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Leases | 9 Months Ended
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Apr. 02, 2021
Leases [Abstract] |
Leases | The Company is a lessee in several operating leases related to real estate facilities for warehouse and office space. The Company’s lease arrangements comprise operating leases with various expiration dates through 2067. The lease term includes the non-cancelable period of the lease, adjusted for options to extend or terminate the lease when it is reasonably certain that an option will be exercised. Operating lease costs include short-term lease costs and are shown net of immaterial sublease income. The components of lease costs and other information related to leases were as follows:
|  | For the Three Months Ended |  | For the Nine Months Ended
(Dollars in millions) |  | April 2, 2021 |  | April 3, 2020 |  | April 2, 2021 |  | April 3, 2020
Operating lease cost |  | $ | 4 |  |  | $ | 6 |  |  | $ | 11 |  |  | $ | 17 |
Variable lease cost |  | 1 |  |  | 1 |  |  | 3 |  |  | 3 |
Total lease cost |  | $ | 5 |  |  | $ | 7 |  |  | $ | 14 |  |  | $ | 20 |
Operating cash outflows from operating leases |  | $ | 5 |  |  | $ | 4 |  |  | $ | 14 |  |  | $ | 13 |
|  | April 2, 2021 |  | July 3, 2020
Weighted-average remaining lease term |  | 7.1 years |  | 13.2 years
Weighted-average discount rate |  | 6.02 | % |  | 6.53 | %
Right-of-use (“ROU”) assets and lease liabilities are included on the Company’s Condensed Consolidated Balance Sheets as follows:
(Dollars in millions) |  | Balance Sheet Location |  | April 2, 2021 |  | July 3, 2020
ROU assets |  | Other assets, net |  | $ | 102 |  |  | $ | 103 |
Current lease liabilities |  | Accrued expenses |  | $ | 15 |  |  | $ | 14 |
Non-current lease liabilities |  | Other non-current liabilities |  | $ | 43 |  |  | $ | 49 |
At April 2, 2021, future lease payments included in the measurement of lease liabilities were as follows (in millions):
Fiscal Year |  | Amount
Remainder of 2021 |  | $ | 4 |
2022 |  | 16 |
2023 |  | 12 |
2024 |  | 7 |
2025 |  | 5 |
Thereafter |  | 25 |
Total lease payments |  | 69 |
Less: imputed interest |  | (11) |
Present value of lease liabilities |  | $ | 58 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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