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Related Parties and Related Commitments and Contingencies (Tables)
 3 Months Ended
Oct. 02, 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 October 2, 2020 and July 3, 2020:
October 2,
2020		July 3,
2020
(in millions)
Notes receivable, Flash Partners$271 $273 
Notes receivable, Flash Alliance231 301 
Notes receivable, Flash Forward597 670 
Investment in Flash Partners208 203 
Investment in Flash Alliance307 300 
Investment in Flash Forward132 128 
Total notes receivable and investments in Flash Ventures$1,746 $1,875 
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 October 2, 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.
October 2,
2020
(in millions)
Notes receivable$1,099 
Equity investments647 
Operating lease guarantees2,004 
Inventory and prepayments575 
Maximum estimable loss exposure$4,325 
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 October 2, 2020.
Lease Amounts
(Japanese yen, in billions)(U.S. dollar, in millions)
Total guarantee obligations¥211 $2,004 
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 October 2, 2020 in U.S. dollars, based upon the Japanese yen to U.S. dollar exchange rate as of October 2, 2020:
Annual InstallmentsPayment of Principal AmortizationPurchase Option Exercise Price at Final Lease TermsGuarantee Amount
(in millions)
Remaining nine months of 2021$407 $80 $487 
2022469 51 520 
2023356 69 425 
2024194 123 317 
202555 113 168 
Thereafter15 72 87 
Total guarantee obligations$1,496 $508 $2,004