Supplemental Financial Statement Data (Tables)

6 Months Ended

Dec. 27, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Carrying Amount of Goodwill

The following table provides a summary of goodwill activity for the period presented:

	(in millions)
Balance at June 28, 2024	$	7,207
Divestiture (1)	(382)
Balance at September 27, 2024	$	6,825

(1) On September 28, 2024, the Company sold its majority interest in a subsidiary. See further discussion in Part 1, Item 1, Note 9, Related Parties and Related Commitments and Contingencies.

Schedule of Inventories

Inventories

	December 27, 2024		June 28, 2024
	(in millions)
Inventories:
Raw materials and component parts	$	1,661	$	1,398
Work-in-process	208		237
Finished goods	303		320
Total inventories	$	2,172	$	1,955

Schedule of Property, Plant and Equipment, Net

Property, plant and equipment, net

	December 27, 2024		June 28, 2024
	(in millions)
Property, plant and equipment:
Land	$	10	$	10
Machinery and equipment	1,463		2,340
Buildings and improvements	280		397
Computer equipment and software	153		123
Furniture and fixtures	18		16
Construction-in-process	114		108
Property, plant and equipment, gross	2,038		2,994
Accumulated depreciation	(1,459)		(2,203)
Property, plant and equipment, net	$	579	$	791

Schedule of Product Warranty Liability

Product warranty liability

Changes in the warranty accrual were as follows:

	Three Months Ended				Six Months Ended
	December 27, 2024		December 29, 2023		December 27, 2024		December 29, 2023
	(in millions)
Warranty accrual, beginning of period	$	41	$	40	$	48	$	42
Charges to operations	8		8		9		15
Utilization	(9)		(7)		(17)		(17)
Changes in estimate related to pre-existing warranties	4		2		4		3
Warranty accrual, end of period	$	44	$	43	$	44	$	43

The current portion of the warranty accrual was classified in Accrued expenses and the long-term portion was classified in Other liabilities as noted below:

	December 27, 2024		June 28, 2024
	(in millions)
Warranty accrual:
Current portion	$	22	$	27
Long-term portion	22		21
Total warranty accrual	$	44	$	48

Schedule of Other Liabilities

Other liabilities

	December 27, 2024		June 28, 2024
	(in millions)
Other liabilities:
Non-current lease liability	$	179	$	171
Non-current net tax payable	66		56
Other non-current liabilities	62		59
Total other liabilities	$	307	$	286

Schedule of Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss (“AOCL”), net of tax, refers to expenses, gains, and losses that are recorded as an element of equity but are excluded from net income. The components of AOCL were as follows:

	Foreign Currency Translation Adjustment		Unrealized Income (Losses) on Derivative Contracts		Total Accumulated Comprehensive Loss
	(in millions)
Balance at June 28, 2024	$	(208)	$	(244)	$	(452)
Other comprehensive income (loss)	(35)		74		39
Income tax expense related to items of other comprehensive income	—		(15)		(15)
Net current-period other comprehensive income (loss)	(35)		59		24
Net transfer to Parent	—		(6)		(6)
Balance at December 27, 2024	$	(243)	$	(191)	$	(434)