Leases and Other Commitments (Tables)

12 Months Ended

Jul. 03, 2020

Leases [Abstract]

Lessee, Operating Leases, Supplemental Balance Sheet Disclosures

The following table summarizes supplemental balance sheet information related to operating leases as of July 3, 2020:

	Lease Amounts
Minimum lease payments by fiscal year:	(in millions)
2021	$	45
2022	32
2023	28
2024	28
2025	27
Thereafter	144
Total future minimum lease payments	304
Less: Imputed Interest	(59)
Present value of lease liabilities	245
Less: Current portion (included in Accrued expenses)	36
Long-term operating lease liabilities (included in Other liabilities)	$	209
Operating lease right-of-use assets (included in Other non-current assets)	$	230
Weighted average remaining lease term in years	9.2
Weighted average discount rate	4.2		%

Lease, Cost

The following table summarizes supplemental disclosures of operating cost and cash flow information related to operating leases for the year ended July 3, 2020:

	Year Ended
	July 3, 2020
	(in millions)
Cost of operating leases	$	55
Cash paid for operating leases	53
Operating lease assets obtained in exchange for operating lease liabilities	57

Cost of operating leases was as follows:

	2020		2019		2018
	(in millions)
Cost of operating leases	$	55	$	47	$	49

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