Shareholders' Equity and Convertible Preferred Stock (Tables)

9 Months Ended

Mar. 29, 2024

Share-Based Payment Arrangement [Abstract]

Schedule 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 (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 Ended				Nine Months Ended
	March 29, 2024		March 31, 2023		March 29, 2024		March 31, 2023
	(in millions)
RSUs and PSUs	$	65	$	63	$	198	$	217
ESPP	12		11		28		29
Total	$	77	$	74	$	226	$	246

	Three Months Ended				Nine Months Ended
	March 29, 2024		March 31, 2023		March 29, 2024		March 31, 2023
	(in millions)
Cost of revenue	$	11	$	12	$	37	$	38
Research and development	36		37		102		116
Selling, general and administrative	30		25		87		92
Subtotal	77		74		226		246
Tax benefit	(10)		(11)		(30)		(35)
Total	$	67	$	63	$	196	$	211

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 March 29, 2024:

	Unamortized Compensation Costs		Weighted Average Service Period
	(in millions)		(years)
RSUs and PSUs (1)	$	454	2.4
ESPP	33		0.7
Total unamortized compensation cost	$	487

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

Schedule of Stock Options

The following table summarizes stock option activity under the Company’s incentive plans. As of March 29, 2024, there were no remaining outstanding options.

	Number of Shares	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life
	(in millions)			(in years)
Options outstanding at June 30, 2023	0.3	$	44.95	0.10
Canceled or expired	(0.3)	44.95
Options outstanding at March 29, 2024	—	$	—

Schedule of RSUs and PSUs

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 30, 2023	13.8	$	46.56
Granted	5.7	38.31
Vested	(4.9)	47.62		$	228
Forfeited	(1.4)	45.76
RSUs and PSUs outstanding at March 29, 2024	13.2	$	43.36