Fair Value Measurements and Investments (Tables)

12 Months Ended

Jun. 28, 2024

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of June 28, 2024 and June 30, 2023, and indicate the fair value hierarchy of the valuation techniques utilized to determine such values:

	June 28, 2024
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Cash equivalents – Money market funds	$	416	$	—	$	—	$	416
Foreign exchange contracts	—		8		—		8
Total assets at fair value	$	416	$	8	$	—	$	424
Liabilities:
Foreign exchange contracts	$	—	$	197	$	—	$	197
Total liabilities at fair value	$	—	$	197	$	—	$	197

	June 30, 2023
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Cash equivalents – Money market funds	$	371	$	—	$	—	$	371
Foreign exchange contracts	—		35		—		35
Total assets at fair value	$	371	$	35	$	—	$	406
Liabilities:
Foreign exchange contracts	$	—	$	192	$	—	$	192
Total liabilities at fair value	$	—	$	192	$	—	$	192

Schedule of Related Costs And Fair Values Based On Quoted Market Prices

The following table contains the related carrying value (which includes principal adjusted for any unamortized issuance costs, and discounts or premiums) and fair value (which is based on quoted market prices) for each of the Company’s outstanding financial instruments. Each of the financial instruments presented below was categorized as Level 2 for all periods presented, based on the frequency of trading immediately prior to the end of the fourth quarter of 2024 and the fourth quarter of 2023, respectively.

	June 28, 2024				June 30, 2023
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(in millions)
1.50% convertible notes due 2024	$	—	$	—	$	1,099	$	1,067
3.00% convertible notes due 2028	1,568		2,556		—		—
4.75% senior unsecured notes due 2026	2,296		2,253		2,293		2,193
Variable interest rate Term Loan A-2 maturing 2027	2,578		2,539		2,687		2,661
2.85% senior notes due 2029	496		434		496		400
3.10% senior notes due 2032	496		407		495		371
Total	$	7,434	$	8,189	$	7,070	$	6,692