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Net Income (Loss) Per Common Share (Tables) | 9 Months Ended
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Mar. 28, 2025
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 |  | Nine Months Ended
| March 28, 2025 |  |  | March 29, 2024 |  | March 28, 2025 |  | March 29, 2024
| (in millions, except per share data)
Net income (loss) from continuing operations | $ | 772 |  |  |  | $ | (8) |  |  | $ | 1,391 |  |  | $ | (519) |
Less: dividends allocated to preferred shareholders | 4 |  |  |  | 15 |  |  | 12 |  |  | 44 |
Less: income attributable to participating securities(1) | 13 |  |  |  | (1) |  |  | 25 |  |  | — |
Net income (loss) from continuing operations attributable to common shareholders - basic | 755 |  |  |  | (22) |  |  | 1,354 |  |  | (563) |
Net income (loss) from discontinued operations, net of taxes | (248) |  |  |  | 135 |  |  | 213 |  |  | (318) |
Net income (loss) attributable to common shareholders - basic | $ | 507 |  |  |  | $ | 113 |  |  | $ | 1,567 |  |  | $ | (881) |
Net income (loss) from continuing operations attributable to common shareholders - basic | $ | 755 |  |  |  | $ | (22) |  |  | $ | 1,354 |  |  | $ | (563) |
Re-allocation of participating securities considered potentially dilutive securities | — |  |  |  | — |  |  | 1 |  |  | — |
Net income (loss) from continuing operations attributable to common shareholders - diluted | 755 |  |  |  | (22) |  |  | 1,355 |  |  | (563) |
Net income (loss) from discontinued operations, net of taxes | (248) |  |  |  | 135 |  |  | 213 |  |  | (318) |
Net income (loss) attributable to common shareholders - diluted | $ | 507 |  |  |  | $ | 113 |  |  | $ | 1,568 |  |  | $ | (881) |
Weighted average shares outstanding: |  |  |  |  |  |  |  |
Basic | 348 |  |  |  | 326 |  |  | 346 |  |  | 324 |
RSUs, PSUs, ESPP, and the convertible notes | 10 |  |  |  | 9 |  |  | 12 |  |  | — |
Diluted | 358 |  |  |  | 335 |  |  | 358 |  |  | 324 |
Net income (loss) per common share |  |  |  |  |  |  |  |
Continuing operations - basic | $ | 2.17 |  |  |  | $ | (0.07) |  |  | $ | 3.91 |  |  | $ | (1.74) |
Discontinued operations - basic | $ | (0.71) |  |  |  | $ | 0.42 |  |  | $ | 0.62 |  |  | $ | (0.98) |
Net income (loss) per common share - basic | $ | 1.46 |  |  |  | $ | 0.35 |  |  | $ | 4.53 |  |  | $ | (2.72) |
Continuing operations - diluted | $ | 2.11 |  |  |  | $ | (0.07) |  |  | $ | 3.79 |  |  | $ | (1.74) |
Discontinued operations - diluted | $ | (0.69) |  |  |  | $ | 0.41 |  |  | $ | 0.59 |  |  | $ | (0.98) |
Net income (loss) per common share - diluted | $ | 1.42 |  |  |  | $ | 0.34 |  |  | $ | 4.38 |  |  | $ | (2.72) |
Anti-dilutive potential common shares excluded | — |  |  |  | — |  |  | — |  |  | 13 |
(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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