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Net Income (Loss) Per Common Share (Tables) | 6 Months Ended
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Dec. 27, 2024
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share, Basic and Diluted | The following table presents the computation of basic and diluted income (loss) per common share:
| Three Months Ended |  | Six Months Ended
| December 27, 2024 |  |  | December 29, 2023 |  | December 27, 2024 |  | December 29, 2023
| (in millions, except per share data)
Net income (loss) | $ | 594 |  |  |  | $ | (287) |  |  | $ | 1,087 |  |  | $ | (972) |
Less: dividends allocated to preferred shareholders | 4 |  |  |  | 14 |  |  | 8 |  |  | 29 |
Less: income attributable to participating securities(1) | 9 |  |  |  | — |  |  | 17 |  |  | — |
Net income (loss) attributable to common shareholders | 581 |  |  |  | (301) |  |  | 1,062 |  |  | (1,001) |
Re-allocation of participating securities considered potentially dilutive securities | — |  |  |  | — |  |  | 1 |  |  | — |
Diluted net income (loss) attributable to common shareholders | $ | 581 |  |  |  | $ | (301) |  |  | $ | 1,063 |  |  | $ | (1,001) |
Weighted average shares outstanding: |  |  |  |  |  |  |  |
Basic | 346 |  |  |  | 325 |  |  | 345 |  |  | 324 |
RSUs, PSUs, ESPP, and the convertible notes | 11 |  |  |  | — |  |  | 12 |  |  | — |
Diluted | 357 |  |  |  | 325 |  |  | 357 |  |  | 324 |
Net income (loss) per common share |  |  |  |  |  |  |  |
Basic | $ | 1.68 |  |  |  | $ | (0.93) |  |  | $ | 3.08 |  |  | $ | (3.09) |
Diluted | $ | 1.63 |  |  |  | $ | (0.93) |  |  | $ | 2.98 |  |  | $ | (3.09) |
Anti-dilutive potential common shares excluded | — |  |  |  | 14 |  |  | — |  |  | 14 |
(1) Preferred stock represents participating securities because they participate in any dividends on shares of common stock on a pari passu, pro rata basis. Preferred stock does not participate in undistributed net losses.

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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