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Shareholders' Equity (Tables)

12 Months Ended

Jul. 02, 2021

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:

															2021						2020						2019
															(in millions)
Options															$	—					$	7					$	16
RSUs and PSUs															282						268						263
ESPP															36						33						27
Total															$	318					$	308					$	306

															2021						2020						2019
															(in millions)
Cost of revenue															$	55					$	51					$	48
Research and development															158						163						155
Selling, general and administrative															105						94						103
Subtotal															318						308						306
Tax benefit															(47)						(45)						(50)
Total															$	271					$	263					$	256

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 July 2, 2021:

			Unamortized Compensation Costs						Weighted Average Service Period
			(in millions)						(years)
RSUs and PSUs (1)			$	543					2.4
ESPP			65						1.8
Total unamortized compensation cost			$	608

(1)    Weighted average service period assumes the performance conditions 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 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
Exercised			(0.8)						43.26												$	12
Canceled or expired			(0.4)						88.58
Options outstanding at July 3, 2020			2.7						69.16
Exercised			(0.4)						44.34												$	6
Canceled or expired			(0.8)						75.42
Options outstanding at July 2, 2021			1.5						$	72.84					1.20						$	15

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 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
Granted			7.4						55.32
Vested			(4.4)						58.36						$	252
Forfeited			(1.3)						63.33
RSUs and PSUs outstanding at July 3, 2020			13.3						60.92
Granted			8.8						40.40
Vested			(4.5)						60.18						$	196
Forfeited			(1.5)						55.74
RSUs and PSUs outstanding at July 2, 2021			16.1						$	50.12

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

The fair values of 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:

															2021						2020						2019
Weighted-average expected term (in years)															1.25						1.25						1.24
Risk-free interest rate															0.10%						0.55%						2.25%
Stock price volatility															0.56						0.59						0.35
Dividend yield															—%						1.08%						2.42%
Fair value															$21.59						$12.76						$16.89

Shares of Common Stock Reserved for Issuance Table

The following table summarizes all common stock reserved for issuance at July 2, 2021:

			Number of Shares
			(in millions)
Outstanding awards and shares available for award grants			33
ESPP			6
Total			39

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