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Leases and Other Commitments (Tables) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 27, 2024 | Jun. 28, 2024
Leases and Other Commitments [Line Items] |  |
Schedule of Supplemental Balance Sheet Disclosures | The following table presents right-of-use lease assets and lease liabilities included in the Company’s Condensed Combined Balance Sheets:
|  | December 27, 2024 |  |  | June 28, 2024 |
|  | (in millions) |
Operating lease right-of-use assets (included in other non-current assets) |  | $ | 191 |  |  | $ | 179 |
Operating lease liabilities: |  |  |  |  |  |  |  |
Current portion of long-term operating lease liabilities (included in accrued expenses) |  |  | 17 |  |  |  | 11 |
Long-term operating lease liabilities (included in other liabilities) |  |  | 179 |  |  |  | 171 |
Total operating lease liabilities |  | $ | 196 |  |  | $ | 182 |
Schedule of Supplemental Cash Flow | The following table summarizes supplemental disclosures of operating cost and cash flow information related to operating leases:
|  | Six Months Ended |
|  | December 27, 2024 |  |  | December 29, 2023 |
|  | (in millions) |
Cost of operating leases |  | $ | 16 |  |  | $ | 13 |
Cash paid for operating leases |  |  | 14 |  |  |  | 14 |
Operating lease assets obtained in exchange for operating lease liabilities |  |  | 4 |  |  |  | 167 |
The weighted average remaining lease term and discount rate for the Company’s operating leases were as follows:
|  | December 27, 2024 |  |  | June 28, 2024 |
Weighted average remaining lease term in years |  |  | 12.6 |  |  |  | 13.7 |
Weighted average discount rate |  |  | 7.4 | % |  |  | 7.5 | %
Schedule of Minimum Lease Payments | As of December 27, 2024, minimum lease payments were as follows:
|  | Lease Amounts |
|  | (in millions) |
Minimum lease payments by fiscal year: |  |  |  |
Remaining six months of 2025 |  | $ | 14 |
2026 |  |  | 30 |
2027 |  |  | 28 |
2028 |  |  | 20 |
2029 |  |  | 20 |
Thereafter |  |  | 198 |
Total future minimum lease payments |  |  | 310 |
Less: Imputed interest |  |  | 114 |
Present value of lease liabilities |  | $ | 196 |
Schedule of Minimum Long-Term Commitments | As of December 27, 2024, the Company had the following minimum long-term commitments:
|  | Long-term commitments |
|  | (in millions) |
Fiscal year: |  |  |  |
Remaining six months of 2025 |  | $ | 26 |
2026 |  |  | 496 |
2027 |  |  | 586 |
|  | Long-term commitments |
|  | (in millions) |
2028 |  |  | 570 |
2029 |  |  | 570 |
Thereafter |  |  | 660 |
Total |  | $ | 2,908 |
The Flash Business of Western Digital Corporation [Member] |  |
Leases and Other Commitments [Line Items] |  |
Schedule of Supplemental Balance Sheet Disclosures |  | The following table presents right-of-use-lease assets and lease liabilities included in the Business’s Combined Balance Sheets:
|  | June 28, 2024 |  |  | June 30, 2023 |
|  | (in millions) |
Operating lease right-of-use assets (included in other non-current assets) |  | $ | 179 |  |  | $ | 93 |
Operating lease liabilities: |  |  |  |  |  |  |  |
Current portion of long-term operating lease liabilities (included in accrued expenses) |  |  | 11 |  |  |  | 13 |
Long-term operating lease liabilities (included in other liabilities) |  |  | 172 |  |  |  | 87 |
Total operating lease liabilities |  | $ | 183 |  |  | $ | 100 |
Schedule of Supplemental Cash Flow |  | The following tables summarize supplemental disclosures of operating cost and cash flow information related to operating leases:
|  | Years ended |
|  | June 28, 2024 |  |  | June 30, 2023 |  |  | July 1, 2022 |
|  | (in millions) |
Cost of operating leases |  | $ | 29 |  |  | $ | 21 |  |  | $ | 22 |
Cash paid for operating leases |  |  | 30 |  |  |  | 14 |  |  |  | 10 |
Operating lease assets obtained in exchange for operating lease liabilities |  |  | 167 |  |  |  | 3 |  |  |  | 107 |
Decrease in operating lease liabilities and right-of-use assets due to lease remeasurement |  |  | 71 |  |  |  | — |  |  |  | — |
The weighted average remaining lease term and discount rate for the Business’s operating leases were as follows:
|  | 2024 |  |  | 2023 |
Weighted average remaining lease term in years |  |  | 13.7 |  |  |  | 7.8 |
Weighted average discount rate |  |  | 7.5 | % |  |  | 3.0 | %
Schedule of Minimum Lease Payments |  | As of June 28, 2024, minimum lease payments were as follows:
|  | Lease Amounts |
|  | (in millions) |
2025 |  | $ | 23 |
2026 |  |  | 22 |
2027 |  |  | 21 |
2028 |  |  | 19 |
2029 |  |  | 19 |
Thereafter |  |  | 199 |
Total future minimum lease payments |  |  | 303 |
Less: Imputed interest |  |  | 120 |
Present value of lease liabilities |  | $ | 183 |
Schedule of Minimum Long-Term Commitments |  | As of June 28, 2024, the Business had the following minimum long-term commitments:
|  | Long-term commitments |
|  | (in millions) |
Fiscal year: |  |  |  |
2025 |  | $ | 43 |
2026 |  |  | 51 |
2027 |  |  | 32 |
2028 |  |  | 20 |
2029 |  |  | 20 |
Thereafter |  |  | 110 |
Total |  | $ | 276 |

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