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CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($)
shares in Thousands, $ in Millions
Total
Common Stock
Additional Paid in Capital
Accumulated Deficit
Accumulated Other Comprehensive Loss
Net Investment from Western Digital Corporation
Beginning balance at Jun. 30, 2023 $ 11,439 $ 0 $ 0 $ 0 $ (343) $ 11,782
Beginning balance (shares) at Jun. 30, 2023   0        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net Income (Loss) (518)         (518)
Foreign currency translation adjustment (16)       (16)  
Net unrealized gain (loss) on derivative contracts (39)       (39)  
Stock-based compensation 40         40
Net transfers to Western Digital Corporation, including spin-off-related adjustments 19         19
Ending balance (shares) at Sep. 29, 2023   0        
Ending balance at Sep. 29, 2023 10,925 $ 0 0 0 (398) 11,323
Beginning balance at Jun. 30, 2023 11,439 $ 0 0 0 (343) 11,782
Beginning balance (shares) at Jun. 30, 2023   0        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net Income (Loss) (792)          
Foreign currency translation adjustment (21)          
Ending balance (shares) at Mar. 29, 2024   0        
Ending balance at Mar. 29, 2024 10,939 $ 0 0 0 (400) 11,339
Beginning balance at Sep. 29, 2023 10,925 $ 0 0 0 (398) 11,323
Beginning balance (shares) at Sep. 29, 2023   0        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net Income (Loss) (301)         (301)
Foreign currency translation adjustment 24       24  
Net unrealized gain (loss) on derivative contracts 59       59  
Stock-based compensation 37         37
Net transfers to Western Digital Corporation, including spin-off-related adjustments 152         152
Ending balance (shares) at Dec. 29, 2023   0        
Ending balance at Dec. 29, 2023 10,896 $ 0 0 0 (315) 11,211
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net Income (Loss) 27         27
Foreign currency translation adjustment (29)       (29)  
Net unrealized gain (loss) on derivative contracts (56)       (56)  
Stock-based compensation 38         38
Net transfers to Western Digital Corporation, including spin-off-related adjustments 63         63
Ending balance (shares) at Mar. 29, 2024   0        
Ending balance at Mar. 29, 2024 10,939 $ 0 0 0 (400) 11,339
Beginning balance at Jun. 28, 2024 11,082 $ 0 0 0 (452) 11,534
Beginning balance (shares) at Jun. 28, 2024   0        
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 transfers to Western Digital Corporation, including spin-off-related adjustments 583         583
Ending balance (shares) at Sep. 27, 2024   0        
Ending balance at Sep. 27, 2024 12,126 $ 0 0 0 (243) 12,369
Beginning balance at Jun. 28, 2024 11,082 $ 0 0 0 (452) 11,534
Beginning balance (shares) at Jun. 28, 2024   0        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net Income (Loss) (1,618)          
Foreign currency translation adjustment (11)          
Net transfers to Western Digital Corporation, including spin-off-related adjustments (10)          
Ending balance (shares) at Mar. 28, 2025   145,000        
Ending balance at Mar. 28, 2025 9,161 $ 1 11,227 (1,761) (306) 0
Beginning balance at Sep. 27, 2024 12,126 $ 0 0 0 (243) 12,369
Beginning balance (shares) at Sep. 27, 2024   0        
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 transfers to Western Digital Corporation, including spin-off-related adjustments (92)       (6) (86)
Ending balance (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)
Foreign currency translation adjustment 24       24  
Net unrealized gain (loss) on derivative contracts 108       108  
Stock-based compensation 44   20     24
Shares Granted, Value, Share-Based Payment Arrangement, after Forfeiture (7)   (7)      
Net transfers to Western Digital Corporation, including spin-off-related adjustments (1,076)       (4) (1,072)
Issuance of common stock and reclassification of net transfers from Western Digital Corporation (in shares) 0 $ 1 11,214     (11,215)
Issuance of common stock and reclassification of net transfers from Western Digital Corporation   145,000        
Ending balance (shares) at Mar. 28, 2025   145,000        
Ending balance at Mar. 28, 2025 $ 9,161 $ 1 $ 11,227 $ (1,761) $ (306) $ 0