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Supplemental Financial Statement Data | 3 Months Ended
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Sep. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supplemental Financial Statement Data | Supplemental Financial Statement Data Accounts receivable, net From time to time, in connection with factoring agreements, the Company sells trade accounts receivable without recourse to third-party purchasers in exchange for cash. During the three months ended September 29, 2023 and September 30, 2022, the Company sold trade accounts receivable aggregating $150 million and $291 million, respectively. The discounts on the trade accounts receivable sold were not material and were recorded within Other income (expense), net in the Condensed Consolidated Statements of Operations. As of both September 29, 2023 and June 30, 2023, the amount of factored receivables that remained outstanding was $150 million. Inventories
| September 29, 2023 |  | June 30, 2023
| (in millions)
Inventories: |  |  |
Raw materials and component parts | $ | 1,975 |  |  | $ | 2,096 |
Work-in-process | 925 |  |  | 979 |
Finished goods | 597 |  |  | 623 |
Total inventories | $ | 3,497 |  |  | $ | 3,698 |
Property, plant and equipment, net
| September 29, 2023 |  | June 30, 2023
| (in millions)
Property, plant and equipment: |  |  |
Land | $ | 235 |  |  | $ | 269 |
Buildings and improvements | 1,842 |  |  | 1,955 |
Machinery and equipment | 8,691 |  |  | 8,704 |
Computer equipment and software | 473 |  |  | 470 |
Furniture and fixtures | 55 |  |  | 54 |
Construction-in-process | 729 |  |  | 798 |
Property, plant and equipment, gross | 12,025 |  |  | 12,250 |
Accumulated depreciation | (8,654) |  |  | (8,630) |
Property, plant and equipment, net | $ | 3,371 |  |  | $ | 3,620 |
Other Intangible assets, net As part of prior acquisitions, the Company recorded at the time of the acquisition acquired in-process research and development (“IPR&D”) for projects in progress that had not yet reached technological feasibility. IPR&D is initially accounted for as an indefinite-lived intangible asset. Once a project reaches technological feasibility, the Company reclassifies the balance to existing technology and begins to amortize the intangible asset over its estimated useful life. As of both September 29, 2023, and June 30, 2023, IPR&D included in intangible assets, net was $80 million. As of both September 29, 2023 and June 30, 2023, all other intangible assets were fully amortized. Product warranty liability Changes in the warranty accrual were as follows:
| Three Months Ended |  |  |  |
| September 29, 2023 |  | September 30, 2022 |  |  |  |  |  |
| (in millions)
Warranty accrual, beginning of period | $ | 244 |  |  | $ | 345 |  |  |  |  |  |  |
Charges to operations | 22 |  |  | 32 |  |  |  |  |  |  |
Utilization | (43) |  |  | (34) |  |  |  |  |  |  |
Changes in estimate related to pre-existing warranties | (5) |  |  | (3) |  |  |  |  |  |  |
Warranty accrual, end of period | $ | 218 |  |  | $ | 340 |  |  |  |  |  |  |
The current portion of the warranty accrual is classified in Accrued expenses and the long-term portion is classified in Other liabilities as noted below:
| September 29, 2023 |  | June 30, 2023 |  |  |  |  |  |
| (in millions)
Warranty accrual: |  |  |  |  |  |  |  |  |
Current portion (included in Accrued expenses) | $ | 61 |  |  | $ | 97 |  |  |  |  |  |  |
Long-term portion (included in Other liabilities) | 157 |  |  | 147 |  |  |  |  |  |  |
Total warranty accrual | $ | 218 |  |  | $ | 244 |  |  |  |  |  |  |
Other liabilities
| September 29, 2023 |  | June 30, 2023
| (in millions)
Other liabilities: |  |  |
Non-current net tax payable | $ | 199 |  |  | $ | 464 |
Non-current portion of unrecognized tax benefits | 497 |  |  | 408 |
Other non-current liabilities | 702 |  |  | 543 |
Total other liabilities | $ | 1,398 |  |  | $ | 1,415 |
Accumulated other comprehensive loss Accumulated other comprehensive loss (“AOCL”), net of tax refers to expenses, gains and losses that are recorded as an element of shareholders’ equity but are excluded from net income. The following table illustrates the changes in the balances of each component of AOCL:
| Actuarial Pension Losses |  | Foreign Currency Translation Adjustment |  |  |  |  |  | Unrealized Losses on Derivative Contracts |  | Total Accumulated Comprehensive Loss
| (in millions)
Balance at June 30, 2023 | $ | (2) |  |  | $ | (357) |  |  |  |  |  |  | $ | (157) |  |  | $ | (516) |
Other comprehensive loss before reclassifications | — |  |  | (38) |  |  |  |  |  |  | (101) |  |  | (139) |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | — |  |  |  |  |  |  | 43 |  |  | 43 |
Income tax benefit related to items of other comprehensive loss | — |  |  | 1 |  |  |  |  |  |  | 12 |  |  | 13 |
Net current-period other comprehensive loss | — |  |  | (37) |  |  |  |  |  |  | (46) |  |  | (83) |
Balance at September 29, 2023 | $ | (2) |  |  | $ | (394) |  |  |  |  |  |  | $ | (203) |  |  | $ | (599) |
During the three months ended September 29, 2023, the amounts reclassified out of AOCL were losses related to foreign exchange contracts that were substantially charged to Cost of revenue in the Condensed Consolidated Statements of Operations. As of September 29, 2023, substantially all existing net losses related to cash flow hedges recorded in AOCL are expected to be reclassified to earnings within the next twelve months. In addition, as of September 29, 2023, the Company did not have any foreign exchange forward contracts with credit-risk-related contingent features.

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