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Supplemental Financial Statement Data | 12 Months Ended
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Jun. 27, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supplemental Financial Statement Data | Supplemental Financial Statement Data Accounts receivable, net From time to time, in connection with factoring agreements, the Company sells trade accounts receivable without recourse to third-party purchasers in exchange for cash. In 2025, the Company sold no trade accounts receivable. In 2024 and 2023, the Company sold trade accounts receivable aggregating to $284 million and $406 million, respectively. The discounts on the trade accounts receivable sold during the periods were not material and were recorded within Other income (expense), net in the Consolidated Statements of Operations. As of June 27, 2025 and June 28, 2024, no factored receivables were outstanding. Inventories
| June 27, 2025 |  | June 28, 2024
| (in millions)
Inventories: |  |  |
Raw materials and component parts | $ | 227 |  |  | $ | 329 |
Work-in-process | 785 |  |  | 829 |
Finished goods | 279 |  |  | 229 |
Total inventories | $ | 1,291 |  |  | $ | 1,387 |
Property, plant and equipment, net
| June 27, 2025 |  | June 28, 2024
| (in millions)
Property, plant and equipment: |  |  |
Land and improvements | $ | 225 |  |  | $ | 225 |
Buildings and improvements | 1,550 |  |  | 1,419 |
Machinery and equipment | 6,488 |  |  | 6,301 |
Computer equipment and software | 257 |  |  | 313 |
Furniture and fixtures | 33 |  |  | 32 |
Construction-in-process | 532 |  |  | 685 |
Property, plant and equipment, gross | 9,085 |  |  | 8,975 |
Accumulated depreciation | (6,742) |  |  | (6,616) |
Property, plant and equipment, net | $ | 2,343 |  |  | $ | 2,359 |
Depreciation expense for property, plant and equipment totaled $334 million, $347 million and $389 million in 2025, 2024 and 2023, respectively. Other intangible assets, net The Company has acquired IPR&D for projects in progress that had not yet reached technological feasibility at the time of acquisition. IPR&D is initially accounted for as an indefinite-lived intangible asset at the time of acquisition. Once a project reaches technological feasibility, the Company reclassifies the balance to existing technology and begins to amortize the intangible asset over its estimated useful life. As of both June 27, 2025 and June 28, 2024, Other non-current assets included $72 million of IPR&D. During 2025, 2024 and 2023, the Company did not record any impairment charges related to IPR&D. Non-current assets
| June 27, 2025 |  | June 28, 2024
| (in millions)
Non-current assets: |  |  |
Deferred tax assets | $ | 1,007 |  |  | $ | 225 |
Other non-current assets | 477 |  |  | 612 |
Total non-current assets | $ | 1,484 |  |  | $ | 837 |
Product warranty liability Changes in the warranty accrual were as follows:
|  |  |  |  | 2025 |  | 2024 |  | 2023
|  |  |  |  | (in millions)
Warranty accrual, beginning of period |  |  |  |  | $ | 142 |  |  | $ | 202 |  |  | $ | 293 |
Charges to operations |  |  |  |  | 99 |  |  | 79 |  |  | 76 |
Utilization |  |  |  |  | (83) |  |  | (119) |  |  | (143) |
Changes in estimate related to pre-existing warranties |  |  |  |  | (6) |  |  | (20) |  |  | (24) |
Warranty accrual, end of period |  |  |  |  | $ | 152 |  |  | $ | 142 |  |  | $ | 202 |
The current portion of the warranty accrual is classified in Accrued expenses and the long-term portion is classified in Other liabilities as noted below:
| June 27, 2025 |  | June 28, 2024 |  |  |  |  |  |
| (in millions)
Warranty accrual: |  |  |  |  |  |  |  |  |
Current portion (included in Accrued expenses) | $ | 57 |  |  | $ | 9 |  |  |  |  |  |  |
Long-term portion (included in Other liabilities) | 95 |  |  | 133 |  |  |  |  |  |  |
Total warranty accrual | $ | 152 |  |  | $ | 142 |  |  |  |  |  |  |
Other liabilities
| June 27, 2025 |  | June 28, 2024
| (in millions)
Other liabilities: |  |  |
Non-current net tax payable | $ | — |  |  | $ | 200 |
Non-current portion of unrecognized tax benefits | 163 |  |  | 443 |
Other non-current liabilities | 396 |  |  | 359 |
Total other liabilities | $ | 559 |  |  | $ | 1,002 |
Goodwill Management performed its annual goodwill impairment assessment as of the first day of its fourth quarter ended June 27, 2025 and concluded there were no impairment indicators as of June 27, 2025. The Company also did not incur any impairment charges for 2025, 2024 or 2023. The carrying amount of goodwill was $4.32 billion as of both June 27, 2025 and June 28, 2024. Accumulated other comprehensive income (loss) Accumulated other comprehensive income (loss), net of tax, refers to expenses, gains and losses that are recorded as an element of shareholders’ equity but are excluded from net income. The following table illustrates the changes in the balances of each component of Accumulated other comprehensive income (loss):
| Actuarial Pension Gains (Losses) |  | Foreign Currency Translation Adjustment |  |  |  |  |  | Unrealized Gains (Losses) on Derivative Contracts |  | Total Accumulated Comprehensive Income (Loss)
| (in millions)
Balance at June 30, 2023 | $ | (2) |  |  | $ | (389) |  |  |  |  |  |  | $ | (157) |  |  | $ | (548) |
Other comprehensive income (loss) before reclassifications | 23 |  |  | (115) |  |  |  |  |  |  | (331) |  |  | (423) |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | — |  |  |  |  |  |  | 244 |  |  | 244 |
Income tax benefit (expense) related to items of other comprehensive income (loss) | (7) |  |  | (1) |  |  |  |  |  |  | 23 |  |  | 15 |
Net current-period other comprehensive income (loss) | 16 |  |  | (116) |  |  |  |  |  |  | (64) |  |  | (164) |
Balance at June 28, 2024 | 14 |  |  | (505) |  |  |  |  |  |  | (221) |  |  | (712) |
Other comprehensive income before reclassifications | 3 |  |  | 45 |  |  |  |  |  |  | 31 |  |  | 79 |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | — |  |  |  |  |  |  | 149 |  |  | 149 |
Income tax expense related to items of other comprehensive income | (1) |  |  | — |  |  |  |  |  |  | (41) |  |  | (42) |
Net current-period other comprehensive income | 2 |  |  | 45 |  |  |  |  |  |  | 139 |  |  | 186 |
Distribution in connection with the Separation | — |  |  | 458 |  |  |  |  |  |  | 88 |  |  | 546 |
Balance at June 27, 2025 | $ | 16 |  |  | $ | (2) |  |  |  |  |  |  | $ | 6 |  |  | $ | 20 |
During 2025 and 2024, the amounts reclassified out of Accumulated other comprehensive income (loss) included losses of $149 million and $244 million, respectively, related to foreign exchange contracts. As of June 27, 2025, all existing net losses related to cash flow hedges recorded in Accumulated other comprehensive income (loss) are expected to be reclassified to earnings within the next twelve months.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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