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Shareholders' Equity (Tables)
 12 Months Ended
Jun. 28, 2019
Share-based Payment Arrangement [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:
 
2019
 
2018
 
2017
 
(in millions)
Options
$
16

 
$
25

 
$
41

Restricted and performance stock units
263

 
325

 
330

Employee stock purchase plan
27

 
27

 
23

Total
$
306

 
$
377

 
$
394


 
2019
 
2018
 
2017
 
(in millions)
Cost of revenue
$
48

 
$
49

 
$
49

Research and development
155

 
170

 
173

Selling, general and administrative
103

 
157

 
161

Employee termination, asset impairment, and other charges
—

 
1

 
11

Subtotal
306

 
377

 
394

Tax benefit
(50
)
 
(66
)
 
(105
)
Total
$
256

 
$
311

 
$
289
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 28, 2019:
 
Unamortized Compensation Costs
 
Weighted Average Service Period
 
(in millions)
 
(years)
Options
$
7

 
1.0
RSUs and PSUs (1)
485

 
2.4
ESPP
65

 
1.9
Total unamortized compensation cost
$
557

 
 
 
 
(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 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

 
 
 
 
Exercised
(0.4
)
 
39.58

 
 
 
$
8

Canceled or expired
(0.5
)
 
74.79

 
 
 
 
Options outstanding at June 28, 2019
3.9

 
$
65.72

 
2.6
 
$
8

Exercisable at June 28, 2019
3.3

 
$
68.97

 
2.3
 
$
6
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 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
7.3

 
54.82

 
 
Vested
(6.3
)
 
53.21

 
$
360

Forfeited
(2.0
)
 
58.63

 
 
RSUs and PSUs outstanding at June 28, 2019
11.6

 
$
62.07

 
 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions The fair value of stock options granted in 2017 was estimated using the following weighted average assumptions:
 
2017
Suboptimal exercise factor
2.69
Range of risk-free interest rates
0.59% to 1.42%
Range of expected stock price volatility
0.35 to 0.49
Weighted-average expected volatility
0.40
Post-vesting termination rate
1.71%
Dividend yield
3.42%
Fair value
$13.72
Weighted-average expected term (in years)
3.6
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:
 
2019
 
2018
 
2017
Weighted-average expected term (in years)
1.26
 
1.24
 
1.26
Risk-free interest rate
2.39%
 
2.25%
 
0.81%
Stock price volatility
0.41
 
0.35
 
0.42
Dividend yield
4.92%
 
2.42%
 
4.02%
Fair value
$8.28
 
$16.89
 
$10.06
Shares of Common Stock Reserved for Issuance Table
The following table summarizes all common stock reserved for issuance at June 28, 2019:
 
Number of Shares
 
(in millions)
Outstanding awards and shares available for award grants
33

ESPP
12

Total
45