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Business Segments, Geographic Information, and Concentrations of Risk (Tables) | 6 Months Ended
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Dec. 29, 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 |  | Six Months Ended
| December 29, 2023 |  | December 30, 2022 |  | December 29, 2023 |  | December 30, 2022
| $ in millions
Net revenue: |  |  |  |  |  |  |
Flash | $ | 1,665 |  |  | $ | 1,657 |  |  | $ | 3,221 |  |  | $ | 3,379 |
HDD | 1,367 |  |  | 1,450 |  |  | 2,561 |  |  | 3,464 |
Total net revenue | $ | 3,032 |  |  | $ | 3,107 |  |  | $ | 5,782 |  |  | $ | 6,843 |
Gross profit: |  |  |  |  |  |  |
Flash | $ | 131 |  |  | $ | 240 |  |  | $ | (30) |  |  | $ | 662 |
HDD | 339 |  |  | 300 |  |  | 612 |  |  | 874 |
Total gross profit for segments | 470 |  |  | 540 |  |  | 582 |  |  | 1,536 |
Unallocated corporate items: |  |  |  |  |  |  |
Stock-based compensation expense | (13) |  |  | (12) |  |  | (26) |  |  | (26) |
Amortization of acquired intangible assets | (1) |  |  | — |  |  | (1) |  |  | (1) |
Recovery from contamination incident | 36 |  |  | — |  |  | 36 |  |  | — |
Total unallocated corporate items | 22 |  |  | (12) |  |  | 9 |  |  | (27) |
Consolidated gross profit | $ | 492 |  |  | $ | 528 |  |  | $ | 591 |  |  | $ | 1,509 |
Gross margin: |  |  |  |  |  |  |
Flash | 7.9 | % |  | 14.5 | % |  | (0.9) | % |  | 19.6 | %
HDD | 24.8 | % |  | 20.7 | % |  | 23.9 | % |  | 25.2 | %
Consolidated gross margin | 16.2 | % |  | 17.0 | % |  | 10.2 | % |  | 22.1 | %
Schedule of Disaggregation of Revenue | The Company’s disaggregated revenue information is as follows:
| Three Months Ended |  | Six Months Ended
| December 29, 2023 |  | December 30, 2022 |  | December 29, 2023 |  | December 30, 2022
| (in millions)
Revenue by End Market |  |  |  |  |  |  |
Cloud | $ | 1,071 |  |  | $ | 1,224 |  |  | $ | 1,943 |  |  | $ | 3,053 |
Client | 1,122 |  |  | 1,089 |  |  | 2,269 |  |  | 2,318 |
Consumer | 839 |  |  | 794 |  |  | 1,570 |  |  | 1,472 |
Total Revenue | $ | 3,032 |  |  | $ | 3,107 |  |  | $ | 5,782 |  |  | $ | 6,843 |
Revenue by Geography |  |  |  |  |  |  |
Asia | $ | 1,699 |  |  | $ | 1,494 |  |  | $ | 3,250 |  |  | $ | 3,180 |
Americas | 804 |  |  | 1,090 |  |  | 1,466 |  |  | 2,513 |
Europe, Middle East and Africa | 529 |  |  | 523 |  |  | 1,066 |  |  | 1,150 |
Total Revenue | $ | 3,032 |  |  | $ | 3,107 |  |  | $ | 5,782 |  |  | $ | 6,843 |
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 | 1 |  |  | (1) |  |  | — |
Balance at December 29, 2023 | $ | 5,717 |  |  | $ | 4,320 |  |  | $ | 10,037 |

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