shares held as treasury shares	(20,722)			(20,722)
Tax withholdings related to net share settlement of restricted share units	(350)		(350)
Ending Balance at Mar. 27, 2020	$ 933,409	$ 385	$ 171,870	$ (68,501)	$ (10,383)	$ 840,038
Ending Balance (in shares) at Mar. 27, 2020		38,460,931

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - shares	3 Months Ended		9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019	Mar. 27, 2020	Mar. 29, 2019
Treasury stocks, shares	355,000	100,000	355,000	100,000

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019
Cash flows from operating activities
Net income for the period	$ 85,455	$ 87,998
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	23,115	22,521
Loss on disposal of property, plant and equipment	444	81
Loss on disposal of intangibles		149
Gain from sales and maturities of available-for-sale securities	(93)	(196)
Accretion of premiums on short-term investments	(624)	(604)
Amortization of deferred debt issuance costs	18
(Reversal) allowance for doubtful accounts	(17)	12
Unrealized loss (gain) on exchange rate and fair value of foreign currency forward contracts	942	(5,351)
Unrealized loss on fair value of interest rate swaps	1,672	1,564
Amortization of fair value at hedge inception of interest rate swaps	(838)
Share-based compensation	18,301	13,373
Deferred income tax	1,335	438
Other non-cash expenses	(559)	(699)
Changes in operating assets and liabilities
Trade accounts receivable	(23,136)	(17,942)
Contract assets	(3,966)	(666)
Inventories	3,404	(36,418)
Other current assets and non-current assets	5,830	(1,568)
Trade accounts payable	(15,571)	37,576
Contract liabilities	(298)
Income tax payable	1,056	1,942
Severance liabilities	2,266	1,841
Other current liabilities and non-current liabilities	5,712	1,453
Net cash provided by operating activities	104,448	105,504
Cash flows from investing activities
Purchase of short-term investments	(123,980)	(202,328)
Proceeds from sales of short-term investments	48,808	85,941
Proceeds from maturities of short-term investments	97,358	50,370
Funds provided to customer to support transfer of manufacturing operations (Note 9)	(24,310)
Purchase of property, plant and equipment	(27,482)	(13,211)
Purchase of intangibles	(797)	(290)
Proceeds from disposal of property, plant and equipment	1,482	473
Net cash used in investing activities	(28,921)	(79,045)
Cash flows from financing activities
Payment of debt issuance costs	(153)
Proceeds from long-term borrowings	60,938
Repayment of long-term borrowings	(67,032)	(2,438)
Repayment of finance lease liabilities	(304)	(342)
Repurchase of ordinary shares	(20,722)	(5,378)
Release of restricted cash held in connection with business acquisition		(3,478)
Withholding tax related to net share settlement of restricted share units	(4,727)	(10,427)
Net cash used in financing activities	(32,000)	(22,063)
Net increase in cash, cash equivalents and restricted cash	43,527	4,396
Movement in cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at beginning of period	188,241	161,433
Increase in cash, cash equivalents and restricted cash	43,527	4,396
Effect of exchange rate on cash, cash equivalents and restricted cash	(228)	578
Cash, cash equivalents and restricted cash at end of period	231,540	166,407
Non-cash investing and financing activities
Construction, software and equipment-related payables	$ 11,906	$ 3,286

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands	Mar. 27, 2020USD ($)
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	$ 224,138
Restricted cash	7,402
Cash, cash equivalents and restricted cash	$ 231,540

Business and organization

Business and organization	9 Months Ended
	Mar. 27, 2020
Business and organization	1. Business and organization General Fabrinet (“Fabrinet” or the “Parent Company”) was incorporated on August 12, 1999, and commenced operations on January 1, 2000. The Parent Company is an exempted company incorporated in the Cayman Islands, British West Indies. The “Company” refers to Fabrinet and its subsidiaries as a group. The Company provides advanced optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (“OEMs”) of complex products, such as optical communication components, modules and sub-systems, low-volume, high-mix

Accounting policies

Accounting policies	9 Months Ended
	Mar. 27, 2020
Accounting policies	2. Accounting policies Basis of presentation The accompanying unaudited condensed consolidated financial statements for Fabrinet as of March 27, 2020 and for the three and nine months ended March 27, 2020 and March 29, 2019 include normal recurring adjustments necessary for a fair statement of the financial statements set forth herein, in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, such information does not include all of the information and footnotes required by U.S. GAAP for annual financial statements. For further information, please refer to the consolidated financial statements and footnotes thereto included in Fabrinet’s Annual Report on Form 10-K The balance sheet as of June 28, 2019 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The results for the three and nine months ended March 27, 2020 may not be indicative of results for the year ending June 26, 2020 or any future periods. Use of e The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, and the reported amount of total revenues and expenses during the year. The Company bases estimates on historical experience and various assumptions about the future that are believed to be reasonable based on available information. The Company’s reported financial position or results of operations may be materially different under different conditions or when using different estimates and assumptions, particularly with respect to significant accounting policies, which are discussed below. Significant assumptions are used in accounting for share-based compensation, allowance for doubtful accounts, income taxes, inventory obsolescence, goodwill and valuation of intangible assets related to business acquisitions, among others. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be different from these estimates. In the event that estimates or assumptions prove to be different from actual results, adjustments will be made in subsequent periods to reflect more current information. Fiscal years The Company utilizes a 52 to - Reclassifications For presentation purposes, certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications do not affect the Company’s net income, cash flows or stockholders’ equity. Changes in a p Except for the adoption of the new lease accounting standard and the derivatives and hedging standard described below, the Company has consistently applied its C Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, short-term investments, derivatives, accounts receivable and contract assets. Cash, cash equivalents and short-term investments are maintained with several financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate its credit risks by spreading such risks across multiple counterparties and monitoring the risk profiles of these counterparties. The Company limits its short-term investments in marketable securities to securities with a maturity not in excess of three years and securities that are rated A1, P-1, The Company enters into derivative contracts with financial institutions reputable The Company performs ongoing credit evaluations for credit worthiness of its customers and usually does not require collateral from its customers. Management has implemented a program to closely monitor near term cash collection and credit exposures to mitigate any material losses. Adoption of new accounting standards On June 29, 2019, the Company adopted the new lease accounting standard, Accounting Standards Codification (“ASC”) Topic 842, which provides guidance for the recognition and disclosure of lease arrangements. The Company adopted ASC 842 using the modified retrospective transition approach. Accordingly, the Company’s comparative financial statements as of June 28, 2019 have not been adjusted. ASC 842 also provides practical expedients for the Company’s ongoing accounting. The Company elected the short-term lease recognition exemption for its operating leases with a term of less than 12 months, which will not require recognition of right of use (“ROU”) assets or lease liabilities for these leases. For periods prior to adoption of ASC 842, the Company is required to present disclosures in accordance with ASC Topic 840. Future minimum lease payments due under non-cancelable operating leases as of June 28, 2019 were as follows: (amount in thousands) 2020 $ 1,746 2021 1,342 2022 1,219 2023 1,172 Thereafter 230 Total future minimum operating lease payments $ 5,709 The most significant impact of the adoption of ASC 842 was the recognition of ROU assets and lease liabilities for operating leases with a term of greater than 12 months, while the accounting for finance leases will remain substantially unchanged. See Note 11 for further details. On June 29, 2019, the Company also adopted Accounting Standards Update (“ASU”) 2017-12, 2017-12 2017-12, 2017-12, In March 2020, the Financial Accounting Standards Board (“FASB”) issued ASU 2020-04, New accounting pronouncements – not yet adopted by the Company In December 2019, the FASB issued ASU 2019-12, In August 2018, the FASB issued ASU 2018-13, 2018-13 In January 2017, the FASB issued ASU 2017-04, 2017-04 In June 2016, the FASB issued ASU 2016-13, available-for-sale 2018-19, 2019-04, 2019-05, 2019-11 2020-02, guidance and transition relief. For public business entities, this update

Revenues from contracts with cu

Revenues from contracts with customers	9 Months Ended
	Mar. 27, 2020
Revenues from contracts with customers	3. Revenues from contracts with customers The Company derives revenues primarily from the assembly of products under supply agreements with its customers and the fabrication of customized optics and glass. The Company recognizes revenue relating to contracts with customers that depicts the transfer of promised goods or services to customers in an amount reflecting the consideration to which the Company expects to be entitled in exchange for such goods or services. In order to meet this requirement, the Company applies the following five steps: (1) identify the contract with a customer, (2) identify the performance obligations under the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations under the contract, and (5) recognize revenue when a performance obligation is satisfied. Revenue is recognized net of any taxes collected from customers, which is subsequently remitted to governmental authorities. A performance obligation is a contractual promise to transfer a distinct good or service to the customer. In contracts with multiple performance obligations, the Company identifies each performance obligation and evaluates whether the performance obligation is distinct within the context of the contract at contract inception. The majority of the Company’s contracts have a single performance obligation, as the promise to transfer the individual goods or services is not separately identifiable from other promises under the contracts and, therefore, is not distinct. The Company manufactures products that are customized to customers’ specifications. However, control of the products is typically transferred to the customer at the point in time the product is either shipped or delivered, depending on the terms of the arrangement, as the criteria for recognizing revenue over time are not met. Based on a review of its contracts, the Company determined that it does not have contractual rights to bill profit for work in progress in the event of a contract termination, an event which is expected to be infrequent. Further, in limited circumstances, substantive acceptance by the customer will result in the deferral of revenue until acceptance is formally received from the customer. Judgment may be required in determining if the acceptance clause provides for substantive acceptance. Certain customers may request the Company to store finished products purchased by them at the Company’s warehouse. In these instances, the Company receives a written request from the customer asking the Company to hold the inventory at the Company’s warehouse, and the ordered goods cannot be used to fulfill other customer orders. In these situations, revenue is only recognized when the goods are completed and ready for shipment and transferred to the Company’s warehouse. Our customers generally are obligated to purchase finished goods that we have manufactured according to their demand requirements. Materials that are not consumed by our customers within a specified period of time, or that are no longer required due to a product’s cancellation or end-of-life, A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. In determining the transaction price, the Company evaluates whether the price is subject to refund or adjustment to determine the net consideration to which the Company expects to be entitled. The Company generally does not grant return privileges other than for defective products during the warranty period. The Company generally provides a warranty of between one The Company has applied the practical expedient to not adjust the amount of revenue to be recognized due to the effects of a significant financing component when the Company expects, at contract inception, that the period between the transfer of goods and/or services and the payment for those goods and/or services will be less than one year. Warranty provision Provisions for estimated expenses relating to pr o Contract assets and liabilities A contract asset is recognized when the Company has recognized revenues prior to generating an invoice for payment. Contract assets are classified separately within the unaudited condensed consolidated balance sheets and transferred to accounts receivable when rights to payment become unconditional. During the nine months ended March 27, 2020, the Company had no impairment for contract assets recognized. A contract liability is recognized when the Company has advance payment arrangements with customers. The contract liabilities balance is normally recognized as revenue within six months. The following tables summarize the activity in the Company’s contract assets and contract liabilities during the nine months ended March 27, 2020: (amount in thousands) Contract Beginning balance, June 28, 2019 $ 12,447 Revenue recognized 58,037 Amounts collected or invoiced (54,071 ) Ending balance, March 27, 2020 $ 16,413 (amount in thousands) Contract Liabilities Beginning balance, June 28, 2019 $ 2,239 Advance payment received during the period 6,857 Revenue recognized (7,155 ) Ending balance, March 27, 2020 $ 1,941 Contract costs The incremental costs of obtaining a contract with a customer are recognized as an asset (not expensed as incurred) if such costs are expected to be recovered. Incremental costs of obtaining a contract are costs that the Company would not have incurred if the contract had not been obtained (e.g., sales commissions or similar incentive payments linked directly to new or modified customer contracts). Costs that would have been incurred regardless of whether a customer contract was obtained (e.g., costs of pursuing the contact, legal advice, etc.) are expensed as incurred, unless such costs are explicitly chargeable to the customer. During the nine months ended Shipping and handling Shipping costs billed to customers are recorded as revenue. Shipping and handling expense related to costs incurred to deliver product are recognized within cost of goods sold. The Company accounts for shipping and handling activities that occur after control has transferred as a fulfillment cost as opposed to a separate performance obligation, and the costs of shipping and handling are recognized concurrently with the related revenue. Revenue by geographic area Total revenues are attributed to a particular geographic area based on the bill-to-location The following tables present total revenues by geographic region : (amount in thousands, except percentages) Three Months As a % of Total Nine Months As a % of Total North America $ 206,751 50.3 % $ 631,096 51.0 % Asia-Pacific 141,639 34.4 401,209 32.5 Europe 62,820 15.3 204,418 16.5 Total $ 411,210 100.0 % $ 1,236,723 100.0 % (amount in thousands, except percentages) Three Months As a % of Total Nine Months As a % of Total North America $ 195,504 49.0 % $ 558,028 47.3 % Asia-Pacific 151,263 37.9 469,921 39.9 Europe 52,184 13.1 151,259 12.8 Total $ 398,951 100.0 % $ 1,179,208 100.0 % The following tables set forth our revenues by end market: (amount in thousands, except percentages) Three Months 7 20 As a % of Total Nine Months 7 20 As a % of Total Optical communications $ 308,566 75.0 % $ 933,013 75.4 % Lasers, sensors and other 102,644 25.0 303,710 24.6 Total $ 411,210 100.0 % $ 1,236,723 100.0 % (amount in thousands, except percentages) Three Months As a % of Total Nine Months As a % of Total Optical communications $ 298,139 74.7 % $ 884,454 75.0 % Lasers, sensors and other 100,812 25.3 294,754 25.0 Total $ 398,951 100.0 % $ 1,179,208 100.0 %

Earnings per ordinary share

Earnings per ordinary share	9 Months Ended
	Mar. 27, 2020
Earnings per ordinary share	4. Earnings per ordinary share Basic earnings per ordinary share is computed by dividing reported net income by the weighted-average number of ordinary shares outstanding during each period. Diluted earnings per ordinary share is computed by calculating the effect of potential dilutive ordinary shares outstanding during the period using the treasury stock method. Dilutive ordinary equivalent shares consist of restricted share units and performance share units. Earnings per ordinary share was calculated as follows: Three Months Ended Nine Months Ended (amount in thousands except per share amounts) March 27, March 29, March 27, 2020 March 29, 2019 Net income attributable to shareholders $ 28,267 $ 28,635 $ 85,455 $ 87,998 Weighted-average number of ordinary shares outstanding (thousands of shares) 36,987 36,891 36,970 36,786 Incremental shares arising from the assumed vesting of restricted share units and performance share units (thousands of shares) 810 648 726 597 Weighted-average number of ordinary shares for diluted earnings per ordinary share (thousands of shares) 37,797 37,539 37,696 37,383 Basic earnings per ordinary share $ 0.76 $ 0.78 $ 2.31 $ 2.39 Diluted earnings per ordinary share $ 0.75 $ 0.76 $ 2.27 $ 2.35 Outstanding performance share units excluded from the computation of diluted earnings per ordinary share (thousands of shares) (1) 50 401 50 401 (1) These performance share units were not included in the computation of diluted earnings per ordinary share because they are not expected to vest based on the Company’s current assessment of the related performance obligations.

Cash, Cash Equivalents and Shor

Cash, Cash Equivalents and Short-Term Investments	9 Months Ended
	Mar. 27, 2020
Cash, cash equivalents and short-term investments	5. Cash, cash equivalents and short-term investments The Company’s cash, cash equivalents, and short-term investments by category is as follows: Fair Value (amount in thousands) Carrying Cost Unrealized Cash and Marketable Other As of March 27, 2020 Cash $ 202,610 $ — $ 202,610 $ — $ — Cash equivalents 21,528 — 21,528 — — Liquidity funds 20,954 — — — 20,954 Certificates of deposit and time deposits 20,000 — — — 20,000 Corporate debt securities 132,877 (1,439 ) — 131,438 — U.S. agency and U.S. Treasury securities 60,497 733 — 61,230 — Total $ 458,466 $ (706 ) $ 224,138 $ 192,668 $ 40,954 As of June 28, 2019 Cash $ 178,019 $ — $ 178,019 $ — $ — Cash equivalents 2,820 — 2,820 — — Liquidity funds 20,552 — — — 20,552 Certificates of deposit and time deposits 35,028 — — — 35,028 Corporate debt securities 130,959 297 — 131,256 — U.S. agency and U.S. Treasury securities 69,552 105 — 69,657 — Total $ 436,930 $ 402 $ 180,839 $ 200,913 $ 55,580 All highly liquid investments with original maturities of three months or less at the date of purchase are classified as cash equivalents. Management determines the appropriate classification of its investments at the time of purchase and re-evaluates available-for-sale. The following table summarizes the cost and estimated fair value of short-term investments classified as available-for-sale March 27, 2020 June 28, 2019 (amount in thousands) Carrying Fair Carrying Fair Due within one year $ 30,448 $ 30,472 $ 69,746 $ 69,830 Due between one to five years 162,926 162,196 130,765 131,083 Total $ 193,374 $ 192,668 $ 200,511 $ 200,913 During the nine months ended March 27, 2020, the Company recognized a realized gain of $0.1 million available-for-sale As of March 27, 2020, the Company considered the decline in market value of its short-term investments portfolio to be temporary in nature and did not consider any of its securities other-than-temporarily impaired. The Company typically invests in highly-rated securities, and its investment policy generally limits the amount of credit exposure to any one issuer. The policy requires investments generally to be investment grade, with the primary objective of minimizing the potential risk of principal loss. Fair values were determined for each individual security in the investment portfolio. When evaluating an investment for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below its cost basis, the financial condition of the issuer and any changes thereto, changes in market interest rates, and the Company’s intent to sell, or whether it is more likely than not it will be required to sell, the investment before recovery of the investment’s cost basis. No impairment losses were recorded for the nine months ended March 27, 2020.

Fair value of financial instrum

Fair value of financial instruments	9 Months Ended
	Mar. 27, 2020
Fair value of financial instruments	6. Fair value of financial instruments Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. A fair value hierarchy is established , Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for assets or liabilities, either directly or indirectly. If the assets or liabilities have a specified (contractual) term, Level 2 inputs must be observable for substantially the full term of assets or liabilities. Level 3 inputs are unobservable inputs for assets or liabilities, which require the reporting entity to develop its own valuation techniques and assumptions. The Company utilizes the market approach to measure fair value for its financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. The following table provides details of the financial instruments measured at fair value on a recurring basis, including: Fair Value Measurements at Reporting Date Using (amount in thousands) Level 1 Level 2 Level 3 Total As of March 27, 2020 Assets Cash equivalents $ — $ 21,528 $ — $ 21,528 Liquidity funds — 20,954 — 20,954 Certificates of deposit and time deposits — 20,000 — 20,000 Corporate debt securities — 131,438 — 131,438 U.S. agency and U.S. Treasury securities — 61,230 — 61,230 Derivative assets — — — — Total $ — $ 255,150 $ — $ 255,150 Liabilities Derivative liabilities $ — $ 11,977 (1) $ — $ 11,977 Total $ — $ 11,977 $ — $ 11,977 Fair Value Measurements at Reporting Date Using (amount in thousands) Level 1 Level 2 Level 3 Total As of June 28, 2019 Assets Cash equivalents $ — $ 2,820 $ — $ 2,820 Liquidity funds — 20,552 — 20,552 Certificates of deposit and time deposits — 35,028 — 35,028 Corporate debt securities — 131,256 — 131,256 U.S. agency and U.S. Treasury securities — 69,657 — 69,657 Derivative assets — 2,201 (2) — 2,201 Total $ — $ 261,514 $ — $ 261,514 Liabilities Derivative liabilities $ — $ 2,591 (3) $ — $ 2,591 Total $ — $ 2,591 $ — $ 2,591 (1) Foreign currency forward and option contracts with a notional amount of $126.0 million and Canadian dollars of $0.7 million , (2) Foreign currency forward contracts with notional amount of $72.0 million and Canadian dollars of $0.6 million. (3) Interest rate swap agreement with a notional amount of $64.2 million. Derivative financial instruments The Company utilizes derivative financial instruments to hedge (i) foreign exchange risk associated with certain foreign currency denominated assets and liabilities and other foreign currency transactions, and (ii) interest rate risk associated with its long-term debt. The Company minimizes the credit risk associated with its derivative instruments by limiting the exposure to any single counterparty and by entering into derivative instruments only with counterparties that meet the Company’s minimum credit quality standard. Foreign currency forward and option contracts As a result of foreign currency rate fluctuations, the U.S. dollar equivalent values of the Company’s foreign currency denominated assets and liabilities fluctuate. The Company uses foreign currency contracts to manage the foreign exchange risk associated with a portion of its foreign currency denominated assets and liabilities and other foreign currency transactions. The Company enters into foreign currency forward and option contracts to hedge fluctuations in the U.S. dollar value of forecasted transactions denominated in Thai baht and Canadian dollars. The Company may enter into foreign currency forward contracts to hedge flu ctu de-designating The Company may also enter into non-designated re-measurement non-designated As of March 27, 2020, the Company had 100 outstanding U.S. dollar foreign currency forward contracts against Thai baht , and T During the three and nine months ended March 27, 2020, the Company de-designated 20 foreign currency forward contracts against the Thai baht that had previously been designated as cash flow hedges and reclassified a loss of $1.7 million from accumulated other comprehensive income to foreign exchange loss, net, cost of revenues, and selling, general and administrative expenses in the unaudited condensed consolidated statements of operations and comprehensive income. As of March 29, 2019, the Company had no foreign currency forward contracts designated as cash flow hedges. As of March 27, 2020, the Company had 20 outstanding U.S. dollar foreign currency forward contracts with an aggregate notional amount of $24.0 million, one outstanding U.S. dollar foreign currency option contract with a notional amount of $1.0 million , and b s As of March 29, 2019, the Company had 45 outstanding U.S. dollar foreign currency forward contracts with an aggregate notional amount of $98.0 million, one outstanding U.S. dollar foreign currency option contract with a notional amount of $5.0 million , , and b s As of March 27, 2020, the amount in a cc comprehensive Interest r s a The Company entered into interest rate swap agreements to mitigate interest rate risk and improve the interest rate profile of the Company’s debt obligations. As of March 27, 2020, the Company had two outstanding interest rate swap agreements with an aggregate notional amount of $125.1 million. As of June 28 On July 25, 2018, Fabrinet Thailand entered into an interest rate swap agreement to effectively convert the floating interest rate of its term loan under the Bank of America Credit Facility Agreement to a fixed interest rate of 2.86% per annum through the scheduled maturity of the term loan in June 2023 (see Note 14). The Company did not designate this interest rate swap for hedge accounting. On September 3, 2019, the Company drew down a term loan under a new Credit Facility Agreement with the Bank of Ayudhya Public Company Limited (the “Bank”) (see Note 14) and on September 10, 2019, repaid in full the outstanding term loan under the Bank of America Credit Facility (see Note 14). In conjunction with the funding of the new term loan, the Company entered into a second interest rate swap agreement. The combination of both of these interest rate swaps effectively convert the floating interest rate of the Company’s term loan with the Bank to a fixed interest rate of % per annum through the maturity of the term loan in . On September 27, 2019, the Company designated these two interest rate swaps as a cash flow hedge for the Company’s term loan under the Credit Facility Agreement with the Bank. The combination of these two interest rate swaps qualified for hedge accounting based on a regression testing result which proved the hedges are highly effective. In addition, the Company has designated and documented contemporaneously the hedging relationships involving these interest rate swaps. At least quarterly, the Company performs a qualitative effectiveness test on the interest rate swaps to support the continued application of hedge accounting. As of March 27, 2020, the hedging relationship was determined to be highly effective based on the performance of a qualitative effectiveness testing. While the Company intends to continue to meet the conditions for hedge accounting, if hedges do not qualify as highly effective, the changes in the fair value of the derivatives used as hedges would be reflected in earnings. From September 27, 2019, any gains or losses related to these interest rate swaps will be recorded in accumulated other comprehensive income in the unaudited condensed consolidated balance sheets, with a portion reclassified from accumulated other comprehensive income into earnings at each reporting period based on either the accrued interest amount or the interest payment. As of March 27, 2020, the amount in accumulated other comprehensive income that is expected to be reclassified into earnings within 12 months is $17 thousand. Prior to September 27, 2019, these interest rate swaps were not designated as cash flow hedges and all changes in the fair value of these interest rate swaps were reflected in earnings. During the nine months ended March 27, 2020 and March 29, 2019, the Company recorded unrealized loss of $1.7 million and $1.6 million, respectively, from changes in the fair value of these interest rate swaps as interest expense in the unaudited condensed consolidated statements of operations and comprehensive income. The following table provides a summary of the impact of derivative gain (loss) of the Company’s foreign currency forward contracts and interest rate swaps which were designated as cash flow hedges on the unaudited condensed consolidated statements of operations and other comprehensive income: Three Months Ended Nine Months Ended (amount in thousands) Financial statements line item March 27, March 29, March 27, March 29, Derivatives gain (loss) recognized in other comprehensive income: Foreign currency forward contracts Other comprehensive income $ (6,609 ) $ — $ (6,609 ) $ — Interest rate swaps Other comprehensive income (1,239 ) — (956 ) — Total derivatives loss recognized in other comprehensive income $ (7,848 ) $ — $ (7,565 ) $ — Derivatives gain (loss) reclassified from accumulated other comprehensive income into earnings: Foreign currency forward contracts Cost of revenues $ 14 $ — $ 14 $ — Foreign currency forward contracts SG&A 1 — 1 — Foreign currency forward contracts Foreign exchange loss, net 1,669 — 1,669 — Interest rate swaps Interest expense (405 ) — (838 ) — Total derivatives gain reclassified from accumulated other comprehensive income into earnings $ 1,279 $ — $ 846 $ — Change in net unrealized loss on derivatives instruments $ (6,569 ) $ — $ (6,719 ) $ — Fair value of derivatives The following table provides the fair values of the Company’s derivative financial instruments for the periods presented: (amount in thousands) March 27, 2020 June 28, 2019 Derivative Derivative Derivative Derivative Derivatives not designated as hedging instruments Foreign currency forward and option contracts $ — $ (1,833 ) $ 2,201 $ — Interest rate swaps — — — (2,591 ) Derivatives designated as hedging instruments Foreign currency forward contracts $ 31 $ (4,956 ) $ — $ — Interest rate swaps 83 (5,302 ) — — Derivatives, gross balances $ 114 $ (12,091 ) $ 2,201 $ (2,591 ) Derivatives, gross balances offset in the balance sheet (114 ) 114 — — Derivatives, net balances $ — $ (11,977 ) $ 2,201 $ (2,591 ) The Company presents its derivatives at net fair values in the unaudited condensed consolidated balance sheets. The The Company recorded the fair value of derivative financial instruments in the unaudited condensed consolidated balance sheets as follows: Derivative Financial Instruments Balance Sheet Line Item Fair Value of Derivative Assets Other current assets Fair Value of Derivative Liabilities Accrued expenses

Trade accounts receivable, net

Trade accounts receivable, net	9 Months Ended
	Mar. 27, 2020
Trade accounts receivable, net	7. Trade accounts receivable, net (amount in thousands) As of March 27, 2020 As of June 28, 2019 Trade accounts receivable $ 283,546 $ 260,698 Less: allowance for doubtful account (79 ) (96 ) Trade accounts receivable, net $ 283,467 $ 260,602

Inventories

Inventories	9 Months Ended
	Mar. 27, 2020
Inventories	8. Inventories (amount in thousands) As of March 27, 2020 As of June 28, 2019 Raw materials $ 118,729 $ 113,321 Work-in-progress 141,646 141,730 Finished goods 18,779 24,916 Goods in transit 11,054 13,645 Inventories $ 290,208 $ 293,612

Other receivable

Other receivable	9 Months Ended
	Mar. 27, 2020
Receivables [Abstract]
Other receivable	9. Other receivable On October 1, 2019, the Company provided funds in the amount of $24.3 million to a customer to support the customer’s transfer of certain manufacturing operations from Berlin, Germany to the Company’s facilities in Thailand. T h s of funds as other receivable in the unaudited condensed consolidated balance sheet. For the nine months ended March 27, 2020, the Company classified th e e

Restricted cash

Restricted cash	9 Months Ended
	Mar. 27, 2020
Restricted cash	10. Restricted cash As of March 27, 2020 and June 28, 2019, the Company had one outstanding standby letter of credit of 6.0 million Euros, related to the Company’s support of a customer’s transfer of certain manufacturing operations from Berlin, Germany to the Company’s facilities in Thailand. As of March 27, 2020 and June 28, 2019, the standby letter of credit was backed by cash collateral of $7.4 million.

Leases

Leases	9 Months Ended
	Mar. 27, 2020
Leases	11. Leases The Company leases facilities under non-cancelable s one None of the lease agreements contain residual value guarantees provided by the The Company also has one intercompany lease transaction which is a lease of office and manufacturing space between Fabritek and Fabrinet West. Operating leases The Company determines if an arrangement contains a lease at inception. The Company applies the guidance in ASC 842 to determine whether a contract is, or contains, a lease. A contract is or contains a lease if the contract conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration. Operating leases are included in operating lease ROU assets and operating lease liabilities within the Company’s unaudited condensed consolidated balance sheets. The Company rents certain real estate under agreements that are classified as operating leases. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of future payments. The operating lease ROU assets also include any lease payments made and exclude lease incentives and initial direct costs incurred. Variable lease payments are expensed as incurred and are not included within the ROU asset and lease liability calculation. Variable lease payments primarily include reimbursements of costs incurred by lessors for common area maintenance and utilities. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. The Company does not account for lease components (e.g., fixed payments including rent) separately from the non-lease The following table shows the impact of adoption of ASC 842 on the adoption date of June 29, 2019 on the consolidated balance sheets: Consolidated Balance Sheets Impact of Adopting ASC 842 (amount in thousands) Balance at Adjustment Balance at Assets Operating lease ROU assets $ — $ 5,370 $ 5,370 Liabilities and Shareholders’ Equity Operating lease liabilities, current $ — $ 1,601 $ 1,601 Operating lease liabilities, non-current $ — $ 3,769 $ 3,769 As of March 27, 2020, the maturities of the Company’s operating lease liabilities were as follows: (amount in thousands) 2020 (remaining three months) $ 486 2021 2,131 2022 2,000 2023 1,895 2024 878 Thereafter 15 Total undiscounted lease payments 7,405 Less i (488 ) Total present value of lease liabilities $ 6,917 (1) (1) Include s Rental expense related to the Company’s operating leases is recognized on a straight-line basis over the lease term. Rental expense for long-term leases for the three and nine months ended March 27, 2020 was $0.5 million and $1.5 million, respectively. Rental expense for short-term leases for the three and nine months ended March 27, 2020 and March 29, 2019 was de minimis. The following summarizes additional information related to the Company’s operating leases and fi nance As of March 27, 2020 Weighted-average remaining lease term (in years) Operating leases 3.7 Finance leases 0.5 Weighted-average discount rate Operating leases 3.8 % Finance leases 4.1 % The following information represents supplemental disclosure for the statement of cash flows related to operating and finance leases: (amount in thousands) Nine Months Ended March 27, 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 1,794 Financing cash flows from finance leases $ 304 ROU assets obtained in exchange for lease liabilities $ 7,175 Finance lease assets $ 157

Intangibles

Intangibles	9 Months Ended
	Mar. 27, 2020
Intangibles	12. Intangibles The following tables present details of the Company’s intangibles: (amount in thousands) Gross Accumulated Foreign Net As of March 27, 2020 Software $ 7,689 $ (5,365 ) $ — $ 2,324 Customer relationships 4,373 (2,551 ) (147 ) 1,675 Backlog 119 (119 ) — — Total intangibles $ 12,181 $ (8,035 ) $ (147 ) $ 3,999 ( Gross Accumulated Foreign Net As of June 28, 2019 Software $ 6,582 $ (4,868 ) $ — $ 1,714 Customer relationships 4,373 (2,096 ) (104 ) 2,173 Backlog 119 (119 ) — — Total intangibles $ 11,074 $ (7,083 ) $ (104 ) $ 3,887 Based on the carrying amount of intangibles as of March 27, 2020, and assuming no future impairment of the underlying assets, the estimated future amortization during each fiscal year was as follows: (amount in thousands) 2020 (remaining three months) $ 628 2021 1,139 2022 908 2023 650 2024 423 Thereafter 251 Total $ 3,999

Goodwill

Goodwill	9 Months Ended
	Mar. 27, 2020
Goodwill	13. Goodwill The changes in the carrying amount of goodwill from the acquisition of Fabrinet UK were as follows: (amount in thousands) Goodwill Balance as of June 28, 2019 $ 3,705 Foreign currency translation adjustment (134 ) Balance as of March 27, 2020 $ 3,571 Goodwill is not deductible for tax purposes. Goodwill is reviewed annually for impairment or more frequently whenever changes or circumstances indicate the carrying amount of goodwill may not be recoverable. During the nine months ended March 27, 2020 and March 29, 2019, there were no goodwill impairment losses.

Borrowings

Borrowings	9 Months Ended
	Mar. 27, 2020
Borrowings	14. Borrowings The Company’s total borrowings, including current non-current (amount in thousands) Rate Conditions Maturity As of March 27, 2020 As of June 28, 2019 Long-term borrowings, current portion, net: Long-term borrowings, current portion $ 12,188 $ 3,250 Less: Unamortized debt issuance costs – current portion (32 ) — Long-term borrowings, current portion, net $ 12,156 $ 3,250 Long-term borrowings, non-current Term loan borrowings: 1-month (1) Repayable in quarterly installments June 2023 $ — $ 60,938 3-month LIBOR (1) Repayable in quarterly installments June 2024 54,844 — Less: Current portion (12,188 ) (3,250 ) Less: Unamortized debt issuance costs – non-current (103 ) — Long-term borrowings, non-current $ 42,553 $ 57,688 (1) We have entered into interest rate swaps that effectively fix a series of our future interest payments on our term loans. Refer to Note 6. The movements of long-term borrowings for the nine months ended March 27, 2020 and March 29, 2019 were as follows: Nine Months Ended (amount in thousands) March 27, 2020 March 29, 2019 Opening balance $ 60,938 $ 64,188 Borrowings during the period 60,938 — Repayments during the period (67,032 ) (2,438 ) Closing balance $ 54,844 $ 61,750 As of March 27, 2020, future maturities of long-term borrowings during each fiscal year were as follows: (amount in thousands) 2020 (remaining three months) $ 3,046 2021 12,188 2022 15,234 2023 12,188 2024 12,188 Total $ 54,844 Credit facility agreements: Bank of Ayudhya Public Company Limited On August 20, 2019, Fabrinet Thailand (the “Borrower”) and Bank of Ayudhya Public Company Limited (the “Bank”) entered into a Credit Facility Agreement (the “Credit Facility Agreement”). The Credit Facility Agreement provides for a facility of 110.0 million Thai b The Bank may approve any request for extension of credit under the Credit Facility Agreement and may increase or decrease any facility amount in its sole discretion. Under the Credit Facility Agreement, on August 20, 2019, the Borrower and the Bank entered into a Term Loan Agreement pursuant to which the Borrower drew down on September 3, 2019 a term loan in the original principal amount of $60.9 million. The proceeds from the term loan, together with cash on hand, were used to repay outstanding obligations under the Company’s previous credit facility agreement with Bank of America, N.A. The term loan accrues interest at 3-month LIBOR plus 1.35% and is repayable in quarterly installments of $3.0 million, commencing on September 30, 2019. The term loan will mature on June 30, 2024. The Borrower may prepay the term loan in whole or in part at any time without premium or penalty. Any portion of the term loan repaid or prepaid may not be re-borrowed. During the three and nine months ended March 27, 2020, the Company recorded $0.5 million and $1.1 million, respectively, of interest expense in connection with this term loan. Any borrowings under the Credit Facility Agreement, including those borrowings under the Term Loan Agreement, are guaranteed by Fabrinet and secured by land and buildings owned by the Borrower in the Pathumthani and Chonburi Provinces in Thailand. The Term Loan Agreement contains affirmative and negative covenants applicable to the Borrower, including delivery of financial statements and other information, compliance with laws, maintenance of insurance, restrictions on granting security interests or liens on its assets, disposing of its assets, incurring indebtedness and making acquisitions. While the term loan is outstanding, the Borrower is required to maintain a loan to value of the mortgaged real property ratio of not greater than 65%. If the loan to value ratio is not maintained, the Borrower will be required to provide additional security or prepay a portion of the term loan in order to restore the required ratio. The Company is also required to maintain a debt service coverage ratio of at least 1.25 times and a debt to equity ratio less than or equal to 1.0 times. In the case of any payment of a dividend by the Company, its debt service coverage ratio must be at least 1.50 times. At March 27, 2020, the Company was in compliance with all of its covenants under the Term Loan Agreement. The events of default in the Term Loan Agreement include failure to pay amounts due under the Term Loan Agreement or the related finance documents when due, failure to comply with the covenants under the Term Loan Agreement or the related finance documents, cross default with other indebtedness of the Borrower, events of bankruptcy or insolvency in respect of the Borrower, and the occurrence of any event or series of events that in the opinion of the Bank has or is reasonably likely to have a material adverse effect. At March 27, 2020, there was $54.8 million outstanding under the term loan. Bank of America, N.A. On May 22, 2014, the Company and a consortium of banks entered into a syndicated From time to time, the Company The most recent amendment on June 4, 2018 (i) reduced the revolving commitments thereunder from $150.0 million to $25.0 million, (ii) refinanced the outstanding amounts under the revolving loan and term loan facilities into a $65.0 million term loan which was to be repaid in quarterly installments through the maturity date of June 4, 2023, and (iii) reduced the interest rate margins and commitment fees. The term loan bore interest, at the Company’s option, at a rate per annum equal to a LIBOR rate plus a spread of 1.50% to 2.25%, or a base rate plus a spread of 0.50% to 1.25%. During the nine months ended March 27, 2020 and March 29, 2019, the Company recorded $0.5 million and $1.8 million, respectively, of interest expense in connection with this term loan. On September 10, 2019, the Company fully repaid $61.0 million in principal, accrued interest and other fees under the agreement. The early termination of this agreement did not trigger any early termination fees. At March 27, 2020, there were no amounts outstanding under the Bank of America Facility Agreement. At June 28, 2019, there was $60.9 million outstanding

Income taxes

Income taxes	9 Months Ended
	Mar. 27, 2020
Income taxes	15. Income taxes As of March 27, 2020 and June 28, 2019, the liability for uncertain tax positions including accrued interest and penalties was $1.5 million and $2.1 million, respectively. The Company expects the estimated amount of liability associated with its uncertain tax positions to decrease within the next 12 months due to the lapse of the applicable statute of limitations in foreign tax jurisdictions. The Company files income tax returns in the United States and foreign tax jurisdictions. As of March 27, 2020, the tax years from 2014 t hrough tax authorities in the The Company’s effective tax rate for the three months ended March 27, 2020 and March 29, 2019 was 2.4% and 5.2%, respectively, of net income. The de lower income subject to tax during the three months ended March 27, 2020, compared with the three months ended March 29, 2019. The Company’s effective tax rate for the nine months ended March 27, 2020 and March 29, 2019 was 4.2% and 5.2%, respectively, of net income. The decrease was primarily due to the fact that the Company had lower income subject to tax during the nine months ended March 27, 2020 as compared to the nine months ended March 29, 2019.

Share-based compensation

Share-based compensation	9 Months Ended
	Mar. 27, 2020
Share-based compensation	16. Share-based compensation Share-based compensation The grant date fair value of restricted share units and performance share units is based on the market value of our ordinary shares on the date of grant. The effect of recording share-based compensation expense for the three and nine months ended March 27, 2020 and March 29, 2019 was as follows: Three Months Ended Nine Months Ended (amount in thousands) March 27, March 29, March 27, 2020 March 29, 2019 Share-based compensation expense by type of award Restricted share units 4,094 3,621 12,678 11,650 Performance share units 2,024 803 5,623 1,723 Total share-based compensation expense 6,118 4,424 18,301 13,373 Tax effect on share-based compensation expense — — — — Net effect on share-based compensation expense $ 6,118 $ 4,424 $ 18,301 $ 13,373 Share-based compensation expense was recorded in the unaudited condensed consolidated statements of operations and comprehensive income as follows: Three Months ended Nine Months Ended (amount in thousands) March 27, March 29, March 27, 2020 March 29, 2019 Cost of revenue $ 1,489 $ 1,237 $ 4,800 $ 4,384 Selling, general and administrative expense 4,629 3,187 13,501 8,989 Total share-based compensation expense $ 6,118 $ 4,424 $ 18,301 $ 13,373 The Company did not capitalize any share-based compensation expense as part of any asset costs during the three and nine months ended March 27, 2020 and March 29, 2019. Share-based award activity On December 12, 2019, the Company’s shareholders approved Fabrinet’s 2020 Equity Incentive Plan (the “2020 Plan”). Upon the approval of the 2020 Plan, Fabrinet’s Amended and Restated 2010 Performance Incentive Plan (the “2010 Plan”) was simultaneously terminated. The 2020 Plan provides for the grant of equity awards thereunder with respect to (i) 1,700,000 ordinary shares, plus (ii) up to 1,300,000 ordinary shares that, as of immediately prior to the termination of the 2010 Plan, had been reserved but not issued pursuant to any awards granted under the 2010 Plan and are not subject to any awards thereunder. Upon termination of the 2010 Plan, 1,281,619 ordinary shares were reserved for issuance under the 2020 Plan pursuant to clause (ii) of the preceding sentence. As of March 27, 2020, there were 30,262 restricted share units outstanding, 3,836 performance share units outstanding and 2,946,847 ordinary shares available for future grant under the 2020 Plan. As of March 27, 2020, there were 739,838 restricted share units and 436,304 performance share units outstanding under the 2010 Plan. ordinary shares are available for future grant under the 2010 Plan. On November 2, 2017, the Company adopted the 2017 Inducement Equity Incentive Plan (the “2017 Inducement Plan”) with a reserve of 160,000 ordinary shares authorized for future issuance solely for the granting of inducement share options and equity awards to new employees. The 2017 Inducement Plan was adopted without shareholder approval in reliance on the “employment inducement exemption” provided under the New York Stock Exchange Listed Company Manual. As of March 27, 2020, there were an aggregate of 24,327 restricted share units outstanding and 111,347 ordinary shares available for future grant under the 2017 Inducement Plan. The 2010 Plan, 2017 Inducement Plan and 2020 Plan are collectively referred to as the “Equity Incentive Plans.” Restricted share units and performance share units Restricted share units and performance share units have been granted under the 2010 Plan, the 2017 Inducement Plan, and the 2020 Plan. Restricted share units granted to employees generally vest in equal installments over three non-employee Performance share units granted to executives will vest, if at all, at the end of a two pre-defined non-GAAP or The following table summarizes restricted share unit activity under the Equity Incentive Plans: Number Shares Weighted- Per Share Balance as of June 28, 2019 800,751 $ 42.48 Granted 343,792 $ 50.32 Issued (321,659 ) $ 40.82 Forfeited (28,457 ) $ 42.80 Balance as of March 27, 2020 794,427 $ 46.54 Number of Shares Weighted- Balance as of June 29, 2018 1,073,580 $ 35.19 Granted 341,748 $ 48.77 Issued (496,854 ) $ 34.08 Forfeited (104,194 ) $ 38.50 Balance as of March 29, 2019 814,280 $ 41.14 The following table summarizes performance share unit activity under the Equity Incentive Plans: Number of Shares Weighted- Per Share Balance as of June 28, 2019 548,500 $ 40.97 Granted 242,310 $ 48.65 Issued — — Forfeited (350,670 ) $ 36.99 Balance as of March 27, 2020 440,140 $ 48.37 Number of Shares Weighted- Per Share Balance as of June 29, 2018 605,892 $ 38.41 Granted 201,994 $ 48.02 Issued (227,268 ) $ 40.48 Forfeited (27,954 ) $ 39.35 Balance as of March 29, 2019 552,664 $ 41.02 As of March 27, 2020, there was $15.0 million and $7.7 million of unrecognized share-based compensation expense related to restricted share units and performance share units, respectively, under the Equity Incentive Plans that is expected to be recorded over a weighted-average period of 2.5 years and 1.3 years, respectively. For the nine months ended March 27, 2020 and March 29, 2019, the Company withheld an aggregate of 91,481 shares and 231,624 shares, respectively, upon the vesting of restricted share units, based upon the closing share price on the vesting date to settle the employees’ minimum statutory obligation for the applicable income and other employment taxes. For the nine months ended March 27, 2020 and March 29, 2019, the Company then remitted cash of $4.7 million and $10.4 million, respectively, to the appropriate taxing authorities, and presented it as a financing activity within the unaudited condensed consolidated statements of cash flows. The payment was recorded as a reduction of additional paid-in

Shareholders' equity

Shareholders' equity	9 Months Ended
	Mar. 27, 2020
Shareholders' equity	17. Shareholders’ equity Share capital The Company’s authorized share capital is 500,000,000 ordinary shares, par value of $0.01 per ordinary share, and 5,000,000 preferred shares, par value of $0.01 per preferred share. For the three and nine months ended March 27, 2020, the Company issued 52,041 and 230,178 ordinary shares, respectively, upon the vesting of restricted share units, net of shares withheld. For the three and nine months ended March 29, 2019, the Company issued 78,072 and 492,498 ordinary shares, respectively, upon the vesting of restricted share units, net of shares withheld. All such issued shares are fully paid. Treasury shares In August 2017, the Company’s board of directors approved a share repurchase program to permit the Company to repurchase up to $30.0 million worth of its issued and outstanding ordinary shares in the open market in accordance with applicable rules and regulations. In February 2018 and May 2019, the Company’s board of directors approved an increase of $30.0 million and $50.0 million, respectively, to the original share repurchase authorization, bringing the aggregate authorization to $110.0 million. During the three and nine months ended March 27, 2020, 355,000

Accumulated other comprehensive

Accumulated other comprehensive income (loss) ("AOCI")	9 Months Ended
	Mar. 27, 2020
Accumulated other comprehensive income (loss)	18. Accumulated other comprehensive income (loss) (“AOCI”) The changes in AOCI for the nine months ended March 27, 2020 and March 29, 2019 were as follows: (amount in thousands) Unrealized net (Losses)/Gains on Available-for-sale Unrealized net (Losses)/Gains Instruments Retirement Foreign Total Balance as of June 28, 2019 $ 952 $ 32 $ (2,537 ) $ (833 ) $ (2,386 ) Other comprehensive income before reclassification adjustment (1,310 ) (7,565 ) 478 (353 ) (8,750 ) Amounts reclassified out of AOCI to the unaudited (93 ) 846 — — 753 Tax effects — — — — — Other comprehensive income (loss) $ (1,403 ) $ (6,719 ) $ 478 $ (353 ) $ (7,997 ) Balance as of March 27, 2020 $ (451 ) $ (6,687 ) $ (2,059 ) $ (1,186 ) $ (10,383 ) (amount in thousands) Unrealized net (Losses)/Gains on Available-for-sale Unrealized net (Losses)/Gains Instruments Retirement Foreign Total Balance as of June 29, 2018 $ (1,091 ) $ 33 $ — $ (199 ) $ (1,257 ) Other comprehensive income before reclassification adjustment 1,203 — — (219 ) 984 Amounts reclassified out of AOCI to the unaudited 196 (2 ) — — 194 Tax effects — — — — — Other comprehensive income (loss) $ 1,399 $ (2 ) $ — $ (219 ) $ 1,178 Balance as of March 29, 2019 $ 308 $ 31 $ — $ (418 ) $ (79 )

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Mar. 27, 2020
Commitments and contingencies	19. Commitments and contingencies Letter of credit and Bank guarantees As of March 27, 2020 and June 28, 2019, the Company had one outstanding standby letter of credit of 6.0 million Euros, related to the Company’s support of a customer’s transfer of certain manufacturing operations from Berlin, Germany to the Company’s facilities in Thailand. As of March 27, 2020 and June 28, 2019, the standby letter of credit was backed by cash collateral of $7.4 million. As of March 27, 2020 and June 28, 2019, there were outstanding bank guarantees given by a bank on behalf of our subsidiary in Thailand for electricity usage and other normal business expenses totaling de minimis amounts. Purchase obligations Purchase obligations represent legally As of March 27, 2020, the Company had purchase obligations to third parties of $15.2 million. Indemnification of directors and officers Cayman Islands law does not limit the extent to which a company’s memorandum and articles of association may provide for indemnification of directors and officers, except to the extent any such provision may be held by the Cayman Islands courts to be contrary to public policy, such as to provide indemnification against civil fraud or the consequences of committing a crime. Fabrinet’s amended and restated memorandum and articles of association provide for indemnification of directors and officers for actions, costs, charges, losses, damages and expenses incurred in their capacities as such, except that such indemnification does not extend to any matter in respect of any fraud or dishonesty that may attach to any of them. In accordance with Fabrinet’s form of indemnification agreement for its directors and officers, Fabrinet has agreed to indemnify its directors and officers against certain liabilities and expenses incurred by such persons in connection with claims by reason of their being such a director or officer. Fabrinet maintains a director and officer liability insurance policy that may enable it to recover a portion of any future amounts paid under the indemnification agreements.

Business segments and geographi

Business segments and geographic information	9 Months Ended
	Mar. 27, 2020
Business segments and geographic information	20 Business segments and geographic information Operating segments are defined as components of an enterprise for which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. The Company’s chief operating decision maker is Fabrinet’s Chief Executive Officer. As of March 27, 2020, the Company operated and internally managed a single operating segment. Accordingly, the Company does not accumulate discrete information with respect to separate product lines and does not have separate reportable segments. Total revenues are attributed to a particular geographic area based on the bill-to-location Company The following table presents total revenues by geographic region: Three Months Ended Nine Months Ended (amount in thousands) March 27, March 29, March 27, 2020 March 29, 2019 North America $ 206,751 $ 195,504 $ 631,096 $ 558,028 Asia-Pacific 141,639 151,263 401,209 469,921 Europe 62,820 52,184 204,418 151,259 $ 411,210 $ 398,951 $ 1,236,723 $ 1,179,208 As of March 27, 2020 and March 29, 2019, the Company had approximately $29.9 million and $31.7 million, respectively, of long-lived assets based in North America, with the substantial remainder of assets based in Asia-Pacific and Europe. Significant customers The Company had three and two customers that individually contributed 10% or more of its total trade accounts receivable as of March 27, 2020 and June 28, 2019, respectively.

Subsequent events

Subsequent events	9 Months Ended
	Mar. 27, 2020
Subsequent event	21. Subsequent events The outbreak of a novel strain of coronavirus (“COVID-19”) The implications of COVID-19 COVID-19 COVID-19, The Company is not currently aware of any business interruption or loss contingencies related to COVID-19

Accounting policies (Policies)

Accounting policies (Policies)	9 Months Ended
	Mar. 27, 2020
Basis of presentation	Basis of presentation The accompanying unaudited condensed consolidated financial statements for Fabrinet as of March 27, 2020 and for the three and nine months ended March 27, 2020 and March 29, 2019 include normal recurring adjustments necessary for a fair statement of the financial statements set forth herein, in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, such information does not include all of the information and footnotes required by U.S. GAAP for annual financial statements. For further information, please refer to the consolidated financial statements and footnotes thereto included in Fabrinet’s Annual Report on Form 10-K The balance sheet as of June 28, 2019 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The results for the three and nine months ended March 27, 2020 may not be indicative of results for the year ending June 26, 2020 or any future periods.
Use of Estimates	Use of e The preparation of the Company’s unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements, and the reported amount of total revenues and expenses during the year. The Company bases estimates on historical experience and various assumptions about the future that are believed to be reasonable based on available information. The Company’s reported financial position or results of operations may be materially different under different conditions or when using different estimates and assumptions, particularly with respect to significant accounting policies, which are discussed below. Significant assumptions are used in accounting for share-based compensation, allowance for doubtful accounts, income taxes, inventory obsolescence, goodwill and valuation of intangible assets related to business acquisitions, among others. Due to the inherent uncertainty involved in making estimates, actual results reported in future periods may be different from these estimates. In the event that estimates or assumptions prove to be different from actual results, adjustments will be made in subsequent periods to reflect more current information.
Fiscal years	Fiscal years The Company utilizes a 52 to -
Reclassifications	Reclassifications For presentation purposes, certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications do not affect the Company’s net income, cash flows or stockholders’ equity.
Changes in Accounting Policies	Changes in a p Except for the adoption of the new lease accounting standard and the derivatives and hedging standard described below, the Company has consistently applied its
Concentration of credit risk	C Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash and cash equivalents, short-term investments, derivatives, accounts receivable and contract assets. Cash, cash equivalents and short-term investments are maintained with several financial institutions. Deposits held with banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate its credit risks by spreading such risks across multiple counterparties and monitoring the risk profiles of these counterparties. The Company limits its short-term investments in marketable securities to securities with a maturity not in excess of three years and securities that are rated A1, P-1, The Company enters into derivative contracts with financial institutions reputable The Company performs ongoing credit evaluations for credit worthiness of its customers and usually does not require collateral from its customers. Management has implemented a program to closely monitor near term cash collection and credit exposures to mitigate any material losses.
Adoption of New Accounting Standard	Adoption of new accounting standards On June 29, 2019, the Company adopted the new lease accounting standard, Accounting Standards Codification (“ASC”) Topic 842, which provides guidance for the recognition and disclosure of lease arrangements. The Company adopted ASC 842 using the modified retrospective transition approach. Accordingly, the Company’s comparative financial statements as of June 28, 2019 have not been adjusted. ASC 842 also provides practical expedients for the Company’s ongoing accounting. The Company elected the short-term lease recognition exemption for its operating leases with a term of less than 12 months, which will not require recognition of right of use (“ROU”) assets or lease liabilities for these leases. For periods prior to adoption of ASC 842, the Company is required to present disclosures in accordance with ASC Topic 840. Future minimum lease payments due under non-cancelable operating leases as of June 28, 2019 were as follows: (amount in thousands) 2020 $ 1,746 2021 1,342 2022 1,219 2023 1,172 Thereafter 230 Total future minimum operating lease payments $ 5,709
New Accounting Pronouncements – not yet adopted by the Company	New accounting pronouncements – not yet adopted by the Company In December 2019, the FASB issued ASU 2019-12, In August 2018, the FASB issued ASU 2018-13, 2018-13 In January 2017, the FASB issued ASU 2017-04, 2017-04 In June 2016, the FASB issued ASU 2016-13, available-for-sale 2018-19, 2019-04, 2019-05, 2019-11 2020-02, guidance and transition relief. For public business entities, this update

Accounting policies (Tables)

Accounting policies (Tables)	3 Months Ended
	Mar. 27, 2020
Future Minimum Lease Payments Due Under Non-Cancelable Operating Leases	Future minimum lease payments due under non-cancelable operating leases as of June 28, 2019 were as follows: (amount in thousands) 2020 $ 1,746 2021 1,342 2022 1,219 2023 1,172 Thereafter 230 Total future minimum operating lease payments $ 5,709

Revenues from contracts with _2

Revenues from contracts with customers (Tables)	9 Months Ended
	Mar. 27, 2020
Schedule of Activity in the Company's Contract Assets	The following tables summarize the activity in the Company’s contract assets and contract liabilities during the nine months ended March 27, 2020: (amount in thousands) Contract Beginning balance, June 28, 2019 $ 12,447 Revenue recognized 58,037 Amounts collected or invoiced (54,071 ) Ending balance, March 27, 2020 $ 16,413 (amount in thousands) Contract Liabilities Beginning balance, June 28, 2019 $ 2,239 Advance payment received during the period 6,857 Revenue recognized (7,155 ) Ending balance, March 27, 2020 $ 1,941
Disaggregation of Revenue by Geographical Regions	The following tables present total revenues by geographic region : (amount in thousands, except percentages) Three Months As a % of Total Nine Months As a % of Total North America $ 206,751 50.3 % $ 631,096 51.0 % Asia-Pacific 141,639 34.4 401,209 32.5 Europe 62,820 15.3 204,418 16.5 Total $ 411,210 100.0 % $ 1,236,723 100.0 % (amount in thousands, except percentages) Three Months As a % of Total Nine Months As a % of Total North America $ 195,504 49.0 % $ 558,028 47.3 % Asia-Pacific 151,263 37.9 469,921 39.9 Europe 52,184 13.1 151,259 12.8 Total $ 398,951 100.0 % $ 1,179,208 100.0 %
Revenues by End Market	The following tables set forth our revenues by end market: (amount in thousands, except percentages) Three Months 7 20 As a % of Total Nine Months 7 20 As a % of Total Optical communications $ 308,566 75.0 % $ 933,013 75.4 % Lasers, sensors and other 102,644 25.0 303,710 24.6 Total $ 411,210 100.0 % $ 1,236,723 100.0 % (amount in thousands, except percentages) Three Months As a % of Total Nine Months As a % of Total Optical communications $ 298,139 74.7 % $ 884,454 75.0 % Lasers, sensors and other 100,812 25.3 294,754 25.0 Total $ 398,951 100.0 % $ 1,179,208 100.0 %

Earnings per ordinary share (Ta

Earnings per ordinary share (Tables)	9 Months Ended
	Mar. 27, 2020
Earnings Per Ordinary Share	Earnings per ordinary share was calculated as follows: Three Months Ended Nine Months Ended (amount in thousands except per share amounts) March 27, March 29, March 27, 2020 March 29, 2019 Net income attributable to shareholders $ 28,267 $ 28,635 $ 85,455 $ 87,998 Weighted-average number of ordinary shares outstanding (thousands of shares) 36,987 36,891 36,970 36,786 Incremental shares arising from the assumed vesting of restricted share units and performance share units (thousands of shares) 810 648 726 597 Weighted-average number of ordinary shares for diluted earnings per ordinary share (thousands of shares) 37,797 37,539 37,696 37,383 Basic earnings per ordinary share $ 0.76 $ 0.78 $ 2.31 $ 2.39 Diluted earnings per ordinary share $ 0.75 $ 0.76 $ 2.27 $ 2.35 Outstanding performance share units excluded from the computation of diluted earnings per ordinary share (thousands of shares) (1) 50 401 50 401 (1) These performance share units were not included in the computation of diluted earnings per ordinary share because they are not expected to vest based on the Company’s current assessment of the related performance obligations.

Cash, Cash Equivalents and Sh_2

Cash, Cash Equivalents and Short-Term Investments (Tables)	9 Months Ended
	Mar. 27, 2020
Cash, Cash Equivalents, and Short-Term Investments	The Company’s cash, cash equivalents, and short-term investments by category is as follows: Fair Value (amount in thousands) Carrying Cost Unrealized Cash and Marketable Other As of March 27, 2020 Cash $ 202,610 $ — $ 202,610 $ — $ — Cash equivalents 21,528 — 21,528 — — Liquidity funds 20,954 — — — 20,954 Certificates of deposit and time deposits 20,000 — — — 20,000 Corporate debt securities 132,877 (1,439 ) — 131,438 — U.S. agency and U.S. Treasury securities 60,497 733 — 61,230 — Total $ 458,466 $ (706 ) $ 224,138 $ 192,668 $ 40,954 As of June 28, 2019 Cash $ 178,019 $ — $ 178,019 $ — $ — Cash equivalents 2,820 — 2,820 — — Liquidity funds 20,552 — — — 20,552 Certificates of deposit and time deposits 35,028 — — — 35,028 Corporate debt securities 130,959 297 — 131,256 — U.S. agency and U.S. Treasury securities 69,552 105 — 69,657 — Total $ 436,930 $ 402 $ 180,839 $ 200,913 $ 55,580
Available-for-Sale Securities Based on Stated Effective Maturities	The following table summarizes the cost and estimated fair value of short-term investments classified as available-for-sale March 27, 2020 June 28, 2019 (amount in thousands) Carrying Fair Carrying Fair Due within one year $ 30,448 $ 30,472 $ 69,746 $ 69,830 Due between one to five years 162,926 162,196 130,765 131,083 Total $ 193,374 $ 192,668 $ 200,511 $ 200,913

Fair value of financial instr_2

Fair value of financial instruments (Tables)	9 Months Ended
	Mar. 27, 2020
Financial Instruments Measured at Fair Value on Recurring Basis	The following table provides details of the financial instruments measured at fair value on a recurring basis, including: Fair Value Measurements at Reporting Date Using (amount in thousands) Level 1 Level 2 Level 3 Total As of March 27, 2020 Assets Cash equivalents $ — $ 21,528 $ — $ 21,528 Liquidity funds — 20,954 — 20,954 Certificates of deposit and time deposits — 20,000 — 20,000 Corporate debt securities — 131,438 — 131,438 U.S. agency and U.S. Treasury securities — 61,230 — 61,230 Derivative assets — — — — Total $ — $ 255,150 $ — $ 255,150 Liabilities Derivative liabilities $ — $ 11,977 (1) $ — $ 11,977 Total $ — $ 11,977 $ — $ 11,977 Fair Value Measurements at Reporting Date Using (amount in thousands) Level 1 Level 2 Level 3 Total As of June 28, 2019 Assets Cash equivalents $ — $ 2,820 $ — $ 2,820 Liquidity funds — 20,552 — 20,552 Certificates of deposit and time deposits — 35,028 — 35,028 Corporate debt securities — 131,256 — 131,256 U.S. agency and U.S. Treasury securities — 69,657 — 69,657 Derivative assets — 2,201 (2) — 2,201 Total $ — $ 261,514 $ — $ 261,514 Liabilities Derivative liabilities $ — $ 2,591 (3) $ — $ 2,591 Total $ — $ 2,591 $ — $ 2,591 (1) Foreign currency forward and option contracts with a notional amount of $126.0 million and Canadian dollars of $0.7 million , (2) Foreign currency forward contracts with notional amount of $72.0 million and Canadian dollars of $0.6 million. (3) Interest rate swap agreement with a notional amount of $64.2 million.
Schedule Impacts of Derivative Gain (Loss) of Cash Flow Hedges	Three Months Ended Nine Months Ended (amount in thousands) Financial statements line item March 27, March 29, March 27, March 29, Derivatives gain (loss) recognized in other comprehensive income: Foreign currency forward contracts Other comprehensive income $ (6,609 ) $ — $ (6,609 ) $ — Interest rate swaps Other comprehensive income (1,239 ) — (956 ) — Total derivatives loss recognized in other comprehensive income $ (7,848 ) $ — $ (7,565 ) $ — Derivatives gain (loss) reclassified from accumulated other comprehensive income into earnings: Foreign currency forward contracts Cost of revenues $ 14 $ — $ 14 $ — Foreign currency forward contracts SG&A 1 — 1 — Foreign currency forward contracts Foreign exchange loss, net 1,669 — 1,669 — Interest rate swaps Interest expense (405 ) — (838 ) — Total derivatives gain reclassified from accumulated other comprehensive income into earnings $ 1,279 $ — $ 846 $ — Change in net unrealized loss on derivatives instruments $ (6,569 ) $ — $ (6,719 ) $ —
Schedule of Derivative Financial Instruments	The following table provides the fair values of the Company’s derivative financial instruments for the periods presented: (amount in thousands) March 27, 2020 June 28, 2019 Derivative Derivative Derivative Derivative Derivatives not designated as hedging instruments Foreign currency forward and option contracts $ — $ (1,833 ) $ 2,201 $ — Interest rate swaps — — — (2,591 ) Derivatives designated as hedging instruments Foreign currency forward contracts $ 31 $ (4,956 ) $ — $ — Interest rate swaps 83 (5,302 ) — — Derivatives, gross balances $ 114 $ (12,091 ) $ 2,201 $ (2,591 ) Derivatives, gross balances offset in the balance sheet (114 ) 114 — — Derivatives, net balances $ — $ (11,977 ) $ 2,201 $ (2,591 )

Trade accounts receivable, net

Trade accounts receivable, net (Tables)	9 Months Ended
	Mar. 27, 2020
Trade Accounts Receivable, Net	(amount in thousands) As of March 27, 2020 As of June 28, 2019 Trade accounts receivable $ 283,546 $ 260,698 Less: allowance for doubtful account (79 ) (96 ) Trade accounts receivable, net $ 283,467 $ 260,602

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Mar. 27, 2020
Inventories	(amount in thousands) As of March 27, 2020 As of June 28, 2019 Raw materials $ 118,729 $ 113,321 Work-in-progress 141,646 141,730 Finished goods 18,779 24,916 Goods in transit 11,054 13,645 Inventories $ 290,208 $ 293,612

Leases (Tables)

Leases (Tables)	9 Months Ended
	Mar. 27, 2020
Schedule Of Adoption Of Topic 842 On Operating Lease In Consolidate Financial Position	Operating leases The Company determines if an arrangement contains a lease at inception. The Company applies the guidance in ASC 842 to determine whether a contract is, or contains, a lease. A contract is or contains a lease if the contract conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration. Operating leases are included in operating lease ROU assets and operating lease liabilities within the Company’s unaudited condensed consolidated balance sheets. The Company rents certain real estate under agreements that are classified as operating leases. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of the Company’s leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on the information available at the lease commencement date in determining the present value of future payments. The operating lease ROU assets also include any lease payments made and exclude lease incentives and initial direct costs incurred. Variable lease payments are expensed as incurred and are not included within the ROU asset and lease liability calculation. Variable lease payments primarily include reimbursements of costs incurred by lessors for common area maintenance and utilities. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. The Company does not account for lease components (e.g., fixed payments including rent) separately from the non-lease The following table shows the impact of adoption of ASC 842 on the adoption date of June 29, 2019 on the consolidated balance sheets: Consolidated Balance Sheets Impact of Adopting ASC 842 (amount in thousands) Balance at Adjustment Balance at Assets Operating lease ROU assets $ — $ 5,370 $ 5,370 Liabilities and Shareholders’ Equity Operating lease liabilities, current $ — $ 1,601 $ 1,601 Operating lease liabilities, non-current $ — $ 3,769 $ 3,769
Schedule of operating lease liabilities	As of March 27, 2020, the maturities of the Company’s operating lease liabilities were as follows: (amount in thousands) 2020 (remaining three months) $ 486 2021 2,131 2022 2,000 2023 1,895 2024 878 Thereafter 15 Total undiscounted lease payments 7,405 Less i (488 ) Total present value of lease liabilities $ 6,917 (1) (1) Include s
Summary of additional information related to operating and finance lease	As of March 27, 2020 Weighted-average remaining lease term (in years) Operating leases 3.7 Finance leases 0.5 Weighted-average discount rate Operating leases 3.8 % Finance leases 4.1 %
Schedule of supplemental cash flow information related to operating lease	The following information represents supplemental disclosure for the statement of cash flows related to operating and finance leases: (amount in thousands) Nine Months Ended March 27, 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 1,794 Financing cash flows from finance leases $ 304 ROU assets obtained in exchange for lease liabilities $ 7,175 Finance lease assets $ 157

Intangibles (Tables)

Intangibles (Tables)	9 Months Ended
	Mar. 27, 2020
Intangibles	The following tables present details of the Company’s intangibles: (amount in thousands) Gross Accumulated Foreign Net As of March 27, 2020 Software $ 7,689 $ (5,365 ) $ — $ 2,324 Customer relationships 4,373 (2,551 ) (147 ) 1,675 Backlog 119 (119 ) — — Total intangibles $ 12,181 $ (8,035 ) $ (147 ) $ 3,999 ( Gross Accumulated Foreign Net As of June 28, 2019 Software $ 6,582 $ (4,868 ) $ — $ 1,714 Customer relationships 4,373 (2,096 ) (104 ) 2,173 Backlog 119 (119 ) — — Total intangibles $ 11,074 $ (7,083 ) $ (104 ) $ 3,887
Weighted-Average Remaining Life of Intangible Assets	The weighted-average remaining life of customer relationships was: (years) As of March 27, As of June 28, 2019 Customer relationships 4.8 5.4
Estimated Future Amortization of intangibles	Based on the carrying amount of intangibles as of March 27, 2020, and assuming no future impairment of the underlying assets, the estimated future amortization during each fiscal year was as follows: (amount in thousands) 2020 (remaining three months) $ 628 2021 1,139 2022 908 2023 650 2024 423 Thereafter 251 Total $ 3,999

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Mar. 27, 2020
Changes in Carrying Amount of Goodwill from Acquisition	The changes in the carrying amount of goodwill from the acquisition of Fabrinet UK were as follows: (amount in thousands) Goodwill Balance as of June 28, 2019 $ 3,705 Foreign currency translation adjustment (134 ) Balance as of March 27, 2020 $ 3,571

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Mar. 27, 2020
Total Borrowings, Including Revolving and Long-Term Borrowings	The Company’s total borrowings, including current non-current (amount in thousands) Rate Conditions Maturity As of March 27, 2020 As of June 28, 2019 Long-term borrowings, current portion, net: Long-term borrowings, current portion $ 12,188 $ 3,250 Less: Unamortized debt issuance costs – current portion (32 ) — Long-term borrowings, current portion, net $ 12,156 $ 3,250 Long-term borrowings, non-current Term loan borrowings: 1-month (1) Repayable in quarterly installments June 2023 $ — $ 60,938 3-month LIBOR (1) Repayable in quarterly installments June 2024 54,844 — Less: Current portion (12,188 ) (3,250 ) Less: Unamortized debt issuance costs – non-current (103 ) — Long-term borrowings, non-current $ 42,553 $ 57,688 (1) We have entered into interest rate swaps that effectively fix a series of our future interest payments on our term loans. Refer to Note 6.
Movements of Long-Term Loans	The movements of long-term borrowings for the nine months ended March 27, 2020 and March 29, 2019 were as follows: Nine Months Ended (amount in thousands) March 27, 2020 March 29, 2019 Opening balance $ 60,938 $ 64,188 Borrowings during the period 60,938 — Repayments during the period (67,032 ) (2,438 ) Closing balance $ 54,844 $ 61,750
Future Maturities of Long-Term Debt	As of March 27, 2020, future maturities of long-term borrowings during each fiscal year were as follows: (amount in thousands) 2020 (remaining three months) $ 3,046 2021 12,188 2022 15,234 2023 12,188 2024 12,188 Total $ 54,844

Share-based compensation (Table

Share-based compensation (Tables)	9 Months Ended
	Mar. 27, 2020
Effect of Recording Share-Based Compensation Expense	The effect of recording share-based compensation expense for the three and nine months ended March 27, 2020 and March 29, 2019 was as follows: Three Months Ended Nine Months Ended (amount in thousands) March 27, March 29, March 27, 2020 March 29, 2019 Share-based compensation expense by type of award Restricted share units 4,094 3,621 12,678 11,650 Performance share units 2,024 803 5,623 1,723 Total share-based compensation expense 6,118 4,424 18,301 13,373 Tax effect on share-based compensation expense — — — — Net effect on share-based compensation expense $ 6,118 $ 4,424 $ 18,301 $ 13,373
Share-Based Compensation Expense Recorded in Condensed Consolidated Statements of Operations and Comprehensive Income	Share-based compensation expense was recorded in the unaudited condensed consolidated statements of operations and comprehensive income as follows: Three Months ended Nine Months Ended (amount in thousands) March 27, March 29, March 27, 2020 March 29, 2019 Cost of revenue $ 1,489 $ 1,237 $ 4,800 $ 4,384 Selling, general and administrative expense 4,629 3,187 13,501 8,989 Total share-based compensation expense $ 6,118 $ 4,424 $ 18,301 $ 13,373
Restricted Share Unit Activity	The following table summarizes restricted share unit activity under the Equity Incentive Plans: Number Shares Weighted- Per Share Balance as of June 28, 2019 800,751 $ 42.48 Granted 343,792 $ 50.32 Issued (321,659 ) $ 40.82 Forfeited (28,457 ) $ 42.80 Balance as of March 27, 2020 794,427 $ 46.54 Number of Shares Weighted- Balance as of June 29, 2018 1,073,580 $ 35.19 Granted 341,748 $ 48.77 Issued (496,854 ) $ 34.08 Forfeited (104,194 ) $ 38.50 Balance as of March 29, 2019 814,280 $ 41.14
Performance Share Unit Activity	The following table summarizes performance share unit activity under the Equity Incentive Plans: Number of Shares Weighted- Per Share Balance as of June 28, 2019 548,500 $ 40.97 Granted 242,310 $ 48.65 Issued — — Forfeited (350,670 ) $ 36.99 Balance as of March 27, 2020 440,140 $ 48.37 Number of Shares Weighted- Per Share Balance as of June 29, 2018 605,892 $ 38.41 Granted 201,994 $ 48.02 Issued (227,268 ) $ 40.48 Forfeited (27,954 ) $ 39.35 Balance as of March 29, 2019 552,664 $ 41.02

Accumulated other comprehensi_2

Accumulated other comprehensive income (loss) ("AOCI") (Tables)	9 Months Ended
	Mar. 27, 2020
Changes in AOCI, Net of Tax	The changes in AOCI for the nine months ended March 27, 2020 and March 29, 2019 were as follows: (amount in thousands) Unrealized net (Losses)/Gains on Available-for-sale Unrealized net (Losses)/Gains Instruments Retirement Foreign Total Balance as of June 28, 2019 $ 952 $ 32 $ (2,537 ) $ (833 ) $ (2,386 ) Other comprehensive income before reclassification adjustment (1,310 ) (7,565 ) 478 (353 ) (8,750 ) Amounts reclassified out of AOCI to the unaudited (93 ) 846 — — 753 Tax effects — — — — — Other comprehensive income (loss) $ (1,403 ) $ (6,719 ) $ 478 $ (353 ) $ (7,997 ) Balance as of March 27, 2020 $ (451 ) $ (6,687 ) $ (2,059 ) $ (1,186 ) $ (10,383 ) (amount in thousands) Unrealized net (Losses)/Gains on Available-for-sale Unrealized net (Losses)/Gains Instruments Retirement Foreign Total Balance as of June 29, 2018 $ (1,091 ) $ 33 $ — $ (199 ) $ (1,257 ) Other comprehensive income before reclassification adjustment 1,203 — — (219 ) 984 Amounts reclassified out of AOCI to the unaudited 196 (2 ) — — 194 Tax effects — — — — — Other comprehensive income (loss) $ 1,399 $ (2 ) $ — $ (219 ) $ 1,178 Balance as of March 29, 2019 $ 308 $ 31 $ — $ (418 ) $ (79 )

Business segments and geograp_2

Business segments and geographic information (Tables)	9 Months Ended
	Mar. 27, 2020
Total Revenues by Geographic Regions	The following table presents total revenues by geographic region: Three Months Ended Nine Months Ended (amount in thousands) March 27, March 29, March 27, 2020 March 29, 2019 North America $ 206,751 $ 195,504 $ 631,096 $ 558,028 Asia-Pacific 141,639 151,263 401,209 469,921 Europe 62,820 52,184 204,418 151,259 $ 411,210 $ 398,951 $ 1,236,723 $ 1,179,208

Accounting policies - Schedule

Accounting policies - Schedule Of Future Minimum Rental Payments For Operating Leases (Detail) $ in Thousands	Jun. 28, 2019USD ($)
Accounting Policies [Abstract]
2020	$ 1,746
2021	1,342
2022	1,219
2023	1,172
Thereafter	230
Total future minimum operating lease payments	$ 5,709

Revenues from contracts with _3

Revenues from contracts with customers - Additional Information (Detail) $ in Thousands	9 Months Ended
	Mar. 27, 2020USD ($)
Revenue From Contract With Customers [Line Items]
Product warranty, description	The Company generally provides a warranty of between one to five years
Incremental cost	$ 0
Minimum
Revenue From Contract With Customers [Line Items]
Product warranty term	1 year
Maximum
Revenue From Contract With Customers [Line Items]
Product warranty term	5 years

Schedule of Activity in the Com

Schedule of Activity in the Company's Contract Assets and Contract Liabilities (Detail) $ in Thousands	9 Months Ended
	Mar. 27, 2020USD ($)
Contract Assets
Beginning balance, June 28, 2019	$ 12,447
Revenue recognized	58,037
Amounts collected or invoiced	(54,071)
Ending balance, December 27, 2019	16,413
Contract Liabilities
Beginning balance, June 28, 2019	2,239
Advance payment received during the period	6,857
Revenue recognized	(7,155)
Ending balance, December 27, 2019	$ 1,941

Disaggregation of Revenue by Ge

Disaggregation of Revenue by Geographical Regions (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019	Mar. 27, 2020	Mar. 29, 2019
Revenues	$ 411,210	$ 398,951	$ 1,236,723	$ 1,179,208
Revenues, percentage	100.00%	100.00%	100.00%	100.00%
North America
Revenues	$ 206,751	$ 195,504	$ 631,096	$ 558,028
Revenues, percentage	50.30%	49.00%	51.00%	47.30%
Asia-Pacific
Revenues	$ 141,639	$ 151,263	$ 401,209	$ 469,921
Revenues, percentage	34.40%	37.90%	32.50%	39.90%
Europe
Revenues	$ 62,820	$ 52,184	$ 204,418	$ 151,259
Revenues, percentage	15.30%	13.10%	16.50%	12.80%

Revenues - Revenues by End Mark

Revenues - Revenues by End Market (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019	Mar. 27, 2020	Mar. 29, 2019
Revenue from External Customer [Line Items]
Revenues	$ 411,210	$ 398,951	$ 1,236,723	$ 1,179,208
Revenues, percentage	100.00%	100.00%	100.00%	100.00%
Optical communications
Revenue from External Customer [Line Items]
Revenues	$ 308,566	$ 298,139	$ 933,013	$ 884,454
Revenues, percentage	75.00%	74.70%	75.40%	75.00%
Lasers, sensors, and other
Revenue from External Customer [Line Items]
Revenues	$ 102,644	$ 100,812	$ 303,710	$ 294,754
Revenues, percentage	25.00%	25.30%	24.60%	25.00%

Earnings Per Ordinary Share (De

Earnings Per Ordinary Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Mar. 27, 2020	Mar. 29, 2019	Mar. 27, 2020	Mar. 29, 2019
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to shareholders		$ 28,267	$ 28,635	$ 85,455	$ 87,998
Weighted-average number of ordinary shares outstanding (thousands of shares)		36,987	36,891	36,970	36,786
Incremental shares arising from the assumed vesting of restricted share units and performance share units (thousands of shares)		810	648	726	597
Weighted-average number of ordinary shares for diluted earnings per ordinary share (thousands of shares)		37,797	37,539	37,696	37,383
Basic earnings per ordinary share		$ 0.76	$ 0.78	$ 2.31	$ 2.39
Diluted earnings per ordinary share		$ 0.75	$ 0.76	$ 2.27	$ 2.35
Outstanding performance share units excluded from the computation of diluted earnings per ordinary share (thousands of shares)	[1]	50	401	50	401
[1]	These performance share units were not included in the computation of diluted earnings per ordinary share because they are not expected to vest based on the Company’s current assessment of the related performance obligations.

Cash, Cash Equivalents and Sh_3

Cash, Cash Equivalents and Short-Term Investments (Detail) - USD ($) $ in Thousands	Mar. 27, 2020	Jun. 28, 2019	Mar. 29, 2019
Cash, cash equivalents and marketable securities [Line Items]
Cash and cash equivalents and Marketable securities, Carrying Cost	$ 458,466	$ 436,930
Marketable securities, Unrealized Gain/(Loss)	(706)	402
Cash and cash equivalents	224,138	180,839	$ 166,407
Marketable securities	192,668	200,913
Other Investments	40,954	55,580
Certificates of deposit and time deposits
Cash, cash equivalents and marketable securities [Line Items]
Marketable securities, Carrying cost	20,000	35,028
Other Investments	20,000	35,028
Cash
Cash, cash equivalents and marketable securities [Line Items]
Carrying Cost	202,610	178,019
Cash and cash equivalents	202,610	178,019
Cash Equivalents
Cash, cash equivalents and marketable securities [Line Items]
Carrying Cost	21,528	2,820
Cash and cash equivalents	21,528	2,820
Liquidity funds
Cash, cash equivalents and marketable securities [Line Items]
Carrying Cost	20,954	20,552
Other Investments	20,954	20,552
Corporate debt securities
Cash, cash equivalents and marketable securities [Line Items]
Marketable securities, Carrying cost	132,877	130,959
Marketable securities, Unrealized Gain/(Loss)	(1,439)	297
Marketable securities	131,438	131,256
U.S. agency and U.S. Treasury securities
Cash, cash equivalents and marketable securities [Line Items]
Marketable securities, Carrying cost	60,497	69,552
Marketable securities, Unrealized Gain/(Loss)	733	105
Marketable securities	$ 61,230	$ 69,657

Available-for-Sale Securities B

Available-for-Sale Securities Based on Stated Effective Maturities (Detail) - USD ($) $ in Thousands	Mar. 27, 2020	Jun. 28, 2019
Investments Classified by Contractual Maturity Date [Line Items]
Total	$ 192,668	$ 200,913
Fair Value
Investments Classified by Contractual Maturity Date [Line Items]
Due within one year	30,472	69,830
Due between one to five years	162,196	131,083
Total	192,668	200,913
Carrying Cost
Investments Classified by Contractual Maturity Date [Line Items]
Due within one year	30,448	69,746
Due between one to five years	162,926	130,765
Total	$ 193,374	$ 200,511

Cash, Cash Equivalents and Sh_4

Cash, Cash Equivalents and Short-Term Investments - Additional Information (Detail) $ in Thousands	9 Months Ended
	Mar. 27, 2020USD ($)
Cash, cash equivalents and marketable securities [Line Items]
Gain from sales and maturities of available-for-sale securities	$ 100
Impairment losses	$ 0
Minimum
Cash, cash equivalents and marketable securities [Line Items]
Maturities period of marketable securities	3 months
Maximum
Cash, cash equivalents and marketable securities [Line Items]
Maturities period of marketable securities	3 years

Fair Value on Recurring Basis (

Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands		Mar. 27, 2020		Jun. 28, 2019
Assets
Derivative assets				$ 2,201
Total		$ 255,150		261,514
Liabilities
Derivative liabilities		11,977		2,591
Total		11,977		2,591
Certificates of deposit and time deposits
Assets
Marketable securities		20,000		35,028
Cash Equivalents
Assets
Marketable securities		21,528		2,820
Corporate debt securities
Assets
Marketable securities		131,438		131,256
U.S. agency and U.S. Treasury securities
Assets
Marketable securities		61,230		69,657
Liquidity funds
Assets
Marketable securities		20,954		20,552
Significant Other Observable Inputs (Level 2)
Assets
Derivative assets	[1]			2,201
Total		255,150		261,514
Liabilities
Derivative liabilities		11,977	[2]	2,591	[3]
Total		11,977		2,591
Significant Other Observable Inputs (Level 2) | Certificates of deposit and time deposits
Assets
Marketable securities		20,000		35,028
Significant Other Observable Inputs (Level 2) | Cash Equivalents
Assets
Marketable securities		21,528		2,820
Significant Other Observable Inputs (Level 2) | Corporate debt securities
Assets
Marketable securities		131,438		131,256
Significant Other Observable Inputs (Level 2) | U.S. agency and U.S. Treasury securities
Assets
Marketable securities		61,230		69,657
Significant Other Observable Inputs (Level 2) | Liquidity funds
Assets
Marketable securities		$ 20,954		$ 20,552
[1]	Foreign currency forward contracts with notional amount of $72.0 million and Canadian dollars of $0.6 million.
[2]	Foreign currency forward and option contracts with a notional amount of $126.0 million and Canadian dollars of $0.7 million, and two interest rate swap agreements with an aggregate notional amount of $125.1 million.
[3]	Interest rate swap agreement with a notional amount of $64.2 million.

Fair Value on Recurring Basis_2

Fair Value on Recurring Basis (Parenthetical) (Detail) $ in Millions, $ in Millions	Mar. 27, 2020CAD ($)	Mar. 27, 2020USD ($)	Jun. 28, 2019CAD ($)	Jun. 28, 2019USD ($)
Foreign currency forward contracts
Fair Value Measurements at Reporting Date Using
Derivative assets, notional amount	$ 0.7	$ 126	$ 0.6	$ 72
Interest rate swap | Fair Value, Measurements, Recurring
Fair Value Measurements at Reporting Date Using
Derivative liabilities, notional amount		$ 125.1		$ 64.2

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) $ in Thousands, shares in Millions	3 Months Ended	9 Months Ended
	Mar. 27, 2020USD ($)Contract	Mar. 27, 2020USD ($)Contract	Mar. 29, 2019USD ($)sharesContract	Sep. 03, 2019
Foreign Currency Fair Value Hedge Derivative [Line Items]
Derivative notional amount	$ 125,100	$ 125,100
Derivative maturity period		2023-06
Unrealized gain (loss) on derivatives	$ 1,279	$ 846
Derivative, Fixed Interest Rate	2.86%	2.86%
Foreign currency forward contracts
Foreign Currency Fair Value Hedge Derivative [Line Items]
Number of forward contracts outstanding | Contract			45
Derivative notional amount			$ 98,000
Unrealized gain (loss) on derivatives			$ 1,500
Gains or losses from accumulated other comprehensive income expected to be reclassified		$ 4,900
Foreign currency forward contracts | Non designated
Foreign Currency Fair Value Hedge Derivative [Line Items]
Number of forward contracts outstanding | Contract	20	20
Derivative notional amount	$ 24,000	$ 24,000
Foreign currency forward contracts | Designated as Hedging Instrument
Foreign Currency Fair Value Hedge Derivative [Line Items]
Number of forward contracts outstanding | Contract	1	1
Derivative notional amount	$ 1,000	$ 1,000
Unrealized gain (loss) on derivatives	2,100	4,000
Gain (Loss) on Sale of Derivatives	$ 1,700	$ 1,700
Foreign currency forward contracts | Designated as Hedging Instrument | Thai baht
Foreign Currency Fair Value Hedge Derivative [Line Items]
Number of forward contracts outstanding | Contract	100	100	0
Derivative notional amount	$ 101,000	$ 101,000
Unrealized gain (loss) on derivatives	$ 6,600	$ 6,600
Foreign currency forward contracts | Designated as Hedging Instrument | Minimum | Thai baht
Foreign Currency Fair Value Hedge Derivative [Line Items]
Derivative maturity period	2020-04
Foreign currency forward contracts | Designated as Hedging Instrument | Maximum | Thai baht
Foreign Currency Fair Value Hedge Derivative [Line Items]
Derivative maturity period	2020-10
Foreign currency option contracts
Foreign Currency Fair Value Hedge Derivative [Line Items]
Number of forward contracts outstanding | Contract	1	1
Derivative notional amount			$ 5,000
Interest rate swaps
Foreign Currency Fair Value Hedge Derivative [Line Items]
Number of forward contracts outstanding | Contract	2	2
Number of Interest Rate Swaps | shares			64.2
Gains or losses from accumulated other comprehensive income expected to be reclassified		$ 17
Interest rate swaps | Bank of ayudhya public company | Bank of america credit facility
Foreign Currency Fair Value Hedge Derivative [Line Items]
Derivative maturity period		2024-06
Long term Debt Fixed Interest Percentage				4.36%
Interest rate swaps | Non designated
Foreign Currency Fair Value Hedge Derivative [Line Items]
Unrealized gain (loss) on derivatives		$ 1,700	$ 1,600
Canadian dollars forward contract
Foreign Currency Fair Value Hedge Derivative [Line Items]
Number of forward contracts outstanding | Contract	1	1
Derivative notional amount	$ 500	$ 500	$ 400

Fair Value - Schedule Impacts o

Fair Value - Schedule Impacts of Derivative Gain (Loss) of Cash Flow Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019	Mar. 27, 2020	Mar. 29, 2019
Derivatives gain (loss) recognized in other comprehensive income:
Derivative gain/(loss)	$ (7,848)		$ (7,565)
Derivatives gain(loss) reclassified from other comprehensive income into earnings:
Derivative gain/(loss)	1,279		846
Change in net unrealized loss on derivatives instruments	(6,569)	$ (1)	(6,719)	$ (2)
Interest rate swaps | Other Comprehensive Income (Loss)
Derivatives gain (loss) recognized in other comprehensive income:
Derivative gain/(loss)	(1,239)		(956)
Interest rate swaps | Interest Expense
Derivatives gain(loss) reclassified from other comprehensive income into earnings:
Derivative gain/(loss)	(405)		(838)
Foreign currency forward contracts
Derivatives gain(loss) reclassified from other comprehensive income into earnings:
Derivative gain/(loss)				$ 1,500
Foreign currency forward contracts | Other Comprehensive Income (Loss)
Derivatives gain (loss) recognized in other comprehensive income:
Derivative gain/(loss)	(6,609)		(6,609)
Foreign currency forward contracts | Foreign exchange loss,net
Derivatives gain(loss) reclassified from other comprehensive income into earnings:
Derivative gain/(loss)	1,669		1,669
Foreign currency forward contracts | Cost of Revenue
Derivatives gain(loss) reclassified from other comprehensive income into earnings:
Derivative gain/(loss)	14		14
Foreign currency forward contracts | Selling, General and Administrative Expenses
Derivatives gain(loss) reclassified from other comprehensive income into earnings:
Derivative gain/(loss)	$ 1		$ 1

Fair Value - Schedule of Deriva

Fair Value - Schedule of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	Mar. 27, 2020	Jun. 28, 2019
Derivatives designates as hedging instruments:
Derivative ,gross balances (Derivative Assets)	$ 114	$ 2,201
Derivative ,gross balances offset in the balance sheet (Derivative Assets)	(114)
Net amounts of derivatives (Derivative Assets)	0	2,201
Derivative ,gross balances (Derivative Liabilities)	(12,091)	(2,591)
Derivative ,gross balances offset in the balance sheet (Derivative Liabilities)	114
Net amounts of derivatives (Derivative Liabilities)	(11,977)	(2,591)
Foreign currency forward contracts
Derivatives designates as hedging instruments:
Derivative Assets	31
Derivative Liabilities	(4,956)
Interest rate swaps
Derivatives not designated as hedging instruments
Derivative Assets	0
Derivative Liabilities	0	(2,591)
Derivatives designates as hedging instruments:
Derivative Assets	83
Derivative Liabilities	(5,302)
Foreign Currency Forward And Option Contracts
Derivatives not designated as hedging instruments
Derivative Assets	0	$ 2,201
Derivative Liabilities	$ (1,833)

Trade Accounts Receivable, Ne_2

Trade Accounts Receivable, Net (Detail) - USD ($) $ in Thousands	Mar. 27, 2020	Jun. 28, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade accounts receivable	$ 283,546	$ 260,698
Less: Allowance for doubtful account	(79)	(96)
Trade accounts receivable, net	$ 283,467	$ 260,602

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	Mar. 27, 2020	Jun. 28, 2019
Inventory [Line Items]
Raw materials	$ 118,729	$ 113,321
Work in progress	141,646	141,730
Finished goods	18,779	24,916
Goods in transit	11,054	13,645
Inventories	$ 290,208	$ 293,612

Other receivable - Additional I

Other receivable - Additional Information (Detail) $ in Thousands	9 Months Ended
	Mar. 27, 2020USD ($)
Receivables [Abstract]
Other receivable provided to customer	$ 24,300
Other receivable	$ 24,310

Restricted cash - Additional In

Restricted cash - Additional Information (Detail) € in Millions, $ in Millions	Mar. 27, 2020EUR (€)	Mar. 27, 2020USD ($)	Jun. 28, 2019EUR (€)	Jun. 28, 2019USD ($)
Outstanding letter of credit amount | €	€ 6		€ 6
Amount of cash collateral | $		$ 7.4		$ 7.4

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 27, 2020	Mar. 27, 2020	Jun. 29, 2019
Operating Lease Rental Expense	$ 500	$ 1,500
Operating lease liability, current portion	1,893	1,893	$ 1,601
Finance Lease, Liability	$ 200	$ 200
Maximum [Member]
Operating lease expiration year		2025
Lessee operating lease option to extend term		5 years
Minimum [Member]
Lessee operating lease option to extend term		1 year

Leases - Schedule Of Adoption O

Leases - Schedule Of Adoption Of Topic 842 On Operating Lease In Consolidate Financial Position (Detail) - USD ($) $ in Thousands	Mar. 27, 2020	Jun. 29, 2019
Assets
Operating lease ROU assets	$ 7,175	$ 5,370
Liabilities and Shareholders' Equity
Operating lease liabilities, current	1,893	1,601
Operating lease liabilities, non-current	$ 5,024	3,769
Accounting Standards Update 2016-02 [Member]
Assets
Operating lease ROU assets		5,370
Liabilities and Shareholders' Equity
Operating lease liabilities, current		1,601
Operating lease liabilities, non-current		$ 3,769

Leases - Schedule Of Operating

Leases - Schedule Of Operating Lease Liabilities (Detail) $ in Thousands	Mar. 27, 2020USD ($)
Leases [Abstract]
2020 (remaining three months)	$ 486
2021	2,131
2022	2,000
2023	1,895
2024	878
Thereafter	15
Total undiscounted lease payments	7,405
Less imputed interest	(488)
Total present value of lease liabilities	$ 6,917

Leases - Summary Of Additional

Leases - Summary Of Additional Information Related To Operating And Finance Lease (Detail)	Mar. 27, 2020
Weighted-average remaining lease term (in years)
Operating leases	3 years 8 months 12 days
Finance leases	6 months
Weighted-average discount rate
Operating leases	3.80%
Finance leases	4.10%

Leases - Schedule Of Supplement

Leases - Schedule Of Supplemental Cash Flow Information Related To Operating Lease (Detail) - USD ($) $ in Thousands	9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 1,794
Financing cash flows from finance leases	304	$ 342
ROU assets obtained in exchange for lease liabilities	7,175
Finance lease assets	$ 157

Intangibles (Detail)

Intangibles (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 27, 2020	Jun. 28, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 12,181	$ 11,074
Accumulated Amortization	(8,035)	(7,083)
Foreign Currency Translation Adjustment	(147)	(104)
Net	3,999	3,887
Software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	7,689	6,582
Accumulated Amortization	(5,365)	(4,868)
Foreign Currency Translation Adjustment
Net	2,324	1,714
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,373	4,373
Accumulated Amortization	(2,551)	(2,096)
Foreign Currency Translation Adjustment	(147)	(104)
Net	1,675	2,173
Backlog
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	119	119
Accumulated Amortization	(119)	$ (119)
Foreign Currency Translation Adjustment
Net

Intangibles - Additional Inform

Intangibles - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019	Mar. 27, 2020	Mar. 29, 2019
Finite-Lived Intangible Assets [Line Items]
Amortization expense related to intangibles	$ 0.3	$ 0.3	$ 0.9	$ 0.9

Weighted-Average Remaining Life

Weighted-Average Remaining Life of Intangible Assets (Detail)	9 Months Ended	12 Months Ended
	Mar. 27, 2020	Jun. 28, 2019
Global CEM Solutions, Ltd. | Customer relationships
Finite-Lived Intangible Liabilities [Line Items]
Weighted average remaining life of acquired intangible assets	4 years 9 months 18 days	5 years 4 months 24 days

Estimated Future Amortization o

Estimated Future Amortization of Intangibles (Detail) - USD ($) $ in Thousands	Mar. 27, 2020	Jun. 28, 2019
Finite-Lived Intangible Assets [Line Items]
2020 (remaining six months)	$ 628
2021	1,139
2022	908
2023	650
2024	423
Thereafter	251
Total	$ 3,999	$ 3,887

Goodwill - Additional Informati

Goodwill - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 27, 2020	Mar. 29, 2019
Goodwill [Line Items]
Goodwill impairment charges	$ 0	$ 0

Changes in Carrying Amount of G

Changes in Carrying Amount of Goodwill from Acquisition (Detail) $ in Thousands	9 Months Ended
	Mar. 27, 2020USD ($)
Goodwill [Line Items]
Beginning Balance	$ 3,705
Foreign currency translation adjustment	(134)
Ending Balance	$ 3,571

Total Borrowings, Including Cur

Total Borrowings, Including Current Portion and Non-Current Portion of Long-Term Borrowings (Detail) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
		Mar. 27, 2020	Jun. 28, 2019
Debt Instrument [Line Items]
Long-term borrowings, current portion		$ 12,188	$ 3,250
Less: Unamortized debt issuance costs – current portion		(32)
Long-term borrowings, current portion, net		12,156	3,250
Less: Current portion		(12,188)	(3,250)
Less: Unamortized debt issuance costs – non-current portion		(103)
Long-term borrowings, non-current portion, net		$ 42,553	$ 57,688
Loan Payable Due June 2023
Debt Instrument [Line Items]
Rate			1-month LIBOR +1.50% per annum
Conditions			Repayable in quarterly installments
Term			2023-06
Long-term Debt	[1]		$ 60,938
Loan Payable Due June 2023 | LIBOR
Debt Instrument [Line Items]
Margin above rate			1.50%
Loan Payable Due June 2024
Debt Instrument [Line Items]
Rate		3-month LIBOR +1.35% per annum
Conditions		Repayable in quarterly installments
Term		2024-06
Long-term Debt	[1]	$ 54,844
Loan Payable Due June 2024 | LIBOR
Debt Instrument [Line Items]
Margin above rate		1.35%
[1]	We have entered into interest rate swaps that effectively fix a series of our future interest payments on our term loans. Refer to Note 6.

Movements of Long-Term Loans (D

Movements of Long-Term Loans (Detail) - USD ($) $ in Thousands	9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019
Debt Instrument [Line Items]
Opening balance	$ 60,938	$ 64,188
Borrowings during the period	60,938
Repayments during the period	(67,032)	(2,438)
Closing balance	$ 54,844	$ 61,750

Future Maturities of Long-Term

Future Maturities of Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 27, 2020	Jun. 28, 2019	Mar. 29, 2019	Jun. 29, 2018
Debt Instrument [Line Items]
2020 (remaining six months)	$ 3,046
2021	12,188
2022	15,234
2023	12,188
2024	12,188
Total	$ 54,844	$ 60,938	$ 61,750	$ 64,188

Borrowings - Additional Informa

Borrowings - Additional Information (Detail) - USD ($)	Sep. 10, 2019	Mar. 27, 2020	Mar. 27, 2020	Mar. 29, 2019	Sep. 27, 2019	Sep. 03, 2019	Aug. 20, 2019	Jun. 28, 2019	Jun. 04, 2018
Line of Credit Facility [Line Items]
Line of credit facility borrowing capacity	$ 200,000,000						$ 160,900,000
Line of credit facility extended termination date			Sep. 10, 2019
Repayments Of Long term Debt			$ 67,032,000	$ 2,438,000
Bank of Ayudhya Public Company Limited [Member]
Line of Credit Facility [Line Items]
Interest Expense On Debt		$ 500,000	$ 1,100,000
Debt Description Of Variable Rate Basis			3-month LIBOR plus 1.35%
Debt Instrument Stated Interest Percentage		1.35%	1.35%
Debt Instrument Periodic Payment			$ 3,000,000
Debt Instrument Maturity Date			Jun. 30, 2024
Credit Facility Agreement [Member] | Bank of Ayudhya Public Company Limited [Member]
Line of Credit Facility [Line Items]
Line of credit facility borrowing capacity					$ 3,600,000		$ 110,000,000
Term Loan Agreement [Member]
Line of Credit Facility [Line Items]
Long Term Debt Outstanding		$ 54,800,000	$ 54,800,000
Term Loan Agreement [Member] | Bank of Ayudhya Public Company Limited [Member]
Line of Credit Facility [Line Items]
Debt Principal amount						$ 60,900,000
Line Of Credit Covenant Terms			The Term Loan Agreement contains affirmative and negative covenants applicable to the Borrower, including delivery of financial statements and other information, compliance with laws, maintenance of insurance, restrictions on granting security interests or liens on its assets, disposing of its assets, incurring indebtedness and making acquisitions. While the term loan is outstanding, the Borrower is required to maintain a loan to value of the mortgaged real property ratio of not greater than 65%. If the loan to value ratio is not maintained, the Borrower will be required to provide additional security or prepay a portion of the term loan in order to restore the required ratio. The Company is also required to maintain a debt service coverage ratio of at least 1.25 times and a debt to equity ratio less than or equal to 1.0 times. In the case of any payment of a dividend by the Company, its debt service coverage ratio must be at least 1.50 times. At March 27, 2020, the Company was in compliance with all of its covenants under the Term Loan Agreement.
Term Loan Agreement [Member] | Bank of America [Member]
Line of Credit Facility [Line Items]
Interest Expense On Debt			$ 500,000	$ 1,800,000
LIBOR | After Fifth Amendment
Line of Credit Facility [Line Items]
Credit line interest rate			LIBOR rate plus a spread of 1.50% to 2.25%
Base Rate | After Fifth Amendment
Line of Credit Facility [Line Items]
Credit line interest rate			base rate plus a spread of 0.50% to 1.25%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility borrowing capacity	150,000,000	150,000,000	$ 150,000,000						$ 25,000,000
Line of credit facility extended termination date			Jun. 4, 2023
Revolving Credit Facility | Bank of America [Member]
Line of Credit Facility [Line Items]
Repayments Of Long term Debt	61,000,000
Term Loan Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility borrowing capacity	$ 50,000,000
Line of credit facility amount outstanding									$ 65,000,000
Term Loan Credit Facility | Bank of America [Member]
Line of Credit Facility [Line Items]
Long Term Debt Outstanding		$ 0	$ 0					$ 60,900,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019	Mar. 27, 2020	Mar. 29, 2019	Jun. 28, 2019
Income Taxes [Line Items]
Liability for uncertain tax positions including accrued interest and penalties	$ 1.5		$ 1.5		$ 2.1
Corporate effective income tax rate	2.40%	5.20%	4.20%	5.20%

Effect of Recording Share-Based

Effect of Recording Share-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019	Mar. 27, 2020	Mar. 29, 2019
Share-based compensation expense by type of award:
Restricted share units	$ 4,094	$ 3,621	$ 12,678	$ 11,650
Performance share units	2,024	803	5,623	1,723
Total share-based compensation expense	6,118	4,424	18,301	13,373
Tax effect on share-based compensation expense
Net effect on share-based compensation expense	$ 6,118	$ 4,424	$ 18,301	$ 13,373

Share-Based Compensation Expens

Share-Based Compensation Expense Recorded in Condensed Consolidated Statements of Operations and Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019	Mar. 27, 2020	Mar. 29, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 6,118	$ 4,424	$ 18,301	$ 13,373
Cost of Revenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	1,489	1,237	4,800	4,384
Selling, General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 4,629	$ 3,187	$ 13,501	$ 8,989

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($)	9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019	Dec. 12, 2019	Nov. 02, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for future issuance			1,281,619
Shares withheld to settle employee minimum statutory obligation for applicable income and other employment taxes	91,481	231,624
Tax withholdings related to net share settlement of restricted share units	$ 4,727,000	$ 10,427,000
Stock Plan 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Ordinary available for grant	0
Stock Plan 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding	111,347
Shares authorized for future issuance				160,000
Equity Incentive 2020 plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Ordinary available for grant			1,700,000
Shares reserved for future issuance			1,300,000
Performance Share Units | Stock Plan 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding	436,304
Performance Share Units | Stock Plan 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding	3,836
Performance Share Units | Executive of the Company | Vest at the end of the performance period | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	0.00%
Performance Share Units | Executive of the Company | Vest at the end of the performance period | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	100.00%
Restricted Share Units | Stock Plan 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding	739,838
Restricted Share Units | Stock Plan 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding	24,327
Restricted Share Units | Stock Plan 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding	2,946,847
Restricted Share Units | Equity Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense	$ 15,000,000
Unrecognized compensation expense, weighted-average period for recognition	2 years 6 months
Restricted Share Units | Equity Incentive 2020 plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding	30,262
Restricted Share Units | Vesting Option One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award granted vesting period, year	3 years
Restricted Share Units | Vesting Option Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award granted vesting period, year	4 years
Restricted Share Units | Non Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award granted vesting period, year	1 year
Restricted Share Units | Non Employee Director | Vest on the first of January
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	100.00%
Performance Share Units | Equity Incentive Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share-based compensation expense	$ 7,700,000
Unrecognized compensation expense, weighted-average period for recognition	1 year 3 months 18 days
Performance Share Units | Executive of the Company
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award granted vesting period, year	2 years

Restricted Share Unit Activity

Restricted Share Unit Activity (Detail) - Stock Plan 2010 and 2017 - Restricted Share Units - $ / shares	9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019
Number of restricted share units
Number of share units, Beginning Balance	800,751	1,073,580
Number of share units, Granted	343,792	341,748
Number of share units, Issued	(321,659)	(496,854)
Number of share units, Forfeited	(28,457)	(104,194)
Number of share units, Ending Balance	794,427	814,280
Weighted Average Grant Date Fair Value Per Share
Weighted-average grant date fair value per share, Beginning Balance	$ 42.48	$ 35.19
Weighted-average grant date fair value per share, Granted	50.32	48.77
Weighted-average grant date fair value per share, Issued	40.82	34.08
Weighted-average grant date fair value per share, Forfeited	42.80	38.50
Weighted-average grant date fair value per share, Ending Balance	$ 46.54	$ 41.14

Performance Share Unit Activity

Performance Share Unit Activity (Detail) - Stock Plan 2010 and 2017 - Performance Share Units - $ / shares	9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019
Number of performance share units
Number of share units, Beginning Balance	548,500	605,892
Number of share units, Granted	242,310	201,994
Number of share units, Issued		(227,268)
Number of share units, Forfeited	(350,670)	(27,954)
Number of share units, Ending Balance	440,140	552,664
Weighted Average Grant Date Fair Value Per Share
Weighted-average grant date fair value per share, Beginning Balance	$ 40.97	$ 38.41
Weighted-average grant date fair value per share, Granted	48.65	48.02
Weighted-average grant date fair value per share, Issued		40.48
Weighted-average grant date fair value per share, Forfeited	36.99	39.35
Weighted-average grant date fair value per share, Ending Balance	$ 48.37	$ 41.02

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019	Mar. 27, 2020	Mar. 29, 2019	Jun. 28, 2019	May 31, 2019	Feb. 28, 2018	Aug. 31, 2017
Shareholders Equity [Line Items]
Ordinary shares, authorized share capital	500,000,000		500,000,000		500,000,000
Ordinary shares, par value	$ 0.01		$ 0.01		$ 0.01
Preferred shares, shares authorized	5,000,000		5,000,000		5,000,000
Preferred shares, par value	$ 0.01		$ 0.01		$ 0.01
Share repurchase program, approved amount								$ 30,000
Share repurchase program, increase in shares authorized for repurchase						$ 50,000	$ 30,000
Treasury Stock, carrying basis	$ 41,500		$ 41,500			$ 110,000
Treasury Stock, Shares, Acquired	355,000	100,000	355,000	100,000
Treasury stock shares repurchased average price	$ 58.37		$ 58.37
Tresury stock shares repurchased value	$ 20,722	$ 5,378	$ 20,722	$ 5,378
Stock Plan Nineteen Ninety Nine and Twenty Ten
Shareholders Equity [Line Items]
Ordinary shares issued upon vesting of restricted shares	52,041	78,072	230,178	492,498

Changes in AOCI, Net of Tax (De

Changes in AOCI, Net of Tax (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019	Mar. 27, 2020	Mar. 29, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 928,327	$ 801,533	$ 863,099	$ 740,939
Tax effects
Total other comprehensive (loss) income, net of tax	(8,231)	998	(7,997)	1,178
Ending Balance	933,409	828,888	933,409	828,888
Unrealized net (Losses) Gains on Available-for- sale Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			952	(1,091)
Other comprehensive income before reclassification adjustment			(1,310)	1,203
Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income			(93)	196
Total other comprehensive (loss) income, net of tax			(1,403)	1,399
Ending Balance	(451)	308	(451)	308
Unrealized net (Losses) Gains on Derivative Instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			32	33
Other comprehensive income before reclassification adjustment			(7,565)
Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income				(2)
Total other comprehensive (loss) income, net of tax			(6,719)	(2)
Ending Balance	(6,687)	31	(6,687)	31
Retirement benefit plan - Prior service cost
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			(2,537)	0
Other comprehensive income before reclassification adjustment			478
Total other comprehensive (loss) income, net of tax			478	0
Ending Balance	(2,059)	0	(2,059)	0
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			(833)	(199)
Other comprehensive income before reclassification adjustment			(353)	(219)
Total other comprehensive (loss) income, net of tax			(353)	(219)
Ending Balance	(1,186)	(418)	(1,186)	(418)
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			(2,386)	(1,257)
Other comprehensive income before reclassification adjustment			(8,750)	984
Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income			753	194
Total other comprehensive (loss) income, net of tax			(7,997)	1,178
Ending Balance	$ (10,383)	$ (79)	$ (10,383)	$ (79)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) € in Millions, $ in Millions	Mar. 27, 2020EUR (€)	Mar. 27, 2020USD ($)	Jun. 28, 2019EUR (€)	Jun. 28, 2019USD ($)
Commitments and Contingencies Disclosure [Line Items]
Outstanding bank guarantees given by banks on behalf of the company		$ 1.5		$ 1.6
Outstanding letter of credit amount | €	€ 6		€ 6
Amount of cash collateral		7.4		$ 7.4
Thailand
Commitments and Contingencies Disclosure [Line Items]
Outstanding commitment to third parties		$ 15.2

Business Segments and Geograp_3

Business Segments and Geographic Information - Additional Information (Detail) $ in Millions	9 Months Ended
	Mar. 27, 2020USD ($)CustomerSegment	Jun. 28, 2019Customer	Mar. 29, 2019USD ($)
Segment Reporting Information [Line Items]
Number of operating segment | Segment	1
Number of customers that contributed to more than 10% of trade accounts receivable | Customer	3	2
North America
Segment Reporting Information [Line Items]
Long-lived assets | $	$ 29.9		$ 31.7

Total Revenues by Geographic Re

Total Revenues by Geographic Regions (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 27, 2020	Mar. 29, 2019	Mar. 27, 2020	Mar. 29, 2019
Entity Wide Disclosure On Geographic Areas Revenue From External Customers Attributed To Individual Foreign And Domestic Countries [Line Items]
Revenues	$ 411,210	$ 398,951	$ 1,236,723	$ 1,179,208
North America
Entity Wide Disclosure On Geographic Areas Revenue From External Customers Attributed To Individual Foreign And Domestic Countries [Line Items]
Revenues	206,751	195,504	631,096	558,028
Asia-Pacific
Entity Wide Disclosure On Geographic Areas Revenue From External Customers Attributed To Individual Foreign And Domestic Countries [Line Items]
Revenues	141,639	151,263	401,209	469,921
Europe
Entity Wide Disclosure On Geographic Areas Revenue From External Customers Attributed To Individual Foreign And Domestic Countries [Line Items]
Revenues	$ 62,820	$ 52,184	$ 204,418	$ 151,259