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Shareholders' Equity | 9 Months Ended
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Mar. 29, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Shareholders' Equity | Shareholders’ Equity Stock-based Compensation Expense 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 Condensed Consolidated Statements of Operations:
| Three Months Ended |  | Nine Months Ended
| March 29, 2019 |  | March 30, 2018 |  | March 29, 2019 |  | March 30, 2018
| (in millions)
Options | $ | 3 |  |  | $ | 6 |  |  | $ | 12 |  |  | $ | 19 |
Restricted and performance stock units | 71 |  |  | 89 |  |  | 208 |  |  | 260 |
Employee stock purchase plan | 10 |  |  | 8 |  |  | 22 |  |  | 20 |
Subtotal | 84 |  |  | 103 |  |  | 242 |  |  | 299 |
Tax benefit | (14 | ) |  | (17 | ) |  | (39 | ) |  | (51 | )
Total | $ | 70 |  |  | $ | 86 |  |  | $ | 203 |  |  | $ | 248 |
| Three Months Ended |  | Nine Months Ended
| March 29, 2019 |  | March 30, 2018 |  | March 29, 2019 |  | March 30, 2018
| (in millions)
Cost of revenue | $ | 13 |  |  | $ | 11 |  |  | $ | 37 |  |  | $ | 37 |
Research and development | 41 |  |  | 45 |  |  | 122 |  |  | 134 |
Selling, general and administrative | 30 |  |  | 46 |  |  | 83 |  |  | 127 |
Employee termination, asset impairment, and other charges | — |  |  | 1 |  |  | — |  |  | 1 |
Subtotal | 84 |  |  | 103 |  |  | 242 |  |  | 299 |
Tax benefit | (14 | ) |  | (17 | ) |  | (39 | ) |  | (51 | )
Total | $ | 70 |  |  | $ | 86 |  |  | $ | 203 |  |  | $ | 248 |
Compensation cost related to unvested stock options, restricted stock unit awards (“RSUs”), performance-based restricted stock unit awards (“PSUs”), and rights to purchase shares of common stock under the Company’s Employee Stock Purchase Plan (“ESPP”) will generally be amortized on a straight-line basis over the remaining average service period. The following table presents the unamortized compensation cost and weighted average service period of all unvested outstanding awards as of March 29, 2019:
| Unamortized Compensation Costs |  | Weighted Average Service Period
| (in millions) |  | (years)
Options | $ | 12 |  |  | 1.2
RSUs and PSUs (1) | 577 |  |  | 2.5
ESPP | 62 |  |  | 1.7
Total unamortized compensation cost | $ | 651 |  |  |
(1) | Weighted average service period assumes the performance metrics are met for the PSUs.
Plan Activities Stock Options 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 June 29, 2018 | 4.8 |  |  | $ | 64.23 |  |  |  |  |
Exercised | (0.4 | ) |  | 39.11 |  |  |  |  | $ | 7 |
Canceled or expired | (0.3 | ) |  | 80.18 |  |  |  |  |
Options outstanding at March 29, 2019 | 4.1 |  |  | $ | 65.07 |  |  | 3.1 |  | $ | 9 |
Exercisable at March 29, 2019 | 3.2 |  |  | $ | 69.46 |  |  | 2.8 |  | $ | 7 |
RSUs and PSUs 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 June 29, 2018 | 12.6 |  |  | $ | 58.31 |  |  |
Granted | 6.9 |  |  | 56.01 |  |  |
Vested | (6.0 | ) |  | 52.36 |  |  | $ | 345 |
Forfeited | (1.1 | ) |  | 56.68 |  |  |
RSUs and PSUs outstanding at March 29, 2019 | 12.4 |  |  | $ | 62.63 |  |  |
RSUs and PSUs are generally settled in an equal number of shares of the Company’s common stock at the time of vesting of the units. Stock Repurchase Program The Company’s Board of Directors previously authorized $5.00 billion for the repurchase of the Company’s common stock. On July 25, 2018, the Company’s Board of Directors authorized a new $5.00 billion share repurchase program that is effective through July 25, 2023, replacing all prior programs. For the three months ended March 29, 2019, the Company did not make any stock repurchases. For the nine months ended March 29, 2019, the Company repurchased 0.8 million shares for a total cost of $61 million under the previous authorization and 7.6 million shares for a total cost of $502 million under the new authorization. Therefore, the Company’s stock repurchases under all stock repurchase authorizations in effect for the nine months ended March 29, 2019 totaled $563 million. The remaining amount available to be repurchased under the Company’s current stock repurchase program as of March 29, 2019 was $4.50 billion. Repurchases under the stock repurchase program may be made in the open market or in privately negotiated transactions and may be made under a Rule 10b5-1 plan. The Company expects stock repurchases to be funded principally by operating cash flows. Dividends to Shareholders Since the first quarter of 2013, the Company has issued a quarterly cash dividend. During the nine months ended March 29, 2019, the Company declared aggregate cash dividends of $1.50 per share on its outstanding common stock totaling $436 million, including $146 million that was paid on April 15, 2019. On May 2, 2019, the Board declared a cash dividend of $0.50 per share to shareholders of record as of June 28, 2019, which will be paid on July 15, 2019. The Company may modify, suspend or cancel its cash dividend policy in any manner and at any time.

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- Definition The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income, and compensation-related costs for equity-based compensation. Includes, but is not limited to, disclosure of policies, compensation plan details, equity-based arrangements to obtain goods and services, deferred compensation arrangements, and employee stock purchase plan details. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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