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Summarized Financial Information
 12 Months Ended
Jun. 27, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Summarized Financial Information Summarized Financial Information
Pursuant to Rule 4-08(g) of Regulation S-X under the Securities Act of 1933, as amended, the Company presents, on an equity method basis, summarized financial information for its non-consolidated joint ventures, including the Flash Ventures, the Unis Venture, and SDSS. The summarized financial information below includes the portions attributable to both the Company and the other investees in these entities.
The Company has been an investee in the Flash Ventures for all periods presented. The Company’s investment in SDSS was established upon the divestiture of the business on September 28, 2024, and its investment in the Unis Venture was transferred to the Company on January 24, 2025, See Note 10, Related Parties and Related Commitments and Contingencies for additional disclosures.
Accordingly, the summarized financial information of these ventures for the year ended June 30, 2025 includes the results of Flash Ventures, the Unis Venture and SDSS; whereas the comparative periods for the years ended June 28, 2024 and June 30, 2023, include only the Flash Ventures.
The table below presents the combined summarized financial information for these periods:
20252024
(in millions)
Current assets
$1,423 $777 
Non-current assets
6,185 5,783 
Total Assets
7,608 6,560 
Current Liabilities
2,797 2,225 
Non-current Liabilities
3,701 3,312 
Total Liabilities
6,498 5,537 
Total net equity of investees
$1,110 $1,023 
202520242023
(in millions)
Net sales
$2,315 $2,252 $2,788 
Gross profit (loss)
(101)(51)138 
Net income (loss)
$(63)$(9)$89