CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jan. 02, 2026	Jun. 27, 2025
Current assets:
Cash and cash equivalents	$ 1,975	$ 2,114
Accounts receivable, net	1,685	1,486
Inventories	1,349	1,291
Retained interest in Sandisk	2,068	354
Other current assets	454	611
Total current assets	7,531	5,856
Non-current assets:
Property, plant and equipment, net	2,352	2,343
Goodwill	4,319	4,319
Other non-current assets	1,409	1,484
Total assets	15,611	14,002
Current liabilities:
Accounts payable	1,497	1,266
Accrued expenses	771	719
Accrued compensation	459	407
Income taxes payable	223	800
Current portion of long-term debt	2,226	2,226
Total current liabilities	5,176	5,418
Non-current liabilities:
Long-term debt	2,429	2,485
Other liabilities	666	559
Total liabilities	8,271	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 January 2, 2026 and June 27, 2025; aggregate liquidation preference of $265 as of both January 2, 2026 and June 27, 2025	229	229
Shareholders’ equity:
Common stock, $0.01 par value; authorized — 750 shares; issued — 349 shares as of both January 2, 2026 and June 27, 2025; issued and outstanding — 340 shares and 347 shares as of January 2, 2026 and June 27, 2025, respectively	3	3
Additional paid-in capital	4,502	4,621
Accumulated other comprehensive income	18	20
Retained earnings	3,697	762
Treasury stock — common shares at cost; 9 shares and 2 shares	(1,109)	(95)
Total shareholders’ equity	7,111	5,311
Total liabilities, convertible preferred stock and shareholders’ equity	$ 15,611	$ 14,002