$LITE
Lumentum Holdings Inc.

2021 Q2 Form 10-Q Financial Statement

#000163397821000009 Filed on May 12, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q1 2019 Q4
Revenue $419.5M $402.8M $457.8M
YoY Change 13.96% -6.95% 22.5%
Cost Of Revenue $234.5M $245.1M $268.7M
YoY Change 0.9% -22.56% 9.9%
Gross Profit $185.0M $157.7M $189.1M
YoY Change 36.33% 78.6% 51.52%
Gross Profit Margin 44.1% 39.15% 41.31%
Selling, General & Admin $59.30M $61.30M $62.40M
YoY Change 8.21% 11.05% -0.48%
% of Gross Profit 32.05% 38.87% 33.0%
Research & Development $57.20M $48.70M $51.00M
YoY Change 16.73% -15.6% 19.16%
% of Gross Profit 30.92% 30.88% 26.97%
Depreciation & Amortization $44.80M $27.50M $28.70M
YoY Change -4.07% -5.17% 10.38%
% of Gross Profit 24.22% 17.44% 15.18%
Operating Expenses $122.7M $115.2M $114.3M
YoY Change 12.88% -30.05% 0.88%
Operating Profit $62.30M $42.50M $74.80M
YoY Change 130.74% -155.63% 550.43%
Interest Expense -$14.10M $15.60M $18.30M
YoY Change -188.68% 38.05% 115.29%
% of Operating Profit -22.63% 36.71% 24.47%
Other Income/Expense, Net $100.0K $21.70M $1.200M
YoY Change -97.14% 317.31% -68.42%
Pretax Income $252.9M $48.60M $57.70M
YoY Change 1632.19% -158.91% 225.99%
Income Tax $27.40M $5.200M $8.600M
% Of Pretax Income 10.83% 10.7% 14.9%
Net Earnings $225.5M $43.40M $49.10M
YoY Change -5002.17% -158.41% 201.23%
Net Earnings / Revenue 53.75% 10.77% 10.73%
Basic Earnings Per Share $0.58 $0.64
Diluted Earnings Per Share $2.847M $0.56 $0.63
COMMON SHARES
Basic Shares Outstanding 75.90M shares 74.80M shares 76.80M shares
Diluted Shares Outstanding 77.50M shares 78.00M shares

Balance Sheet

Concept 2021 Q2 2020 Q1 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.055B $1.451B $1.316B
YoY Change 32.23% 108.09% 92.31%
Cash & Equivalents $687.7M $688.3M $1.085B
Short-Term Investments $1.367B $763.1M $230.6M
Other Short-Term Assets $79.70M $35.80M $44.20M
YoY Change 7.99% -69.84% -57.13%
Inventory $210.7M $172.7M $179.6M
Prepaid Expenses $29.70M $30.90M
Receivables $224.8M $261.8M $292.0M
Other Receivables $0.00 $41.30M $51.60M
Total Short-Term Assets $2.570B $1.963B $1.883B
YoY Change 25.36% 38.42% 38.77%
LONG-TERM ASSETS
Property, Plant & Equipment $448.3M $491.8M $505.7M
YoY Change -4.96% 25.91% 13.72%
Goodwill $368.9M $368.9M $368.9M
YoY Change 0.0% 2.53% 7.02%
Intangibles $263.2M $338.0M $358.0M
YoY Change -16.92% -18.02% -19.55%
Long-Term Investments
YoY Change
Other Assets $5.800M $4.300M $4.500M
YoY Change 45.0% -76.63% -78.57%
Total Long-Term Assets $1.176B $1.306B $1.338B
YoY Change -5.35% -3.52% -7.05%
TOTAL ASSETS
Total Short-Term Assets $2.570B $1.963B $1.883B
Total Long-Term Assets $1.176B $1.306B $1.338B
Total Assets $3.746B $3.269B $3.221B
YoY Change 13.77% 17.94% 15.18%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $104.7M $144.6M $143.7M
YoY Change -30.57% -29.15% -27.86%
Accrued Expenses $39.50M $32.90M $37.20M
YoY Change 66.67% -39.52% -20.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $385.4M $3.900M $7.100M
YoY Change 64133.33% -32.76% -18.39%
Total Short-Term Liabilities $674.2M $286.7M $304.2M
YoY Change 138.23% -19.92% -6.54%
LONG-TERM LIABILITIES
Long-Term Debt $778.9M $1.106B $1.092B
YoY Change -30.47% 32.88% 31.72%
Other Long-Term Liabilities $45.70M $33.70M $33.00M
YoY Change 26.94% 57.48% 24.06%
Total Long-Term Liabilities $45.70M $33.70M $33.00M
YoY Change 26.94% 57.48% 24.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $674.2M $286.7M $304.2M
Total Long-Term Liabilities $45.70M $33.70M $33.00M
Total Liabilities $1.581B $1.535B $1.540B
YoY Change 2.43% 21.07% 24.47%
SHAREHOLDERS EQUITY
Retained Earnings $440.4M $69.20M $25.80M
YoY Change 581.73% -55.33% -88.74%
Common Stock $100.0K $100.0K $100.0K
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.165B $1.734B $1.682B
YoY Change
Total Liabilities & Shareholders Equity $3.746B $3.269B $3.221B
YoY Change 13.77% 17.94% 15.18%

Cashflow Statement

Concept 2021 Q2 2020 Q1 2019 Q4
OPERATING ACTIVITIES
Net Income $225.5M $43.40M $49.10M
YoY Change -5002.17% -158.41% 201.23%
Depreciation, Depletion And Amortization $44.80M $27.50M $28.70M
YoY Change -4.07% -5.17% 10.38%
Cash From Operating Activities $381.3M $151.8M $162.3M
YoY Change 210.76% 254.67% 58.5%
INVESTING ACTIVITIES
Capital Expenditures -$15.90M -$18.50M -$27.70M
YoY Change -24.64% -31.99% 13.99%
Acquisitions
YoY Change
Other Investing Activities $8.600M -$517.2M $63.80M
YoY Change -101.76% 1912.45% -109.7%
Cash From Investing Activities -$7.300M -$535.7M $36.10M
YoY Change -98.57% 912.67% -105.29%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $200.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.600M -12.30M 347.6M
YoY Change 105.41% 324.14% -29.29%
NET CHANGE
Cash From Operating Activities 381.3M 151.8M 162.3M
Cash From Investing Activities -7.300M -535.7M 36.10M
Cash From Financing Activities -7.600M -12.30M 347.6M
Net Change In Cash 366.4M -396.2M 546.0M
YoY Change -193.76% 2947.69% -721.16%
FREE CASH FLOW
Cash From Operating Activities $381.3M $151.8M $162.3M
Capital Expenditures -$15.90M -$18.50M -$27.70M
Free Cash Flow $397.2M $170.3M $190.0M
YoY Change 176.22% 143.29% 49.96%

Facts In Submission

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CY2020Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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CY2020Q3 us-gaap Stockholders Equity
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CY2020Q4 lite Stock Issued During Period Value Sharebased Compensation Net Of Taxes
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CY2020Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2020Q4 us-gaap Stockholders Equity
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us-gaap Net Income Loss
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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25400000 USD
CY2021Q2 us-gaap Stockholders Equity
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CY2019Q2 us-gaap Stockholders Equity
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CY2019Q3 us-gaap Net Income Loss
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47600000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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100000 USD
CY2019Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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16500000 USD
CY2019Q3 us-gaap Stockholders Equity
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CY2019Q4 us-gaap Net Income Loss
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49100000 USD
CY2019Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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CY2019Q4 us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
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245900000 USD
CY2019Q4 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
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4900000 USD
CY2019Q4 us-gaap Stock Repurchased During Period Value
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CY2019Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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20300000 USD
CY2019Q4 us-gaap Stockholders Equity
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1681600000 USD
CY2020Q1 us-gaap Net Income Loss
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CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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-1200000 USD
CY2020Q1 lite Stock Issued During Period Value Sharebased Compensation Net Of Taxes
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CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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18800000 USD
CY2020Q1 us-gaap Stockholders Equity
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1734200000 USD
us-gaap Net Income Loss
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375800000 USD
us-gaap Net Income Loss
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140100000 USD
us-gaap Depreciation
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70400000 USD
us-gaap Depreciation
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87800000 USD
us-gaap Share Based Compensation
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68700000 USD
us-gaap Share Based Compensation
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56100000 USD
us-gaap Gains Losses On Extinguishment Of Debt
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0 USD
us-gaap Gains Losses On Extinguishment Of Debt
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-8000000.0 USD
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
500000 USD
us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
13800000 USD
us-gaap Amortization Of Intangible Assets
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63600000 USD
us-gaap Amortization Of Intangible Assets
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57400000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-5400000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-8900000 USD
us-gaap Amortization Of Debt Discount Premium
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43900000 USD
us-gaap Amortization Of Debt Discount Premium
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25300000 USD
us-gaap Business Combination Provisional Information Initial Accounting Incomplete Adjustment Inventory
BusinessCombinationProvisionalInformationInitialAccountingIncompleteAdjustmentInventory
0 USD
us-gaap Business Combination Provisional Information Initial Accounting Incomplete Adjustment Inventory
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5800000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-7300000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
2700000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-8200000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
23800000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
20200000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-48300000 USD
lite Operating Lease Rightof Use Asset Increase Decrease
OperatingLeaseRightofUseAssetIncreaseDecrease
-8400000 USD
lite Operating Lease Rightof Use Asset Increase Decrease
OperatingLeaseRightofUseAssetIncreaseDecrease
-9600000 USD
us-gaap Increase Decrease In Other Operating Assets
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5600000 USD
us-gaap Increase Decrease In Other Operating Assets
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-16500000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-28200000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-13000000.0 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-41600000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-15300000 USD
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-7500000 USD
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
8600000 USD
lite Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
6100000 USD
lite Increase Decrease In Operating Lease Liabilities
IncreaseDecreaseInOperatingLeaseLiabilities
10400000 USD
us-gaap Increase Decrease In Other Accrued Liabilities
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16100000 USD
us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
-17800000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
614500000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
401600000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
66400000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
64900000 USD
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
10000000.0 USD
us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
4000000.0 USD
us-gaap Proceeds From Sale Of Productive Assets
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1300000 USD
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
18900000 USD
us-gaap Payments To Acquire Short Term Investments
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1515700000 USD
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
692800000 USD
us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
1394500000 USD
us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
264900000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-196300000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-477900000 USD
us-gaap Payments For Repurchase Of Common Stock
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0 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
200000000.0 USD
us-gaap Proceeds From Convertible Debt
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0 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
1042400000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
33800000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
8600000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
5500000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
4900000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
400000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
9200000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
200000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
500000 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
0 USD
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
497500000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-28500000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
332500000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
389700000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
256200000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
298000000.0 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
432600000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
687700000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
688800000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
687700000 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
688300000 USD
CY2021Q2 us-gaap Restricted Cash
RestrictedCash
0 USD
CY2020Q1 us-gaap Restricted Cash
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500000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
687700000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
688800000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
30900000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
6600000 USD
us-gaap Interest Paid Net
InterestPaidNet
3800000 USD
us-gaap Interest Paid Net
InterestPaidNet
10700000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
6700000 USD
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
11700000 USD
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
800000 shares
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
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0 USD
us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
200000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1400000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2200000 USD
CY2021Q1 lite Proceeds From Contract Termination
ProceedsFromContractTermination
217600000 USD
us-gaap Fiscal Period
FiscalPeriod
<div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:22.5pt"><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Fiscal Years</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We utilize a 52-53 week fiscal year ending on the Saturday closest to June 30th. Every fifth or sixth fiscal year will have a 53-week period. The additional week in a 53-week year is added to the third quarter, making such quarter consist of 14 weeks. Our fiscal 2021 is a 53-week year ending on July 3, 2021, with the quarter ended April 3, 2021 being a 14-week quarterly period. Our fiscal 2020 was a 52-week year that ended on June 27, 2020, with the quarter ended March 28, 2020 being a 13-week quarterly period.</span></div>
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="margin-bottom:8pt;margin-top:8pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Note 2. Recently Issued Accounting Pronouncements</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Accounting Pronouncements Recently Adopted</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-13, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">ASU 2018-13 modifies the disclosure requirements on transfers between Level 1 and Level 2, valuation processes of Level 3 fair value measurements, and the categorization by level for items that are not measured at fair value, but for which the fair value is required to be disclosed. We adopted ASU 2018-13 in the first quarter of fiscal 2021 with no impact to our condensed consolidated financial statements.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2018, FASB issued ASU 2018-15,</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> This standard requires capitalization of the implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. Further, the standard also requires the Company to expense the capitalized implementation costs of a hosting arrangement over the term of the hosting arrangement. We adopted ASU 2018-15 in the first quarter of fiscal 2021 with no impact to our condensed consolidated financial statements.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In June 2016, FASB issued ASU 2016-13, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">and a subsequent amendment, ASU 2018-19 (collectively, Topic 326). Topic 326 requires measurement and recognition of expected credit losses for financial assets held. We adopted ASU 2016-13 using the modified-retrospective approach in the first quarter of fiscal 2021 with no material impact to our condensed consolidated financial statements.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With the adoption of Topic 326, we are now assessing whether unrealized losses have resulted from a credit loss or other factors. We believe none of our unrealized losses on available-for-sale investments were other-than temporary or were attributable to credit losses as of April 3, 2021 and June 27, 2020. We review our available-for-sale investments on a quarterly basis to identify a potential other-than-temporary impairment. The investments with unrealized losses consisted primarily of corporate debt securities, and given the extent of the unrealized loss positions, the issuers' high credit ratings and the near-term market conditions, we believe our unrealized losses are temporary. We also do not have an intent to sell our investments and would not be required to sell them before they recover.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The adoption of Topic 326 did not significantly change our approach to the valuation of trade receivables. We determine whether there is an expected loss on our accounts receivable by reviewing all available data, including our customers' latest available financial statements, their credit standing and historical collection experience, as well as current and future market and economic conditions. As of April 3, 2021 and June 27, 2020, the allowance for credit losses on our trade receivables was </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$1.8 million and $1.8 million, respectively.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Accounting Pronouncements Not Yet Effective</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2020, FASB issued ASU 2020-06, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, which simplifies the accounting for convertible instruments by removing the separation models for (1) convertible debt with a cash conversion feature and (2) convertible instruments with a beneficial conversion feature. As a result, a convertible debt instrument will be accounted for as a single liability measured at its amortized cost. Also, ASU 2020-06 requires the application of the if-converted method for calculating diluted earnings per share and the treasury stock method will be no longer available. The new guidance is effective for fiscal years beginning after December 15, 2021, with early adoption permitted no earlier than fiscal years beginning after December 15, 2020. ASU 2020-06 is effective for us in our first quarter of fiscal year 2023. We are currently evaluating the impact of ASU 2020-06 on our condensed consolidated financial statements.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In December 2019, FASB issued ASU 2019-12, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Simplifying the Accounting for Income Taxes (Topic 740), </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">which is intended to simplify various aspects related to accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and which also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for us at the beginning of fiscal year 2022, including interim periods within that reporting period, although early adoption is permitted. We are currently evaluating the impact of ASU 2019-12 on our condensed consolidated financial statements. </span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:justify;text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In August 2018, FASB issued ASU 2018-14, </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Compensation-Retirement Benefits-Defined Benefit Plans-General (Topic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">. ASU 2018-14 modifies the disclosure requirements for defined benefit pension plans and other post-retirement benefit plans. The new guidance is effective for fiscal years ending after December 15, 2020, with early adoption permitted. ASU 2018-14 should be applied retrospectively to all periods presented and is effective for us in our fourth quarter of fiscal year 2021 as ASU 2018-14 does not amend the interim disclosure requirements. We are currently evaluating the impact of ASU 2018-14 on our condensed consolidated financial statements.</span></div>
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1800000 USD
CY2020Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1800000 USD
us-gaap Net Income Loss
NetIncomeLoss
225500000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
43400000 USD
us-gaap Net Income Loss
NetIncomeLoss
375800000 USD
us-gaap Net Income Loss
NetIncomeLoss
140100000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
75800000 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
74800000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
75600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76200000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
800000 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1000000.0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
800000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
2600000 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
1700000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
2200000 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
700000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
79200000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77500000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78600000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77700000 shares
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2.97
CY2020Q1 us-gaap Earnings Per Share Basic
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0.58
us-gaap Earnings Per Share Basic
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4.97
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.84
us-gaap Earnings Per Share Diluted
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2.85
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.56
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.78
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.80
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
500000 shares
CY2021Q2 us-gaap Cash
Cash
114800000 USD
CY2021Q2 us-gaap Cash
Cash
114800000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
687700000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
687700000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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1366800000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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400000 USD
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
300000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
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1366900000 USD
CY2020Q2 us-gaap Cash
Cash
114200000 USD
CY2020Q2 us-gaap Cash
Cash
114200000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
298000000.0 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
298000000.0 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1252900000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
3000000.0 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
100000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
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1255800000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2400000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2100000 USD
us-gaap Investment Income Interest
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1000000.0 USD
us-gaap Investment Income Interest
InvestmentIncomeInterest
4900000 USD
CY2020Q1 us-gaap Other Nonoperating Income Expense
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21700000 USD
us-gaap Other Nonoperating Income Expense
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27900000 USD
CY2020Q1 us-gaap Investment Income Interest
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5200000 USD
us-gaap Investment Income Interest
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12600000 USD
CY2021Q2 us-gaap Interest Receivable Current
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3500000 USD
CY2020Q2 us-gaap Interest Receivable Current
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4300000 USD
CY2021Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
526200000 USD
CY2021Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
300000 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
359200000 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
100000 USD
CY2021Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
926700000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
926800000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
1237400000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
1239900000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
440100000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
440100000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
15500000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
15900000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
1366800000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1366900000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
1252900000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1255800000 USD
CY2021Q2 us-gaap Cash
Cash
114800000 USD
CY2020Q2 us-gaap Cash
Cash
114200000 USD
CY2021Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1800000 USD
CY2020Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1800000 USD
CY2021Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
69400000 USD
CY2020Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
57900000 USD
CY2021Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
82500000 USD
CY2020Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
67600000 USD
CY2021Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
58800000 USD
CY2020Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
63400000 USD
CY2021Q2 us-gaap Inventory Net
InventoryNet
210700000 USD
CY2020Q2 us-gaap Inventory Net
InventoryNet
188900000 USD
CY2021Q2 lite Operating Lease Rightof Use Asset Gross
OperatingLeaseRightofUseAssetGross
87300000 USD
CY2020Q2 lite Operating Lease Rightof Use Asset Gross
OperatingLeaseRightofUseAssetGross
90300000 USD
CY2021Q2 lite Operating Lease Rightof Use Asset Accumulated Amortization
OperatingLeaseRightofUseAssetAccumulatedAmortization
17000000.0 USD
CY2020Q2 lite Operating Lease Rightof Use Asset Accumulated Amortization
OperatingLeaseRightofUseAssetAccumulatedAmortization
11600000 USD
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
70300000 USD
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
78700000 USD
CY2021Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
831300000 USD
CY2020Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
791200000 USD
CY2021Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
453300000 USD
CY2020Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
398200000 USD
CY2021Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
378000000.0 USD
CY2020Q2 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
393000000.0 USD
us-gaap Depreciation
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22800000 USD
us-gaap Depreciation
Depreciation
70400000 USD
CY2020Q1 us-gaap Depreciation
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27500000 USD
us-gaap Depreciation
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87800000 USD
CY2021Q2 us-gaap Restructuring Reserve Current
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4200000 USD
CY2020Q2 us-gaap Restructuring Reserve Current
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5200000 USD
CY2021Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
5600000 USD
CY2020Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
5000000.0 USD
CY2021Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1800000 USD
CY2020Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1900000 USD
CY2021Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
100000 USD
CY2020Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
600000 USD
CY2021Q2 us-gaap Taxes Payable Current And Noncurrent
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73100000 USD
CY2020Q2 us-gaap Taxes Payable Current And Noncurrent
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28800000 USD
CY2021Q2 us-gaap Other Sundry Liabilities Current
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2200000 USD
CY2020Q2 us-gaap Other Sundry Liabilities Current
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2800000 USD
CY2021Q2 us-gaap Other Liabilities Current
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87000000.0 USD
CY2020Q2 us-gaap Other Liabilities Current
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44300000 USD
CY2021Q2 us-gaap Accrued Income Taxes Noncurrent
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4700000 USD
CY2020Q2 us-gaap Accrued Income Taxes Noncurrent
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4600000 USD
CY2021Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
12000000.0 USD
CY2020Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
11800000 USD
CY2021Q2 lite Unrecognized Tax Benefits Noncurrent
UnrecognizedTaxBenefitsNoncurrent
26600000 USD
CY2020Q2 lite Unrecognized Tax Benefits Noncurrent
UnrecognizedTaxBenefitsNoncurrent
17300000 USD
CY2021Q2 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
2400000 USD
CY2020Q2 us-gaap Other Sundry Liabilities Noncurrent
OtherSundryLiabilitiesNoncurrent
2300000 USD
CY2021Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
45700000 USD
CY2020Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
36000000.0 USD
lite Sublease Income Term
SubleaseIncomeTerm
P2Y
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
100000 USD
CY2020Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
4800000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
400000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
13000000.0 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
0 USD
CY2020Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
0 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
3400000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
0 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 USD
CY2020Q1 us-gaap Operating Lease Cost
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3900000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
10600000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
11900000 USD
lite Short Term And Variable Lease Cost
ShortTermAndVariableLeaseCost
1100000 USD
CY2020Q1 lite Short Term And Variable Lease Cost
ShortTermAndVariableLeaseCost
1100000 USD
lite Short Term And Variable Lease Cost
ShortTermAndVariableLeaseCost
3400000 USD
lite Short Term And Variable Lease Cost
ShortTermAndVariableLeaseCost
3200000 USD
us-gaap Sublease Income
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700000 USD
CY2020Q1 us-gaap Sublease Income
SubleaseIncome
700000 USD
us-gaap Sublease Income
SubleaseIncome
2100000 USD
us-gaap Sublease Income
SubleaseIncome
1900000 USD
us-gaap Lease Cost
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3900000 USD
CY2020Q1 us-gaap Lease Cost
LeaseCost
9100000 USD
us-gaap Lease Cost
LeaseCost
12300000 USD
us-gaap Lease Cost
LeaseCost
26300000 USD
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y7M6D
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y7M6D
CY2021Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P0Y3M18D
CY2020Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P1Y
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.035
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.035
CY2021Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.044
CY2020Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.044
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
3900000 USD
CY2021Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
100000 USD
CY2021Q2 lite Lease Liability Payments Remainderof Fiscal Year
LeaseLiabilityPaymentsRemainderofFiscalYear
4000000.0 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
13800000 USD
CY2021Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
0 USD
CY2021Q2 lite Lease Liability Payments Due Year One
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13800000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
11200000 USD
CY2021Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
0 USD
CY2021Q2 lite Lease Liability Payments Due Year Two
LeaseLiabilityPaymentsDueYearTwo
11200000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
9900000 USD
CY2021Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
0 USD
CY2021Q2 lite Lease Liability Payments Due Year Three
LeaseLiabilityPaymentsDueYearThree
9900000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
6500000 USD
CY2021Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 USD
CY2021Q2 lite Lease Liability Payments Due Year Four
LeaseLiabilityPaymentsDueYearFour
6500000 USD
CY2021Q2 lite Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
25400000 USD
CY2021Q2 lite Finance Lease Liability To Be Paid After Year Four
FinanceLeaseLiabilityToBePaidAfterYearFour
0 USD
CY2021Q2 lite Lease Liability Payments Due After Year Four
LeaseLiabilityPaymentsDueAfterYearFour
25400000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
70700000 USD
CY2021Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
100000 USD
CY2021Q2 lite Lease Liability Payment Due
LeaseLiabilityPaymentDue
70800000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
8400000 USD
CY2021Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
0 USD
CY2021Q2 lite Lease Liability Undiscounted Excess Amount
LeaseLiabilityUndiscountedExcessAmount
8400000 USD
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
62300000 USD
CY2021Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
100000 USD
CY2021Q2 lite Lease Liability
LeaseLiability
62400000 USD
CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
700000 USD
CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
2300000 USD
CY2021Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
600000 USD
CY2020Q2 us-gaap Goodwill
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368900000 USD
CY2021Q2 us-gaap Goodwill
Goodwill
368900000 USD
CY2020Q2 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
560000000.0 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
296800000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
263200000 USD
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
5500000 USD
us-gaap Impairment Of Intangible Assets Finitelived
ImpairmentOfIntangibleAssetsFinitelived
5500000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Gross
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555500000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
238700000 USD
CY2020Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
316800000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
22000000.0 USD
CY2020Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
20000000.0 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
63600000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
57400000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
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2600000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
6400000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
6400000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
456500000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
5300000 USD
CY2021Q2 lite Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
1057700000 USD
CY2021Q2 us-gaap Long Term Debt
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1534900000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
100000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2020Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
100000 USD
CY2019Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-200000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-1200000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent
100000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesTaxPortionAttributableToParent
600000 USD
CY2020Q4 us-gaap Restructuring Reserve Current
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4600000 USD
CY2019Q4 us-gaap Restructuring Reserve Current
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5000000.0 USD
CY2020Q2 us-gaap Restructuring Reserve Current
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5200000 USD
CY2019Q2 us-gaap Restructuring Reserve Current
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14600000 USD
us-gaap Restructuring Charges
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2900000 USD
CY2020Q1 us-gaap Restructuring Charges
RestructuringCharges
2700000 USD
us-gaap Restructuring Charges
RestructuringCharges
3100000 USD
us-gaap Restructuring Charges
RestructuringCharges
4900000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
3300000 USD
CY2020Q1 us-gaap Payments For Restructuring
PaymentsForRestructuring
5100000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
4100000 USD
us-gaap Payments For Restructuring
PaymentsForRestructuring
16900000 USD
CY2021Q2 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
4200000 USD
CY2020Q1 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
2600000 USD
CY2021Q2 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
4200000 USD
CY2020Q1 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
2600000 USD
us-gaap Restructuring Charges
RestructuringCharges
2900000 USD
us-gaap Restructuring Charges
RestructuringCharges
3100000 USD
CY2020Q1 us-gaap Restructuring Charges
RestructuringCharges
2700000 USD
us-gaap Restructuring Charges
RestructuringCharges
4900000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
27400000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
58800000 USD
us-gaap Income Tax Reconciliation Tax Contingencies
IncomeTaxReconciliationTaxContingencies
16800000 USD
CY2021Q2 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
26900000 USD
CY2021Q2 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
DecreaseInUnrecognizedTaxBenefitsIsReasonablyPossible
4800000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
25100000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19200000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
68700000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
56100000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3400000 USD
CY2020Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2400000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
12200000 USD
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
9000000.0 USD
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
5200000 USD
CY2020 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3600000 USD
CY2021Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
147200000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y10M24D
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
3500000 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Gross
StockIssuedDuringPeriodSharesShareBasedCompensationGross
1300000 shares
us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
100000 shares
CY2021Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2300000 shares
CY2021Q2 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
224900000 USD
lite Supply Agreement Typical Duration
SupplyAgreementTypicalDuration
P1Y
lite Standard Product Warranty Term
StandardProductWarrantyTerm
P12M
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5700000 USD
CY2019Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
6800000 USD
CY2020Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5000000.0 USD
CY2019Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
7500000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1700000 USD
CY2020Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
700000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
5800000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
2500000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1800000 USD
CY2020Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
2100000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
5200000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
4600000 USD
CY2021Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5600000 USD
CY2020Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5400000 USD
CY2021Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5600000 USD
CY2020Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
5400000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
2 segment
us-gaap Gross Profit
GrossProfit
185000000.0 USD
CY2020Q1 us-gaap Gross Profit
GrossProfit
157700000 USD
us-gaap Gross Profit
GrossProfit
620300000 USD
us-gaap Gross Profit
GrossProfit
514500000 USD
us-gaap Loss From Catastrophes
LossFromCatastrophes
1600000 USD
us-gaap Loss From Catastrophes
LossFromCatastrophes
1600000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
419500000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
402800000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1350700000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1310500000 USD
lite Geographic Regions Number
GeographicRegionsNumber
3 region
lite Geographic Regions Number
GeographicRegionsNumber
3 region
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
419500000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
402800000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1350700000 USD
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1310500000 USD
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
415200000 USD
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
11400000 USD
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0 USD
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
426600000 USD
CY2021Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
224800000 USD
CY2020Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
233500000 USD
lite Contract With Customer Asset Period Increase Decrease
ContractWithCustomerAssetPeriodIncreaseDecrease
-8700000 USD
lite Contract With Customer Asset Period Increase Decrease Percent
ContractWithCustomerAssetPeriodIncreaseDecreasePercent
-0.037
CY2021Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1800000 USD
CY2020Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1900000 USD
lite Contract With Customer Liability Period Increase Decrease
ContractWithCustomerLiabilityPeriodIncreaseDecrease
-100000 USD
lite Contract With Customer Liability Period Increase Decrease Percent
ContractWithCustomerLiabilityPeriodIncreaseDecreasePercent
-0.053
CY2021Q2 us-gaap Noncurrent Assets
NoncurrentAssets
378000000.0 USD
CY2020Q2 us-gaap Noncurrent Assets
NoncurrentAssets
393000000.0 USD

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