Recently Issued Accounting Pronouncements (Tables)

12 Months Ended

Jul. 01, 2023

Accounting Standards Update and Change in Accounting Principle

The following table presents the impact of the standard adoption to select line items of the Consolidated Balance Sheet as of July 3, 2021 (in millions):


	July 3, 2021
	As Reported		Adjustment		As Adjusted
LIABILITIES AND STOCKHOLDERS’ EQUITY
Short-term debt	$	414.2	$	42.4	$	456.6
Long-term debt	209.8		14.3		224.1
Mezzanine equity - Senior Convertible Notes	45.8		(45.8)		—
Additional paid-in capital	70,265.5		(82.3)		70,183.2
Accumulated deficit	$	(69,393.7)	$	71.4	$	(69,322.3)

The following table presents the impact of the standard adoption to select line items of the Consolidated Statement of Operations for the year ended July 3, 2021 (in millions, except per-share data):


	Year Ended July 3, 2021
	As Reported		Adjustment		As Adjusted
Interest Expense	$	(36.1)	$	21.4	$	(14.7)
Net income	$	46.1	$	21.4	$	67.5

Net income per share:
Basic	$	0.20	$	0.10	$	0.30
Diluted	$	0.20	$	0.09	$	0.29

Shares used in per-share calculation:
Basic	228.7		—		228.7
Diluted	235.9		0.4		236.3