Goodwill

12 Months Ended

Jul. 02, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Note 9. Goodwill

Changes in the carry value of goodwill allocated segment are as follows (in millions):

	Network Enablement		Service Enablement		Optical Security and Performance Products		Total
Balance as of June 27, 2020(1)	$	334.9	$	4.3	$	42.2	$	381.4
Currency translation	14.8		0.3		—		15.1
Balance as of July 3, 2021(2)	$	349.7	$	4.6	$	42.2	$	396.5
Currency translation and other adjustments	(18.1)		(0.8)		—		(18.9)
Acquisitions(3)	—		10.0		—		10.0
Balance as of July 2, 2022(4)	$	331.6	$	13.8	$	42.2	$	387.6

(1) Gross goodwill balances for NE, SE and OSP were $636.8 million, $276.9 million and $126.7 million, respectively as of June 27, 2020. Accumulated impairment for NE, SE and OSP was $301.9 million, $272.6 million and $84.5 million, respectively as of June 27, 2020.

(2) Gross goodwill balances for NE, SE and OSP were $651.6 million, $277.2 million and $126.7 million, respectively as of July 3, 2021. Accumulated impairment for NE, SE and OSP was $301.9 million, $272.6 million and $84.5 million, respectively as of July 3, 2021.

(3) See “Note 5. Acquisitions” of the Notes to Consolidated Financial Statement for additional information related to the Company’s acquisitions.

(4) Gross goodwill balances for NE, SE and OSP were $633.5 million, $286.3 million and $126.7 million, respectively as of July 2, 2022. Accumulated impairment for NE, SE and OSP was $301.9 million, $272.5 million and $84.5 million, respectively as of July 2, 2022.

Impairment of Goodwill

The Company tests goodwill at the reporting unit level for impairment annually, during the fourth quarter of each fiscal year, or more frequently if events or circumstances indicate that the asset may be impaired. The Company determined that, based on its organizational structure and the financial information that is provided to and reviewed by the Company’s Chief Operating Decision Maker (CODM) during fiscal 2022, 2021 and 2020 that its reporting units were NE, SE and OSP.

No indications of impairment were identified for fiscal years ending on July 2, 2022, July 3, 2021 and June 27, 2020.