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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Dec. 27, 2024
Dec. 29, 2023
Cash flows from operating activities    
Net Income (Loss) $ 315 $ (819)
Adjustments to reconcile net income (loss) to net cash used in operations:    
Depreciation and amortization 90 114
Stock-based compensation 89 77
Deferred income taxes 23 1
Gain on disposal of assets (1) (60)
Non-cash portion of impairment of cost method investments 1 0
Unrealized foreign exchange (gain) loss (5) 26
Gain on business divestiture (34) 0
Equity loss in investees, net of dividends received 59 4
Other non-cash operating activities, net 10 41
Settlement of accrued interest on Notes due to Parent (96) 0
Changes in:    
Accounts receivable, net 31 (145)
Inventories (252) 657
Accounts payable 57 100
Accounts payable to related parties (54) (42)
Accrued expenses 13 (90)
Accrued compensation 6 7
Other assets and liabilities, net (288) (38)
Net cash used in operating activities (36) (167)
Cash flows from investing activities    
Purchases of property, plant and equipment (115) (99)
Proceeds from the sale of property, plant and equipment 0 134
Proceeds from dispositions of business 191 0
Notes receivable issuances to Flash Ventures (266) (184)
Notes receivable proceeds from Flash Ventures 182 263
Distributions from Flash Ventures 176 0
Strategic investments and other, net 1  
Strategic investments and other, net   (1)
Net cash provided by investing activities 169 113
Cash flows from financing activities    
Proceeds from borrowings on Notes due to Parent 550 0
Proceeds from principal repayments on Notes due from Parent 101 0
Repayments of principal on Notes due to Parent (76) (14)
Transfers from (to) Parent (231) 274
Origination of Notes due from Parent 0 (74)
Net cash provided by financing activities 344 186
Effect of exchange rate changes on cash (1) 1
Net increase in cash and cash equivalents 476 133
Cash and cash equivalents, beginning of year 328 292
Cash and cash equivalents, end of period 804 425
Supplemental disclosure of cash flow information:    
Cash paid for interest 99 6
Cash received for interest 2 7
Non-cash transfers of Notes due to Parent transferred from Parent 673 0
Non-cash transfers of property, plant and equipment from Parent 25 2
Non-cash transfers of other assets and liabilities, net, from Parent 37 0
Non-cash transfers of strategic investments from Parent 7 0
Non-cash transfers of liability for unrecognized tax benefits transferred from Parent 14 0
Non-cash transfers of deferred taxes from Parent 0 8
Non-cash transfers of Notes due from Parent transferred to Parent $ 0 $ 113