v3.25.2
Consolidated Statements of Convertible Preferred Stock and Shareholders' Equity - USD ($)
shares in Millions, $ in Millions
Total
Cumulative Effect, Period of Adoption, Adjustment
Common Stock
Treasury Stock
Additional Paid-In Capital
Additional Paid-In Capital
Cumulative Effect, Period of Adoption, Adjustment
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Retained Earnings
Cumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Jul. 01, 2022 0.0                
Beginning balance at Jul. 01, 2022 $ 0                
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Issuance of convertible preferred stock, net of issuance costs (in shares) 0.9                
Issuance of convertible preferred stock, net of issuance costs $ 876                
Ending balance (in shares) at Jun. 30, 2023 0.9                
Ending balance at Jun. 30, 2023 $ 876                
Common stock, beginning balance (in shares) at Jul. 01, 2022     315.0            
Beginning balance at Jul. 01, 2022 12,323 $ (37) $ 3 $ 0 $ 3,733 $ (128) $ (579) $ 9,166 $ 91
Treasury stock, beginning balance (in shares) at Jul. 01, 2022       0.0          
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) (1,684)             (1,684)  
Employee stock plans (in shares)     7.0            
Employee stock plans 13       13        
Stock-based compensation 318       318        
Actuarial pension gain 9           9    
Foreign currency translation adjustment (87)           (87)    
Net unrealized gain (loss) on derivative contracts 109           109    
Common stock, ending balance (in shares) at Jun. 30, 2023     322.0            
Ending balance at Jun. 30, 2023 $ 10,964   $ 3 $ 0 3,936   (548) 7,573  
Treasury stock, ending balance (in shares) at Jun. 30, 2023       0.0          
Increase (Decrease) in Temporary Equity [Roll Forward]                  
Conversion of convertible preferred stock (in shares) (0.7)                
Conversion of convertible preferred stock $ (647)                
Ending balance (in shares) at Jun. 28, 2024 0.2                
Ending balance at Jun. 28, 2024 $ 229                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) (798)             (798)  
Purchase of capped calls related to the issuance of convertible notes, net of tax (118)       (118)        
Conversion of convertible preferred stock (in shares)     15.0            
Conversion of convertible preferred stock 647       647        
Employee stock plans (in shares)     6.0            
Employee stock plans (8)       (8)        
Stock-based compensation 295       295        
Actuarial pension gain 16           16    
Foreign currency translation adjustment (116)           (116)    
Net unrealized gain (loss) on derivative contracts $ (64)           (64)    
Common stock, ending balance (in shares) at Jun. 28, 2024 343.0   343.0            
Ending balance at Jun. 28, 2024 $ 10,818   $ 3 $ 0 4,752   (712) 6,775  
Treasury stock, ending balance (in shares) at Jun. 28, 2024 0.0     0.0          
Ending balance (in shares) at Jun. 27, 2025 0.2                
Ending balance at Jun. 27, 2025 $ 229                
Increase (Decrease) in Stockholders' Equity [Roll Forward]                  
Net income (loss) 1,889             1,889  
Conversion of convertible preferred stock (in shares)     15.0            
Distribution in connection with the Separation (7,618)       (307)   546 (7,857)  
Employee stock plans (in shares)     4.0 1.0          
Employee stock plans (36)     $ 54 (90)        
Stock-based compensation 265       265        
Repurchases of common stock (in shares)       (3.0)          
Repurchases of common stock (149)     $ (149)          
Preferred stock dividends (8)             (8)  
Common stock dividends ($0.10 per share) (36)       1     (37)  
Actuarial pension gain 2           2    
Foreign currency translation adjustment 45           45    
Net unrealized gain (loss) on derivative contracts $ 139           139    
Common stock, ending balance (in shares) at Jun. 27, 2025 347.0   347.0            
Ending balance at Jun. 27, 2025 $ 5,311   $ 3 $ (95) $ 4,621   $ 20 $ 762  
Treasury stock, ending balance (in shares) at Jun. 27, 2025 (95.0)     (2.0)