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Shareholders' Equity (Tables)

12 Months Ended

Jun. 29, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The following tables present the Company’s stock-based compensation for equity-settled awards by type and financial statement line as well as the related tax benefit included in the Company’s Consolidated Statements of Operations:

	2018				2017				2016
	(in millions)
Options	$	25			$	41			$	55
Restricted and performance stock units	325				330				123
Employee stock purchase plan	27				23				13
Subtotal	377				394				191
Tax benefit	(66		)		(105		)		(48		)
Total	$	311			$	289			$	143

	2018				2017				2016
	(in millions)
Cost of revenue	$	49			$	49			$	21
Research and development	170				173				76
Selling, general and administrative	157				161				85
Employee termination, asset impairment, and other charges	1				11				9
Subtotal	377				394				191
Tax benefit	(66		)		(105		)		(48		)
Total	$	311			$	289			$	143

Employee Service Share-based Compensation , Unrecognized Costs

The following table presents the unamortized compensation cost and weighted average service period of all unvested outstanding awards as of June 29, 2018:

	Unamortized Compensation Costs				Weighted Average Service Period
	(in millions)				(years)
Options	$	25			1.8
RSUs and PSUs (1)	464				2.1
ESPP	51				1.5
Total unamortized compensation cost	$	540

⁽¹⁾  Weighted average service period assumes the performance metrics are met for the PSUs.

Stock Option Activity

The following table summarizes stock option activity under the Company’s incentive plans:

	Number of Shares			Weighted Average Exercise Price Per Share				Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value
	(in millions)							(in years)		(in millions)
Options outstanding at July 3, 2015	6.8			$	50.00
Granted	1.7			82.68
Assumed	2.9			38.37
Exercised	(1.7	)		27.43						$	57
Canceled or expired	(0.7	)		66.03
Options outstanding at July 1, 2016	9.0			55.74
Granted	2.8			44.83
Exercised	(3.5	)		37.72						120
Canceled or expired	(0.9	)		71.31
Options outstanding at June 30, 2017	7.4			$	58.14
Exercised	(2.2	)		44.52						$	99
Canceled or expired	(0.4	)		60.85
Options outstanding at June 29, 2018	4.8			$	64.23			3.7		$	94
Exercisable at June 29, 2018	3.0			$	70.70			3.1		$	47

Restricted Stock Unit

The following table summarizes RSU and PSU activity under the Company’s incentive plans:

	Number of Shares			Weighted Average Grant Date Fair Value				Aggregate Intrinsic Value at Vest Date
	(in millions)							(in millions)
RSUs and PSUs outstanding at July 3, 2015	3.0			$	73.80
Granted	2.7			61.32
Assumed	12.5			32.14
Vested	(2.0	)		56.11				$	144
Forfeited	(0.5	)		62.09
RSUs and PSUs outstanding at July 1, 2016	15.7			41.92
Granted	6.0			44.13
Vested	(5.9	)		46.98				399
Forfeited	(2.1	)		43.89
RSUs and PSUs outstanding at June 30, 2017	13.7			$	45.01
Granted	6.3			74.68
Vested	(6.3	)		45.20				$	552
Forfeited	(1.1	)		50.35
RSUs and PSUs outstanding at June 29, 2018	12.6			$	58.31

Granted Stock Options Fair Value Assumptions Table

The fair value of stock options granted in 2017 and 2016 was estimated using the following weighted average assumptions:

	2017		2016
Suboptimal exercise factor	2.69		2.71
Range of risk-free interest rates	0.59% to 1.42%		0.25% to 2.09%
Range of expected stock price volatility	0.35 to 0.49		0.28 to 0.49
Weighted-average expected volatility	0.40		0.35
Post-vesting termination rate	1.71%		0.47%
Dividend yield	3.42%		2.61%
Fair value	$13.72		$22.54
Weighted-average expected term (in years)	3.6		4.7

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

The fair values of all outstanding ESPP purchase rights have been estimated at the date of grant using a Black-Scholes-Merton option-pricing model with the following weighted average assumptions:

	2018		2017		2016
Weighted-average expected term (in years)	1.24		1.26		1.27
Risk-free interest rate	2.25%		0.81%		0.82%
Stock price volatility	0.35		0.42		0.38
Dividend yield	2.42%		4.02%		3.92%
Fair value	$16.89		$10.06		$9.91

Summarized Table Of All Shares Of Common Stock Reserved For Issuance Table

The following table summarizes all common stock reserved for issuance at June 29, 2018:

	Number of Shares
	(in millions)
Outstanding awards and shares available for award grants	36
ESPP	5
Total	41

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Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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