Related Parties and Related Commitments and Contingencies (Tables)

6 Months Ended

Jan. 03, 2020

Commitments and Contingencies Disclosure [Abstract]

Notes Receivable and Investments in Related Parties

The following table presents the notes receivable from, and equity investments in, Flash Ventures as of January 3, 2020 and June 28, 2019:

	January 3, 2020		June 28, 2019
	(in millions)
Notes receivable, Flash Partners	$	412	$	551
Notes receivable, Flash Alliance	625		878
Notes receivable, Flash Forward	663		743
Investment in Flash Partners	200		200
Investment in Flash Alliance	297		296
Investment in Flash Forward	124		123
Total notes receivable and investments in Flash Ventures	$	2,321	$	2,791

Variable Interest Entity Maximum Loss Exposure

The Company’s maximum reasonably estimable loss exposure (excluding lost profits) as a result of its involvement with Flash Ventures, based upon the Japanese yen to U.S. dollar exchange rate at January 3, 2020, is presented below. Investments in Flash Ventures are denominated in Japanese yen, and the maximum estimable loss exposure excludes any cumulative translation adjustment due to revaluation from the Japanese yen to the U.S. dollar.

	January 3, 2020
Notes receivable	$	1,700
Equity investments	621
Operating lease guarantees	1,746
Inventory and prepayments	462
Maximum estimable loss exposure	$	4,529

Schedule of Guarantor Obligations

The following table presents the Company’s portion of the remaining guarantee obligations under the Flash Ventures’ lease facilities in both Japanese yen and U.S. dollar-equivalent, based upon the Japanese yen to U.S. dollar exchange rate as of January 3, 2020.

	Lease Amounts
	(Japanese yen, in billions)		(U.S. dollar, in millions)
Total guarantee obligations	¥	189	$	1,746

Remaining Guarantee Obligations

The following table details the breakdown of the Company’s remaining guarantee obligations between the principal amortization and the purchase option exercise price at the end of the term of the Flash Ventures lease agreements, in annual installments as of January 3, 2020 in U.S. dollars, based upon the Japanese yen to U.S. dollar exchange rate as of January 3, 2020:

Annual Installments	Payment of Principal Amortization		Purchase Option Exercise Price at Final Lease Terms		Guarantee Amount
	(in millions)
Remaining six months of 2020	$	239	$	35	$	274
2021	406		108		514
2022	323		49		372
2023	215		67		282
2024	98		120		218
Thereafter	12		74		86
Total guarantee obligations	$	1,293	$	453	$	1,746