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Net Income Per Common Share
 9 Months Ended
Apr. 03, 2026
Earnings Per Share [Abstract]  
Net Income Per Common Share Net Income Per Common Share
The following table presents the computation of basic and diluted income per common share:
Three Months EndedNine Months Ended
 April 3,
2026		March 28,
2025		April 3,
2026		March 28,
2025
(in millions, except per share data)
Net income from continuing operations
$3,205 $772 $6,229 $1,391 
Dividends allocated to preferred shareholders
(2)(4)(12)(12)
Income attributable to participating securities(1)
(35)(13)(111)(25)
Net income from continuing operations attributable to common shareholders - basic
3,168 755 6,106 1,354 
Net income (loss) from discontinued operations, net of taxes, attributable to common shareholders
— (248)— 213 
Net income attributable to common shareholders - basic
$3,168 $507 $6,106 $1,567 
Net income from continuing operations attributable to common shareholders - basic
$3,168 $755 $6,106 $1,354 
Re-allocation of participating securities considered potentially dilutive
4 — 10 1 
Net income from continuing operations attributable to common shareholders - diluted
3,172 755 6,116 1,355 
Net income (loss) from discontinued operations, net of taxes, attributable to common shareholders
— (248)— 213 
Net income attributable to common shareholders - diluted
$3,172 $507 $6,116 $1,568 
Weighted average shares:
Basic342 348 343 346 
RSUs, PSUs, ESPP, and convertible notes45 10 38 12 
Diluted387 358 381 358 
Net income (loss) per common share:
Basic:
Continuing operations
$9.26 $2.17 $17.80 $3.91 
Discontinued operations
— (0.71)— 0.62 
Net income per common share
9.26 1.46 17.80 4.53 
Diluted:
Continuing operations
8.20 2.11 16.05 3.79 
Discontinued operations
— (0.69)— 0.59 
Net income per common share
8.20 1.42 16.05 4.38 
(1)     Participating securities consisted of Preferred Shares because, prior to their conversion, they participated on a pro rata basis in any dividends declared on shares of common stock.

Basic net income per common share is computed using (i) net income less (ii) dividends allocated to preferred shareholders less (iii) net income attributable to participating securities divided by (iv) basic weighted average shares outstanding. Diluted net income per common share is computed as (i) basic net income attributable to common shareholders plus (ii) diluted adjustments to income allocable to participating securities divided by (iii) diluted weighted average shares outstanding. The “if-converted” method is used to determine the dilutive impact for the convertible notes and the preferred shares. The treasury stock method is used to determine the dilutive impact of unvested equity awards.
Potentially dilutive common shares include dilutive outstanding RSUs and PSUs, rights to purchase shares of common stock under the Company’s ESPP, shares issuable in connection with the Company’s convertible notes, and Preferred Shares. For the three and nine months ended April 3, 2026 and March 28, 2025, based on the Company’s average stock price during the period, an insignificant number of common shares subject to outstanding equity awards were anti-dilutive.