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Discontinued Operations (Tables) | 12 Months Ended
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Jun. 27, 2025
Discontinued Operations and Disposal Groups [Abstract] |
Disposal Groups, Including Discontinued Operations | The following table provides a summary of the assets and liabilities classified as discontinued operations:
Assets and Liabilities of Discontinued Operations |  | June 28, 2024
|  | (in millions)
Assets
Cash and cash equivalents |  | $ | 328 |
Accounts receivable, net |  | 935 |
Inventories |  | 1,955 |
Other current assets |  | 313 |
Current assets of discontinued operations |  | $ | 3,531 |
Property, plant and equipment, net |  | $ | 808 |
Notes receivable and investments in Flash Ventures |  | 991 |
Goodwill |  | 5,713 |
Other non-current assets |  | 1,101 |
Non-current assets of discontinued operations |  | $ | 8,613 |
Liabilities
Accounts payable |  | $ | 357 |
Accounts payable to related parties |  | 313 |
Accrued expenses |  | 427 |
Income taxes payable |  | 54 |
Accrued compensation |  | 173 |
Current liabilities of discontinued operations |  | $ | 1,324 |
Non-current liabilities of discontinued operations |  | $ | 368 |
The following table provides a summary of net income (loss) from discontinued operations, net of taxes:
Net Income (Loss) from Discontinued Operations, Net of Taxes |  | 2025 |  | 2024 |  | 2023 |  |  |
|  | (in millions) |  |
Revenue, net |  | $ | 4,361 |  |  | $ | 6,686 |  |  | $ | 6,063 |  |  |  |
Cost of revenue |  | 2,892 |  |  | 5,514 |  |  | 5,567 |  |  |  |
Operating expenses: |  |  |  |  |  |  |  |  |
Research and development |  | 718 |  |  | 957 |  |  | 1,023 |  |  |  |
Selling, general and administrative |  | 229 |  |  | 102 |  |  | 163 |  |  |  |
Gain on business divestiture |  | (113) |  |  | — |  |  | — |  |  |  |
Business separation costs |  | 144 |  |  | 97 |  |  | — |  |  |  |
Business realignment charges |  | 3 |  |  | (70) |  |  | 47 |  |  |  |
Operating income (loss) |  | 488 |  |  | 86 |  |  | (737) |  |  |  |
Total interest and other income (expense), net |  | (36) |  |  | (8) |  |  | 36 |  |  |  |
Income (loss) before taxes |  | 452 |  |  | 78 |  |  | (701) |  |  |  |
Income tax expense |  | 206 |  |  | 111 |  |  | 81 |  |  |  |
Net income (loss) from discontinued operations, net of taxes |  | $ | 246 |  |  | $ | (33) |  |  | $ | (782) |  |  |  |
The following table provides selected financial information related to cash flows from discontinued operations:
Select Cash Flow Information from Discontinued Operations |  | 2025 |  | 2024 |  | 2023
|  | (in millions)
Depreciation and amortization |  | $ | 115 |  |  | $ | 221 |  |  | $ | 439 |
Purchases of property, plant and equipment |  | 139 |  |  | 166 |  |  | 219 |
Stock-based compensation |  | 98 |  |  | 92 |  |  | 106 |

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