Viavi Solutions (VIAV) 10-Q 9 Feb 21 2021 Q2 Quarterly report Financial data

Cover page

Cover page - shares	6 Months Ended
	Jan. 02, 2021	Jan. 30, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 2, 2021
Document Transition Report	false
Entity File Number	000-22874
Entity Registrant Name	Viavi Solutions Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-2579683
Entity Address, Address Line One	7047 E Greenway Pkwy Suite 250
Entity Address, City or Town	Scottsdale
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85254
City Area Code	408
Local Phone Number	404-3600
Title of 12(b) Security	Common Stock, par value of $0.001 per share
Trading Symbol	VIAV
Security Exchange Name	NASDAQ
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		228,729,977
Entity Central Index Key	0000912093
Amendment Flag	false
Current Fiscal Year End Date	--07-03
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Former Address
Document Information [Line Items]
Entity Address, Address Line One	6001 America Center Drive
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95002

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jan. 02, 2021	Dec. 28, 2019	Jan. 02, 2021	Dec. 28, 2019
Revenues:
Total net revenue	$ 299.9	$ 313.7	$ 584.6	$ 613.5
Cost of revenues:
Amortization of acquired technologies	8.4	8.4	16.6	16.8
Total cost of revenues	119.8	124.2	235.1	249.6
Gross profit	180.1	189.5	349.5	363.9
Operating expenses:
Research and development	50	50.3	98.8	101.8
Selling, general and administrative	79.5	86.3	160.9	179.5
Amortization of other intangibles	8.1	8.8	16.6	17.5
Restructuring and related charges (benefits)	0.2	(0.9)	(0.4)	(0.6)
Total operating expenses	137.8	144.5	275.9	298.2
Income from operations	42.3	45	73.6	65.7
Interest income and other income, net	1.1	1.3	1.7	4
Interest expense	(9)	(8.4)	(18)	(16.7)
Income before taxes	34.4	37.9	57.3	53
Provision for income taxes	12.5	9.9	21.1	18.2
Net income	$ 21.9	$ 28	$ 36.2	$ 34.8
Net income per share:
Basic (in dollars per share)	$ 0.10	$ 0.12	$ 0.16	$ 0.15
Diluted (in dollars per share)	$ 0.09	$ 0.12	$ 0.16	$ 0.15
Shares used in per-share calculations:
Basic (in shares)	228.8	230	228.8	229.7
Diluted (in shares)	231.1	238.3	231.3	237.4
Product revenue
Revenues:
Total net revenue	$ 262.1	$ 281.9	$ 510	$ 546.7
Cost of revenues:
Cost of revenue	96.1	103.7	189.7	208
Service revenue
Revenues:
Total net revenue	37.8	31.8	74.6	66.8
Cost of revenues:
Cost of revenue	$ 15.3	$ 12.1	$ 28.8	$ 24.8

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 02, 2021	Dec. 28, 2019	Jan. 02, 2021	Dec. 28, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 21.9	$ 28	$ 36.2	$ 34.8
Other comprehensive income:
Net change in cumulative translation adjustment, net of tax	34.4	28	62	0.6
Amortization of actuarial income	0.7	0.8	1.5	1.5
Net change in accumulated other comprehensive income	35.1	28.8	63.5	2.1
Comprehensive income	$ 57	$ 56.8	$ 99.7	$ 36.9

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jan. 02, 2021	Jun. 27, 2020
Current assets:
Cash and cash equivalents	$ 644.2	$ 539
Short-term investments	1.6	1.5
Restricted cash	3	3.5
Accounts receivable, net	251.3	235.5
Inventories, net	88.2	83.3
Prepayments and other current assets	58.1	50.8
Total current assets	1,046.4	913.6
Property, plant and equipment, net	181.7	172.5
Goodwill, net	395.4	381.4
Intangibles, net	120.8	148.1
Deferred income taxes	117	105.4
Other non-current assets	53.9	55.3
Total assets	1,915.2	1,776.3
Current liabilities:
Accounts payable	53.5	53
Accrued payroll and related expenses	69.7	51.4
Deferred revenue	61.9	54.6
Accrued expenses	22.1	22.6
Current portion of long-term debt	0	2.8
Other current liabilities	56.4	48.4
Total current liabilities	263.6	232.8
Long-term debt	612.4	600.9
Other non-current liabilities	238.2	231.2
Commitments and contingencies (Note 18)
Stockholders’ equity:
Common stock, $0.001 par value; 1 billion shares authorized; 229 million shares at January 2, 2021 and 228 million shares at June 27, 2020, issued and outstanding	0.2	0.2
Additional paid-in capital	70,288	70,274.3
Accumulated deficit	(69,384.8)	(69,397.2)
Accumulated other comprehensive loss	(102.4)	(165.9)
Total stockholders’ equity	801	711.4
Total liabilities and stockholders’ equity	$ 1,915.2	$ 1,776.3
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares outstanding (in shares)	229,000,000	228,000,000

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jan. 02, 2021	Jun. 27, 2020
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	229,000,000	228,000,000
Common stock, shares outstanding (in shares)	229,000,000	228,000,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions		6 Months Ended
		Jan. 02, 2021	Dec. 28, 2019
OPERATING ACTIVITIES:
Net income		$ 36.2	$ 34.8
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense		17.6	19.7
Amortization of acquired technologies and other intangibles		33.2	34.3
Stock-based compensation		22.4	21.6
Amortization of debt issuance costs and accretion of debt discount		11.8	11
Net change in fair value of contingent liabilities		(1.5)	(4.3)
Other		1.2	2.4
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable		(6.4)	(13.5)
Inventories		(3.3)	3.2
Other current and non-currents assets		3.9	(2.5)
Accounts payable		(2.4)	(14.2)
Income taxes payable		10.4	5.8
Deferred revenue, current and non-current		4.1	2.9
Deferred taxes, net		(2.1)	(2.8)
Accrued payroll and related expenses		16	8.2
Accrued expenses and other current and non-current liabilities		(8.5)	(37.3)
Net cash provided by operating activities		132.6	69.3
INVESTING ACTIVITIES:
Capital expenditures		(18.5)	(13.3)
Proceeds from the sale of assets		1.1	3.1
Acquisitions, net of cash acquired		(0.6)	(0.5)
Net cash used in investing activities		(18)	(10.7)
FINANCING ACTIVITIES:
Payment of debt issuance costs		(0.1)	0
Repurchase and retirement of common stock		(23.8)	(10.7)
Withholding tax payment on vesting of restricted stock awards		(11.8)	(15.1)
Payment of financing obligations		(0.6)	(1.8)
Proceeds from employee stock purchase plan		3.5	2.3
Payment of debt		(2.8)	0
Net cash used in financing activities		(35.6)	(25.3)
Effect of exchange rates on cash, cash equivalents and restricted cash		26.3	(3.5)
Net increase in cash, cash equivalents and restricted cash		105.3	29.8
Cash, cash equivalents and restricted cash at the beginning of the period	[1]	547.4	530.4
Cash, cash equivalents and restricted cash at the end of the period		$ 652.7	$ 560.2
[1]	These amounts include both current and non-current balances of restricted cash totaling $8.5 million and $8.4 million as of January 2, 2021 and December 28, 2019, respectively.

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Jan. 02, 2021	Jun. 27, 2020	Dec. 28, 2019	Jun. 29, 2019
Statement of Cash Flows [Abstract]
Restricted cash	$ 8.5	$ 8.4	$ 8.4	$ 8.9

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, AdjustmentAccumulated Deficit
Balance at the beginning of the period (in shares) at Jun. 29, 2019		228.8
Balance at the beginning of the period at Jun. 29, 2019	$ 725.8	$ 0.2	$ 70,244.7	$ (69,384.5)	$ (134.6)	$ 3	$ 3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	34.8			34.8
Other comprehensive income	2.1				2.1
Shares issued under employee stock plans, net of tax (in shares)		2.2
Shares issued under employee stock plans, net of tax	(12.6)		(12.6)
Stock-based compensation	21.9		21.9
Repurchase of common stock (in shares)		(0.8)
Repurchase of common stock	(10.7)			(10.7)
Balance at the end of the period (in shares) at Dec. 28, 2019		230.2
Balance at the end of the period at Dec. 28, 2019	$ 764.3	$ 0.2	70,254	(69,357.4)	(132.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member
Balance at the beginning of the period (in shares) at Sep. 28, 2019		230.4
Balance at the beginning of the period at Sep. 28, 2019	$ 708.1	$ 0.2	70,245.4	(69,376.2)	(161.3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	28			28
Other comprehensive income	28.8				28.8
Shares issued under employee stock plans, net of tax (in shares)		0.5
Shares issued under employee stock plans, net of tax	(2.9)		(2.9)
Stock-based compensation	11.5		11.5
Repurchase of common stock (in shares)		(0.7)
Repurchase of common stock	(9.2)			(9.2)
Balance at the end of the period (in shares) at Dec. 28, 2019		230.2
Balance at the end of the period at Dec. 28, 2019	764.3	$ 0.2	70,254	(69,357.4)	(132.5)
Balance at the beginning of the period (in shares) at Jun. 27, 2020		228.3
Balance at the beginning of the period at Jun. 27, 2020	711.4	$ 0.2	70,274.3	(69,397.2)	(165.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	36.2			36.2
Other comprehensive income	63.5				63.5
Shares issued under employee stock plans, net of tax (in shares)		2.1
Shares issued under employee stock plans, net of tax	(8.6)		(8.6)
Stock-based compensation	$ 22.3		22.3
Repurchase of common stock (in shares)	(1.9)	(1.9)
Repurchase of common stock	$ (23.8)			(23.8)
Balance at the end of the period (in shares) at Jan. 02, 2021		228.5
Balance at the end of the period at Jan. 02, 2021	801	$ 0.2	70,288	(69,384.8)	(102.4)
Balance at the beginning of the period (in shares) at Oct. 03, 2020		229.3
Balance at the beginning of the period at Oct. 03, 2020	753.8	$ 0.2	70,280.7	(69,389.6)	(137.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	21.9			21.9
Other comprehensive income	35.1				35.1
Shares issued under employee stock plans, net of tax (in shares)		0.5
Shares issued under employee stock plans, net of tax	(2.5)		(2.5)
Stock-based compensation	$ 9.8		9.8
Repurchase of common stock (in shares)	(1.3)	(1.3)
Repurchase of common stock	$ (17.1)			(17.1)
Balance at the end of the period (in shares) at Jan. 02, 2021		228.5
Balance at the end of the period at Jan. 02, 2021	$ 801	$ 0.2	$ 70,288	$ (69,384.8)	$ (102.4)

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jan. 02, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 1. Basis of Presentation The financial information for Viavi Solutions Inc. (VIAVI also referred to as the Company) for the three and six months ended January 2, 2021 and December 28, 2019 is unaudited, and includes all normal and recurring adjustments Company’s management considers necessary for a fair statement of the financial information set forth herein. The accompanying consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and 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 consolidated financial statements. For further information, please refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K, for the year ended June 27, 2020. There have been no material changes to the Company’s accounting policies during the three and six months ended January 2, 2021, as compared to the significant accounting policies presented in “Note 1. Basis of Presentation” of the Notes to the Consolidated Financial Statements included in the Company’s Annual Report for the year ended June 27, 2020 on Form 10-K, filed with the SEC on August 24, 2020. The Consolidated Balance Sheet as of June 27, 2020 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 six months ended January 2, 2021 and December 28, 2019 may not be indicative of results for the fiscal year ending July 3, 2021 or any future periods. Fiscal Years The Company utilizes a 52-53 week fiscal year ending on the Saturday closest to June 30th. The Company’s fiscal 2021 is a 53-week year ending on July 3, 2021. The Company’s fiscal 2020 was a 52-week year ending on June 27, 2020. The Company’s first quarter of fiscal year 2021 was a 14 week quarter compared to the standard 13 week quarters. Principles of Consolidation The consolidated financial statements include the Company and its wholly-owned subsidiaries. All inter-company accounts and transactions have been eliminated. Use of Estimates The preparation of the Company’s consolidated financial statements requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements, the reported amount of net revenues and expenses and the disclosure of commitments and contingencies during the reporting periods. The Company bases estimates on historical experience and assumptions about future periods that are believed to be reasonable based on available information. The Company’s reported financial positions or results of operations may be materially different under changed conditions or when using different estimates and assumptions, particularly with respect to significant accounting policies. If estimates or assumptions differ from actual results, subsequent periods are adjusted to reflect readily available current information. A novel strain of coronavirus (COVID-19) has been reported as first identified in Wuhan, China by the Chinese government in December 2019, and subsequently declared an international pandemic by the World Health Organization (WHO) in March 2020. The worldwide spread of the COVID-19 virus has resulted in a global slowdown of economic activity which is likely to continue to impact demand for a broad variety of goods and services, including from our customers, while also continuing to disrupt sales channels and marketing activities for an unknown period of time until the disease is contained. In late 2020, new and potentially more contagious variants of the virus emerged, along with a surge in cases in several regions across the globe, resulting in renewed shutdown and shelter in place orders. While rollout of several vaccines commenced in December 2020 in the UK and US, the pace of the rollout has been slow and the demand for vaccine far outpaces available supply. While, the Company expects this could have a negative impact to our sales and our results of operations, the Company is not aware of any specific event or circumstances that would require an update to the estimates or judgments or a revision of the carrying value of assets or liabilities as of the date of issuance of this Quarterly Report on Form 10-Q. These

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	6 Months Ended
	Jan. 02, 2021
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Note 2. Recently Issued Accounting Pronouncements Recent Accounting Pronouncements Adopted In June 2016, the FASB issued guidance that changes the accounting for recognizing impairments of financial assets. Under the new guidance, credit losses for certain types of financial assets will be estimated based on expected losses. In the first quarter of fiscal 2021 the Company adopted the accounting standard using the modified retrospective approach. The adoption of the new standard did not have a material impact on the Company’s consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted In August 2018, the FASB issued guidance to amend the disclosure requirements related to defined benefit pension and other post-retirement plans. Some of the changes include adding a disclosure requirement for significant gains and losses related to changes in the benefit obligation for the period and removing the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year. This guidance is effective for the Company in the first quarter of fiscal 2022 and early adoption is permitted. The Company is evaluating the impact of adopting this new accounting guidance on its consolidated financial statements. In December 2019, the FASB issued guidance which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes , and clarifies certain aspects of the current guidance to promote consistency among reporting entities. The guidance is effective for the Company in the first quarter of fiscal year 2022 and early adoption is permitted. The Company is evaluating the effects that the adoption of this guidance will have on its consolidated financial statements. In August 2020, the FASB issued guidance which simplifies the accounting for financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The guidance allows for either full retrospective adoption or modified retrospective adoption. The guidance is effective for the Company in the first quarter of fiscal year 2023 and early adoption is permitted. The Company is evaluating the effects that the impact of adoption of this guidance will have on its consolidated financial statements.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jan. 02, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Note 3. Earnings Per Share The following table sets forth the computation of basic and diluted net income per share ( in millions, except per share data ): Three Months Ended Six Months Ended January 2, 2021 December 28, 2019 January 2, 2021 December 28, 2019 Numerator: Net income $ 21.9 $ 28.0 $ 36.2 $ 34.8 Denominator: Weighted-average shares outstanding: Basic 228.8 230.0 228.8 229.7 Shares issuable assuming conversion of convertible notes (1) 0.3 5.1 — 4.0 Effect of dilutive securities from stock-based compensation plans 2.0 3.2 2.5 3.7 Diluted 231.1 238.3 231.3 237.4 Net income per share: Basic $ 0.10 $ 0.12 $ 0.16 $ 0.15 Diluted $ 0.09 $ 0.12 $ 0.16 $ 0.15 (1) Represents the number of shares that would be issued if the Company’s 1.00% Senior Convertible Notes (2024 Notes) and 1.75% Senior Convertible Notes (2023 Notes) had been converted. The par amount of the Company’s convertible notes is payable in cash equal to the principal amount of the notes plus any accrued and unpaid interest. The “in-the money” conversion benefit feature above the conversion price of the 2023 Notes and 2024 Notes of, $13.94 and $13.22 per share, respectively is payable in cash, shares of the Company’s common stock or a combination of both, at the Company’s election. Refer to “Note 11. Debt” for more details. The following table sets forth the weighted-average potentially dilutive securities excluded from the computation of the diluted net income per share because their effect would have been anti-dilutive ( in millions ): Three Months Ended Six Months Ended January 2, 2021 December 28, 2019 January 2, 2021 December 28, 2019 Restricted stock units — 0.3 0.5 0.2

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jan. 02, 2021
Equity [Abstract]
Accumulated Other Comprehensive Loss	Note 4. Accumulated Other Comprehensive Loss The Company’s accumulated other comprehensive loss consists of the accumulated net unrealized gains or losses on available-for-sale investments, foreign currency translation adjustments and change in unrealized components of defined benefit obligations. For the six months ended January 2, 2021, the changes in accumulated other comprehensive loss, net of tax, by component were as follows ( in millions ): Unrealized losses on available-for sale investments Foreign currency translation adjustments Change in unrealized components of defined benefit obligations (1) Total Beginning balance as of June 27, 2020 $ (5.1) $ (129.6) $ (31.2) $ (165.9) Other comprehensive income before reclassification — 62.0 — 62.0 Amounts reclassified to accumulated other comprehensive loss — — 1.5 1.5 Net current-period other comprehensive income — 62.0 1.5 63.5 Ending balance as of January 2, 2021 $ (5.1) $ (67.6) $ (29.7) $ (102.4) (1) The amount reclassified out of accumulated other comprehensive loss represents the amortization of actuarial losses included as a component of cost of revenues, research and development (R&D) and selling, general and administrative (SG&A) in the Consolidated Statement of Operations for the six months ended January 2, 2021. There was no tax impact for the six months ended January 2, 2021. Refer to “Note 17. Employee Pension and Other Benefit Plans” for more details on the computation of net periodic cost for pension plans.

Acquisitions

Acquisitions	6 Months Ended
	Jan. 02, 2021
Business Combinations [Abstract]
Acquisitions	Note 5. Acquisitions 3Z Telecom, Inc. Acquisition On May 31, 2019 (3Z Close Date), the Company acquired all of the equity of 3Z Telecom, Inc. (3Z) for approximately $23.2 million in cash and contingent consideration (earn-out) liability of up to $7.0 million in cash based on the achievement of certain net revenue targets over approximately a two RPC Photonics, Inc. Acquisition On October 30, 2018 (RPC Close Date), the Company acquired all of the equity interest of RPC Photonics, Inc. (RPC) for approximately $33.4 million in cash and an additional earn-out of up to $53.0 million in cash based on the achievement of certain gross profit targets over approximately a four Other Acquisition During the twelve months ended June 27, 2020, the Company completed a business acquisition for total consideration of approximately $5.2 million in cash paid at close and contingent consideration (earn-out) of up to $5.5 million in cash to be paid based on the occurrence or achievement of certain agreed upon targets. In connection with this acquisition, the Company recorded approximately $6.2 million of developed technology and customer relationships and $1.4 million of deferred tax liability resulting from the acquisitions. The acquired developed technology and customer relationship assets are being amortized over their estimated useful lives of six years.

Balance Sheet and Other Details

Balance Sheet and Other Details	6 Months Ended
	Jan. 02, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet and Other Details	Note 6. Balance Sheet and Other Details Contract Balances Unbilled Receivables: The Company records a receivable when an unconditional right to consideration exists and transfer of control has occurred, such that only the passage of time is required before payment of consideration is due. Timing of revenue recognition may differ from the timing of customer invoicing. Payment terms vary based on product or service offerings and payment is generally required within 30 to 90 days from date of invoicing. Certain performance obligations may require payment before delivery of the service to the customer . Contract Assets: A Contract Asset is recognized when a conditional right to consideration exists and transfer of control has occurred. Contract Assets include fixed fee professional services, where the transfer of services has occurred in advance of the Company's right to invoice. Contract Assets, included in accounts receivable, net, on the Consolidated Balance Sheets, are not material to the Consolidated Financial Statements. The prior year’s Consolidated Balance Sheets and Statements of Cash Flows have been updated to conform to the current period’s presentation. Contract asset balances will fluctuate based upon the timing of transfer of services, billings and customers’ acceptance of contractual milestones. Gross receivables include both billed and unbilled receivables (Unbilled Receivables and Contract Assets). As of January 2, 2021, and June 27, 2020, the Company had total unbilled receivables of $5.5 million and $3.8 million, respectively. Deferred Revenue: Deferred revenue consists of contract liabilities primarily related to support, solution deployment services, software maintenance, product, professional services, and training when the Company has a right to invoice or payments have been received and transfer of control has not occurred. Revenue is recognized on these items when the revenue recognition criteria are met, generally resulting in ratable recognition over the contract term. Contract liabilities are included in deferred revenue and non-current liabilities on the Consolidated Balance Sheets. The Company also has short-term and long-term deferred revenues related to undelivered hardware and professional services, consisting of installations and consulting engagements, which are recognized as the Company's performance obligations under the contract are completed and accepted by the customer. The following tables summarize the activity related to deferred revenue ( in millions ): January 2, 2021 Three months ended Six Months Ended Deferred revenue: Balance at beginning of period $ 80.1 $ 74.6 Revenue deferrals for new contracts (1) 31.8 61.4 Revenue recognized during the period (2) (29.9) (54.0) Balance at end of period (3) $ 82.0 $ 82.0 (1) Included in these amounts is the impact from foreign currency exchange rate fluctuations. (2) Revenue recognized during the period represents releases from the balance at the beginning of the period as well as releases from the following period quarter-end deferrals. (3) The long-term portion of deferred revenue is included as a component of Other non-current liabilities.. Remaining Performance Obligations: Remaining performance obligations represent the aggregate amount of the transaction price allocated to performance obligations that are not delivered or incomplete, as of January 2, 2021. Remaining performance obligations include deferred revenue plus unbilled amounts not yet recorded. The aggregate amount of the transaction price allocated to remaining performance obligations does not include amounts owed under cancellable contracts where there is no substantive termination penalty. Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations, changes in the scope of contracts, adjustments for revenue that have not materialized, and adjustments for currency. The value of the transaction price allocated to remaining performance obligations as of January 2, 2021, was $202.6 million. The Company expects to recognize approximately 88% of remaining performance obligations as revenue within the next 12 months, and the remainder thereafter. Disaggregation of revenue The Company's revenue is presented on a disaggregated basis on the Consolidated Statements of Operations and in “Note 19. Operating Segments and Geographic Information”. This information includes revenue from reportable segments and a break-out of products and services for which the timing of the revenue is generally at a point in time and over time, respectively. Accounts receivable allowance The following table presents the activities and balances for allowance for doubtful accounts ( in millions ): June 27, 2020 Charged to Costs and Expenses Deductions (1) January 2, 2021 Allowance for doubtful accounts $ 3.0 $ 0.6 $ (1.2) $ 2.4 (1) Represents the effect of currency translation adjustments and write-offs of uncollectible accounts, net of recoveries. Inventories, net The following table presents the components of inventories, net ( in millions ): January 2, 2021 June 27, 2020 Finished goods $ 37.2 $ 30.0 Work in process 13.6 22.5 Raw materials 37.4 30.8 Inventories, net $ 88.2 $ 83.3 Prepayments and other current assets The following table presents the components of prepayments and other current assets ( in millions ): January 2, 2021 June 27, 2020 Prepayments $ 12.5 $ 10.9 Asset held for sale 2.5 2.5 Advances to contract manufacturers 5.3 7.3 Refundable income taxes 14.1 10.8 Transaction tax receivables 8.6 10.6 Other current assets 15.1 8.7 Prepayments and other current assets $ 58.1 $ 50.8 Other current liabilities The following table presents the components of other current liabilities ( in millions ): January 2, 2021 June 27, 2020 Customer prepayments $ 0.2 $ 0.5 Restructuring accrual 3.6 6.5 Income tax payable 20.8 10.7 Warranty accrual 4.5 4.6 Transaction tax payable 4.3 3.2 Operating lease liabilities (Note 12) 12.1 11.7 Other 10.9 11.2 Other current liabilities $ 56.4 $ 48.4 Other non-current liabilities The following table presents components of other non-current liabilities ( in millions ): January 2, 2021 June 27, 2020 Pension and post-employment benefits $ 110.9 $ 102.7 Financing obligation 16.2 16.2 Deferred tax liability 24.3 23.9 Long-term deferred revenue 20.1 20.0 Fair value of contingent consideration (Note 8) 6.9 9.4 Operating lease liabilities (Note 12) 25.7 28.1 Uncertain tax position 12.7 11.6 Other 21.4 19.3 Other non-current liabilities $ 238.2 $ 231.2

Investments and Forward Contrac

Investments and Forward Contracts	6 Months Ended
	Jan. 02, 2021
Investments, Debt and Equity Securities [Abstract]
Investment and Forward Contracts	Note 7. Investments and Forward Contracts Available-For-Sale Investments The following table presents the Company’s available-for-sale securities as of January 2, 2021 ( in millions ): Amortized Cost/ Carrying Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Available-for-sale debt securities: Asset-backed securities $ 0.9 $ — $ (0.4) $ 0.5 Total available-for-sale debt securities $ 0.9 $ — $ (0.4) $ 0.5 The Company generally classifies debt securities as available-for-sale and as cash equivalents, short-term investments, or other non-current assets based on the stated maturities; however, certain securities with stated maturities of longer than twelve months which are highly liquid and available to support current operations are also classified as short-term investments. As of January 2, 2021, the total estimated fair value of $0.5 million was classified as other non-current assets. In addition to the amounts presented above, the Company’s short-term investments classified as trading securities related to the deferred compensation plan as of January 2, 2021, were $1.6 million, of which $0.4 million was invested in debt securities, $0.2 million was invested in money market instruments and funds and $1.0 million was invested in equity securities. Trading securities are reported at fair value, with the unrealized gains or losses resulting from changes in fair value recognized in the Company’s Consolidated Statements of Operations as a component of interest and other income, net. During the three and six months ended January 2, 2021 and December 28, 2019, the Company recorded no other-than-temporary impairment charges in each respective period. The following table presents contractual maturities of the Company’s debt securities classified as available-for-sale as of January 2, 2021, ( in millions ): Amortized Cost/ Carrying Cost Estimated Fair Value Amounts maturing in more than 5 years $ 0.9 $ 0.5 Total debt available-for-sale securities $ 0.9 $ 0.5 The following table presents the Company’s available-for-sale securities as of June 27, 2020, (in millions): Amortized Cost/ Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: Asset-backed securities $ 0.9 $ — $ (0.4) $ 0.5 Total available-for-sale securities $ 0.9 $ — $ (0.4) $ 0.5 As of June 27, 2020, the estimated fair value of $0.5 million was classified as other non-current assets. In addition to the amounts presented above, as of June 27, 2020, the Company’s short-term investments classified as trading securities, related to the deferred compensation plan, were $1.4 million, of which $0.3 million was invested in debt securities, $0.2 million was invested in money market instruments and funds and $0.9 million was invested in equity securities. Trading securities are reported at fair value, with the unrealized gains or losses resulting from changes in fair value recognized in the Company’s Consolidated Statements of Operations as a component of interest and other income, net. Non-Designated Foreign Currency Forward Contracts The Company has foreign subsidiaries that operate and sell the Company’s products in various markets around the world. As a result, the Company is exposed to foreign exchange risks. The Company utilizes foreign exchange forward contracts to manage foreign currency risk associated with foreign currency denominated monetary assets and liabilities, primarily certain short-term intercompany receivables and payables, and to reduce the volatility of earnings and cash flows related to foreign-currency transactions. The Company does not use these foreign currency forward contracts for trading purposes. As of January 2, 2021, the Company had forward contracts that were effectively closed but not settled with the counterparties by quarter end. Therefore, the fair value of these contracts of $8.4 million and $1.5 million is reflected as prepayments and other current assets and other current liabilities, respectively. As of June 27, 2020, the fair value of these contracts of $2.2 million and $1.5 million is reflected as prepayments and other current assets and other current liabilities, respectively. The forward contracts outstanding and not effectively closed, with a term of less than 120 days, were transacted near quarter end; therefore, the fair value of the contracts is not significant. As of January 2, 2021 and June 27, 2020, the notional amounts of the forward contracts the Company held to purchase foreign currencies were $142.4 million and $146.4 million, respectively, and the notional amounts of forward contracts the Company held to sell foreign currencies were $19.0 million and $22.0 million, respectively. The change in the fair value of foreign currency forward contracts is recorded as gain or loss in the Company’s Consolidated Statements of Operations as a component of interest and other income, net. The cash flows related to the settlement of foreign currency forward contracts are classified as operating activities. The foreign exchange forward contracts incurred gains of $6.9 million and $13.3 million for the three and six months ended January 2,

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jan. 02, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 8. Fair Value Measurements Fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. There is an established hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring the most observable inputs be used when available. Observable inputs are, inputs which market participants would use in valuing an asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs which reflect the assumptions market participants would use in valuing an asset or liability. The three levels of inputs that may be used to measure fair value are as follows: • Level 1: includes financial instruments for which quoted market prices for identical instruments are available in active markets. Level 1 assets of the Company include money market funds, U.S. Treasury securities and marketable equity securities as they are traded with sufficient volume and frequency of transactions. • Level 2: includes financial instruments for which the valuations are based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities. Level 2 instruments of the Company generally include certain U.S. and foreign government and agency securities, commercial paper, corporate and municipal bonds and notes, asset-backed securities, certificates of deposit, and foreign currency forward contracts. To estimate their fair value, the Company utilizes pricing models based on market data. The significant inputs for the valuation model usually include benchmark yields, reported trades, broker and dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data, and industry and economic events. • Level 3: includes financial instruments for which fair value is derived from valuation-based inputs, that are unobservable and significant to the overall fair value measurement. As of January 2, 2021 and June 27, 2020, the Company did not hold any Level 3 investment securities. The fair value of the Company’s contingent liabilities was determined using Level 3 inputs . The Company’s Level 3 liabilities as of January 2, 2021, consist of contingent purchase consideration related to its business and asset acquisitions completed during fiscal 2020 and 2019. The fair value of earn-out liabilities was determined using a Monte Carlo Simulation that includes significant unobservable inputs such as the risk-adjusted discount rate, gross profit volatility, and projected financial forecast of acquired business over the earn-out period. The fair value of contingent consideration liabilities is remeasured at each reporting period at the estimated fair value based on the inputs on the date of remeasurement, with the change in fair value recognized in the Selling, General and Administrative expense of the Consolidated Statements of Operations. Fair Value Measurements The Company’s assets and liabilities measured at fair value (categorized by input measure) for the periods presented are as follows ( in millions ): January 2, 2021 June 27, 2020 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Debt available-for-sale securities: Asset-backed securities $ 0.5 $ — $ 0.5 $ — $ 0.5 $ — $ 0.5 $ — Total debt available-for-sale securities 0.5 — 0.5 — 0.5 — 0.5 — Money market funds 387.2 387.2 — — 334.6 334.6 — — Trading securities 1.6 1.6 — — 1.4 1.4 — — Foreign currency forward contracts (1) 8.4 — 8.4 — 2.2 — 2.2 — Total assets (2) $ 397.7 $ 388.8 $ 8.9 $ — $ 338.7 $ 336.0 $ 2.7 $ — Liability: Foreign currency forward contracts (3) $ 1.5 $ — $ 1.5 $ — $ 1.5 $ — $ 1.5 $ — Contingent consideration (4) 8.9 — — 8.9 9.9 — — 9.9 Total liabilities $ 10.4 $ — $ 1.5 $ 8.9 $ 11.4 $ — $ 1.5 $ 9.9 (1) $8.4 million and $2.2 million in prepayments and other current assets on the Company’s Consolidated Balance Sheets as of January 2, 2021 and June 27, 2020, respectively. (2) Includes as of January 2, 2021, $379.6 million in cash and cash equivalents, $1.6 million in short-term investments, $3.0 million in restricted cash, $8.4 million in prepayments and other current assets and $5.1 million in other non-current assets on the Company’s Consolidated Balance Sheets. Includes as of June 27, 2020, $327.2 million in cash and cash equivalents, $1.4 million in short-term investments, $3.4 million in restricted cash, $2.2 million in prepayments and other current assets, and $4.5 million in other non-current assets on the Company’s Consolidated Balance Sheets. (3) Includes $1.5 million and $1.5 million in other current liabilities on the Company’s Consolidated Balance Sheets as of January 2, 2021 and June 27, 2020, respectively. (4) Includes $6.9 million and $9.4 million in other non-current liabilities and $2.0 million and $0.5 million in other current liabilities as of January 2, 2021 and June 27, 2020, respectively. The following table provides a reconciliation of changes in the fair value of the Company’s Level 3, contingent consideration liabilities, for the three and six months ended January 2, 2021 ( in millions ): Three Months Ended Six Months Ended January 2, 2021 December 28, 2019 January 2, 2021 December 28, 2019 Beginning period balance $ 9.9 $ 40.1 $ 9.9 $ 38.4 Fair value adjustment of contingent consideration liabilities (1.5) (6.0) (1.5) (4.3) Currency translation adjustment 0.5 — 0.5 — Balance as of October 3, 2020 $ 8.9 $ 34.1 $ 8.9 $ 34.1 No payments were made in connection with the Company’s contingent earn-out liabilities during the three and six months ended January 2, 2021 and December 28, 2019.

Goodwill

Goodwill	6 Months Ended
	Jan. 02, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Note 9. Goodwill The following table presents changes in goodwill allocated to the Company’s reportable segments (in millions) : Network Enablement Service Enablement Optical Security and Performance Products Total Balance as of June 27, 2020 $ 334.9 $ 4.3 $ 42.2 $ 381.4 Currency translation adjustments 13.6 0.4 — 14.0 Balance as of January 2, 2021 $ 348.5 $ 4.7 $ 42.2 $ 395.4 The Company tests goodwill for impairment at the reporting unit level annually during the fourth quarter of each fiscal year, or more frequently if events or circumstances indicate that the asset may be impaired. In the fourth quarter of fiscal 2020, the Company reviewed goodwill under the qualitative assessment of the authoritative guidance and concluded that it was more likely than not that the fair value of each reporting unit exceeded its carrying amount and that no indication of impairment existed. There were no events or changes in circumstances which triggered an impairment review during the three and six months ended January 2, 2021.

Acquired Developed Technology a

Acquired Developed Technology and Other Intangibles	6 Months Ended
	Jan. 02, 2021
Acquired Developed Technology and Other Intangibles
Acquired Developed Technology and Other Intangibles	Note 10. Acquired Developed Technology and Other Intangibles The following tables present details of the Company’s acquired developed technology, customer relationships and other intangibles ( in millions ): As of January 2, 2021 Gross Carrying Amount Accumulated Amortization Net Acquired developed technology $ 447.8 $ (364.9) $ 82.9 Customer relationships 200.4 (172.1) 28.3 Other (1) 37.6 (28.0) 9.6 Total intangibles $ 685.8 $ (565.0) $ 120.8 As of June 27, 2020 Gross Carrying Amount Accumulated Amortization Net Acquired developed technology $ 437.1 $ (341.6) $ 95.5 Customer relationships 194.7 (154.1) 40.6 Other (1) 35.7 (23.7) 12.0 Total intangibles $ 667.5 $ (519.4) $ 148.1 (1) Other intangibles consist of customer backlog, non-competition agreements, patents, proprietary know-how and trade secrets, trademarks and trade names and other assets. The following table presents the amortization recorded relating to acquired developed technology, customer relationships and other intangibles ( in millions ): Three Months Ended Six Months Ended January 2, 2021 December 28, 2019 January 2, 2021 December 28, 2019 Cost of revenues $ 8.4 $ 8.4 $ 16.6 $ 16.8 Operating expenses 8.1 8.8 16.6 17.5 Total amortization of intangible assets $ 16.5 $ 17.2 $ 33.2 $ 34.3 Based on the carrying amount of acquired developed technology, customer relationships and other intangibles as of January 2, 2021, and assuming no future impairment of the underlying assets, the estimated future amortization is as follows ( in millions ): Fiscal Years Remainder of 2021 $ 32.9 2022 39.5 2023 25.4 2024 10.3 2025 5.7 Thereafter 7.0 Total amortization $ 120.8 The acquired developed technology, customer relationships and other intangibles balance are adjusted quarterly to record the effect of currency translation adjustments.

Debt

Debt	6 Months Ended
	Jan. 02, 2021
Debt Disclosure [Abstract]
Debt	Note 11. Debt As of January 2, 2021 and June 27, 2020, the Company’s long-term debt on the Consolidated Balance Sheets represented the carrying amount of the liability component of the Senior Convertible Notes, net of unamortized debt discounts and issuance costs. The following table presents the carrying amounts of the liability and equity components of our debt ( in millions ): January 2, 2021 June 27, 2020 Principal amount of 1.00% Senior Convertible Notes $ 460.0 $ 460.0 Principal amount of 1.75% Senior Convertible Notes 225.0 225.0 Unamortized discount of liability component (68.2) (79.1) Unamortized debt issuance cost (4.4) (5.0) Carrying amount of liability component $ 612.4 $ 600.9 Carrying amount of equity component (1) $ 136.8 $ 136.8 (1) Included in additional paid-in-capital on the Consolidated Balance Sheets. The Company was in compliance with all debt covenants as of January 2, 2021 and June 27, 2020. Revolving Credit Facility On May 5, 2020, we entered into a credit agreement (the Credit Agreement) with Wells Fargo Bank, National Association (Wells Fargo) as administrative agent, and other lender related parties. The Credit Agreement provides for a $300 million senior secured revolving credit facility, which matures on March 1, 2023. The Credit Agreement also provides that, under certain circumstances, we may incur term loans or increase the aggregate principal amount of revolving commitments by an aggregate amount of up to $200 million plus additional amounts so long as our secured net leverage ratio, determined on a pro forma basis does not exceed 1.50:1.00. The proceeds from the credit facility established under the Credit Agreement will be used for working capital and other general corporate purposes. The obligations under the Credit Agreement are secured by substantially all of our assets. Amounts outstanding under the Credit Agreement accrue interest at a rate equal to either, at our election, LIBOR plus a margin of 1.75% to 2.50% per annum, or a specified base rate plus a margin of 0.75% to 1.50%, in each case, depending on our consolidated secured leverage ratio. We are required to pay a commitment fee on the unutilized portion of the facility which ranges between 0.30% and 0.40% per annum depending on our consolidated secured leverage ratio. As of January 2, 2021 and June 27, 2020, we had no amounts outstanding under the Credit Agreement. 1.75% Senior Convertible Notes (2023 Notes) On May 29, 2018, the Company issued $225.0 million aggregate principal amount of 1.75% Senior Convertible Notes due 2023 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The Company issued $155.5 million aggregate principal of the 2023 Notes to certain holders of the 2033 Notes in exchange for $151.5 million principal of the 2033 Notes (the “Exchange Transaction”) and issued and sold $69.5 million aggregate principal amount of the 2023 Notes in a private placement to accredited institutional buyers (the Private Placement). The carrying value of the liability component at issuance was calculated as the present value of its cash flows using a discount rate of 5.3% based on the 5-year swap rate plus credit spread as of the issuance date. As of January 2, 2021, the expected remaining term of the 2023 Notes is 2.4 years. The proceeds from the 2023 Notes Private Placement amounted to $67.3 million after issuance costs. The 2023 Notes are an unsecured obligation of the Company and bear interest at an annual rate of 1.75% payable in cash semi-annually in arrears on June 1st and December 1st of each year, beginning December 1, 2018. The 2023 Notes mature on June 1, 2023 unless earlier converted, redeemed or repurchased. Based on quoted market prices as of January 2, 2021 and June 27, 2020, the fair value of the 2023 Notes was approximately $280.0 million and $251.4 million, respectively. The 2023 Notes are classified within Level 2 as they are not actively traded in markets. 1.00% Senior Convertible Notes (2024 Notes) On March 3, 2017, the Company issued $400.0 million aggregate principal amount of 1.00% Senior Convertible Notes due 2024 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. On March 22, 2017, the Company issued an additional $60.0 million upon exercise of the over-allotment option of the initial purchasers. The total proceeds from the 2024 Notes amounted to $451.1 million after issuance costs. The 2024 Notes are an unsecured obligation of the Company and bear interest at an annual rate of 1.00% payable in cash semi-annually in arrears on March 1 and September 1 of each year. The 2024 Notes mature on March 1, 2024 unless earlier converted or repurchased. The carrying value of the liability component at issuance was calculated as the present value of its cash flows using a discount rate of 4.8% based on the 7-year swap rate plus credit spread as of the issuance date. As of January 2, 2021, the expected remaining term of the 2024 Notes is 3.2 years. Based on quoted market prices as of January 2, 2021 and June 27, 2020, the fair value of the 2024 Notes was approximately $595.6 million and $523.3 million, respectively. The 2024 Notes are classified within Level 2 as they are not actively traded in markets. Interest Expense The following table presents the interest expense for contractual interest, amortization of debt issuance costs and accretion of debt discount ( in millions ): Three Months Ended Six Months Ended January 2, 2021 December 28, 2019 January 2, 2021 December 28, 2019 Interest expense-contractual interest $ 2.4 $ 2.2 $ 4.7 $ 4.3 Amortization of debt issuance cost 0.5 0.4 1.0 0.7 Accretion of debt discount 5.5 5.2 10.8 10.3

Leases

Leases	6 Months Ended
	Jan. 02, 2021
Leases [Abstract]
Leases	Note 12. Leases The Company is a lessee in several operating leases, primarily real estate facilities for office space. The Company determines if an arrangement is a lease or contains a lease at inception. Operating lease liabilities are recognized based on the present value of the remaining lease payments, discounted using the discount rate for the lease at the commencement date. As the rate implicit in the lease is not readily determinable for our operating leases, the Company uses an incremental borrowing rate based on information available at the commencement date to determine the present value of future lease payments. The lease term is the non-cancelable period of the lease and includes options to extend or terminate the lease when it is reasonably certain that an option will be exercised. Operating right-of-use (ROU) assets are recognized at commencement based on the amount of the initial measurement of the lease liability. Operating ROU assets also include any lease payments made prior to lease commencement and exclude lease incentives. Lease expense is recognized on a straight-line basis over the lease term. Operating ROU assets are included in other non-current assets and lease liabilities are included in other current liabilities and other non-current liabilities in the Company’s Consolidated Balance Sheets. Lease and non-lease components for all leases are accounted for separately. The Company does not recognize ROU assets and lease liabilities for leases with a lease term of twelve months or less. The Company's lease arrangements are composed of operating leases with various expiration dates through March 31, 2030. The Company's leases do not contain any material residual value guarantees. For the three months ended January 2, 2021 and December 28, 2019, the total operating lease costs were $3.4 million and $3.3 million, respectively. For the six months ended January 2, 2021 and December 28, 2019, the total operating lease costs were $6.8 million and $6.6 million, respectively. Total variable lease costs were immaterial during the three and six months ended January 2, 2021 and December 28, 2019, respectively. The total operating costs were included in cost of revenues, research and development, and selling, general and administrative in the Company’s Consolidated Statements of Operations. As of January 2, 2021, the weighted-average remaining lease term was 5.0 years, and the weighted-average discount rate was 4.7%. For the three months ended January 2, 2021 and December 28, 2019, cash paid for amounts included in the measurement of operating lease liabilities were $3.7 million and $5.8 million, respectively; and operating ROU assets obtained in exchange of new operating lease liabilities were $1.9 million and $12.6 million, respectively. For the six months ended January 2, 2021 and December 28, 2019, cash paid for amounts included in the measurement of operating lease liabilities were $8.1 million and $9.2 million, respectively; and operating ROU assets obtained in exchange of new operating lease liabilities were $3.5 million and $14.5 million, respectively. The balance sheet information related to our operating leases is as follows ( in millions ): January 2, 2021 Other non-current assets $ 39.9 Total operating ROU assets $ 39.9 Other current liabilities $ 12.1 Other non-current liabilities 25.7 Total operating lease liabilities $ 37.8 Future minimum operating lease payments as of January 2, 2021 are as follows ( in millions ): Fiscal Years Operating Leases Remainder of 2021 $ 6.0 2022 11.8 2023 7.2 2024 5.2 2025 4.0 Thereafter 7.9 Total lease payments $ 42.1 Less: Interest (4.3) Present value of lease liabilities $ 37.8 Future minimum operating lease payments as of June 27, 2020, were as follows ( in millions ): Fiscal Years Operating Leases 2021 $ 12.8 2022 10.2 2023 6.0 2024 4.6 2025 3.6 Thereafter 7.5 Total lease payments $ 44.7 Less: Interest (4.9) Present value of lease liabilities $ 39.8

Restructuring and Related Charg

Restructuring and Related Charges	6 Months Ended
	Jan. 02, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Related Charges	Note 13. Restructuring and Related Charges The Company has initiated restructuring events primarily intended to reduce its costs, consolidate its operations, integrate various acquisitions, streamline product manufacturing and align its business to address market conditions. The Company’s restructuring charges primarily include severance and benefit costs to eliminate a specific number of positions, facilities and equipment costs to vacate facilities, consolidate operations, and lease termination costs. The timing of associated cash payments is dependent upon the type of restructuring charge and can extend over multiple periods. As of January 2, 2021 and June 27, 2020, the Company’s total restructuring accrual was $3.6 million and $6.5 million, respectively. During the three and six months ended January 2, 2021, the Company recorded restructuring and related charges (benefits) of $0.2 million and $(0.4) million, respectively. During the three and six months ended December 28, 2019, the Company recorded restructuring and related benefits of $(0.9) million and $(0.6) million, respectively. Summary of Restructuring Plans The following table presents the adjustments to the accrued restructuring expenses related to all of the Company’s restructuring plans described below for the three and six months ended January 2, 2021 (in millions) : Balance June 27, 2020 Six Months Ended January 2, 2021 Benefits Cash Settlements Non-cash Settlements and Other Adjustments (2) Balance January 2, 2021 Fiscal 2019 Plan NSE, including AW (1) $ 6.5 $ (0.4) $ (2.5) $ — $ 3.6 Total (3) $ 6.5 $ (0.4) $ (2.5) $ — $ 3.6 (1) Plan type includes workforce reduction cost. (2) Other adjustments represents the effect of currency translation adjustments. (3) $3.6 million and $6.5 million in other current liabilities on the Consolidated Balance Sheets as of January 2, 2021 and June 27, 2020, respectively. Fiscal 2019 Plans NSE, including AvComm and Wireless (AW) Restructuring Plan During the first quarter of fiscal 2019, the Company’s management approved restructuring and workforce reduction plans within its Network Service and Enablement (NSE) business, including actions related to the acquired AW business. The plan was re-approved in the third quarter of fiscal 2019 and the fourth quarter of fiscal 2020 to include additional headcount and to further drive operational improvement. During the three and six months ended January 2, 2021, restructuring charges (benefits) of $0.2 million and $(0.4) million, respectively were recorded, as adjustments to severance and employee benefits.

Income Taxes

Income Taxes	6 Months Ended
	Jan. 02, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 14. Income Taxes The Company recorded an income tax expense of $12.5 million and $21.1 million for the three and six months ended January 2, 2021, respectively. The Company recorded an income tax expense of $9.9 million and $18.2 million for the three and six months ended December 28, 2019, respectively. The income tax provision for the three and six months ended January 2, 2021 and December 28, 2019 primarily relates to income tax in certain foreign and state jurisdictions based on the Company’s forecasted pre-tax income or loss for the respective fiscal year. The income tax provision recorded differs from the expected tax provision that would be calculated by applying the federal statutory rate to the Company’s income from continuing operations before taxes primarily due to the changes in valuation allowance for deferred tax assets attributable to the Company’s domestic and foreign income from continuing operations. As of January 2, 2021, and June 27, 2020, the Company’s unrecognized tax benefits totaled $48.4 million and $48.4 million, respectively, and are included in deferred taxes and other non-current tax liabilities, net. The Company had $3.9 million accrued for the payment of interest and penalties as of January 2, 2021. The timing and resolution of income tax examinations is uncertain, and the amounts ultimately paid, if any, upon resolution of issues raised by the taxing authorities may differ from the amounts accrued for each year. Although the Company does not expect that our balance of gross unrecognized tax benefits will change materially in the next 12 months, given the uncertainty in the development of ongoing income tax examinations, the Company is unable to estimate the full range of possible adjustments to this balance.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jan. 02, 2021
Equity [Abstract]
Stockholders' Equity	Note 15. Stockholders' Equity Repurchase of Common Stock In September 2019, the Board of Directors authorized a stock repurchase program of up to $200 million of the Company’s common stock through open market or private transactions before September 30, 2021. The new stock repurchase program replaces the previous $200 million stock repurchase program that was set to expire on September 30, 2019. Under the new repurchase program, the Company may repurchase its common stock from time to time at the discretion of the Company’s management. During the three and six months ended January 2, 2021, the Company repurchased 1.3 million and 1.9 million shares of its common stock for $17.1 million and $23.8 million, respectively. As of January 2, 2021, the Company had remaining authorization of $131.8 million for future share repurchases. The number of shares to be repurchased and the timing of such repurchases will be based on several factors, including business and financial market conditions.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jan. 02, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 16. Stock-Based Compensation Overview The impact on the Company’s results of operations of recording stock-based compensation by function for the three and six months ended January 2, 2021 and December 28, 2019, as follows ( in millions ): Three Months Ended Six Months Ended January 2, 2021 December 28, 2019 January 2, 2021 December 28, 2019 Cost of revenues $ 1.2 $ 1.0 $ 2.4 $ 2.0 Research and development 2.3 2.0 4.5 3.7 Selling, general and administrative 6.4 8.3 15.5 15.9 Total stock-based compensation expense $ 9.9 $ 11.3 $ 22.4 $ 21.6 Approximately $1.1 million and $1.2 million of stock-based compensation expense was capitalized to inventory as of January 2, 2021 and December 28, 2019, respectively. Full Value Awards Full Value Awards refer to restricted stock units that are granted without an exercise price and are converted to shares immediately upon vesting. Performance-based awards are performance-based with market conditions, performance conditions, time-based or a combination, and are expected to vest over one During the six months ended January 2, 2021 and December 28, 2019, the Company granted 2.7 million and 3.1 million time-based Full Value Awards, respectively. The fair value of these are based on the closing market price of the Company’s common stock on the date of award. These time-based awards granted to eligible employees generally vest in annual or quarterly installments over a period of three years, are subject to the employees’ continuing service to the Company and do not have an expiration date. During the six months ended January 2, 2021 and December 28, 2019, the Company granted 0.6 million and 0.5 million, performance-based awards, respectively. These performance-based shares represent the target amount of grants, and the actual number of shares awarded upon vesting may vary depending upon the achievement of the relevant performance conditions. The shares attained over target upon vesting are reflected as awards granted during the period. Accordingly, during the six months ended January 2, 2021 and December 28, 2019, the Company granted an additional 0.1 million and 0.2 million shares, respectively, due to performance-based shares attained over target. The aggregate grant-date fair value of performance-based awards granted during the six months ended January 2, 2021 and December 28, 2019 were estimated to be $8.9 million and $7.7 million, respectively. The majority of performance-based awards vest in equal annual installments over three years based on the attainment of certain performance measures and the employee’s continued service through the vest date. The performance-based awards with market conditions were valued using a Monte Carlo simulation. As of January 2, 2021, $63.9 million of unrecognized stock-based compensation cost related to Full Value Awards remains to be amortized.

Employee Pension and Other Bene

Employee Pension and Other Benefit Plans	6 Months Ended
	Jan. 02, 2021
Retirement Benefits [Abstract]
Employee Pension and Other Benefit Plans	Note 17. Employee Pension and Other Benefit Plans The Company sponsors significant qualified and non-qualified pension plans for certain past and present employees in the United Kingdom (U.K.) and Germany. The Company also is responsible for the non-pension post-retirement benefit obligation assumed from a past acquisition. Most of the plans have been closed to new participants and no additional service costs are being accrued, except for certain plans in Germany assumed in connection with an acquisition in fiscal 2010. Benefits are generally based upon years of service and compensation or stated amounts for each year of service. As of January 2, 2021, the U.K. plan was partially funded while the other plans were unfunded. The Company’s policy for funded plans is to make contributions equal to or greater than the requirements prescribed by law or regulation. For unfunded plans, the Company pays the post-retirement benefits when due. During the six months ended January 2, 2021, the Company contributed $1.3 million to the U.K. plan and $1.8 million to the other plans. The funded plan assets consist primarily of managed investments. The following table presents the components of net periodic cost for the pension and benefits plans ( in millions ): Three Months Ended Six Months Ended January 2, 2021 December 28, 2019 January 2, 2021 December 28, 2019 Service cost $ 0.1 $ 0.1 $ 0.2 $ 0.2 Interest cost 0.3 0.5 0.6 0.9 Expected return on plan assets (0.4) (0.4) (0.8) (0.8) Amortization of net actuarial losses 0.7 0.8 1.5 1.5 Net periodic benefit cost $ 0.7 $ 1.0 $ 1.5 $ 1.8 Both the calculation of the projected benefit obligation and net periodic cost are based upon actuarial valuations. These valuations use participant-specific information such as salary, age, years of service, and assumptions about interest rates, compensation increases and other factors. At a minimum, the Company evaluates these assumptions annually and makes changes as necessary. The Company expects to incur cash outlays of approximately $10.5 million related to its defined benefit pension plans during fiscal 2021 to make current benefit payments and fund future obligations. As of January 2, 2021, approximately $3.1 million had been incurred. These payments have been estimated based on the same assumptions used to measure the Company’s projected benefit obligation at June 27, 2020.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jan. 02, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 18. Commitments and Contingencies Legal Proceedings In June 2016, the Company received a court decision regarding the validity of an amendment to a pension deed of trust related to one of its foreign subsidiaries which the Company contends contained an error requiring the Company to increase the pension plan’s benefit. The Company had subsequently further amended the deed to rectify the error. The court ruled that the amendment increasing the pension plan benefit was valid until the subsequent amendment. The Company estimated the liability to range from (amounts represented as £ denote GBP) £5.7 million to £8.4 million. The Company determined the likelihood of loss to be probable and accrued £5.7 million as of July 2, 2016 in accordance with authoritative guidance on contingencies. The accrual is included in pension and post-employment benefits, which is a component of other non-current liabilities in the Company’s Consolidated Balance Sheets. The Company pursued an appeal of the court decision. In March 2018, the appellate court affirmed the decision of the lower court. The Company is pursuing a deed of rectification claim and continues to pursue a claim against the U.K. law firm responsible for the error. As of January 2, 2021, the related accrued pension liability was £6.5 million or $8.8 million. The Company is subject to a variety of claims and suits that arise from time to time in the ordinary course of our business. While management currently believes that resolving claims against the Company, individually or in aggregate, will not have a material adverse impact on its financial position, results of operations or statement of cash flows, these matters are subject to inherent uncertainties and management’s view of these matters may change in the future. Were an unfavorable final outcome to occur, there exists the possibility of a material adverse impact on the Company’s financial position, results of operations or cash flows for the period in which the effect becomes reasonably estimable. Guarantees The Company follows authoritative guidance which requires that upon issuance of a guarantee, the guarantor must recognize a liability for the fair value of the obligation it assumes under that guarantee. In addition, disclosures about the guarantees that an entity has issued, including a tabular reconciliation of the changes of the entity’s product warranty liabilities, are required. The Company from time to time enters into certain types of contracts that contingently require the Company to indemnify parties against third-party claims. These contracts primarily relate to: (i) divestiture agreements, under which the Company may provide customary indemnifications to purchasers of the Company’s businesses or assets; (ii) certain real estate leases, under which the Company may be required to indemnify property owners for environmental and other liabilities, and other claims arising from the Company’s use of the applicable premises; and (iii) certain agreements with the Company’s officers, directors and employees, under which the Company may be required to indemnify such persons for liabilities arising out of their employment relationship. The terms of such obligations vary. Generally, a maximum obligation is not explicitly stated. Because the obligated amounts of these types of agreements often are not explicitly stated, the overall maximum amount of the obligations cannot be reasonably estimated. Historically, the Company has not been obligated to make significant payments for these obligations, and no liabilities have been recorded for these obligations on the Consolidated Balance Sheets as of January 2, 2021 and June 27, 2020. Outstanding Letters of Credit and Performance Bonds As of January 2, 2021, the Company had standby letters of credit of $7.6 million and performance bonds of $0.9 million collateralized by restricted cash. Product Warranties The Company provides reserves for the estimated costs of product warranties at the time revenue is recognized. In general, the Company offers its customers warranties up to three years and has accrued a reserve for the estimated costs of product warranties at the time revenue is recognized. It estimates the costs of its warranty obligations based on its historical experience of known product failure rates, use of materials to repair or replace defective products and service delivery costs incurred in correcting product failures. From time to time, specific warranty accruals may be made if unforeseen technical problems arise. The Company periodically assesses the adequacy of its recorded warranty liabilities and adjusts the amounts as necessary. The following table presents the changes in the Company’s warranty reserve during the three and six months ended January 2, 2021 and December 28, 2019, ( in millions ): Three Months Ended Six Months Ended January 2, 2021 December 28, 2019 January 2, 2021 December 28, 2019 Balance as of beginning of period $ 9.6 $ 8.8 $ 9.4 $ 8.7 Provision for warranty 1.6 0.9 2.0 1.3 Utilization of reserve (1.2) (0.8) (1.4) (1.8) Adjustments to pre-existing warranties (includes changes in estimates) (0.4) 0.3 (0.4) 1.0 Balance as of end of period (1) $ 9.6 $ 9.2 $ 9.6 $ 9.2

Operating Segments and Geograph

Operating Segments and Geographic Information	6 Months Ended
	Jan. 02, 2021
Segment Reporting [Abstract]
Operating Segments and Geographic Information	Note 19. Operating Segments and Geographic Information The Company evaluates its reportable segments in accordance with the authoritative guidance on segment reporting. The Company’s Chief Executive Officer is the Company’s Chief Operating Decision Maker (“CODM”). The Company's reportable segments reflect the way the Company's CODM reviews and assesses performance of the business. The Company’s reportable segments are: (i) Network Enablement (NE): NE provides testing solutions that access the network to perform build-out and maintenance tasks. These solutions include instruments, software and services to design, build, activate, certify, troubleshoot and optimize networks. The Company also offers a range of product support and professional services such as repair, calibration, software support and technical assistance for our products. (ii) Service Enablement (SE): SE solutions are embedded systems that yield network, service and application performance data. These solutions—including instruments, microprobes and software—monitor, collect and analyze network data to reveal the actual customer experience and to identify opportunities for new revenue streams and network optimization. (iii) Optical Security and Performance Products (OSP): OSP provides innovative, precision, high performance optical products for anti-counterfeiting, government, industrial, automotive and consumer electronic markets, including 3D Sensing applications. The CODM manages the Company in two broad business categories: NSE and OSP. The CODM evaluates segment performance of the NSE business based on the combined segment gross and operating margins. Operating expenses associated with the NSE business are not allocated to the individual segments within NSE, as they are managed centrally at the business unit level. The CODM evaluates segment performance of the OSP business based on segment operating margin. The Company allocates corporate-level operating expenses to its segment results, except for certain non-core operating and non-operating activities as discussed below. The Company does not allocate stock-based compensation, acquisition-related charges, amortization of intangibles, restructuring and related (benefits) charges, impairment of goodwill, changes in fair value of contingent consideration liabilities, non-operating income and expenses, or other charges unrelated to core operating performance to its segments because management does not include this information in its measurement of the performance of the operating segments. These items are presented as “Other Items” in the table below. Additionally, the Company does not specifically identify and allocate all assets by operating segment. The following tables presents information on the Company’s reportable segments for the three months ended January 2, 2021 and December 28, 2019 ( in millions ): Three Months Ended January 2, 2021 Network and Service Enablement Network Enablement Service Enablement Network and Service Enablement Optical Security and Performance Products Other Items Consolidated GAAP Measures Product revenue $ 156.4 $ 12.9 $ 169.3 $ 92.8 $ — $ 262.1 Service revenue 24.5 12.9 37.4 0.4 — 37.8 Net revenue $ 180.9 $ 25.8 $ 206.7 $ 93.2 $ — $ 299.9 Gross profit $ 113.3 $ 17.6 $ 130.9 $ 58.4 $ (9.2) $ 180.1 Gross margin 62.6 % 68.2 % 63.3 % 62.7 % 60.1 % Operating income $ 22.2 $ 44.6 $ (24.5) $ 42.3 Operating margin 10.7 % 47.9 % 14.1 % Three Months Ended December 28, 2019 Network and Service Enablement Network Enablement Service Enablement Network and Service Enablement Optical Security and Performance Products Other Items Consolidated GAAP Measures Product revenue $ 183.9 $ 18.6 $ 202.5 $ 79.4 $ — $ 281.9 Service revenue 19.1 12.6 31.7 0.1 — 31.8 Net revenue $ 203.0 $ 31.2 $ 234.2 $ 79.5 $ — $ 313.7 Gross profit $ 134.8 $ 20.8 $ 155.6 $ 43.6 $ (9.7) $ 189.5 Gross margin 66.4 % 66.7 % 66.4 % 54.8 % 60.4 % Operating income $ 37.5 $ 30.4 $ (22.9) $ 45.0 Operating margin 16.0 % 38.2 % 14.3 % Three Months Ended January 2, 2021 December 28, 2019 Corporate reconciling items impacting gross profit: Total segment gross profit $ 189.3 $ 199.2 Stock-based compensation (1.2) (1.0) Amortization of intangibles (8.4) (8.4) Other charges (benefits) unrelated to core operating performance (1) 0.4 (0.3) GAAP gross profit $ 180.1 $ 189.5 Corporate reconciling items impacting operating income: Total segment operating income $ 66.8 $ 67.9 Stock-based compensation (9.9) (11.3) Amortization of intangibles (16.5) (17.2) Change in fair value of contingent liability 1.5 6.0 Other charges unrelated to core operating performance (1) 0.6 (1.3) Restructuring and related (benefits) charges (0.2) 0.9 GAAP operating income from continuing operations $ 42.3 $ 45.0 (1) During the three months ended January 2, 2021 and December 28, 2019, other charges unrelated to core operating performance primarily consisted of certain acquisition and integration related changes, transformational initiatives such as, site consolidations, and reorganization, and loss on disposal of long-lived assets. Six Months Ended January 2, 2021 Network and Service Enablement Network Enablement Service Enablement Network and Service Enablement Optical Security and Performance Products Other Items (1) Consolidated GAAP Measures Product revenue $ 295.6 $ 20.6 $ 316.2 $ 193.8 $ — $ 510.0 Service revenue 47.4 26.6 74.0 0.6 — 74.6 Net revenue $ 343.0 $ 47.2 $ 390.2 $ 194.4 $ — $ 584.6 Gross profit $ 216.8 $ 31.9 $ 248.7 $ 119.4 $ (18.6) $ 349.5 Gross margin 63.2 % 67.6 % 63.7 % 61.4 % 59.8 % Operating income $ 35.5 $ 91.9 $ (53.8) $ 73.6 Operating margin 9.1 % 47.3 % 12.6 % Six Months Ended December 28, 2019 Network and Service Enablement Network Enablement Service Enablement Network and Service Enablement Optical Security and Performance Products Other Items (1) Consolidated GAAP Measures Product revenue $ 361.2 $ 26.3 $ 387.5 $ 159.2 $ — $ 546.7 Service revenue 40.7 25.8 66.5 0.3 — 66.8 Net revenue $ 401.9 $ 52.1 $ 454.0 $ 159.5 $ — $ 613.5 Gross profit $ 262.8 $ 33.4 $ 296.2 $ 86.9 $ (19.2) $ 363.9 Gross margin 65.4 % 64.1 % 65.2 % 54.5 % 59.3 % Operating income $ 59.8 $ 60.8 $ (54.9) $ 65.7 Operating margin 13.2 % 38.1 % 10.7 % Six Months Ended January 2, 2021 December 28, 2019 Corporate reconciling items impacting gross profit: Total segment gross profit $ 368.1 $ 383.1 Stock-based compensation (2.4) (2.0) Amortization of intangibles (16.6) (16.8) Other charges (benefits) unrelated to core operating performance (1) 0.4 (0.4) GAAP gross profit $ 349.5 $ 363.9 Corporate reconciling items impacting operating income: Total segment operating income $ 127.4 $ 120.6 Stock-based compensation (22.4) (21.6) Amortization of intangibles (33.2) (34.3) Change in fair value of contingent liability 1.5 4.3 Other charges unrelated to core operating performance (1) (0.1) (3.9) Restructuring and related charges 0.4 0.6 GAAP operating income from continuing operations $ 73.6 $ 65.7 (1) During the six months ended January 2, 2021 and December 28, 2019, other charges unrelated to core operating performance primarily consisted of certain acquisition and integration related changes, transformational initiatives such as, site consolidations, and reorganization, and loss on disposal of long-lived assets. The Company operates primarily in three geographic regions: Americas, Asia-Pacific, and Europe, Middle East and Africa (EMEA). Net revenue is assigned to the geographic region and country where our product is initially shipped. For example, certain customers may request shipment of our product to a contract manufacturer in one country, which may differ from the location of their end customers. The following tables present net revenue by the three geographic regions we operate in and net revenue from countries that exceeded 10% of our total net revenue for the three and six months ended January 2, 2021 and December 28, 2019 (in millions): Three Months Ended January 2, 2021 December 28, 2019 Product Revenue Service Revenue Total Product Revenue Service Revenue Total Americas: United States $ 74.4 $ 14.2 $ 88.6 $ 83.1 $ 13.1 $ 96.2 Other Americas 16.0 3.8 19.8 17.2 3.4 20.6 Total Americas $ 90.4 $ 18.0 $ 108.4 $ 100.3 $ 16.5 $ 116.8 Asia-Pacific: Greater China $ 69.9 $ 3.3 $ 73.2 $ 78.4 $ 2.1 $ 80.5 Other Asia-Pacific 20.0 3.2 23.2 28.7 3.8 32.5 Total Asia-Pacific $ 89.9 $ 6.5 $ 96.4 $ 107.1 $ 5.9 $ 113.0 EMEA: Switzerland $ 19.8 $ 0.1 $ 19.9 $ 13.4 $ 0.1 $ 13.5 Other EMEA 62.0 13.2 75.2 61.1 9.3 70.4 Total EMEA $ 81.8 $ 13.3 $ 95.1 $ 74.5 $ 9.4 $ 83.9 Total net revenue $ 262.1 $ 37.8 $ 299.9 $ 281.9 $ 31.8 $ 313.7 Six Months Ended January 2, 2021 December 28, 2019 Product Revenue Service Revenue Total Product Revenue Service Revenue Total Americas: United States $ 138.1 $ 28.3 $ 166.4 $ 154.5 $ 26.7 $ 181.2 Other Americas 30.3 7.1 37.4 33.8 7.5 41.3 Total Americas $ 168.4 $ 35.4 $ 203.8 $ 188.3 $ 34.2 $ 222.5 Asia-Pacific: Greater China $ 147.2 $ 5.0 $ 152.2 $ 148.9 $ 3.5 $ 152.4 Other Asia 45.4 7.0 52.4 60.0 7.8 67.8 Total Asia-Pacific $ 192.6 $ 12.0 $ 204.6 $ 208.9 $ 11.3 $ 220.2 EMEA: Switzerland $ 37.7 $ 0.2 $ 37.9 $ 25.6 $ 0.1 $ 25.7 Other EMEA 111.3 27.0 138.3 123.9 21.2 145.1 Total EMEA $ 149.0 $ 27.2 $ 176.2 $ 149.5 $ 21.3 $ 170.8 Total net revenue $ 510.0 $ 74.6 $ 584.6 $ 546.7 $ 66.8 $ 613.5

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jan. 02, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Years	Fiscal Years The Company utilizes a 52-53 week fiscal year ending on the Saturday closest to June 30th. The Company’s fiscal 2021 is a 53-week year ending on July 3, 2021. The Company’s fiscal 2020 was a 52-week year ending on June 27, 2020. The Company’s first quarter of fiscal year 2021 was a 14 week quarter compared to the standard 13 week quarters.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the Company and its wholly-owned subsidiaries. All inter-company accounts and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of the Company’s consolidated financial statements requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements, the reported amount of net revenues and expenses and the disclosure of commitments and contingencies during the reporting periods. The Company bases estimates on historical experience and assumptions about future periods that are believed to be reasonable based on available information. The Company’s reported financial positions or results of operations may be materially different under changed conditions or when using different estimates and assumptions, particularly with respect to significant accounting policies. If estimates or assumptions differ from actual results, subsequent periods are adjusted to reflect readily available current information.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted In June 2016, the FASB issued guidance that changes the accounting for recognizing impairments of financial assets. Under the new guidance, credit losses for certain types of financial assets will be estimated based on expected losses. In the first quarter of fiscal 2021 the Company adopted the accounting standard using the modified retrospective approach. The adoption of the new standard did not have a material impact on the Company’s consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted In August 2018, the FASB issued guidance to amend the disclosure requirements related to defined benefit pension and other post-retirement plans. Some of the changes include adding a disclosure requirement for significant gains and losses related to changes in the benefit obligation for the period and removing the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year. This guidance is effective for the Company in the first quarter of fiscal 2022 and early adoption is permitted. The Company is evaluating the impact of adopting this new accounting guidance on its consolidated financial statements. In December 2019, the FASB issued guidance which simplifies the accounting for income taxes, eliminates certain exceptions within ASC 740, Income Taxes , and clarifies certain aspects of the current guidance to promote consistency among reporting entities. The guidance is effective for the Company in the first quarter of fiscal year 2022 and early adoption is permitted. The Company is evaluating the effects that the adoption of this guidance will have on its consolidated financial statements. In August 2020, the FASB issued guidance which simplifies the accounting for financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity. The guidance allows for either full retrospective adoption or modified retrospective adoption. The guidance is effective for the Company in the first quarter of fiscal year 2023 and early adoption is permitted. The Company is evaluating the effects that the impact of adoption of this guidance will have on its consolidated financial statements.
Fair Value Measurements	The three levels of inputs that may be used to measure fair value are as follows: • Level 1: includes financial instruments for which quoted market prices for identical instruments are available in active markets. Level 1 assets of the Company include money market funds, U.S. Treasury securities and marketable equity securities as they are traded with sufficient volume and frequency of transactions. • Level 2: includes financial instruments for which the valuations are based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities. Level 2 instruments of the Company generally include certain U.S. and foreign government and agency securities, commercial paper, corporate and municipal bonds and notes, asset-backed securities, certificates of deposit, and foreign currency forward contracts. To estimate their fair value, the Company utilizes pricing models based on market data. The significant inputs for the valuation model usually include benchmark yields, reported trades, broker and dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data, and industry and economic events. • Level 3: includes financial instruments for which fair value is derived from valuation-based inputs, that are unobservable and significant to the overall fair value measurement. As of January 2, 2021 and June 27, 2020, the Company did not hold any Level 3 investment securities. The fair value of the Company’s contingent liabilities was determined using Level 3 inputs . The Company’s Level 3 liabilities as of January 2, 2021, consist of contingent purchase consideration related to its business and asset acquisitions completed during fiscal 2020 and 2019. The fair value of earn-out liabilities was determined using a Monte Carlo Simulation that includes significant unobservable inputs such as the risk-adjusted discount rate, gross profit volatility, and projected financial forecast of acquired business over the earn-out period. The fair value of contingent consideration liabilities is remeasured at each reporting period at the estimated fair value based on the inputs on the date of remeasurement, with the change in fair value recognized in the Selling, General and Administrative expense of the Consolidated Statements of Operations.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jan. 02, 2021
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Net (Loss) Income Per Share	The following table sets forth the computation of basic and diluted net income per share ( in millions, except per share data ): Three Months Ended Six Months Ended January 2, 2021 December 28, 2019 January 2, 2021 December 28, 2019 Numerator: Net income $ 21.9 $ 28.0 $ 36.2 $ 34.8 Denominator: Weighted-average shares outstanding: Basic 228.8 230.0 228.8 229.7 Shares issuable assuming conversion of convertible notes (1) 0.3 5.1 — 4.0 Effect of dilutive securities from stock-based compensation plans 2.0 3.2 2.5 3.7 Diluted 231.1 238.3 231.3 237.4 Net income per share: Basic $ 0.10 $ 0.12 $ 0.16 $ 0.15 Diluted $ 0.09 $ 0.12 $ 0.16 $ 0.15 (1) Represents the number of shares that would be issued if the Company’s 1.00% Senior Convertible Notes (2024 Notes) and 1.75% Senior Convertible Notes (2023 Notes) had been converted. The par amount of the Company’s convertible notes is payable in cash equal to the principal amount of the notes plus any accrued and unpaid interest. The “in-the money” conversion benefit feature above the conversion price of the 2023 Notes and 2024 Notes of, $13.94 and $13.22 per share, respectively is payable in cash, shares of the Company’s common stock or a combination of both, at the Company’s election. Refer to “Note 11. Debt” for more details.
Schedule of Weighted Average Potentially Dilutive Securities Excluded from the Computation Because Their Effect Would Have Been Anti-dilutive	The following table sets forth the weighted-average potentially dilutive securities excluded from the computation of the diluted net income per share because their effect would have been anti-dilutive ( in millions ): Three Months Ended Six Months Ended January 2, 2021 December 28, 2019 January 2, 2021 December 28, 2019 Restricted stock units — 0.3 0.5 0.2

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jan. 02, 2021
Equity [Abstract]
Schedule of Components of Accumulated Other Comprehensive Loss	For the six months ended January 2, 2021, the changes in accumulated other comprehensive loss, net of tax, by component were as follows ( in millions ): Unrealized losses on available-for sale investments Foreign currency translation adjustments Change in unrealized components of defined benefit obligations (1) Total Beginning balance as of June 27, 2020 $ (5.1) $ (129.6) $ (31.2) $ (165.9) Other comprehensive income before reclassification — 62.0 — 62.0 Amounts reclassified to accumulated other comprehensive loss — — 1.5 1.5 Net current-period other comprehensive income — 62.0 1.5 63.5 Ending balance as of January 2, 2021 $ (5.1) $ (67.6) $ (29.7) $ (102.4) (1) The amount reclassified out of accumulated other comprehensive loss represents the amortization of actuarial losses included as a component of cost of revenues, research and development (R&D) and selling, general and administrative (SG&A) in the Consolidated Statement of Operations for the six months ended January 2, 2021. There was no tax impact for the six months ended January 2, 2021. Refer to “Note 17. Employee Pension and Other Benefit Plans” for more details on the computation of net periodic cost for pension plans.

Balance Sheet and Other Detai_2

Balance Sheet and Other Details (Tables)	6 Months Ended
	Jan. 02, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Activity Related to Deferred Revenue and Financed Unearned Services Revenue	The following tables summarize the activity related to deferred revenue ( in millions ): January 2, 2021 Three months ended Six Months Ended Deferred revenue: Balance at beginning of period $ 80.1 $ 74.6 Revenue deferrals for new contracts (1) 31.8 61.4 Revenue recognized during the period (2) (29.9) (54.0) Balance at end of period (3) $ 82.0 $ 82.0 (1) Included in these amounts is the impact from foreign currency exchange rate fluctuations. (2) Revenue recognized during the period represents releases from the balance at the beginning of the period as well as releases from the following period quarter-end deferrals. (3) The long-term portion of deferred revenue is included as a component of Other non-current liabilities..
Schedule of Components of Accounts Receivable Allowance	The following table presents the activities and balances for allowance for doubtful accounts ( in millions ): June 27, 2020 Charged to Costs and Expenses Deductions (1) January 2, 2021 Allowance for doubtful accounts $ 3.0 $ 0.6 $ (1.2) $ 2.4 (1) Represents the effect of currency translation adjustments and write-offs of uncollectible accounts, net of recoveries.
Schedule of Components of Inventories	The following table presents the components of inventories, net ( in millions ): January 2, 2021 June 27, 2020 Finished goods $ 37.2 $ 30.0 Work in process 13.6 22.5 Raw materials 37.4 30.8 Inventories, net $ 88.2 $ 83.3
Schedule of Components of Prepayments and Other Current Assets	The following table presents the components of prepayments and other current assets ( in millions ): January 2, 2021 June 27, 2020 Prepayments $ 12.5 $ 10.9 Asset held for sale 2.5 2.5 Advances to contract manufacturers 5.3 7.3 Refundable income taxes 14.1 10.8 Transaction tax receivables 8.6 10.6 Other current assets 15.1 8.7 Prepayments and other current assets $ 58.1 $ 50.8
Schedule of Components of Other Current Liabilities	The following table presents the components of other current liabilities ( in millions ): January 2, 2021 June 27, 2020 Customer prepayments $ 0.2 $ 0.5 Restructuring accrual 3.6 6.5 Income tax payable 20.8 10.7 Warranty accrual 4.5 4.6 Transaction tax payable 4.3 3.2 Operating lease liabilities (Note 12) 12.1 11.7 Other 10.9 11.2 Other current liabilities $ 56.4 $ 48.4
Schedule of Components of Other Non-current Liabilities	The following table presents components of other non-current liabilities ( in millions ): January 2, 2021 June 27, 2020 Pension and post-employment benefits $ 110.9 $ 102.7 Financing obligation 16.2 16.2 Deferred tax liability 24.3 23.9 Long-term deferred revenue 20.1 20.0 Fair value of contingent consideration (Note 8) 6.9 9.4 Operating lease liabilities (Note 12) 25.7 28.1 Uncertain tax position 12.7 11.6 Other 21.4 19.3 Other non-current liabilities $ 238.2 $ 231.2

Investments and Forward Contr_2

Investments and Forward Contracts (Tables)	6 Months Ended
	Jan. 02, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities	The following table presents the Company’s available-for-sale securities as of January 2, 2021 ( in millions ): Amortized Cost/ Carrying Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Available-for-sale debt securities: Asset-backed securities $ 0.9 $ — $ (0.4) $ 0.5 Total available-for-sale debt securities $ 0.9 $ — $ (0.4) $ 0.5 The following table presents the Company’s available-for-sale securities as of June 27, 2020, (in millions): Amortized Cost/ Gross Unrealized Gains Gross Unrealized Losses Fair Value Available-for-sale securities: Asset-backed securities $ 0.9 $ — $ (0.4) $ 0.5 Total available-for-sale securities $ 0.9 $ — $ (0.4) $ 0.5
Schedule of Contractual Maturities of Available-for-sale Securities	During the three and six months ended January 2, 2021 and December 28, 2019, the Company recorded no other-than-temporary impairment charges in each respective period. The following table presents contractual maturities of the Company’s debt securities classified as available-for-sale as of January 2, 2021, ( in millions ): Amortized Cost/ Carrying Cost Estimated Fair Value Amounts maturing in more than 5 years $ 0.9 $ 0.5 Total debt available-for-sale securities $ 0.9 $ 0.5

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jan. 02, 2021
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	The Company’s assets and liabilities measured at fair value (categorized by input measure) for the periods presented are as follows ( in millions ): January 2, 2021 June 27, 2020 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Debt available-for-sale securities: Asset-backed securities $ 0.5 $ — $ 0.5 $ — $ 0.5 $ — $ 0.5 $ — Total debt available-for-sale securities 0.5 — 0.5 — 0.5 — 0.5 — Money market funds 387.2 387.2 — — 334.6 334.6 — — Trading securities 1.6 1.6 — — 1.4 1.4 — — Foreign currency forward contracts (1) 8.4 — 8.4 — 2.2 — 2.2 — Total assets (2) $ 397.7 $ 388.8 $ 8.9 $ — $ 338.7 $ 336.0 $ 2.7 $ — Liability: Foreign currency forward contracts (3) $ 1.5 $ — $ 1.5 $ — $ 1.5 $ — $ 1.5 $ — Contingent consideration (4) 8.9 — — 8.9 9.9 — — 9.9 Total liabilities $ 10.4 $ — $ 1.5 $ 8.9 $ 11.4 $ — $ 1.5 $ 9.9 (1) $8.4 million and $2.2 million in prepayments and other current assets on the Company’s Consolidated Balance Sheets as of January 2, 2021 and June 27, 2020, respectively. (2) Includes as of January 2, 2021, $379.6 million in cash and cash equivalents, $1.6 million in short-term investments, $3.0 million in restricted cash, $8.4 million in prepayments and other current assets and $5.1 million in other non-current assets on the Company’s Consolidated Balance Sheets. Includes as of June 27, 2020, $327.2 million in cash and cash equivalents, $1.4 million in short-term investments, $3.4 million in restricted cash, $2.2 million in prepayments and other current assets, and $4.5 million in other non-current assets on the Company’s Consolidated Balance Sheets. (3) Includes $1.5 million and $1.5 million in other current liabilities on the Company’s Consolidated Balance Sheets as of January 2, 2021 and June 27, 2020, respectively.
Schedule of Changes in Fair Value of Level 3 Liabilities	The following table provides a reconciliation of changes in the fair value of the Company’s Level 3, contingent consideration liabilities, for the three and six months ended January 2, 2021 ( in millions ): Three Months Ended Six Months Ended January 2, 2021 December 28, 2019 January 2, 2021 December 28, 2019 Beginning period balance $ 9.9 $ 40.1 $ 9.9 $ 38.4 Fair value adjustment of contingent consideration liabilities (1.5) (6.0) (1.5) (4.3) Currency translation adjustment 0.5 — 0.5 — Balance as of October 3, 2020 $ 8.9 $ 34.1 $ 8.9 $ 34.1

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jan. 02, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Goodwill	The following table presents changes in goodwill allocated to the Company’s reportable segments (in millions) : Network Enablement Service Enablement Optical Security and Performance Products Total Balance as of June 27, 2020 $ 334.9 $ 4.3 $ 42.2 $ 381.4 Currency translation adjustments 13.6 0.4 — 14.0 Balance as of January 2, 2021 $ 348.5 $ 4.7 $ 42.2 $ 395.4

Acquired Developed Technology_2

Acquired Developed Technology and Other Intangibles (Tables)	6 Months Ended
	Jan. 02, 2021
Acquired Developed Technology and Other Intangibles
Schedule of Acquired Developed Technology and Other Intangibles	The following tables present details of the Company’s acquired developed technology, customer relationships and other intangibles ( in millions ): As of January 2, 2021 Gross Carrying Amount Accumulated Amortization Net Acquired developed technology $ 447.8 $ (364.9) $ 82.9 Customer relationships 200.4 (172.1) 28.3 Other (1) 37.6 (28.0) 9.6 Total intangibles $ 685.8 $ (565.0) $ 120.8 As of June 27, 2020 Gross Carrying Amount Accumulated Amortization Net Acquired developed technology $ 437.1 $ (341.6) $ 95.5 Customer relationships 194.7 (154.1) 40.6 Other (1) 35.7 (23.7) 12.0 Total intangibles $ 667.5 $ (519.4) $ 148.1 (1) Other intangibles consist of customer backlog, non-competition agreements, patents, proprietary know-how and trade secrets, trademarks and trade names and other assets.
Finite-lived Intangible Assets Amortization Expense	The following table presents the amortization recorded relating to acquired developed technology, customer relationships and other intangibles ( in millions ): Three Months Ended Six Months Ended January 2, 2021 December 28, 2019 January 2, 2021 December 28, 2019 Cost of revenues $ 8.4 $ 8.4 $ 16.6 $ 16.8 Operating expenses 8.1 8.8 16.6 17.5 Total amortization of intangible assets $ 16.5 $ 17.2 $ 33.2 $ 34.3
Schedule of Estimated Future Amortization	Based on the carrying amount of acquired developed technology, customer relationships and other intangibles as of January 2, 2021, and assuming no future impairment of the underlying assets, the estimated future amortization is as follows ( in millions ): Fiscal Years Remainder of 2021 $ 32.9 2022 39.5 2023 25.4 2024 10.3 2025 5.7 Thereafter 7.0 Total amortization $ 120.8

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jan. 02, 2021
Debt Disclosure [Abstract]
Schedule of Carrying Amounts of the Liability and Equity Components of Convertible Debt	The following table presents the carrying amounts of the liability and equity components of our debt ( in millions ): January 2, 2021 June 27, 2020 Principal amount of 1.00% Senior Convertible Notes $ 460.0 $ 460.0 Principal amount of 1.75% Senior Convertible Notes 225.0 225.0 Unamortized discount of liability component (68.2) (79.1) Unamortized debt issuance cost (4.4) (5.0) Carrying amount of liability component $ 612.4 $ 600.9 Carrying amount of equity component (1) $ 136.8 $ 136.8
Summary of Effective Interest Rate and the Interest Expense for the Contractual Interest and the Accretion of Debt Discount	The following table presents the interest expense for contractual interest, amortization of debt issuance costs and accretion of debt discount ( in millions ): Three Months Ended Six Months Ended January 2, 2021 December 28, 2019 January 2, 2021 December 28, 2019 Interest expense-contractual interest $ 2.4 $ 2.2 $ 4.7 $ 4.3 Amortization of debt issuance cost 0.5 0.4 1.0 0.7 Accretion of debt discount 5.5 5.2 10.8 10.3

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jan. 02, 2021
Leases [Abstract]
Lease, Cost	The balance sheet information related to our operating leases is as follows ( in millions ): January 2, 2021 Other non-current assets $ 39.9 Total operating ROU assets $ 39.9 Other current liabilities $ 12.1 Other non-current liabilities 25.7 Total operating lease liabilities $ 37.8
Lessee, Operating Lease, Liability, Maturity	Future minimum operating lease payments as of January 2, 2021 are as follows ( in millions ): Fiscal Years Operating Leases Remainder of 2021 $ 6.0 2022 11.8 2023 7.2 2024 5.2 2025 4.0 Thereafter 7.9 Total lease payments $ 42.1 Less: Interest (4.3) Present value of lease liabilities $ 37.8 Future minimum operating lease payments as of June 27, 2020, were as follows ( in millions ): Fiscal Years Operating Leases 2021 $ 12.8 2022 10.2 2023 6.0 2024 4.6 2025 3.6 Thereafter 7.5 Total lease payments $ 44.7 Less: Interest (4.9) Present value of lease liabilities $ 39.8

Restructuring and Related Cha_2

Restructuring and Related Charges (Tables)	6 Months Ended
	Jan. 02, 2021
Restructuring and Related Activities [Abstract]
Schedule of Various Restructuring Plans	The following table presents the adjustments to the accrued restructuring expenses related to all of the Company’s restructuring plans described below for the three and six months ended January 2, 2021 (in millions) : Balance June 27, 2020 Six Months Ended January 2, 2021 Benefits Cash Settlements Non-cash Settlements and Other Adjustments (2) Balance January 2, 2021 Fiscal 2019 Plan NSE, including AW (1) $ 6.5 $ (0.4) $ (2.5) $ — $ 3.6 Total (3) $ 6.5 $ (0.4) $ (2.5) $ — $ 3.6 (1) Plan type includes workforce reduction cost. (2) Other adjustments represents the effect of currency translation adjustments. (3) $3.6 million and $6.5 million in other current liabilities on the Consolidated Balance Sheets as of January 2, 2021 and June 27, 2020, respectively.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jan. 02, 2021
Share-based Payment Arrangement [Abstract]
Schedule of the Impact On the Entity's Results of Operations of Recording Stock-Based Compensation by Function	The impact on the Company’s results of operations of recording stock-based compensation by function for the three and six months ended January 2, 2021 and December 28, 2019, as follows ( in millions ): Three Months Ended Six Months Ended January 2, 2021 December 28, 2019 January 2, 2021 December 28, 2019 Cost of revenues $ 1.2 $ 1.0 $ 2.4 $ 2.0 Research and development 2.3 2.0 4.5 3.7 Selling, general and administrative 6.4 8.3 15.5 15.9 Total stock-based compensation expense $ 9.9 $ 11.3 $ 22.4 $ 21.6

Employee Pension and Other Be_2

Employee Pension and Other Benefit Plans (Tables)	6 Months Ended
	Jan. 02, 2021
Retirement Benefits [Abstract]
Schedule of Net Periodic Cost for the Pension and Benefits Plans	The following table presents the components of net periodic cost for the pension and benefits plans ( in millions ): Three Months Ended Six Months Ended January 2, 2021 December 28, 2019 January 2, 2021 December 28, 2019 Service cost $ 0.1 $ 0.1 $ 0.2 $ 0.2 Interest cost 0.3 0.5 0.6 0.9 Expected return on plan assets (0.4) (0.4) (0.8) (0.8) Amortization of net actuarial losses 0.7 0.8 1.5 1.5 Net periodic benefit cost $ 0.7 $ 1.0 $ 1.5 $ 1.8

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jan. 02, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Changes in the Entity's Warranty Reserve	The following table presents the changes in the Company’s warranty reserve during the three and six months ended January 2, 2021 and December 28, 2019, ( in millions ): Three Months Ended Six Months Ended January 2, 2021 December 28, 2019 January 2, 2021 December 28, 2019 Balance as of beginning of period $ 9.6 $ 8.8 $ 9.4 $ 8.7 Provision for warranty 1.6 0.9 2.0 1.3 Utilization of reserve (1.2) (0.8) (1.4) (1.8) Adjustments to pre-existing warranties (includes changes in estimates) (0.4) 0.3 (0.4) 1.0 Balance as of end of period (1) $ 9.6 $ 9.2 $ 9.6 $ 9.2

Operating Segments and Geogra_2

Operating Segments and Geographic Information (Tables)	6 Months Ended
	Jan. 02, 2021
Segment Reporting [Abstract]
Schedule of Information on Reportable Segments	The following tables presents information on the Company’s reportable segments for the three months ended January 2, 2021 and December 28, 2019 ( in millions ): Three Months Ended January 2, 2021 Network and Service Enablement Network Enablement Service Enablement Network and Service Enablement Optical Security and Performance Products Other Items Consolidated GAAP Measures Product revenue $ 156.4 $ 12.9 $ 169.3 $ 92.8 $ — $ 262.1 Service revenue 24.5 12.9 37.4 0.4 — 37.8 Net revenue $ 180.9 $ 25.8 $ 206.7 $ 93.2 $ — $ 299.9 Gross profit $ 113.3 $ 17.6 $ 130.9 $ 58.4 $ (9.2) $ 180.1 Gross margin 62.6 % 68.2 % 63.3 % 62.7 % 60.1 % Operating income $ 22.2 $ 44.6 $ (24.5) $ 42.3 Operating margin 10.7 % 47.9 % 14.1 % Three Months Ended December 28, 2019 Network and Service Enablement Network Enablement Service Enablement Network and Service Enablement Optical Security and Performance Products Other Items Consolidated GAAP Measures Product revenue $ 183.9 $ 18.6 $ 202.5 $ 79.4 $ — $ 281.9 Service revenue 19.1 12.6 31.7 0.1 — 31.8 Net revenue $ 203.0 $ 31.2 $ 234.2 $ 79.5 $ — $ 313.7 Gross profit $ 134.8 $ 20.8 $ 155.6 $ 43.6 $ (9.7) $ 189.5 Gross margin 66.4 % 66.7 % 66.4 % 54.8 % 60.4 % Operating income $ 37.5 $ 30.4 $ (22.9) $ 45.0 Operating margin 16.0 % 38.2 % 14.3 % Three Months Ended January 2, 2021 December 28, 2019 Corporate reconciling items impacting gross profit: Total segment gross profit $ 189.3 $ 199.2 Stock-based compensation (1.2) (1.0) Amortization of intangibles (8.4) (8.4) Other charges (benefits) unrelated to core operating performance (1) 0.4 (0.3) GAAP gross profit $ 180.1 $ 189.5 Corporate reconciling items impacting operating income: Total segment operating income $ 66.8 $ 67.9 Stock-based compensation (9.9) (11.3) Amortization of intangibles (16.5) (17.2) Change in fair value of contingent liability 1.5 6.0 Other charges unrelated to core operating performance (1) 0.6 (1.3) Restructuring and related (benefits) charges (0.2) 0.9 GAAP operating income from continuing operations $ 42.3 $ 45.0 (1) During the three months ended January 2, 2021 and December 28, 2019, other charges unrelated to core operating performance primarily consisted of certain acquisition and integration related changes, transformational initiatives such as, site consolidations, and reorganization, and loss on disposal of long-lived assets. Six Months Ended January 2, 2021 Network and Service Enablement Network Enablement Service Enablement Network and Service Enablement Optical Security and Performance Products Other Items (1) Consolidated GAAP Measures Product revenue $ 295.6 $ 20.6 $ 316.2 $ 193.8 $ — $ 510.0 Service revenue 47.4 26.6 74.0 0.6 — 74.6 Net revenue $ 343.0 $ 47.2 $ 390.2 $ 194.4 $ — $ 584.6 Gross profit $ 216.8 $ 31.9 $ 248.7 $ 119.4 $ (18.6) $ 349.5 Gross margin 63.2 % 67.6 % 63.7 % 61.4 % 59.8 % Operating income $ 35.5 $ 91.9 $ (53.8) $ 73.6 Operating margin 9.1 % 47.3 % 12.6 % Six Months Ended December 28, 2019 Network and Service Enablement Network Enablement Service Enablement Network and Service Enablement Optical Security and Performance Products Other Items (1) Consolidated GAAP Measures Product revenue $ 361.2 $ 26.3 $ 387.5 $ 159.2 $ — $ 546.7 Service revenue 40.7 25.8 66.5 0.3 — 66.8 Net revenue $ 401.9 $ 52.1 $ 454.0 $ 159.5 $ — $ 613.5 Gross profit $ 262.8 $ 33.4 $ 296.2 $ 86.9 $ (19.2) $ 363.9 Gross margin 65.4 % 64.1 % 65.2 % 54.5 % 59.3 % Operating income $ 59.8 $ 60.8 $ (54.9) $ 65.7 Operating margin 13.2 % 38.1 % 10.7 % Six Months Ended January 2, 2021 December 28, 2019 Corporate reconciling items impacting gross profit: Total segment gross profit $ 368.1 $ 383.1 Stock-based compensation (2.4) (2.0) Amortization of intangibles (16.6) (16.8) Other charges (benefits) unrelated to core operating performance (1) 0.4 (0.4) GAAP gross profit $ 349.5 $ 363.9 Corporate reconciling items impacting operating income: Total segment operating income $ 127.4 $ 120.6 Stock-based compensation (22.4) (21.6) Amortization of intangibles (33.2) (34.3) Change in fair value of contingent liability 1.5 4.3 Other charges unrelated to core operating performance (1) (0.1) (3.9) Restructuring and related charges 0.4 0.6 GAAP operating income from continuing operations $ 73.6 $ 65.7 (1) During the six months ended January 2, 2021 and December 28, 2019, other charges unrelated to core operating performance primarily consisted of certain acquisition and integration related changes, transformational initiatives such as, site consolidations, and reorganization, and loss on disposal of long-lived assets.
Schedule of Revenue by Geographic Regions	The following tables present net revenue by the three geographic regions we operate in and net revenue from countries that exceeded 10% of our total net revenue for the three and six months ended January 2, 2021 and December 28, 2019 (in millions): Three Months Ended January 2, 2021 December 28, 2019 Product Revenue Service Revenue Total Product Revenue Service Revenue Total Americas: United States $ 74.4 $ 14.2 $ 88.6 $ 83.1 $ 13.1 $ 96.2 Other Americas 16.0 3.8 19.8 17.2 3.4 20.6 Total Americas $ 90.4 $ 18.0 $ 108.4 $ 100.3 $ 16.5 $ 116.8 Asia-Pacific: Greater China $ 69.9 $ 3.3 $ 73.2 $ 78.4 $ 2.1 $ 80.5 Other Asia-Pacific 20.0 3.2 23.2 28.7 3.8 32.5 Total Asia-Pacific $ 89.9 $ 6.5 $ 96.4 $ 107.1 $ 5.9 $ 113.0 EMEA: Switzerland $ 19.8 $ 0.1 $ 19.9 $ 13.4 $ 0.1 $ 13.5 Other EMEA 62.0 13.2 75.2 61.1 9.3 70.4 Total EMEA $ 81.8 $ 13.3 $ 95.1 $ 74.5 $ 9.4 $ 83.9 Total net revenue $ 262.1 $ 37.8 $ 299.9 $ 281.9 $ 31.8 $ 313.7 Six Months Ended January 2, 2021 December 28, 2019 Product Revenue Service Revenue Total Product Revenue Service Revenue Total Americas: United States $ 138.1 $ 28.3 $ 166.4 $ 154.5 $ 26.7 $ 181.2 Other Americas 30.3 7.1 37.4 33.8 7.5 41.3 Total Americas $ 168.4 $ 35.4 $ 203.8 $ 188.3 $ 34.2 $ 222.5 Asia-Pacific: Greater China $ 147.2 $ 5.0 $ 152.2 $ 148.9 $ 3.5 $ 152.4 Other Asia 45.4 7.0 52.4 60.0 7.8 67.8 Total Asia-Pacific $ 192.6 $ 12.0 $ 204.6 $ 208.9 $ 11.3 $ 220.2 EMEA: Switzerland $ 37.7 $ 0.2 $ 37.9 $ 25.6 $ 0.1 $ 25.7 Other EMEA 111.3 27.0 138.3 123.9 21.2 145.1 Total EMEA $ 149.0 $ 27.2 $ 176.2 $ 149.5 $ 21.3 $ 170.8 Total net revenue $ 510.0 $ 74.6 $ 584.6 $ 546.7 $ 66.8 $ 613.5

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jan. 02, 2021	Dec. 28, 2019	Jan. 02, 2021	Dec. 28, 2019	May 29, 2018	Mar. 03, 2017
Numerator:
Net income	$ 21.9	$ 28	$ 36.2	$ 34.8
Weighted-average shares outstanding:
Basic (in shares)	228.8	230	228.8	229.7
Shares issuable assuming conversion of convertible notes (in shares)	0.3	5.1	0	4
Effect of dilutive securities from stock-based benefit plans (in shares)	2	3.2	2.5	3.7
Diluted (in shares)	231.1	238.3	231.3	237.4
Net income per share:
Basic (in dollars per share)	$ 0.10	$ 0.12	$ 0.16	$ 0.15
Dilutive (in dollars per share)	$ 0.09	$ 0.12	$ 0.16	$ 0.15
2024 Notes | Convertible Notes
Convertible notes
Interest rate on senior convertible notes	1.00%		1.00%			1.00%
Conversion price of debt (in dollars per share)			$ 13.94
2023 Notes | Convertible Notes
Convertible notes
Interest rate on senior convertible notes	1.75%		1.75%		1.75%
Conversion price of debt (in dollars per share)			$ 13.22
Restricted stock units
Convertible notes
Total potentially dilutive securities (in shares)	0	0.3	0.5	0.2

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jan. 02, 2021	Dec. 28, 2019	Jan. 02, 2021	Dec. 28, 2019
Changes in accumulated other comprehensive income (loss) by component
Balance at the beginning of the period	$ 753,800,000	$ 708,100,000	$ 711,400,000	$ 725,800,000
Other comprehensive income before reclassification			62,000,000
Amounts reclassified to accumulated other comprehensive loss			1,500,000
Net change in accumulated other comprehensive income	35,100,000	28,800,000	63,500,000	2,100,000
Balance at the end of the period	801,000,000	764,300,000	801,000,000	764,300,000
Tax impact of amortization of actuarial gains (losses)			0
Total
Changes in accumulated other comprehensive income (loss) by component
Balance at the beginning of the period	(137,500,000)	(161,300,000)	(165,900,000)	(134,600,000)
Net change in accumulated other comprehensive income	35,100,000	28,800,000	63,500,000	2,100,000
Balance at the end of the period	(102,400,000)	$ (132,500,000)	(102,400,000)	$ (132,500,000)
Unrealized losses on available-for sale investments
Changes in accumulated other comprehensive income (loss) by component
Balance at the beginning of the period			(5,100,000)
Other comprehensive income before reclassification			0
Amounts reclassified to accumulated other comprehensive loss			0
Net change in accumulated other comprehensive income			0
Balance at the end of the period	(5,100,000)		(5,100,000)
Foreign  currency translation adjustments
Changes in accumulated other comprehensive income (loss) by component
Balance at the beginning of the period			(129,600,000)
Other comprehensive income before reclassification			62,000,000
Amounts reclassified to accumulated other comprehensive loss			0
Net change in accumulated other comprehensive income			62,000,000
Balance at the end of the period	(67,600,000)		(67,600,000)
Change in unrealized components of defined benefit obligations
Changes in accumulated other comprehensive income (loss) by component
Balance at the beginning of the period			(31,200,000)
Other comprehensive income before reclassification			0
Amounts reclassified to accumulated other comprehensive loss			1,500,000
Net change in accumulated other comprehensive income			1,500,000
Balance at the end of the period	$ (29,700,000)		$ (29,700,000)

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Millions	May 31, 2019	Oct. 30, 2018	May 31, 2019	Jun. 27, 2020	Jan. 02, 2021
Business Acquisition [Line Items]
Fair value of contingent consideration				$ 9.9	$ 8.9
Other
Business Acquisition [Line Items]
Cash consideration paid at closing				5.2
Fair value of contingent consideration				$ 5.5
3Z Telecom, Inc.
Business Acquisition [Line Items]
Cash consideration paid at closing			$ 23.2
Earn-out liability	$ 7		$ 7
Earn-out liability period	2 years
RPC Photonics, Inc.
Business Acquisition [Line Items]
Cash consideration paid at closing		$ 33.4
Earn-out liability		$ 53
Earn-out liability period		4 years
Acquired Developed Technology And Customer Relationships | Other
Business Acquisition [Line Items]
Estimated useful life				6 years
Developed Technology Rights | Other
Business Acquisition [Line Items]
Intangible assets acquired				$ 6.2
Customer Relationships | Other
Business Acquisition [Line Items]
Intangible assets acquired				$ 1.4

Balance Sheet and Other Detai_3

Balance Sheet and Other Details - Contract Liabilities (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jan. 02, 2021	Jan. 02, 2021	Jun. 27, 2020
Capitalized Contract Cost [Line Items]
Unbilled receivables	$ 5.5	$ 5.5	$ 3.8
Deferred revenue:
Balance at beginning of period	80.1	74.6
Revenue deferrals for new contracts	31.8	61.4
Revenue recognized during the period	(29.9)	(54)
Balance at end of period	$ 82	$ 82
Minimum
Capitalized Contract Cost [Line Items]
Payment period from invoice date		30 days
Maximum
Capitalized Contract Cost [Line Items]
Payment period from invoice date		90 days

Balance Sheet and Other Detai_4

Balance Sheet and Other Details - Narrative (Details) $ in Millions	Jan. 02, 2021USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Remaining performance obligation	$ 202.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-03
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	88.00%
Remaining performance obligation, period	12 months

Balance Sheet and Other Detai_5

Balance Sheet and Other Details - Accounts Receivable Reserves and Allowances (Details) $ in Millions	6 Months Ended
	Jan. 02, 2021USD ($)
Components of accounts receivable reserves and allowances
Beginning balance	$ 3
Charged to Costs and Expenses	0.6
Deductions	(1.2)
Ending balance	$ 2.4

Balance Sheet and Other Detai_6

Balance Sheet and Other Details - Inventories (Details) - USD ($) $ in Millions	Jan. 02, 2021	Jun. 27, 2020
Inventories, net
Finished goods	$ 37.2	$ 30
Work in process	13.6	22.5
Raw materials	37.4	30.8
Inventories, net	$ 88.2	$ 83.3

Balance Sheet and Other Detai_7

Balance Sheet and Other Details - Prepayments and Other Current Assets (Details) - USD ($) $ in Millions	Jan. 02, 2021	Jun. 27, 2020
Prepayments and other current assets
Prepayments	$ 12.5	$ 10.9
Asset held for sale	2.5	2.5
Advances to contract manufacturers	5.3	7.3
Refundable income taxes	14.1	10.8
Transaction tax receivables	8.6	10.6
Other current assets	15.1	8.7
Prepayments and other current assets	$ 58.1	$ 50.8

Balance Sheet and Other Detai_8

Balance Sheet and Other Details - Other Current Liabilities (Details) - USD ($) $ in Millions	Jan. 02, 2021	Jun. 27, 2020
Other current liabilities
Customer prepayments	$ 0.2	$ 0.5
Restructuring accrual	3.6	6.5
Income tax payable	20.8	10.7
Warranty accrual	4.5	4.6
Transaction tax payable	4.3	3.2
Operating lease liabilities	12.1	11.7
Other	10.9	11.2
Other current liabilities	$ 56.4	$ 48.4
Operating Lease, Liability, Current, Statement of Financial Position	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent

Balance Sheet and Other Detai_9

Balance Sheet and Other Details - Other Non-Current Liabilities (Details) - USD ($) $ in Millions	Jan. 02, 2021	Jun. 27, 2020
Other non-current liabilities
Pension and post-employment benefits	$ 110.9	$ 102.7
Financing obligation	16.2	16.2
Deferred tax liability	24.3	23.9
Long-term deferred revenue	20.1	20
Fair value of contingent consideration	6.9	9.4
Operating lease liabilities (Note 12)	25.7	28.1
Uncertain tax position	12.7	11.6
Other	21.4	19.3
Other non-current liabilities	$ 238.2	$ 231.2
Operating Lease, Liability, Noncurrent, Statement of Financial Position	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent

Investments and Forward Contr_3

Investments and Forward Contracts - Available for Sale Securities (Details) - USD ($) $ in Millions	Jan. 02, 2021	Jun. 27, 2020
Available-for-sale Debt Securities [Abstract]
Amortized Cost/ Carrying Cost	$ 0.9	$ 0.9
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(0.4)	(0.4)
Estimated fair value of securities	0.5	0.5
Asset-backed securities
Available-for-sale Debt Securities [Abstract]
Amortized Cost/ Carrying Cost	0.9	0.9
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(0.4)	(0.4)
Estimated fair value of securities	$ 0.5	$ 0.5

Investments and Forward Contr_4

Investments and Forward Contracts - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 02, 2021	Dec. 28, 2019	Jan. 02, 2021	Dec. 28, 2019	Jun. 27, 2020
Investments, Forward Contracts and Fair Value Measurements
Term of maturities of securities classified as current assets included in short-term investments			12 months
Estimated fair value of securities	$ 0.5		$ 0.5		$ 0.5
Foreign Currency Forward Contracts
Total assets	397.7		397.7		338.7
Total liabilities	10.4		$ 10.4		11.4
Not designated | Foreign exchange forward contracts
Foreign Currency Forward Contracts
Derivative asset, fair value					2.2
Derivative liability, fair value					1.5
Derivative, term of contract			120 days
Gains on derivatives	6.9	$ 4.8	$ 13.3	$ 2.2
Not designated | Foreign exchange forward contracts | Held to purchase
Foreign Currency Forward Contracts
Notional amount of forward contracts	142.4		142.4		146.4
Not designated | Foreign exchange forward contracts | Held to sell
Foreign Currency Forward Contracts
Notional amount of forward contracts	19		19		22
Other non-current assets
Investments, Forward Contracts and Fair Value Measurements
Estimated fair value of securities	0.5		0.5		0.5
Foreign Currency Forward Contracts
Total assets	5.1		5.1		4.5
Short-term investments
Investments, Forward Contracts and Fair Value Measurements
Deferred compensation plan assets	1.6		1.6		1.4
Foreign Currency Forward Contracts
Total assets	1.6		1.6		1.4
Prepayments and other current assets
Foreign Currency Forward Contracts
Total assets	8.4		8.4		2.2
Other current liabilities
Foreign Currency Forward Contracts
Total liabilities	1.5		1.5		1.5
Debt Securities | Short-term investments
Investments, Forward Contracts and Fair Value Measurements
Deferred compensation plan assets	0.4		0.4		0.3
Money market instruments and funds | Short-term investments
Investments, Forward Contracts and Fair Value Measurements
Deferred compensation plan assets	0.2		0.2		0.2
Equity Securities | Short-term investments
Investments, Forward Contracts and Fair Value Measurements
Deferred compensation plan assets	$ 1		$ 1		$ 0.9

Investments and Forward Contr_5

Investments and Forward Contracts - Contractual Maturities of Debt Securities (Details) $ in Millions	Jan. 02, 2021USD ($)
Amortized Cost/ Carrying Cost
Amounts maturing in more than 5 years	$ 0.9
Total debt available-for-sale securities	0.9
Estimated Fair Value
Amounts maturing in more than 5 years	0.5
Total debt available-for-sale securities	$ 0.5

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	Jan. 02, 2021	Jun. 27, 2020
Business Acquisition [Line Items]
Contingent consideration liability	$ 8.9	$ 9.9

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Measurements (Details) - USD ($) $ in Millions	Jan. 02, 2021	Jun. 27, 2020
Assets:
Estimated fair value of securities	$ 0.5	$ 0.5
Money market funds	387.2	334.6
Trading securities	1.6	1.4
Foreign currency forward contracts	8.4	2.2
Total assets	397.7	338.7
Liability:
Foreign currency forward contracts	1.5	1.5
Fair value of contingent consideration	8.9	9.9
Total liabilities	10.4	11.4
Fair value of contingent consideration, noncurrent	6.9	9.4
Fair value of contingent consideration, current	2	0.5
Level 1
Assets:
Estimated fair value of securities	0	0
Money market funds	387.2	334.6
Trading securities	1.6	1.4
Foreign currency forward contracts	0	0
Total assets	388.8	336
Liability:
Foreign currency forward contracts	0	0
Fair value of contingent consideration	0	0
Total liabilities	0	0
Level 2
Assets:
Estimated fair value of securities	0.5	0.5
Money market funds	0	0
Trading securities	0	0
Foreign currency forward contracts	8.4	2.2
Total assets	8.9	2.7
Liability:
Foreign currency forward contracts	1.5	1.5
Fair value of contingent consideration	0	0
Total liabilities	1.5	1.5
Level 3
Assets:
Estimated fair value of securities	0	0
Money market funds	0	0
Trading securities	0	0
Foreign currency forward contracts	0	0
Total assets	0	0
Liability:
Foreign currency forward contracts	0	0
Fair value of contingent consideration	8.9	9.9
Total liabilities	8.9	9.9
Asset-backed securities
Assets:
Estimated fair value of securities	0.5	0.5
Asset-backed securities | Level 1
Assets:
Estimated fair value of securities	0	0
Asset-backed securities | Level 2
Assets:
Estimated fair value of securities	0.5	0.5
Asset-backed securities | Level 3
Assets:
Estimated fair value of securities	0	0
Prepayments and other current assets
Assets:
Total assets	8.4	2.2
Cash and cash equivalents
Assets:
Total assets	379.6	327.2
Short-term investments
Assets:
Total assets	1.6	1.4
Restricted cash
Assets:
Total assets	3	3.4
Other non-current assets
Assets:
Estimated fair value of securities	0.5	0.5
Total assets	5.1	4.5
Other current liabilities
Liability:
Total liabilities	$ 1.5	$ 1.5

Fair Value Measurements - Conti

Fair Value Measurements - Contingent Liability Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 02, 2021	Dec. 28, 2019	Jan. 02, 2021	Dec. 28, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value adjustment of contingent consideration liabilities			$ 1.5	$ 4.3
Currency translation adjustment	$ 0.5	$ 0	0.5	0
Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning period balance	9.9	40.1	9.9	38.4
Fair value adjustment of contingent consideration liabilities	(1.5)	(6)	(1.5)	(4.3)
Ending period balance	$ 8.9	$ 34.1	$ 8.9	$ 34.1

Goodwill (Details)

Goodwill (Details) $ in Millions	6 Months Ended
	Jan. 02, 2021USD ($)
Changes in goodwill
Balance at the beginning of the period	$ 381.4
Currency translation adjustments	14
Balance at the end of the period	395.4
Network Enablement
Changes in goodwill
Balance at the beginning of the period	334.9
Currency translation adjustments	13.6
Balance at the end of the period	348.5
Service Enablement
Changes in goodwill
Balance at the beginning of the period	4.3
Currency translation adjustments	0.4
Balance at the end of the period	4.7
Optical Security and Performance Products
Changes in goodwill
Balance at the beginning of the period	42.2
Currency translation adjustments	0
Balance at the end of the period	$ 42.2

Acquired Developed Technology_3

Acquired Developed Technology and Other Intangibles (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 02, 2021	Dec. 28, 2019	Jan. 02, 2021	Dec. 28, 2019	Jun. 27, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 685.8		$ 685.8		$ 667.5
Accumulated Amortization	(565)		(565)		(519.4)
Net	120.8		120.8		148.1
Cost of revenues	8.4	$ 8.4	16.6	$ 16.8
Operating expenses	8.1	8.8	16.6	17.5
Total amortization of intangible assets	16.5	$ 17.2	33.2	$ 34.3
Estimated future amortization expense
Remainder of 2021	32.9		32.9
2021	39.5		39.5
2022	25.4		25.4
2023	10.3		10.3
2024	5.7		5.7
Thereafter	7		7
Total amortization	120.8		120.8
Acquired developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	447.8		447.8		437.1
Accumulated Amortization	(364.9)		(364.9)		(341.6)
Net	82.9		82.9		95.5
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	200.4		200.4		194.7
Accumulated Amortization	(172.1)		(172.1)		(154.1)
Net	28.3		28.3		40.6
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	37.6		37.6		35.7
Accumulated Amortization	(28)		(28)		(23.7)
Net	$ 9.6		$ 9.6		$ 12

Debt - Carrying Amounts of the

Debt - Carrying Amounts of the Liability and Equity Components (Details) - USD ($) $ in Millions	Jan. 02, 2021	Jun. 27, 2020	May 29, 2018	Mar. 03, 2017
Carrying amounts of the liability and equity components:
Carrying amount of liability component	$ 612.4	$ 600.9
Convertible Notes
Carrying amounts of the liability and equity components:
Unamortized discount of liability component	(68.2)	(79.1)
Unamortized debt issuance cost	(4.4)	(5)
Carrying amount of liability component	612.4	600.9
Carrying amount of equity component	136.8	136.8
Convertible Notes | 1.00% Senior Convertible Notes
Carrying amounts of the liability and equity components:
Principal amount of notes	$ 460	460
Interest rate on senior convertible notes	1.00%			1.00%
Convertible Notes | 1.75% Senior Convertible Notes
Carrying amounts of the liability and equity components:
Principal amount of notes	$ 225	$ 225
Interest rate on senior convertible notes	1.75%		1.75%

Debt - Additional Information (

Debt - Additional Information (Details)	May 05, 2020USD ($)	May 29, 2018USD ($)	Mar. 03, 2017USD ($)	Mar. 22, 2017USD ($)	Jan. 02, 2021USD ($)	Jun. 27, 2020USD ($)
1.75% Senior Convertible Notes | Convertible Notes
Debt details
Interest rate on senior convertible notes		1.75%			1.75%
Aggregate principal amount of convertible debt		$ 225,000,000
Proceeds from convertible debt		$ 69,500,000
Effective discount rate		5.30%
Derivative, term of contract		5 years
Expected remaining term					2 years 4 months 24 days
Proceeds from debt, net of issuance costs		$ 67,300,000
Fair market value of convertible debt					$ 280,000,000	$ 251,400,000
1.75% Senior Convertible Notes | Convertible Notes | Exchange Transaction
Debt details
Debt issued		155,500,000
Repayments of debt		$ 151,500,000
1.00% Senior Convertible Notes | Convertible Notes
Debt details
Interest rate on senior convertible notes			1.00%		1.00%
Aggregate principal amount of convertible debt			$ 400,000,000	$ 60,000,000
Effective discount rate			4.80%
Derivative, term of contract			7 years
Expected remaining term					3 years 2 months 12 days
Proceeds from debt, net of issuance costs				$ 451,100,000
Fair market value of convertible debt					$ 595,600,000	$ 523,300,000
Revolving Credit Facility
Debt details
Maximum borrowing capacity	$ 300,000,000
Credit facility increase limit	$ 200,000,000
Net leverage ratio	1.50
Debt outstanding					$ 0
Minimum | Revolving Credit Facility
Debt details
Commitment fee	0.30%
Minimum | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility
Debt details
Basis spread on variable rate	1.75%
Minimum | Base Rate | Revolving Credit Facility
Debt details
Basis spread on variable rate	0.75%
Maximum | Revolving Credit Facility
Debt details
Commitment fee	0.40%
Maximum | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility
Debt details
Basis spread on variable rate	2.50%
Maximum | Base Rate | Revolving Credit Facility
Debt details
Basis spread on variable rate	1.50%

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 02, 2021	Dec. 28, 2019	Jan. 02, 2021	Dec. 28, 2019
Debt Disclosure [Abstract]
Interest expense-contractual interest	$ 2.4	$ 2.2	$ 4.7	$ 4.3
Amortization of debt issuance cost	0.5	0.4	1	0.7
Accretion of debt discount	$ 5.5	$ 5.2	$ 10.8	$ 10.3

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 02, 2021	Dec. 28, 2019	Jan. 02, 2021	Dec. 28, 2019
Leases [Abstract]
Operating lease cost	$ 3.4	$ 3.3	$ 6.8	$ 6.6
Weighted average remaining lease term	5 years		5 years
Weighted average discount rate	4.70%		4.70%
Cash paid for amounts included in the measurement of operating lease liabilities	$ 3.7	5.8	$ 8.1	9.2
Operating ROU assets obtained in exchange for new operating lease obligations	$ 1.9	$ 12.6	$ 3.5	$ 14.5

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet (Details) - USD ($) $ in Millions	Jan. 02, 2021	Jun. 27, 2020
Leases [Abstract]
Other non-current assets	$ 39.9
Total operating ROU assets	39.9
Other current liabilities	12.1	$ 11.7
Other non-current liabilities	25.7	28.1
Total operating lease liabilities	$ 37.8	$ 39.8

Leases - Future Minimum Operati

Leases - Future Minimum Operating Lease Payments (Details) - USD ($) $ in Millions	Jan. 02, 2021	Jun. 27, 2020
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remainder of 2021	$ 6
2022	11.8	$ 12.8
2023	7.2	10.2
2024	5.2	6
2025	4	4.6
Thereafter	7.9
Total lease payments	42.1	44.7
Less: Interest	(4.3)	(4.9)
Total operating lease liabilities	$ 37.8	$ 39.8

Leases - Prior Year Future Mini

Leases - Prior Year Future Minimum Operating Lease Payments (Details) - USD ($) $ in Millions	Jan. 02, 2021	Jun. 27, 2020
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2021	$ 11.8	$ 12.8
2022	7.2	10.2
2023	5.2	6
2024	4	4.6
2025		3.6
Thereafter		7.5
Total lease payments	42.1	44.7
Less: Interest	(4.3)	(4.9)
Total operating lease liabilities	$ 37.8	$ 39.8

Restructuring and Related Cha_3

Restructuring and Related Charges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 02, 2021	Dec. 28, 2019	Jan. 02, 2021	Dec. 28, 2019	Jun. 27, 2020
Summary of various restructuring plans
Balance at the beginning of the period			$ 6.5
Restructuring and related charges (benefits)	$ 0.2	$ (0.9)	(0.4)	$ (0.6)
Cash Settlements			(2.5)
Non-cash Settlements and Other Adjustments			0
Balance at the end of the period	3.6		3.6
Noncurrent restructuring accrual	3.6		3.6		$ 6.5
NSE, including AW Restructuring Plan
Summary of various restructuring plans
Balance at the beginning of the period			6.5
Restructuring and related charges (benefits)	0.2		(0.4)
Cash Settlements			(2.5)
Non-cash Settlements and Other Adjustments			0
Balance at the end of the period	$ 3.6		$ 3.6

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 02, 2021	Dec. 28, 2019	Jan. 02, 2021	Dec. 28, 2019	Jun. 27, 2020
Income Tax Disclosure [Abstract]
Income tax provision	$ 12.5	$ 9.9	$ 21.1	$ 18.2
Unrecognized tax benefits	48.4		48.4		$ 48.4
Interest and penalties accrued	$ 3.9		$ 3.9

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) shares in Millions	3 Months Ended		6 Months Ended
	Jan. 02, 2021	Dec. 28, 2019	Jan. 02, 2021	Dec. 28, 2019	Sep. 30, 2019
Class of Stock [Line Items]
Repurchase of common stock (in shares)	1.3		1.9
Repurchase of common stock	$ 17,100,000	$ 9,200,000	$ 23,800,000	$ 10,700,000
Common Stock
Class of Stock [Line Items]
Remaining authorization for future share repurchases	$ 131,800,000		$ 131,800,000
Share Repurchase Agreement September 2019 | Common Stock
Class of Stock [Line Items]
Authorized amount under stock repurchase program					$ 200,000,000
Share Repurchase Agreement February 2018 | Common Stock
Class of Stock [Line Items]
Authorized amount under stock repurchase program					$ 200,000,000

Stock-Based Compensation - Comp

Stock-Based Compensation - Compensation by Function (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 02, 2021	Dec. 28, 2019	Jan. 02, 2021	Dec. 28, 2019
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 9.9	$ 11.3	$ 22.4	$ 21.6
Cost of revenues
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	1.2	1	2.4	2
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	2.3	2	4.5	3.7
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total stock-based compensation	$ 6.4	$ 8.3	$ 15.5	$ 15.9

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) shares in Millions, $ in Millions	6 Months Ended
	Jan. 02, 2021	Dec. 28, 2019
Stock-Based Compensation
Stock-based compensation capitalized to inventory	$ 1.1	$ 1.2
Full Value Awards - Total
Stock-Based Compensation
Unrecognized stock-based compensation	$ 63.9
Full Value Awards - Total | Minimum
Stock-Based Compensation
Vesting period	1 year
Full Value Awards - Total | Maximum
Stock-Based Compensation
Vesting period	4 years
RSUs
Stock-Based Compensation
Granted (in shares)	2.7	3.1
Restricted Stock Units with Time Based Conditions
Stock-Based Compensation
Vesting period	3 years
Restricted Stock Units with Market and Performance Conditions
Stock-Based Compensation
Vesting period	3 years
Granted (in shares)	0.6	0.5
Aggregate grant-date fair value	$ 8.9	$ 7.7
Restricted Stock Units with Performance Conditions Over Target
Stock-Based Compensation
Granted (in shares)	0.1	0.2

Employee Pension and Other Be_3

Employee Pension and Other Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 02, 2021	Dec. 28, 2019	Jan. 02, 2021	Dec. 28, 2019
Employee Defined Benefit Plans
Employer contributions			$ 3.1
Components of the net periodic cost for the pension and benefits plans
Cash outlays expected during current fiscal year	$ 10.5		10.5
Pension Benefit Plans
Components of the net periodic cost for the pension and benefits plans
Service cost	0.1	$ 0.1	0.2	$ 0.2
Interest cost	0.3	0.5	0.6	0.9
Expected return on plan assets	(0.4)	(0.4)	(0.8)	(0.8)
Amortization of net actuarial losses	0.7	0.8	1.5	1.5
Net periodic benefit cost	$ 0.7	$ 1	1.5	$ 1.8
U.K. Plan
Employee Defined Benefit Plans
Employer contributions			1.3
Other Plans
Employee Defined Benefit Plans
Employer contributions			$ 1.8

Commitments and Contingencies_2

Commitments and Contingencies (Details) £ in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jan. 02, 2021USD ($)	Dec. 28, 2019USD ($)	Jan. 02, 2021USD ($)	Dec. 28, 2019USD ($)	Jan. 02, 2021GBP (£)	Jun. 27, 2020USD ($)	Jul. 02, 2016GBP (£)	Jun. 30, 2016GBP (£)
Loss Contingencies [Line Items]
Standby letters of credit	$ 7.6		$ 7.6
Warranty accrual	4.5		$ 4.5			$ 4.6
Product Warranties
Warranty Term for most products			3 years
Changes in warranty reserve
Balance as of beginning of period	9.6	$ 8.8	$ 9.4	$ 8.7
Provision for warranty	1.6	0.9	2	1.3
Utilization of reserve	(1.2)	(0.8)	(1.4)	(1.8)
Adjustments to pre-existing warranties (includes changes in estimates)	(0.4)	0.3	(0.4)	1
Balance as of the end of period	9.6	$ 9.2	9.6	$ 9.2
Performance bond
Loss Contingencies [Line Items]
Guarantee liabilities	0.9		0.9
Judicial ruling | Case related to amendment of pension for foreign subsidiary
Loss Contingencies [Line Items]
Loss contingency accrual	$ 8.8		$ 8.8		£ 6.5
Minimum | Judicial ruling | Case related to amendment of pension for foreign subsidiary
Loss Contingencies [Line Items]
Estimated liability (in pounds) | £								£ 5.7
Loss contingency accrual | £							£ 5.7
Maximum | Judicial ruling | Case related to amendment of pension for foreign subsidiary
Loss Contingencies [Line Items]
Estimated liability (in pounds) | £								£ 8.4

Operating Segments and Geogra_3

Operating Segments and Geographic Information - Information on Reportable Segments (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 02, 2021USD ($)	Dec. 28, 2019USD ($)	Jan. 02, 2021USD ($)segment	Dec. 28, 2019USD ($)
Information on reportable segments
Number of broad business categories (in segment) | segment			2
Total net revenue	$ 299.9	$ 313.7	$ 584.6	$ 613.5
Gross profit	$ 180.1	$ 189.5	$ 349.5	$ 363.9
Gross margin (as a percent)	60.10%	60.40%	59.80%	59.30%
Operating income	$ 42.3	$ 45	$ 73.6	$ 65.7
Operating margin (as a percent)	14.10%	14.30%	12.60%	10.70%
Other Items
Information on reportable segments
Total net revenue	$ 0	$ 0	$ 0	$ 0
Gross profit	(9.2)	(9.7)	(18.6)	(19.2)
Operating income	(24.5)	(22.9)	(53.8)	(54.9)
Network and Service Enablement | Segment Measures
Information on reportable segments
Total net revenue	206.7	234.2	390.2	454
Gross profit	$ 130.9	$ 155.6	$ 248.7	$ 296.2
Gross margin (as a percent)	63.30%	66.40%	63.70%	65.20%
Operating income	$ 22.2	$ 37.5	$ 35.5	$ 59.8
Operating margin (as a percent)	10.70%	16.00%	9.10%	13.20%
Network and Service Enablement | Network Enablement | Segment Measures
Information on reportable segments
Total net revenue	$ 180.9	$ 203	$ 343	$ 401.9
Gross profit	$ 113.3	$ 134.8	$ 216.8	$ 262.8
Gross margin (as a percent)	62.60%	66.40%	63.20%	65.40%
Network and Service Enablement | Service Enablement | Segment Measures
Information on reportable segments
Total net revenue	$ 25.8	$ 31.2	$ 47.2	$ 52.1
Gross profit	$ 17.6	$ 20.8	$ 31.9	$ 33.4
Gross margin (as a percent)	68.20%	66.70%	67.60%	64.10%
Optical Security and Performance Products | Segment Measures
Information on reportable segments
Total net revenue	$ 93.2	$ 79.5	$ 194.4	$ 159.5
Gross profit	$ 58.4	$ 43.6	$ 119.4	$ 86.9
Gross margin (as a percent)	62.70%	54.80%	61.40%	54.50%
Operating income	$ 44.6	$ 30.4	$ 91.9	$ 60.8
Operating margin (as a percent)	47.90%	38.20%	47.30%	38.10%
Product revenue
Information on reportable segments
Total net revenue	$ 262.1	$ 281.9	$ 510	$ 546.7
Product revenue | Other Items
Information on reportable segments
Total net revenue	0	0	0	0
Product revenue | Network and Service Enablement | Segment Measures
Information on reportable segments
Total net revenue	169.3	202.5	316.2	387.5
Product revenue | Network and Service Enablement | Network Enablement | Segment Measures
Information on reportable segments
Total net revenue	156.4	183.9	295.6	361.2
Product revenue | Network and Service Enablement | Service Enablement | Segment Measures
Information on reportable segments
Total net revenue	12.9	18.6	20.6	26.3
Product revenue | Optical Security and Performance Products | Segment Measures
Information on reportable segments
Total net revenue	92.8	79.4	193.8	159.2
Service revenue
Information on reportable segments
Total net revenue	37.8	31.8	74.6	66.8
Service revenue | Other Items
Information on reportable segments
Total net revenue	0	0	0	0
Service revenue | Network and Service Enablement | Segment Measures
Information on reportable segments
Total net revenue	37.4	31.7	74	66.5
Service revenue | Network and Service Enablement | Network Enablement | Segment Measures
Information on reportable segments
Total net revenue	24.5	19.1	47.4	40.7
Service revenue | Network and Service Enablement | Service Enablement | Segment Measures
Information on reportable segments
Total net revenue	12.9	12.6	26.6	25.8
Service revenue | Optical Security and Performance Products | Segment Measures
Information on reportable segments
Total net revenue	$ 0.4	$ 0.1	$ 0.6	$ 0.3

Operating Segments and Geogra_4

Operating Segments and Geographic Information - Segment Reconciling Items (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 02, 2021	Dec. 28, 2019	Jan. 02, 2021	Dec. 28, 2019
Information on reportable segments
Gross profit	$ 180.1	$ 189.5	$ 349.5	$ 363.9
Income from operations	42.3	45	73.6	65.7
Stock-based compensation	(9.9)	(11.3)	(22.4)	(21.6)
Amortization of intangibles	(8.1)	(8.8)	(16.6)	(17.5)
Change in fair value of contingent liability			1.5	4.3
Restructuring and related (benefits) charges	(0.2)	0.9	0.4	0.6
Other Items
Information on reportable segments
Gross profit	(9.2)	(9.7)	(18.6)	(19.2)
Income from operations	(24.5)	(22.9)	(53.8)	(54.9)
Gross Profit
Information on reportable segments
Gross profit	180.1	189.5	349.5	363.9
Gross Profit | Segment Measures
Information on reportable segments
Gross profit	189.3	199.2	368.1	383.1
Gross Profit | Other Items
Information on reportable segments
Stock-based compensation	(1.2)	(1)	(2.4)	(2)
Amortization of intangibles	(8.4)	(8.4)	(16.6)	(16.8)
Other charges unrelated to core operating performance	0.4	(0.3)	0.4	(0.4)
Operating Income (Loss)
Information on reportable segments
Restructuring and related (benefits) charges	(0.2)	0.9
Operating Income (Loss) | Segment Measures
Information on reportable segments
Income from operations	66.8	67.9	127.4	120.6
Operating Income (Loss) | Other Items
Information on reportable segments
Stock-based compensation	(9.9)	(11.3)	(22.4)	(21.6)
Amortization of intangibles	(16.5)	(17.2)	(33.2)	(34.3)
Change in fair value of contingent liability	1.5	6	1.5	4.3
Other charges unrelated to core operating performance	$ 0.6	$ (1.3)	(0.1)	(3.9)
Restructuring and related (benefits) charges			$ (0.4)	$ (0.6)

Operating Segments and Geogra_5

Operating Segments and Geographic Information - Revenue by Geographic Area (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jan. 02, 2021USD ($)region	Dec. 28, 2019USD ($)	Jan. 02, 2021USD ($)region	Dec. 28, 2019USD ($)
Information on reportable segments
Number of geographic regions | region	3		3
Total net revenue	$ 299.9	$ 313.7	$ 584.6	$ 613.5
Product revenue
Information on reportable segments
Total net revenue	262.1	281.9	510	546.7
Service revenue
Information on reportable segments
Total net revenue	37.8	31.8	74.6	66.8
United States
Information on reportable segments
Total net revenue	88.6	96.2	166.4	181.2
United States | Product revenue
Information on reportable segments
Total net revenue	74.4	83.1	138.1	154.5
United States | Service revenue
Information on reportable segments
Total net revenue	14.2	13.1	28.3	26.7
Other Americas
Information on reportable segments
Total net revenue	19.8	20.6	37.4	41.3
Other Americas | Product revenue
Information on reportable segments
Total net revenue	16	17.2	30.3	33.8
Other Americas | Service revenue
Information on reportable segments
Total net revenue	3.8	3.4	7.1	7.5
Total Americas
Information on reportable segments
Total net revenue	108.4	116.8	203.8	222.5
Total Americas | Product revenue
Information on reportable segments
Total net revenue	90.4	100.3	168.4	188.3
Total Americas | Service revenue
Information on reportable segments
Total net revenue	18	16.5	35.4	34.2
Greater China
Information on reportable segments
Total net revenue	73.2	80.5	152.2	152.4
Greater China | Product revenue
Information on reportable segments
Total net revenue	69.9	78.4	147.2	148.9
Greater China | Service revenue
Information on reportable segments
Total net revenue	3.3	2.1	5	3.5
Other Asia-Pacific
Information on reportable segments
Total net revenue	23.2	32.5	52.4	67.8
Other Asia-Pacific | Product revenue
Information on reportable segments
Total net revenue	20	28.7	45.4	60
Other Asia-Pacific | Service revenue
Information on reportable segments
Total net revenue	3.2	3.8	7	7.8
Total Asia-Pacific
Information on reportable segments
Total net revenue	96.4	113	204.6	220.2
Total Asia-Pacific | Product revenue
Information on reportable segments
Total net revenue	89.9	107.1	192.6	208.9
Total Asia-Pacific | Service revenue
Information on reportable segments
Total net revenue	6.5	5.9	12	11.3
Switzerland
Information on reportable segments
Total net revenue	19.9	13.5	37.9	25.7
Switzerland | Product revenue
Information on reportable segments
Total net revenue	19.8	13.4	37.7	25.6
Switzerland | Service revenue
Information on reportable segments
Total net revenue	0.1	0.1	0.2	0.1
Other EMEA
Information on reportable segments
Total net revenue	75.2	70.4	138.3	145.1
Other EMEA | Product revenue
Information on reportable segments
Total net revenue	62	61.1	111.3	123.9
Other EMEA | Service revenue
Information on reportable segments
Total net revenue	13.2	9.3	27	21.2
Total EMEA
Information on reportable segments
Total net revenue	95.1	83.9	176.2	170.8
Total EMEA | Product revenue
Information on reportable segments
Total net revenue	81.8	74.5	149	149.5
Total EMEA | Service revenue
Information on reportable segments
Total net revenue	$ 13.3	$ 9.4	$ 27.2	$ 21.3