v3.26.1
CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFERRED STOCK AND SHAREHOLDERS’ EQUITY - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Treasury Stock
Additional Paid-In Capital
Accumulated Other Comprehensive Income (Loss)
Retained Earnings
Beginning balance (in shares) at Jun. 30, 2023 0.9          
Beginning balance at Jun. 30, 2023 $ 876          
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          
Common stock, beginning balance (in shares) at Jun. 30, 2023   322.0        
Beginning balance at Jun. 30, 2023 10,964 $ 3 $ 0 $ 3,936 $ (548) $ 7,573
Treasury stock, beginning balance (in shares) at Jun. 30, 2023     0.0      
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (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        
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      
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 1,889         1,889
Distribution in connection with the Separation (7,618)     (307) 546 (7,857)
Repurchases of common stock (in shares)     (3.0)      
Repurchases of common stock (149)   $ (149)      
Employee stock plans (in shares)   6.0 1.0      
Employee stock plans (36)   $ 54 (90)    
Stock-based compensation 265     265    
Common stock dividends (36)     1   (37)
Preferred stock dividends (8)     0   (8)
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 347.0 349.0        
Ending balance at Jun. 27, 2025 $ 5,311 $ 3 $ (95) 4,621 20 762
Treasury stock, ending balance (in shares) at Jun. 27, 2025 (2.0)   (2.0)      
Increase (Decrease) in Temporary Equity [Roll Forward]            
Conversion of convertible preferred stock (in shares) (0.2)          
Conversion of convertible preferred stock $ (229)          
Ending balance (in shares) at Jul. 03, 2026 0.0          
Ending balance at Jul. 03, 2026 $ 0          
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income 9,424         9,424
Conversion of convertible preferred stock (in shares)     7.0      
Conversion of convertible preferred stock 229   $ 796 (567)    
Repurchases of common stock (in shares)     (15.0)      
Repurchases of common stock (2,592)   $ (2,592)      
Employee stock plans (in shares)     6.0      
Employee stock plans (312)   $ 554 (866)    
Stock-based compensation 204     204    
Conversion of convertible notes (in shares)   15.0 6.0      
Convertible notes transactions (230) $ 1 $ 2,204 (2,435)    
Exchange of Sandisk shares to acquire Company common stock (in shares)     (5.0)      
Exchange of Sandisk shares to acquire Company common stock (2,989)   $ (2,989)      
Common stock dividends (174)     4   (178)
Preferred stock dividends (10)         (10)
Actuarial pension gain 23       23  
Foreign currency translation adjustment (1)       (1)  
Net unrealized gain (loss) on derivative contracts $ (19)       (19)  
Common stock, ending balance (in shares) at Jul. 03, 2026 361.0 364.0        
Ending balance at Jul. 03, 2026 $ 8,864 $ 4 $ (2,122) $ 961 $ 23 $ 9,998
Treasury stock, ending balance (in shares) at Jul. 03, 2026 (3.0)   (3.0)