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Shareholders' Equity (Tables)

6 Months Ended

Jan. 01, 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 (i.e., stock options, restricted stock units (“RSUs”), restricted stock unit awards with performance conditions or market conditions (“PSUs”), and rights to purchase shares of common stock under the Company’s Employee Stock Purchase Plan (“ESPP”)) and financial statement line as well as the related tax benefit included in the Company’s Condensed Consolidated Statements of Operations:

			Three Months Ended												Six Months Ended
			January 1, 2021						January 3, 2020						January 1, 2021						January 3, 2020
			(in millions)
Options			$	—					$	2					$	—					$	4
RSUs and PSUs			72						70						139						136
ESPP			8						5						17						14
Total			$	80					$	77					$	156					$	154

			Three Months Ended												Six Months Ended
			January 1, 2021						January 3, 2020						January 1, 2021						January 3, 2020
			(in millions)
Cost of revenue			$	15					$	13					$	27					$	25
Research and development			40						41						79						82
Selling, general and administrative			25						23						50						47
Subtotal			80						77						156						154
Tax benefit			(9)						(11)						(20)						(23)
Total			$	71					$	66					$	136					$	131

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 January 1, 2021:

			Unamortized Compensation Costs						Weighted Average Service Period
			(in millions)						(years)
RSUs and PSUs (1)			$	663					2.8
ESPP			22						0.7
Total unamortized compensation cost			$	685

(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, 2020			2.7						$	69.16					2.1						$	—
Exercised			(0.2)						44.09												$	2
Canceled or expired			(0.7)						74.66
Options outstanding at January 1, 2021			1.8						69.75						1.74						$	9
Exercisable at January 1, 2021			1.8						$	69.75					1.74						$	9

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, 2020			13.3						$	60.92
Granted			8.1						37.97
Vested			(3.9)						61.33						$	158
Forfeited			(0.9)						60.23
RSUs and PSUs outstanding at January 1, 2021			16.6						49.45

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