Supplemental Financial Statement Data (Tables)
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12 Months Ended |
Jun. 27, 2025 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
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Schedule of Inventories |
Inventories | | | | | | | | | | | | | June 27, 2025 | | June 28, 2024 | | (in millions) | Inventories: | | | | Raw materials and component parts | $ | 227 | | | $ | 329 | | Work-in-process | 785 | | | 829 | | Finished goods | 279 | | | 229 | | Total inventories | $ | 1,291 | | | $ | 1,387 | |
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Schedule of Property, Plant and Equipment |
Property, plant and equipment, net | | | | | | | | | | | | | June 27, 2025 | | June 28, 2024 | | (in millions) | Property, plant and equipment: | | | | Land and improvements | $ | 225 | | | $ | 225 | | Buildings and improvements | 1,550 | | | 1,419 | | Machinery and equipment | 6,488 | | | 6,301 | | Computer equipment and software | 257 | | | 313 | | Furniture and fixtures | 33 | | | 32 | | Construction-in-process | 532 | | | 685 | | Property, plant and equipment, gross | 9,085 | | | 8,975 | | Accumulated depreciation | (6,742) | | | (6,616) | | Property, plant and equipment, net | $ | 2,343 | | | $ | 2,359 | |
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Schedule of Other Assets, Noncurrent |
Non-current assets | | | | | | | | | | | | | June 27, 2025 | | June 28, 2024 | | (in millions) | Non-current assets: | | | | Deferred tax assets | $ | 1,007 | | | $ | 225 | | Other non-current assets | 477 | | | 612 | | Total non-current assets | $ | 1,484 | | | $ | 837 | |
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Schedule of Movement in Standard Product Warranty Accrual and Total Warranty Accrual |
Product warranty liability
Changes in the warranty accrual were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2025 | | 2024 | | 2023 | | | | | | (in millions) | Warranty accrual, beginning of period | | | | | $ | 142 | | | $ | 202 | | | $ | 293 | | | | | | | | | | | | Charges to operations | | | | | 99 | | | 79 | | | 76 | | Utilization | | | | | (83) | | | (119) | | | (143) | | Changes in estimate related to pre-existing warranties | | | | | (6) | | | (20) | | | (24) | | Warranty accrual, end of period | | | | | $ | 152 | | | $ | 142 | | | $ | 202 | |
The current portion of the warranty accrual is classified in Accrued expenses and the long-term portion is classified in Other liabilities as noted below: | | | | | | | | | | | | | | | | | | | June 27, 2025 | | June 28, 2024 | | | | | | | | (in millions) | Warranty accrual: | | | | | | | | | | Current portion (included in Accrued expenses) | $ | 57 | | | $ | 9 | | | | | | | | Long-term portion (included in Other liabilities) | 95 | | | 133 | | | | | | | | Total warranty accrual | $ | 152 | | | $ | 142 | | | | | | | |
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Schedule of Other Noncurrent Liabilities |
Other liabilities | | | | | | | | | | | | | June 27, 2025 | | June 28, 2024 | | (in millions) | Other liabilities: | | | | Non-current net tax payable | $ | — | | | $ | 200 | | Non-current portion of unrecognized tax benefits | 163 | | | 443 | | Other non-current liabilities | 396 | | | 359 | | Total other liabilities | $ | 559 | | | $ | 1,002 | |
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Schedule of Accumulated Other Comprehensive Loss |
The following table illustrates the changes in the balances of each component of Accumulated other comprehensive income (loss): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Actuarial Pension Gains (Losses) | | Foreign Currency Translation Adjustment | | | | | | Unrealized Gains (Losses) on Derivative Contracts | | Total Accumulated Comprehensive Income (Loss) | | (in millions) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance at June 30, 2023 | $ | (2) | | | $ | (389) | | | | | | | $ | (157) | | | $ | (548) | | Other comprehensive income (loss) before reclassifications | 23 | | | (115) | | | | | | | (331) | | | (423) | | Amounts reclassified from accumulated other comprehensive income (loss) | — | | | — | | | | | | | 244 | | | 244 | | Income tax benefit (expense) related to items of other comprehensive income (loss) | (7) | | | (1) | | | | | | | 23 | | | 15 | | Net current-period other comprehensive income (loss) | 16 | | | (116) | | | | | | | (64) | | | (164) | | Balance at June 28, 2024 | 14 | | | (505) | | | | | | | (221) | | | (712) | | Other comprehensive income before reclassifications | 3 | | | 45 | | | | | | | 31 | | | 79 | | Amounts reclassified from accumulated other comprehensive income (loss) | — | | | — | | | | | | | 149 | | | 149 | | Income tax expense related to items of other comprehensive income | (1) | | | — | | | | | | | (41) | | | (42) | | Net current-period other comprehensive income | 2 | | | 45 | | | | | | | 139 | | | 186 | | Distribution in connection with the Separation | — | | | 458 | | | | | | | 88 | | | 546 | | Balance at June 27, 2025 | $ | 16 | | | $ | (2) | | | | | | | $ | 6 | | | $ | 20 | |
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