Related Parties and Related Commitments and Contingencies (Tables)

12 Months Ended

Jul. 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 July 3, 2020 and June 28, 2019:

	July 3, 2020		June 28, 2019
	(in millions)
Notes receivable, Flash Partners	$	273	$	551
Notes receivable, Flash Alliance	301		878
Notes receivable, Flash Forward	670		743
Investment in Flash Partners	203		200
Investment in Flash Alliance	300		296
Investment in Flash Forward	128		123
Total notes receivable and investments in Flash Ventures	$	1,875	$	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 July 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.

	July 3, 2020
Notes receivable	$	1,244
Equity investments	631
Operating lease guarantees	1,903
Inventory and prepayments	526
Maximum estimable loss exposure	$	4,304

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 July 3, 2020.

	Lease Amounts
	(Japanese yen, in billions)		(U.S. dollar, in millions)
Total guarantee obligations	¥	205	$	1,903

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 July 3, 2020 in U.S. dollars, based upon the Japanese yen to U.S. dollar exchange rate as of July 3, 2020:

Annual Installments	Payment of Principal Amortization		Purchase Option Exercise Price at Final Lease Terms		Guarantee Amount
	(in millions)
2021	$	497	$	109	$	606
2022	414		50		464
2023	304		67		371
2024	156		121		277
2025	36		111		147
Thereafter	4		34		38
Total guarantee obligations	$	1,411	$	492	$	1,903

Long-term Purchase Agreements

As of July 3, 2020, the Company had the following minimum long-term commitments:

	Long-term commitments
	(in millions)
Fiscal year:
2021	$	448
2022	606
2023	521
2024	322
2025	148
Thereafter	190
Total	$	2,235