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Fair Value Measurements and Investments (Tables) | 12 Months Ended
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Jul. 02, 2021
Fair Value Disclosures [Abstract] |
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables present information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of July 2, 2021 and July 3, 2020, and indicate the fair value hierarchy of the valuation techniques utilized to determine such values:
| July 2, 2021
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (in millions)
Assets: |  |  |  |  |  |  |
Cash equivalents - Money market funds | $ | 1,283 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,283 |
Foreign exchange contracts | — |  |  | 14 |  |  | — |  |  | 14 |
Total assets at fair value | $ | 1,283 |  |  | $ | 14 |  |  | $ | — |  |  | $ | 1,297 |
Liabilities: |  |  |  |  |  |  |
Foreign exchange contracts | $ | — |  |  | $ | 65 |  |  | $ | — |  |  | $ | 65 |
Interest rate swap contract | — |  |  | 80 |  |  | — |  |  | 80 |
Total liabilities at fair value | $ | — |  |  | $ | 145 |  |  | $ | — |  |  | $ | 145 |
| July 3, 2020
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (in millions)
Assets: |  |  |  |  |  |  |
Cash equivalents - Money market funds | $ | 1,079 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,079 |
Foreign exchange contracts | — |  |  | 28 |  |  | — |  |  | 28 |
Total assets at fair value | $ | 1,079 |  |  | $ | 28 |  |  | $ | — |  |  | $ | 1,107 |
Liabilities: |  |  |  |  |  |  |
Foreign exchange contracts | $ | — |  |  | $ | 9 |  |  | $ | — |  |  | $ | 9 |
Interest rate swap contract | — |  |  | 133 |  |  | — |  |  | 133 |
Total liabilities at fair value | $ | — |  |  | $ | 142 |  |  | $ | — |  |  | $ | 142 |
Related Costs And Fair Values Based On Quoted Market Prices | For financial instruments where the carrying value (which includes principal adjusted for any unamortized issuance costs, and discounts or premiums) differs from fair value (which is based on quoted market prices), the following table represents the related carrying value and fair value for each of the Company’s outstanding financial instruments. Each of the financial instruments presented below was categorized as Level 2 for all periods presented, based on the frequency of trading immediately prior to the end of the fourth quarter of 2021 and the fourth quarter of 2020, respectively.
| July 2, 2021 |  | July 3, 2020
| Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
| (in millions)
0.50% convertible senior notes due 2020 | $ | — |  |  | $ | — |  |  | $ | 34 |  |  | $ | 30 |
Variable interest rate Term Loan A-1 maturing 2023 | 4,327 |  |  | 4,346 |  |  | 4,576 |  |  | 4,474 |
Variable interest rate Term Loan B-4 maturing 2023 | 1,093 |  |  | 1,094 |  |  | 1,692 |  |  | 1,656 |
1.50% convertible notes due 2024 | 1,017 |  |  | 1,173 |  |  | 987 |  |  | 1,036 |
4.75% senior unsecured notes due 2026 | 2,288 |  |  | 2,556 |  |  | 2,286 |  |  | 2,428 |
Total | $ | 8,725 |  |  | $ | 9,169 |  |  | $ | 9,575 |  |  | $ | 9,624 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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