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CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Additional Paid in Capital
Retained Earnings (Accumulated Deficit)
Accumulated Other Comprehensive Loss
Net Investment from Western Digital Corporation
Beginning balance (in shares) at Jun. 28, 2024   0        
Beginning balance at Jun. 28, 2024 $ 11,082 $ 0 $ 0 $ 0 $ (452) $ 11,534
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) 211         211
Foreign currency translation adjustment 43       43  
Net unrealized gain (loss) on derivative contracts 166       166  
Stock-based compensation 41         41
Net transfer from Western Digital Corporation 583         583
Ending balance (in shares) at Sep. 27, 2024   0        
Ending balance at Sep. 27, 2024 12,126 $ 0 0 0 (243) 12,369
Beginning balance (in shares) at Jun. 28, 2024   0        
Beginning balance at Jun. 28, 2024 11,082 $ 0 0 0 (452) 11,534
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) (1,618)          
Foreign currency translation adjustment (11)          
Ending balance (in shares) at Mar. 28, 2025   145        
Ending balance at Mar. 28, 2025 9,161 $ 1 11,227 (1,761) (306) 0
Beginning balance (in shares) at Sep. 27, 2024   0        
Beginning balance at Sep. 27, 2024 12,126 $ 0 0 0 (243) 12,369
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) 104         104
Foreign currency translation adjustment (78)       (78)  
Net unrealized gain (loss) on derivative contracts (107)       (107)  
Stock-based compensation 48         48
Net transfer from Western Digital Corporation (92)       (6) (86)
Ending balance (in shares) at Dec. 27, 2024   0        
Ending balance at Dec. 27, 2024 12,001 $ 0 0 0 (434) 12,435
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) (1,933)     (1,761)   (172)
Employee stock plans (7)   (7)      
Foreign currency translation adjustment 24       24  
Net unrealized gain (loss) on derivative contracts 108       108  
Stock-based compensation 44   20     24
Net transfer from Western Digital Corporation (1,076)       (4) (1,072)
Issuance of common stock and reclassification of net transfers from Western Digital Corporation (in shares)   145        
Issuance of common stock and reclassification of net transfers from Western Digital Corporation 0 $ 1 11,214     (11,215)
Ending balance (in shares) at Mar. 28, 2025   145        
Ending balance at Mar. 28, 2025 9,161 $ 1 11,227 (1,761) (306) $ 0
Beginning balance (in shares) at Jun. 27, 2025   146        
Beginning balance at Jun. 27, 2025 9,216 $ 1 11,248 (1,784) (249)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) 112     112    
Employee stock plans (in shares)   1        
Employee stock plans (15)   (15)      
Foreign currency translation adjustment (14)       (14)  
Net unrealized gain (loss) on derivative contracts 29       29  
Stock-based compensation 53   53      
Ending balance (in shares) at Oct. 03, 2025   147        
Ending balance at Oct. 03, 2025 9,381 $ 1 11,286 (1,672) (234)  
Beginning balance (in shares) at Jun. 27, 2025   146        
Beginning balance at Jun. 27, 2025 9,216 $ 1 11,248 (1,784) (249)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) 4,530          
Foreign currency translation adjustment (51)          
Ending balance (in shares) at Apr. 03, 2026   148        
Ending balance at Apr. 03, 2026 13,777 $ 1 11,289 2,746 (259)  
Beginning balance (in shares) at Oct. 03, 2025   147        
Beginning balance at Oct. 03, 2025 9,381 $ 1 11,286 (1,672) (234)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) 803     803    
Employee stock plans (in shares)   1        
Employee stock plans (8)   (8)      
Foreign currency translation adjustment (28)       (28)  
Net unrealized gain (loss) on derivative contracts 7       7  
Stock-based compensation 58   58      
Ending balance (in shares) at Jan. 02, 2026   148        
Ending balance at Jan. 02, 2026 10,213 $ 1 11,336 (869) (255)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net income (loss) 3,615     3,615    
Employee stock plans (101)   (101)      
Foreign currency translation adjustment (9)       (9)  
Net unrealized gain (loss) on derivative contracts 5       5  
Stock-based compensation 54   54      
Ending balance (in shares) at Apr. 03, 2026   148        
Ending balance at Apr. 03, 2026 $ 13,777 $ 1 $ 11,289 $ 2,746 $ (259)