XML 26 R15.htm IDEA: XBRL DOCUMENT v3.24.0.1
Pension and Other Post-Retirement Benefit Plans
 6 Months Ended
Dec. 29, 2023
Retirement Benefits [Abstract]  
Pension and Other Post-Retirement Benefit Plans Pension and Other Post-Retirement Benefit Plans
The Company has pension and other post-retirement benefit plans in various countries. The Company’s principal pension plans are in Japan, Thailand and the Philippines. All pension and other post-retirement benefit plans outside of the Company’s Japan, Thailand and the Philippines defined benefit pension plans (the “Pension Plans”) are immaterial to the Condensed Consolidated Financial Statements. The expected long-term rate of return on the Pension Plans assets is 2.5%.

Obligations and Funded Status

The following table presents the unfunded status of the benefit obligations for the Pension Plans:
December 29,
2023		June 30,
2023
(in millions)
Benefit obligation at end of period$273 $273 
Fair value of plan assets at end of period188 185 
Unfunded status$85 $88 

The following table presents the unfunded amounts related to the Pension Plans as recognized on the Company’s Condensed Consolidated Balance Sheets:
December 29,
2023		June 30,
2023
(in millions)
Current liabilities$1 $1 
Non-current liabilities84 87 
Net amount recognized$85 $88 
Net periodic benefit costs were not material for the three and six months ended December 29, 2023.