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Business Segments, Geographic Information, and Concentrations of Risk (Tables) | 12 Months Ended
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Jun. 28, 2024
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information, by Segment | The following table summarizes the operating performance of the Company’s reportable segments:
| 2024 |  | 2023 |  | 2022 |  |
| (in millions, except percentages) |  |
Revenue, net: |  |  |  |  |  |  |
Flash | $ | 6,687 |  |  | $ | 6,063 |  |  | $ | 9,753 |  |  |
HDD | 6,316 |  |  | 6,255 |  |  | 9,040 |  |  |
Total net revenue | $ | 13,003 |  |  | $ | 12,318 |  |  | $ | 18,793 |  |  |
Gross profit: |  |  |  |  |  |  |
Flash | $ | 1,079 |  |  | $ | 433 |  |  | $ | 3,527 |  |  |
HDD | 1,881 |  |  | 1,505 |  |  | 2,661 |  |  |
Total gross profit for segments | 2,960 |  |  | 1,938 |  |  | 6,188 |  |  |
Unallocated corporate items: |  |  |  |  |  |  |
Stock-based compensation expense | (49) |  |  | (49) |  |  | (48) |  |  |
Amortization of acquired intangible assets | (3) |  |  | — |  |  | (66) |  |  |
Recovery from contamination incident | 37 |  |  | — |  |  | — |  |  |
Contamination related charges | — |  |  | — |  |  | (207) |  |  |
Recoveries from a power outage incident | — |  |  | — |  |  | 7 |  |  |
Other | — |  |  | (2) |  |  | — |  |  |
Total unallocated corporate items | (15) |  |  | (51) |  |  | (314) |  |  |
Consolidated gross profit | $ | 2,945 |  |  | $ | 1,887 |  |  | $ | 5,874 |  |  |
Gross margin: |  |  |  |  |  |  |
Flash | 16.1 | % |  | 7.1 | % |  | 36.2 | % |  |
HDD | 29.8 | % |  | 24.1 | % |  | 29.4 | % |  |
Consolidated gross margin | 22.6 | % |  | 15.3 | % |  | 31.3 | % |  |
Schedule of Disaggregation of Revenue | The Company’s disaggregated revenue information is as follows:
| 2024 |  | 2023 |  | 2022
| (in millions)
Revenue by end market |  |  |  |  |
Cloud | $ | 5,378 |  |  | $ | 5,252 |  |  | $ | 8,017 |
Client | 4,647 |  |  | 4,328 |  |  | 7,076 |
Consumer | 2,978 |  |  | 2,738 |  |  | 3,700 |
Total revenue | $ | 13,003 |  |  | $ | 12,318 |  |  | $ | 18,793 |
Schedule of Revenue from External Customers by Geographic Areas | The Company’s operations outside the United States include manufacturing facilities in China, Japan, Malaysia, the Philippines and Thailand, as well as sales offices throughout the Americas, Asia Pacific, Europe, the Middle East and Africa. The following tables summarize the Company’s operations by geographic area:
| 2024 |  | 2023 |  | 2022
| (in millions)
Net revenue (1) |  |  |  |  |
United States | $ | 3,585 |  |  | $ | 3,810 |  |  | $ | 5,411 |
China | 3,037 |  |  | 2,773 |  |  | 4,525 |
Hong Kong | 2,375 |  |  | 1,829 |  |  | 3,645 |
Rest of Asia | 1,490 |  |  | 1,444 |  |  | 1,884 |
Europe, Middle East and Africa | 2,130 |  |  | 2,100 |  |  | 2,872 |
Other | 386 |  |  | 362 |  |  | 456 |
Total | $ | 13,003 |  |  | $ | 12,318 |  |  | $ | 18,793 |
(1) Net revenue is attributed to geographic regions based on the ship-to location of the customer. License and royalty revenue is attributed to countries based upon the location of the headquarters of the licensee.
Schedule of Long-lived Assets by Geographic Areas |
| 2024 |  | 2023
| (in millions)
Long-lived assets (1) |  |  |
United States | $ | 897 |  |  | $ | 1,071 |
Malaysia | 718 |  |  | 861 |
China | 338 |  |  | 397 |
Thailand | 825 |  |  | 851 |
Rest of Asia | 353 |  |  | 393 |
Europe, Middle East and Africa | 36 |  |  | 47 |
Total | $ | 3,167 |  |  | $ | 3,620 |
(1) Long-lived assets include property, plant and equipment and are attributed to the geographic location in which they are located.
Schedule of Goodwill | The following table provides a summary of goodwill activity for the period:
| Flash |  | HDD |  | Total
| (in millions)
Balance at June 30, 2023 | $ | 5,716 |  |  | $ | 4,321 |  |  | $ | 10,037 |
Foreign currency translation adjustment | (3) |  |  | (2) |  |  | (5) |
Balance at June 28, 2024 | $ | 5,713 |  |  | $ | 4,319 |  |  | $ | 10,032 |

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