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Shareholders' Equity
 3 Months Ended
Oct. 02, 2020
Share-based Payment Arrangement [Abstract]  
Shareholders' Equity Shareholders’ Equity
Stock-based Compensation Expense

The following tables present the Company’s stock-based compensation for equity-settled awards by type (i.e., stock options, restricted stock units (“RSUs”), restricted stock unit awards with performance conditions or market conditions (“PSUs”), and rights to purchase shares of common stock under the Company’s Employee Stock Purchase Plan (“ESPP”)) and financial statement line as well as the related tax benefit included in the Company’s Condensed Consolidated Statements of Operations:
Three Months Ended
October 2,
2020		October 4,
2019
(in millions)
Options$— $2 
RSUs and PSUs67 66 
ESPP9 9 
Total$76 $77 

Three Months Ended
October 2,
2020		October 4,
2019
(in millions)
Cost of revenue$12 $12 
Research and development39 41 
Selling, general and administrative25 24 
Subtotal76 77 
Tax benefit(11)(12)
Total$65 $65 

Windfall tax benefits and tax deficiencies for shortfalls related to the vesting and exercise of stock-based awards, which are recognized as a component of the Company’s Income tax expense, were not material for the periods presented.

Compensation cost related to unvested stock options, RSUs, PSUs, and rights to purchase shares of common stock under the ESPP will generally be amortized on a straight-line basis over the remaining average service period. The following table presents the unamortized compensation cost and weighted average service period of all unvested outstanding awards as of October 2, 2020:
Unamortized Compensation CostsWeighted Average Service Period
(in millions)(years)
RSUs and PSUs (1)
$743 3.0
ESPP29 0.8
Total unamortized compensation cost$772 
(1)    Weighted average service period assumes the performance metrics are met for the PSUs.
Plan Activities

Stock Options

The following table summarizes stock option activity under the Company’s incentive plans:
Number of SharesWeighted Average Exercise Price Per ShareWeighted Average Remaining Contractual LifeAggregate Intrinsic Value
(in millions)(in years)(in millions)
Options outstanding at July 3, 20202.7 $69.16 2.1$— 
Exercised— 18.30 $— 
Canceled or expired(0.2)68.81 
Options outstanding at October 2, 20202.5 69.21 1.5$— 
Exercisable at October 2, 20202.5 $69.21 1.5$— 

RSUs and PSUs

The following table summarizes RSU and PSU activity under the Company’s incentive plans:
Number of SharesWeighted Average Grant Date Fair ValueAggregate Intrinsic Value at Vest Date
(in millions)(in millions)
RSUs and PSUs outstanding at July 3, 202013.3 $60.92 
Granted7.9 37.86 
Vested(3.7)61.20 $149 
Forfeited(0.5)65.04 
RSUs and PSUs outstanding at October 2, 202017.0 49.70 

RSUs and PSUs are generally settled in an equal number of shares of the Company’s common stock at the time of vesting of the units.

Stock Repurchase Program

The Company’s Board of Directors has authorized a stock repurchase program for the repurchase of up to $5.0 billion of the Company’s common stock, which authorization is effective through July 25, 2023. The Company did not make any stock repurchases during the three months ended October 2, 2020 and has not repurchased any shares of its common stock pursuant to its stock repurchase program since the first quarter of fiscal 2019. The remaining amount available to be repurchased under the Company’s current stock repurchase program as of October 2, 2020 was $4.5 billion. Repurchases under the stock repurchase program may be made in the open market or in privately negotiated transactions and may be made under a Rule 10b5-1 plan. The Company expects stock repurchases to be funded principally by operating cash flows.

Dividends to Shareholders

The Company issued a quarterly cash dividend from the first quarter of fiscal 2013 up to the third quarter of fiscal 2020. In April 2020, the Company suspended its dividend to reinvest in the business and to support its ongoing deleveraging efforts.