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v3.23.1

Business Segments, Geographic Information, and Concentrations of Risk (Tables) | 9 Months Ended
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Mar. 31, 2023
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following table summarizes the operating performance of the Company’s reportable segments:
| Three Months Ended |  | Nine Months Ended
| March 31, 2023 |  | April 1, 2022 |  | March 31, 2023 |  | April 1, 2022
| $ in millions
Net revenue: |  |  |  |  |  |  |
Flash | $ | 1,307 |  |  | $ | 2,243 |  |  | $ | 4,686 |  |  | $ | 7,353 |
HDD | 1,496 |  |  | 2,138 |  |  | 4,960 |  |  | 6,912 |
Total net revenue | $ | 2,803 |  |  | $ | 4,381 |  |  | $ | 9,646 |  |  | $ | 14,265 |
Gross profit: |  |  |  |  |  |  |
Flash | $ | (65) |  |  | $ | 798 |  |  | $ | 597 |  |  | $ | 2,665 |
HDD | 363 |  |  | 592 |  |  | 1,237 |  |  | 2,061 |
Total gross profit for segments | 298 |  |  | 1,390 |  |  | 1,834 |  |  | 4,726 |
Unallocated corporate items: |  |  |  |  |  |  |
Stock-based compensation expense | (12) |  |  | (13) |  |  | (38) |  |  | (36) |
Amortization of acquired intangible assets | — |  |  | — |  |  | (1) |  |  | (65) |
Contamination related charges | — |  |  | (203) |  |  | — |  |  | (203) |
Recoveries from a power outage incident | — |  |  | 7 |  |  | — |  |  | 7 |
Total unallocated corporate items | (12) |  |  | (209) |  |  | (39) |  |  | (297) |
Consolidated gross profit | $ | 286 |  |  | $ | 1,181 |  |  | $ | 1,795 |  |  | $ | 4,429 |
Gross margin: |  |  |  |  |  |  |
Flash | (5.0) | % |  | 35.6 | % |  | 12.7 | % |  | 36.2 | %
HDD | 24.3 | % |  | 27.7 | % |  | 24.9 | % |  | 29.8 | %
Consolidated gross margin | 10.2 | % |  | 27.0 | % |  | 18.6 | % |  | 31.0 | %
Schedule of Disaggregation of Revenue | The Company’s disaggregated revenue information is as follows:
| Three Months Ended |  | Nine Months Ended
| March 31, 2023 |  | April 1, 2022 |  | March 31, 2023 |  | April 1, 2022
| (in millions)
Revenue by End Market |  |  |  |  |  |  |
Cloud | $ | 1,205 |  |  | $ | 1,774 |  |  | $ | 4,258 |  |  | $ | 5,919 |
Client | 975 |  |  | 1,732 |  |  | 3,293 |  |  | 5,439 |
Consumer | 623 |  |  | 875 |  |  | 2,095 |  |  | 2,907 |
Total Revenue | $ | 2,803 |  |  | $ | 4,381 |  |  | $ | 9,646 |  |  | $ | 14,265 |
Revenue by Geography |  |  |  |  |  |  |
Asia | $ | 1,353 |  |  | $ | 2,400 |  |  | $ | 4,533 |  |  | $ | 7,685 |
Americas | 935 |  |  | 1,377 |  |  | 3,448 |  |  | 4,398 |
Europe, Middle East and Africa | 515 |  |  | 604 |  |  | 1,665 |  |  | 2,182 |
Total Revenue | $ | 2,803 |  |  | $ | 4,381 |  |  | $ | 9,646 |  |  | $ | 14,265 |
Schedule of Goodwill | The following table provides a summary of goodwill activity for the period:
| Flash |  | HDD |  | Total
| (in millions)
Balance at July 1, 2022 | $ | 5,718 |  |  | $ | 4,323 |  |  | $ | 10,041 |
Foreign currency translation adjustment | — |  |  | — |  |  | — |
Balance at March 31, 2023 | $ | 5,718 |  |  | $ | 4,323 |  |  | $ | 10,041 |

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