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CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($)
shares in Millions, $ in Millions
Total
Common Stock
Additional Paid in Capital
Accumulated Deficit
Accumulated Other Comprehensive Loss
Net Investment from Western Digital Corporation
Beginning balance at Jul. 01, 2022 $ 12,977 $ 0 $ 0 $ 0 $ (407) $ 13,384
Beginning balance (shares) at Jul. 01, 2022   0        
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net Income (Loss) (2,143)         (2,143)
Foreign currency translation adjustment (35)       (35)  
Net unrealized gain (loss) on derivative contracts 99       99  
Stock-based compensation 165         165
Net transfers to Western Digital Corporation, including spin-off-related adjustments 376         376
Ending balance (shares) at Jun. 30, 2023   0        
Ending balance at Jun. 30, 2023 11,439 $ 0 0 0 (343) 11,782
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net Income (Loss) (672)         (672)
Foreign currency translation adjustment (43)       (43)  
Net unrealized gain (loss) on derivative contracts (66)       (66)  
Stock-based compensation 149         149
Net transfers to Western Digital Corporation, including spin-off-related adjustments 275         275
Ending balance (shares) at Jun. 28, 2024   0        
Ending balance at Jun. 28, 2024 11,082 $ 0 0 0 (452) 11,534
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Net Income (Loss) (1,641)     (1,784)   143
Foreign currency translation adjustment 10       10  
Net unrealized gain (loss) on derivative contracts 203       203  
Stock-based compensation 182   67     115
Net transfers to Western Digital Corporation, including spin-off-related adjustments (612)       (10) (602)
Issuance of common stock and reclassification of net transfers from Western Digital Corporation   145        
Issuance of common stock and reclassification of net transfers from Western Digital Corporation (in shares) 0 $ 1 11,189     (11,190)
Employee stock plans (in shares)   1        
Employee stock plans (8)   (8)      
Ending balance (shares) at Jun. 27, 2025   146        
Ending balance at Jun. 27, 2025 $ 9,216 $ 1 $ 11,248 $ (1,784) $ (249) $ 0