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Related Parties and Related Commitments and Contingencies (Tables) | 3 Months Ended
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Oct. 01, 2021
Commitments and Contingencies Disclosure [Abstract] |
Notes Receivable and Investments in Related Parties | The following table presents the notes receivable from, and equity investments in, Flash Ventures as of October 1, 2021 and July 2, 2021:
| October 1, 2021 |  | July 2, 2021
| (in millions)
Notes receivable, Flash Partners | $ | 145 |  |  | $ | 191 |
Notes receivable, Flash Alliance | 194 |  |  | 213 |
Notes receivable, Flash Forward | 681 |  |  | 561 |
Investment in Flash Partners | 201 |  |  | 199 |
Investment in Flash Alliance | 294 |  |  | 293 |
Investment in Flash Forward | 131 |  |  | 129 |
Total notes receivable and investments in Flash Ventures | $ | 1,646 |  |  | $ | 1,586 |
Variable Interest Entity Maximum Loss Exposure | The Company’s maximum reasonably estimable loss exposure (excluding lost profits) as a result of its involvement with Flash Ventures, based upon the Japanese yen to U.S. dollar exchange rate at October 1, 2021, is presented below. Investments in Flash Ventures are denominated in Japanese yen, and the maximum estimable loss exposure excludes any cumulative translation adjustment due to revaluation from the Japanese yen to the U.S. dollar.
| October 1, 2021
| (in millions)
Notes receivable | $ | 1,020 |
Equity investments | 626 |
Operating lease guarantees | 1,985 |
Inventory and prepayments | 790 |
Maximum estimable loss exposure | $ | 4,421 |
Schedule of Guarantor Obligations | The following table presents the Company’s portion of the remaining guarantee obligations under the Flash Ventures’ lease facilities in both Japanese yen and U.S. dollar-equivalent, based upon the Japanese yen to U.S. dollar exchange rate as of October 1, 2021.
| Lease Amounts
| (Japanese yen, in billions) |  | (U.S. dollar, in millions)
Total guarantee obligations | ¥ | 220 |  |  | $ | 1,985 |
Remaining Guarantee Obligations | The following table details the breakdown of the Company’s remaining guarantee obligations between the principal amortization and the purchase option exercise price at the end of the term of the Flash Ventures lease agreements, in annual installments as of October 1, 2021 in U.S. dollars, based upon the Japanese yen to U.S. dollar exchange rate as of October 1, 2021:
Annual Installments |  | Payment of Principal Amortization |  | Purchase Option Exercise Price at Final Lease Terms |  | Guarantee Amount
|  | (in millions)
Remaining nine months of 2022 |  | $ | 443 |  |  | $ | 22 |  |  | $ | 465 |
2023 |  | 481 |  |  | 65 |  |  | 546 |
2024 |  | 325 |  |  | 117 |  |  | 442 |
2025 |  | 138 |  |  | 107 |  |  | 245 |
2026 |  | 91 |  |  | 162 |  |  | 253 |
Thereafter |  | 4 |  |  | 30 |  |  | 34 |
Total guarantee obligations |  | $ | 1,482 |  |  | $ | 503 |  |  | $ | 1,985 |

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- Definition Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=124440162&loc=d3e12069-110248 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=124440162&loc=d3e12265-110248 + Details
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- Definition Disclosure of investments in and notes receivable from a joint venture accounted for under the equity-method. + References No definition available. + Details
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- Definition Represents the guarantor's disclosures which should include the information about each guarantee, or each group of similar guarantees, even if the likelihood of the guarantor's having to make any payments under the guarantee is remote. This excludes disclosures for product warranties. + References No definition available. + Details
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- Definition Enterprise's maximum exposure to loss as a result of its involvement with the VIE, including how the maximum exposure is determined, the significant sources of the enterprise's exposure to the VIE, and the differences between the maximum exposure to loss and the liability recognized in its financial statements. It may also include factors such as the fair market value at which the registrant is carrying an asset and registrant guarantees. Also, whether the enterprise's maximum exposure to loss as a result of its involvement with the VIE cannot be quantified. In general, a VIE is a corporation, partnership, trust, or any other legal structure used for business purposes that either (a) does not have equity investors with voting rights or (b) has equity investors that do not provide sufficient financial resources for the entity to support its activities. A VIE often holds financial assets, including loans or receivables, real estate or other property. A VIE may be essentially passive or it may engage in research and development or other activities on behalf of another company. + References No definition available. + Details
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