Fabrinet (FN) 10-Q 9 May 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Mar. 31, 2023	Apr. 28, 2023
Cover [Abstract]
Document type	10-Q
Document quarterly report	true
Document period end date	Mar. 31, 2023
Document transition report	false
Entity file number	001-34775
Entity registrant name	FABRINET
Entity incorporation, state or country code	E9
Entity tax identification number	98-1228572
Entity address, address line one	c/o Intertrust Corporate Services
Entity address, address line two	One Nexus Way, Camana Bay
Entity address, city or town	Grand Cayman
Entity address, country	KY
Entity address, postal zip code	KY1-9005
City area code	66 2
Local phone number	524-9600
Title of 12(b) security	Ordinary Shares, $0.01 par value
Trading symbol	FN
Security exchange name	NYSE
Entity current reporting status	Yes
Entity interactive data current	Yes
Entity filer category	Large Accelerated Filer
Entity small business	false
Entity emerging growth company	false
Entity shell company	false
Entity common stock, shares outstanding (in shares)		36,297,059
Current fiscal year end date	--06-30
Amendment flag	false
Document fiscal year focus	2023
Document fiscal period focus	Q3
Entity central index key	0001408710

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 24, 2022
Current assets
Cash and cash equivalents	$ 230,743	$ 197,996
Short-term restricted cash	0	220
Short-term investments	307,980	280,157
Trade accounts receivable, net of allowance for doubtful accounts of $1,031 and $1,271, respectively	540,343	439,330
Contract assets	21,081	13,464
Inventories	554,247	557,145
Prepaid expenses	10,606	11,626
Other current assets	39,610	25,233
Total current assets	1,704,610	1,525,171
Non-current assets
Long-term restricted cash	0	149
Property, plant and equipment, net	308,365	292,277
Intangibles, net	2,471	3,508
Operating right-of-use assets	2,210	4,084
Deferred tax assets	10,487	9,800
Other non-current assets	658	652
Total non-current assets	324,191	310,470
Total Assets	2,028,801	1,835,641
Current liabilities
Long-term borrowings, current portion, net	12,156	12,156
Trade accounts payable	436,085	439,684
Fixed assets payable	20,116	9,085
Contract liabilities	3,249	1,982
Operating lease liabilities, current portion	1,634	2,319
Income tax payable	2,785	2,898
Accrued payroll, bonus and related expenses	28,899	20,374
Accrued expenses	23,428	24,758
Other payables	26,637	25,231
Total current liabilities	554,989	538,487
Non-current liabilities
Long-term borrowings, non-current portion, net	3,039	15,202
Deferred tax liability	6,159	6,001
Operating lease liability, non-current portion	235	1,476
Severance liabilities	21,267	18,384
Other non-current liabilities	1,531	2,409
Total non-current liabilities	32,231	43,472
Total Liabilities	587,220	581,959
Commitments and contingencies (Note 15)
Shareholders’ equity
Preferred shares (5,000,000 shares authorized, $0.01 par value; no shares issued and outstanding as of March 31, 2023 and June 24, 2022)	0	0
Ordinary shares (500,000,000 shares authorized, $0.01 par value; 39,274,783 shares and 39,048,700 shares issued at March 31, 2023 and June 24, 2022, respectively; and 36,578,909 shares and 36,436,683 shares outstanding at March 31, 2023 and June 24, 2022, respectively)	393	390
Additional paid-in capital	200,141	196,667
Less: Treasury shares (2,695,874 shares and 2,612,017 shares as of March 31, 2023 and June 24, 2022, respectively)	(156,475)	(147,258)
Accumulated other comprehensive income (loss)	(6,281)	(12,793)
Retained earnings	1,403,803	1,216,676
Total Shareholders’ Equity	1,441,581	1,253,682
Total Liabilities and Shareholders’ Equity	$ 2,028,801	$ 1,835,641

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 24, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 1,031	$ 1,271
Preferred shares, shares authorized (in shares)	5,000,000	5,000,000
Preferred shares, par value (in USD per share)	$ 0.01	$ 0.01
Preferred shares, shares issued (in shares)	0	0
Preferred shares, shares outstanding (in shares)	0	0
Ordinary shares, shares authorized (in shares)	500,000,000	500,000,000
Ordinary shares, par value (in USD per share)	$ 0.01	$ 0.01
Ordinary shares, shares issued (in shares)	39,274,783	39,048,700
Ordinary shares, shares outstanding (in shares)	36,578,909	36,436,683
Treasury stocks, shares (in shares)	2,695,874	2,612,017

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022	Mar. 31, 2023	Mar. 25, 2022
Income Statement [Abstract]
Revenues	$ 665,281	$ 564,395	$ 1,989,366	$ 1,674,350
Cost of revenues	(579,274)	(493,702)	(1,735,388)	(1,470,689)
Gross profit	86,007	70,693	253,978	203,661
Selling, general and administrative expenses	(18,309)	(17,034)	(57,804)	(55,412)
Restructuring and other related costs	(5,872)	0	(5,872)	(135)
Operating income	61,826	53,659	190,302	148,114
Interest income	3,317	414	7,210	1,470
Interest expense	(399)	(73)	(1,179)	(347)
Foreign exchange gain (loss), net	(1,303)	(410)	(3,122)	998
Other income (expense), net	31	(36)	(178)	(1,351)
Income before income taxes	63,472	53,554	193,033	148,884
Income tax expense	(4,117)	(2,893)	(5,906)	(4,693)
Net income	59,355	50,661	187,127	144,191
Other comprehensive income (loss), net of tax:
Change in net unrealized gain (loss) on available-for-sale securities	2,046	(2,455)	1,768	(3,615)
Change in net unrealized gain (loss) on derivative instruments	(5,535)	666	4,435	2,743
Change in net retirement benefits plan – prior service cost	113	124	338	448
Change in foreign currency translation adjustment	(191)	(34)	(29)	(198)
Total other comprehensive income (loss), net of tax	(3,567)	(1,699)	6,512	(622)
Net comprehensive income	$ 55,788	$ 48,962	$ 193,639	$ 143,569
Earnings per share
Basic (in USD per share)	$ 1.62	$ 1.37	$ 5.12	$ 3.90
Diluted (in USD per share)	$ 1.60	$ 1.35	$ 5.07	$ 3.85
Weighted-average number of ordinary shares outstanding (thousands of shares)
Basic (in shares)	36,608	36,940	36,575	36,945
Diluted (in shares)	36,989	37,473	36,895	37,451

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands	Total	Ordinary Share	Additional Paid-in Capital	Treasury Shares	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
Beginning balance (in shares) at Jun. 25, 2021		38,749,045
Beginning balance at Jun. 25, 2021	$ 1,112,520	$ 388	$ 189,445	$ (87,343)	$ (6,266)	$ 1,016,296
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	144,191					144,191
Other comprehensive income (loss)	(622)				(622)
Share-based compensation	21,701		21,701
Issuance of ordinary shares (in shares)		290,680
Issuance of ordinary shares	0	$ 2	(2)
Repurchase of shares held as treasury shares	(28,624)			(28,624)
Tax withholdings related to net share settlement of restricted share units	(20,439)		(20,439)
Ending balance (in shares) at Mar. 25, 2022		39,039,725
Ending balance at Mar. 25, 2022	1,228,727	$ 390	190,705	(115,967)	(6,888)	1,160,487
Beginning balance (in shares) at Dec. 24, 2021		39,008,996
Beginning balance at Dec. 24, 2021	1,199,191	$ 390	185,940	(91,776)	(5,189)	1,109,826
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	50,661					50,661
Other comprehensive income (loss)	(1,699)				(1,699)
Share-based compensation	5,723		5,723
Issuance of ordinary shares (in shares)		30,729
Issuance of ordinary shares	0
Repurchase of shares held as treasury shares	(24,191)			(24,191)
Tax withholdings related to net share settlement of restricted share units	(958)		(958)
Ending balance (in shares) at Mar. 25, 2022		39,039,725
Ending balance at Mar. 25, 2022	1,228,727	$ 390	190,705	(115,967)	(6,888)	1,160,487
Beginning balance (in shares) at Jun. 24, 2022		39,048,700
Beginning balance at Jun. 24, 2022	1,253,682	$ 390	196,667	(147,258)	(12,793)	1,216,676
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	187,127					187,127
Other comprehensive income (loss)	6,512				6,512
Share-based compensation	21,217		21,217
Issuance of ordinary shares (in shares)		226,083
Issuance of ordinary shares	0	$ 3	(3)
Repurchase of shares held as treasury shares	(9,217)			(9,217)
Tax withholdings related to net share settlement of restricted share units	(17,740)		(17,740)
Ending balance (in shares) at Mar. 31, 2023		39,274,783
Ending balance at Mar. 31, 2023	1,441,581	$ 393	200,141	(156,475)	(6,281)	1,403,803
Beginning balance (in shares) at Dec. 30, 2022		39,251,581
Beginning balance at Dec. 30, 2022	1,384,131	$ 393	194,366	(152,362)	(2,714)	1,344,448
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	59,355					59,355
Other comprehensive income (loss)	(3,567)				(3,567)
Share-based compensation	6,719		6,719
Issuance of ordinary shares (in shares)		23,202
Issuance of ordinary shares	0
Repurchase of shares held as treasury shares	(4,113)			(4,113)
Tax withholdings related to net share settlement of restricted share units	(944)		(944)
Ending balance (in shares) at Mar. 31, 2023		39,274,783
Ending balance at Mar. 31, 2023	$ 1,441,581	$ 393	$ 200,141	$ (156,475)	$ (6,281)	$ 1,403,803

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (unaudited) (Parenthetical) - shares	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022	Mar. 31, 2023	Mar. 25, 2022
Statement of Stockholders' Equity [Abstract]
Treasury stock acquired (in shares)	35,232	237,339	83,857	275,608

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022
Cash flows from operating activities
Net income for the period	$ 187,127	$ 144,191
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	32,504	28,907
Non-cash restructuring charges and other related costs	2,201	0
(Gain) loss on disposal and impairment of property, plant and equipment	(1,630)	(175)
(Gain) loss from sales and maturities of available-for-sale securities	92	(13)
Amortization of discount (premium) of short-term investments	300	3,038
Amortization of deferred debt issuance costs	24	24
(Reversal of) allowance for doubtful accounts	(240)	(39)
Unrealized loss (gain) on exchange rate and fair value of foreign currency forward contracts	693	(1,422)
Amortization of fair value at hedge inception of interest rate swaps	(478)	(736)
Share-based compensation	21,217	21,701
Deferred income tax	(276)	563
Other non-cash expenses	(151)	1,067
Changes in operating assets and liabilities
Trade accounts receivable	(98,212)	(109,334)
Contract assets	(7,617)	(1,690)
Inventories	2,720	(30,503)
Other current assets and non-current assets	(11,807)	(11,221)
Trade accounts payable	(5,028)	55,333
Contract liabilities	1,267	243
Income tax payable	(262)	(872)
Severance liabilities	1,917	1,883
Other current liabilities and non-current liabilities	17,861	6,952
Net cash provided by operating activities	142,222	107,897
Cash flows from investing activities
Purchase of short-term investments	(154,033)	(119,853)
Proceeds from sales of short-term investments	30,179	19,463
Proceeds from maturities of short-term investments	97,408	92,862
Purchase of property, plant and equipment	(43,422)	(75,327)
Purchase of intangibles	(698)	(592)
Proceeds from disposal of property, plant and equipment	117	229
Net cash used in investing activities	(70,449)	(83,218)
Cash flows from financing activities
Repayment of long-term borrowings	(12,187)	(9,141)
Repayment of finance lease liability	(7)	0
Repurchase of ordinary shares	(9,217)	(28,624)
Withholding tax related to net share settlement of restricted share units	(17,740)	(20,439)
Net cash used in financing activities	(39,151)	(58,204)
Net increase (decrease) in cash, cash equivalents and restricted cash	32,622	(33,525)
Movement in cash, cash equivalents and restricted cash
Cash, cash equivalents and restricted cash at the beginning of period	198,365	303,123
Increase (decrease) in cash, cash equivalents and restricted cash	32,622	(33,525)
Effect of exchange rate on cash, cash equivalents and restricted cash	(244)	(301)
Cash, cash equivalents and restricted cash at the end of period	230,743	269,297
Non-cash investing and financing activities
Construction, software and equipment-related payables	$ 20,116	$ 14,060

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 25, 2022
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	$ 230,743	$ 269,140
Restricted cash	0	157
Cash, cash equivalents and restricted cash	$ 230,743	$ 269,297

Business and organization

Business and organization	9 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and organization	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, industrial lasers, automotive components, medical devices and sensors. The Company offers a broad range of advanced optical and electro-mechanical capabilities across the entire manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and testing. The Company focuses primarily on the production of low-volume, high-mix products. The principal subsidiaries of Fabrinet include Fabrinet Co., Ltd. (“Fabrinet Thailand”), Casix, Inc. (“Casix”), Fabrinet West, Inc. (“Fabrinet West”) and Fabrinet Israel Ltd. (“Fabrinet Israel”).

Accounting policies

Accounting policies	9 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Accounting policies	Accounting policies Basis of presentation The accompanying unaudited condensed consolidated financial statements for Fabrinet as of March 31, 2023 and for the three and nine months ended March 31, 2023 and March 25, 2022 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” or "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 for the year ended June 24, 2022. The balance sheet as of June 24, 2022 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 31, 2023 may not be indicative of results for the year ending June 30, 2023 or any future periods. Use of Estimates 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, allowance for expected credit losses, income taxes, inventory obsolescence, goodwill and valuation of intangible assets related to business acquisition, 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 the Company's estimates or assumptions prove to be different from actual results, adjustments will be made in subsequent periods to reflect more current information. Additionally, the extent to which the evolving COVID-19 pandemic impacts the Company’s unaudited condensed consolidated financial statements will depend on a number of factors, including the magnitude and duration of the pandemic. These estimates may change, as new events occur and additional information is obtained, or based upon the occurrence of other factors related to the COVID-19 pandemic that could result in material impacts to the Company's unaudited condensed consolidated financial statements in future reporting periods. Fiscal years The Company utilizes a 52-53 week fiscal year ending on the Friday in June closest to June 30. The three months ended March 31, 2023 and March 25, 2022 consisted of 13 weeks. The nine months ended March 31, 2023 and March 25, 2022 consisted of 40 weeks and 39 weeks, respectively. Fiscal year 2023 will comprise 53 weeks and will end on June 30, 2023. Adoption of New Accounting Standards

Revenues from contracts with cu

Revenues from contracts with customers	9 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenues from contracts with customers	Revenues from contracts with customers Revenue by Geographic Area and End Market Revenues are attributed to a particular geographic area based on the bill-to-location of the Company’s customers. The Company operates in three geographic regions: North America; Asia-Pacific and others; and Europe. The following table presents total revenues by geographic region: (in thousands, except percentages) Three Months Ended As a % of Total Nine Months Ended As a % of Total North America U.S. $ 310,100 $ 975,098 Others (1) 6,035 13,693 Total revenue in North America 316,135 47.5 % 988,791 49.7 % Asia-Pacific and others India 85,731 247,942 Israel 85,562 182,732 Hong Kong 37,120 109,315 Malaysia 30,688 130,402 Thailand 16,706 45,420 China 11,194 60,738 Japan 10,044 32,129 Others 2,896 7,957 Total revenue in Asia-Pacific and others 279,941 42.1 % 816,635 41.1 % Europe U.K. 40,292 103,440 Germany 14,532 40,975 Ireland (2) 176 438 Others 14,205 39,087 Total revenue in Europe $ 69,205 10.4 % $ 183,940 9.2 % Total revenue $ 665,281 100.0 % $ 1,989,366 100.0 % (in thousands, except percentages) Three Months Ended As a % of Total Nine Months Ended As a % of Total North America U.S. $ 292,475 $ 781,469 Others (1) 4,123 8,996 Total revenue in North America 296,598 52.5 % 790,465 47.2 % Asia-Pacific and others India 70,956 210,009 Malaysia 51,188 163,306 Hong Kong 17,338 61,575 Israel 16,883 67,318 Japan 16,449 47,258 China 12,843 40,624 Others 10,559 34,349 Total revenue in Asia-Pacific and others 196,216 34.8 % 624,439 37.3 % Europe Ireland (2) 28,640 133,024 U.K. 21,632 64,151 Germany 10,688 28,098 Others 10,621 34,173 Total revenue in Europe $ 71,581 12.7 % $ 259,446 15.5 % Total revenue $ 564,395 100.0 % $ 1,674,350 100.0 % (1) Others includes revenues from external customers based in our country of domicile, the Cayman Islands, which for each year presented is $0. (2) Due to change in bill-to-location for a certain customer. The following table presents revenues by end market: (in thousands, except percentages) Three Months Ended As a % of Total Nine Months Ended As a % of Total Optical communications $ 502,615 75.5 % $ 1,506,232 75.7 % Lasers, sensors and other 162,666 24.5 % 483,134 24.3 % Total $ 665,281 100.0 % $ 1,989,366 100.0 % (in thousands, except percentages) Three Months Ended As a % of Total Nine Months Ended As a % of Total Optical communications $ 440,003 78.0 % $ 1,318,087 78.7 % Lasers, sensors and other 124,392 22.0 % 356,263 21.3 % Total $ 564,395 100.0 % $ 1,674,350 100.0 % 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. 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 31, 2023: (in thousands) Contract Beginning balance, June 24, 2022 $ 13,464 Revenue recognized 57,617 Amounts collected or invoiced (50,000) Ending balance, March 31, 2023 $ 21,081 (in thousands) Contract Beginning balance, June 24, 2022 $ 1,982 Advance payment received during the period 13,073 Revenue recognized (11,806) Ending balance, March 31, 2023 $ 3,249

Earnings per ordinary share

Earnings per ordinary share	9 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings per ordinary share	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 (in thousands, except per share data) March 31, March 25, March 31, March 25, Net income attributable to shareholders $ 59,355 $ 50,661 $ 187,127 $ 144,191 Weighted-average number of ordinary shares outstanding 36,608 36,940 36,575 36,945 Incremental shares arising from the assumed vesting of restricted share units and performance share units 381 533 320 506 Weighted-average number of ordinary shares for diluted earnings per ordinary share 36,989 37,473 36,895 37,451 Basic earnings per ordinary share $ 1.62 $ 1.37 $ 5.12 $ 3.90 Diluted earnings per ordinary share $ 1.60 $ 1.35 $ 5.07 $ 3.85

Cash, cash equivalents and shor

Cash, cash equivalents and short-term investments	9 Months Ended
	Mar. 31, 2023
Cash and Cash Equivalents [Abstract]
Cash, cash equivalents and short-term investments	Cash, cash equivalents and short-term investments The Company’s cash, cash equivalents, and short-term investments are as follows: Fair Value (in thousands) Carrying Unrealized Cash and Marketable Other As of March 31, 2023 Cash $ 211,433 $ — $ 211,433 $ — $ — Cash equivalents 19,320 (10) 19,310 — — Liquidity funds 40,528 — — — 40,528 Certificates of deposit and time deposits 44,341 43 — 44,384 — Corporate debt securities 215,295 (4,127) — 211,168 — U.S. agency and U.S. treasury securities 12,054 (154) — 11,900 — Total $ 542,971 $ (4,248) $ 230,743 $ 267,452 $ 40,528 As of June 24, 2022 Cash $ 187,630 $ — $ 187,630 $ — $ — Cash equivalents 10,367 (1) 10,366 — — Liquidity funds 31,477 — — — 31,477 Corporate debt securities 234,689 (5,671) — 229,018 — U.S. agency and U.S. treasury securities 20,007 (345) — 19,662 — Total $ 484,170 $ (6,017) $ 197,996 $ 248,680 $ 31,477 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 reevaluates the designations at each balance sheet date. The Company may sell certain of its short-term investments prior to their stated maturities for strategic reasons including, but not limited to, anticipation of credit deterioration and duration management. The maturities of the Company’s short-term investments generally range from three months to three years. The following table summarizes the cost and estimated fair value of short-term investments classified as available-for-sale securities based on stated effective maturities as of March 31, 2023 and June 24, 2022: March 31, 2023 June 24, 2022 (in thousands) Carrying Fair Value Carrying Fair Value Due within one year $ 150,720 $ 150,547 $ 101,976 $ 101,400 Due between one to five years 161,498 157,433 184,197 178,757 Total $ 312,218 $ 307,980 $ 286,173 $ 280,157

Fair value of financial instrum

Fair value of financial instruments	9 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair value of financial instruments	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, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs for the valuation of an asset or liability as of the measurement date. The three levels of inputs that may be used to measure fair value are defined as follows: 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 (in thousands) Level 1 Level 2 Level 3 Total As of March 31, 2023 Assets Cash equivalents $ — $ 19,310 $ — $ 19,310 Liquidity funds — 40,528 — 40,528 Certificates of deposit and time deposits — 44,384 — 44,384 Corporate debt securities — 211,168 — 211,168 U.S. agency and U.S. treasury securities — 11,900 — 11,900 Derivative assets – current portion — 2,078 (1) — 2,078 Derivative assets – non-current portion — 10 (2) — 10 Total $ — $ 329,378 $ — $ 329,378 Liabilities Derivative liabilities – current portion $ — $ (1,794) $ — $ (1,794) Total $ — $ (1,794) (3) $ — $ (1,794) Fair Value Measurements at Reporting Date Using (in thousands) Level 1 Level 2 Level 3 Total As of June 24, 2022 Assets Cash equivalents $ — $ 10,366 $ — $ 10,366 Liquidity funds — 31,477 — 31,477 Corporate debt securities — 229,018 — 229,018 U.S. agency and U.S. treasury securities — 19,662 — 19,662 Derivative assets – current portion — 110 (4) — 110 Total $ — $ 290,633 $ — $ 290,633 Liabilities Derivative liabilities – current portion $ — $ (7,345) $ — $ (7,345) Derivative liabilities – non-current portion — (234) — (234) Total $ — $ (7,579) (5) $ — $ (7,579) (1) Foreign currency forward contracts with an aggregate notional amount of $78.0 million and an interest rate swap agreement with a notional amount of $64.2 million. (2) Interest rate swap agreement with notional amount of $60.9 million. (3) Foreign currency forward contracts with an aggregate notional amount of $52.0 million and 0.4 million Canadian dollars and an interest rate swap agreement with a notional amount of $60.9 million. (4) Interest rate swap agreement with a notional amount of $64.2 million. (5) Foreign currency forward contracts with an aggregate notional amount of $135.0 million and 0.5 million Canadian dollars and an interest rate swap agreement with a notional amount of $60.9 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 forward and option 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 with counterparties that meet the Company’s minimum credit quality standard. The Company may enter into foreign currency forward contracts with maturities of up to 12 months to hedge fluctuations in the U.S. dollar value of forecasted transactions denominated in Thai baht, including inventory purchases, payroll and other operating expenses. The Company considers these forward contracts as dual-purpose hedges, that hedge both the foreign exchange fluctuation (i) from inception through the forecasted expenditure, and (ii) any subsequent revaluation of the account payable or accrual. The Company may designate the forward contracts that hedge the foreign exchange fluctuation from inception through the forecasted expenditure as cash flow hedges. The gain or loss on a derivative instrument designated and qualified as a cash flow hedging instrument is recorded as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings. The reclassified amounts are presented in the same income statement line item as the earnings effect of the hedged item. Once the forecasted transactions are recorded, the Company will discontinue the hedging relationship by de-designating the derivative instrument and recording subsequent changes in fair value through contract maturity to foreign exchange gain (loss), net in the unaudited condensed consolidated statements of operations and comprehensive income as a natural hedge against the Thai baht denominated assets and liabilities. The Company may also enter into non-designated foreign currency forward and option contracts to provide an offset to the re-measurement of foreign currency denominated assets and liabilities and to hedge certain forecasted exposures. Changes in the fair value of these non-designated derivatives are recorded as foreign exchange gain (loss), net in the unaudited condensed consolidated statements of operations and comprehensive income. As of March 31, 2023, the Company had 130 outstanding U.S. dollar foreign currency forward contracts against Thai baht, with an aggregate notional amount of $130.0 million and maturity dates ranging from April 2023 through October 2023 and one outstanding Canadian dollar foreign currency forward contract with a notional amount of 0.4 million Canadian dollars and a maturity date in June 2023. As of June 24, 2022, the Company had 135 outstanding U.S. dollar foreign currency forward contracts against Thai baht with an aggregate notional amount of $135.0 million and maturity dates ranging from July 2022 through January 2023, and one foreign currency contract with a notional amount of 0.5 million Canadian dollars and with a maturity date in September 2022. As of March 31, 2023, the hedging relationship over foreign currency forward contracts that were designated for hedge accounting was determined to be highly effective based on the performance of retrospective and prospective regression testing. As of March 31, 2023, the amount in accumulated other comprehensive income (“AOCI”) that is expected to be reclassified into earnings within 12 months was a loss of $1.0 million. As of June 24, 2022, the hedging relationship over foreign currency forward contracts that were designated for hedge accounting had been tested to be highly effective based on the performance of retrospective and prospective regression testing. As of June 24, 2022, the amount in AOCI that is expected to be reclassified into earnings within 12 months was a loss of $4.8 million. During the three and nine months ended March 31, 2023, the Company included an unrealized loss of $2.1 million and unrealized gain of $1.8 million, respectively, from changes in the fair value of a foreign currency forward contract that was not designated for hedge accounting in earnings as foreign exchange gain (loss), net in the unaudited condensed consolidated statements of operations and comprehensive income. During the three and nine months ended March 25, 2022, the Company included an unrealized gain of $0.1 million and $0.6 million, respectively, from changes in the fair value of a foreign currency forward contract that was not designated for hedge accounting in earnings as foreign exchange gain (loss), net in the unaudited condensed consolidated statements of operations and comprehensive income. Interest Rate Swap Agreements 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 31, 2023 and June 24, 2022, the Company had two outstanding interest rate swap agreements with an aggregate notional amount of $125.1 million. On July 25, 2018, Fabrinet Thailand entered into an interest rate swap agreement to effectively convert the floating interest rate of the term loan under the Company's previous syndicated senior 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 10). The Company did not designate this interest rate swap for hedge accounting. On September 3, 2019, Fabrinet Thailand entered into a term loan agreement under a credit facility agreement with Bank of Ayudhya Public Company Limited, and on September 10, 2019, the Company repaid in full the outstanding term loan under the Company's previous syndicated senior credit facility agreement (see Note 10). 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 converts the floating interest rate of the Company’s term loan with Bank of Ayudhya Public Company Limited to a fixed interest rate of 4.36% per annum through the maturity of the term loan in June 2024. 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 Bank of Ayudhya Public Company Limited. The combination of these two interest rate swaps qualified for hedge accounting because the hedges are highly effective, and the Company has designated and documented contemporaneously the hedging relationships involving these interest rate swaps. 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 are recorded in AOCI in the unaudited condensed consolidated balance sheets. The Company reclassifies a portion of the gains or losses from AOCI into earnings at each reporting period based on either the accrued interest amount or the interest payment. As of March 31, 2023, the amount in AOCI that is expected to be reclassified into earnings within 12 months was a gain of $0.3 million. As of June 24, 2022, the amount in AOCI that is expected to be reclassified into earnings within 12 months was a loss of $0.5 million. 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 (in thousands) Financial March 31, March 25, March 31, March 25, Derivatives gain (loss) recognized in other comprehensive income (loss): Foreign currency forward contracts Other $ (5,068) $ 1,009 $ 6,694 $ 2,558 Interest rate swaps Other 242 882 1,068 1,885 Total derivatives gain (loss) recognized in other comprehensive income (loss) $ (4,826) $ 1,891 $ 7,762 $ 4,443 Derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings: Foreign currency forward contracts Cost of revenues $ (3,245) $ 1,117 $ 6,083 $ 6,216 Foreign currency forward contracts SG&A (140) 46 250 258 Foreign currency forward contracts Foreign exchange loss, net 2,807 (2,165) (9,183) (7,438) Interest rate swaps Interest expense (131) (223) (477) (736) Total derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings $ (709) $ (1,225) $ (3,327) $ (1,700) Change in net unrealized gain (loss) on derivatives instruments $ (5,535) $ 666 $ 4,435 $ 2,743 Fair Value of derivatives The following table provides the fair values of the Company’s derivative financial instruments for the periods presented: March 31, June 24, (in thousands) Derivative Derivative Derivative Derivative Derivatives not designated as hedging instruments Foreign currency forward and option contracts $ 1,378 $ (7) $ — $ (1,561) Derivatives designated as hedging instruments Foreign currency forward contracts 511 (1,569) — (4,821) Interest rate swaps 199 (218) 110 (1,197) Derivatives, gross balances $ 2,088 $ (1,794) $ 110 $ (7,579) 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, Other non-current assets Fair Value of Derivative Liabilities Accrued expenses, Other non-current liabilities

Inventories

Inventories	9 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories (in thousands) As of March 31, As of June 24, Raw materials $ 174,047 $ 275,730 Work in progress 321,908 217,638 Finished goods 30,244 15,203 Goods in transit 28,048 48,574 Total inventories $ 554,247 $ 557,145

Leases

Leases	9 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	Leases The Company leases facilities under non-cancelable operating lease agreements. The Company leases a portion of its capital equipment and vehicles, certain land and buildings for its facilities in Thailand, the Cayman Islands, the PRC, the U.S., the U.K., Israel and Singapore under operating lease arrangements that expire at various dates through 2025. Certain of these lease arrangements provide the Company the ability to extend the lease from one Operating leases As of March 31, 2023, the maturities of the Company’s operating lease liabilities were as follows: (in thousands) 2023 (remaining three months) $ 644 2024 1,213 2025 45 Total undiscounted lease payments 1,902 Less imputed interest (33) Total present value of lease liabilities $ 1,869 (1) (1) Includes current portion of operating lease liabilities of $1.6 million. 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 31, 2023 was $0.6 million and $1.8 million, respectively, and for the three and nine months ended March 25, 2022 was $0.7 million and $2.1 million, respectively. Rental expense for short-term leases for the three and nine months ended March 31, 2023 was $0.2 million and $0.3 million, respectively, and for the three and nine months ended March 25, 2022 was $0.1 million and $0.2 million, respectively. Finance leases As of March 31, 2023, the Company had one finance lease agreement with a de minimis amount. The following summarizes additional information related to the Company’s operating leases: As of March 31, 2023 As of June 24, 2022 Weighted-average remaining lease term (in years) 1.3 1.8 Weighted-average discount rate 3.4 % 3.4 % The following table presents supplemental disclosure for the unaudited condensed consolidated statement of cash flows related to operating and finance leases for the three and nine months ended March 31, 2023 and March 25, 2022: Three Months Ended Nine Months Ended (in thousands) March 31, March 25, March 31, March 25, Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 575 $ 678 $ 1,877 $ 2,076 Financing cash flows from finance leases $ 2 $ — $ 7 $ — ROU assets obtained in exchange for lease liabilities $ — $ — $ 79 $ 38

Intangibles

Intangibles	9 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangibles	Intangibles The following tables present details of the Company’s intangibles: (in thousands) Gross Accumulated Foreign Net As of March 31, 2023 Software $ 10,379 $ (7,908) $ — $ 2,471 Total intangibles (1) $ 10,379 $ (7,908) $ — $ 2,471 (1) Customer relationships and backlog were written-off in March 2023. (in thousands) Gross Accumulated Foreign Net As of June 24, 2022 Software $ 10,484 $ (7,681) $ — $ 2,803 Customer relationships 4,373 (3,610) (58) 705 Backlog 119 (119) — — Total intangibles $ 14,976 $ (11,410) $ (58) $ 3,508 The Company recorded amortization expense relating to intangibles of $0.3 million and $0.4 million for the three months ended March 31, 2023 and March 25, 2022, respectively, and $1.1 million and $1.2 million for the nine months ended March 31, 2023 and March 25, 2022, respectively. The weighted-average remaining life of software and customer relationships was: (years) As of March 31, 2023 As of June 24, 2022 Software 3.2 3.8 Customer relationships — 3.1 Total intangibles 3.2 3.8 Based on the carrying amount of intangibles as of March 31, 2023, and assuming no future impairment of the underlying assets, the estimated future amortization during each fiscal year was as follows: (in thousands) 2023 (remaining three months) $ 235 2024 847 2025 660 2026 438 2027 230 Thereafter 61 Total $ 2,471

Borrowings

Borrowings	9 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Borrowings	Borrowings The Company’s total borrowings, including current and non-current portions of long-term borrowings, consisted of the following: (in thousands of U.S. dollars) Rate Conditions Maturity As of March 31, 2023 As of June 24, 2022 Long-term borrowings, current portion, net: Long-term borrowings, current portion $ 12,188 $ 12,188 Less: Unamortized debt issuance costs, current portion (32) (32) Long-term borrowings, current portion, net $ 12,156 $ 12,156 Long-term borrowings, non-current portion, net: Term loan borrowings: 3-month LIBOR +1.35% per annum (1) Repayable in June 2024 $ 15,234 $ 27,421 Less: Current portion (12,187) (12,188) Less: Unamortized debt issuance costs, non-current portion (8) (31) Long-term borrowings, non-current portion, net $ 3,039 $ 15,202 (1) The Company has entered into interest rate swaps that effectively fix a series of future interest payments on its term loans. Refer to Note 6. The movements of long-term borrowings for the nine months ended March 31, 2023 and March 25, 2022 were as follows: Nine Months Ended (in thousands) March 31, March 25, Opening balance $ 27,421 $ 39,609 Repayments during the period (12,187) (9,141) Closing balance $ 15,234 $ 30,468 As of March 31, 2023, future maturities of long-term borrowings during each fiscal year were as follows: (in thousands) 2023 (remaining three months) $ 3,047 2024 12,187 Total $ 15,234 Credit facility agreements: On August 20, 2019, Fabrinet Thailand (the “Borrower”) and Bank of Ayudhya Public Company Limited (the “Bank”) entered into a credit facility agreement (the “2019 Credit Facility Agreement”), which provides for a facility of 110.0 million Thai baht (approximately $3.6 million based on the applicable exchange rate as of September 27, 2019) and $160.9 million that may be used for, among other things, an overdraft facility, short-term loans against promissory notes, a letter of guarantee facility, a term loan facility and foreign exchange facilities. The Bank may approve any request for extension of credit under the 2019 Credit Facility Agreement and may increase or decrease any facility amount in its sole discretion. Under the 2019 Credit Facility Agreement, on August 20, 2019, the Borrower and the Bank entered into a term loan agreement (the "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 syndicated senior credit facility agreement. 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. On March 9, 2023, the Borrower and the Bank amended the Term Loan Agreement to replace the interest rate reference from LIBOR to the Secured Overnight Financing Rate ("SOFR") effective from September 29, 2023. 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 borrowed again. During the three and nine months ended March 31, 2023, the Company recorded $0.6 million and $1.7 million, respectively, of interest expense in connection with this term loan, including the impact from interest rate swaps. Any borrowings under the 2019 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, and 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 of 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. As of March 31, 2023, the Company was in compliance with all of its financial covenants under the Term Loan Agreement. The events of default under the Term Loan Agreement include failure to timely pay amounts due under the Term Loan Agreement or the related finance documents, 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. As of March 31, 2023, there was $15.2 million outstanding under the term loan. On March 9, 2023, Fabrinet Thailand and the Parent Company (the “Borrowers”) and the Bank entered into a credit facility agreement (the “2023 Credit Facility Agreement”), which provides a facility of $55.0 million. Any borrowings under the 2023 Credit Facility Agreement are secured by land and buildings owned by the Borrowers in the Pathumthani and Chonburi Provinces in Thailand. Under the 2023 Credit Facility Agreement, the Borrowers are required to maintain a loan to value of the mortgaged real property ratio of not greater than 60%. The Borrowers are also required to maintain a debt service coverage ratio of at least 1.25 times and a debt-to-equity ratio of 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. As of March 31, 2023, there was no amount outstanding under the 2023 Credit Facility.

Income taxes

Income taxes	9 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income taxes	Income taxes As of March 31, 2023 and June 24, 2022, the liability for uncertain tax positions including accrued interest and penalties was $0.9 million and $1.6 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 expiration of statutes of limitations with respect to these positions. The Company files income tax returns in the United States and foreign tax jurisdictions. The tax years from 2015 to 2021 remain open to examination by U.S. federal and state, and foreign tax authorities. The Company’s income tax is recognized based on the best estimate of the expected annual effective tax rate for the full financial year of each entity in the Company, adjusted for discrete items arising in that quarter. If the Company’s estimated annual effective tax rate changes, the Company makes a cumulative adjustment in that quarter. The effective tax rate for the Company for the three months ended March 31, 2023 and March 25, 2022 was 6.5% and 5.4%, respectively, of net income. The increase was primarily due to an increase in income subject to tax during the three months ended March 31, 2023 as compared to the three months ended March 25, 2022. The effective tax rate for the Company for the nine months ended March 31, 2023 and March 25, 2022 was 3.1% and 3.2%, respectively, of net income. The decrease was primarily due to lower annualized effective tax rate offset by an increase in income subject to tax during the nine months ended March 31, 2023 as compared to the nine months ended March 25, 2022.

Share-based compensation

Share-based compensation	9 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-based compensation	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 the Company's ordinary shares on the date of grant. The effect of recording share-based compensation expense for the three and nine months ended March 31, 2023 and March 25, 2022 was as follows: Three Months Ended Nine Months Ended (in thousands) March 31, March 25, March 31, March 25, Share-based compensation expense by type of award: Restricted share units $ 3,945 $ 3,126 $ 12,845 $ 11,720 Performance share units 2,774 2,597 8,372 9,981 Total share-based compensation expense 6,719 5,723 21,217 21,701 Tax effect on share-based compensation expense — — — — Net effect on share-based compensation expense $ 6,719 $ 5,723 $ 21,217 $ 21,701 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 (in thousands) March 31, March 25, March 31, March 25, Cost of revenue $ 1,453 $ 1,183 $ 5,028 $ 4,579 Selling, general and administrative expense 5,080 4,540 16,003 17,122 Restructuring and other related costs 186 — 186 — Total share-based compensation expense $ 6,719 $ 5,723 $ 21,217 $ 21,701 The Company did not capitalize any share-based compensation expense as part of any asset costs during the three and nine months ended March 31, 2023 and March 25, 2022. 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 31, 2023, there were 343,211 restricted share units outstanding, 204,016 performance share units outstanding and 1,958,203 ordinary shares available for future grant under the 2020 Plan. As of March 31, 2023, there were 30,827 restricted share units outstanding under the 2010 Plan. No 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 31, 2023, there were no awards outstanding and 111,347 ordinary shares available for future grant under the 2017 Inducement Plan. The 2020 Plan, 2010 Plan and 2017 Inducement Plan are collectively referred to as the “Equity Incentive Plans.” The following table summarizes the number of equity awards outstanding and ordinary shares available for grant under each of the Equity Incentive Plans as of March 31, 2023: (share units) Restricted Share Units outstanding Performance Share Units outstanding Ordinary Shares available for future grant 2020 Plan 343,211 204,016 1,958,203 2010 Plan 30,827 — — 2017 Inducement Plan — — 111,347 Total 374,038 204,016 2,069,550 Restricted share units and performance share units Restricted share units and performance share units have been granted under the Equity Incentive Plans. Restricted share units granted to employees generally vest in equal installments over three Performance share units granted to executives will vest, if at all, at the end of a two-year performance period based on the Company’s achievement of pre-defined performance criteria, which consist of revenue and non-GAAP operating margin targets. The actual number of performance share units that may vest at the end of the performance period ranges from 0% to 100% of the award grant. The following table summarizes restricted share unit activity under the Equity Incentive Plans: Number Weighted- Balance as of June 24, 2022 459,626 $ 75.14 Granted 154,113 $ 119.23 Vested (220,004) $ 67.23 Forfeited (19,697) $ 91.84 Balance as of March 31, 2023 374,038 $ 97.08 Number Weighted- Balance as of June 25, 2021 641,875 $ 55.74 Granted 165,684 $ 102.74 Vested (310,473) $ 51.12 Forfeited (36,158) $ 69.84 Balance as of March 25, 2022 460,928 $ 73.96 The following table summarizes performance share unit activity under the Equity Incentive Plans: Number Weighted- Balance as of June 24, 2022 285,882 $ 81.64 Granted 97,142 $ 117.35 Vested (179,008) $ 70.05 Forfeited — $ — Balance as of March 31, 2023 204,016 $ 108.81 Number Weighted- Balance as of June 25, 2021 427,028 $ 57.82 Granted 110,832 $ 101.05 Vested (190,213) 48.65 Forfeited (61,765) $ 53.38 Balance as of March 25, 2022 285,882 $ 81.64 The fair value of restricted share units and performance share units is based on the market value of Fabrinet's ordinary shares on the date of grant. As of March 31, 2023, there was $15.1 million and $9.4 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 2.6 and 1.2 years, respectively. For the nine months ended March 31, 2023 and March 25, 2022, the Company withheld an aggregate of 172,929 shares and 210,006 shares, respectively, upon the vesting of restricted share units and performance shares units, based upon the closing share price on the vesting date to settle employee tax withholding obligations. For the nine months ended March 31, 2023 and March 25, 2022, the Company then remitted cash of $17.7 million and $20.4 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 capital.

Shareholders' equity

Shareholders' equity	9 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Shareholders' equity	Shareholders’ equity Share capital Fabrinet’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 31, 2023, Fabrinet issued 23,202 and 226,083 ordinary shares, respectively, upon the vesting of restricted share units and performance share units under the Equity Incentive Plans, net of shares withheld. For the three and nine months ended March 25, 2022, Fabrinet issued 30,729 and 290,680 ordinary shares, respectively, upon the vesting of restricted share units and performance share units under the Equity Incentive Plans, 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, May 2019, August 2020 and August 2022, the Company’s board of directors approved an increase of $30.0 million, $50.0 million, $58.5 million and $78.7 million, respectively, to the original share repurchase authorization, bringing the aggregate authorization to $247.2 million.

Accumulated other comprehensive

Accumulated other comprehensive income (loss)	9 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Accumulated other comprehensive income (loss)	Accumulated other comprehensive income (loss) The changes in AOCI for the nine months ended March 31, 2023 and March 25, 2022 were as follows: (in thousands) Unrealized net Unrealized net Retirement Foreign Total Balance as of June 24, 2022 $ (6,018) $ (5,082) $ (803) $ (890) $ (12,793) Other comprehensive income (loss) before reclassification adjustment 1,675 7,762 — (29) 9,408 Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income 93 (3,327) 338 — (2,896) Tax effects — — — — — Other comprehensive income (loss) $ 1,768 $ 4,435 $ 338 $ (29) $ 6,512 Balance as of March 31, 2023 $ (4,250) $ (647) $ (465) $ (919) $ (6,281) (in thousands) Unrealized net Unrealized net Retirement Foreign Total Balance as of June 25, 2021 $ 308 $ (4,504) $ (1,425) $ (645) $ (6,266) Other comprehensive income (loss) before reclassification adjustment (3,602) 4,443 — (198) 643 Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income (13) (1,700) 448 — (1,265) Tax effects — — — — — Other comprehensive income (loss) $ (3,615) $ 2,743 $ 448 $ (198) $ (622) Balance as of March 25, 2022 $ (3,307) $ (1,761) $ (977) $ (843) $ (6,888)

Commitments and contingencies

Commitments and contingencies	9 Months Ended
	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Bank guarantees As of March 31, 2023 and June 24, 2022, there were outstanding bank guarantees on behalf of the Company's subsidiary in Thailand for electricity usage and other normal business expenses totaling $1.6 million and $1.4 million, respectively, or Thai baht 53.0 million and 50.2 million, respectively. In addition, there were other immaterial bank guarantees on behalf of the Company's subsidiary in Israel to support the operations related to the Customs department. As of June 24, 2022, there was an outstanding bank guarantee on behalf of the Company's subsidiary in the PRC to support the subsidiary's operations totaling Renminbi 1.0 million, which bank guarantee was backed by cash collateral of $0.1 million. This bank guarantee was released in December 2022. In addition, there were other immaterial bank guarantees on behalf of the Company's subsidiary in the U.K. to support its operations. Purchase obligations Purchase obligations represent legally binding commitments to purchase inventory and other commitments made in the normal course of business to meet operational requirements. Although open purchase orders are considered enforceable and legally binding, their terms generally give the Company the option to cancel, reschedule and/or adjust its requirements based on its business needs prior to the delivery of goods or performance of services. Obligations to purchase inventory and other commitments are generally expected to be fulfilled within one year. As of March 31, 2023, the Company had a purchase obligation and other commitments to third parties of $1.09 billion. Capital expenditures As of March 31, 2023, the Company had total capital expenditure commitments to third parties of $18.3 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.

Restructuring and other related

Restructuring and other related costs	9 Months Ended
	Mar. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring and other related costs	Restructuring and other related costsRestructuring and other related costs may consist of voluntary or involuntary severance-related charges, asset-related charges and other costs due to exit activities. We recognize voluntary severance-related charges when an employee accepts the offered benefit arrangement. We recognize involuntary severance-related charges depending on whether the termination benefits are provided under an ongoing benefit arrangement or under a one-time benefit arrangement. If the former, we recognize the charges once they are probable and the amounts are estimable. If the latter, we recognize the charges once the benefits have been communicated to employees.

Business segments and geographi

Business segments and geographic information	9 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Business segments and geographic information	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 31, 2023, 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. For the Company’s revenues by geographic region, see “Revenue by Geographic Area and End Market” in Note 3. The following table presents long-lived assets by the country in which they are based: (in thousands) March 31, June 24, Long-Lived Assets: Thailand $ 261,506 $ 240,750 U.S. 25,669 25,938 China 17,651 19,686 Israel 3,023 4,025 Others 516 1,878 Total $ 308,365 $ 292,277 Significant customers The Company had three customers that each contributed to 10% or more of the Company's total trade accounts receivable as of March 31, 2023 and June 24, 2022.

Accounting policies (Policies)

Accounting policies (Policies)	9 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited condensed consolidated financial statements for Fabrinet as of March 31, 2023 and for the three and nine months ended March 31, 2023 and March 25, 2022 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” or "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 for the year ended June 24, 2022. The balance sheet as of June 24, 2022 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 31, 2023 may not be indicative of results for the year ending June 30, 2023 or any future periods.
Use of Estimates	Use of Estimates 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, allowance for expected credit losses, income taxes, inventory obsolescence, goodwill and valuation of intangible assets related to business acquisition, 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 the Company's estimates or assumptions prove to be different from actual results, adjustments will be made in subsequent periods to reflect more current information. Additionally, the extent to which the evolving COVID-19 pandemic impacts the Company’s unaudited condensed consolidated financial statements will depend on a number of factors, including the magnitude and duration of the pandemic. These estimates may change, as new events occur and additional information is obtained, or based upon the occurrence of other factors related to the COVID-19 pandemic that could result in material impacts to the Company's unaudited condensed consolidated financial statements in future reporting periods.
Fiscal years	Fiscal years The Company utilizes a 52-53 week fiscal year ending on the Friday in June closest to June 30. The three months ended March 31, 2023 and March 25, 2022 consisted of 13 weeks. The nine months ended March 31, 2023 and March 25, 2022 consisted of 40 weeks and 39 weeks, respectively. Fiscal year 2023 will comprise 53 weeks and will end on June 30, 2023.
Adoption of New Accounting Standards	Adoption of New Accounting StandardsIn November 2021, the Financial Accounting Standard Board issued Accounting Standards Update ("ASU") 2021-10, “Government Assistance (Topic 832), Disclosures by Business Entities about Government Assistance,” which requires annual disclosures that increase the transparency of transactions involving government assistance, including (1) the types of transactions, (2) the accounting for those transactions, and (3) the effect of those transactions on an entity’s financial statements. The amendments in this update are effective for all entities within the ASU's scope for financial statements issued for annual periods beginning after December 15, 2021. The Company adopted this standard in the first quarter of fiscal year 2023 with no material impact on its unaudited condensed consolidated financial statements.
Contract Assets and Liabilities	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. 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.

Revenues from contracts with _2

Revenues from contracts with customers (Tables)	9 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue by Geographical Regions	The following table presents total revenues by geographic region: (in thousands, except percentages) Three Months Ended As a % of Total Nine Months Ended As a % of Total North America U.S. $ 310,100 $ 975,098 Others (1) 6,035 13,693 Total revenue in North America 316,135 47.5 % 988,791 49.7 % Asia-Pacific and others India 85,731 247,942 Israel 85,562 182,732 Hong Kong 37,120 109,315 Malaysia 30,688 130,402 Thailand 16,706 45,420 China 11,194 60,738 Japan 10,044 32,129 Others 2,896 7,957 Total revenue in Asia-Pacific and others 279,941 42.1 % 816,635 41.1 % Europe U.K. 40,292 103,440 Germany 14,532 40,975 Ireland (2) 176 438 Others 14,205 39,087 Total revenue in Europe $ 69,205 10.4 % $ 183,940 9.2 % Total revenue $ 665,281 100.0 % $ 1,989,366 100.0 % (in thousands, except percentages) Three Months Ended As a % of Total Nine Months Ended As a % of Total North America U.S. $ 292,475 $ 781,469 Others (1) 4,123 8,996 Total revenue in North America 296,598 52.5 % 790,465 47.2 % Asia-Pacific and others India 70,956 210,009 Malaysia 51,188 163,306 Hong Kong 17,338 61,575 Israel 16,883 67,318 Japan 16,449 47,258 China 12,843 40,624 Others 10,559 34,349 Total revenue in Asia-Pacific and others 196,216 34.8 % 624,439 37.3 % Europe Ireland (2) 28,640 133,024 U.K. 21,632 64,151 Germany 10,688 28,098 Others 10,621 34,173 Total revenue in Europe $ 71,581 12.7 % $ 259,446 15.5 % Total revenue $ 564,395 100.0 % $ 1,674,350 100.0 % (1) Others includes revenues from external customers based in our country of domicile, the Cayman Islands, which for each year presented is $0. (2) Due to change in bill-to-location for a certain customer.
Schedule of Revenues by End Market	The following table presents revenues by end market: (in thousands, except percentages) Three Months Ended As a % of Total Nine Months Ended As a % of Total Optical communications $ 502,615 75.5 % $ 1,506,232 75.7 % Lasers, sensors and other 162,666 24.5 % 483,134 24.3 % Total $ 665,281 100.0 % $ 1,989,366 100.0 % (in thousands, except percentages) Three Months Ended As a % of Total Nine Months Ended As a % of Total Optical communications $ 440,003 78.0 % $ 1,318,087 78.7 % Lasers, sensors and other 124,392 22.0 % 356,263 21.3 % Total $ 564,395 100.0 % $ 1,674,350 100.0 %
Schedule of Activity in the Company's Contract Assets and Liabilities	The following tables summarize the activity in the Company’s contract assets and contract liabilities during the nine months ended March 31, 2023: (in thousands) Contract Beginning balance, June 24, 2022 $ 13,464 Revenue recognized 57,617 Amounts collected or invoiced (50,000) Ending balance, March 31, 2023 $ 21,081 (in thousands) Contract Beginning balance, June 24, 2022 $ 1,982 Advance payment received during the period 13,073 Revenue recognized (11,806) Ending balance, March 31, 2023 $ 3,249

Earnings per ordinary share (Ta

Earnings per ordinary share (Tables)	9 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Ordinary Share	Earnings per ordinary share was calculated as follows: Three Months Ended Nine Months Ended (in thousands, except per share data) March 31, March 25, March 31, March 25, Net income attributable to shareholders $ 59,355 $ 50,661 $ 187,127 $ 144,191 Weighted-average number of ordinary shares outstanding 36,608 36,940 36,575 36,945 Incremental shares arising from the assumed vesting of restricted share units and performance share units 381 533 320 506 Weighted-average number of ordinary shares for diluted earnings per ordinary share 36,989 37,473 36,895 37,451 Basic earnings per ordinary share $ 1.62 $ 1.37 $ 5.12 $ 3.90 Diluted earnings per ordinary share $ 1.60 $ 1.35 $ 5.07 $ 3.85

Cash, cash equivalents and sh_2

Cash, cash equivalents and short-term investments (Tables)	9 Months Ended
	Mar. 31, 2023
Cash and Cash Equivalents [Abstract]
Summary of Components of Cash, Cash Equivalents, and Short-Term Investments	The Company’s cash, cash equivalents, and short-term investments are as follows: Fair Value (in thousands) Carrying Unrealized Cash and Marketable Other As of March 31, 2023 Cash $ 211,433 $ — $ 211,433 $ — $ — Cash equivalents 19,320 (10) 19,310 — — Liquidity funds 40,528 — — — 40,528 Certificates of deposit and time deposits 44,341 43 — 44,384 — Corporate debt securities 215,295 (4,127) — 211,168 — U.S. agency and U.S. treasury securities 12,054 (154) — 11,900 — Total $ 542,971 $ (4,248) $ 230,743 $ 267,452 $ 40,528 As of June 24, 2022 Cash $ 187,630 $ — $ 187,630 $ — $ — Cash equivalents 10,367 (1) 10,366 — — Liquidity funds 31,477 — — — 31,477 Corporate debt securities 234,689 (5,671) — 229,018 — U.S. agency and U.S. treasury securities 20,007 (345) — 19,662 — Total $ 484,170 $ (6,017) $ 197,996 $ 248,680 $ 31,477
Schedule of 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 securities based on stated effective maturities as of March 31, 2023 and June 24, 2022: March 31, 2023 June 24, 2022 (in thousands) Carrying Fair Value Carrying Fair Value Due within one year $ 150,720 $ 150,547 $ 101,976 $ 101,400 Due between one to five years 161,498 157,433 184,197 178,757 Total $ 312,218 $ 307,980 $ 286,173 $ 280,157

Fair value of financial instr_2

Fair value of financial instruments (Tables)	9 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of 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 (in thousands) Level 1 Level 2 Level 3 Total As of March 31, 2023 Assets Cash equivalents $ — $ 19,310 $ — $ 19,310 Liquidity funds — 40,528 — 40,528 Certificates of deposit and time deposits — 44,384 — 44,384 Corporate debt securities — 211,168 — 211,168 U.S. agency and U.S. treasury securities — 11,900 — 11,900 Derivative assets – current portion — 2,078 (1) — 2,078 Derivative assets – non-current portion — 10 (2) — 10 Total $ — $ 329,378 $ — $ 329,378 Liabilities Derivative liabilities – current portion $ — $ (1,794) $ — $ (1,794) Total $ — $ (1,794) (3) $ — $ (1,794) Fair Value Measurements at Reporting Date Using (in thousands) Level 1 Level 2 Level 3 Total As of June 24, 2022 Assets Cash equivalents $ — $ 10,366 $ — $ 10,366 Liquidity funds — 31,477 — 31,477 Corporate debt securities — 229,018 — 229,018 U.S. agency and U.S. treasury securities — 19,662 — 19,662 Derivative assets – current portion — 110 (4) — 110 Total $ — $ 290,633 $ — $ 290,633 Liabilities Derivative liabilities – current portion $ — $ (7,345) $ — $ (7,345) Derivative liabilities – non-current portion — (234) — (234) Total $ — $ (7,579) (5) $ — $ (7,579) (1) Foreign currency forward contracts with an aggregate notional amount of $78.0 million and an interest rate swap agreement with a notional amount of $64.2 million. (2) Interest rate swap agreement with notional amount of $60.9 million. (3) Foreign currency forward contracts with an aggregate notional amount of $52.0 million and 0.4 million Canadian dollars and an interest rate swap agreement with a notional amount of $60.9 million. (4) Interest rate swap agreement with a notional amount of $64.2 million. (5) Foreign currency forward contracts with an aggregate notional amount of $135.0 million and 0.5 million Canadian dollars and an interest rate swap agreement with a notional amount of $60.9 million.
Schedule of Impacts of Derivative Gain (Loss) of Cash Flow Hedges	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 (in thousands) Financial March 31, March 25, March 31, March 25, Derivatives gain (loss) recognized in other comprehensive income (loss): Foreign currency forward contracts Other $ (5,068) $ 1,009 $ 6,694 $ 2,558 Interest rate swaps Other 242 882 1,068 1,885 Total derivatives gain (loss) recognized in other comprehensive income (loss) $ (4,826) $ 1,891 $ 7,762 $ 4,443 Derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings: Foreign currency forward contracts Cost of revenues $ (3,245) $ 1,117 $ 6,083 $ 6,216 Foreign currency forward contracts SG&A (140) 46 250 258 Foreign currency forward contracts Foreign exchange loss, net 2,807 (2,165) (9,183) (7,438) Interest rate swaps Interest expense (131) (223) (477) (736) Total derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings $ (709) $ (1,225) $ (3,327) $ (1,700) Change in net unrealized gain (loss) on derivatives instruments $ (5,535) $ 666 $ 4,435 $ 2,743
Schedule of Derivative Financial Instruments	The following table provides the fair values of the Company’s derivative financial instruments for the periods presented: March 31, June 24, (in thousands) Derivative Derivative Derivative Derivative Derivatives not designated as hedging instruments Foreign currency forward and option contracts $ 1,378 $ (7) $ — $ (1,561) Derivatives designated as hedging instruments Foreign currency forward contracts 511 (1,569) — (4,821) Interest rate swaps 199 (218) 110 (1,197) Derivatives, gross balances $ 2,088 $ (1,794) $ 110 $ (7,579)
Schedule of Derivative Financial Instruments in the Unaudited Condensed Consolidated Balance Sheets	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, Other non-current assets Fair Value of Derivative Liabilities Accrued expenses, Other non-current liabilities

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Mar. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory	(in thousands) As of March 31, As of June 24, Raw materials $ 174,047 $ 275,730 Work in progress 321,908 217,638 Finished goods 30,244 15,203 Goods in transit 28,048 48,574 Total inventories $ 554,247 $ 557,145

Leases (Tables)

Leases (Tables)	9 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Schedule of Operating Lease Liabilities	As of March 31, 2023, the maturities of the Company’s operating lease liabilities were as follows: (in thousands) 2023 (remaining three months) $ 644 2024 1,213 2025 45 Total undiscounted lease payments 1,902 Less imputed interest (33) Total present value of lease liabilities $ 1,869 (1)
Summary of Additional Information Related to Operating and Finance Lease	The following summarizes additional information related to the Company’s operating leases: As of March 31, 2023 As of June 24, 2022 Weighted-average remaining lease term (in years) 1.3 1.8 Weighted-average discount rate 3.4 % 3.4 %
Schedule of Supplemental Cash Flow and Other Information Related to Leases	The following table presents supplemental disclosure for the unaudited condensed consolidated statement of cash flows related to operating and finance leases for the three and nine months ended March 31, 2023 and March 25, 2022: Three Months Ended Nine Months Ended (in thousands) March 31, March 25, March 31, March 25, Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 575 $ 678 $ 1,877 $ 2,076 Financing cash flows from finance leases $ 2 $ — $ 7 $ — ROU assets obtained in exchange for lease liabilities $ — $ — $ 79 $ 38

Intangibles (Tables)

Intangibles (Tables)	9 Months Ended
	Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	The following tables present details of the Company’s intangibles: (in thousands) Gross Accumulated Foreign Net As of March 31, 2023 Software $ 10,379 $ (7,908) $ — $ 2,471 Total intangibles (1) $ 10,379 $ (7,908) $ — $ 2,471 (1) Customer relationships and backlog were written-off in March 2023. (in thousands) Gross Accumulated Foreign Net As of June 24, 2022 Software $ 10,484 $ (7,681) $ — $ 2,803 Customer relationships 4,373 (3,610) (58) 705 Backlog 119 (119) — — Total intangibles $ 14,976 $ (11,410) $ (58) $ 3,508
Schedule of Weighted-Average Remaining Life of Intangible Assets	The weighted-average remaining life of software and customer relationships was: (years) As of March 31, 2023 As of June 24, 2022 Software 3.2 3.8 Customer relationships — 3.1 Total intangibles 3.2 3.8
Schedule of Estimated Future Amortization of Intangibles Assets	Based on the carrying amount of intangibles as of March 31, 2023, and assuming no future impairment of the underlying assets, the estimated future amortization during each fiscal year was as follows: (in thousands) 2023 (remaining three months) $ 235 2024 847 2025 660 2026 438 2027 230 Thereafter 61 Total $ 2,471

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Total Borrowings, Including Revolving and Long-Term Borrowings	The Company’s total borrowings, including current and non-current portions of long-term borrowings, consisted of the following: (in thousands of U.S. dollars) Rate Conditions Maturity As of March 31, 2023 As of June 24, 2022 Long-term borrowings, current portion, net: Long-term borrowings, current portion $ 12,188 $ 12,188 Less: Unamortized debt issuance costs, current portion (32) (32) Long-term borrowings, current portion, net $ 12,156 $ 12,156 Long-term borrowings, non-current portion, net: Term loan borrowings: 3-month LIBOR +1.35% per annum (1) Repayable in June 2024 $ 15,234 $ 27,421 Less: Current portion (12,187) (12,188) Less: Unamortized debt issuance costs, non-current portion (8) (31) Long-term borrowings, non-current portion, net $ 3,039 $ 15,202 (1) The Company has entered into interest rate swaps that effectively fix a series of future interest payments on its term loans. Refer to Note 6.
Schedule of Movements of Long-Term Loans	The movements of long-term borrowings for the nine months ended March 31, 2023 and March 25, 2022 were as follows: Nine Months Ended (in thousands) March 31, March 25, Opening balance $ 27,421 $ 39,609 Repayments during the period (12,187) (9,141) Closing balance $ 15,234 $ 30,468
Schedule of Future Maturities of Long-Term Debt	As of March 31, 2023, future maturities of long-term borrowings during each fiscal year were as follows: (in thousands) 2023 (remaining three months) $ 3,047 2024 12,187 Total $ 15,234

Share-based compensation (Table

Share-based compensation (Tables)	9 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Effect of Recording Share-Based Compensation Expense	The effect of recording share-based compensation expense for the three and nine months ended March 31, 2023 and March 25, 2022 was as follows: Three Months Ended Nine Months Ended (in thousands) March 31, March 25, March 31, March 25, Share-based compensation expense by type of award: Restricted share units $ 3,945 $ 3,126 $ 12,845 $ 11,720 Performance share units 2,774 2,597 8,372 9,981 Total share-based compensation expense 6,719 5,723 21,217 21,701 Tax effect on share-based compensation expense — — — — Net effect on share-based compensation expense $ 6,719 $ 5,723 $ 21,217 $ 21,701
Schedule of 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 (in thousands) March 31, March 25, March 31, March 25, Cost of revenue $ 1,453 $ 1,183 $ 5,028 $ 4,579 Selling, general and administrative expense 5,080 4,540 16,003 17,122 Restructuring and other related costs 186 — 186 — Total share-based compensation expense $ 6,719 $ 5,723 $ 21,217 $ 21,701
Share-Based Payment Arrangement, Activity	The following table summarizes the number of equity awards outstanding and ordinary shares available for grant under each of the Equity Incentive Plans as of March 31, 2023: (share units) Restricted Share Units outstanding Performance Share Units outstanding Ordinary Shares available for future grant 2020 Plan 343,211 204,016 1,958,203 2010 Plan 30,827 — — 2017 Inducement Plan — — 111,347 Total 374,038 204,016 2,069,550
Schedule of Restricted Share Unit Activity	The following table summarizes restricted share unit activity under the Equity Incentive Plans: Number Weighted- Balance as of June 24, 2022 459,626 $ 75.14 Granted 154,113 $ 119.23 Vested (220,004) $ 67.23 Forfeited (19,697) $ 91.84 Balance as of March 31, 2023 374,038 $ 97.08 Number Weighted- Balance as of June 25, 2021 641,875 $ 55.74 Granted 165,684 $ 102.74 Vested (310,473) $ 51.12 Forfeited (36,158) $ 69.84 Balance as of March 25, 2022 460,928 $ 73.96
Schedule of Performance Share Unit Activity	The following table summarizes performance share unit activity under the Equity Incentive Plans: Number Weighted- Balance as of June 24, 2022 285,882 $ 81.64 Granted 97,142 $ 117.35 Vested (179,008) $ 70.05 Forfeited — $ — Balance as of March 31, 2023 204,016 $ 108.81 Number Weighted- Balance as of June 25, 2021 427,028 $ 57.82 Granted 110,832 $ 101.05 Vested (190,213) 48.65 Forfeited (61,765) $ 53.38 Balance as of March 25, 2022 285,882 $ 81.64

Accumulated other comprehensi_2

Accumulated other comprehensive income (loss) (Tables)	9 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Schedue of Changes in AOCI	The changes in AOCI for the nine months ended March 31, 2023 and March 25, 2022 were as follows: (in thousands) Unrealized net Unrealized net Retirement Foreign Total Balance as of June 24, 2022 $ (6,018) $ (5,082) $ (803) $ (890) $ (12,793) Other comprehensive income (loss) before reclassification adjustment 1,675 7,762 — (29) 9,408 Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income 93 (3,327) 338 — (2,896) Tax effects — — — — — Other comprehensive income (loss) $ 1,768 $ 4,435 $ 338 $ (29) $ 6,512 Balance as of March 31, 2023 $ (4,250) $ (647) $ (465) $ (919) $ (6,281) (in thousands) Unrealized net Unrealized net Retirement Foreign Total Balance as of June 25, 2021 $ 308 $ (4,504) $ (1,425) $ (645) $ (6,266) Other comprehensive income (loss) before reclassification adjustment (3,602) 4,443 — (198) 643 Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income (13) (1,700) 448 — (1,265) Tax effects — — — — — Other comprehensive income (loss) $ (3,615) $ 2,743 $ 448 $ (198) $ (622) Balance as of March 25, 2022 $ (3,307) $ (1,761) $ (977) $ (843) $ (6,888)

Business segments and geograp_2

Business segments and geographic information (Tables)	9 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Schedule of Long-lived Assets by Geographic Areas	The following table presents long-lived assets by the country in which they are based: (in thousands) March 31, June 24, Long-Lived Assets: Thailand $ 261,506 $ 240,750 U.S. 25,669 25,938 China 17,651 19,686 Israel 3,023 4,025 Others 516 1,878 Total $ 308,365 $ 292,277

Revenues from contracts with _3

Revenues from contracts with customers - Narrative (Details)	9 Months Ended
	Mar. 31, 2023 region
Revenue from Contract with Customer [Abstract]
Number of geographic regions	3

Revenues from contracts with _4

Revenues from contracts with customers - Schedule of Disaggregation of Revenue by Geographical Regions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022	Mar. 31, 2023	Mar. 25, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 665,281	$ 564,395	$ 1,989,366	$ 1,674,350
Geographic concentration risk | Revenue from contract with customer benchmark
Disaggregation of Revenue [Line Items]
Revenues, percentage	100%	100%	100%	100%
North America
Disaggregation of Revenue [Line Items]
Revenues	$ 316,135	$ 296,598	$ 988,791	$ 790,465
North America | Geographic concentration risk | Revenue from contract with customer benchmark
Disaggregation of Revenue [Line Items]
Revenues, percentage	47.50%	52.50%	49.70%	47.20%
U.S.
Disaggregation of Revenue [Line Items]
Revenues	$ 310,100	$ 292,475	$ 975,098	$ 781,469
Others
Disaggregation of Revenue [Line Items]
Revenues	6,035	4,123	13,693	8,996
CAYMAN ISLANDS
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Asia-Pacific and others
Disaggregation of Revenue [Line Items]
Revenues	$ 279,941	$ 196,216	$ 816,635	$ 624,439
Asia-Pacific and others | Geographic concentration risk | Revenue from contract with customer benchmark
Disaggregation of Revenue [Line Items]
Revenues, percentage	42.10%	34.80%	41.10%	37.30%
India
Disaggregation of Revenue [Line Items]
Revenues	$ 85,731	$ 70,956	$ 247,942	$ 210,009
Israel
Disaggregation of Revenue [Line Items]
Revenues	85,562	16,883	182,732	67,318
Hong Kong
Disaggregation of Revenue [Line Items]
Revenues	37,120	17,338	109,315	61,575
Malaysia
Disaggregation of Revenue [Line Items]
Revenues	30,688	51,188	130,402	163,306
Thailand
Disaggregation of Revenue [Line Items]
Revenues	16,706		45,420
China
Disaggregation of Revenue [Line Items]
Revenues	11,194	12,843	60,738	40,624
Japan
Disaggregation of Revenue [Line Items]
Revenues	10,044	16,449	32,129	47,258
Others
Disaggregation of Revenue [Line Items]
Revenues	2,896	10,559	7,957	34,349
Europe
Disaggregation of Revenue [Line Items]
Revenues	$ 69,205	$ 71,581	$ 183,940	$ 259,446
Europe | Geographic concentration risk | Revenue from contract with customer benchmark
Disaggregation of Revenue [Line Items]
Revenues, percentage	10.40%	12.70%	9.20%	15.50%
U.K.
Disaggregation of Revenue [Line Items]
Revenues	$ 40,292	$ 21,632	$ 103,440	$ 64,151
Germany
Disaggregation of Revenue [Line Items]
Revenues	14,532	10,688	40,975	28,098
Ireland
Disaggregation of Revenue [Line Items]
Revenues	176	28,640	438	133,024
Others
Disaggregation of Revenue [Line Items]
Revenues	$ 14,205	$ 10,621	$ 39,087	$ 34,173

Revenues from contracts with _5

Revenues from contracts with customers - Schedule of Revenues by End Market (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022	Mar. 31, 2023	Mar. 25, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 665,281	$ 564,395	$ 1,989,366	$ 1,674,350
Revenue from contract with customer benchmark | Geographic concentration risk
Disaggregation of Revenue [Line Items]
Revenues, percentage	100%	100%	100%	100%
Optical communications
Disaggregation of Revenue [Line Items]
Revenues	$ 502,615	$ 440,003	$ 1,506,232	$ 1,318,087
Optical communications | Revenue from contract with customer benchmark | Geographic concentration risk
Disaggregation of Revenue [Line Items]
Revenues, percentage	75.50%	78%	75.70%	78.70%
Lasers, sensors and other
Disaggregation of Revenue [Line Items]
Revenues	$ 162,666	$ 124,392	$ 483,134	$ 356,263
Lasers, sensors and other | Revenue from contract with customer benchmark | Geographic concentration risk
Disaggregation of Revenue [Line Items]
Revenues, percentage	24.50%	22%	24.30%	21.30%

Revenues from contracts with _6

Revenues from contracts with customers - Schedule of Activity in the Company's Contract Assets and Liabilities (Details) $ in Thousands	9 Months Ended
	Mar. 31, 2023 USD ($)
Contract Assets
Beginning balance, June 24, 2022	$ 13,464
Revenue recognized	57,617
Amounts collected or invoiced	(50,000)
Ending balance, March 31, 2023	21,081
Contract Liabilities
Beginning balance, June 24, 2022	1,982
Advance payment received during the period	13,073
Revenue recognized	(11,806)
Ending balance, March 31, 2023	$ 3,249

Earnings per ordinary share (De

Earnings per ordinary share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022	Mar. 31, 2023	Mar. 25, 2022
Earnings Per Share [Abstract]
Net income attributable to shareholders	$ 59,355	$ 50,661	$ 187,127	$ 144,191
Weighted-average number of ordinary shares outstanding (in shares)	36,608	36,940	36,575	36,945
Incremental shares arising from the assumed vesting of restricted share units and performance share units (in shares)	381	533	320	506
Weighted-average number of ordinary shares for diluted earnings per ordinary share (in shares)	36,989	37,473	36,895	37,451
Basic earnings per ordinary share (in USD per share)	$ 1.62	$ 1.37	$ 5.12	$ 3.90
Diluted earnings per ordinary share (in USD per share)	$ 1.60	$ 1.35	$ 5.07	$ 3.85

Cash, cash equivalents and sh_3

Cash, cash equivalents and short-term investments - Summary of Components of Cash, Cash Equivalents, and Short-Term Investments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 24, 2022	Mar. 25, 2022
Cash and Cash Equivalents [Line Items]
Carrying cost, total	$ 312,218	$ 286,173
Cash and cash equivalents and marketable securities, carrying cost	542,971	484,170
Unrealized Gain/ (Loss)	(4,248)	(6,017)
Cash and cash equivalents	230,743	197,996	$ 269,140
Marketable Securities	267,452	248,680
Other Investments	40,528	31,477
Cash
Cash and Cash Equivalents [Line Items]
Carrying Cost	211,433	187,630
Cash and cash equivalents	211,433	187,630
Cash equivalents
Cash and Cash Equivalents [Line Items]
Carrying Cost	19,320	10,367
Unrealized Gain/ (Loss)	(10)	(1)
Cash and cash equivalents	19,310	10,366
Liquidity funds
Cash and Cash Equivalents [Line Items]
Carrying Cost	40,528	31,477
Unrealized Gain/ (Loss)		0
Other Investments	40,528	31,477
Certificates of deposit and time deposits
Cash and Cash Equivalents [Line Items]
Carrying cost, total	44,341
Unrealized Gain/ (Loss)	43
Marketable Securities	44,384
Corporate debt securities
Cash and Cash Equivalents [Line Items]
Carrying cost, total	215,295	234,689
Unrealized Gain/ (Loss)	(4,127)	(5,671)
Marketable Securities	211,168	229,018
U.S. agency and U.S. treasury securities
Cash and Cash Equivalents [Line Items]
Carrying cost, total	12,054	20,007
Unrealized Gain/ (Loss)	(154)	(345)
Marketable Securities	$ 11,900	$ 19,662

Cash, cash equivalents and sh_4

Cash, cash equivalents and short-term investments - Narrative (Details)	9 Months Ended
	Mar. 31, 2023
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

Cash, cash equivalents and sh_5

Cash, cash equivalents and short-term investments - Schedule of Available-for-Sale Securities Based on Stated Effective Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 24, 2022
Investments Classified by Contractual Maturity Date [Line Items]
Carrying cost, total	$ 312,218	$ 286,173
Fair value, total	267,452	248,680
Carrying Cost
Investments Classified by Contractual Maturity Date [Line Items]
Carrying cost, due within one year	150,720	101,976
Carrying cost, due between one to five years	161,498	184,197
Fair Value
Investments Classified by Contractual Maturity Date [Line Items]
Fair value, due within one year	150,547	101,400
Fair value, due between one to five years	157,433	178,757
Fair value, total	$ 307,980	$ 280,157

Fair value of financial instr_3

Fair value of financial instruments - Schedule of Financial Instruments Measured at Fair Value on Recurring Basis (Details) $ in Thousands, $ in Millions	Mar. 31, 2023 USD ($)	Mar. 31, 2023 CAD ($)	Jun. 24, 2022 USD ($)	Jun. 24, 2022 CAD ($)
Foreign currency forward contracts
Liabilities
Derivative assets, notional amount	$ 78,000	$ 0.4	$ 64,200
Derivative liabilities, notional amount	52,000		135,000	$ 0.5
Fair value, measurements, recurring
Assets
Derivative assets – current portion	2,078		110
Derivative assets – non-current portion	10
Total	329,378		290,633
Liabilities
Derivative liabilities – current portion	(1,794)		(7,345)
Derivative liabilities – non-current portion			(234)
Total	(1,794)		(7,579)
Fair value, measurements, recurring | Interest rate swaps
Liabilities
Derivative assets, notional amount	64,200
Derivative liabilities, notional amount	60,900		60,900
Fair value, measurements, recurring | Cash equivalents
Assets
Marketable securities	19,310		10,366
Fair value, measurements, recurring | Liquidity funds
Assets
Marketable securities	40,528		31,477
Fair value, measurements, recurring | Certificates of deposit and time deposits
Assets
Marketable securities	44,384
Fair value, measurements, recurring | Corporate debt securities
Assets
Marketable securities	211,168		229,018
Fair value, measurements, recurring | U.S. agency and U.S. treasury securities
Assets
Marketable securities	11,900		19,662
Level 1 | Fair value, measurements, recurring
Assets
Derivative assets – current portion	0		0
Derivative assets – non-current portion	0
Total	0		0
Liabilities
Derivative liabilities – current portion	0		0
Derivative liabilities – non-current portion			0
Total	0		0
Level 1 | Fair value, measurements, recurring | Cash equivalents
Assets
Marketable securities	0		0
Level 1 | Fair value, measurements, recurring | Liquidity funds
Assets
Marketable securities	0		0
Level 1 | Fair value, measurements, recurring | Certificates of deposit and time deposits
Assets
Marketable securities	0
Level 1 | Fair value, measurements, recurring | Corporate debt securities
Assets
Marketable securities	0		0
Level 1 | Fair value, measurements, recurring | U.S. agency and U.S. treasury securities
Assets
Marketable securities	0		0
Level 2 | Fair value, measurements, recurring
Assets
Derivative assets – current portion	2,078		110
Derivative assets – non-current portion	10
Total	329,378		290,633
Liabilities
Derivative liabilities – current portion	(1,794)		(7,345)
Derivative liabilities – non-current portion			(234)
Total	(1,794)		(7,579)
Level 2 | Fair value, measurements, recurring | Cash equivalents
Assets
Marketable securities	19,310		10,366
Level 2 | Fair value, measurements, recurring | Liquidity funds
Assets
Marketable securities	40,528		31,477
Level 2 | Fair value, measurements, recurring | Certificates of deposit and time deposits
Assets
Marketable securities	44,384
Level 2 | Fair value, measurements, recurring | Corporate debt securities
Assets
Marketable securities	211,168		229,018
Level 2 | Fair value, measurements, recurring | U.S. agency and U.S. treasury securities
Assets
Marketable securities	11,900		19,662
Level 3 | Fair value, measurements, recurring
Assets
Derivative assets – current portion	0		0
Derivative assets – non-current portion	0
Total	0		0
Liabilities
Derivative liabilities – current portion	0		0
Derivative liabilities – non-current portion			0
Total	0		0
Level 3 | Fair value, measurements, recurring | Cash equivalents
Assets
Marketable securities	0		0
Level 3 | Fair value, measurements, recurring | Liquidity funds
Assets
Marketable securities	0		0
Level 3 | Fair value, measurements, recurring | Certificates of deposit and time deposits
Assets
Marketable securities	0
Level 3 | Fair value, measurements, recurring | Corporate debt securities
Assets
Marketable securities	0		0
Level 3 | Fair value, measurements, recurring | U.S. agency and U.S. treasury securities
Assets
Marketable securities	$ 0		$ 0

Fair value of financial instr_4

Fair value of financial instruments - Narrative (Details) $ in Millions, $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2023 USD ($) contract	Mar. 25, 2022 USD ($)	Mar. 31, 2023 USD ($) contract	Mar. 25, 2022 USD ($)	Jun. 24, 2022 USD ($) contract	Mar. 31, 2023 CAD ($) contract	Jun. 24, 2022 CAD ($) contract	Sep. 27, 2019 contract	Sep. 03, 2019	Jul. 25, 2018
Foreign Currency Fair Value Hedge Derivative [Line Items]
Fixed interest rate										2.86%
Foreign currency forward contracts
Foreign Currency Fair Value Hedge Derivative [Line Items]
Gain (loss) from accumulated other comprehensive income expected to be reclassified			$ (1)		$ (4.8)
Unrealized gain (loss) on derivatives	$ (2.1)	$ 0.1	$ 1.8	$ 0.6
Foreign currency forward contracts | Designated as hedging instrument | Thailand, baht
Foreign Currency Fair Value Hedge Derivative [Line Items]
Number of forward contracts outstanding | contract	130		130		135,000	130	135,000
Derivative, notional amount	$ 130		$ 130		$ 135
Foreign currency forward contracts | Designated as hedging instrument | Canada, dollars
Foreign Currency Fair Value Hedge Derivative [Line Items]
Number of forward contracts outstanding | contract	1		1		1	1	1
Derivative, notional amount						$ 0.4	$ 0.5
Interest rate swaps
Foreign Currency Fair Value Hedge Derivative [Line Items]
Number of forward contracts outstanding | contract	2		2		2	2	2	2
Derivative, notional amount	$ 125.1		$ 125.1		$ 125.1
Gain (loss) from accumulated other comprehensive income expected to be reclassified			$ 0.3		$ (0.5)
Interest rate swaps | Bank of Ayudhya Public Company | Bank of America Credit Facility
Foreign Currency Fair Value Hedge Derivative [Line Items]
Debt instrument stated interest percentage									4.36%

Fair value of financial instr_5

Fair value of financial instruments - Schedule of Impacts of Derivative Gain (Loss) of Cash Flow Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022	Mar. 31, 2023	Mar. 25, 2022
Derivatives gain (loss) recognized in other comprehensive income (loss):
Total derivatives gain (loss) recognized in other comprehensive income (loss)	$ (4,826)	$ 1,891	$ 7,762	$ 4,443
Derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings:
Total derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings	(709)	(1,225)	(3,327)	(1,700)
Change in net unrealized gain (loss) on derivatives instruments	(5,535)	666	4,435	2,743
Foreign currency forward contracts | Cost of revenues
Derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings:
Total derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings	(3,245)	1,117	6,083	6,216
Foreign currency forward contracts | SG&A
Derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings:
Total derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings	(140)	46	250	258
Foreign currency forward contracts | Foreign exchange loss, net
Derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings:
Total derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings	2,807	(2,165)	(9,183)	(7,438)
Foreign currency forward contracts | Other comprehensive income
Derivatives gain (loss) recognized in other comprehensive income (loss):
Total derivatives gain (loss) recognized in other comprehensive income (loss)	(5,068)	1,009	6,694	2,558
Interest rate swaps | Interest expense
Derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings:
Total derivatives (gain) loss reclassified from accumulated other comprehensive income (loss) into earnings	(131)	(223)	(477)	(736)
Interest rate swaps | Other comprehensive income
Derivatives gain (loss) recognized in other comprehensive income (loss):
Total derivatives gain (loss) recognized in other comprehensive income (loss)	$ 242	$ 882	$ 1,068	$ 1,885

Fair value of financial instr_6

Fair value of financial instruments - Schedule of Derivative Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 24, 2022
Derivatives designates as hedging instruments:
Derivative assets, gross balances	$ 2,088	$ 110
Derivative liabilities, gross balances	(1,794)	(7,579)
Foreign currency forward and option contracts
Derivatives not designated as hedging instruments
Derivative Assets	1,378	0
Derivative Liabilities	(7)	(1,561)
Foreign currency forward contracts
Derivatives designates as hedging instruments:
Derivative Assets	511	0
Derivative Liabilities	(1,569)	(4,821)
Interest rate swaps
Derivatives designates as hedging instruments:
Derivative Assets	199	110
Derivative Liabilities	$ (218)	$ (1,197)

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 24, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 174,047	$ 275,730
Work in progress	321,908	217,638
Finished goods	30,244	15,203
Goods in transit	28,048	48,574
Total inventories	$ 554,247	$ 557,145

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2023 USD ($) Agreements	Mar. 25, 2022 USD ($)	Mar. 31, 2023 USD ($) Agreements lease	Mar. 25, 2022 USD ($)
Number of intercompany lease | lease			1
Operating lease rental expense	$ 0.6	$ 0.7	$ 1.8	$ 2.1
Short-term lease, cost	$ 0.2	$ 0.1	$ 0.3	$ 0.2
Number finance lease agreement, minimis amount | Agreements	1		1
Minimum
Lessee operating lease option to extend term			1 year
Maximum
Lessee operating lease option to extend term			5 years

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 24, 2022
Leases [Abstract]
2023 (remaining three months)	$ 644
2024	1,213
2025	45
Total undiscounted lease payments	1,902
Less imputed interest	(33)
Total present value of lease liabilities	1,869
Operating lease liabilities, current portion	$ 1,634	$ 2,319

Leases - Summary of Additional

Leases - Summary of Additional Information Related to Operating and Finance Lease (Details)	Mar. 31, 2023	Jun. 24, 2022
Leases [Abstract]
Weighted-average remaining lease term (in years)	1 year 3 months 18 days	1 year 9 months 18 days
Weighted-average discount rate	3.40%	3.40%

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow and Other Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022	Mar. 31, 2023	Mar. 25, 2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$ 575	$ 678	$ 1,877	$ 2,076
Financing cash flows from finance leases	2	0	7	0
ROU assets obtained in exchange for lease liabilities	$ 0	$ 0	$ 79	$ 38

Intangibles - Schedule of Intan

Intangibles - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Mar. 31, 2023	Jun. 24, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 10,379	$ 14,976
Accumulated Amortization	(7,908)	(11,410)
Foreign Currency Translation Adjustment	0	(58)
Intangibles, net	2,471	3,508
Software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	10,379	10,484
Accumulated Amortization	(7,908)	(7,681)
Intangibles, net	$ 2,471	2,803
Customer relationships (1)
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		4,373
Accumulated Amortization		(3,610)
Foreign Currency Translation Adjustment		(58)
Intangibles, net		705
Backlog
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount		119
Accumulated Amortization		$ (119)

Intangibles - Narrative (Detail

Intangibles - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022	Mar. 31, 2023	Mar. 25, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense related to intangibles	$ 0.3	$ 0.4	$ 1.1	$ 1.2

Intangibles - Schedule of Weigh

Intangibles - Schedule of Weighted-Average Remaining Life of Intangible Assets (Details)	9 Months Ended	12 Months Ended
	Mar. 31, 2023	Jun. 24, 2022
Software
Finite-Lived Intangible Liabilities [Line Items]
Weighted average remaining life of acquired intangible assets	3 years 2 months 12 days	3 years 9 months 18 days
Customer relationships (1)
Finite-Lived Intangible Liabilities [Line Items]
Weighted average remaining life of acquired intangible assets	0 years	3 years 1 month 6 days
Total intangibles
Finite-Lived Intangible Liabilities [Line Items]
Weighted average remaining life of acquired intangible assets	3 years 2 months 12 days	3 years 9 months 18 days

Intangibles - Schedule of Estim

Intangibles - Schedule of Estimated Future Amortization of Intangibles Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 24, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2023 (remaining three months)	$ 235
2024	847
2025	660
2026	438
2027	230
Thereafter	61
Total	$ 2,471	$ 3,508

Borrowings - Schedule of Total

Borrowings - Schedule of Total Borrowings, Including Revolving and Long-Term Borrowings (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2023	Jun. 24, 2022
Debt Instrument [Line Items]
Long-term borrowings, current portion	$ 12,188	$ 12,188
Less: Unamortized debt issuance costs, current portion	(32)	(32)
Long-term borrowings, current portion, net	12,156	12,156
Less: Current portion	(12,187)	(12,188)
Less: Unamortized debt issuance costs, non-current portion	(8)	(31)
Long-term borrowings, non-current portion, net	3,039	15,202
Loan payable due June 2024
Debt Instrument [Line Items]
Long-term debt	$ 15,234	$ 27,421
Loan payable due June 2024 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.35%

Borrowings - Schedule of Moveme

Borrowings - Schedule of Movements of Long-Term Loans (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022
Debt Disclosure [Abstract]
Opening balance	$ 27,421	$ 39,609
Repayments during the period	(12,187)	(9,141)
Closing balance	$ 15,234	$ 30,468

Borrowings - Schedule of Future

Borrowings - Schedule of Future Maturities of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 24, 2022	Mar. 25, 2022	Jun. 25, 2021
Debt Disclosure [Abstract]
2023 (remaining three months)	$ 3,047
2024	12,187
Total	$ 15,234	$ 27,421	$ 30,468	$ 39,609

Borrowings - Narrative (Details

Borrowings - Narrative (Details) $ in Thousands, ฿ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2023 USD ($)	Mar. 09, 2023 USD ($)	Jun. 24, 2022 USD ($)	Sep. 27, 2019 USD ($)	Sep. 03, 2019 USD ($)	Aug. 20, 2019 USD ($)	Aug. 20, 2019 THB (฿)
Loan Payable Due June Twenty Twenty Four [Member]
Line of Credit Facility [Line Items]
Long term debt outstanding	$ 15,234	$ 15,234		$ 27,421
Loan Payable Due June Twenty Twenty Four [Member] | LIBOR
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		1.35%
Line of Credit | 2023 Credit Facility Agreement
Line of Credit Facility [Line Items]
Line of credit facility borrowing capacity			$ 55,000
Loan to value ratio			0.60
Minimum service coverage ratio			1.25
Maximum debt to equity ratio			1
Service coverage ratio, minimum at payment of a dividend			1.50
Long term debt outstanding	0	$ 0
Term loan agreement
Line of Credit Facility [Line Items]
Long term debt outstanding	15,200	15,200
Bank of Ayudhya Public Company Limited
Line of Credit Facility [Line Items]
Debt Instrument, Periodic Payment		3,000
Interest expense on debt	$ 600	$ 1,700
Bank of Ayudhya Public Company Limited | Term loan agreement
Line of Credit Facility [Line Items]
Loan to value ratio	0.65	0.65
Minimum service coverage ratio	1.25	1.25
Maximum debt to equity ratio	1	1
Service coverage ratio, minimum at payment of a dividend	1.50	1.50
Bank of Ayudhya Public Company Limited | 2019 Credit Facility Agreement
Line of Credit Facility [Line Items]
Line of credit facility borrowing capacity					$ 3,600		$ 160,900	฿ 110
Bank of Ayudhya Public Company Limited | Term loan agreement
Line of Credit Facility [Line Items]
Debt instrument, face amount						$ 60,900

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022	Mar. 31, 2023	Mar. 25, 2022	Jun. 24, 2022
Income Tax Disclosure [Abstract]
Liability for uncertain tax positions including accrued interest and penalties	$ 0.9		$ 0.9		$ 1.6
Corporate effective income tax rate	6.50%	5.40%	3.10%	3.20%

Share-based compensation - Summ

Share-based compensation - Summary of Effect of Recording Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022	Mar. 31, 2023	Mar. 25, 2022
Share-based compensation expense by type of award:
Restricted share units	$ 3,945	$ 3,126	$ 12,845	$ 11,720
Performance share units	2,774	2,597	8,372	9,981
Total share-based compensation expense	6,719	5,723	21,217	21,701
Tax effect on share-based compensation expense	0	0	0	0
Net effect on share-based compensation expense	$ 6,719	$ 5,723	$ 21,217	$ 21,701

Share-based compensation - Sche

Share-based compensation - Schedule of Share-Based Compensation Expense Recorded in Condensed Consolidated Statements of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022	Mar. 31, 2023	Mar. 25, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 6,719	$ 5,723	$ 21,217	$ 21,701
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	1,453	1,183	5,028	4,579
Selling, general and administrative expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	5,080	4,540	16,003	17,122
Restructuring and other related costs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total share-based compensation expense	$ 186	$ 0	$ 186	$ 0

Share-based compensation - Narr

Share-based compensation - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022	Mar. 31, 2023	Mar. 25, 2022	Jun. 24, 2022	Jun. 25, 2021	Dec. 12, 2019	Nov. 02, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation costs capitalized	$ 0	$ 0	$ 0	$ 0
Number of ordinary shares available for future grant (in shares)	2,069,550		2,069,550
Shares authorized for future issuance (in shares)							1,281,619
Shares withheld to settle employee minimum statutory obligation for applicable income and other employment taxes (in shares)			172,929	210,006
Tax withholdings related to net share settlement of restricted share units			$ 17,740,000	$ 20,439,000
Equity Incentive 2020 plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of ordinary shares available for future grant (in shares)							1,700,000
Shares reserved for future issuance (in shares)							1,300,000
2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of ordinary shares available for future grant (in shares)	1,958,203		1,958,203
2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of ordinary shares available for future grant (in shares)	0		0
2017 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of ordinary shares available for future grant (in shares)	111,347		111,347
Shares authorized for future issuance (in shares)								160,000
Restricted share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	374,038	460,928	374,038	460,928	459,626	641,875
Unrecognized share-based compensation expense	$ 15,100,000		$ 15,100,000
Unrecognized compensation expense, weighted-average period for recognition			2 years 7 months 6 days
Restricted share units | 2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	343,211		343,211
Restricted share units | 2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	30,827		30,827
Restricted share units | 2017 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	0		0
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%
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	204,016	285,882	204,016	285,882	285,882	427,028
Unrecognized share-based compensation expense	$ 9,400,000		$ 9,400,000
Unrecognized compensation expense, weighted-average period for recognition			1 year 2 months 12 days
Performance share units | 2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	204,016		204,016
Performance share units | 2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	0		0
Performance share units | 2017 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	0		0
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
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%
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%

Share-based compensation - Shar

Share-based compensation - Share-based award activity (Details) - shares	Mar. 31, 2023	Jun. 24, 2022	Mar. 25, 2022	Jun. 25, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of ordinary shares available for future grant (in shares)	2,069,550
2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of ordinary shares available for future grant (in shares)	1,958,203
2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of ordinary shares available for future grant (in shares)	0
2017 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of ordinary shares available for future grant (in shares)	111,347
Restricted share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	374,038	459,626	460,928	641,875
Restricted share units | 2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	343,211
Restricted share units | 2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	30,827
Restricted share units | 2017 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	0
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	204,016	285,882	285,882	427,028
Performance share units | 2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	204,016
Performance share units | 2010 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	0
Performance share units | 2017 Inducement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share units outstanding (in shares)	0

Share-based compensation - Sc_2

Share-based compensation - Schedule of Restricted Share Unit Activity (Details) - Restricted share units - $ / shares	9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022
Number of Shares
Number of share units, beginning balance (in shares)	459,626	641,875
Number of share units, granted (in shares)	154,113	165,684
Number of share units, vested (in shares)	(220,004)	(310,473)
Number of share units, forfeited (in shares)	(19,697)	(36,158)
Number of share units, ending balance (in shares)	374,038	460,928
Weighted- Average Grant Date Fair Value Per Share
Weighted-average grant date fair value per share, beginning balance (in USD per share)	$ 75.14	$ 55.74
Weighted-average grant date fair value per share, granted (in USD per share)	119.23	102.74
Weighted-average grant date fair value per share, vested (in USD per share)	67.23	51.12
Weighted-average grant date fair value per share, forfeited (in USD per share)	91.84	69.84
Weighted-average grant date fair value per share, ending balance (in USD per share)	$ 97.08	$ 73.96

Share-based compensation - Sc_3

Share-based compensation - Schedule of Performance Share Unit Activity (Details) - Performance share units - $ / shares	9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022
Number of Shares
Number of share units, beginning balance (in shares)	285,882	427,028
Number of share units, granted (in shares)	97,142	110,832
Number of share units, vested (in shares)	(179,008)	(190,213)
Number of share units, forfeited (in shares)	0	(61,765)
Number of share units, ending balance (in shares)	204,016	285,882
Weighted- Average Grant Date Fair Value Per Share
Weighted-average grant date fair value per share, beginning balance (in USD per share)	$ 81.64	$ 57.82
Weighted-average grant date fair value per share, granted (in USD per share)	117.35	101.05
Weighted-average grant date fair value per share, vested (in USD per share)	70.05	48.65
Weighted-average grant date fair value per share, forfeited (in USD per share)	0	53.38
Weighted-average grant date fair value per share, ending balance (in USD per share)	$ 108.81	$ 81.64

Shareholders' equity (Details)

Shareholders' equity (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022	Mar. 31, 2023	Mar. 25, 2022	Aug. 31, 2022	Jun. 24, 2022	Aug. 31, 2020	May 31, 2019	Feb. 28, 2018	Aug. 31, 2017
Shareholders Equity [Line Items]
Ordinary shares, authorized share capital (in shares)	500,000,000		500,000,000			500,000,000
Ordinary shares, par value (in USD per share)	$ 0.01		$ 0.01			$ 0.01
Preferred shares, shares authorized (in shares)	5,000,000		5,000,000			5,000,000
Preferred shares, par value (in USD per share)	$ 0.01		$ 0.01			$ 0.01
Share repurchase program, approved amount										$ 30,000,000
Share repurchase program, increase in shares authorized for repurchase					$ 78,700,000		$ 58,500,000	$ 50,000,000	$ 30,000,000
Treasury stock, carrying basis	$ 90,800,000		$ 90,800,000			$ 247,200,000
Treasury stock acquired (in shares)	35,232	237,339	83,857	275,608
Treasury stock acquired, average cost (in USD per share)			$ 109.89
Treasury stock, value, acquired	$ 4,113,000	$ 24,191,000	$ 9,217,000	$ 28,624,000
1999 and 2010 Stock Plan
Shareholders Equity [Line Items]
Ordinary shares issued upon vesting of restricted shares (in shares)	23,202	30,729	226,083	290,680

Accumulated other comprehensi_3

Accumulated other comprehensive income (loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2023	Mar. 25, 2022	Mar. 31, 2023	Mar. 25, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,384,131	$ 1,199,191	$ 1,253,682	$ 1,112,520
Other comprehensive income (loss) before reclassification adjustment			9,408	643
Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income			(2,896)	(1,265)
Tax effects			0	0
Total other comprehensive income (loss), net of tax	(3,567)	(1,699)	6,512	(622)
Ending balance	1,441,581	1,228,727	1,441,581	1,228,727
Unrealized net (Losses)/Gains on Available-for-sale Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(6,018)	308
Other comprehensive income (loss) before reclassification adjustment			1,675	(3,602)
Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income			93	(13)
Tax effects			0	0
Total other comprehensive income (loss), net of tax			1,768	(3,615)
Ending balance	(4,250)	(3,307)	(4,250)	(3,307)
Unrealized net (Losses)/Gains on Derivative Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(5,082)	(4,504)
Other comprehensive income (loss) before reclassification adjustment			7,762	4,443
Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income			(3,327)	(1,700)
Tax effects			0	0
Total other comprehensive income (loss), net of tax			4,435	2,743
Ending balance	(647)	(1,761)	(647)	(1,761)
Retirement benefit plan - Prior service cost
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(803)	(1,425)
Other comprehensive income (loss) before reclassification adjustment			0	0
Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income			338	448
Tax effects			0	0
Total other comprehensive income (loss), net of tax			338	448
Ending balance	(465)	(977)	(465)	(977)
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(890)	(645)
Other comprehensive income (loss) before reclassification adjustment			(29)	(198)
Amounts reclassified out of AOCI to the unaudited condensed consolidated statements of operations and comprehensive income			0	0
Tax effects			0	0
Total other comprehensive income (loss), net of tax			(29)	(198)
Ending balance	(919)	(843)	(919)	(843)
AOCI Attributable to parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(2,714)	(5,189)	(12,793)	(6,266)
Total other comprehensive income (loss), net of tax	(3,567)	(1,699)	6,512	(622)
Ending balance	$ (6,281)	$ (6,888)	$ (6,281)	$ (6,888)

Commitments and contingencies (

Commitments and contingencies (Details) ฿ in Millions, ¥ in Millions, $ in Millions	Mar. 31, 2023 USD ($)	Mar. 31, 2023 THB (฿)	Jun. 24, 2022 USD ($)	Jun. 24, 2022 THB (฿)	Jun. 24, 2022 CNY (¥)
Commitments and Contingencies Disclosure [Line Items]
Outstanding bank guarantees given by banks on behalf of the company	$ 1.6	฿ 53	$ 1.4	฿ 50.2
Financial Guarantee
Commitments and Contingencies Disclosure [Line Items]
Outstanding bank guarantees given by banks on behalf of the company | ¥					¥ 1
Inventories
Commitments and Contingencies Disclosure [Line Items]
Outstanding commitment to third parties	1,090
Bank guarantees
Commitments and Contingencies Disclosure [Line Items]
Amount of cash collateral			$ 0.1
Thailand
Commitments and Contingencies Disclosure [Line Items]
Outstanding commitment to third parties	$ 18.3

Business segments and geograp_3

Business segments and geographic information - Schedule of Long-lived Assets by Geographic Areas (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Jun. 24, 2022
Segment Reporting Information [Line Items]
Long-lived assets	$ 308,365	$ 292,277
Thailand
Segment Reporting Information [Line Items]
Long-lived assets	261,506	240,750
U.S.
Segment Reporting Information [Line Items]
Long-lived assets	25,669	25,938
China
Segment Reporting Information [Line Items]
Long-lived assets	17,651	19,686
Israel
Segment Reporting Information [Line Items]
Long-lived assets	3,023	4,025
Others
Segment Reporting Information [Line Items]
Long-lived assets	$ 516	$ 1,878

Business segments and geograp_4

Business segments and geographic information - Narrative (Details) - customer	9 Months Ended	12 Months Ended
	Mar. 31, 2023	Jun. 24, 2022
Segment Reporting [Abstract]
Number of customers that contributed to more than 10% of trade accounts receivable	3	3
Largest Customer 1 | Trade Accounts Receivable | Customer Concentration Risk
Segment Reporting Information [Line Items]
Revenues, percentage	10%	10%
Largest Customer 2 | Trade Accounts Receivable | Customer Concentration Risk
Segment Reporting Information [Line Items]
Revenues, percentage	10%	10%
Largest Customer 3 | Trade Accounts Receivable | Customer Concentration Risk
Segment Reporting Information [Line Items]
Revenues, percentage	10%	10%