0000106040-23-000034 | 10-Q | XBRL Viewer

Business Segments, Geographic Information, and Concentrations of Risk

3 Months Ended

Sep. 29, 2023

Business Segments, Geographic Information, and Concentrations of Risk

The following table summarizes the operating performance of the Company’s reportable segments:


	Three Months Ended
	September 29, 2023			September 30, 2022
	$ in millions
Net revenue:
Flash	$	1,556		$	1,722
HDD	1,194			2,014
Total net revenue	$	2,750		$	3,736
Gross profit:
Flash	$	(161)		$	422
HDD	273			574
Total gross profit for segments	112			996
Unallocated corporate items:
Stock-based compensation expense	(13)			(14)
Amortization of acquired intangible assets	—			(1)




Total unallocated corporate items	(13)			(15)
Consolidated gross profit	$	99		$	981
Gross margin:
Flash	(10.3)		%	24.5		%
HDD	22.9		%	28.5		%
Consolidated gross margin	3.6		%	26.3		%

Disaggregated Revenue

The Company’s broad portfolio of technology and products address multiple end markets. Cloud is comprised primarily of products for public or private cloud environments and end customers, which the Company believes it is uniquely positioned to address as the only provider of both Flash and HDD. Through the Client end market, the Company provides its original equipment manufacturer (“OEM”) and channel customers a broad array of high-performance flash and hard drive solutions across personal computer, mobile, gaming, automotive, virtual reality headsets, at-home entertainment, and industrial spaces. The Consumer end market is highlighted by the Company’s broad range of retail and other end-user products, which capitalize on the strength of the Company’s product brand recognition and vast points of presence around the world.

The Company’s disaggregated revenue information is as follows:



	Three Months Ended
		September 29, 2023		September 30, 2022
		(in millions)





Revenue by End Market
Cloud		$	872	$	1,829
Client		1,147		1,229
Consumer		731		678
Total Revenue		$	2,750	$	3,736

Revenue by Geography
Asia		$	1,551	$	1,686
Americas		662		1,423
Europe, Middle East and Africa		537		627
Total Revenue		$	2,750	$	3,736

The Company’s top 10 customers accounted for 44% and 52% of its net revenue for the three months ended September 29, 2023 and September 30, 2022, respectively. For the three months ended September 29, 2023 and September 30, 2022, no single customer accounted for 10% or more of the Company’s net revenue.

Goodwill

Goodwill is not amortized. Instead, it is tested for impairment annually as of the beginning of the Company’s fourth quarter, or more frequently if events or changes in circumstances indicate that goodwill may be impaired. Management performed a goodwill impairment assessment for each segment and concluded there were no impairment indicators as of either the beginning or end of the three months ended September 29, 2023. The following table provides a summary of goodwill activity for the period:


	Flash		HDD		Total
	(in millions)
Balance at June 30, 2023	$	5,716	$	4,321	$	10,037

Foreign currency translation adjustment	(1)		(1)		(2)

Balance at September 29, 2023	$	5,715	$	4,320	$	10,035

Pension and Other Post-Retirement Benefit Plans - Unfunded Amounts Recognized on Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Retirement Benefits [Abstract]
Current liabilities	$ 1	$ 1
Non-current liabilities	84	87
Net amount recognized	$ 85	$ 88

Supplemental Financial Statement Data - Warranty Accrual Roll Forward (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty accrual, beginning of period	$ 244	$ 345
Charges to operations	22	32
Utilization	(43)	(34)
Changes in estimate related to pre-existing warranties	(5)	(3)
Warranty accrual, end of period	$ 218	$ 340

Net Income (Loss) Per Common Share (Tables)

3 Months Ended

Sep. 29, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table presents the computation of basic and diluted income (loss) per common share:


	Three Months Ended
	September 29, 2023		September 30, 2022
	(in millions, except per share data)
Net income (loss)	$	(685)	$	27
Less: cumulative dividends on Preferred Stock	15		—

Net income (loss) attributable to common shareholders	$	(700)	$	27


Weighted average shares outstanding:
Basic	323		316
Employee stock options, RSUs, PSUs, and ESPP	—		3
Diluted	323		319
Net income (loss) per common share
Basic	$	(2.17)	$	0.09
Diluted	$	(2.17)	$	0.08
Anti-dilutive potential common shares excluded	15		8

Fair Value Measurements and Investments

3 Months Ended

Sep. 29, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements and Investments

Financial Instruments Carried at Fair Value

Financial assets and liabilities that are remeasured and reported at fair value at each reporting period are classified and disclosed in one of the following three levels:

Level 1. Quoted prices in active markets for identical assets or liabilities.

Level 2. Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3. Inputs that are unobservable for the asset or liability and that are significant to the fair value of the assets or liabilities.

The following tables present information about the Company’s financial assets and liabilities that are measured at fair value on a recurring basis as of September 29, 2023 and June 30, 2023, and indicate the fair value hierarchy of the valuation techniques utilized to determine such values:


	September 29, 2023
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:

Cash equivalents - Money market funds	$	371	$	—	$	—	$	371


















Foreign exchange contracts	—		28		—		28


Total assets at fair value	$	371	$	28	$	—	$	399
Liabilities:
Foreign exchange contracts	$	—	$	226	$	—	$	226


Total liabilities at fair value	$	—	$	226	$	—	$	226


	June 30, 2023
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:

Cash equivalents - Money market funds	$	371	$	—	$	—	$	371


















Foreign exchange contracts	—		35		—		35


Total assets at fair value	$	371	$	35	$	—	$	406
Liabilities:
Foreign exchange contracts	$	—	$	192	$	—	$	192


Total liabilities at fair value	$	—	$	192	$	—	$	192

During the periods presented, the Company had no transfers of financial assets and liabilities between levels and there were no changes in valuation techniques or the inputs used in the fair value measurement.

Financial Instruments Not Carried at Fair Value

For financial instruments where the carrying value (which includes principal adjusted for any unamortized issuance costs, and discounts or premiums) differs from fair value (which is based on quoted market prices), the following table represents the related carrying value and fair value for each of the Company’s outstanding financial instruments. Each of the financial instruments presented below was categorized as Level 2 for all periods presented, based on the frequency of trading immediately prior to the end of the first quarter of 2024 and the fourth quarter of 2023, respectively.


	September 29, 2023				June 30, 2023
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(in millions)







1.50% convertible notes due 2024	$	1,099	$	1,082	$	1,099	$	1,067
Variable interest rate Delayed Draw Term Loan due 2024	600		606		—		—

4.75% senior unsecured notes due 2026	2,294		2,194		2,293		2,193
Variable interest rate Term Loan A-2 maturing 2027	2,688		2,678		2,687		2,661
2.85% senior notes due 2029	496		401		496		400
3.10% senior notes due 2032	495		367		495		371




Total	$	7,672	$	7,328	$	7,070	$	6,692

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Pension and Other Post-Retirement Benefit Plans - Additional Information (Details)	3 Months Ended
	Sep. 29, 2023
Retirement Benefits [Abstract]
Expected long-term rate of return on plan assets	2.50%

Recent Accounting Pronouncements	3 Months Ended
Recent Accounting Pronouncements	Sep. 29, 2023
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Pronouncements Recently Adopted In September 2022, the Financial Accounting Standards Board issued an accounting standards update (“ASU”) No. 2022-04, “Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations”, which requires annual and interim disclosures for entities that use supplier finance programs in connection with the purchase of goods and services. The ASU requires the Company to provide disclosure of outstanding obligations to such suppliers for all balance sheet dates presented beginning with the Company’s first quarter of 2024 and to provide certain rollforward information related to those obligations beginning in the Company’s first fiscal quarter of 2025. The ASU does not affect the recognition, measurement, or financial statement presentation of supplier finance program obligations. The Company adopted the guidance on the first day of fiscal year 2024, except for the rollforward information, which the Company is compiling and intends to provide beginning in fiscal year 2025. See Note 15, Supplier Finance Program, of the Notes to the Condensed Consolidated Financial Statements for information regarding the supplier finance program.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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+ Details

Organization and Basis of Presentation - Additional Information (Details)	3 Months Ended
	Sep. 29, 2023 segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Cash flows from operating activities
Net income (loss)	$ (685)	$ 27
Adjustments to reconcile net income (loss) to net cash provided by (used in) operations:
Depreciation and amortization	147	216
Stock-based compensation	77	86
Deferred income taxes	(46)	(42)
Loss (Gain) on disposal of assets	(87)	1
Non-cash portion of asset impairment	95	0
Amortization of debt issuance costs and discounts	4	3
Other non-cash operating activities, net	1	44
Changes in:
Accounts receivable, net	147	382
Inventories	201	(224)
Accounts payable	25	(125)
Accounts payable to related parties	(15)	(25)
Accrued expenses	63	(44)
Income taxes payable	(325)	117
Accrued compensation	1	(104)
Other assets and liabilities, net	(229)	(306)
Net cash provided by (used in) operating activities	(626)	6
Cash flows from investing activities
Purchases of property, plant and equipment	(124)	(320)
Proceeds from the sale of property, plant and equipment	193	0
Notes receivable issuances to Flash Ventures	(121)	(84)
Notes receivable proceeds from Flash Ventures	134	183
Strategic investments and other, net	2	(3)
Net cash provided by (used in) investing activities	84	(224)
Cash flows from financing activities
Taxes paid on vested stock awards under employee stock plans	(43)	(50)
Net proceeds from convertible preferred stock	(3)	0
Repayments of debt	0	(300)
Proceeds from debt	600	300
Net cash provided by (used in) financing activities	554	(50)
Effect of exchange rate changes on cash	(3)	(10)
Net increase (decrease) in cash and cash equivalents	9	(278)
Cash and cash equivalents, beginning of year	2,023	2,327
Cash and cash equivalents, end of period	2,032	2,049
Supplemental disclosure of cash flow information:
Cash paid for income taxes	545	134
Cash paid for interest	$ 127	$ 106

Leases and Other Commitments - Supplemental Cash Flow (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Leases [Abstract]
Cost of operating leases	$ 14	$ 14
Cash paid for operating leases	15	14
Operating lease assets obtained in exchange for operating lease liabilities	$ 168	$ 4

Debt - Additional Information (Details) - USD ($)	1 Months Ended	3 Months Ended
Debt - Additional Information (Details) - USD ($)	Aug. 14, 2023	Sep. 29, 2023
Delayed Draw Term Loan Agreement
Debt Instrument [Line Items]
Debt instrument, face amount		$ 600,000,000
Proceeds from delayed draw term loan	$ 600,000,000
Debt instrument, interest rate (percentage)		7.416%
Delayed Draw Term Loan Agreement \| Minimum \| Line of Credit \| SOFR
Debt Instrument [Line Items]
Variable interest rate		1.75%
Delayed Draw Term Loan Agreement \| Minimum \| Line of Credit \| Base Rate
Debt Instrument [Line Items]
Variable interest rate		0.75%
Delayed Draw Term Loan Agreement \| Maximum \| Line of Credit \| SOFR
Debt Instrument [Line Items]
Variable interest rate		2.625%
Delayed Draw Term Loan Agreement \| Maximum \| Line of Credit \| Base Rate
Debt Instrument [Line Items]
Variable interest rate		1.625%
Variable interest rate Term Loan A-2 maturing 2027
Debt Instrument [Line Items]
Debt instrument, interest rate (percentage)		6.807%
Variable interest rate Term Loan A-2 maturing 2027 \| SOFR
Debt Instrument [Line Items]
Variable interest rate		1.375%
Variable interest rate Term Loan A-2 maturing 2027 \| Minimum \| SOFR
Debt Instrument [Line Items]
Variable interest rate		1.125%
Variable interest rate Term Loan A-2 maturing 2027 \| Minimum \| Base Rate
Debt Instrument [Line Items]
Variable interest rate		0.125%
Variable interest rate Term Loan A-2 maturing 2027 \| Maximum \| SOFR
Debt Instrument [Line Items]
Variable interest rate		2.00%
Variable interest rate Term Loan A-2 maturing 2027 \| Maximum \| Base Rate
Debt Instrument [Line Items]
Variable interest rate		1.00%

Supplemental Financial Statement Data

3 Months Ended

Sep. 29, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental Financial Statement Data

Accounts receivable, net

From time to time, in connection with factoring agreements, the Company sells trade accounts receivable without recourse to third-party purchasers in exchange for cash. During the three months ended September 29, 2023 and September 30, 2022, the Company sold trade accounts receivable aggregating $150 million and $291 million, respectively. The discounts on the trade accounts receivable sold were not material and were recorded within Other income (expense), net in the Condensed Consolidated Statements of Operations. As of both September 29, 2023 and June 30, 2023, the amount of factored receivables that remained outstanding was $150 million.

Inventories


	September 29, 2023		June 30, 2023
	(in millions)
Inventories:
Raw materials and component parts	$	1,975	$	2,096
Work-in-process	925		979
Finished goods	597		623
Total inventories	$	3,497	$	3,698

Property, plant and equipment, net


	September 29, 2023		June 30, 2023
	(in millions)
Property, plant and equipment:
Land	$	235	$	269
Buildings and improvements	1,842		1,955
Machinery and equipment	8,691		8,704
Computer equipment and software	473		470
Furniture and fixtures	55		54
Construction-in-process	729		798
Property, plant and equipment, gross	12,025		12,250
Accumulated depreciation	(8,654)		(8,630)
Property, plant and equipment, net	$	3,371	$	3,620

Other Intangible assets, net

As part of prior acquisitions, the Company recorded at the time of the acquisition acquired in-process research and development (“IPR&D”) for projects in progress that had not yet reached technological feasibility. IPR&D is initially accounted for as an indefinite-lived intangible asset. Once a project reaches technological feasibility, the Company reclassifies the balance to existing technology and begins to amortize the intangible asset over its estimated useful life. As of both September 29, 2023, and June 30, 2023, IPR&D included in intangible assets, net was $80 million. As of both September 29, 2023 and June 30, 2023, all other intangible assets were fully amortized.

Product warranty liability

Changes in the warranty accrual were as follows:


	Three Months Ended
	September 29, 2023		September 30, 2022
	(in millions)
Warranty accrual, beginning of period	$	244	$	345

Charges to operations	22		32
Utilization	(43)		(34)
Changes in estimate related to pre-existing warranties	(5)		(3)
Warranty accrual, end of period	$	218	$	340

The current portion of the warranty accrual is classified in Accrued expenses and the long-term portion is classified in Other liabilities as noted below:


	September 29, 2023		June 30, 2023
	(in millions)
Warranty accrual:
Current portion (included in Accrued expenses)	$	61	$	97
Long-term portion (included in Other liabilities)	157		147
Total warranty accrual	$	218	$	244

Other liabilities


	September 29, 2023		June 30, 2023
	(in millions)
Other liabilities:
Non-current net tax payable	$	199	$	464
Non-current portion of unrecognized tax benefits	497		408
Other non-current liabilities	702		543
Total other liabilities	$	1,398	$	1,415

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 shareholders’ equity but are excluded from net income. The following table illustrates the changes in the balances of each component of AOCL:


	Actuarial Pension Losses		Foreign Currency Translation Adjustment		Unrealized Losses on Derivative Contracts		Total Accumulated Comprehensive Loss
	(in millions)















Balance at June 30, 2023	$	(2)	$	(357)	$	(157)	$	(516)
Other comprehensive loss before reclassifications	—		(38)		(101)		(139)
Amounts reclassified from accumulated other comprehensive loss	—		—		43		43
Income tax benefit related to items of other comprehensive loss	—		1		12		13
Net current-period other comprehensive loss	—		(37)		(46)		(83)
Balance at September 29, 2023	$	(2)	$	(394)	$	(203)	$	(599)

During the three months ended September 29, 2023, the amounts reclassified out of AOCL were losses related to foreign exchange contracts that were substantially charged to Cost of revenue in the Condensed Consolidated Statements of Operations.

As of September 29, 2023, substantially all existing net losses related to cash flow hedges recorded in AOCL are expected to be reclassified to earnings within the next twelve months. In addition, as of September 29, 2023, the Company did not have any foreign exchange forward contracts with credit-risk-related contingent features.

Derivative Instruments and Hedging Activities	3 Months Ended
Derivative Instruments and Hedging Activities	Sep. 29, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities As of September 29, 2023, the Company had outstanding foreign exchange forward contracts that were designated as either cash flow hedges or non-designated hedges. Substantially all of the contract maturity dates of these foreign exchange forward contracts do not exceed 12 months. As of September 29, 2023, the Company did not have any derivative contracts with credit-risk-related contingent features. Changes in fair values of the non-designated foreign exchange contracts are recognized in Other income (expense), net and are largely offset by corresponding changes in the fair values of the foreign currency-denominated monetary assets and liabilities. For each of the three months ended September 29, 2023 and September 30, 2022, total net realized and unrealized transaction and foreign exchange contract currency gains and losses were not material to the Company’s Condensed Consolidated Financial Statements. Unrealized gains or losses on designated cash flow hedges are recognized in AOCL. For more information regarding cash flow hedges, see Note 4, Supplemental Financial Statement Data - Accumulated other comprehensive loss. Netting Arrangements Under certain provisions and conditions within agreements with counterparties to the Company’s foreign exchange forward contracts, subject to applicable requirements, the Company has the right of offset associated with the Company’s foreign exchange forward contracts and is allowed to net settle transactions of the same currency with a single net amount payable by one party to the other. As of September 29, 2023 and June 30, 2023, the effect of rights of offset was not material and the Company did not offset or net the fair value amounts of derivative instruments in its Condensed Consolidated Balance Sheets.

Shareholders' Equity and Convertible Preferred Stock - Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation	$ 77	$ 86
Tax benefit	(10)	(13)
Total	67	73
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation	13	14
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation	34	39
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation	30	33
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation	65	75
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation	$ 12	$ 11

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
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-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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-Section 50
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-Subparagraph (c)(2)(i)
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Statement of Financial Position [Abstract]
Convertible preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Convertible preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Convertible preferred stock, shares issued (in shares)	1,000,000	1,000,000
Convertible preferred stock, shares outstanding (in shares)	1,000,000	1,000,000
Convertible preferred stock, liquidation preference	$ 939	$ 924
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	450,000,000	450,000,000
Common stock, shares issued (in shares)	324,000,000	322,000,000
Common stock, shares outstanding (in shares)	324,000,000	322,000,000

Fair Value Measurements and Investments (Tables)

3 Months Ended

Sep. 29, 2023

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis


	September 29, 2023
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:

Cash equivalents - Money market funds	$	371	$	—	$	—	$	371


















Foreign exchange contracts	—		28		—		28


Total assets at fair value	$	371	$	28	$	—	$	399
Liabilities:
Foreign exchange contracts	$	—	$	226	$	—	$	226


Total liabilities at fair value	$	—	$	226	$	—	$	226


	June 30, 2023
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:

Cash equivalents - Money market funds	$	371	$	—	$	—	$	371


















Foreign exchange contracts	—		35		—		35


Total assets at fair value	$	371	$	35	$	—	$	406
Liabilities:
Foreign exchange contracts	$	—	$	192	$	—	$	192


Total liabilities at fair value	$	—	$	192	$	—	$	192


	September 29, 2023				June 30, 2023
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(in millions)







1.50% convertible notes due 2024	$	1,099	$	1,082	$	1,099	$	1,067
Variable interest rate Delayed Draw Term Loan due 2024	600		606		—		—

4.75% senior unsecured notes due 2026	2,294		2,194		2,293		2,193
Variable interest rate Term Loan A-2 maturing 2027	2,688		2,678		2,687		2,661
2.85% senior notes due 2029	496		401		496		400
3.10% senior notes due 2032	495		367		495		371




Total	$	7,672	$	7,328	$	7,070	$	6,692

Related Parties and Related Commitments and Contingencies (Tables)

3 Months Ended

Sep. 29, 2023

Commitments and Contingencies Disclosure [Abstract]

Schedule of Notes Receivable and Investments in Related Parties

The following table presents the notes receivable from, and equity investments in, Flash Ventures:


	September 29, 2023		June 30, 2023
	(in millions)
Notes receivable, Flash Partners	$	21	$	37
Notes receivable, Flash Alliance	35		48
Notes receivable, Flash Forward	699		709
Investment in Flash Partners	155		160
Investment in Flash Alliance	227		234
Investment in Flash Forward	108		109
Total notes receivable and investments in Flash Ventures	$	1,245	$	1,297

Schedule of Variable Interest Entity Maximum Loss Exposure

The Company’s maximum reasonably estimable loss exposure (excluding lost profits) as a result of its involvement with Flash Ventures, based upon the Japanese yen to U.S. dollar exchange rate at September 29, 2023, is presented below. Investments in Flash Ventures are denominated in Japanese yen, and the maximum estimable loss exposure excludes any cumulative translation adjustment due to revaluation from the Japanese yen to the U.S. dollar.


	September 29, 2023
	(in millions)
Notes receivable	$	755
Equity investments	490
Operating lease guarantees	1,590
Inventory and prepayments	1,047
Maximum estimable loss exposure	$	3,882

Schedule of Guarantor Obligations

The following table presents the Company’s portion of the remaining guarantee obligations under the Flash Ventures’ lease facilities in both Japanese yen and U.S. dollar-equivalent, based upon the Japanese yen to U.S. dollar exchange rate as of September 29, 2023.


	Lease Amounts
	(Japanese yen, in billions)		(U.S. dollar, in millions)
Total guarantee obligations	¥	237	$	1,590

Schedule of Remaining Guarantee Obligations

The following table details the breakdown of the Company’s remaining guarantee obligations between the principal amortization and the purchase option exercise price at the end of the term of the Flash Ventures lease agreements, in annual installments as of September 29, 2023 in U.S. dollars, based upon the Japanese yen to U.S. dollar exchange rate as of September 29, 2023:


Annual Installments	Payment of Principal Amortization		Purchase Option Exercise Price at Final Lease Terms		Guarantee Amount
	(in millions)
Remaining nine months of 2024	$	340	$	70	$	410
2025	273		80		353
2026	324		121		445
2027	128		102		230
2028	37		99		136
2029	1		15		16
Total guarantee obligations	$	1,103	$	487	$	1,590

Shareholders' Equity and Convertible Preferred Stock - Unrecognized Share-based Compensation (Details) $ in Millions	3 Months Ended
	Sep. 29, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized Compensation Costs	$ 643
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized Compensation Costs	$ 588
Weighted Average Service Period	2 years 9 months 18 days
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized Compensation Costs	$ 55
Weighted Average Service Period	1 year 2 months 12 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CONVERTIBLE PREFRRED STOCK AND SHAREHOLDERS’ EQUITY - USD ($) shares in Millions, $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-In Capital	Additional Paid-In Capital Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Jul. 01, 2022	0
Beginning balance at Jul. 01, 2022	$ 0
Ending balance (in shares) at Sep. 30, 2022	0
Ending balance at Sep. 30, 2022	$ 0
Common stock, beginning balance (in shares) at Jul. 01, 2022			315
Beginning balance at Jul. 01, 2022	12,221	$ (37)	$ 3	$ 3,733	$ (128)	$ (554)	$ 9,039	$ 91
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	27						27
Employee stock plans (in shares)			3
Employee stock plans	(50)			(50)
Stock-based compensation	86			86
Foreign currency translation adjustment	(80)					(80)
Net unrealized loss on derivative contracts	(60)					(60)
Common stock, ending balance (in shares) at Sep. 30, 2022			318
Ending balance at Sep. 30, 2022	$ 12,107		$ 3	3,641		(694)	9,157
Beginning balance (in shares) at Jun. 30, 2023	1
Beginning balance at Jun. 30, 2023	$ 876
Ending balance (in shares) at Sep. 29, 2023	1
Ending balance at Sep. 29, 2023	$ 876
Common stock, beginning balance (in shares) at Jun. 30, 2023	322		322
Beginning balance at Jun. 30, 2023	$ 10,847		$ 3	3,936		(516)	7,424
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(685)						(685)
Employee stock plans (in shares)			2
Employee stock plans	(43)			(43)
Stock-based compensation	77			77
Foreign currency translation adjustment	(38)					(38)
Net unrealized loss on derivative contracts	$ (45)					(45)
Common stock, ending balance (in shares) at Sep. 29, 2023	324		324
Ending balance at Sep. 29, 2023	$ 10,113		$ 3	$ 3,970		$ (599)	$ 6,739

Supplier Finance Program (Details) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Supplier Finance Program [Line Items]
Supplier finance program, obligation	$ 39	$ 38
Minimum
Supplier Finance Program [Line Items]
Supplier finance program, payment timing, period	60 days
Maximum
Supplier Finance Program [Line Items]
Supplier finance program, payment timing, period	90 days

Related Parties and Related Commitments and Contingencies

3 Months Ended

Sep. 29, 2023

Commitments and Contingencies Disclosure [Abstract]

Flash Ventures

The Company’s business ventures with Kioxia Corporation (“Kioxia”) consist of three separate legal entities: Flash Partners Ltd. (“Flash Partners”), Flash Alliance Ltd. (“Flash Alliance”), and Flash Forward Ltd. (“Flash Forward”), collectively referred to as “Flash Ventures”.

The following table presents the notes receivable from, and equity investments in, Flash Ventures:


	September 29, 2023		June 30, 2023
	(in millions)
Notes receivable, Flash Partners	$	21	$	37
Notes receivable, Flash Alliance	35		48
Notes receivable, Flash Forward	699		709
Investment in Flash Partners	155		160
Investment in Flash Alliance	227		234
Investment in Flash Forward	108		109
Total notes receivable and investments in Flash Ventures	$	1,245	$	1,297

During the three months ended September 29, 2023 and September 30, 2022, the Company made net payments to Flash Ventures of $0.9 billion and $1.0 billion, respectively, for purchased flash-based memory wafers and net loans.

The Company makes, or will make, loans to Flash Ventures to fund equipment investments for new process technologies and additional wafer capacity. The Company aggregates its Flash Ventures’ notes receivable into one class of financing receivables due to the similar ownership interest and common structure in each Flash Venture entity. For all reporting periods presented, no loans were past due and no loan impairments were recorded. The Company’s notes receivable from each Flash Ventures entity, denominated in Japanese yen, are secured by equipment owned by that Flash Ventures entity.

As of September 29, 2023 and June 30, 2023, the Company had accounts payable balances due to Flash Ventures of $277 million and $292 million, respectively.


	September 29, 2023
	(in millions)
Notes receivable	$	755
Equity investments	490
Operating lease guarantees	1,590
Inventory and prepayments	1,047
Maximum estimable loss exposure	$	3,882

The Company is obligated to pay for variable costs incurred in producing its share of Flash Ventures’ flash-based memory wafer supply, based on its three-month forecast, which generally equals 50% of Flash Ventures’ output. In addition, the Company is obligated to pay for half of Flash Ventures’ fixed costs regardless of the output the Company chooses to purchase. The Company is not able to estimate its total wafer purchase commitment obligation beyond its rolling three-month purchase commitment because the price is determined by reference to the future cost of producing the semiconductor wafers. In addition, the Company is committed to fund 49.9% to 50.0% of each Flash Ventures entity’s capital investments to the extent that each Flash Ventures entity’s operating cash flow is insufficient to fund these investments.

Flash Ventures has historically operated near 100% of its manufacturing capacity. During 2023 and the three months ended September 29, 2023, as a result of flash market conditions, the Company temporarily reduced its utilization of its share of Flash Ventures’ manufacturing capacity to an abnormally low level to more closely align the Company’s flash-based wafer supply with projected demand. During the three months ended September 29, 2023, the Company incurred costs of $141 million associated with the reduction in utilization related to Flash Ventures, which was recorded as a charge to Cost of revenue. No such charges were incurred during the three months ended September 30, 2022.

The Company has facility agreements with Kioxia related to the construction and operation of Kioxia’s “K1” 300-millimeter wafer fabrication facility in Kitakami, Japan and a wafer fabrication facility in Yokkaichi, Japan, referred to as “Y7”. In connection with the start-up of these facilities, the Company has made prepayments toward future building depreciation. As of September 29, 2023, such prepayments aggregated $539 million and will be credited against future wafer charges.

Inventory Purchase Commitments with Flash Ventures. Purchase orders placed under Flash Ventures for up to three months are binding and cannot be canceled.

Research and Development Activities. The Company participates in common research and development (“R&D”) activities with Kioxia and is contractually committed to a minimum funding level. R&D commitments are immaterial to the Condensed Consolidated Financial Statements.

Off-Balance Sheet Liabilities

Flash Ventures sells to and leases back from a consortium of financial institutions a portion of its tools and has entered into equipment lease agreements of which the Company guarantees half or all of the outstanding obligations under each lease agreement. The lease agreements are subject to customary covenants and cancellation events related to Flash Ventures and each of the guarantors. The occurrence of a cancellation event could result in an acceleration of Flash Ventures’ obligations and a call on the Company’s guarantees.


	Lease Amounts
	(Japanese yen, in billions)		(U.S. dollar, in millions)
Total guarantee obligations	¥	237	$	1,590


Annual Installments	Payment of Principal Amortization		Purchase Option Exercise Price at Final Lease Terms		Guarantee Amount
	(in millions)
Remaining nine months of 2024	$	340	$	70	$	410
2025	273		80		353
2026	324		121		445
2027	128		102		230
2028	37		99		136
2029	1		15		16
Total guarantee obligations	$	1,103	$	487	$	1,590

The Company and Kioxia have agreed to mutually contribute to, and indemnify each other and Flash Ventures for, environmental remediation costs or liability resulting from Flash Ventures’ manufacturing operations in certain circumstances. The Company has not made any indemnification payments, nor recorded any indemnification receivables, under any such agreements. As of September 29, 2023, no amounts had been accrued in the Condensed Consolidated Financial Statements with respect to these indemnification agreements.

Unis Venture

The Company has a joint venture with Unisplendour Corporation Limited and Unissoft (Wuxi) Group Co. Ltd. (“Unis”), referred to as the “Unis Venture”, to market and sell the Company’s products in China and to develop data storage systems for the Chinese market in the future. The Unis Venture is 49% owned by the Company and 51% owned by Unis. The Company accounts for its investment in the Unis Venture under the equity method of accounting. Revenue on products distributed by the Unis Venture is recognized upon sell through to third-party customers. For the three months ended September 29, 2023 and September 30, 2022, the Company recognized approximately 6% and 3% of its consolidated revenue on products distributed by the Unis Venture, respectively. The outstanding accounts receivable due from the Unis Venture were 7% and 8% of Accounts receivable, net as of September 29, 2023 and June 30, 2023, respectively.

Debt (Tables)

3 Months Ended

Sep. 29, 2023

Debt Disclosure [Abstract]

Schedule of Debt

Debt consisted of the following:


	September 29, 2023		June 30, 2023
	(in millions)













1.50% convertible notes due 2024	$	1,100	$	1,100

Variable interest rate Delayed Draw Term Loan due 2024	600		—
4.75% senior unsecured notes due 2026	2,300		2,300
Variable interest rate Term Loan A-2 maturing 2027	2,700		2,700
2.85% senior notes due 2029	500		500
3.10% senior notes due 2032	500		500
Total debt	7,700		7,100
Issuance costs and debt discounts	(28)		(30)
Subtotal	7,672		7,070
Less current portion of long-term debt	(1,850)		(1,213)
Long-term debt	$	5,822	$	5,857

Shareholders' Equity and Convertible Preferred Stock - Stock Option Activity (Details) - $ / shares	3 Months Ended	12 Months Ended
	Sep. 29, 2023	Jun. 30, 2023
Number of Shares
Options outstanding, beginning balance (in shares)	300,000
Canceled or expired (in shares)	(300,000)
Options outstanding, ending balance (in shares)	0	300,000
Weighted Average Exercise Price Per Share
Options outstanding, beginning balance, exercise price (in dollars per share)	$ 44.95
Canceled or expired, exercise price (in dollars per share)	44.95
Options outstanding, ending balance, exercise price (in dollars per share)	$ 0	$ 44.95
Options outstanding, weighted average remaining contractual term		1 month 6 days

Leases and Other Commitments (Tables)

3 Months Ended

Sep. 29, 2023

Leases [Abstract]

Schedule of Supplemental Balance Sheet Disclosures

The following table summarizes supplemental balance sheet information related to operating leases as of September 29, 2023:


	Lease Amounts
	($ in millions)
Minimum lease payments by year:
Remaining nine months of 2024	$	49
2025	63
2026	65
2027	58
2028	51
Thereafter	329
Total future minimum lease payments	615
Less: Imputed interest	175
Present value of lease liabilities	440
Less: Current portion (included in Accrued expenses)	44
Long-term operating lease liabilities (included in Other liabilities )	$	396

Operating lease right-of-use assets (included in Other non-current assets)	$	419

Weighted average remaining lease term in years	10.5
Weighted average discount rate	6.0		%

Schedule of Lease, Cost

The following table summarizes supplemental disclosures of operating cost and cash flow information related to operating leases:


	Three Months Ended
	September 29, 2023		September 30, 2022
	(in millions)
Cost of operating leases	$	14	$	14
Cash paid for operating leases	15		14
Operating lease assets obtained in exchange for operating lease liabilities	168		4

Schedule of Long-term Purchase Agreements

As of September 29, 2023, the Company had the following minimum long-term commitments:


	Long-Term Commitments
	(in millions)
Year:
Remaining nine months of 2024	$	215
2025	267
2026	75
2027	52
2028	20
Thereafter	130
Total	$	759

Cover Page - shares	3 Months Ended
Cover Page - shares	Sep. 29, 2023	Oct. 25, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 29, 2023
Document Transition Report	false
Entity File Number	1-8703
Entity Registrant Name	WESTERN DIGITAL CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	33-0956711
Entity Address, Address Line One	5601 Great Oaks Parkway
Entity Address, City or Town	San Jose,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95119
City Area Code	408
Local Phone Number	717-6000
Title of 12(b) Security	Common Stock, $0.01 Par Value Per Share
Trading Symbol	WDC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		324,243,164
Entity Central Index Key	0000106040
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Current Fiscal Year End Date	--06-28

Legal Proceedings	3 Months Ended
Legal Proceedings	Sep. 29, 2023
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	Legal Proceedings Tax For disclosures regarding the status of statutory notices of deficiency issued by the IRS with regard to tax years 2008 through 2015, see Note 12, Income Tax Expense. Other Matters In the normal course of business, the Company is subject to legal proceedings, lawsuits and other claims. Although the ultimate aggregate amount of probable monetary liability or financial impact with respect to these other matters is subject to many uncertainties, management believes that any monetary liability or financial impact to the Company from these matters, individually and in the aggregate, would not be material to the Company’s financial condition, results of operations or cash flows. However, any monetary liability and financial impact to the Company from these matters could differ materially from the Company’s expectations.

Employee Termination, Asset Impairment, and Other (Tables)

3 Months Ended

Sep. 29, 2023

Postemployment Benefits [Abstract]

Schedule of Restructuring Reserve by Type of Cost

The Company recorded the following net charges related to these actions for the periods noted below:


	Three Months Ended
	September 29, 2023		September 30, 2022
	(in millions)




Employee termination benefits	$	19	$	24









Contract termination and other	29		—
Asset impairments	94		—

Gain on sale-leaseback of facility	(85)		—


Total employee termination, asset impairment, and other	$	57	$	24

The following table presents an analysis of the components of these activities against the reserve during the three months ended September 29, 2023:


	Employee Termination Benefits		Contract Termination and Other		Total
	(in millions)
Accrual balance at June 30, 2023	$	31	$	5	$	36
Charges	19		29		48
Cash payments	(45)		—		(45)

Accrual balance at September 29, 2023	$	5	$	34	$	39

Net Income (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net income (loss)	$ (685)	$ 27
Less: cumulative dividends on Preferred Stock	15	0
Net income (loss) attributable to common shareholders	$ (700)	$ 27
Weighted average shares outstanding:
Basic (in shares)	323	316
Employee stock options, RSUs, PSUs, and ESPP (in shares)	0	3
Diluted (in shares)	323	319
Net income (loss) per common share
Basic (in dollars per share)	$ (2.17)	$ 0.09
Diluted (in dollars per share)	$ (2.17)	$ 0.08
Anti-dilutive potential common shares excluded (in shares)	15	8

Leases and Other Commitments - Sale Leaseback (Details) $ in Millions	1 Months Ended
	Sep. 29, 2023 USD ($) option
Lessee, Lease, Description [Line Items]
Sale leaseback net cash proceeds	$ 191
Sale leaseback gain	85
Sale leaseback annual lease rate	$ 16
Sale leaseback increase percentage	0.03
Through January 1, 2039
Lessee, Lease, Description [Line Items]
Sale leaseback number of renewal options \| option	3
Sale leaseback renewal options term	5 years
Through December 2057
Lessee, Lease, Description [Line Items]
Sale leaseback number of renewal options \| option	1
Sale leaseback renewal options term	4 years

Leases and Other Commitments

3 Months Ended

Sep. 29, 2023

Leases [Abstract]

Leases and Other Commitments

Leases

The Company leases certain domestic and international facilities and data center space under long-term, non-cancelable operating leases that expire at various dates through 2039. These leases include no material variable or contingent lease payments. Operating lease assets and liabilities are recognized based on the present value of the remaining lease payments discounted using the Company’s incremental borrowing rate. Operating lease assets also include prepaid lease payments minus any lease incentives. Extension or termination options present in the Company’s lease agreements are included in determining the right-of-use asset and lease liability when it is reasonably certain the Company will exercise those options. Lease expense is recognized on a straight-line basis over the lease term.

The following table summarizes supplemental balance sheet information related to operating leases as of September 29, 2023:


	Lease Amounts
	($ in millions)
Minimum lease payments by year:
Remaining nine months of 2024	$	49
2025	63
2026	65
2027	58
2028	51
Thereafter	329
Total future minimum lease payments	615
Less: Imputed interest	175
Present value of lease liabilities	440
Less: Current portion (included in Accrued expenses)	44
Long-term operating lease liabilities (included in Other liabilities )	$	396

Operating lease right-of-use assets (included in Other non-current assets)	$	419

Weighted average remaining lease term in years	10.5
Weighted average discount rate	6.0		%

The following table summarizes supplemental disclosures of operating cost and cash flow information related to operating leases:


	Three Months Ended
	September 29, 2023		September 30, 2022
	(in millions)
Cost of operating leases	$	14	$	14
Cash paid for operating leases	15		14
Operating lease assets obtained in exchange for operating lease liabilities	168		4

Sale-Leaseback

In September 2023, the Company completed a sale and leaseback of its facility in Milpitas, California. The Company received net proceeds of $191 million in cash and recorded a gain of $85 million on the sale. In connection with the sale, the Company agreed to lease back the facility at an annual lease rate of $16 million for the first year, increasing by 3% per year thereafter through January 1, 2039. The lease includes three 5-year renewal options and one 4-year renewal option for the ability to extend through December 2057. The supplemental balance sheet information and supplemental disclosures of operating cost and cash flow information related to the lease are included in the tables above.

Purchase Agreements and Other Commitments

In the normal course of business, the Company enters into purchase orders with suppliers for the purchase of components used to manufacture its products. These purchase orders generally cover forecasted component supplies needed for production during the next quarter, are recorded as a liability upon receipt of the components, and generally may be changed or canceled at any time prior to shipment of the components. The Company also enters into long-term agreements with suppliers that contain fixed future commitments, which are contingent on certain conditions such as performance, quality and technology of the vendor’s components. As of September 29, 2023, the Company had the following minimum long-term commitments:


	Long-Term Commitments
	(in millions)
Year:
Remaining nine months of 2024	$	215
2025	267
2026	75
2027	52
2028	20
Thereafter	130
Total	$	759

Related Parties and Related Commitments and Contingencies - Maximum Loss Exposure (Details) - Sep. 29, 2023 - Related Party $ in Millions, ¥ in Billions	USD ($)	JPY (¥)
Guarantor Obligations [Line Items]
VIE, reporting entity involvement, maximum loss exposure, amount	$ 3,882
Notes receivable
Guarantor Obligations [Line Items]
VIE, reporting entity involvement, maximum loss exposure, amount	755
Equity investments
Guarantor Obligations [Line Items]
VIE, reporting entity involvement, maximum loss exposure, amount	490
Operating lease guarantees
Guarantor Obligations [Line Items]
Operating lease guarantees	1,590	¥ 237
Inventory and prepayments
Guarantor Obligations [Line Items]
Inventory and prepayments	$ 1,047

Shareholders' Equity and Convertible Preferred Stock - Restricted Stock Units And Performance Share Units (Details) - Restricted Stock Units And Performance Share Units $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Sep. 29, 2023 USD ($) $ / shares shares
Number of Shares
Outstanding, beginning balance (in shares) \| shares	13.8
Granted (in shares) \| shares	5.5
Vested (in shares) \| shares	(3.3)
Forfeited (in shares) \| shares	(0.9)
Outstanding, ending balance (in shares) \| shares	15.1
Weighted Average Grant Date Fair Value
Outstanding, beginning balance, grant date fair value (in dollars per share) \| $ / shares	$ 46.56
Granted, grant date fair value (in dollars per share) \| $ / shares	37.87
Vested, grant date fair value (in dollars per share) \| $ / shares	47.00
Forfeited, grant date fair value (in dollars per share) \| $ / shares	46.86
Outstanding, ending balance, grant date fair value (in dollars per share) \| $ / shares	$ 43.85
Aggregate value of restricted stock awards vested \| $	$ 147

Income Tax Expense

3 Months Ended

Sep. 29, 2023

Income Tax Disclosure [Abstract]

Income Tax Expense

The Tax Cuts and Jobs Act (the “2017 Act”), enacted on December 22, 2017, includes a broad range of tax reform proposals affecting businesses. The Company completed its accounting for the tax effects of the enactment of the 2017 Act during the second quarter of 2019. However, the U.S. Treasury and the Internal Revenue Service (“IRS”) have issued tax guidance on certain provisions of the 2017 Act since the enactment date, and the Company anticipates the issuance of additional regulatory and interpretive guidance. The Company applied a reasonable interpretation of the 2017 Act along with the then-available guidance in finalizing its accounting for the tax effects of the 2017 Act. Any additional regulatory or interpretive guidance would constitute new information, which may require further refinements to the Company’s estimates in future periods.

On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022, which contained significant law changes related to tax, climate, energy, and health care. The tax measures include, among other things, a corporate alternative minimum tax (“CAMT”) of 15% on corporations with three-year average annual adjusted financial statement income (“AFSI”) exceeding $1.0 billion. The corporate alternative minimum tax is effective for the Company beginning with fiscal year 2024. The Company is not subject to the CAMT of 15% for fiscal year 2024 as its average annual AFSI did not exceed $1.0 billion for the preceding three-year period.

The following table presents the Company’s Income tax expense and the effective tax rate:


	Three Months Ended
	September 29, 2023			September 30, 2022
	($ in millions)
Income (loss) before taxes	$	(682)		$	84
Income tax expense	3			57
Effective tax rate	—		%	68		%

Beginning in 2023, the 2017 Act requires the Company to capitalize and amortize R&D expenses rather than expensing them in the year incurred. The tax effects related to the capitalization of R&D expenses are included in the effective tax rate for the three months ended September 29, 2023, but did not have a material impact on the Company’s effective tax rate.

The primary drivers of the difference between the effective tax rate for the three months ended September 29, 2023 and the U.S. Federal statutory rate of 21% are the relative mix of earnings and losses by jurisdiction, the deduction for foreign-derived intangible income, credits, and tax holidays in Malaysia, the Philippines and Thailand that will expire at various dates during years 2024 through 2031. In addition, the effective tax rate for the three months ended September 29, 2023 includes the discrete effect of a net decrease of $30 million to the liability for unrecognized tax benefits, which includes interest and offsetting tax benefits, as a result of adjustments to align with IRS calculations.

The primary drivers of the difference between the effective tax rate for three months ended September 30, 2022 and the U.S. Federal statutory rate of 21% are the relative mix of earnings and losses by jurisdiction, the deduction for foreign-derived intangible income, credits, and tax holidays in Malaysia, the Philippines and Thailand.

Uncertain Tax Positions

With the exception of certain unrecognized tax benefits that are directly associated with the tax position taken, unrecognized tax benefits are presented gross in the Condensed Consolidated Balance Sheets.

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits excluding accrued interest and penalties for the three months ended September 29, 2023 (in millions):


Accrual balance at June 30, 2023	$	1,021
Gross increases related to current year tax positions	2
Gross increases related to prior year tax positions	17
Gross decreases related to prior year tax positions	(3)
Settlements	(363)
Lapse of statute of limitations	(2)
Accrual balance at September 29, 2023	$	672

In addition to the amounts noted above, interest and penalties related to unrecognized tax benefits are recognized in liabilities recorded for uncertain tax positions and are recorded in the provision for income taxes. Accrued interest and penalties included in the Company’s liability related to unrecognized tax benefits as of September 29, 2023 were $157 million. Of the aggregate unrecognized tax benefits, including interest and penalties, as of September 29, 2023, approximately $663 million could result in potential cash payments and the Company believes it is reasonably likely that payments of approximately $183 million may be made within the next twelve months and has classified that portion of these unrecognized tax benefits, including interest, in Income taxes payable on the Consolidated Balance Sheets as of September 29, 2023. The remaining payables related to unrecognized tax benefits are included in Other liabilities on the Condensed Consolidated Balance Sheets as of September 29, 2023.

The Company reached a final agreement with the IRS regarding notices of deficiency with respect to years 2008 through 2012 and tentatively reached a basis for resolving the notices of proposed adjustments with respect to years 2013 through 2015. As of September 29, 2023, the Company has recognized a liability for tax and interest of $183 million related to all years from 2008 through 2015. The change in this liability from the prior quarter liability of $753 million was the result of a payment of $363 million for tax and $160 million for interest with respect to years 2008 through 2012 as well as adjustments to align with IRS calculations. The Company expects to pay any remaining balance with respect to this matter within the next twelve months.

In connection with settlements for the years 2008 through 2015, the Company expects to realize reductions to its mandatory deemed repatriation tax obligations and tax savings from interest deductions in future years aggregating to approximately $168 million. Of this amount, $34 million of the interest savings from the interest paid with respect to years 2008 through 2012 is classified as a deferred tax asset due to interest expense limitation rules.

The Company believes that adequate provision has been made for any adjustments that may result from any other tax examinations. However, the outcome of such tax examinations cannot be predicted with certainty. If any issues addressed in the Company’s tax examinations are resolved in a manner not consistent with management’s expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs. As of September 29, 2023, with the exception of the IRS matter discussed above, it was not possible to estimate the amount of change, if any, in the unrecognized tax benefits that is reasonably possible within the next twelve months. Any significant change in the amount of the Company’s liability for unrecognized tax benefits would most likely result from additional information or settlements relating to the examination of the Company’s tax returns.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
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-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 21
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-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
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-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Pension and Other Post-Retirement Benefit Plans (Tables)

3 Months Ended

Sep. 29, 2023

Retirement Benefits [Abstract]

Schedule of Obligations and Funded Status

The following table presents the unfunded status of the benefit obligations for the Pension Plans:


	September 29, 2023		June 30, 2023
	(in millions)











Benefit obligation at end of period	$	265	$	273









Fair value of plan assets at end of period	180		185
Unfunded status	$	85	$	88

Schedule of Unfunded Amounts Recognized on Consolidated Balance Sheets

The following table presents the unfunded amounts related to the Pension Plans as recognized on the Company’s Condensed Consolidated Balance Sheets:


	September 29, 2023		June 30, 2023
	(in millions)
Current liabilities	$	1	$	1
Non-current liabilities	84		87
Net amount recognized	$	85	$	88

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Sep. 29, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income (loss)	$ (685)	$ 27

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 29, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Pension and Other Post-Retirement Benefit Plans

3 Months Ended

Sep. 29, 2023

Retirement Benefits [Abstract]

Pension and Other Post-Retirement Benefit Plans

The Company has pension and other post-retirement benefit plans in various countries. The Company’s principal pension plans are in Japan, Thailand and the Philippines. All pension and other post-retirement benefit plans outside of the Company’s Japan, Thailand and the Philippines defined benefit pension plans (the “Pension Plans”) are immaterial to the Condensed Consolidated Financial Statements. The expected long-term rate of return on the Pension Plans assets is 2.5%.

Obligations and Funded Status

The following table presents the unfunded status of the benefit obligations for the Pension Plans:


	September 29, 2023		June 30, 2023
	(in millions)











Benefit obligation at end of period	$	265	$	273









Fair value of plan assets at end of period	180		185
Unfunded status	$	85	$	88

The following table presents the unfunded amounts related to the Pension Plans as recognized on the Company’s Condensed Consolidated Balance Sheets:


	September 29, 2023		June 30, 2023
	(in millions)
Current liabilities	$	1	$	1
Non-current liabilities	84		87
Net amount recognized	$	85	$	88

Net periodic benefit costs were not material for the three months ended September 29, 2023.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Organization and Basis of Presentation	3 Months Ended
Organization and Basis of Presentation	Sep. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Western Digital Corporation (“Western Digital” or the “Company”) is a leading developer, manufacturer, and provider of data storage devices and solutions based on both NAND flash and hard disk drive technologies. The Company’s broad portfolio of technology and products address the following key end markets: Cloud, Client and Consumer. The Company also generates immaterial license and royalty revenue from its extensive intellectual property portfolio, which is included in each of these three end market categories. The accounting policies followed by the Company are set forth in Part II, Item 8, Note 1, Organization and Basis of Presentation, of the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10‑K for the year ended June 30, 2023. In the opinion of management, all adjustments necessary to fairly state the Condensed Consolidated Financial Statements have been made. All such adjustments are of a normal, recurring nature. Certain information and footnote disclosures normally included in the Consolidated Financial Statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and the notes thereto included in the Company’s Annual Report on Form 10‑K for the year ended June 30, 2023. The results of operations for interim periods are not necessarily indicative of results to be expected for the full year. Fiscal Year The Company’s fiscal year ends on the Friday nearest to June 30 and typically consists of 52 weeks. Approximately every five to six years, the Company reports a 53-week fiscal year to align the fiscal year with the foregoing policy. Fiscal year 2024, which will end on June 28, 2024, and fiscal year 2023, which ended June 30, 2023, are each comprised of 52 weeks, with all quarters presented consisting of 13 weeks. Segment Reporting The Company manufactures, markets, and sells data storage devices and solutions in the United States (“U.S.”) and in foreign countries through its sales personnel, dealers, distributors, retailers, and subsidiaries. The Company manages and reports under two reportable segments: flash-based products (“Flash”) and hard disk drives (“HDD”). The Chief Executive Officer, who is the Company’s Chief Operating Decision Maker (“CODM”), evaluates the performance of the Company and makes decisions regarding the allocation of resources based on each operating segment’s net revenue and gross margin. Because of the integrated nature of the Company’s production and distribution activities, separate segment asset measures are either not available or not used as a basis for the CODM to evaluate the performance of or to allocate resources to the segments. Use of Estimates Company management has made estimates and assumptions relating to the reporting of certain assets and liabilities in conformity with U.S. GAAP. These estimates and assumptions have been applied using methodologies that are consistent throughout the periods presented with consideration given to the potential impacts of current macroeconomic conditions. However, actual results could differ materially from these estimates.

Fair Value Measurements and Investments - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Assets:
Total assets at fair value	$ 399	$ 406
Liabilities:
Total liabilities at fair value	226	192
Foreign exchange contracts
Liabilities:
Derivative liability	226	192
Cash equivalents - Money market funds
Assets:
Cash equivalents - Money market funds	371	371
Foreign exchange contracts
Assets:
Foreign exchange contracts	28	35
Level 1
Assets:
Total assets at fair value	371	371
Liabilities:
Total liabilities at fair value	0	0
Level 1 \| Foreign exchange contracts
Liabilities:
Derivative liability	0	0
Level 1 \| Cash equivalents - Money market funds
Assets:
Cash equivalents - Money market funds	371	371
Level 1 \| Foreign exchange contracts
Assets:
Foreign exchange contracts	0	0
Level 2
Assets:
Total assets at fair value	28	35
Liabilities:
Total liabilities at fair value	226	192
Level 2 \| Foreign exchange contracts
Liabilities:
Derivative liability	226	192
Level 2 \| Cash equivalents - Money market funds
Assets:
Cash equivalents - Money market funds	0	0
Level 2 \| Foreign exchange contracts
Assets:
Foreign exchange contracts	28	35
Level 3
Assets:
Total assets at fair value	0	0
Liabilities:
Total liabilities at fair value	0	0
Level 3 \| Foreign exchange contracts
Liabilities:
Derivative liability	0	0
Level 3 \| Cash equivalents - Money market funds
Assets:
Cash equivalents - Money market funds	0	0
Level 3 \| Foreign exchange contracts
Assets:
Foreign exchange contracts	$ 0	$ 0

Business Segments, Geographic Information, and Concentrations of Risk - Goodwill Rollforward (Details) $ in Millions	3 Months Ended
	Sep. 29, 2023 USD ($)
Goodwill [Roll Forward]
Balance at June 30, 2023	$ 10,037
Foreign currency translation adjustment	(2)
Balance at September 29, 2023	10,035
Flash
Goodwill [Roll Forward]
Balance at June 30, 2023	5,716
Foreign currency translation adjustment	(1)
Balance at September 29, 2023	5,715
HDD
Goodwill [Roll Forward]
Balance at June 30, 2023	4,321
Foreign currency translation adjustment	(1)
Balance at September 29, 2023	$ 4,320

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Business Segments, Geographic Information, and Concentrations of Risk (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenue, net	$ 2,750	$ 3,736
Gross profit	99	981
Stock-based compensation expense	77	86
Consolidated gross profit	$ 99	$ 981
Gross margin, percentage	3.60%	26.30%
Operating Segments
Segment Reporting Information [Line Items]
Revenue, net	$ 2,750	$ 3,736
Gross profit	112	996
Consolidated gross profit	112	996
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Gross profit	(13)	(15)
Stock-based compensation expense	(13)	(14)
Amortization of acquired intangible assets	0	(1)
Consolidated gross profit	$ (13)	$ (15)
Flash
Segment Reporting Information [Line Items]
Gross margin, percentage	(10.30%)	24.50%
Flash \| Operating Segments
Segment Reporting Information [Line Items]
Revenue, net	$ 1,556	$ 1,722
Gross profit	(161)	422
Consolidated gross profit	$ (161)	$ 422
HDD
Segment Reporting Information [Line Items]
Gross margin, percentage	22.90%	28.50%
HDD \| Operating Segments
Segment Reporting Information [Line Items]
Revenue, net	$ 1,194	$ 2,014
Gross profit	273	574
Consolidated gross profit	$ 273	$ 574

Supplemental Financial Statement Data - Total Warranty Accrual (Details) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023	Sep. 30, 2022	Jul. 01, 2022
Warranty accrual:
Current portion (included in Accrued expenses)	$ 61	$ 97
Long-term portion (included in Other liabilities)	157	147
Total warranty accrual	$ 218	$ 244	$ 340	$ 345

Supplemental Financial Statement Data - Other Liabilities (Details) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Other liabilities:
Non-current net tax payable	$ 199	$ 464
Non-current portion of unrecognized tax benefits	497	408
Other non-current liabilities	702	543
Total other liabilities	$ 1,398	$ 1,415

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 2,032	$ 2,023
Accounts receivable, net	1,451	1,598
Inventories	3,497	3,698
Other current assets	597	567
Total current assets	7,577	7,886
Non-current assets:
Property, plant and equipment, net	3,371	3,620
Notes receivable and investments in Flash Ventures	1,245	1,297
Goodwill	10,035	10,037
Other intangible assets, net	80	80
Other non-current assets	1,693	1,509
Total assets	24,001	24,429
Current liabilities:
Accrued expenses	1,347	1,288
Income taxes payable	675	999
Accrued compensation	349	349
Current portion of long-term debt	1,850	1,213
Total current liabilities	5,792	5,434
Non-current liabilities:
Long-term debt	5,822	5,857
Other liabilities	1,398	1,415
Total liabilities	13,012	12,706
Commitments and contingencies (Notes 9, 10, 12 and 16)
Convertible preferred stock, $0.01 par value; authorized — 5 shares; issued and outstanding — 1 shares; aggregate liquidation preference of $939 and $924, respectively	876	876
Shareholders’ equity:
Common stock, $0.01 par value; authorized — 450 shares; issued and outstanding — 324 shares and 322 shares, respectively	3	3
Additional paid-in capital	3,970	3,936
Accumulated other comprehensive loss	(599)	(516)
Retained earnings	6,739	7,424
Total shareholders’ equity	10,113	10,847
Total liabilities, convertible preferred stock and shareholders’ equity	24,001	24,429
Nonrelated Party
Current liabilities:
Accounts payable	1,294	1,293
Related Party
Current liabilities:
Accounts payable	$ 277	$ 292

Business Segments, Geographic Information, and Concentrations of Risk - Additional Information (Details)	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Revenue from Contract with Customer \| Customer Concentration Risk \| Top Ten Customers
Concentration Risk [Line Items]
Concentration risk, percentage	44.00%	52.00%

Employee Termination, Asset Impairment, and Other

3 Months Ended

Sep. 29, 2023

Postemployment Benefits [Abstract]

Employee Termination, Asset Impairment, and Other

Business Realignment

The Company periodically incurs charges as part of the integration process of recent acquisitions and to realign its operations with anticipated market demand, primarily consisting of organization rationalization designed to streamline its business, reduce its cost structure and focus its resources. In this regard, in the three months ended September 29, 2023, the Company reassessed existing capacity development plans and made a decision to cancel certain projects to expand capacity in its Penang, Malaysia facility, resulting in the impairment of existing construction in progress and the recognition of a liability for certain contract termination costs. The Company has also taken actions to reduce the amount of capital invested in facilities, including the sale-leaseback of its facility in Milpitas, California in September 2023. The Company recorded the following net charges related to these actions for the periods noted below:


	Three Months Ended
	September 29, 2023		September 30, 2022
	(in millions)




Employee termination benefits	$	19	$	24









Contract termination and other	29		—
Asset impairments	94		—

Gain on sale-leaseback of facility	(85)		—


Total employee termination, asset impairment, and other	$	57	$	24

The following table presents an analysis of the components of these activities against the reserve during the three months ended September 29, 2023:


	Employee Termination Benefits		Contract Termination and Other		Total
	(in millions)
Accrual balance at June 30, 2023	$	31	$	5	$	36
Charges	19		29		48
Cash payments	(45)		—		(45)

Accrual balance at September 29, 2023	$	5	$	34	$	39

Related Parties and Related Commitments and Contingencies - Joint Venture Lease Amounts (Details) - Equity Method Investee $ in Millions	Sep. 29, 2023 USD ($)
Guarantor Obligations [Line Items]
Remaining nine months of 2024	$ 410
Remaining nine months of 2024	353
2025	445
2026	230
2027	136
2028	16
Total guarantee obligations	1,590
Payment of Principal Amortization
Guarantor Obligations [Line Items]
Remaining nine months of 2024	340
Remaining nine months of 2024	273
2025	324
2026	128
2027	37
2028	1
Total guarantee obligations	1,103
Purchase Option Exercise Price at Final Lease Terms
Guarantor Obligations [Line Items]
Remaining nine months of 2024	70
Remaining nine months of 2024	80
2025	121
2026	102
2027	99
2028	15
Total guarantee obligations	$ 487

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (685)	$ 27
Other comprehensive loss, before tax:
Foreign currency translation adjustment	(38)	(80)
Net unrealized loss on derivative contracts and available-for-sale securities	(58)	(76)
Total other comprehensive loss, before tax	(96)	(156)
Income tax benefit related to items of other comprehensive loss, before tax	13	16
Other comprehensive loss, net of tax	(83)	(140)
Total comprehensive loss	$ (768)	$ (113)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Net Income (Loss) Per Common Share

3 Months Ended

Sep. 29, 2023

Earnings Per Share [Abstract]

Net Income (Loss) Per Common Share

The following table presents the computation of basic and diluted income (loss) per common share:


	Three Months Ended
	September 29, 2023		September 30, 2022
	(in millions, except per share data)
Net income (loss)	$	(685)	$	27
Less: cumulative dividends on Preferred Stock	15		—

Net income (loss) attributable to common shareholders	$	(700)	$	27


Weighted average shares outstanding:
Basic	323		316
Employee stock options, RSUs, PSUs, and ESPP	—		3
Diluted	323		319
Net income (loss) per common share
Basic	$	(2.17)	$	0.09
Diluted	$	(2.17)	$	0.08
Anti-dilutive potential common shares excluded	15		8

Basic net income (loss) per share attributable to common shareholders is computed using (i) net income (loss) less (ii) dividends paid to holders of Preferred Shares less (iii) net income (loss) attributable to participating securities divided by (iv) weighted average basic shares outstanding. Diluted net income or loss per share attributable to common shareholders is computed as (i) basic net income (loss) attributable to common shareholders plus (ii) diluted adjustments to income allocable to participating securities divided by (iii) weighted average diluted shares outstanding. The "if-converted" method is used to determine the dilutive impact for the 1.50% convertible notes and the Preferred Shares. The treasury stock method is used to determine the dilutive impact of unvested restricted stock.

Potentially dilutive common shares include dilutive outstanding employee stock options, RSUs and PSUs, rights to purchase shares of common stock under the Company’s ESPP, shares issuable in connection with the 1.50% convertible notes due 2024, and the Preferred Shares. For the three months ended September 29, 2023, the Company recorded a net loss and all shares subject to outstanding equity awards were excluded from the calculation of diluted shares for those periods because their impact would have been anti-dilutive. For the three months ended September 30, 2022, the Company excluded common shares subject to certain outstanding equity awards from the calculation of diluted shares because their impact would have been anti-dilutive based on the Company’s average stock price during the period.

Related Parties and Related Commitments and Contingencies - JV Lease Guarantees (Details) - Sep. 29, 2023 $ in Millions, ¥ in Billions	USD ($)	JPY (¥)
Operating lease guarantees \| Related Party
Loss Contingencies [Line Items]
Total guarantee obligations	$ 1,590	¥ 237

Supplemental Financial Statement Data - Accumulated Other Comprehensive Loss Roll Forward (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 10,847	$ 12,221
Other comprehensive loss before reclassifications	(139)
Amounts reclassified from accumulated other comprehensive loss	43
Income tax benefit related to items of other comprehensive loss	13	16
Other comprehensive loss, net of tax	(83)	(140)
Ending balance	10,113	12,107
Actuarial Pension Losses
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(2)
Other comprehensive loss before reclassifications	0
Amounts reclassified from accumulated other comprehensive loss	0
Income tax benefit related to items of other comprehensive loss	0
Other comprehensive loss, net of tax	0
Ending balance	(2)
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(357)
Other comprehensive loss before reclassifications	(38)
Amounts reclassified from accumulated other comprehensive loss	0
Income tax benefit related to items of other comprehensive loss	1
Other comprehensive loss, net of tax	(37)
Ending balance	(394)
Unrealized Losses on Derivative Contracts
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(157)
Other comprehensive loss before reclassifications	(101)
Amounts reclassified from accumulated other comprehensive loss	43
Income tax benefit related to items of other comprehensive loss	12
Other comprehensive loss, net of tax	(46)
Ending balance	(203)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(516)	(554)
Ending balance	$ (599)	$ (694)

Supplier Finance Program	3 Months Ended
Supplier Finance Program	Sep. 29, 2023
Payables and Accruals [Abstract]
Supplier Finance Program	Supplier Finance Program The Company maintains a voluntary supplier finance program that provides participating suppliers with enhanced receivable options. The program allows participating suppliers of the Company, at their sole discretion and cost, to sell their receivables due from the Company to a third-party financial institution and receive early payment at terms negotiated between the supplier and the third-party financial institution. The Company’s vendor payment terms and amounts are not impacted by a supplier’s decision to participate in this program. The Company’s current payment terms with its suppliers under these programs generally range from 60 to 90 days and payment terms that the Company negotiates with its suppliers are not impacted by whether a supplier participates in the program. The Company does not provide any guarantees to any third parties and no assets are pledged in connection with the arrangements. The Company’s outstanding payment obligations to vendors eligible to participate under its supplier finance program were $39 million and $38 million as of September 29, 2023 and June 30, 2023, respectively, and are included within Accounts payable on the Company’s Condensed Consolidated Balance Sheets.

Supplemental Financial Statement Data (Tables)

3 Months Ended

Sep. 29, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Inventories

Inventories


	September 29, 2023		June 30, 2023
	(in millions)
Inventories:
Raw materials and component parts	$	1,975	$	2,096
Work-in-process	925		979
Finished goods	597		623
Total inventories	$	3,497	$	3,698

Schedule of Property, Plant and Equipment, Net

Property, plant and equipment, net


	September 29, 2023		June 30, 2023
	(in millions)
Property, plant and equipment:
Land	$	235	$	269
Buildings and improvements	1,842		1,955
Machinery and equipment	8,691		8,704
Computer equipment and software	473		470
Furniture and fixtures	55		54
Construction-in-process	729		798
Property, plant and equipment, gross	12,025		12,250
Accumulated depreciation	(8,654)		(8,630)
Property, plant and equipment, net	$	3,371	$	3,620

Schedule of Product Warranty Liability

Product warranty liability

Changes in the warranty accrual were as follows:


	Three Months Ended
	September 29, 2023		September 30, 2022
	(in millions)
Warranty accrual, beginning of period	$	244	$	345

Charges to operations	22		32
Utilization	(43)		(34)
Changes in estimate related to pre-existing warranties	(5)		(3)
Warranty accrual, end of period	$	218	$	340

The current portion of the warranty accrual is classified in Accrued expenses and the long-term portion is classified in Other liabilities as noted below:


	September 29, 2023		June 30, 2023
	(in millions)
Warranty accrual:
Current portion (included in Accrued expenses)	$	61	$	97
Long-term portion (included in Other liabilities)	157		147
Total warranty accrual	$	218	$	244

Schedule of Other Liabilities

Other liabilities


	September 29, 2023		June 30, 2023
	(in millions)
Other liabilities:
Non-current net tax payable	$	199	$	464
Non-current portion of unrecognized tax benefits	497		408
Other non-current liabilities	702		543
Total other liabilities	$	1,398	$	1,415

Schedule of Accumulated Other Comprehensive Loss

The following table illustrates the changes in the balances of each component of AOCL:


	Actuarial Pension Losses		Foreign Currency Translation Adjustment		Unrealized Losses on Derivative Contracts		Total Accumulated Comprehensive Loss
	(in millions)















Balance at June 30, 2023	$	(2)	$	(357)	$	(157)	$	(516)
Other comprehensive loss before reclassifications	—		(38)		(101)		(139)
Amounts reclassified from accumulated other comprehensive loss	—		—		43		43
Income tax benefit related to items of other comprehensive loss	—		1		12		13
Net current-period other comprehensive loss	—		(37)		(46)		(83)
Balance at September 29, 2023	$	(2)	$	(394)	$	(203)	$	(599)

Income Tax Expense - Tax Expense and Effective Tax Rate (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income (loss) before taxes	$ (682)	$ 84
Income tax expense	$ 3	$ 57
Effective tax rate	0.00%	68.00%

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479557/942-235-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 25
-Paragraph 1
-SubTopic 20
-Topic 940
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481913/940-20-25-1

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Related Parties and Related Commitments and Contingencies - Additional Information (Details) $ in Millions	3 Months Ended		12 Months Ended
	Sep. 29, 2023 USD ($) entity	Sep. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)
Guarantor Obligations [Line Items]
Number of legal entities \| entity	3
Investment funding commitments, percentage	50.00%
Percent of total manufacturing capacity in operation	100.00%
Costs incurred associated with reduction in utilization	$ 141	$ 0
Accounts Receivable Benchmark \| Product Concentration Risk \| Unis Venture
Guarantor Obligations [Line Items]
Concentration risk, percentage	7.00%		8.00%
Unis Venture
Guarantor Obligations [Line Items]
Equity method investment, ownership percentage	49.00%
Unis Venture \| Revenue from Contract with Customer \| Product Concentration Risk
Guarantor Obligations [Line Items]
Concentration risk, percentage	6.00%	3.00%
Unis Venture \| Unissoft (Wuxi) Group Co Ltd.
Guarantor Obligations [Line Items]
Partner's ownership in venture business	51.00%
Kioxia Corporation \| Prepayments Of Future Depreciation
Guarantor Obligations [Line Items]
Other commitment	$ 539
Western Digital Corp \| Minimum
Guarantor Obligations [Line Items]
Investment funding commitments, percentage	49.90%
Western Digital Corp \| Maximum
Guarantor Obligations [Line Items]
Investment funding commitments, percentage	50.00%
Equity Method Investee
Guarantor Obligations [Line Items]
Payments for equity method investments	$ 900	$ 1,000
Accounts payable	$ 277		$ 292

Pension and Other Post-Retirement Benefit Plans - Obligations and Funded Status (Details) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Retirement Benefits [Abstract]
Benefit obligation at end of period	$ 265	$ 273
Fair value of plan assets at end of period	180	185
Unfunded status	$ 85	$ 88

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Shareholders' Equity and Convertible Preferred Stock

3 Months Ended

Sep. 29, 2023

Share-Based Payment Arrangement [Abstract]

Shareholders' Equity and Convertible Preferred Stock

Shareholders’ Equity and Convertible Preferred Stock

Stock-based Compensation Expense

The following tables present the Company’s stock-based compensation for equity-settled awards by type (i.e. restricted stock units (“RSUs”), restricted stock unit awards with performance conditions or market conditions (“PSUs”), and rights to purchase shares of common stock under the Company’s Employee Stock Purchase Plan (“ESPP”)) and financial statement line as well as the related tax benefit included in the Company’s Condensed Consolidated Statements of Operations:


	Three Months Ended
	September 29, 2023		September 30, 2022
	(in millions)

RSUs and PSUs	$	65	$	75
ESPP	12		11
Total	$	77	$	86


	Three Months Ended
	September 29, 2023		September 30, 2022
	(in millions)
Cost of revenue	$	13	$	14
Research and development	34		39
Selling, general and administrative	30		33

Subtotal	77		86
Tax benefit	(10)		(13)
Total	$	67	$	73

Any shortfalls or excess windfall tax benefits and tax deficiencies for shortfalls related to the vesting and exercise of stock-based awards, which are recognized as a component of the Company’s Income tax expense, were not material for the periods presented.

Compensation cost related to unvested RSUs, PSUs, and rights to purchase shares of common stock under the ESPP will generally be amortized on a straight-line basis over the remaining average service period. The following table presents the unamortized compensation cost and weighted average service period of all unvested outstanding awards as of September 29, 2023:


	Unamortized Compensation Costs		Weighted Average Service Period
	(in millions)		(years)

RSUs and PSUs (1)	$	588	2.8
ESPP	55		1.2
Total unamortized compensation cost	$	643

(1) Weighted average service period assumes the performance conditions are met for the PSUs.

Plan Activities

Stock Options

The following table summarizes stock option activity under the Company’s incentive plans. As of September 29, 2023, there were no remaining outstanding options.


	Number of Shares	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life
	(in millions)			(in years)






























Options outstanding at June 30, 2023	0.3	$	44.95	0.10



Canceled or expired	(0.3)	44.95
Options outstanding at September 29, 2023	—	$	—

RSUs and PSUs

The following table summarizes RSU and PSU activity under the Company’s incentive plans:


	Number of Shares	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value at Vest Date
	(in millions)			(in millions)






























RSUs and PSUs outstanding at June 30, 2023	13.8	$	46.56
Granted	5.5	37.87

Vested	(3.3)	47.00		$	147
Forfeited	(0.9)	46.86
RSUs and PSUs outstanding at September 29, 2023	15.1	$	43.85

RSUs and PSUs are generally settled in an equal number of shares of the Company’s common stock at the time of vesting of the units.

Convertible Preferred Stock

On January 31, 2023, the Board of Directors of the Company authorized the designation of 900,000 shares of Series A Convertible Perpetual Preferred Stock, par value $0.01 per share (the “Preferred Shares”), from the Company’s existing five million authorized but unissued shares of preferred stock and issued the Preferred Shares through a private placement for an aggregate purchase price of $900 million, less issuance costs of $24 million. The Preferred Shares accrue a cumulative preferred dividend at an annual rate of 6.25% per annum (increasing to 7.25% per annum on January 31, 2030 and to 8.25% per annum on January 31, 2033) compounded on a quarterly basis. The Preferred Shares also participate in any dividends declared for common shareholders on an as-converted equivalent basis. No dividends have been declared or paid since the issuance of the Preferred Shares. As of September 29, 2023 and June 30, 2023, unpaid and cumulative dividends payable with respect to the Preferred Shares were $39 million and $24 million, respectively.

The Preferred Shares outstanding would have been convertible, if otherwise permitted, into approximately 20 million shares of common stock on September 29, 2023 and June 30, 2023 and as of September 29, 2023 and June 30, 2023, the total aggregate liquidation preference was $939 million and $924 million, respectively.

Shareholders' Equity and Convertible Preferred Stock - Convertible Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended	12 Months Ended
	Jan. 31, 2023	Sep. 29, 2023	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Convertible preferred stock, shares authorized (in shares)		5,000,000	5,000,000
Convertible preferred stock, par value (in dollars per share)		$ 0.01	$ 0.01
Convertible preferred stock, liquidation preference		$ 939	$ 924
Series A Preferred Stock \| Private Placement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Convertible preferred stock, shares authorized (in shares)	900,000
Convertible preferred stock, par value (in dollars per share)	$ 0.01
Convertible Preferred Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cumulative dividends		39	24
Unpaid dividends		$ 39	$ 24
Convertible shares issued (in shares)		20,000,000	20,000,000
Convertible preferred stock, liquidation preference		$ 939	$ 924
Convertible Preferred Stock \| Private Placement
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Convertible preferred stock, shares authorized (in shares)	5,000,000
Aggregate purchase price	$ 900
Issuance costs	$ 24
Preferred dividend annual rate increasing per annum (as percent)	6.25%
Convertible Preferred Stock \| Private Placement \| January 31, 2030
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred dividend annual rate increasing per annum (as percent)	7.25%
Convertible Preferred Stock \| Private Placement \| January 31, 2033
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred dividend annual rate increasing per annum (as percent)	8.25%

Net Income (Loss) Per Common Share - Additional Information (Details)	Sep. 29, 2023	Jun. 30, 2023
1.50% convertible notes due 2024 \| Convertible Debt
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Debt instrument, interest rate (percentage)	1.50%	1.50%

Income Tax Expense - Unrecognized Tax Benefits (Details) $ in Millions	3 Months Ended
	Sep. 29, 2023 USD ($)
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefit, beginning balance	$ 1,021
Gross increases related to current year tax positions	2
Gross increases related to prior year tax positions	17
Gross decreases related to prior year tax positions	(3)
Settlements	(363)
Lapse of statute of limitations	(2)
Unrecognized tax benefit, ending balance	$ 672

Organization and Basis of Presentation (Policies)	3 Months Ended
Organization and Basis of Presentation (Policies)	Sep. 29, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Western Digital Corporation (“Western Digital” or the “Company”) is a leading developer, manufacturer, and provider of data storage devices and solutions based on both NAND flash and hard disk drive technologies. The Company’s broad portfolio of technology and products address the following key end markets: Cloud, Client and Consumer. The Company also generates immaterial license and royalty revenue from its extensive intellectual property portfolio, which is included in each of these three end market categories. The accounting policies followed by the Company are set forth in Part II, Item 8, Note 1, Organization and Basis of Presentation, of the Notes to Consolidated Financial Statements included in the Company’s Annual Report on Form 10‑K for the year ended June 30, 2023. In the opinion of management, all adjustments necessary to fairly state the Condensed Consolidated Financial Statements have been made. All such adjustments are of a normal, recurring nature. Certain information and footnote disclosures normally included in the Consolidated Financial Statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and the notes thereto included in the Company’s Annual Report on Form 10‑K for the year ended June 30, 2023. The results of operations for interim periods are not necessarily indicative of results to be expected for the full year.
Fiscal Year	Fiscal Year The Company’s fiscal year ends on the Friday nearest to June 30 and typically consists of 52 weeks. Approximately every five to six years, the Company reports a 53-week fiscal year to align the fiscal year with the foregoing policy. Fiscal year 2024, which will end on June 28, 2024, and fiscal year 2023, which ended June 30, 2023, are each comprised of 52 weeks, with all quarters presented consisting of 13 weeks.
Segment Reporting	Segment Reporting The Company manufactures, markets, and sells data storage devices and solutions in the United States (“U.S.”) and in foreign countries through its sales personnel, dealers, distributors, retailers, and subsidiaries. The Company manages and reports under two reportable segments: flash-based products (“Flash”) and hard disk drives (“HDD”). The Chief Executive Officer, who is the Company’s Chief Operating Decision Maker (“CODM”), evaluates the performance of the Company and makes decisions regarding the allocation of resources based on each operating segment’s net revenue and gross margin. Because of the integrated nature of the Company’s production and distribution activities, separate segment asset measures are either not available or not used as a basis for the CODM to evaluate the performance of or to allocate resources to the segments.
Use of Estimates	Use of Estimates Company management has made estimates and assumptions relating to the reporting of certain assets and liabilities in conformity with U.S. GAAP. These estimates and assumptions have been applied using methodologies that are consistent throughout the periods presented with consideration given to the potential impacts of current macroeconomic conditions. However, actual results could differ materially from these estimates.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Pronouncements Recently Adopted In September 2022, the Financial Accounting Standards Board issued an accounting standards update (“ASU”) No. 2022-04, “Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations”, which requires annual and interim disclosures for entities that use supplier finance programs in connection with the purchase of goods and services. The ASU requires the Company to provide disclosure of outstanding obligations to such suppliers for all balance sheet dates presented beginning with the Company’s first quarter of 2024 and to provide certain rollforward information related to those obligations beginning in the Company’s first fiscal quarter of 2025. The ASU does not affect the recognition, measurement, or financial statement presentation of supplier finance program obligations. The Company adopted the guidance on the first day of fiscal year 2024, except for the rollforward information, which the Company is compiling and intends to provide beginning in fiscal year 2025. See Note 15, Supplier Finance Program, of the Notes to the Condensed Consolidated Financial Statements for information regarding the supplier finance program.
Fair Value Measurements and Investments	Financial assets and liabilities that are remeasured and reported at fair value at each reporting period are classified and disclosed in one of the following three levels: Level 1. Quoted prices in active markets for identical assets or liabilities. Level 2. Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3. Inputs that are unobservable for the asset or liability and that are significant to the fair value of the assets or liabilities.

- Definition

Disclosure of accounting policy for segment reporting.

+ References + Details

Supplemental Financial Statement Data - Inventory (Details) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Inventories:
Raw materials and component parts	$ 1,975	$ 2,096
Work-in-process	925	979
Finished goods	597	623
Total inventories	$ 3,497	$ 3,698

Business Segments, Geographic Information, and Concentrations of Risk (Tables)

3 Months Ended

Sep. 29, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table summarizes the operating performance of the Company’s reportable segments:


	Three Months Ended
	September 29, 2023			September 30, 2022
	$ in millions
Net revenue:
Flash	$	1,556		$	1,722
HDD	1,194			2,014
Total net revenue	$	2,750		$	3,736
Gross profit:
Flash	$	(161)		$	422
HDD	273			574
Total gross profit for segments	112			996
Unallocated corporate items:
Stock-based compensation expense	(13)			(14)
Amortization of acquired intangible assets	—			(1)




Total unallocated corporate items	(13)			(15)
Consolidated gross profit	$	99		$	981
Gross margin:
Flash	(10.3)		%	24.5		%
HDD	22.9		%	28.5		%
Consolidated gross margin	3.6		%	26.3		%

Schedule of Disaggregation of Revenue

The Company’s disaggregated revenue information is as follows:



	Three Months Ended
		September 29, 2023		September 30, 2022
		(in millions)





Revenue by End Market
Cloud		$	872	$	1,829
Client		1,147		1,229
Consumer		731		678
Total Revenue		$	2,750	$	3,736

Revenue by Geography
Asia		$	1,551	$	1,686
Americas		662		1,423
Europe, Middle East and Africa		537		627
Total Revenue		$	2,750	$	3,736

Schedule of Goodwill

The following table provides a summary of goodwill activity for the period:


	Flash		HDD		Total
	(in millions)
Balance at June 30, 2023	$	5,716	$	4,321	$	10,037

Foreign currency translation adjustment	(1)		(1)		(2)

Balance at September 29, 2023	$	5,715	$	4,320	$	10,035

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

Derivative Instruments and Hedging Activities (Details)	3 Months Ended
Derivative Instruments and Hedging Activities (Details)	Sep. 29, 2023
Foreign Exchange Forward Contracts Designated
Derivatives, Fair Value [Line Items]
Derivative, term of contract (to not exceed) (in months)	12 months

Income Tax Expense (Tables)

3 Months Ended

Sep. 29, 2023

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The following table presents the Company’s Income tax expense and the effective tax rate:


	Three Months Ended
	September 29, 2023			September 30, 2022
	($ in millions)
Income (loss) before taxes	$	(682)		$	84
Income tax expense	3			57
Effective tax rate	—		%	68		%

Schedule of Income Tax Contingencies

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits excluding accrued interest and penalties for the three months ended September 29, 2023 (in millions):


Accrual balance at June 30, 2023	$	1,021
Gross increases related to current year tax positions	2
Gross increases related to prior year tax positions	17
Gross decreases related to prior year tax positions	(3)
Settlements	(363)
Lapse of statute of limitations	(2)
Accrual balance at September 29, 2023	$	672

Related Parties and Related Commitments and Contingencies - Equity Investments (Details) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes receivable and investments in Flash Ventures	$ 1,245	$ 1,297
Flash Partners Ltd
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investments	155	160
Flash Partners Ltd \| Related Party
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, related parties	21	37
Flash Alliance Ltd
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investments	227	234
Flash Alliance Ltd \| Related Party
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, related parties	35	48
Flash Forward Ltd
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investments	108	109
Flash Forward Ltd \| Related Party
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, related parties	699	709
Equity Method Investee
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes receivable and investments in Flash Ventures	$ 1,245	$ 1,297

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Debt Instrument [Line Items]
Total debt	$ 7,700	$ 7,100
Issuance costs and debt discounts	(28)	(30)
Subtotal	7,672	7,070
Less current portion of long-term debt	(1,850)	(1,213)
Long-term debt	5,822	5,857
Variable interest rate Delayed Draw Term Loan due 2024
Debt Instrument [Line Items]
Total debt	$ 600	$ 0
4.75% senior unsecured notes due 2026
Debt Instrument [Line Items]
Debt instrument, interest rate (percentage)	4.75%	4.75%
Total debt	$ 2,300	$ 2,300
Variable interest rate Term Loan A-2 maturing 2027
Debt Instrument [Line Items]
Debt instrument, interest rate (percentage)	6.807%
Total debt	$ 2,700	$ 2,700
2.85% senior notes due 2029
Debt Instrument [Line Items]
Debt instrument, interest rate (percentage)	2.85%	2.85%
Total debt	$ 500	$ 500
3.10% senior notes due 2032
Debt Instrument [Line Items]
Debt instrument, interest rate (percentage)	3.10%	3.10%
Total debt	$ 500	$ 500
Convertible Debt \| 1.50% convertible notes due 2024
Debt Instrument [Line Items]
Debt instrument, interest rate (percentage)	1.50%	1.50%
Total debt	$ 1,100	$ 1,100

Income Tax Expense - Additional Information (Details) $ in Millions	3 Months Ended
	Sep. 29, 2023 USD ($)
Income Tax Disclosure [Line Items]
Unrecognized tax benefits, period net decrease	$ 30
Penalties and interest accrued on unrecognized tax benefits	157
Potential payables related to unrecognized tax benefits	663
Tax Years 2008 Through 2012
Income Tax Disclosure [Line Items]
Federal tax related to adjustments for transfer pricing	753
Tax and interest payments	363
Interest	160
Mandatory deemed repatriation tax obligations	34
Tax Years 2008 Through 2015
Income Tax Disclosure [Line Items]
Mandatory deemed repatriation tax obligations	168
Settlement with Taxing Authority \| Tax Years 2008 Through 2015
Income Tax Disclosure [Line Items]
Penalties and interest accrued on unrecognized tax benefits	$ 183

Employee Termination, Asset Impairment, and Other - Expense Recognition (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Sep. 29, 2023	Sep. 29, 2023	Sep. 30, 2022
Restructuring Cost and Reserve [Line Items]
Gain on sale-leaseback of facility	$ (85)
Business Realignment
Restructuring Cost and Reserve [Line Items]
Employee termination benefits		$ 19	$ 24
Contract termination and other		29	0
Asset impairments		94	0
Gain on sale-leaseback of facility		(85)	0
Total employee termination, asset impairment, and other		$ 57	$ 24

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Supplemental Financial Statement Data - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Proceeds on sale of trade accounts receivable	$ 150	$ 291
Factored receivables outstanding	150		$ 150
Intangible assets, net	$ 80		$ 80

Subsequent Events	3 Months Ended
Subsequent Events	Sep. 29, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Separation of Business Units On October 30, 2023, the Company announced that its Board of Directors authorized management to pursue a plan to separate its HDD and Flash business units into two independent public companies. The completion of the separation is subject to certain conditions, including final approval by its Board of Directors. The Company is targeting to complete the separation of the business units in the second half of calendar year 2024. Convertible Notes and Related Capped Call Transactions On November 3, 2023, the Company issued $1.60 billion aggregate principal amount of convertible senior notes which bear interest at an annual rate of 3.00% and mature on November 15, 2028, unless earlier repurchased, redeemed or converted (the “2028 Convertible Notes”). The 2028 Convertible Notes are jointly and severally guaranteed by each of the Company’s wholly-owned subsidiaries that guarantees the 2026 Notes (currently, Western Digital Technologies, Inc.). The 2028 Convertible Notes are convertible at an initial conversion price of approximately $52.20 per share of common stock. Prior to August 15, 2028, the 2028 Convertible Notes are convertible only upon the occurrence of certain events and during certain periods. Upon any conversion of the 2028 Convertible Notes, the Company will pay cash up to the aggregate principal amount of the notes to be converted and pay or deliver, as the case may be, cash, shares of the Company’s common stock or a combination thereof, at the Company’s election, in respect of the remainder, if any, of its conversion obligation in excess of the aggregate principal amount of the notes being converted. In connection with the debt issuance, the Company used approximately $155 million of the net proceeds of the 2028 Convertible Notes offering to pay the cost of entering into capped call contracts with a cap price of approximately $70.26 per share to hedge the potential dilution impact of the notes’ conversion feature. Contemporaneously with the issuance of the 2028 Convertible Notes, the Company entered into individually negotiated transactions with certain holders of the Company’s existing 2024 Convertible Notes to repurchase approximately $508 million aggregate principal amount of such notes at an immaterial discount.

Supplemental Financial Statement Data - Property, Plant and Equipment (Details) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Property, plant and equipment:
Property, plant and equipment, gross	$ 12,025	$ 12,250
Accumulated depreciation	(8,654)	(8,630)
Property, plant and equipment, net	3,371	3,620
Land
Property, plant and equipment:
Property, plant and equipment, gross	235	269
Buildings and improvements
Property, plant and equipment:
Property, plant and equipment, gross	1,842	1,955
Machinery and equipment
Property, plant and equipment:
Property, plant and equipment, gross	8,691	8,704
Computer equipment and software
Property, plant and equipment:
Property, plant and equipment, gross	473	470
Furniture and fixtures
Property, plant and equipment:
Property, plant and equipment, gross	55	54
Construction-in-process
Property, plant and equipment:
Property, plant and equipment, gross	$ 729	$ 798

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue, net	$ 2,750	$ 3,736
Cost of revenue	2,651	2,755
Gross profit	99	981
Operating expenses:
Research and development	431	552
Selling, general and administrative	207	247
Employee termination, asset impairment, and other	57	24
Total operating expenses	695	823
Operating income (loss)	(596)	158
Interest and other income (expense):
Interest income	8	2
Interest expense	(98)	(70)
Other income (expense), net	4	(6)
Total interest and other expense, net	(86)	(74)
Income (loss) before taxes	(682)	84
Income tax expense	3	57
Net income (loss)	(685)	27
Less: cumulative dividends allocated to preferred shareholders	15	0
Net income (loss) attributable to common shareholders	$ (700)	$ 27
Net income (loss) per common share:
Basic (in dollars per share)	$ (2.17)	$ 0.09
Diluted (in dollars per share)	$ (2.17)	$ 0.08
Weighted average shares outstanding:
Basic (in shares)	323	316
Diluted (in shares)	323	319

Business Segments, Geographic Information, and Concentrations of Risk - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue, net	$ 2,750	$ 3,736
Asia
Disaggregation of Revenue [Line Items]
Revenue, net	1,551	1,686
Americas
Disaggregation of Revenue [Line Items]
Revenue, net	662	1,423
Europe, Middle East and Africa
Disaggregation of Revenue [Line Items]
Revenue, net	537	627
Cloud
Disaggregation of Revenue [Line Items]
Revenue, net	872	1,829
Client
Disaggregation of Revenue [Line Items]
Revenue, net	1,147	1,229
Consumer
Disaggregation of Revenue [Line Items]
Revenue, net	$ 731	$ 678

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Employee Termination, Asset Impairment, and Other - Business Realignment Activities (Details) - Business Realignment $ in Millions	3 Months Ended
	Sep. 29, 2023 USD ($)
Restructuring Reserve [Roll Forward]
Accrual balance at June 30, 2023	$ 36
Charges	48
Cash payments	(45)
Accrual balance at September 29, 2023	39
Employee Termination Benefits
Restructuring Reserve [Roll Forward]
Accrual balance at June 30, 2023	31
Charges	19
Cash payments	(45)
Accrual balance at September 29, 2023	5
Contract Termination and Other
Restructuring Reserve [Roll Forward]
Accrual balance at June 30, 2023	5
Charges	29
Cash payments	0
Accrual balance at September 29, 2023	$ 34

Debt

3 Months Ended

Sep. 29, 2023

Debt Disclosure [Abstract]

Debt

Debt consisted of the following:


	September 29, 2023		June 30, 2023
	(in millions)













1.50% convertible notes due 2024	$	1,100	$	1,100

Variable interest rate Delayed Draw Term Loan due 2024	600		—
4.75% senior unsecured notes due 2026	2,300		2,300
Variable interest rate Term Loan A-2 maturing 2027	2,700		2,700
2.85% senior notes due 2029	500		500
3.10% senior notes due 2032	500		500
Total debt	7,700		7,100
Issuance costs and debt discounts	(28)		(30)
Subtotal	7,672		7,070
Less current portion of long-term debt	(1,850)		(1,213)
Long-term debt	$	5,822	$	5,857

During the three months ended September 29, 2023, the Company drew $600 million principal amount (the “Delayed Draw Term Loan”) under a loan agreement entered into in January 2023 and amended in June 2023 (the “Delayed Draw Term Loan Agreement”), which allowed the Company to draw a single loan of up to $600 million through August 14, 2023. The Delayed Draw Term Loan will mature on June 28, 2024.

The Delayed Draw Term Loan bears interest, at the Company’s option, at a per annum rate equal to either (x) the Adjusted Term SOFR Rate (as defined in the Delayed Draw Term Loan Agreement) plus an applicable margin varying from 1.750% to 2.625% or (y) a base rate plus an applicable margin varying from 0.750% to 1.625%, in each case depending on the corporate family ratings of the Company from at least two of Standard & Poor’s Ratings Services, Moody’s Investors Service, Inc. and Fitch Ratings, Inc. (the “Credit Rating Agencies”). The all-in interest rate for the Delayed Draw Term Loan as of September 29, 2023 was 7.416%.

The Term Loan A-2 Loan bears interest, at the Company’s option, at a per annum rate equal to either (x) the Adjusted Term SOFR (as defined in the loan agreement governing the Term Loan A-2) plus an applicable margin varying from 1.125% to 2.000% or (y) a base rate plus an applicable margin varying from 0.125% to 1.000%, in each case depending on the corporate family ratings of the Company from at least two of the Credit Rating Agencies, with an initial interest rate of Adjusted Term SOFR plus 1.375%. The all-in interest rate for Term Loan A-2 as of September 29, 2023 was 6.807%.

The loan agreements governing the Company’s revolving credit facility, Term Loan A-2 due 2027, and the Delayed Draw Term Loan require the Company to comply with certain financial covenants, consisting of a leverage ratio, a minimum liquidity and a free cash flow requirement. As of September 29, 2023, the Company was in compliance with these financial covenants.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Subsequent Events (Details)	Nov. 03, 2023 USD ($) $ / shares $ / Unit	Oct. 30, 2023 company	Sep. 29, 2023	Jun. 30, 2023
1.50% convertible notes due 2024 \| Convertible Debt
Subsequent Event [Line Items]
Debt instrument, interest rate (percentage)			1.50%	1.50%
Subsequent Event
Subsequent Event [Line Items]
Number of independent public companies \| company		2
Cost of capped call transactions	$ 155,000,000
Subsequent Event \| 2028 Convertible Notes \| Convertible Debt
Subsequent Event [Line Items]
Debt instrument, face amount	$ 1,600,000,000
Debt instrument, interest rate (percentage)	3.00%
Conversion price (in USD per share) \| $ / shares	$ 52.20
Derivative cap price (in USD per share) \| $ / Unit	70.26
Subsequent Event \| 1.50% convertible notes due 2024 \| Convertible Debt
Subsequent Event [Line Items]
Repayment of aggregate principal amount convertible notes	$ 508,000,000

Shareholders' Equity and Convertible Preferred Stock (Tables)

3 Months Ended

Sep. 29, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Arrangements by Share-based Payment Award


	Three Months Ended
	September 29, 2023		September 30, 2022
	(in millions)

RSUs and PSUs	$	65	$	75
ESPP	12		11
Total	$	77	$	86


	Three Months Ended
	September 29, 2023		September 30, 2022
	(in millions)
Cost of revenue	$	13	$	14
Research and development	34		39
Selling, general and administrative	30		33

Subtotal	77		86
Tax benefit	(10)		(13)
Total	$	67	$	73

Schedule of Employee Service Share-based Compensation, Unrecognized Costs

The following table presents the unamortized compensation cost and weighted average service period of all unvested outstanding awards as of September 29, 2023:


	Unamortized Compensation Costs		Weighted Average Service Period
	(in millions)		(years)

RSUs and PSUs (1)	$	588	2.8
ESPP	55		1.2
Total unamortized compensation cost	$	643

(1) Weighted average service period assumes the performance conditions are met for the PSUs.

Schedule of Stock Option Activity

The following table summarizes stock option activity under the Company’s incentive plans. As of September 29, 2023, there were no remaining outstanding options.


	Number of Shares	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life
	(in millions)			(in years)






























Options outstanding at June 30, 2023	0.3	$	44.95	0.10



Canceled or expired	(0.3)	44.95
Options outstanding at September 29, 2023	—	$	—

Schedule of Restricted Stock Unit

The following table summarizes RSU and PSU activity under the Company’s incentive plans:


	Number of Shares	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value at Vest Date
	(in millions)			(in millions)






























RSUs and PSUs outstanding at June 30, 2023	13.8	$	46.56
Granted	5.5	37.87

Vested	(3.3)	47.00		$	147
Forfeited	(0.9)	46.86
RSUs and PSUs outstanding at September 29, 2023	15.1	$	43.85

Leases and Other Commitments - Supplemental Balance Sheet (Details) $ in Millions	Sep. 29, 2023 USD ($)
Minimum lease payments by year:
Remaining nine months of 2024	$ 49
2025	63
2026	65
2027	58
2028	51
Thereafter	329
Total future minimum lease payments	615
Less: Imputed interest	175
Present value of lease liabilities	$ 440
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued expenses
Less: Current portion (included in Accrued expenses)	$ 44
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other liabilities
Long-term operating lease liabilities (included in Other liabilities )	$ 396
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets
Operating lease right-of-use assets (included in Other non-current assets)	$ 419
Weighted average remaining lease term in years	10 years 6 months
Weighted average discount rate	6.00%

Leases and Other Commitments - Long-Term Commitments (Details) $ in Millions	Sep. 29, 2023 USD ($)
Purchase Obligation, Fiscal Year Maturity [Abstract]
Remaining nine months of 2024	$ 215
2025	267
2026	75
2027	52
2028	20
Thereafter	130
Total	$ 759

Fair Value Measurements and Investments - Debt Instrument Fair Value (Details) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
1.50% convertible notes due 2024 \| Convertible Debt
Debt Instrument [Line Items]
Debt instrument, interest rate (percentage)	1.50%	1.50%
4.75% senior unsecured notes due 2026
Debt Instrument [Line Items]
Debt instrument, interest rate (percentage)	4.75%	4.75%
Variable interest rate Term Loan A-2 maturing 2027
Debt Instrument [Line Items]
Debt instrument, interest rate (percentage)	6.807%
2.85% senior notes due 2029
Debt Instrument [Line Items]
Debt instrument, interest rate (percentage)	2.85%	2.85%
3.10% senior notes due 2032
Debt Instrument [Line Items]
Debt instrument, interest rate (percentage)	3.10%	3.10%
Carrying Value
Debt Instrument [Line Items]
Long-term debt	$ 7,672	$ 7,070
Carrying Value \| 1.50% convertible notes due 2024
Debt Instrument [Line Items]
Long-term debt	1,099	1,099
Carrying Value \| Variable interest rate Delayed Draw Term Loan due 2024
Debt Instrument [Line Items]
Long-term debt	600	0
Carrying Value \| 4.75% senior unsecured notes due 2026
Debt Instrument [Line Items]
Long-term debt	2,294	2,293
Carrying Value \| Variable interest rate Term Loan A-2 maturing 2027
Debt Instrument [Line Items]
Long-term debt	2,688	2,687
Carrying Value \| 2.85% senior notes due 2029
Debt Instrument [Line Items]
Long-term debt	496	496
Carrying Value \| 3.10% senior notes due 2032
Debt Instrument [Line Items]
Long-term debt	495	495
Level 2 \| Fair Value
Debt Instrument [Line Items]
Long-term debt	7,328	6,692
Level 2 \| Fair Value \| 1.50% convertible notes due 2024
Debt Instrument [Line Items]
Long-term debt	1,082	1,067
Level 2 \| Fair Value \| Variable interest rate Delayed Draw Term Loan due 2024
Debt Instrument [Line Items]
Long-term debt	606	0
Level 2 \| Fair Value \| 4.75% senior unsecured notes due 2026
Debt Instrument [Line Items]
Long-term debt	2,194	2,193
Level 2 \| Fair Value \| Variable interest rate Term Loan A-2 maturing 2027
Debt Instrument [Line Items]
Long-term debt	2,678	2,661
Level 2 \| Fair Value \| 2.85% senior notes due 2029
Debt Instrument [Line Items]
Long-term debt	401	400
Level 2 \| Fair Value \| 3.10% senior notes due 2032
Debt Instrument [Line Items]
Long-term debt	$ 367	$ 371