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Income Tax Expense (Tables)

3 Months Ended

Sep. 29, 2023

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The following table presents the Company’s Income tax expense and the effective tax rate:

			Three Months Ended
			September 29, 2023						September 30, 2022
			($ in millions)
Income (loss) before taxes			$	(682)					$	84
Income tax expense			3						57
Effective tax rate			—		%				68		%

Schedule of Income Tax Contingencies

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits excluding accrued interest and penalties for the three months ended September 29, 2023 (in millions):

Accrual balance at June 30, 2023			$	1,021
Gross increases related to current year tax positions			2
Gross increases related to prior year tax positions			17
Gross decreases related to prior year tax positions			(3)
Settlements			(363)
Lapse of statute of limitations			(2)
Accrual balance at September 29, 2023			$	672

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- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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-Topic 740
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-Name Accounting Standards Codification
-Paragraph 12
-Section 50
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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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