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Fair Value (Tables) | 3 Months Ended
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Sep. 27, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The following tables present the Company’s assets and liabilities, by financial instrument type and balance sheet line item that are measured at fair value on a recurring basis, excluding accrued interest components, as of:
|  |  |  | September 27, 2024 |  | June 28, 2024
|  |  |  | Fair Value Measurements at Reporting Date Using |  | Fair Value Measurements at Reporting Date Using
(Dollars in millions) |  | Balance Sheet Location |  | Quoted Prices in Active Markets for Identical Instruments (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total Balance |  | Quoted Prices in Active Markets for Identical Instruments (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total Balance
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | Cash and cash equivalents |  | $ | 458 |  |  | $ | — |  |  | $ | — |  |  | $ | 458 |  |  | $ | 386 |  |  | $ | — |  |  | $ | — |  |  | $ | 386 |
Total cash equivalents |  | 458 |  |  | — |  |  | — |  |  | 458 |  |  | 386 |  |  | — |  |  | — |  |  | 386 |
Restricted cash and investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | Other current assets |  | 1 |  |  | — |  |  | — |  |  | 1 |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Time deposits and certificates of deposit |  | Other current assets |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Other debt securities |  | Other assets, net |  | — |  |  | — |  |  | 15 |  |  | 15 |  |  | — |  |  | — |  |  | 15 |  |  | 15 |
Derivative assets |  | Other current assets |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  | — |  |  | 1 |
Total assets |  |  |  | $ | 459 |  |  | $ | 2 |  |  | $ | 15 |  |  | $ | 476 |  |  | $ | 387 |  |  | $ | 2 |  |  | $ | 15 |  |  | $ | 404 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities |  | Accrued expenses |  | $ | — |  |  | $ | (1) |  |  | $ | — |  |  | $ | (1) |  |  | $ | — |  |  | $ | (1) |  |  | $ | — |  |  | $ | (1) |
Total liabilities |  |  |  | $ | — |  |  | $ | (1) |  |  | $ | — |  |  | $ | (1) |  |  | $ | — |  |  | $ | (1) |  |  | $ | — |  |  | $ | (1) |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | The Company’s debt is carried at amortized cost. The estimated fair value of the Company’s debt is derived using the closing price of the same debt instruments as of the date of valuation, which takes into account the yield curve, interest rates and other observable inputs. Accordingly, these fair value measurements are categorized as Level 2. The following table presents the fair value and amortized cost of the Company’s debt in order of maturity:
|  | September 27, 2024 |  | June 28, 2024
(Dollars in millions) |  | Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value
4.75% Senior Notes due January 2025 |  | 479 |  |  | 478 |  |  | 479 |  |  | 476 |
4.875% Senior Notes due June 2027 |  | 505 |  |  | 504 |  |  | 505 |  |  | 493 |
3.50% Exchangeable Senior Notes due June 2028 |  | 1,500 |  |  | 2,142 |  |  | 1,500 |  |  | 2,070 |
4.091% Senior Notes due June 2029 |  | 472 |  |  | 475 |  |  | 471 |  |  | 459 |
3.125% Senior Notes due July 2029 |  | 163 |  |  | 147 |  |  | 163 |  |  | 139 |
8.25% Senior Notes due December 2029 |  | 500 |  |  | 544 |  |  | 500 |  |  | 537 |
4.125% Senior Notes due January 2031 |  | 275 |  |  | 254 |  |  | 275 |  |  | 245 |
3.375% Senior Notes due July 2031 |  | 72 |  |  | 61 |  |  | 72 |  |  | 58 |
8.50% Senior Notes due July 2031 |  | 500 |  |  | 547 |  |  | 500 |  |  | 538 |
9.625% Senior Notes due December 2032 |  | 750 |  |  | 871 |  |  | 750 |  |  | 855 |
5.75% Senior Notes due December 2034 |  | 489 |  |  | 494 |  |  | 489 |  |  | 472 |
|  | $ | 5,705 |  |  | $ | 6,517 |  |  | $ | 5,704 |  |  | $ | 6,342 |
Less: unamortized debt issuance costs |  | (29) |  |  | — |  |  | (30) |  |  | — |
Debt, net of debt issuance costs |  | $ | 5,676 |  |  | $ | 6,517 |  |  | $ | 5,674 |  |  | $ | 6,342 |
Less: current portion of debt, net of debt issuance costs |  | (479) |  |  | (478) |  |  | (479) |  |  | (476) |
Long-term debt, less current portion, net of debt issuance costs |  | $ | 5,197 |  |  | $ | 6,039 |  |  | $ | 5,195 |  |  | $ | 5,866 |

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- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + 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/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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