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Shareholders' Equity
 6 Months Ended
Dec. 30, 2022
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., 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 EndedSix Months Ended
December 30,
2022		December 31,
2021		December 30,
2022		December 31,
2021
(in millions)
RSUs and PSUs$79 $78 $154 $145 
ESPP7 9 18 18 
Total$86 $87 $172 $163 

Three Months EndedSix Months Ended
December 30,
2022		December 31,
2021		December 30,
2022		December 31,
2021
(in millions)
Cost of revenue$12 $14 $26 $23 
Research and development40 43 79 83 
Selling, general and administrative34 30 67 57 
Subtotal86 87 172 163 
Tax benefit(11)(13)(24)(28)
Total$75 $74 $148 $135 

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 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 December 30, 2022:
Unamortized Compensation CostsWeighted Average Service Period
(in millions)(years)
RSUs and PSUs (1)
$571 2.4
ESPP89 1.9
Total unamortized compensation cost$660 
(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. All outstanding options were exercisable at December 30, 2022:
Number of SharesWeighted Average Exercise Price Per ShareWeighted Average Remaining Contractual Life
(in millions)(in years)
Options outstanding at July 1, 20220.9 $66.76 0.54
Canceled or expired(0.5)83.50 
Options outstanding at December 30, 20220.4 $44.63 0.57

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 1, 202215.4 $52.89 
Granted4.7 43.34 
Vested(4.7)53.76 $200 
Forfeited(0.9)58.54 
RSUs and PSUs outstanding at December 30, 202214.5 $49.18 

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 six months ended December 30, 2022 and has not repurchased any shares of its common stock pursuant to its stock repurchase program since the first quarter of fiscal 2019. Although the Company will reevaluate the repurchasing of common stock when appropriate, there can be no assurance if, when or at what level the Company may resume such activity. The remaining amount available to be repurchased under the Company’s current stock repurchase program as of December 30, 2022 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.