Supplemental Financial Statement Data (Tables)

9 Months Ended

Mar. 28, 2025

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)
Impairment charges	(1,830)
Foreign currency translation adjustment	2
Balance at March 28, 2025	$	4,997

(1) On September 28, 2024, the Company sold its majority interest in a subsidiary. See further discussion in Part 1, Item 1, Note 10, Related Parties and Related Commitments and Contingencies of the Notes to Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q.

Schedule of Inventories

Inventories

	March 28, 2025		June 28, 2024
	(in millions)
Inventories:
Raw materials and component parts	$	1,625	$	1,398
Work-in-process	210		237
Finished goods	325		320
Total inventories	$	2,160	$	1,955

Schedule of Property, Plant and Equipment, Net

Property, plant and equipment, net

	March 28, 2025		June 28, 2024
	(in millions)
Property, plant and equipment:
Land	$	10	$	10
Machinery and equipment	1,481		2,340
Buildings and improvements	372		397
Computer equipment and software	170		123
Furniture and fixtures	18		16
Construction-in-process	46		108
Property, plant and equipment, gross	2,097		2,994
Accumulated depreciation	(1,494)		(2,203)
Property, plant and equipment, net	$	603	$	791

Schedule of Product Warranty Liability

Product warranty liability

Changes in the warranty accrual were as follows:

	Three Months Ended				Nine Months Ended
	March 28, 2025		March 29, 2024		March 28, 2025		March 29, 2024
	(in millions)
Warranty accrual, beginning of period	$	44	$	43	$	48	$	42
Charges to operations	5		7		14		21
Utilization	(10)		(8)		(27)		(25)
Changes in estimate related to pre-existing warranties	—		1		4		5
Warranty accrual, end of period	$	39	$	43	$	39	$	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:

	March 28, 2025		June 28, 2024
	(in millions)
Warranty accrual:
Current portion	$	19	$	27
Long-term portion	20		21
Total warranty accrual	$	39	$	48

Schedule of Other Liabilities

Other liabilities

	March 28, 2025		June 28, 2024
	(in millions)
Other liabilities:
Non-current lease liability	$	196	$	171
Non-current net tax payable	119		56
Tax indemnification liability	110		—
Other non-current liabilities	55		59
Total other liabilities	$	480	$	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)	(11)		175		164
Income tax expense related to items of other comprehensive income	—		(8)		(8)
Net current-period other comprehensive income (loss)	(11)		167		156
Net transfer to Western Digital Corporation	(4)		(6)		(10)
Balance at March 28, 2025	$	(223)	$	(83)	$	(306)