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Operating Segments and Geographic Information (Tables)
9 Months Ended
Apr. 03, 2021
Segment Reporting [Abstract]  
Schedule of information on reportable segments
Information on reportable segments utilized by our CODM is as follows (in millions):
Three Months EndedNine Months Ended
April 3, 2021March 28, 2020April 3, 2021March 28, 2020
Net revenue:
OpComms
$387.9 $359.3 $1,265.5 $1,184.8 
Lasers
31.6 43.5 85.2 125.7 
Net revenue
$419.5 $402.8 $1,350.7 $1,310.5 
Gross profit:
OpComms
$194.3 $161.8 $660.9 $550.1 
Lasers
14.9 21.6 39.4 56.2 
Total segment gross profit
209.2 183.4 700.3 606.3 
Unallocated corporate items:
Stock-based compensation
(5.3)(4.3)(13.8)(12.6)
Amortization of acquired intangibles
(15.8)(13.9)(45.8)(38.8)
Amortization of inventory fair value adjustments— (1.5)— (5.8)
Inventory and fixed asset write down due to product line exits— (2.3)(0.4)(6.0)
Integration related costs
— 0.3 — (3.1)
Other charges (1)
(3.1)(4.0)(20.0)(25.5)
Gross profit
$185.0 $157.7 $620.3 $514.5 
(1) “Other charges” of unallocated corporate items for the three and nine months ended April 3, 2021 include costs of transferring product lines to new production facilities, including Thailand of $1.4 million and $6.5 million, respectively. We also incurred excess and obsolete inventory charges driven by U.S. trade restrictions and the related decline in demand from Huawei of $1.0 million and $7.7 million during the three and nine months ended April 3, 2021, respectively. Our excess and obsolete inventory charges related to Huawei were offset by $2.1 million of sale of inventory previously written down during the three and nine months ended April 3, 2021. During the nine months ended April 3, 2021, there was also a $5.0 million impairment charge associated with excess capacity related to our Fiber laser business.
Schedule of concentration risks
The table below discloses our total net revenue attributable to each of our two reportable segments. In addition, the table sets forth the percentage of our total net revenue attributable to our product offerings which serve Telecom and Datacom, and Consumer and Industrial markets which accounted for 10% or more of our total net revenue during the periods presented (in millions, except percentage data):
 Three Months EndedNine Months Ended
 April 3, 2021March 28, 2020April 3, 2021March 28, 2020
OpComms:
Telecom and Datacom
$255.8 61.0 %$251.0 62.3 %$803.3 59.5 %$765.4 58.4 %
Consumer and Industrial
132.1 31.5 108.3 26.9 462.2 34.2 419.4 32.0 
Total OpComms$387.9 92.5 %$359.3 89.2 %$1,265.5 93.7 %$1,184.8 90.4 %
Lasers31.6 7.5 43.5 10.8 85.2 6.3 125.7 9.6 
Total Revenue$419.5 $402.8 $1,350.7 $1,310.5 
Schedule of revenue by geographic region The following table presents net revenue by the three geographic regions we operate in and net revenue from countries that represented 10% or more of our total net revenue (in millions, except percentage data):
 Three Months EndedNine Months Ended
 April 3, 2021March 28, 2020April 3, 2021March 28, 2020
Net revenue:Amount% of TotalAmount% of TotalAmount% of TotalAmount% of Total
Americas:
United States
$38.2 9.1 %$38.6 9.6 %$98.2 7.3 %$118.9 9.1 %
Mexico
16.3 3.9 33.2 8.2 107.4 8.0 88.3 6.7 
Other Americas
3.7 0.9 1.4 0.3 10.5 0.7 3.2 0.3 
Total Americas
$58.2 13.9 %$73.2 18.1 %$216.1 16.0 %$210.4 16.1 %
Asia-Pacific:
Hong Kong
$134.2 32.0 %$125.9 31.3 %$426.6 31.6 %$404.2 30.8 %
Philippines
30.9 7.4 14.3 3.6 134.3 9.9 44.1 3.4 
South Korea
63.3 15.1 63.3 15.7 185.3 13.7 239.9 18.3 
Other Asia-Pacific
96.6 22.9 98.7 24.5 282.2 20.9 315.1 24.0 
Total Asia-Pacific
$325.0 77.4 %$302.2 75.1 %$1,028.4 76.1 %$1,003.3 76.5 %
EMEA$36.3 8.7 %$27.4 6.8 %$106.2 7.9 %$96.8 7.4 %
Total net revenue
$419.5 $402.8 $1,350.7 $1,310.5 
Schedule of estimated revenue expected to be recognized in the future related to performance obligations
The following table includes estimated revenue expected to be recognized in the future for backlog related performance obligations that are unsatisfied as of April 3, 2021 (in millions):
 Less than 1 year1-2 yearsGreater than 2 yearsTotal
Performance obligations$415.2$11.4$—$426.6
Schedule of changes in contract balances
The following table reflects the changes in contract balances as of April 3, 2021 (in millions, except percentages):
Contract balancesBalance sheet locationApril 3, 2021June 27, 2020ChangePercentage Change
Accounts receivable, net Accounts receivable, net $224.8$233.5$(8.7)(3.7)%
Deferred revenue and customer deposits
Other current liabilities
$1.8$1.9$(0.1)(5.3)%
Schedule of long-lived assets by geographic region
Long-lived assets, namely property, plant and equipment, net, were identified based on the physical location of the assets in the corresponding geographic areas as of the periods indicated (in millions):
April 3, 2021June 27, 2020
Property, plant and equipment, net
United States
$135.5 $139.1 
Thailand
107.7 122.6 
China
40.7 43.2 
Japan
34.4 32.3 
Other countries
59.7 55.8 
Total property, plant and equipment, net$378.0 $393.0