Employee Termination, Asset Impairment, and Other Charges

6 Months Ended

Dec. 30, 2022

Postemployment Benefits [Abstract]

Employee Termination, Asset Impairment, and Other Charges

Employee Termination, Asset Impairment, and Other Charges

Business Realignment

The Company periodically incurs charges as part of the integration process of recent acquisitions and to realign its operations with anticipated market demand, primarily consisting of organization rationalization designed to streamline its business, reduce its cost structure and focus its resources. The Company recorded the following charges related to these actions:

	Three Months Ended				Six Months Ended
	December 30, 2022		December 31, 2021		December 30, 2022		December 31, 2021
	(in millions)
Employee termination benefits	$	61	$	3	$	85	$	18
Asset impairments and losses on disposal of assets	15		(1)		15		2
Total employee termination, asset impairment, and other charges	$	76	$	2	$	100	$	20

The following table presents an analysis of the components of these activities against the reserve during the six months ended December 30, 2022:

	Employee Termination Benefits
	(in millions)
Accrual balance at July 1, 2022	$	17
Charges	85
Cash payments	(69)
Accrual balance at December 30, 2022	$	33