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Related Parties and Related Commitments and Contingencies (Tables)

3 Months Ended

Sep. 27, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Notes Receivable and Investments in Related Parties

The following table presents the notes receivable from, and equity investments in, Flash Ventures:

			September 27, 2024						June 28, 2024
			(in millions)
Notes receivable, Flash Partners			$	—					$	1
Notes receivable, Flash Alliance			5						5
Notes receivable, Flash Forward			498						485
Investment in Flash Partners			169						149
Investment in Flash Alliance			236						216
Investment in Flash Forward			143						135
Total notes receivable and investments in Flash Ventures			$	1,051					$	991

Schedule of Variable Interest Entity Maximum Loss Exposure

The Company’s maximum reasonably estimable loss exposure (excluding lost profits) as a result of its involvement with Flash Ventures, based upon the Japanese yen to U.S. dollar exchange rate at September 27, 2024, is presented below. Investments in Flash Ventures are denominated in Japanese yen, and the maximum estimable loss exposure excludes any cumulative translation adjustment due to revaluation from the Japanese yen to the U.S. dollar.

			September 27, 2024
			(in millions)
Notes receivable			$	503
Equity investments			548
Operating lease guarantees			1,558
Inventory and prepayments			1,166
Maximum estimable loss exposure			$	3,775

Schedule of Guarantor Obligations

The following table presents the Company’s portion of the remaining guarantee obligations under the Flash Ventures’ lease facilities in both Japanese yen and U.S. dollar-equivalent, based upon the Japanese yen to U.S. dollar exchange rate as of September 27, 2024.

			Lease Amounts
			(Japanese yen, in billions)						(U.S. dollar, in millions)
Total guarantee obligations			¥	222					$	1,558

Schedule of Remaining Guarantee Obligations

The following table details the breakdown of the Company’s remaining guarantee obligations between the principal amortization and the purchase option exercise price at the end of the term of the Flash Ventures lease agreements, in annual installments as of September 27, 2024 in U.S. dollars, based upon the Japanese yen to U.S. dollar exchange rate as of September 27, 2024:

Annual Installments						Payment of Principal Amortization						Purchase Option Exercise Price at Final Lease Terms						Guarantee Amount
						(in millions)
Remaining nine months of 2025						$	331					$	83					$	414
2026						428						126						554
2027						203						107						310
2028						81						103						184
2029						22						56						78
2030						2						16						18
Total guarantee obligations						$	1,067					$	491					$	1,558

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Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 460
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482425/460-10-50-4

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Disclosure of investments in and notes receivable from a joint venture accounted for under the equity-method.

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Represents the guarantor's disclosures which should include the information about each guarantee, or each group of similar guarantees, even if the likelihood of the guarantor's having to make any payments under the guarantee is remote. This excludes disclosures for product warranties.

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Enterprise's maximum exposure to loss as a result of its involvement with the VIE, including how the maximum exposure is determined, the significant sources of the enterprise's exposure to the VIE, and the differences between the maximum exposure to loss and the liability recognized in its financial statements. It may also include factors such as the fair market value at which the registrant is carrying an asset and registrant guarantees. Also, whether the enterprise's maximum exposure to loss as a result of its involvement with the VIE cannot be quantified. In general, a VIE is a corporation, partnership, trust, or any other legal structure used for business purposes that either (a) does not have equity investors with voting rights or (b) has equity investors that do not provide sufficient financial resources for the entity to support its activities. A VIE often holds financial assets, including loans or receivables, real estate or other property. A VIE may be essentially passive or it may engage in research and development or other activities on behalf of another company.

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