Discontinued Operations (Tables)

9 Months Ended

Mar. 28, 2025

Discontinued Operations and Disposal Groups [Abstract]

Disposal Groups, Including Discontinued Operations

The following table provides a summary of the assets and liabilities classified as discontinued operations:

Assets and Liabilities of Discontinued Operations	June 28, 2024
	(in millions)
Assets
Cash and cash equivalents	$	328
Accounts receivable, net	935
Inventories	1,955
Other current assets	313
Current assets of discontinued operations	$	3,531
Property, plant and equipment, net	$	808
Notes receivable and investments in Flash Ventures	991
Goodwill	5,713
Other non-current assets	1,101
Non-current assets of discontinued operations	$	8,613
Liabilities
Accounts payable	$	357
Accounts payable to related parties	313
Accrued expenses	427
Income taxes payable	54
Accrued compensation	173
Current liabilities of discontinued operations	$	1,324
Non-current liabilities of discontinued operations	$	368

The following table provides a summary of net income (loss) from discontinued operations, net of taxes:

	Three Months Ended				Nine Months Ended
Net Income (Loss) from Discontinued Operations, Net of Taxes	March 28, 2025		March 29, 2024		March 28, 2025		March 29, 2024
	(in millions)
Revenue, net	$	602	$	1,705	$	4,361	$	4,926
Cost of revenue	485		1,223		2,892		4,410
Operating expenses:
Research and development	185		251		718		686
Selling, general and administrative	84		27		229		66
Gain on business divestiture	—		—		(113)		—
Business separation costs	57		23		144		59
Employee termination, asset impairment and other	—		2		3		(74)
Operating income (loss)	(209)		179		488		(221)
Total interest and other income (expense), net	1		11		(36)		4
Income (loss) before taxes	(208)		190		452		(217)
Income tax expense	44		47		236		101
Net income (loss) from discontinued operations, net of taxes	$	(252)	$	143	$	216	$	(318)

The following table provides selected financial information related to cash flows from discontinued operations:

	Nine Months Ended
Select Cash Flow Information from Discontinued Operations	March 28, 2025		March 29, 2024
	(in millions)
Depreciation and amortization	$	117	$	166
Purchases of property, plant and equipment	139		128
Stock-based compensation	98		71