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Supplemental Financial Statement Data (Tables) | 3 Months Ended
--- | ---
Sep. 27, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Inventories | Inventories
| September 27, 2024 |  | June 28, 2024
| (in millions)
Inventories: |  |  |
Raw materials and component parts | $ | 1,897 |  |  | $ | 1,727 |
Work-in-process | 979 |  |  | 1,066 |
Finished goods | 508 |  |  | 549 |
Total inventories | $ | 3,384 |  |  | $ | 3,342 |
Schedule of Property, Plant and Equipment, Net | Property, plant and equipment, net
| September 27, 2024 |  | June 28, 2024
| (in millions)
Property, plant and equipment: |  |  |
Land and improvements | $ | 235 |  |  | $ | 235 |
Buildings and improvements | 1,706 |  |  | 1,820 |
Machinery and equipment | 7,783 |  |  | 8,646 |
Computer equipment and software | 452 |  |  | 471 |
Furniture and fixtures | 51 |  |  | 54 |
Construction-in-process | 798 |  |  | 797 |
Property, plant and equipment, gross | 11,025 |  |  | 12,023 |
Accumulated depreciation | (8,108) |  |  | (8,856) |
Property, plant and equipment, net | $ | 2,917 |  |  | $ | 3,167 |
Schedule of Product Warranty Liability | Product warranty liability Changes in the warranty accrual were as follows:
| Three Months Ended |  |  |  |
| September 27, 2024 |  | September 29, 2023 |  |  |  |  |  |
| (in millions)
Warranty accrual, beginning of period | $ | 189 |  |  | $ | 244 |  |  |  |  |  |  |
Charges to operations | 25 |  |  | 22 |  |  |  |  |  |  |
Utilization | (37) |  |  | (43) |  |  |  |  |  |  |
Changes in estimate related to pre-existing warranties | (17) |  |  | (5) |  |  |  |  |  |  |
Warranty accrual, end of period | $ | 160 |  |  | $ | 218 |  |  |  |  |  |  |
The current portion of the warranty accrual was classified in Accrued expenses and the long-term portion was classified in Other liabilities as noted below:
| September 27, 2024 |  | June 28, 2024 |  |  |  |  |  |
| (in millions)
Warranty accrual: |  |  |  |  |  |  |  |  |
Current portion | $ | 58 |  |  | $ | 36 |  |  |  |  |  |  |
Long-term portion | 102 |  |  | 153 |  |  |  |  |  |  |
Total warranty accrual | $ | 160 |  |  | $ | 189 |  |  |  |  |  |  |
Schedule of Other Liabilities | Other liabilities
| September 27, 2024 |  | June 28, 2024
| (in millions)
Other liabilities: |  |  |
Non-current net tax payable | $ | — |  |  | $ | 201 |
Non-current portion of unrecognized tax benefits | 595 |  |  | 565 |
Other non-current liabilities | 563 |  |  | 604 |
Total other liabilities | $ | 1,158 |  |  | $ | 1,370 |
Schedule of Accumulated Other Comprehensive Loss | The components of AOCL were as follows:
| Actuarial Pension Gains |  | Foreign Currency Translation Adjustment |  |  |  | Unrealized Losses on Derivative Contracts |  | Total Accumulated Comprehensive Loss
| (in millions)
Balance at June 28, 2024 | $ | 14 |  |  | $ | (505) |  |  |  |  | $ | (221) |  |  | $ | (712) |
Other comprehensive income before reclassifications | — |  |  | 121 |  |  |  |  | 182 |  |  | 303 |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | — |  |  |  |  | 61 |  |  | 61 |
Income tax expense related to items of other comprehensive income | — |  |  | — |  |  |  |  | (52) |  |  | (52) |
Net current-period other comprehensive income | — |  |  | 121 |  |  |  |  | 191 |  |  | 312 |
Balance at September 27, 2024 | $ | 14 |  |  | $ | (384) |  |  |  |  | $ | (30) |  |  | $ | (400) |
Schedule of Assets and Liabilities Classified as Held For Sale | Instead, the assets and liabilities of SDSS subject to the Transaction as listed below have been reclassified to held for sale as of September 27, 2024, and will be derecognized in the second quarter of fiscal 2025 in connection with the closing of the Transaction.
| September 27, 2024
| (in millions)
Cash and cash equivalents | $ | 71 |
Inventories | 35 |
Other current assets | 6 |
Property, plant and equipment, net | 236 |
Goodwill (1) | 225 |
Other non-current assets | 24 |
Total assets held for sale (2) | $ | 597 |
Accounts payable | $ | 73 |
Accrued expenses | 17 |
Accrued compensation | 15 |
Other liabilities | 5 |
Total liabilities held for sale | $ | 110 |
(1) Goodwill was preliminarily allocated to SDSS based on the indicated fair value of the SDSS business relative to the total estimated fair value of the Flash business unit. This preliminary allocation of goodwill may be revised based on finalization of working capital adjustments and valuations of SDSS and the Flash business unit in connection with the derecognition of SDSS during the second quarter of fiscal 2025. (2) An intercompany account receivable and intercompany account payable totaling $110 million between SDSS and another subsidiary of the Company are eliminated in the Company’s Condensed Consolidated Financial Statements and have been excluded from the assets reclassified to held for sale. The intercompany account receivable was sold as part of the Transaction, and thus will be considered when determining the expected gain to be recognized upon the derecognition of SDSS. As a result, during the second quarter of fiscal 2025, the Company will reclassify this intercompany account payable to the applicable liability line item in the Condensed Consolidated Balance Sheets as it will represent a liability to an external third party.

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