CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Oct. 03, 2025	Jun. 27, 2025
Current assets:
Cash and cash equivalents	$ 2,048	$ 2,114
Accounts receivable, net	1,355	1,486
Inventories	1,393	1,291
Retained interest in Sandisk	965	354
Other current assets	514	611
Total current assets	6,275	5,856
Non-current assets:
Property, plant and equipment, net	2,345	2,343
Goodwill	4,319	4,319
Other non-current assets	1,420	1,484
Total assets	14,359	14,002
Current liabilities:
Accounts payable	1,533	1,266
Accrued expenses	703	719
Accrued compensation	413	407
Income taxes payable	298	800
Current portion of long-term debt	2,226	2,226
Total current liabilities	5,173	5,418
Non-current liabilities:
Long-term debt	2,457	2,485
Other liabilities	612	559
Total liabilities	8,242	8,462
Commitments and contingencies (Notes 8 and 14)
Convertible preferred stock, $0.01 par value; authorized — 5 shares; issued and outstanding — 0.2 shares as of both October 3, 2025 and June 27, 2025; aggregate liquidation preference of $265 as of both October 3, 2025 and June 27, 2025	229	229
Shareholders’ equity:
Common stock, $0.01 par value; authorized — 750 shares; issued — 349 shares as of both October 3, 2025 and June 27, 2025; issued and outstanding — 342 shares and 347 shares as of October 3, 2025 and June 27, 2025, respectively	3	3
Additional paid-in capital	4,550	4,621
Accumulated other comprehensive income	14	20
Retained earnings	1,904	762
Treasury stock — common shares at cost; 7 shares and 2 shares	(583)	(95)
Total shareholders’ equity	5,888	5,311
Total liabilities, convertible preferred stock and shareholders’ equity	$ 14,359	$ 14,002