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Net Loss Per Common Share | 6 Months Ended
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Dec. 29, 2023
Earnings Per Share [Abstract] |
Net Loss Per Common Share | Net Loss Per Common Share The following table presents the computation of basic and diluted loss per common share:
| Three Months Ended |  | Six Months Ended
| December 29, 2023 |  |  | December 30, 2022 |  | December 29, 2023 |  | December 30, 2022
| (in millions, except per share data)
Net loss | $ | (287) |  |  |  | $ | (451) |  |  | $ | (972) |  |  | $ | (404) |
Less: cumulative dividends on Preferred Stock | 14 |  |  |  | — |  |  | 29 |  |  | — |
Net loss attributable to common shareholders | $ | (301) |  |  |  | $ | (451) |  |  | $ | (1,001) |  |  | $ | (404) |
Weighted average shares outstanding: |  |  |  |  |  |  |  |
Basic | 325 |  |  |  | 318 |  |  | 324 |  |  | 317 |
Diluted | 325 |  |  |  | 318 |  |  | 324 |  |  | 317 |
Net loss per common share |  |  |  |  |  |  |  |
Basic | $ | (0.93) |  |  |  | $ | (1.42) |  |  | $ | (3.09) |  |  | $ | (1.27) |
Diluted | $ | (0.93) |  |  |  | $ | (1.42) |  |  | $ | (3.09) |  |  | $ | (1.27) |
Anti-dilutive potential common shares excluded | 14 |  |  |  | 15 |  |  | 14 |  |  | 15 |
Basic net loss per share attributable to common shareholders is computed using (i) net loss less (ii) dividends paid to holders of Preferred Shares less (iii) net loss attributable to participating securities divided by (iv) weighted average basic shares outstanding. Diluted net income or loss per share attributable to common shareholders is computed as (i) basic net loss attributable to common shareholders plus (ii) diluted adjustments to income allocable to participating securities divided by (iii) weighted average diluted shares outstanding. The "if-converted" method is used to determine the dilutive impact for the convertible notes and the Preferred Shares. The treasury stock method is used to determine the dilutive impact of unvested equity awards. Potentially dilutive common shares include dilutive outstanding employee stock options, RSUs and PSUs, rights to purchase shares of common stock under the Company’s ESPP, shares issuable in connection with the Company’s convertible notes, and the Preferred Shares. For the three and six months ended December 29, 2023 and December 30, 2022, the Company recorded a net loss and all shares subject to outstanding equity awards were excluded from the calculation of diluted shares for those periods because their impact would have been anti-dilutive.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3 + Details
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