Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Sep. 30, 2023

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss), net of tax, were as follows for the periods as presented (in millions):

	Foreign Currency Translation Adjustments, Net of Tax (1)		Defined Benefit Obligations, Net of Tax (2)		Unrealized Gain (Loss) on Available-for-Sale Securities, Net of Tax (3)		Total
Beginning balance as of July 1, 2023	$	10.4	$	(0.4)	$	(5.9)	$	4.1
Other comprehensive gain (loss), net	(0.2)		—		1.3		1.1
Ending balance as of September 30, 2023	$	10.2	$	(0.4)	$	(4.6)	$	5.2
	Foreign Currency Translation Adjustments, Net of Tax (1)		Defined Benefit Obligations, Net of Tax (2)		Unrealized Gain (Loss) on Available-for-Sale Securities, Net of Tax (3)		Total
Beginning balance as of July 2, 2022	$	9.7	$	1.0	$	(10.3)	$	0.4
Other comprehensive loss, net	—		—		(0.6)		(0.6)
Ending balance as of October 1, 2022	$	9.7	$	1.0	$	(10.9)	$	(0.2)

(1) In fiscal 2019, we established the functional currency for our worldwide operations as the U.S. dollar. Translation adjustments reported prior to December 10, 2018 remain as a component of accumulated other comprehensive income (loss) in our condensed consolidated balance sheets, until all or a part of the investment in the subsidiaries is sold or liquidated. In fiscal 2023, we acquired IPG telecom transmission product lines. The functional currency of the Brazilian entities acquired as part of this acquisition is the local currency. During the three months ended September 30, 2023, we recorded foreign currency translation adjustments of $0.2 million.

(2) We re-evaluate the assumptions related to the fair value of our defined benefit obligations annually in the fiscal fourth quarter and make any updates as necessary.

(3) For the three months ended September 30, 2023 and October 1, 2022, our unrealized loss on available-for-sale securities is presented net of tax of $0.4 million and $0.2 million, respectively.