CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 27, 2025	Jun. 28, 2024
Current assets:
Cash and cash equivalents	$ 1,481	$ 328
Accounts receivable, net	1,068	935
Inventories	2,079	1,955
Income tax receivable	66	7
Other current assets	392	221
Total current assets	5,086	3,548
Non-current assets:
Property, plant and equipment, net	619	791
Notes receivable and investments in Flash Ventures	654	1,001
Goodwill	4,999	7,207
Deferred tax assets	58	96
Income tax receivable, non-current	80	11
Other non-current assets	1,489	852
Total assets	12,985	13,506
Current liabilities:
Accrued expenses	425	424
Accrued compensation	173	195
Income tax payables	43	20
Current portion of long-term debt	20	0
Total current liabilities	1,427	2,123
Non-current liabilities:
Deferred tax liabilities	17	15
Long-term debt	1,829	0
Other liabilities	496	286
Total liabilities	3,769	2,424
Commitments and contingencies (Notes 10, 11, 14 and 16)
Shareholders’ equity:
Common stock, $0.01 par value; authorized — 450 shares; issued and outstanding — 146 shares	1	0
Additional paid-in capital	11,248	0
Accumulated deficit	(1,784)	0
Accumulated other comprehensive loss	(249)	(452)
Net investment from Western Digital Corporation	0	11,534
Total shareholders’ equity	9,216	11,082
Total liabilities and shareholders’ equity	12,985	13,506
Related Party
Current assets:
Notes due from Western Digital Corporation	0	102
Current liabilities:
Accounts payable	400	313
Notes due to Western Digital Corporation	0	814
Nonrelated Party
Current liabilities:
Accounts payable	$ 366	$ 357