v3.25.2
Discontinued Operations (Tables)
 12 Months Ended
Jun. 27, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations
The following table provides a summary of the assets and liabilities classified as discontinued operations:

Assets and Liabilities of Discontinued Operations
June 28,
2024
(in millions)
Assets
Cash and cash equivalents$328 
Accounts receivable, net935 
Inventories1,955 
Other current assets313 
Current assets of discontinued operations
$3,531 
Property, plant and equipment, net$808 
Notes receivable and investments in Flash Ventures991 
Goodwill5,713 
Other non-current assets1,101 
Non-current assets of discontinued operations
$8,613 
Liabilities
Accounts payable$357 
Accounts payable to related parties313 
Accrued expenses427 
Income taxes payable54 
Accrued compensation173 
Current liabilities of discontinued operations
$1,324 
Non-current liabilities of discontinued operations
$368 

The following table provides a summary of net income (loss) from discontinued operations, net of taxes:

Net Income (Loss) from Discontinued Operations, Net of Taxes
202520242023
(in millions)
Revenue, net$4,361 $6,686 $6,063 
Cost of revenue2,892 5,514 5,567 
Operating expenses:
Research and development718 957 1,023 
Selling, general and administrative229 102 163 
Gain on business divestiture
(113)— — 
Business separation costs144 97 — 
Business realignment charges
3 (70)47 
Operating income (loss)488 86 (737)
Total interest and other income (expense), net
(36)(8)36 
Income (loss) before taxes452 78 (701)
Income tax expense206 111 81 
Net income (loss) from discontinued operations, net of taxes
$246 $(33)$(782)
The following table provides selected financial information related to cash flows from discontinued operations:
Select Cash Flow Information from Discontinued Operations202520242023
(in millions)
Depreciation and amortization
$115 $221 $439 
Purchases of property, plant and equipment
139 166 219 
Stock-based compensation
98 92 106