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v3.25.1

Pension and Other Post-Retirement Benefit Plans | 9 Months Ended
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Mar. 28, 2025
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:
| March 28, 2025 |  | June 28, 2024 |  |
| (in millions)
Benefit obligation at end of period | $ | 256 |  |  | $ | 244 |  |  |
Fair value of plan assets at end of period | 188 |  |  | 184 |  |  |
Unfunded status | $ | 68 |  |  | $ | 60 |  |  |
The following table presents the unfunded amounts related to the Pension Plans as recognized on the Company’s Condensed Consolidated Balance Sheets:
| March 28, 2025 |  | June 28, 2024
| (in millions)
Current liabilities (included in Accrued expenses) | $ | 1 |  |  | $ | 1 |
Non-current liabilities (included in Other liabilities) | 67 |  |  | 59 |
Net amount recognized | $ | 68 |  |  | $ | 60 |
Net periodic benefit costs were immaterial for the three and nine months ended March 28, 2025 and March 29, 2024.

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