Pensions and Other Post-retirement Benefit Plans

9 Months Ended

Mar. 31, 2017

Compensation and Retirement Disclosure [Abstract]

Pensions and Other Post-retirement Benefit Plans

Pension and Other Post-Retirement Benefit Plans

The Company has pension and other post-retirement benefit plans in various countries. The Company’s principal pension plans are in Japan. All pension and other post-retirement benefit plans outside of the Company’s Japanese defined benefit pension plan (the “Japanese Plan”) are immaterial to the Company’s condensed consolidated financial statements. The expected long-term rate of return on the Japanese Plan assets is 2.5%.

Obligations and Funded Status

The following table presents the unfunded status of the benefit obligations for the Japanese Plan were as follows:

	March 31, 2017		July 1, 2016
	(in millions)
Benefit obligations	$	273	$	326
Fair value of plan assets	179		212
Unfunded status	$	94	$	114

The following table presents the unfunded amounts related to the Japanese Plan as recognized on the Company’s condensed consolidated balance sheets:

	March 31, 2017		July 1, 2016
	(in millions)
Non-current liabilities	$	94	$	114
Net amount recognized	$	94	$	114