v3.26.1
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Jul. 03, 2026
Jun. 27, 2025
Current assets:    
Cash and cash equivalents $ 4,762 $ 1,481
Accounts receivable, net 4,708 1,068
Inventories 2,698 2,079
Income tax receivable 22 66
Other current assets 590 392
Total current assets 12,780 5,086
Non-current assets:    
Marketable equity securities 1,777 0
Property, plant and equipment, net 674 619
Notes receivable and investments in Flash Ventures 678 654
Goodwill 4,994 4,999
Income tax receivable, non-current 169 80
Deferred tax assets 66 58
Other non-current assets 1,369 1,489
Total assets 22,507 12,985
Current liabilities:    
Accrued expenses 313 274
Accrued compensation 657 173
Refund liabilities 1,500 126
Contract liabilities 849 25
Income tax payable, current 1,286 43
Current portion of long-term debt 0 20
Total current liabilities 5,581 1,427
Non-current liabilities:    
Non-current contract liabilities 393 0
Deferred tax liabilities 161 17
Income tax payable, non-current 258 131
Long-term debt 0 1,829
Other liabilities 378 365
Total liabilities 6,771 3,769
Commitments and contingencies (Notes 10, 11, 14 and 15)
Shareholders’ equity:    
Common stock, $0.01 par value; authorized — 450 shares; issued — 149 shares and outstanding — 146000000 shares (issued and outstanding as of June 27, 2025 — 146000000 shares) 1 1
Treasury stock (4,537) 0
Additional paid-in capital 10,879 11,248
Accumulated other comprehensive loss (256) (249)
Retained earnings (Accumulated deficit) 9,649 (1,784)
Total shareholders’ equity 15,736 9,216
Total liabilities and shareholders’ equity 22,507 12,985
Nonrelated Party    
Current liabilities:    
Accounts payable 516 366
Related Party    
Current liabilities:    
Accounts payable $ 460 $ 400