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Supplemental Financial Statement Data (Tables) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 27, 2024 | Jun. 28, 2024
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] |  |
Carrying Amount of Goodwill | The following table provides a summary of goodwill activity for the period presented:
|  | (in millions) |
Balance at June 28, 2024 |  | $ | 7,207 |
Divestiture (1) |  |  | (382 | )
Balance at December 27, 2024 |  | $ | 6,825 |
(1) | On September 28, 2024, the Company sold its majority interest in a subsidiary. See further discussion in Part 1, Item 1, Note 9, Related Parties and Related Commitments and Contingencies .
Schedule of Inventories | Inventories
|  | December 27, 2024 |  |  | June 28, 2024 |
|  | (in millions) |
Inventories: |  |  |  |  |  |  |  |
Raw materials and component parts |  | $ | 1,661 |  |  | $ | 1,398 |
Work-in-process |  |  | 208 |  |  |  | 237 |
Finished goods |  |  | 303 |  |  |  | 320 |
Total inventories |  | $ | 2,172 |  |  | $ | 1,955 |
Schedule of Property, Plant and Equipment, Net | Property, plant and equipment, net
|  | December 27, 2024 |  |  | June 28, 2024 |
|  | (in millions) |
Property, plant and equipment: |  |  |  |  |  |  |  |
Land |  | $ | 10 |  |  | $ | 10 |
Machinery and equipment |  |  | 1,463 |  |  |  | 2,340 |
Buildings and improvements |  |  | 280 |  |  |  | 397 |
Computer equipment and software |  |  | 153 |  |  |  | 123 |
Furniture and fixtures |  |  | 18 |  |  |  | 16 |
Construction-in-process |  |  | 114 |  |  |  | 108 |
Property, plant and equipment, gross |  |  | 2,038 |  |  |  | 2,994 |
Accumulated depreciation |  |  | (1,459 | ) |  |  | (2,203 | )
Property, plant and equipment, net |  | $ | 579 |  |  | $ | 791 |
Schedule of Product Warranty Liability | Product warranty liability Changes in the warranty accrual were as follows:
|  | Six Months Ended |
|  | December 27, 2024 |  |  | December 29, 2023 |
|  | (in millions) |
Warranty accrual, beginning of period |  | $ | 48 |  |  | $ | 42 |
Charges to operations |  |  | 9 |  |  |  | 15 |
Utilization |  |  | (17 | ) |  |  | (17 | )
Changes in estimate related to pre-existing warranties |  |  | 4 |  |  |  | 3 |
Warranty accrual, end of period |  | $ | 44 |  |  | $ | 43 |
The current portion of the warranty accrual was classified in Accrued expenses and the long-term portion was classified in Other liabilities as noted below:
|  | December 27, 2024 |  |  | June 28, 2024 |
|  | (in millions) |
Warranty accrual: |  |  |  |  |  |  |  |
Current portion |  | $ | 22 |  |  | $ | 27 |
Long-term portion |  |  | 22 |  |  |  | 21 |
Total warranty accrual |  | $ | 44 |  |  | $ | 48 |
Schedule of Other Liabilities | Other liabilities
|  | December 27, 2024 |  |  | June 28, 2024 |
|  | (in millions) |
Other liabilities: |  |  |  |  |  |  |  |
Non-current lease liability |  | $ | 179 |  |  | $ | 171 |
Non-current net tax payable |  |  | 66 |  |  |  | 56 |
Other non-current liabilities |  |  | 62 |  |  |  | 59 |
Total other liabilities |  | $ | 307 |  |  | $ | 286 |
Schedule of Accumulated Other Comprehensive Loss | Accumulated other comprehensive loss Accumulated other comprehensive loss (“AOCL”), net of tax, refers to expenses, gains, and losses that are recorded as an element of equity but are excluded from net income. The components of AOCL were as follows:
|  | Foreign Currency Translation Adjustment |  |  | Unrealized Income (Losses) on Derivative Contracts |  |  | Total Accumulated Comprehensive Loss |
|  | (in millions) |
Balance at June 28, 2024 |  | $ | (208 | ) |  | $ | (244 | ) |  | $ | (452 | )
Other comprehensive income (loss) |  |  | (35 | ) |  |  | 74 |  |  |  | 39 |
Income tax expense related to items of other comprehensive income |  |  | — |  |  |  | (15 | ) |  |  | (15 | )
Net current-period other comprehensive income (loss) |  |  | (35 | ) |  |  | 59 |  |  |  | 24 |
Net transfer to Parent |  |  | — |  |  |  | (6 | ) |  |  | (6 | )
Balance at December 27, 2024 |  | $ | (243 | ) |  | $ | (191 | ) |  | $ | (434 | )
The Flash Business of Western Digital Corporation [Member] |  |
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items] |  |
Carrying Amount of Goodwill |  | The following table provides a summary of goodwill activity for the periods presented:
|  | (in millions) |
Balance at July 2, 2021 |  | $ | 7,912 |
Reduction in goodwill in connection with disposition of business |  |  | (14 | )
Foreign currency translation adjustment |  |  | (11 | )
Balance at July 1, 2022 |  |  | 7,887 |
Impairment |  |  | (671 | )
Foreign currency translation adjustment |  |  | (4 | )
Balance at June 30, 2023 |  |  | 7,212 |
Foreign currency translation adjustment |  |  | (5 | )
Balance at June 28, 2024 |  | $ | 7,207 |
Schedule of Inventories |  | Inventories
|  | June 28, 2024 |  |  | June 30, 2023 |
|  | (in millions) |
Inventories: |  |  |  |  |  |  |  |
Raw materials and component parts |  | $ | 1,398 |  |  | $ | 1,754 |
Work-in-process |  |  | 237 |  |  |  | 182 |
Finished goods |  |  | 320 |  |  |  | 333 |
Total inventories |  | $ | 1,955 |  |  | $ | 2,269 |
Schedule of Property, Plant and Equipment, Net |  | Property, plant and equipment, net
|  | June 28, 2024 |  |  | June 30, 2023 |
|  | (in millions) |
Property, plant and equipment: |  |  |  |  |  |  |  |
Land |  | $ | 10 |  |  | $ | 35 |
Buildings and improvements |  |  | 397 |  |  |  | 479 |
Machinery and equipment |  |  | 2,340 |  |  |  | 2,280 |
Computer equipment and software |  |  | 123 |  |  |  | 121 |
Furniture and fixtures |  |  | 16 |  |  |  | 15 |
Construction-in-process |  |  | 108 |  |  |  | 86 |
Property, plant and equipment, gross |  |  | 2,994 |  |  |  | 3,016 |
Accumulated depreciation |  |  | (2,203 | ) |  |  | (2,083 | )
Property, plant and equipment, net |  | $ | 791 |  |  | $ | 933 |
Summary Finite Lived Intangible Assets Amortization Expense |  | Intangible asset amortization was as follows:
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (in millions) |
Intangible asset amortization |  | $ | — |  |  | $ | 133 |  |  | $ | 219 |
Schedule of Product Warranty Liability |  | Product warranty liability Changes in the warranty accrual were as follows:
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (in millions) |
Warranty accrual, beginning of period |  | $ | 42 |  |  | $ | 52 |  |  | $ | 48 |
Charges to operations |  |  | 28 |  |  |  | 30 |  |  |  | 35 |
Utilization |  |  | (34 | ) |  |  | (26 | ) |  |  | (19 | )
Changes in estimate related to pre-existing warranties |  |  | 12 |  |  |  | (14 | ) |  |  | (12 | )
Warranty accrual, end of period |  | $ | 48 |  |  | $ | 42 |  |  | $ | 52 |
The current portion of the warranty accrual is classified in accrued expenses and the long-term portion is classified in other liabilities as noted below:
|  | 2024 |  |  | 2023 |
|  | (in millions) |
Warranty accrual: |  |  |  |  |  |  |  |
Current portion (included in Accrued expenses) |  | $ | 27 |  |  | $ | 23 |
Long-term portion (included in Other liabilities) |  |  | 21 |  |  |  | 19 |
Total warranty accrual |  | $ | 48 |  |  | $ | 42 |
Schedule of Other Liabilities |  | Other liabilities Other liabilities are as follows:
|  | 2024 |  |  | 2023 |
|  | (in millions) |
Other liabilities: |  |  |  |  |  |  |  |
Non-current net tax payable |  | $ | 56 |  |  | $ | 30 |
Long-term lease liability |  |  | 171 |  |  |  | 88 |
Other non-current liabilities |  |  | 59 |  |  |  | 61 |
Total other liabilities |  | $ | 286 |  |  | $ | 179 |
Schedule of Accumulated Other Comprehensive Loss |  | Accumulated other comprehensive loss (“AOCL”), net of tax refers to expenses, gains and losses that are recorded as an element of equity but are excluded from net income (loss). The following table illustrates the changes in the balances of each component of AOCL:
|  | Foreign Currency Translation Adjustment |  |  | Unrealized Gain (Loss) on Derivative Contracts |  |  | Total Accumulated Comprehensive Loss |
|  | (in millions) |
Balance at July 1, 2022 |  |  | (130 | ) |  |  | (277 | ) |  |  | (407 | )
Other comprehensive income (loss) |  |  | (35 | ) |  |  | 128 |  |  |  | 93 |
Income tax expense related to items of other comprehensive income (loss) |  |  | — |  |  |  | (29 | ) |  |  | (29 | )
Net current-period other comprehensive income (loss) |  |  | (35 | ) |  |  | 99 |  |  |  | 64 |
Balance at June 30, 2023 |  |  | (165 | ) |  |  | (178 | ) |  |  | (343 | )
Other comprehensive loss |  |  | (43 | ) |  |  | (87 | ) |  |  | (130 | )
Income tax benefit related to items of other comprehensive loss |  |  | — |  |  |  | 21 |  |  |  | 21 |
Net current-period other comprehensive loss |  |  | (43 | ) |  |  | (66 | ) |  |  | (109 | )
Balance at June 28, 2024 |  | $ | (208 | ) |  | $ | (244 | ) |  | $ | (452 | )

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