v2.4.0.6

Fair Value (Tables) | 9 Months Ended
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Mar. 30, 2012
Fair Value |
Assets and liabilities that are measured at fair value on a recurring basis |
|  | Fair Value Measurements at Reporting Date Using |
(Dollars in millions) |  | Quoted Prices in Active Markets for Identical Instruments (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total Balance |
Assets: |  |  |  |  |  |  |  |  |
Commercial paper |  | $ | — |  | $ | 363 |  | $ | — |  | $ | 363 |
Money market funds |  | 1,115 |  | — |  | — |  | 1,115 |
U.S. treasuries and agency bonds |  | — |  | 95 |  | — |  | 95 |
Corporate bonds |  | — |  | 207 |  | — |  | 207 |
Other debt securities |  | — |  | 107 |  | — |  | 107 |
Total cash equivalents and short-term investments |  | 1,115 |  | 772 |  | — |  | 1,887 |
Restricted cash and investments: |  |  |  |  |  |  |  |  |
Mutual funds |  | 71 |  | — |  | — |  | 71 |
Other debt securities |  | 25 |  | 2 |  | — |  | 27 |
Auction rate securities |  | — |  | — |  | 15 |  | 15 |
Total assets |  | $ | 1,211 |  | $ | 774 |  | $ | 15 |  | $ | 2,000 |
Liabilities: |  |  |  |  |  |  |  |  |
Derivative liabilities |  | $ | — |  | $ | 3 |  | $ | — |  | $ | 3 |
Total liabilities |  | $ | — |  | $ | 3 |  | $ | — |  | $ | 3 |
|  | Fair Value Measurements at Reporting Date Using |
(Dollars in millions) |  | Quoted Prices in Active Markets for Identical Instruments (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total Balance |
Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,115 |  | $ | 364 |  | $ | — |  | $ | 1,479 |
Short-term investments |  | — |  | 408 |  | — |  | 408 |
Restricted cash and investments |  | 96 |  | 2 |  | — |  | 98 |
Other assets, net |  | — |  | — |  | 15 |  | 15 |
Total assets |  | $ | 1,211 |  | $ | 774 |  | $ | 15 |  | $ | 2,000 |
Liabilities: |  |  |  |  |  |  |  |  |
Accrued expenses |  | $ | — |  | $ | 3 |  | $ | — |  | $ | 3 |
Total liabilities |  | $ | — |  | $ | 3 |  | $ | — |  | $ | 3 |
Assets and liabilities that are measured at fair value on a recurring basis, by balance sheet grouping |
|  | Fair Value Measurements at Reporting Date Using |
(Dollars in millions) |  | Quoted Prices in Active Markets for Identical Instruments (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total Balance |
Assets: |  |  |  |  |  |  |  |  |
Commercial paper |  | $ | — |  | $ | 1,729 |  | $ | — |  | $ | 1,729 |
Money market funds |  | 800 |  | — |  | — |  | 800 |
U.S. treasuries and agency bonds |  | — |  | 190 |  | — |  | 190 |
Certificates of deposit |  | — |  | 133 |  | — |  | 133 |
Corporate bonds |  | — |  | 116 |  | — |  | 116 |
Other debt securities |  | — |  | 96 |  | — |  | 96 |
Total cash equivalents and short-term investments |  | 800 |  | 2,264 |  | — |  | 3,064 |
Restricted cash and investments: |  |  |  |  |  |  |  |  |
Mutual funds |  | 81 |  | — |  | — |  | 81 |
Other debt securities |  | 19 |  | 2 |  | — |  | 21 |
Auction rate securities |  | — |  | — |  | 16 |  | 16 |
Derivative assets |  | — |  | 5 |  | — |  | 5 |
Total assets |  | $ | 900 |  | $ | 2,271 |  | $ | 16 |  | $ | 3,187 |
Liabilities: |  |  |  |  |  |  |  |  |
Derivative liabilities |  | $ | — |  | $ | (6 | ) | $ | — |  | $ | (6 | )
Total liabilities |  | $ | — |  | $ | (6 | ) | $ | — |  | $ | (6 | )
|  | Fair Value Measurements at Reporting Date Using |
(Dollars in millions) |  | Quoted Prices in Active Markets for Identical Instruments (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total Balance |
Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 800 |  | $ | 1,790 |  | $ | — |  | $ | 2,590 |
Short-term investments |  | — |  | 474 |  | — |  | 474 |
Restricted cash and investments |  | 100 |  | 2 |  | — |  | 102 |
Other current assets |  | — |  | 5 |  | — |  | 5 |
Other assets, net |  | — |  | — |  | 16 |  | 16 |
Total assets |  | $ | 900 |  | $ | 2,271 |  | $ | 16 |  | $ | 3,187 |
Liabilities: |  |  |  |  |  |  |  |  |
Accrued expenses |  | $ | — |  | $ | (6 | ) | $ | — |  | $ | (6 | )
Total liabilities |  | $ | — |  | $ | (6 | ) | $ | — |  | $ | (6 | )
Reconciliation of assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) |
(Dollars in millions) |  | Auction Rate Securities |
Balance at July 1, 2011 |  | $ | 16 |
Total net gains (losses) (realized and unrealized): |  |  |
Realized gains (losses)(1) |  | — |
Unrealized gains (losses)(2) |  | — |
Sales and Settlements |  | (1 | )
Balance at March 30, 2012 |  | $ | 15 |
(1) Realized gains (losses) on auction rate securities are recorded in Other, net in the Condensed Consolidated Statements of Operations. (2) Unrealized gains (losses) on auction rate securities are recorded as a separate component of Other comprehensive income (loss) in Accumulated other comprehensive income (loss), which is a component of Shareholders’ equity.
Schedule of assets and liabilities measured at fair value on a non-recurring basis |
|  | Fair Value Measurements Using |
(Dollars in millions) |  | Quoted Prices in Active Markets for Identical Instruments (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total Balance |
Assets: |  |  |  |  |  |  |  |  |
Equity investment |  | $ | — |  | $ | — |  | $ | 5 |  | $ | 5 |
Schedule of Company's debt at amortized cost and fair value |
|  | March 30, 2012 |  | July 1, 2011 |
(Dollars in millions) |  | Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value |
Capital Lease |  | $ | — |  | $ | — |  | $ | 1 |  | $ | 1 |
6.375% Senior Notes due October 2011 |  | — |  | — |  | 559 |  | 561 |
10.0% Senior Secured Second-Priority Notes due May 2014 |  | 313 |  | 363 |  | 403 |  | 481 |
6.8% Senior Notes due October 2016 |  | 599 |  | 660 |  | 599 |  | 647 |
7.75% Senior Notes due December 2018 |  | 750 |  | 825 |  | 750 |  | 780 |
6.875% Senior Notes due May 2020 |  | 600 |  | 639 |  | 600 |  | 591 |
7.00% Senior Notes due November 2021 |  | 600 |  | 651 |  | 600 |  | 598 |
|  | 2,862 |  | 3,138 |  | 3,512 |  | 3,659 |
Less short-term borrowings and current portion of long-term debt |  | — |  | — |  | (560 | ) | (562 | )
Long-term debt, less current portion |  | $ | 2,862 |  | $ | 3,138 |  | $ | 2,952 |  | $ | 3,097

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- Definition Tabular disclosure of assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 33 -Subparagraph a, b -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 5 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19296-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph c -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19279-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13433-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 14 -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15 -Subparagraph b-d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13476-108611 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 10 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6947722&loc=d3e13467-108611 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 18 -Subparagraph c(2), d, e, f -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph a, c(1), c(2), c(3), d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 19 -Subparagraph a, b, c(1), d(1) -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Topic 820 -SubTopic 10 -Publisher FASB -Number -Article -Subparagraph -Name Accounting Standards Codification -Paragraph 1 -Section 50 -URI http://asc.fasb.org/extlink&oid=6925170&loc=d3e19190-110258 + Details
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