Shareholders' Equity (Tables)

12 Months Ended

Jul. 01, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The following tables present the Company’s stock-based compensation for equity-settled awards by type and financial statement line as well as the related tax benefit included in the Company’s Consolidated Statements of Operations:

	2022		2021		2020
	(in millions)
Options	$	—	$	—	$	7
RSUs and PSUs	286		282		268
ESPP	40		36		33
Total	$	326	$	318	$	308

	2022		2021		2020
	(in millions)
Cost of revenue	$	48	$	55	$	51
Research and development	167		158		163
Selling, general and administrative	111		105		94
Subtotal	326		318		308
Tax benefit	(48)		(47)		(45)
Total	$	278	$	271	$	263

Schedule of Employee Service Share-based Compensation , Unrecognized Costs

The following table presents the unamortized compensation cost and weighted average service period of all unvested outstanding awards as of July 1, 2022:

	Unamortized Compensation Costs		Weighted Average Service Period
	(in millions)		(years)
RSUs and PSUs (1)	$	557	2.2
ESPP	61		1.2
Total unamortized compensation cost	$	618

(1)    Weighted average service period assumes the performance conditions are met for the PSUs.

Schedule of Stock Option Activity

The following table summarizes stock option activity under the Company’s incentive plans:

	Number of Shares	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value
	(in millions)			(in years)	(in millions)
Options outstanding at June 28, 2019	3.9	$	65.72
Exercised	(0.8)	43.26			$	12
Canceled or expired	(0.4)	88.58
Options outstanding at July 3, 2020	2.7	69.16
Exercised	(0.4)	44.34			6
Canceled or expired	(0.8)	75.42
Options outstanding at July 2, 2021	1.5	72.84
Exercised	(0.2)	43.80			3
Canceled or expired	(0.4)	97.65
Options outstanding at July 1, 2022	0.9	$	66.76	0.54

Schedule of Restricted Stock Unit

The following table summarizes RSU and PSU activity under the Company’s incentive plans:

	Number of Shares	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value at Vest Date
	(in millions)			(in millions)
RSUs and PSUs outstanding at June 28, 2019	11.6	$	62.07
Granted	7.4	55.32
Vested	(4.4)	58.36		$	252
Forfeited	(1.3)	63.33
RSUs and PSUs outstanding at July 3, 2020	13.3	60.92
Granted	8.8	40.40
Vested	(4.5)	60.18		196
Forfeited	(1.5)	55.74
RSUs and PSUs outstanding at July 2, 2021	16.1	50.12
Granted	6.9	60.00
Vested	(5.2)	54.27		317
Forfeited	(2.4)	52.14
RSUs and PSUs outstanding at July 1, 2022	15.4	$	52.89

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

The fair values of ESPP purchase rights have been estimated at the date of grant using a Black-Scholes-Merton option-pricing model with the following weighted average assumptions:

	2022	2021	2020
Weighted-average expected term (in years)	1.25	1.25	1.25
Risk-free interest rate	1.42%	0.10%	0.55%
Stock price volatility	0.48	0.56	0.59
Dividend yield	—%	—%	1.08%
Fair value	$15.56	$21.59	$12.76

Schedule of Shares of Common Stock Reserved for Issuance Table

The following table summarizes all common stock reserved for issuance at July 1, 2022:

	Number of Shares
	(in millions)
Outstanding awards and shares available for award grants	26
ESPP	4
Total	30