VIAVI SOLUTIONS INC. Fair Value Disclosure
| June 28, 2025 | June 29, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||
| Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||
| Assets: | |||||||||||||||||||||||||||||||||||||||||||||||
| Debt available-for-sale securities: | |||||||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities(1) | $ | 0.3 | $ | — | $ | 0.3 | $ | — | $ | 0.3 | $ | — | $ | 0.3 | $ | — | |||||||||||||||||||||||||||||||
| Total debt available-for-sale securities | 0.3 | — | 0.3 | — | 0.3 | — | 0.3 | — | |||||||||||||||||||||||||||||||||||||||
Money market funds(2) | 229.0 | 229.0 | — | — | 295.3 | 295.3 | — | — | |||||||||||||||||||||||||||||||||||||||
Trading securities(3) | 1.6 | 1.6 | — | — | 1.5 | 1.5 | — | — | |||||||||||||||||||||||||||||||||||||||
Foreign currency forward contracts(4) | 4.9 | — | 4.9 | — | 1.7 | — | 1.7 | — | |||||||||||||||||||||||||||||||||||||||
Non-marketable equity security(5) | 3.0 | — | — | 3.0 | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| Total assets | $ | 238.8 | $ | 230.6 | $ | 5.2 | $ | 3.0 | $ | 298.8 | $ | 296.8 | $ | 2.0 | $ | — | |||||||||||||||||||||||||||||||
| Liability: | |||||||||||||||||||||||||||||||||||||||||||||||
Foreign currency forward contracts(6) | $ | 3.1 | $ | — | $ | 3.1 | $ | — | $ | 1.5 | $ | — | $ | 1.5 | $ | — | |||||||||||||||||||||||||||||||
Contingent consideration(7) | 117.4 | — | — | 117.4 | 9.5 | — | — | 9.5 | |||||||||||||||||||||||||||||||||||||||
| Total liabilities | $ | 120.5 | $ | — | $ | 3.1 | $ | 117.4 | $ | 11.0 | $ | — | $ | 1.5 | $ | 9.5 | |||||||||||||||||||||||||||||||
| June 28, 2025 | June 29, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||
| Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||||||||||||||||
| Debt: | |||||||||||||||||||||||||||||||||||||||||||||||
3.75% Senior Notes | $ | 373.6 | $ | — | $ | 373.6 | $ | — | $ | 338.9 | $ | — | $ | 338.9 | $ | — | |||||||||||||||||||||||||||||||
1.625% Senior Convertible Notes | 252.0 | — | 252.0 | — | 238.1 | — | 238.1 | — | |||||||||||||||||||||||||||||||||||||||
| Total liabilities | $ | 625.6 | $ | — | $ | 625.6 | $ | — | $ | 577.0 | $ | — | $ | 577.0 | $ | — | |||||||||||||||||||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Aug 11, 2025 | Showing above |
| 2024 | Aug 16, 2024 | |
| 2023 | Aug 17, 2023 | |
| 2022 | Aug 19, 2022 | |
| 2021 | Aug 23, 2021 | |
| 2020 | Aug 24, 2020 | |
| 2019 | Aug 27, 2019 | |
| 2018 | Aug 28, 2018 | |
| 2017 | Aug 29, 2017 | |
| 2016 | Aug 30, 2016 | |
About Fair Value Disclosures
Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.
Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.