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Balance Sheet Information (Tables) | 3 Months Ended
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Sep. 27, 2024
Disclosure Text Block Supplement [Abstract] |
Cash, Cash Equivalent, and Restricted Cash | The details of the cash, cash equivalents and restricted cash were as follows:
(Dollars in millions) |  | September 27, 2024 |  | June 28, 2024 |  |  |  |
Cash and cash equivalents |  | $ | 1,239 |  |  | $ | 1,358 |  |  |  |  |
Restricted cash included in Other current assets |  | 2 |  |  | 2 |  |  |  |  |
Total cash, cash equivalents and restricted cash shown in the Statements of Cash Flows |  | $ | 1,241 |  |  | $ | 1,360 |  |  |  |  |
Schedule of Cash and Cash Equivalents | The details of the cash, cash equivalents and restricted cash were as follows:
(Dollars in millions) |  | September 27, 2024 |  | June 28, 2024 |  |  |  |
Cash and cash equivalents |  | $ | 1,239 |  |  | $ | 1,358 |  |  |  |  |
Restricted cash included in Other current assets |  | 2 |  |  | 2 |  |  |  |  |
Total cash, cash equivalents and restricted cash shown in the Statements of Cash Flows |  | $ | 1,241 |  |  | $ | 1,360 |  |  |  |  |
Inventories | The details of the inventory, net were as follows:
(Dollars in millions) |  | September 27, 2024 |  | June 28, 2024
Raw materials and components |  | $ | 441 |  |  | $ | 270 |
Work-in-process |  | 829 |  |  | 831 |
Finished goods |  | 113 |  |  | 138 |
Total inventories, net |  | $ | 1,383 |  |  | $ | 1,239 |
Schedule of Other Current Assets | The details of the other current assets were as follows:
(Dollars in millions) |  | September 27, 2024 |  | June 28, 2024
Vendor receivables |  | $ | 125 |  |  | $ | 110 |
Other current assets |  | 233 |  |  | 196 |
Total |  | $ | 358 |  |  | $ | 306 |
Property, Equipment and Leasehold Improvements, net | The components of property, equipment and leasehold improvements, net were as follows:
(Dollars in millions) |  | September 27, 2024 |  | June 28, 2024
Gross property, equipment and leasehold improvements |  | 10,280 |  |  | 10,260 |
Less: accumulated depreciation and amortization |  | (8,681) |  |  | (8,646) |
Property, equipment and leasehold improvements, net |  | $ | 1,599 |  |  | $ | 1,614 |
Accrued Expenses | The details of the accrued expenses were as follows:
(Dollars in millions) |  | September 27, 2024 |  | June 28, 2024
Dividends payable |  | $ | 148 |  |  | $ | 147 |
Other accrued expenses |  | 537 |  |  | 507 |
Total |  | $ | 685 |  |  | $ | 654 |
Supplier Finance Program | The details of the outstanding supplier financing obligation were as follows:
(Dollars in millions) |  | September 27, 2024 |  | September 29, 2023
Outstanding at the beginning of the period |  | $ | 50 |  |  | $ | 51 |
Added to the program during the period |  | 332 |  |  | 161 |
Settled during the period |  | (348) |  |  | (163) |
Outstanding at the ending of the period |  | $ | 34 |  |  | $ | 49 |
Accumulated Other Comprehensive Income (Loss) | The components of AOCI, net of tax, were as follows:
(Dollars in millions) |  | Unrealized Gains/(Losses) on Cash Flow Hedges |  |  | Unrealized Gains/(Losses) on Post-Retirement Plans |  | Foreign Currency Translation Adjustments |  | Total
Balance at June 28, 2024 |  | $ | — |  |  |  | $ | (2) |  |  | $ | — |  |  | $ | (2) |
Other comprehensive income before reclassifications |  | — |  |  |  | — |  |  | — |  |  | — |
Amounts reclassified from AOCI |  | — |  |  |  | — |  |  | — |  |  | — |
Other comprehensive income |  | — |  |  |  | — |  |  | — |  |  | — |
Balance at September 27, 2024 |  | — |  |  |  | (2) |  |  | — |  |  | (2) |
Balance at June 30, 2023 |  | 103 |  |  |  | (4) |  |  | (1) |  |  | 98 |
Other comprehensive (loss) before reclassifications |  | (22) |  |  |  | — |  |  | — |  |  | (22) |
Amounts reclassified from AOCI |  | (92) |  |  |  | — |  |  | 1 |  |  | (91) |
Other comprehensive (loss) |  | (114) |  |  |  | — |  |  | 1 |  |  | (113) |
Balance at September 29, 2023 |  | $ | (11) |  |  |  | $ | (4) |  |  | $ | — |  |  | $ | (15) |

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