XML 36 R20.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Net Income (Loss) Per Common Share | 9 Months Ended
--- | ---
Mar. 29, 2024
Earnings Per Share [Abstract] |
Net Income (Loss) Per Common Share | Net Income (Loss) Per Common Share The following table presents the computation of basic and diluted income (loss) per common share:
| Three Months Ended |  | Nine Months Ended
| March 29, 2024 |  |  | March 31, 2023 |  | March 29, 2024 |  | March 31, 2023
| (in millions, except per share data)
Net income (loss) | $ | 135 |  |  |  | $ | (571) |  |  | $ | (837) |  |  | $ | (975) |
Less: cumulative dividends on Preferred Stock | 15 |  |  |  | 9 |  |  | 44 |  |  | 9 |
Less: income attributable to participating securities(1) | 7 |  |  |  | — |  |  | — |  |  | — |
Net income (loss) attributable to common shareholders | $ | 113 |  |  |  | $ | (580) |  |  | $ | (881) |  |  | $ | (984) |
Weighted average shares outstanding: |  |  |  |  |  |  |  |
Basic | 326 |  |  |  | 319 |  |  | 324 |  |  | 318 |
RSUs, PSUs, ESPP, and the convertible notes | 9 |  |  |  | — |  |  | — |  |  | — |
Diluted | 335 |  |  |  | 319 |  |  | 324 |  |  | 318 |
Net income (loss) per common share |  |  |  |  |  |  |  |
Basic | $ | 0.35 |  |  |  | $ | (1.82) |  |  | $ | (2.72) |  |  | $ | (3.09) |
Diluted | $ | 0.34 |  |  |  | $ | (1.82) |  |  | $ | (2.72) |  |  | $ | (3.09) |
Anti-dilutive potential common shares excluded | — |  |  |  | 15 |  |  | 13 |  |  | 15 |
(1) Preferred Stock represents participating securities because they participate in any dividends on shares of common stock on a pari passu, pro rata basis. Preferred Stock does not participate in undistributed net losses. Basic net income (loss) per share attributable to common shareholders is computed using (i) net income (loss) less (ii) dividends paid to holders of Preferred Shares less (iii) net income (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 income (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 months ended March 29, 2024, all common shares subject to outstanding equity awards are included in the calculation of diluted shares based on the Company’s average stock price during the period. For the three months ended March 31, 2023 and the nine months ended March 29, 2024 and March 31, 2023, 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.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration