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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Oct. 03, 2025
Sep. 27, 2024
Cash flows from operating activities    
Net income $ 112 $ 211
Adjustments to reconcile net income to net cash provided by (used in) operations:    
Depreciation and amortization 36 54
Stock-based compensation 53 41
Deferred income taxes 3 (5)
Unrealized foreign exchange (gain) loss 1 (8)
Loss on sale of business divestiture 10 0
Amortization of debt issuance costs and discounts 2 0
Equity loss in investees, net of dividends received 27 10
Other non-cash operating activities, net (6) 6
Settlement of accrued interest on Notes due to Western Digital Corporation 0 (96)
Changes in:    
Accounts receivable, net (125) (102)
Inventories 172 (149)
Accounts payable 30 33
Accounts payable to related parties 86 39
Accrued expenses (43) (172)
Accrued compensation 35 (13)
Other assets and liabilities, net 95 20
Net cash provided by (used in) operating activities 488 (131)
Cash flows from investing activities    
Purchases of property, plant and equipment (50) (67)
Proceeds from dispositions of business 25 0
Notes receivable issuances to Flash Ventures (87) (14)
Notes receivable proceeds from Flash Ventures 97 62
Net cash used in investing activities (15) (19)
Cash flows from financing activities    
Taxes paid on vested stock awards under employee stock plans (15) 0
Repayment of debt (500) 0
Proceeds from principal repayments on Notes due from Western Digital Corporation 0 101
Repayments of principal on Notes due to Western Digital Corporation 0 (76)
Transfers from Western Digital Corporation 0 189
Net cash provided by (used in) financing activities (515) 214
Effect of exchange rate changes on cash 3 1
Changes in cash and cash equivalents classified as assets held for sale 0 (71)
Net decrease in cash and cash equivalents (39) (6)
Cash and cash equivalents, beginning of year 1,481 328
Cash and cash equivalents, end of period 1,442 322
Supplemental disclosure of cash flow information:    
Cash paid for interest 48 98
Cash received for interest 16 1
Cash paid for income taxes 39 0
Notes due to Western Digital Corporation 0 378
Changes in other assets and liabilities, net, from Western Digital Corporation 0 6
Property, plant and equipment from Western Digital Corporation 0 3
Tax balances to Western Digital Corporation $ 0 $ 7