XML 31 R15.htm IDEA: XBRL DOCUMENT v3.24.3
Pension and Other Post-Retirement Benefit Plans
 3 Months Ended
Sep. 27, 2024
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:
September 27,
2024		June 28,
2024
(in millions)
Benefit obligation at end of period$267 $244 
Fair value of plan assets at end of period198 184 
Unfunded status$69 $60 

The following table presents the unfunded amounts related to the Pension Plans as recognized on the Company’s Condensed Consolidated Balance Sheets:
September 27,
2024		June 28,
2024
(in millions)
Current liabilities (included in Accrued expenses)
$1 $1 
Non-current liabilities (included in Other liabilities)
68 59 
Net amount recognized$69 $60 

Net periodic benefit costs were immaterial for the three months ended September 27, 2024 and September 29, 2023.