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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Mar. 28, 2025
Mar. 29, 2024
Cash flows from operating activities    
Net income (loss) from continuing operations $ 1,607 $ (837)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operations:    
Depreciation and amortization 365 430
Stock-based compensation 220 226
Deferred income taxes (682) (120)
Gain on disposal of assets (3) (87)
Gain on business divestiture (113) 0
Asset impairment 0 99
Gain on repurchase of debt 0 (4)
Amortization of debt issuance costs and discounts 21 14
Unrealized loss on retained interest in Sandisk 606 0
Other non-cash operating activities, net 75 24
Changes in:    
Accounts receivable, net 96 (202)
Inventories (429) 483
Accounts payable 341 211
Accounts payable to related parties (39) 18
Accrued expenses (316) (310)
Income taxes payable (80) (524)
Accrued compensation (131) 97
Other assets and liabilities, net (593) (178)
Net cash provided by (used in) operating activities 945 (660)
Cash flows from investing activities    
Purchases of property, plant and equipment (341) (371)
Proceeds from the sale of property, plant and equipment 5 195
Net proceeds from business divestiture 401 0
Notes receivable issuances to Flash Ventures (266) (184)
Notes receivable proceeds from Flash Ventures 239 391
Distribution from Flash Ventures 175 0
Strategic investments and other, net 7 0
Net cash provided by investing activities 220 31
Cash flows from financing activities    
Issuance of stock under employee stock plans 69 40
Taxes paid on vested stock awards under employee stock plans (92) (66)
Convertible preferred stock issuance costs 0 (5)
Purchase of capped calls 0 (155)
Repurchases of debt 0 (505)
Repayments of debt (257) (1,267)
Proceeds from debt 2,150 2,500
Debt issuance costs (74) (36)
Cash transferred to Sandisk related to Separation (1,366) 0
Net cash provided by financing activities 430 506
Effect of exchange rate changes on cash 3 (6)
Net increase in cash and cash equivalents 1,598 (129)
Cash and cash equivalents, beginning of year 1,879 2,023
Cash and cash equivalents, end of period 3,477 1,894
Supplemental disclosure of cash flow information:    
Cash paid for income taxes 762 874
Cash paid for interest $ 295 $ 321