Business Segments, Geographic Information, and Concentrations of Risk (Tables)

12 Months Ended

Jun. 28, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table summarizes the operating performance of the Company’s reportable segments:

	2024			2023			2022
	(in millions, except percentages)
Revenue, net:
Flash	$	6,687		$	6,063		$	9,753
HDD	6,316			6,255			9,040
Total net revenue	$	13,003		$	12,318		$	18,793
Gross profit:
Flash	$	1,079		$	433		$	3,527
HDD	1,881			1,505			2,661
Total gross profit for segments	2,960			1,938			6,188
Unallocated corporate items:
Stock-based compensation expense	(49)			(49)			(48)
Amortization of acquired intangible assets	(3)			—			(66)
Recovery from contamination incident	37			—			—
Contamination related charges	—			—			(207)
Recoveries from a power outage incident	—			—			7
Other	—			(2)			—
Total unallocated corporate items	(15)			(51)			(314)
Consolidated gross profit	$	2,945		$	1,887		$	5,874
Gross margin:
Flash	16.1		%	7.1		%	36.2		%
HDD	29.8		%	24.1		%	29.4		%
Consolidated gross margin	22.6		%	15.3		%	31.3		%

Schedule of Disaggregation of Revenue

The Company’s disaggregated revenue information is as follows:

	2024		2023		2022
	(in millions)
Revenue by end market
Cloud	$	5,378	$	5,252	$	8,017
Client	4,647		4,328		7,076
Consumer	2,978		2,738		3,700
Total revenue	$	13,003	$	12,318	$	18,793

Schedule of Revenue from External Customers by Geographic Areas

The Company’s operations outside the United States include manufacturing facilities in China, Japan, Malaysia, the Philippines and Thailand, as well as sales offices throughout the Americas, Asia Pacific, Europe, the Middle East and Africa. The following tables summarize the Company’s operations by geographic area:

	2024		2023		2022
	(in millions)
Net revenue (1)
United States	$	3,585	$	3,810	$	5,411
China	3,037		2,773		4,525
Hong Kong	2,375		1,829		3,645
Rest of Asia	1,490		1,444		1,884
Europe, Middle East and Africa	2,130		2,100		2,872
Other	386		362		456
Total	$	13,003	$	12,318	$	18,793

(1)    Net revenue is attributed to geographic regions based on the ship-to location of the customer. License and royalty revenue is attributed to countries based upon the location of the headquarters of the licensee.

Schedule of Long-lived Assets by Geographic Areas

	2024		2023
	(in millions)
Long-lived assets (1)
United States	$	897	$	1,071
Malaysia	718		861
China	338		397
Thailand	825		851
Rest of Asia	353		393
Europe, Middle East and Africa	36		47
Total	$	3,167	$	3,620

(1)    Long-lived assets include property, plant and equipment and are attributed to the geographic location in which they are located.

Schedule of Goodwill

The following table provides a summary of goodwill activity for the period:

	Flash		HDD		Total
	(in millions)
Balance at June 30, 2023	$	5,716	$	4,321	$	10,037
Foreign currency translation adjustment	(3)		(2)		(5)
Balance at June 28, 2024	$	5,713	$	4,319	$	10,032