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Fair Value Measurements and Investments (Tables) | 3 Months Ended
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Sep. 27, 2024
Fair Value Disclosures [Abstract] |
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | The following tables present information about the Company’s financial instruments that were measured at fair value on a recurring basis for the periods presented, and indicate the fair value hierarchy of the valuation techniques utilized to determine such values:
| September 27, 2024
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (in millions)
Assets: |  |  |  |  |  |  |
Cash equivalents - Money market funds | $ | 269 |  |  | $ | — |  |  | $ | — |  |  | $ | 269 |
Foreign exchange contracts | — |  |  | 106 |  |  | — |  |  | 106 |
Total assets at fair value | $ | 269 |  |  | $ | 106 |  |  | $ | — |  |  | $ | 375 |
Liabilities: |  |  |  |  |  |  |
Foreign exchange contracts | $ | — |  |  | $ | 22 |  |  | $ | — |  |  | $ | 22 |
Total liabilities at fair value | $ | — |  |  | $ | 22 |  |  | $ | — |  |  | $ | 22 |
| June 28, 2024
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (in millions)
Assets: |  |  |  |  |  |  |
Cash equivalents - Money market funds | $ | 416 |  |  | $ | — |  |  | $ | — |  |  | $ | 416 |
Foreign exchange contracts | — |  |  | 8 |  |  | — |  |  | 8 |
Total assets at fair value | $ | 416 |  |  | $ | 8 |  |  | $ | — |  |  | $ | 424 |
Liabilities: |  |  |  |  |  |  |
Foreign exchange contracts | $ | — |  |  | $ | 197 |  |  | $ | — |  |  | $ | 197 |
Total liabilities at fair value | $ | — |  |  | $ | 197 |  |  | $ | — |  |  | $ | 197 |
Schedule of Related Costs and Fair Values Based on Quoted Market Prices | For financial instruments where the carrying value (which includes principal adjusted for any unamortized issuance costs, and discounts or premiums) differs from fair value (which is based on quoted market prices), the following table represents the related carrying value and fair value for each of the Company’s outstanding financial instruments. Each of the financial instruments presented below was categorized as Level 2 for all periods presented, based on the frequency of trading immediately prior to the end of the first quarter of 2025 and the fourth quarter of 2024, respectively.
| September 27, 2024 |  | June 28, 2024
| Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
| (in millions)
3.00% convertible notes due 2028 | $ | 1,569 |  |  | $ | 2,402 |  |  | $ | 1,568 |  |  | $ | 2,556 |
4.75% senior unsecured notes due 2026 | 2,296 |  |  | 2,285 |  |  | 2,296 |  |  | 2,253 |
Variable interest rate Term Loan A-2 maturing 2027 | 2,542 |  |  | 2,505 |  |  | 2,578 |  |  | 2,539 |
2.85% senior notes due 2029 | 497 |  |  | 456 |  |  | 496 |  |  | 434 |
3.10% senior notes due 2032 | 496 |  |  | 430 |  |  | 496 |  |  | 407 |
Total | $ | 7,400 |  |  | $ | 8,078 |  |  | $ | 7,434 |  |  | $ | 8,189 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Comparison and disclosure of financial instruments where the carrying value in the financial statements differs from the fair value. + References No definition available. + Details
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