Western Digital (WDC) 10-Q 4 Nov 21 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Oct. 01, 2021	Oct. 28, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 1, 2021
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, $.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		311,622,921
Entity Central Index Key	0000106040
Current Fiscal Year End Date	--07-01
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) shares in Millions, $ in Millions	Oct. 01, 2021	Jul. 02, 2021
Current assets:
Cash and cash equivalents	$ 3,290	$ 3,370
Accounts receivable, net	2,446	2,257
Inventories	3,544	3,616
Other current assets	576	514
Total current assets	9,856	9,757
Non-current assets:
Property, plant and equipment, net	3,260	3,188
Notes receivable and investments in Flash Ventures	1,646	1,586
Goodwill	10,066	10,066
Other intangible assets, net	364	442
Other non-current assets	1,199	1,093
Total assets	26,391	26,132
Current liabilities:
Accounts payable	1,896	1,934
Accounts payable to related parties	378	398
Accrued expenses	1,617	1,653
Accrued compensation	567	634
Current portion of long-term debt	251	251
Total current liabilities	4,709	4,870
Non-current liabilities:
Long-term debt	8,270	8,474
Other liabilities	2,051	2,067
Total liabilities	15,030	15,411
Commitments and contingencies (Notes 9, 10, 12 and 16)
Shareholders’ equity:
Preferred stock, $0.01 par value; authorized — 5 shares; issued and outstanding — none	0	0
Common stock, $0.01 par value; authorized — 450 shares; issued — 312 shares; outstanding — 311 shares and 308 shares, respectively	3	3
Additional paid-in capital	3,401	3,608
Accumulated other comprehensive loss	(167)	(197)
Retained earnings	8,149	7,539
Treasury stock — common shares at cost; 1 shares and 4 shares, respectively	(25)	(232)
Total shareholders’ equity	11,361	10,721
Total liabilities and shareholders’ equity	$ 26,391	$ 26,132
Treasury stock (in shares)	1	4

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Oct. 01, 2021	Jul. 02, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
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)	312,000,000	312,000,000
Common stock, shares outstanding (in shares)	311,000,000	308,000,000
Treasury stock (in shares)	1,000,000	4,000,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Income Statement [Abstract]
Revenue, net	$ 5,051	$ 3,922
Cost of revenue	3,386	3,018
Gross profit	1,665	904
Operating expenses:
Research and development	578	555
Selling, general and administrative	291	256
Employee termination, asset impairment, and other charges	18	23
Total operating expenses	887	834
Operating income	778	70
Interest and other income (expense):
Interest income	2	2
Interest expense	(78)	(84)
Other income, net	2	9
Total interest and other expense, net	(74)	(73)
Income (loss) before taxes	704	(3)
Income tax expense	94	57
Net income (loss)	$ 610	$ (60)
Income (loss) per common share
Basic (in dollars per share)	$ 1.97	$ (0.20)
Diluted (in dollars per share)	$ 1.93	$ (0.20)
Weighted average shares outstanding:
Basic (in shares)	310	303
Diluted (in shares)	316	303

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 610	$ (60)
Other comprehensive income, before tax:
Actuarial pension gain	1	1
Foreign currency translation adjustment	4	32
Net unrealized gain on derivative contracts and available-for-sale securities	33	30
Total other comprehensive income, before tax	38	63
Income tax expense related to items of other comprehensive income, before tax	(8)	(7)
Other comprehensive income, net of tax	30	56
Total comprehensive income (loss)	$ 640	$ (4)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Cash flows from operating activities
Net income (loss)	$ 610	$ (60)
Adjustments to reconcile net income (loss) to net cash provided by operations:
Depreciation and amortization	250	374
Stock-based compensation	76	76
Deferred income taxes	27	11
Loss on disposal of assets	0	1
Amortization of debt discounts	10	10
Other non-cash operating activities, net	(12)	(6)
Changes in:
Accounts receivable, net	(188)	282
Inventories	73	(285)
Accounts payable	(41)	99
Accounts payable to related parties	(20)	(3)
Accrued expenses	(36)	(23)
Accrued compensation	(67)	26
Other assets and liabilities, net	(161)	(139)
Net cash provided by operating activities	521	363
Cash flows from investing activities
Purchases of property, plant and equipment	(245)	(337)
Proceeds from the sale of property, plant and equipment	0	7
Notes receivable issuances to Flash Ventures	(165)	(114)
Notes receivable proceeds from Flash Ventures	113	277
Strategic investments and other, net	(15)	1
Net cash used in investing activities	(312)	(166)
Cash flows from financing activities
Issuance of stock under employee stock plans	2	1
Taxes paid on vested stock awards under employee stock plans	(78)	(41)
Repayment of debt	(213)	(213)
Net cash used in financing activities	(289)	(253)
Effect of exchange rate changes on cash	0	3
Net decrease in cash and cash equivalents	(80)	(53)
Cash and cash equivalents, beginning of year	3,370	3,048
Cash and cash equivalents, end of period	3,290	2,995
Supplemental disclosure of cash flow information:
Cash paid for income taxes	221	144
Cash paid for interest	$ 99	$ 104

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY - USD ($) shares in Millions, $ in Millions	Total	Adoption of new accounting standards	Common Stock	Treasury Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Retained EarningsAdoption of new accounting standards
Beginning balance (in shares) at Jul. 03, 2020			312	10
Beginning balance at Jul. 03, 2020	$ 9,551	$ (7)	$ 3	$ (737)	$ 3,717	$ (157)	$ 6,725	$ (7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(60)						(60)
Employee stock plans (in shares)				2
Employee stock plans	(40)			$ 216	(256)
Stock-based compensation	76				76
Actuarial pension gain	1					1
Foreign currency translation adjustment	32					32
Net unrealized gain (loss) on derivative contracts	23					23
Ending balance (in shares) at Oct. 02, 2020			312	8
Ending balance at Oct. 02, 2020	9,576		$ 3	$ (521)	3,537	(101)	6,658
Beginning balance (in shares) at Jul. 02, 2021			312	4
Beginning balance at Jul. 02, 2021	10,721		$ 3	$ (232)	3,608	(197)	7,539
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	610						610
Employee stock plans (in shares)				3
Employee stock plans	(76)			$ 207	(283)
Stock-based compensation	76				76
Actuarial pension gain	1					1
Foreign currency translation adjustment	4					4
Net unrealized gain (loss) on derivative contracts	25					25
Ending balance (in shares) at Oct. 01, 2021			312	1
Ending balance at Oct. 01, 2021	$ 11,361		$ 3	$ (25)	$ 3,401	$ (167)	$ 8,149

Organization and Basis of Prese

Organization and Basis of Presentation	3 Months Ended
	Oct. 01, 2021
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 that address the evolving needs of the information technology (“IT”) industry and the infrastructure that enables the proliferation of data in virtually every other industry. The Company creates environments for data to thrive. The Company is driving the innovation needed to help customers capture, preserve, access and transform an ever-increasing diversity of data. Everywhere data lives, from advanced data centers to mobile sensors to personal devices, the Company’s industry-leading solutions deliver the possibilities of data. 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 fiscal year ended July 2, 2021. 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 fiscal year ended July 2, 2021. 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 years 2022, which ends on July 1, 2022, and 2021, which ended on July 2, 2021, are each comprised of 52 weeks, with all quarters presented consisting of 13 weeks. 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 the ongoing COVID-19 pandemic. However, actual results could differ materially from these estimates and be significantly affected by the severity and duration of the pandemic, the extent of actions to contain or treat COVID-19, the timing, distribution, efficacy and public acceptance of vaccines around the world, any possible resurgence of COVID-19, including the emergence of more contagious or vaccine-resistant variants and how quickly and to what extent normal economic and operating activity can resume.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Oct. 01, 2021
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Pronouncements Recently Adopted In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ASU 2019-12”). ASU 2019-12 removes certain exceptions for recognizing deferred taxes for investments, performing intraperiod allocation and calculating income taxes in interim periods. The ASU also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. The Company adopted this ASU on July 3, 2021, which is the beginning of fiscal 2022, and its adoption did not have a material impact on the Company’s Condensed Consolidated Financial Statements. Recently Issued Accounting Pronouncements Not Yet Adopted In August 2020, the FASB issued ASU No. 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (“ASU 2020-06”). ASU 2020-06 reduces the number of accounting models for convertible debt instruments and convertible preferred stock and results in fewer instruments with embedded conversion features being separately recognized from the host contract as compared with current standards. Those instruments that do not have a separately recognized embedded conversion feature will no longer recognize a debt issuance discount related to such a conversion feature and would recognize less interest expense on a periodic basis. Additionally, the ASU amends the calculation of the share dilution impact related to a conversion feature and eliminates the treasury method as an option. For instruments that do not have a component mandatorily settled in cash, the change will likely result in a higher amount of share dilution in the calculation of earnings per share. The Company expects to adopt this ASU in the first quarter of fiscal 2023, and is currently assessing the impact of adoption.

Segment Information

Segment Information	3 Months Ended
	Oct. 01, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information The Company manufactures, markets, and sells data storage devices and solutions in the U.S. and in foreign countries through its sales personnel, dealers, distributors, retailers, and subsidiaries. Historically, the Company had been managed and reported under a single operating segment. Late in the first quarter of fiscal 2021, the Chief Executive Officer, who is the Company’s Chief Operating Decision Maker (“CODM”), announced a decision to reorganize the Company’s business by forming two separate product business units: hard disk drives (“HDD”) and flash-based products (“Flash”). To align with the new operating model and business structure, the Company made management organizational changes and implemented new reporting modules and processes to provide discrete information to manage the business. Effective July 3, 2021, the Company’s management finalized its assessment of the Company’s operating segments and concluded that the Company now has two reportable segments: HDD and Flash. The CODM evaluates performance of the Company and makes decisions regarding allocation of resources based on each operating segment’s net revenue and gross margin, which are summarized below. Because of the integrated nature of the Company’s production and distribution activities, separate segment asset measures are not available or reviewed by the CODM to evaluate the performance of or to allocate resources to the segments. The following table summarizes the operating performance of the Company’s reportable segments: Three Months Ended October 1, October 2, (in millions) Net revenue: HDD $ 2,561 $ 1,844 Flash 2,490 2,078 Total net revenue $ 5,051 $ 3,922 Gross profit HDD $ 792 $ 483 Flash 921 548 Total gross profit for segments 1,713 1,031 Unallocated corporate items: Amortization of acquired intangible assets 39 145 Stock-based compensation expense 9 12 Charges related to a power outage incident and related recovery — (30) Total unallocated corporate items (48) (127) Consolidated gross profit $ 1,665 $ 904 Gross margin: HDD 30.9 % 26.2 % Flash 37.0 % 26.4 % Consolidated gross margin 33.0 % 23.0 % Disaggregated Revenue The Company’s broad portfolio of technology and products address multiple end markets. In the fiscal first quarter of 2022, the Company refined the end markets it reports to be Cloud, Client and Consumer. Cloud represents a large and growing end market 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 hard drive and flash products. 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 October 1, October 2, (in millions) Revenue by End Market Cloud $ 2,225 $ 1,291 Client 1,853 1,750 Consumer 973 881 Total Revenue $ 5,051 $ 3,922 Revenue by Geography Americas $ 1,614 $ 1,079 Europe, Middle East and Africa 762 629 Asia 2,675 2,214 Total Revenue $ 5,051 $ 3,922 The Company’s top 10 customers accounted for 43% of its net revenue for the three months ended October 1, 2021, and 44% of its net revenue for the three months ended October 2, 2020. For the three months ended October 1, 2021 and October 2, 2020, no single customer accounted for 10% or more of the Company’s net revenue. Goodwill In connection with the Company’s determination of its reportable segments, effective July 3, 2021, the Company allocated its goodwill between its segments based on the estimated relative fair values of the business units. In addition, management performed a goodwill impairment assessment for each segment and concluded no impairment indicators as of both the beginning and end of the three months ended October 1, 2021. The following table provides a summary of goodwill activity for the period. HDD Flash Total (in millions) Balance at July 3, 2021 $ 4,328 $ 5,738 $ 10,066 Foreign currency translation adjustment — — — Balance at October 1, 2021 $ 4,328 $ 5,738 $ 10,066

Revenues

Revenues	3 Months Ended
	Oct. 01, 2021
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Contract assets represent the Company’s rights to consideration where performance obligations are completed but the customer payments are not due until another performance obligation is satisfied. The Company did not have any contract assets as of either October 1, 2021 or July 2, 2021. The Company incurs sales commissions and other direct incremental costs to obtain sales contracts. The Company has applied the practical expedient to recognize the direct incremental costs of obtaining contracts as an expense when incurred if the amortization period is expected to be one year or less or the amount is not material, with these costs charged to Selling, general and administrative expenses. Other direct incremental costs to obtain contracts that have an expected benefit of greater than one year are amortized over the period of expected cash flows from the related contracts, and the amortization expense is recorded as a reduction to revenue. Total capitalized contract costs as of October 1, 2021 and July 2, 2021 as well as the related amortization for the three months ended October 1, 2021 and October 2, 2020 were not material. Contract liabilities relate to customers’ payments in advance of performance under the contract and primarily relate to remaining performance obligations under support and maintenance contracts. As of October 1, 2021 and July 2, 2021, contract liabilities were not material. The Company applies the practical expedients and does not disclose transaction price allocated to the remaining performance obligations for (i) arrangements that have an original expected duration of one year or less, which mainly consist of support and maintenance contracts, and (ii) variable consideration amounts for sale-based or usage-based royalties for IP license arrangements, which typically range longer than one year. Remaining performance obligations are mainly attributed to right-to-access patent license arrangements and customer support and service contracts, which will be recognized over the remaining contract period. The transaction price allocated to the remaining performance obligations as of October 1, 2021 was $61 million, which is mainly attributable to the functional IP license and service arrangements. The Company expects to recognize this amount as revenue as follows: $30 million during the remainder of fiscal 2022, $30 million in fiscal 2023, and $1 million in fiscal 2024 and thereafter.

Supplemental Financial Statemen

Supplemental Financial Statement Data	3 Months Ended
	Oct. 01, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Financial Statement Data	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. The Company did not sell any trade accounts receivable during the three months ended October 1, 2021. During the three months ended October 2, 2020, the Company sold trade accounts receivable for cash proceeds of $128 million. The discounts on the trade accounts receivable sold were not material and were recorded within Other income, net in the Condensed Consolidated Statements of Operations. There were no factored receivables outstanding as of October 1, 2021 and July 2, 2021. Inventories October 1, July 2, (in millions) Inventories: Raw materials and component parts $ 1,720 $ 1,623 Work-in-process 1,036 1,088 Finished goods 788 905 Total inventories $ 3,544 $ 3,616 Property, plant and equipment, net October 1, July 2, (in millions) Property, plant and equipment: Land $ 278 $ 278 Buildings and improvements 1,875 1,854 Machinery and equipment 8,102 7,860 Computer equipment and software 455 440 Furniture and fixtures 52 51 Construction-in-process 419 476 Property, plant and equipment, gross 11,181 10,959 Accumulated depreciation (7,921) (7,771) Property, plant and equipment, net $ 3,260 $ 3,188 Intangible assets October 1, July 2, (in millions) Finite-lived intangible assets $ 5,508 $ 5,508 In-process research and development 80 80 Accumulated amortization (5,224) (5,146) Intangible assets, net $ 364 $ 442 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. Product warranty liability Changes in the warranty accrual were as follows: Three Months Ended October 1, October 2, (in millions) Warranty accrual, beginning of period $ 363 $ 408 Charges to operations 40 35 Utilization (23) (31) Changes in estimate related to pre-existing warranties (10) (21) Warranty accrual, end of period $ 370 $ 391 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: October 1, July 2, (in millions) Warranty accrual Current portion (included in Accrued expenses) $ 175 $ 175 Long-term portion (included in Other liabilities) 195 188 Total warranty accrual $ 370 $ 363 Other liabilities October 1, July 2, (in millions) Other liabilities: Non-current net tax payable $ 575 $ 684 Payables related to unrecognized tax benefits 758 750 Other non-current liabilities 718 633 Total other liabilities $ 2,051 $ 2,067 Accumulated other comprehensive income (loss) Accumulated other comprehensive income (loss) (“AOCI”), 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 AOCI: Actuarial Pension Gains (Losses) Foreign Currency Translation Adjustment Unrealized Gains (Losses) on Derivative Contracts Total Accumulated Comprehensive Income (Loss) (in millions) Balance at July 2, 2021 $ (35) $ (38) $ (124) $ (197) Other comprehensive income (loss) before reclassifications 1 4 (17) (12) Amounts reclassified from accumulated other comprehensive income — — 50 50 Income tax benefit related to items of other comprehensive income — — (8) (8) Net current-period other comprehensive income 1 4 25 30 Balance at October 1, 2021 $ (34) $ (34) $ (99) $ (167) During the three months ended October 1, 2021, the amounts reclassified out of AOCI were losses related to foreign exchange contracts of $37 million that were substantially all charged to Cost of revenue and losses related to interest rate swap contracts of $12 million that were charged to Interest expense in the Condensed Consolidated Statements of Operations. During the three months ended October 2, 2020, the amounts reclassified out of AOCI primarily related to foreign exchange contracts and were substantially all charged to Cost of revenue in the Condensed Consolidated Statements of Operations.

Fair Value Measurements and Inv

Fair Value Measurements and Investments	3 Months Ended
	Oct. 01, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements and Investments	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 October 1, 2021 and July 2, 2021, and indicate the fair value hierarchy of the valuation techniques utilized to determine such values: October 1, 2021 Level 1 Level 2 Level 3 Total (in millions) Assets: Cash equivalents - Money market funds $ 388 $ — $ — $ 388 Foreign exchange contracts — 14 — 14 Total assets at fair value $ 388 $ 14 $ — $ 402 Liabilities: Foreign exchange contracts $ — $ 47 $ — $ 47 Interest rate swap contract — 69 — 69 Total liabilities at fair value $ — $ 116 $ — $ 116 July 2, 2021 Level 1 Level 2 Level 3 Total (in millions) Assets: Cash equivalents - Money market funds $ 1,283 $ — $ — $ 1,283 Foreign exchange contracts — 14 — 14 Total assets at fair value $ 1,283 $ 14 $ — $ 1,297 Liabilities: Foreign exchange contracts $ — $ 65 $ — $ 65 Interest rate swap contract — 80 — 80 Total liabilities at fair value $ — $ 145 $ — $ 145 During the three months ended October 1, 2021 and October 2, 2020, 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 fiscal 2022 and the fourth quarter of fiscal 2021, respectively. October 1, 2021 July 2, 2021 Carrying Fair Carrying Fair (in millions) Variable interest rate Term Loan A-1 maturing 2023 $ 4,264 $ 4,282 $ 4,327 $ 4,346 Variable interest rate Term Loan B-4 maturing 2023 943 944 1,093 1,094 1.50% convertible notes due 2024 1,025 1,112 1,017 1,173 4.75% senior unsecured notes due 2026 2,289 2,550 2,288 2,556 Total $ 8,521 $ 8,888 $ 8,725 $ 9,169

Derivatives Instruments and Hed

Derivatives Instruments and Hedging Activities	3 Months Ended
	Oct. 01, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities As of October 1, 2021, 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. In addition, the Company had outstanding pay-fixed interest rate swaps that were designated as cash flow hedges of variable rate interest payments on a portion of its term loans through February 2023. Changes in fair values of the non-designated foreign exchange contracts are recognized in Other income, 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 October 1, 2021 and October 2, 2020, 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 AOCI. For more information regarding cash flow hedges, see Part I, Item1, Note 5. Supplemental Information - Accumulated other comprehensive income (losses) , of the Notes to Condensed Consolidated Financial Statements included in this Quarterly Report on Form 10-Q. 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 October 1, 2021 and July 2, 2021, 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.

Debt

Debt	3 Months Ended
	Oct. 01, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt consisted of the following as of October 1, 2021 and July 2, 2021: October 1, July 2, (in millions) Variable interest rate Term Loan A-1 maturing 2023 $ 4,269 $ 4,332 Variable interest rate Term Loan B-4 maturing 2023 943 1,093 1.50% convertible notes due 2024 1,100 1,100 4.75% senior unsecured notes due 2026 2,300 2,300 Total debt 8,612 8,825 Issuance costs and debt discounts (91) (100) Subtotal 8,521 8,725 Less current portion of long-term debt (251) (251) Long-term debt $ 8,270 $ 8,474 The credit agreement governing the revolving credit facility and Term Loan A-1 requires the Company to comply with certain financial covenants, consisting of a leverage ratio and an interest coverage ratio. As of October 1, 2021, the Company was in compliance with these financial covenants. During the three months ended October 1, 2021, the Company made a voluntary prepayment of $150 million on its Term Loan B-4. On October 22, 2021, the Company voluntarily prepaid the remaining principal balance of $943 million on its Term Loan B-4.

Pensions and Other Post-Retirem

Pensions and Other Post-Retirement Benefit Plans	3 Months Ended
	Oct. 01, 2021
Retirement Benefits [Abstract]
Pensions and Other Post-Retirement Benefit Plans	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 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: October 1, July 2, (in millions) Benefit obligation at end of period $ 359 $ 359 Fair value of plan assets at end of period 229 227 Unfunded status $ 130 $ 132 The following table presents the unfunded amounts related to the Pension Plans as recognized on the Company’s Condensed Consolidated Balance Sheets: October 1, July 2, (in millions) Current liabilities $ 1 $ 1 Non-current liabilities 129 131 Net amount recognized $ 130 $ 132

Related Parties and Related Com

Related Parties and Related Commitments and Contingencies	3 Months Ended
	Oct. 01, 2021
Commitments and Contingencies Disclosure [Abstract]
Related Parties and Related Commitments and Contingencies	Related Parties and Related Commitments and Contingencies 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 as of October 1, 2021 and July 2, 2021: October 1, July 2, (in millions) Notes receivable, Flash Partners $ 145 $ 191 Notes receivable, Flash Alliance 194 213 Notes receivable, Flash Forward 681 561 Investment in Flash Partners 201 199 Investment in Flash Alliance 294 293 Investment in Flash Forward 131 129 Total notes receivable and investments in Flash Ventures $ 1,646 $ 1,586 During the three months ended October 1, 2021 and October 2, 2020, the Company made net payments to Flash Ventures of $1.19 billion and $981 million, 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 October 1, 2021 and July 2, 2021, the Company had Accounts payable balances due to Flash Ventures of $378 million and $398 million, respectively. 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 October 1, 2021, 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. October 1, (in millions) Notes receivable $ 1,020 Equity investments 626 Operating lease guarantees 1,985 Inventory and prepayments 790 Maximum estimable loss exposure $ 4,421 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. In June 2019, an unexpected power outage incident occurred at the flash-based memory manufacturing facilities operated in Yokkaichi, Japan. The power outage incident impacted the facilities and process tools and resulted in damage to flash wafers in production and a reduction in the Company’s flash wafer availability. During the three months ended October 2, 2020, the Company recovered $30 million related to this incident from its insurance carriers, which was recorded in Cost of revenue. 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. 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 October 1, 2021. Lease Amounts (Japanese yen, in billions) (U.S. dollar, in millions) Total guarantee obligations ¥ 220 $ 1,985 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 October 1, 2021 in U.S. dollars, based upon the Japanese yen to U.S. dollar exchange rate as of October 1, 2021: Annual Installments Payment of Principal Amortization Purchase Option Exercise Price at Final Lease Terms Guarantee Amount (in millions) Remaining nine months of 2022 $ 443 $ 22 $ 465 2023 481 65 546 2024 325 117 442 2025 138 107 245 2026 91 162 253 Thereafter 4 30 34 Total guarantee obligations $ 1,482 $ 503 $ 1,985 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 October 1, 2021, no amounts have been accrued in the Condensed Consolidated Financial Statements with respect to these indemnification agreements. Unis Venture

Leases and Other Commitments

Leases and Other Commitments	3 Months Ended
	Oct. 01, 2021
Leases [Abstract]
Leases and Other Commitments	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 2034. 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 October 1, 2021: Lease Amounts Minimum lease payments by fiscal year: ($ in millions) Remaining nine months of 2022 $ 33 2023 43 2024 43 2025 41 2026 42 Thereafter 187 Total future minimum lease payments 389 Less: Imputed Interest 60 Present value of lease liabilities 329 Less: Current portion (included in Accrued expenses) 35 Long-term operating lease liabilities (included in Other liabilities) $ 294 Operating lease right-of-use assets (included in Other non-current assets) $ 316 Weighted average remaining lease term in years 8.9 Weighted average discount rate 3.4 % The following table summarizes supplemental disclosures of operating cost and cash flow information related to operating leases: Three Months Ended October 1, October 2, (in millions) Cost of operating leases $ 13 $ 13 Cash paid for operating leases 12 12 Operating lease assets obtained in exchange for operating lease liabilities 112 7 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 October 1, 2021, the Company had the following minimum long-term commitments: Long-term commitments (in millions) Fiscal year: Remaining nine months of 2022 $ 423 2023 534 2024 306 2025 148 2026 20 Thereafter 170 Total $ 1,601

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Oct. 01, 2021
Share-based Payment Arrangement [Abstract]
Shareholders' Equity	Shareholders’ Equity Stock-based Compensation Expense The following tables present the Company’s stock-based compensation for equity-settled awards by type (i.e., stock options, 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 October 1, October 2, (in millions) RSUs and PSUs $ 67 $ 67 ESPP 9 9 Total $ 76 $ 76 Three Months Ended October 1, October 2, (in millions) Cost of revenue $ 9 $ 12 Research and development 40 39 Selling, general and administrative 27 25 Subtotal 76 76 Tax benefit (15) (11) Total $ 61 $ 65 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 stock options, 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 October 1, 2021: Unamortized Compensation Costs Weighted Average Service Period (in millions) (years) RSUs and PSUs (1) $ 755 2.8 ESPP 56 1.6 Total unamortized compensation cost $ 811 (1) Weighted average service period assumes the performance metrics are met for the PSUs. Plan Activities Stock Options The following table summarizes stock option activity under the Company’s incentive plans. All outstanding options were exercisable at October 1, 2021: Number of Shares Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life Aggregate Intrinsic Value (in millions) (in years) (in millions) Options outstanding at July 2, 2021 1.5 $ 72.84 1.2 $ 15 Exercised — 44.78 $ 1 Canceled or expired (0.4) 99.71 Options outstanding at October 1, 2021 1.1 $ 64.61 1.2 $ 7 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 July 2, 2021 16.1 $ 50.12 Granted 4.9 63.68 Vested (4.5) 53.99 $ 277 Forfeited (0.6) 52.62 RSUs and PSUs outstanding at October 1, 2021 15.9 $ 53.17 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. Stock Repurchase Program

Income Tax Expense

Income Tax Expense	3 Months Ended
	Oct. 01, 2021
Income Tax Disclosure [Abstract]
Income Tax Expense	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 fiscal 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. The following table presents the Company’s Income tax expense and the effective tax rate: Three Months Ended October 1, October 2, ($ in millions) Income (loss) before taxes $ 704 $ (3) Income tax expense 94 57 Effective tax rate 13 % (1,900) % The primary drivers of the difference between the effective tax rate for the three months ended October 1, 2021 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 fiscal years 2024 through 2031. In addition, the effective tax rate for the three months ended October 1, 2021 includes the discrete effect of an increase to unrecognized tax benefits of $16 million as a result of ongoing discussions with various taxing authorities. The primary drivers of the difference between the effective tax rate for the three months ended October 2, 2020 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, Philippines and Thailand. In addition, the effective tax rate for the three months ended October 2, 2020 includes the discrete effects of net tax deficiencies from shortfalls of $11 million related to the vesting of stock-based awards and additional tax expense of $10 million from the re-measurement of purchase accounting deferred tax liabilities due to restructuring activities. The discrete items had no impact on the amount of income taxes paid by the Company. As previously disclosed, the IRS issued statutory notices of deficiency with respect to adjustments relating to transfer pricing with the Company’s foreign subsidiaries and intercompany payable balances for fiscal years 2008 through 2009 and fiscal years 2010 through 2012. The Company filed petitions with the U.S. Tax Court with respect to the statutory notices of deficiency for fiscal years 2008 through 2009 and the fiscal years 2010 through 2012. The U.S. Tax Court consolidated the case for fiscal years 2008 through 2009 with the case for fiscal years 2010 through 2012. In May 2020, the IRS filed with the U.S. Tax Court Amendments to Answer to assert penalties totaling $340 million on the proposed adjustments relating to transfer pricing with respect to fiscal years 2008 through 2012. In June 2021, the IRS filed with the U.S. Tax Court Second Amendments to Answer to assert additional adjustments relating to transfer pricing with the Company’s foreign subsidiaries for fiscal years 2008 through 2009 and fiscal years 2010 through 2012. The Second Amendments to Answer replace the amounts asserted in the statutory notices of deficiency. With its Second Amendments to Answer, the IRS seeks to increase the Company’s U.S. taxable income by amounts that would result in additional federal income tax liabilities totaling approximately $335 million for fiscal years 2008 through 2009 and approximately $922 million for fiscal years 2010 through 2012, subject to interest and the IRS’s claim for penalties. In September 2020 and December 2020, the IRS proposed adjustments relating to transfer pricing with the Company’s foreign subsidiaries and intercompany payable balances for fiscal years 2013 through 2015 that, if sustained, would result in additional federal income tax liabilities totaling approximately $343 million for those fiscal years. In March 2021, the IRS asserted penalties totaling $109 million on the proposed adjustments relating to transfer pricing with respect to fiscal years 2013 through 2015. The Company disagrees with the proposed adjustments relating to transfer pricing and related penalties, and continues to believe that its tax positions are properly supported and will vigorously contest the position taken by the IRS. Also in March 2021, the Company and the IRS tentatively reached a basis for resolving the intercompany payable balances matter for all fiscal years at issue and the impact was not material to the Consolidated Financial Statements. The Company believes that adequate provision has been made for any adjustments that may result from tax examinations. However, the outcome of 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 October 1, 2021, 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. As of October 1, 2021, the liability for unrecognized tax benefits (excluding accrued interest and penalties) was approximately $762 million. Accrued interest and penalties related to unrecognized tax benefits as of October 1, 2021 was approximately $132 million. Of these amounts, approximately $758 million could result in potential cash payments. The Company is not able to provide a reasonable estimate of the timing of future tax payments related to these obligations.

Net Income (Loss) Per Common Sh

Net Income (Loss) Per Common Share	3 Months Ended
	Oct. 01, 2021
Earnings Per Share [Abstract]
Net Income (Loss) Per Common Share	Net Income (Loss) Per Common Share The following table presents the computation of basic and diluted income (loss) per common share: Three Months Ended October 1, October 2, (in millions, except per share data) Net income (loss) $ 610 $ (60) Weighted average shares outstanding: Basic 310 303 Employee stock options, RSUs, PSUs and ESPP 6 — Basic and diluted 316 303 Income (loss) per common share Basic $ 1.97 $ (0.20) Diluted $ 1.93 $ (0.20) Anti-dilutive potential common shares excluded 1 16 The Company computes basic income (loss) per common share using Net income (loss) and the weighted average number of common shares outstanding during the period. Diluted income (loss) per common share is computed using Net income (loss) and the weighted average number of common shares and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares include dilutive outstanding employee stock options, RSUs and PSUs, and rights to purchase shares of common stock under the Company’s ESPP. For the three months ended October 2, 2020, the Company recorded net loss, and all shares subject to outstanding equity awards have been excluded for this period because including them would be anti-dilutive.

Employee Termination, Asset Imp

Employee Termination, Asset Impairment and Other Charges	3 Months Ended
	Oct. 01, 2021
Postemployment Benefits [Abstract]
Employee Termination, Asset Impairment and Other Charges	Employee Termination, Asset Impairment and Other Charges The Company recorded the following charges related to employee termination benefits, asset impairment, and other charges: Three Months Ended October 1, October 2, (in millions) Employee termination and other charges: Business Realignment $ 15 $ 23 Total employee termination and other charges 15 23 Asset impairment: Business Realignment 3 — Total employee termination, asset impairment, and other charges $ 18 $ 23 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. The following table presents an analysis of the components of these activities against the reserve during the three months ended October 1, 2021: Employee Termination Benefits (in millions) Accrual balance at July 2, 2021 $ 2 Charges 15 Cash payments (4) Accrual balance at October 1, 2021 $ 13

Legal Proceedings

Legal Proceedings	3 Months Ended
	Oct. 01, 2021
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	Legal Proceedings Tax For disclosures regarding statutory notices of deficiency issued by the IRS on June 28, 2018 and December 10, 2018, petitions filed by the Company with the U.S. Tax Court in September 2018 and March 2019, additional penalties asserted by the IRS in March 2021 and a tentative resolution with respect to certain matters, see Note 13, 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.

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)	3 Months Ended
	Oct. 01, 2021
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 that address the evolving needs of the information technology (“IT”) industry and the infrastructure that enables the proliferation of data in virtually every other industry. The Company creates environments for data to thrive. The Company is driving the innovation needed to help customers capture, preserve, access and transform an ever-increasing diversity of data. Everywhere data lives, from advanced data centers to mobile sensors to personal devices, the Company’s industry-leading solutions deliver the possibilities of data. 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 fiscal year ended July 2, 2021. 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 fiscal year ended July 2, 2021. The results of operations for interim periods are not necessarily indicative of results to be expected for the full year.
Fiscal Year	Fiscal YearThe 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 years 2022, which ends on July 1, 2022, and 2021, which ended on July 2, 2021, are each comprised of 52 weeks, with all quarters presented consisting of 13 weeks.
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 the ongoing COVID-19 pandemic. However, actual results could differ materially from these estimates and be significantly affected by the severity and duration of the pandemic, the extent of actions to contain or treat COVID-19, the timing, distribution, efficacy and public acceptance of vaccines around the world, any possible resurgence of COVID-19, including the emergence of more contagious or vaccine-resistant variants and how quickly and to what extent normal economic and operating activity can resume.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Pronouncements Recently Adopted In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (“ASU 2019-12”). ASU 2019-12 removes certain exceptions for recognizing deferred taxes for investments, performing intraperiod allocation and calculating income taxes in interim periods. The ASU also adds guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. The Company adopted this ASU on July 3, 2021, which is the beginning of fiscal 2022, and its adoption did not have a material impact on the Company’s Condensed Consolidated Financial Statements. Recently Issued Accounting Pronouncements Not Yet Adopted In August 2020, the FASB issued ASU No. 2020-06, “Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (“ASU 2020-06”). ASU 2020-06 reduces the number of accounting models for convertible debt instruments and convertible preferred stock and results in fewer instruments with embedded conversion features being separately recognized from the host contract as compared with current standards. Those instruments that do not have a separately recognized embedded conversion feature will no longer recognize a debt issuance discount related to such a conversion feature and would recognize less interest expense on a periodic basis. Additionally, the ASU amends the calculation of the share dilution impact related to a conversion feature and eliminates the treasury method as an option. For instruments that do not have a component mandatorily settled in cash, the change will likely result in a higher amount of share dilution in the calculation of earnings per share. The Company expects to adopt this ASU in the first quarter of fiscal 2023, and is currently assessing the impact of adoption.
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.

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Oct. 01, 2021
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 October 1, October 2, (in millions) Net revenue: HDD $ 2,561 $ 1,844 Flash 2,490 2,078 Total net revenue $ 5,051 $ 3,922 Gross profit HDD $ 792 $ 483 Flash 921 548 Total gross profit for segments 1,713 1,031 Unallocated corporate items: Amortization of acquired intangible assets 39 145 Stock-based compensation expense 9 12 Charges related to a power outage incident and related recovery — (30) Total unallocated corporate items (48) (127) Consolidated gross profit $ 1,665 $ 904 Gross margin: HDD 30.9 % 26.2 % Flash 37.0 % 26.4 % Consolidated gross margin 33.0 % 23.0 %
Schedule of Disaggregation of Revenue	The Company’s disaggregated revenue information is as follows: Three Months Ended October 1, October 2, (in millions) Revenue by End Market Cloud $ 2,225 $ 1,291 Client 1,853 1,750 Consumer 973 881 Total Revenue $ 5,051 $ 3,922 Revenue by Geography Americas $ 1,614 $ 1,079 Europe, Middle East and Africa 762 629 Asia 2,675 2,214 Total Revenue $ 5,051 $ 3,922
Schedule of Goodwill	The following table provides a summary of goodwill activity for the period. HDD Flash Total (in millions) Balance at July 3, 2021 $ 4,328 $ 5,738 $ 10,066 Foreign currency translation adjustment — — — Balance at October 1, 2021 $ 4,328 $ 5,738 $ 10,066

Supplemental Financial Statem_2

Supplemental Financial Statement Data (Tables)	3 Months Ended
	Oct. 01, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Inventories	Inventories October 1, July 2, (in millions) Inventories: Raw materials and component parts $ 1,720 $ 1,623 Work-in-process 1,036 1,088 Finished goods 788 905 Total inventories $ 3,544 $ 3,616
Schedule of Property, Plant and Equipment, Net	Property, plant and equipment, net October 1, July 2, (in millions) Property, plant and equipment: Land $ 278 $ 278 Buildings and improvements 1,875 1,854 Machinery and equipment 8,102 7,860 Computer equipment and software 455 440 Furniture and fixtures 52 51 Construction-in-process 419 476 Property, plant and equipment, gross 11,181 10,959 Accumulated depreciation (7,921) (7,771) Property, plant and equipment, net $ 3,260 $ 3,188
Schedule of Intangible Assets	Intangible assets October 1, July 2, (in millions) Finite-lived intangible assets $ 5,508 $ 5,508 In-process research and development 80 80 Accumulated amortization (5,224) (5,146) Intangible assets, net $ 364 $ 442
Schedule of Product Warranty Liability	Product warranty liability Changes in the warranty accrual were as follows: Three Months Ended October 1, October 2, (in millions) Warranty accrual, beginning of period $ 363 $ 408 Charges to operations 40 35 Utilization (23) (31) Changes in estimate related to pre-existing warranties (10) (21) Warranty accrual, end of period $ 370 $ 391 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: October 1, July 2, (in millions) Warranty accrual Current portion (included in Accrued expenses) $ 175 $ 175 Long-term portion (included in Other liabilities) 195 188 Total warranty accrual $ 370 $ 363
Schedule of Other Liabilities	Other liabilities October 1, July 2, (in millions) Other liabilities: Non-current net tax payable $ 575 $ 684 Payables related to unrecognized tax benefits 758 750 Other non-current liabilities 718 633 Total other liabilities $ 2,051 $ 2,067
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table illustrates the changes in the balances of each component of AOCI: Actuarial Pension Gains (Losses) Foreign Currency Translation Adjustment Unrealized Gains (Losses) on Derivative Contracts Total Accumulated Comprehensive Income (Loss) (in millions) Balance at July 2, 2021 $ (35) $ (38) $ (124) $ (197) Other comprehensive income (loss) before reclassifications 1 4 (17) (12) Amounts reclassified from accumulated other comprehensive income — — 50 50 Income tax benefit related to items of other comprehensive income — — (8) (8) Net current-period other comprehensive income 1 4 25 30 Balance at October 1, 2021 $ (34) $ (34) $ (99) $ (167)

Fair Value Measurements and I_2

Fair Value Measurements and Investments (Tables)	3 Months Ended
	Oct. 01, 2021
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	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 October 1, 2021 and July 2, 2021, and indicate the fair value hierarchy of the valuation techniques utilized to determine such values: October 1, 2021 Level 1 Level 2 Level 3 Total (in millions) Assets: Cash equivalents - Money market funds $ 388 $ — $ — $ 388 Foreign exchange contracts — 14 — 14 Total assets at fair value $ 388 $ 14 $ — $ 402 Liabilities: Foreign exchange contracts $ — $ 47 $ — $ 47 Interest rate swap contract — 69 — 69 Total liabilities at fair value $ — $ 116 $ — $ 116 July 2, 2021 Level 1 Level 2 Level 3 Total (in millions) Assets: Cash equivalents - Money market funds $ 1,283 $ — $ — $ 1,283 Foreign exchange contracts — 14 — 14 Total assets at fair value $ 1,283 $ 14 $ — $ 1,297 Liabilities: Foreign exchange contracts $ — $ 65 $ — $ 65 Interest rate swap contract — 80 — 80 Total liabilities at fair value $ — $ 145 $ — $ 145
Schedule of Related Costs And Fair Values Based On Quoted Market Prices	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 fiscal 2022 and the fourth quarter of fiscal 2021, respectively. October 1, 2021 July 2, 2021 Carrying Fair Carrying Fair (in millions) Variable interest rate Term Loan A-1 maturing 2023 $ 4,264 $ 4,282 $ 4,327 $ 4,346 Variable interest rate Term Loan B-4 maturing 2023 943 944 1,093 1,094 1.50% convertible notes due 2024 1,025 1,112 1,017 1,173 4.75% senior unsecured notes due 2026 2,289 2,550 2,288 2,556 Total $ 8,521 $ 8,888 $ 8,725 $ 9,169

Debt (Tables)

Debt (Tables)	3 Months Ended
	Oct. 01, 2021
Debt Disclosure [Abstract]
Schedule of Debt	Debt consisted of the following as of October 1, 2021 and July 2, 2021: October 1, July 2, (in millions) Variable interest rate Term Loan A-1 maturing 2023 $ 4,269 $ 4,332 Variable interest rate Term Loan B-4 maturing 2023 943 1,093 1.50% convertible notes due 2024 1,100 1,100 4.75% senior unsecured notes due 2026 2,300 2,300 Total debt 8,612 8,825 Issuance costs and debt discounts (91) (100) Subtotal 8,521 8,725 Less current portion of long-term debt (251) (251) Long-term debt $ 8,270 $ 8,474

Pensions and Other Post-Retir_2

Pensions and Other Post-Retirement Benefit Plans (Tables)	3 Months Ended
	Oct. 01, 2021
Retirement Benefits [Abstract]
Schedule of Obligations and Funded Status	The following table presents the unfunded status of the benefit obligations for the Pension Plans: October 1, July 2, (in millions) Benefit obligation at end of period $ 359 $ 359 Fair value of plan assets at end of period 229 227 Unfunded status $ 130 $ 132
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: October 1, July 2, (in millions) Current liabilities $ 1 $ 1 Non-current liabilities 129 131 Net amount recognized $ 130 $ 132

Related Parties and Related C_2

Related Parties and Related Commitments and Contingencies (Tables)	3 Months Ended
	Oct. 01, 2021
Commitments and Contingencies Disclosure [Abstract]
Notes Receivable and Investments in Related Parties	The following table presents the notes receivable from, and equity investments in, Flash Ventures as of October 1, 2021 and July 2, 2021: October 1, July 2, (in millions) Notes receivable, Flash Partners $ 145 $ 191 Notes receivable, Flash Alliance 194 213 Notes receivable, Flash Forward 681 561 Investment in Flash Partners 201 199 Investment in Flash Alliance 294 293 Investment in Flash Forward 131 129 Total notes receivable and investments in Flash Ventures $ 1,646 $ 1,586
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 October 1, 2021, 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. October 1, (in millions) Notes receivable $ 1,020 Equity investments 626 Operating lease guarantees 1,985 Inventory and prepayments 790 Maximum estimable loss exposure $ 4,421
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 October 1, 2021. Lease Amounts (Japanese yen, in billions) (U.S. dollar, in millions) Total guarantee obligations ¥ 220 $ 1,985
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 October 1, 2021 in U.S. dollars, based upon the Japanese yen to U.S. dollar exchange rate as of October 1, 2021: Annual Installments Payment of Principal Amortization Purchase Option Exercise Price at Final Lease Terms Guarantee Amount (in millions) Remaining nine months of 2022 $ 443 $ 22 $ 465 2023 481 65 546 2024 325 117 442 2025 138 107 245 2026 91 162 253 Thereafter 4 30 34 Total guarantee obligations $ 1,482 $ 503 $ 1,985

Leases and Other Commitments (T

Leases and Other Commitments (Tables)	3 Months Ended
	Oct. 01, 2021
Leases [Abstract]
Supplemental Balance Sheet Disclosures	The following table summarizes supplemental balance sheet information related to operating leases as of October 1, 2021: Lease Amounts Minimum lease payments by fiscal year: ($ in millions) Remaining nine months of 2022 $ 33 2023 43 2024 43 2025 41 2026 42 Thereafter 187 Total future minimum lease payments 389 Less: Imputed Interest 60 Present value of lease liabilities 329 Less: Current portion (included in Accrued expenses) 35 Long-term operating lease liabilities (included in Other liabilities) $ 294 Operating lease right-of-use assets (included in Other non-current assets) $ 316 Weighted average remaining lease term in years 8.9 Weighted average discount rate 3.4 %
Supplemental Cash Flow Disclosures	The following table summarizes supplemental disclosures of operating cost and cash flow information related to operating leases: Three Months Ended October 1, October 2, (in millions) Cost of operating leases $ 13 $ 13 Cash paid for operating leases 12 12 Operating lease assets obtained in exchange for operating lease liabilities 112 7
Long-term Purchase Agreements	As of October 1, 2021, the Company had the following minimum long-term commitments: Long-term commitments (in millions) Fiscal year: Remaining nine months of 2022 $ 423 2023 534 2024 306 2025 148 2026 20 Thereafter 170 Total $ 1,601

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Oct. 01, 2021
Share-based Payment Arrangement [Abstract]
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	The following tables present the Company’s stock-based compensation for equity-settled awards by type (i.e., stock options, 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 October 1, October 2, (in millions) RSUs and PSUs $ 67 $ 67 ESPP 9 9 Total $ 76 $ 76 Three Months Ended October 1, October 2, (in millions) Cost of revenue $ 9 $ 12 Research and development 40 39 Selling, general and administrative 27 25 Subtotal 76 76 Tax benefit (15) (11) Total $ 61 $ 65
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 October 1, 2021: Unamortized Compensation Costs Weighted Average Service Period (in millions) (years) RSUs and PSUs (1) $ 755 2.8 ESPP 56 1.6 Total unamortized compensation cost $ 811 (1) Weighted average service period assumes the performance metrics are met for the PSUs.
Stock Option Activity	The following table summarizes stock option activity under the Company’s incentive plans. All outstanding options were exercisable at October 1, 2021: Number of Shares Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life Aggregate Intrinsic Value (in millions) (in years) (in millions) Options outstanding at July 2, 2021 1.5 $ 72.84 1.2 $ 15 Exercised — 44.78 $ 1 Canceled or expired (0.4) 99.71 Options outstanding at October 1, 2021 1.1 $ 64.61 1.2 $ 7
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 July 2, 2021 16.1 $ 50.12 Granted 4.9 63.68 Vested (4.5) 53.99 $ 277 Forfeited (0.6) 52.62 RSUs and PSUs outstanding at October 1, 2021 15.9 $ 53.17

Income Tax Expense (Tables)

Income Tax Expense (Tables)	3 Months Ended
	Oct. 01, 2021
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 October 1, October 2, ($ in millions) Income (loss) before taxes $ 704 $ (3) Income tax expense 94 57 Effective tax rate 13 % (1,900) %

Net Income (Loss) Per Common _2

Net Income (Loss) Per Common Share (Tables)	3 Months Ended
	Oct. 01, 2021
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 October 1, October 2, (in millions, except per share data) Net income (loss) $ 610 $ (60) Weighted average shares outstanding: Basic 310 303 Employee stock options, RSUs, PSUs and ESPP 6 — Basic and diluted 316 303 Income (loss) per common share Basic $ 1.97 $ (0.20) Diluted $ 1.93 $ (0.20) Anti-dilutive potential common shares excluded 1 16

Employee Termination, Asset I_2

Employee Termination, Asset Impairment and Other Charges (Tables)	3 Months Ended
	Oct. 01, 2021
Postemployment Benefits [Abstract]
Schedule of Restructuring Reserve by Type of Cost	The Company recorded the following charges related to employee termination benefits, asset impairment, and other charges: Three Months Ended October 1, October 2, (in millions) Employee termination and other charges: Business Realignment $ 15 $ 23 Total employee termination and other charges 15 23 Asset impairment: Business Realignment 3 — Total employee termination, asset impairment, and other charges $ 18 $ 23 The following table presents an analysis of the components of these activities against the reserve during the three months ended October 1, 2021: Employee Termination Benefits (in millions) Accrual balance at July 2, 2021 $ 2 Charges 15 Cash payments (4) Accrual balance at October 1, 2021 $ 13

Segment Reporting (Details)

Segment Reporting (Details) $ in Millions	3 Months Ended
	Oct. 01, 2021USD ($)segment	Oct. 02, 2020USD ($)segment
Segment Reporting [Abstract]
Number of product business units | segment	2	1
Number of reportable segments | segment	2	1
Segment Reporting Information [Line Items]
Revenue, net	$ 5,051	$ 3,922
Gross profit	1,665	904
Stock-based compensation	76	76
Total operating expenses	887	834
Gross profit	$ 1,665	$ 904
Gross margin	33.00%	23.00%
Operating Segments
Segment Reporting Information [Line Items]
Revenue, net	$ 5,051	$ 3,922
Gross profit	1,713	1,031
Gross profit	1,713	1,031
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Amortization of acquired intangible assets	39	145
Stock-based compensation	9	12
Charges related to a power outage incident and related recovery	0	(30)
Total operating expenses	$ (48)	$ (127)
HDD
Segment Reporting Information [Line Items]
Gross margin	30.90%	26.20%
HDD | Operating Segments
Segment Reporting Information [Line Items]
Revenue, net	$ 2,561	$ 1,844
Gross profit	792	483
Gross profit	$ 792	$ 483
Flash
Segment Reporting Information [Line Items]
Gross margin	37.00%	26.40%
Flash | Operating Segments
Segment Reporting Information [Line Items]
Revenue, net	$ 2,490	$ 2,078
Gross profit	921	548
Gross profit	$ 921	$ 548

Segment Information - Disaggreg

Segment Information - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Disaggregation of Revenue [Line Items]
Revenue, net	$ 5,051	$ 3,922
Americas
Disaggregation of Revenue [Line Items]
Revenue, net	1,614	1,079
Europe, Middle East and Africa
Disaggregation of Revenue [Line Items]
Revenue, net	762	629
Asia
Disaggregation of Revenue [Line Items]
Revenue, net	2,675	2,214
Cloud
Disaggregation of Revenue [Line Items]
Revenue, net	2,225	1,291
Client
Disaggregation of Revenue [Line Items]
Revenue, net	1,853	1,750
Consumer
Disaggregation of Revenue [Line Items]
Revenue, net	$ 973	$ 881

Segment Information - Additiona

Segment Information - Additional Information (Details)	3 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Revenue from Contract with Customer | Customer Concentration Risk | Top Ten Customers
Concentration Risk [Line Items]
Concentration risk, percentage	43.00%	44.00%

Segment Information - Goodwill

Segment Information - Goodwill Rollforward (Details) $ in Millions	3 Months Ended
	Oct. 01, 2021USD ($)
Segment Reporting Information [Line Items]
Balance at July 3, 2021	$ 10,066
Foreign currency translation adjustment	0
Balance at October 1, 2021	10,066
HDD
Segment Reporting Information [Line Items]
Balance at July 3, 2021	4,328
Foreign currency translation adjustment	0
Balance at October 1, 2021	4,328
Flash
Segment Reporting Information [Line Items]
Balance at July 3, 2021	5,738
Foreign currency translation adjustment	0
Balance at October 1, 2021	$ 5,738

Revenues - Revenue Remaining Pe

Revenues - Revenue Remaining Performance Obligation (Details) $ in Millions	Oct. 01, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 61
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 30
Revenue, remaining performance obligation, amount	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 30
Revenue, remaining performance obligation, amount	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 1
Revenue, remaining performance obligation, amount

Supplemental Financial Statem_3

Supplemental Financial Statement Data - Additional Information (Details) - USD ($)	3 Months Ended
	Oct. 02, 2020	Oct. 01, 2021	Jul. 02, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Proceeds on sale of trade accounts receivable	$ 128,000,000
Factored receivables outstanding		$ 0	$ 0

Supplemental Financial Statem_4

Supplemental Financial Statement Data - Inventory (Details) - USD ($) $ in Millions	Oct. 01, 2021	Jul. 02, 2021
Inventories:
Raw materials and component parts	$ 1,720	$ 1,623
Work-in-process	1,036	1,088
Finished goods	788	905
Total inventories	$ 3,544	$ 3,616

Supplemental Financial Statem_5

Supplemental Financial Statement Data - Property, Plant and Equipment (Details) - USD ($) $ in Millions	Oct. 01, 2021	Jul. 02, 2021
Property, plant and equipment:
Property, plant and equipment, gross	$ 11,181	$ 10,959
Accumulated depreciation	(7,921)	(7,771)
Property, plant and equipment, net	3,260	3,188
Land
Property, plant and equipment:
Property, plant and equipment, gross	278	278
Buildings and improvements
Property, plant and equipment:
Property, plant and equipment, gross	1,875	1,854
Machinery and equipment
Property, plant and equipment:
Property, plant and equipment, gross	8,102	7,860
Computer equipment and software
Property, plant and equipment:
Property, plant and equipment, gross	455	440
Furniture and fixtures
Property, plant and equipment:
Property, plant and equipment, gross	52	51
Construction-in-process
Property, plant and equipment:
Property, plant and equipment, gross	$ 419	$ 476

Supplemental Financial Statem_6

Supplemental Financial Statement Data - Intangible Assets (Details) - USD ($) $ in Millions	Oct. 01, 2021	Jul. 02, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Finite-lived intangible assets	$ 5,508	$ 5,508
In-process research and development	80	80
Accumulated amortization	(5,224)	(5,146)
Intangible assets, net	$ 364	$ 442

Supplemental Financial Statem_7

Supplemental Financial Statement Data - Warranty Accrual Roll Forward (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty accrual, beginning of period	$ 363	$ 408
Charges to operations	40	35
Utilization	(23)	(31)
Changes in estimate related to pre-existing warranties	(10)	(21)
Warranty accrual, end of period	$ 370	$ 391

Supplemental Financial Statem_8

Supplemental Financial Statement Data - Total Warranty Accrual (Details) - USD ($) $ in Millions	Oct. 01, 2021	Jul. 02, 2021	Oct. 02, 2020	Jul. 03, 2020
Warranty accrual
Current portion (included in Accrued expenses)	$ 175	$ 175
Long-term portion (included in Other liabilities)	195	188
Total warranty accrual	$ 370	$ 363	$ 391	$ 408

Supplemental Financial Statem_9

Supplemental Financial Statement Data - Other Liabilities (Details) - USD ($) $ in Millions	Oct. 01, 2021	Jul. 02, 2021
Other liabilities:
Non-current net tax payable	$ 575	$ 684
Payables related to unrecognized tax benefits	758	750
Other non-current liabilities	718	633
Total other liabilities	$ 2,051	$ 2,067

Supplemental Financial State_10

Supplemental Financial Statement Data - Accumulated Other Comprehensive Income Roll Forward (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 10,721	$ 9,551
Other comprehensive income (loss) before reclassifications	(12)
Amounts reclassified from accumulated other comprehensive income	50
Income tax benefit (expense) related to items of other comprehensive income (loss)	(8)	(7)
Other comprehensive income, net of tax	30	56
Ending balance	11,361	9,576
Amounts reclassified out of AOCI, losses related to foreign exchange contracts	37
Losses related to interest rate swap contracts charged to Interest expense	12
Unrealized loss expected to be reclassified into earnings	19
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(38)
Other comprehensive income (loss) before reclassifications	4
Amounts reclassified from accumulated other comprehensive income	0
Income tax benefit (expense) related to items of other comprehensive income (loss)	0
Other comprehensive income, net of tax	4
Ending balance	(34)
Unrealized Gains (Losses) on Derivative Contracts
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(124)
Other comprehensive income (loss) before reclassifications	(17)
Amounts reclassified from accumulated other comprehensive income	50
Income tax benefit (expense) related to items of other comprehensive income (loss)	(8)
Other comprehensive income, net of tax	25
Ending balance	(99)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(197)	(157)
Ending balance	(167)	$ (101)
Actuarial Pension Gains (Losses)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(35)
Other comprehensive income (loss) before reclassifications	1
Amounts reclassified from accumulated other comprehensive income	0
Income tax benefit (expense) related to items of other comprehensive income (loss)	0
Other comprehensive income, net of tax	1
Ending balance	$ (34)

Fair Value Measurements and I_3

Fair Value Measurements and Investments - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Oct. 01, 2021	Jul. 02, 2021
Assets:
Total assets at fair value	$ 402	$ 1,297
Liabilities:
Total liabilities at fair value	116	145
Cash equivalents - Money market funds
Assets:
Cash equivalents - Money market funds	388	1,283
Foreign exchange contracts
Assets:
Foreign exchange contracts	14	14
Liabilities:
Derivative liability	47	65
Interest rate swap contracts
Liabilities:
Derivative liability	69	80
Level 1
Assets:
Total assets at fair value	388	1,283
Liabilities:
Total liabilities at fair value	0	0
Level 1 | Cash equivalents - Money market funds
Assets:
Cash equivalents - Money market funds	388	1,283
Level 1 | Foreign exchange contracts
Assets:
Foreign exchange contracts	0	0
Liabilities:
Derivative liability	0	0
Level 1 | Interest rate swap contracts
Liabilities:
Derivative liability	0	0
Level 2
Assets:
Total assets at fair value	14	14
Liabilities:
Total liabilities at fair value	116	145
Level 2 | Cash equivalents - Money market funds
Assets:
Cash equivalents - Money market funds	0	0
Level 2 | Foreign exchange contracts
Assets:
Foreign exchange contracts	14	14
Liabilities:
Derivative liability	47	65
Level 2 | Interest rate swap contracts
Liabilities:
Derivative liability	69	80
Level 3
Assets:
Total assets at fair value	0	0
Liabilities:
Total liabilities at fair value	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
Liabilities:
Derivative liability	0	0
Level 3 | Interest rate swap contracts
Liabilities:
Derivative liability	$ 0	$ 0

Fair Value Measurements and I_4

Fair Value Measurements and Investments - Debt Instrument Fair Value (Details) - USD ($) $ in Millions	Oct. 01, 2021	Jul. 02, 2021
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%
Carrying Value
Debt Instrument [Line Items]
Long-term debt	$ 8,521	$ 8,725
Carrying Value | Variable interest rate Term Loan A-1 maturing 2023
Debt Instrument [Line Items]
Long-term debt	4,264	4,327
Carrying Value | Variable interest rate Term Loan B-4 maturing 2023
Debt Instrument [Line Items]
Long-term debt	943	1,093
Carrying Value | 1.50% convertible notes due 2024
Debt Instrument [Line Items]
Long-term debt	1,025	1,017
Carrying Value | 4.75% senior unsecured notes due 2026
Debt Instrument [Line Items]
Long-term debt	2,289	2,288
Level 2 | Fair Value
Debt Instrument [Line Items]
Long-term debt	8,888	9,169
Level 2 | Fair Value | Variable interest rate Term Loan A-1 maturing 2023
Debt Instrument [Line Items]
Long-term debt	4,282	4,346
Level 2 | Fair Value | Variable interest rate Term Loan B-4 maturing 2023
Debt Instrument [Line Items]
Long-term debt	944	1,094
Level 2 | Fair Value | 1.50% convertible notes due 2024
Debt Instrument [Line Items]
Long-term debt	1,112	1,173
Level 2 | Fair Value | 4.75% senior unsecured notes due 2026
Debt Instrument [Line Items]
Long-term debt	$ 2,550	$ 2,556

Derivatives Instruments and H_2

Derivatives Instruments and Hedging Activities (Details)	3 Months Ended
	Oct. 01, 2021
Foreign Exchange Forward Contracts Designated
Derivatives, Fair Value [Line Items]
Derivative, term of contract (to not exceed)	12 months

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Oct. 01, 2021	Jul. 02, 2021
Debt Instrument [Line Items]
Debt	$ 8,612	$ 8,825
Issuance costs and debt discounts	(91)	(100)
Subtotal	8,521	8,725
Less current portion of long-term debt	(251)	(251)
Long-term debt	8,270	8,474
Variable interest rate Term Loan A-1 maturing 2023
Debt Instrument [Line Items]
Debt	4,269	4,332
Variable interest rate Term Loan B-4 maturing 2023
Debt Instrument [Line Items]
Debt	$ 943	$ 1,093
4.75% senior unsecured notes due 2026
Debt Instrument [Line Items]
Debt instrument, interest rate (percentage)	4.75%	4.75%
Debt	$ 2,300	$ 2,300
Convertible Debt | 1.50% convertible notes due 2024
Debt Instrument [Line Items]
Debt instrument, interest rate (percentage)	1.50%	1.50%
Debt	$ 1,100	$ 1,100

Debt - Additional Information (

Debt - Additional Information (Details) - USD ($) $ in Millions	Oct. 22, 2021	Oct. 01, 2021	Oct. 02, 2020
Debt Instrument [Line Items]
Repayment of debt		$ 213	$ 213
Variable interest rate Term Loan B-4 maturing 2023
Debt Instrument [Line Items]
Repayment of debt		$ 150
Variable interest rate Term Loan B-4 maturing 2023 | Subsequent Event
Debt Instrument [Line Items]
Repayment of debt	$ 943

Pensions and Other Post-Retir_3

Pensions and Other Post-Retirement Benefit Plans - Additional Information (Details)	3 Months Ended
	Oct. 01, 2021
Retirement Benefits [Abstract]
Expected long-term rate of return on plan assets	2.50%

Pensions and Other Post-Retir_4

Pensions and Other Post-Retirement Benefit Plans - Obligations and Funded Status (Details) - USD ($) $ in Millions	Oct. 01, 2021	Jul. 02, 2021
Retirement Benefits [Abstract]
Benefit obligation at end of period	$ 359	$ 359
Fair value of plan assets at end of period	229	227
Unfunded status	$ 130	$ 132

Pensions and Other Post-Retir_5

Pensions and Other Post-Retirement Benefit Plans - Unfunded Amounts Recognized on Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Oct. 01, 2021	Jul. 02, 2021
Retirement Benefits [Abstract]
Current liabilities	$ 1	$ 1
Non-current liabilities	129	131
Net amount recognized	$ 130	$ 132

Related Parties and Related C_3

Related Parties and Related Commitments and Contingencies - Equity Investments (Details) - USD ($) $ in Millions	Oct. 01, 2021	Jul. 02, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes receivable and investments in Flash Ventures	$ 1,646	$ 1,586
Flash Partners Ltd
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, related parties	145	191
Investments	201	199
Flash Alliance Ltd
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, related parties	194	213
Investments	294	293
Flash Forward Ltd
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, related parties	681	561
Investments	131	129
Flash Ventures
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes receivable and investments in Flash Ventures	$ 1,646	$ 1,586

Related Parties and Related C_4

Related Parties and Related Commitments and Contingencies - Additional Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Oct. 01, 2021USD ($)entity	Oct. 02, 2020USD ($)	Jan. 01, 2021	Jul. 02, 2021USD ($)
Guarantor Obligations [Line Items]
Number of legal entities | entity	3
Accounts payable to related parties	$ 378			$ 398
Investment funding commitments	50.00%
Insurance recovery recorded in Cost of revenue		$ 30
Western Digital Corp | Minimum
Guarantor Obligations [Line Items]
Investment funding commitments	49.90%
Western Digital Corp | Maximum
Guarantor Obligations [Line Items]
Investment funding commitments	50.00%
Flash Ventures
Guarantor Obligations [Line Items]
Investments in Flash Ventures	$ 1,190	$ 981
Accounts payable to related parties	$ 378			$ 398
Unis Venture
Guarantor Obligations [Line Items]
Equity method investment, ownership percentage	49.00%
Unissoft (Wuxi) Group Co Ltd. | Unis Venture
Guarantor Obligations [Line Items]
Partner's ownership in venture business	51.00%
Revenue from Contract with Customer | Unis Venture | Product Concentration Risk
Guarantor Obligations [Line Items]
Concentration risk, percentage	5.00%	2.00%
Accounts Receivable Benchmark | Product Concentration Risk | Unis Venture
Guarantor Obligations [Line Items]
Concentration risk, percentage	7.00%		6.00%

Related Parties and Related C_5

Related Parties and Related Commitments and Contingencies - Maximum Loss Exposure (Details) - Oct. 01, 2021 - Flash Ventures $ in Millions, ¥ in Billions	USD ($)	JPY (¥)
Guarantor Obligations [Line Items]
VIE, reporting entity involvement, maximum loss exposure, amount	$ 4,421
Notes receivable
Guarantor Obligations [Line Items]
VIE, reporting entity involvement, maximum loss exposure, amount	1,020
Equity investments
Guarantor Obligations [Line Items]
VIE, reporting entity involvement, maximum loss exposure, amount	626
Operating lease guarantees
Guarantor Obligations [Line Items]
Operating lease guarantees	1,985	¥ 220
Inventory and prepayments
Guarantor Obligations [Line Items]
Inventory and prepayments	$ 790

Related Parties and Related C_6

Related Parties and Related Commitments and Contingencies - JV Lease Guarantees (Details) - Oct. 01, 2021 $ in Millions, ¥ in Billions	USD ($)	JPY (¥)
Operating lease guarantees | Flash Ventures
Loss Contingencies [Line Items]
Total guarantee obligations	$ 1,985	¥ 220

Related Parties and Related C_7

Related Parties and Related Commitments and Contingencies - Joint Venture Lease Amounts (Details) - Flash Ventures $ in Millions	Oct. 01, 2021USD ($)
Guarantor Obligations [Line Items]
Remaining nine months of 2022	$ 465
2023	546
2024	442
2025	245
2026	253
Thereafter	34
Total guarantee obligations	1,985
Payment of Principal Amortization
Guarantor Obligations [Line Items]
Remaining nine months of 2022	443
2023	481
2024	325
2025	138
2026	91
Thereafter	4
Total guarantee obligations	1,482
Purchase Option Exercise Price at Final Lease Terms
Guarantor Obligations [Line Items]
Remaining nine months of 2022	22
2023	65
2024	117
2025	107
2026	162
Thereafter	30
Total guarantee obligations	$ 503

Leases and Other Commitments -

Leases and Other Commitments - Supplemental Balance Sheet (Details) $ in Millions	Oct. 01, 2021USD ($)
Minimum lease payments by fiscal year:
Remaining nine months of 2022	$ 33
2023	43
2024	43
2025	41
2026	42
Thereafter	187
Total future minimum lease payments	389
Less: Imputed Interest	60
Present value of lease liabilities	329
Less: Current portion (included in Accrued expenses)	35
Long-term operating lease liabilities (included in Other liabilities)	294
Operating lease right-of-use assets (included in Other non-current assets)	$ 316
Weighted average remaining lease term in years	8 years 10 months 24 days
Weighted average discount rate	3.40%

Leases and Other Commitments _2

Leases and Other Commitments - Supplemental Cash Flow (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Leases [Abstract]
Cost of operating leases	$ 13	$ 13
Cash paid for operating leases	12	12
Operating lease assets obtained in exchange for operating lease liabilities	$ 112	$ 7

Leases and Other Commitments _3

Leases and Other Commitments - Long-Term Commitments (Details) $ in Millions	Oct. 01, 2021USD ($)
Fiscal year:
Remaining nine months of 2022	$ 423
2023	534
2024	306
2025	148
2026	20
Thereafter	170
Total	$ 1,601

Shareholders' Equity - Stock-Ba

Shareholders' Equity - Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation	$ 76	$ 76
Tax benefit	(15)	(11)
Total	61	65
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation	9	12
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation	40	39
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation	27	25
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation	67	67
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation	$ 9	$ 9

Shareholders' Equity - Unrecogn

Shareholders' Equity - Unrecognized Share-based Compensation (Details) $ in Millions	3 Months Ended
	Oct. 01, 2021USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized Compensation Costs	$ 811
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized Compensation Costs	$ 755
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	$ 56
Weighted Average Service Period	1 year 7 months 6 days

Shareholders' Equity - Stock Op

Shareholders' Equity - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Oct. 01, 2021	Jul. 02, 2021	Oct. 01, 2021
Number of Shares
Options outstanding, beginning balance (in shares)			1.5
Exercised (in shares)			0
Canceled or expired (in shares)			(0.4)
Options outstanding, ending balance (in shares)	1.1	1.5	1.1
Weighted Average Exercise Price Per Share
Options outstanding, beginning balance, exercise price (in dollars per share)			$ 72.84
Exercised, exercise price (in dollars per share)			44.78
Canceled or expired, exercise price (in dollars per share)			99.71
Options outstanding, ending balance, exercise price (in dollars per share)	$ 64.61	$ 72.84	64.61
Exercisable, period end, exercise price, in dollars per share	$ 64.61		$ 64.61
Options outstanding, weighted average remaining contractual term	1 year 2 months 12 days	1 year 2 months 12 days
Aggregate Intrinsic Value
Options outstanding, beginning balance, intrinsic value			$ 15
Exercised, intrinsic value			1
Options outstanding, ending balance, intrinsic value	$ 7	$ 15	$ 7

Shareholders' Equity - Restrict

Shareholders' Equity - 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
	Oct. 01, 2021USD ($)$ / sharesshares
Number of Shares
Outstanding, beginning balance (in shares) | shares	16.1
Granted (in shares) | shares	4.9
Vested (in shares) | shares	(4.5)
Forfeited (in shares) | shares	(0.6)
Outstanding, ending balance (in shares) | shares	15.9
Weighted Average Grant Date Fair Value
Outstanding, beginning balance, grant date fair value (in dollars per share) | $ / shares	$ 50.12
Granted, grant date fair value (in dollars per share) | $ / shares	63.68
Vested, grant date fair value (in dollars per share) | $ / shares	53.99
Forfeited, grant date fair value (in dollars per share) | $ / shares	52.62
Outstanding, ending balance, grant date fair value (in dollars per share) | $ / shares	$ 53.17
Aggregate value of restricted stock awards vested | $	$ 277

Shareholders' Equity - Share Re

Shareholders' Equity - Share Repurchase Program (Details) $ in Billions	Oct. 01, 2021USD ($)
Stock Repurchase Program Effective Until July 25, 2023
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, number of shares authorized to be repurchased	$ 5
Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, remaining authorized repurchase, amount	$ 4.5

Income Tax Expense - Tax Expens

Income Tax Expense - Tax Expense and Effective Tax Rate (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Income Tax Disclosure [Abstract]
Income (loss) before taxes	$ 704	$ (3)
Income tax expense	$ 94	$ 57
Effective tax rate	13.00%	(1900.00%)

Income Tax Expense - Additional

Income Tax Expense - Additional Information (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended
	Mar. 31, 2021	May 31, 2020	Oct. 01, 2021	Jul. 02, 2021
Income Tax Disclosure [Line Items]
Increase to unrecognized tax benefits as a result of ongoing discussions with various taxing authorities			$ 16
Net tax deficiencies			11
Additional tax expense from re-measurement of deferred tax liabilities			10
Unrecognized tax benefits			762
Penalties and interest accrued on unrecognized tax benefits			132
Potential payables related to unrecognized tax benefits			758
Tax Year 2008 Through 2009
Income Tax Disclosure [Line Items]
Federal tax related to adjustments for transfer pricing			335
Tax Years 2010 Through 2012
Income Tax Disclosure [Line Items]
Federal tax related to adjustments for transfer pricing			$ 922
Internal Revenue Service (IRS) | Tax Years 2008 Through 2012
Income Tax Disclosure [Line Items]
Federal tax, subject to interest		$ 340
Internal Revenue Service (IRS) | Tax Years 2013 Through 2015
Income Tax Disclosure [Line Items]
Additional tax				$ 343
Penalties asserted	$ 109

Net Income (Loss) Per Common _3

Net Income (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Earnings Per Share [Abstract]
Net income (loss)	$ 610	$ (60)
Weighted average shares outstanding:
Basic (in shares)	310	303
Employee stock options, RSUs, PSUs, ESPP (in shares)	6	0
Basic and diluted (in shares)	316	303
Income (loss) per common share
Basic (in dollars per share)	$ 1.97	$ (0.20)
Diluted (in dollars per share)	$ 1.93	$ (0.20)
Anti-dilutive potential common shares excluded (in shares)	1	16

Employee Termination, Asset I_3

Employee Termination, Asset Impairment and Other Charges - Expense Recognition (Details) - USD ($) $ in Millions	3 Months Ended
	Oct. 01, 2021	Oct. 02, 2020
Restructuring Cost and Reserve [Line Items]
Employee termination and other charges:	$ 15	$ 23
Total employee termination, asset impairment, and other charges	18	23
Business Realignment
Restructuring Cost and Reserve [Line Items]
Employee termination and other charges:	15	23
Asset impairment	$ 3	$ 0

Employee Termination, Asset I_4

Employee Termination, Asset Impairment and Other Charges - Business Realignment Activities (Details) - Employee Termination Benefits - Business Realignment $ in Millions	3 Months Ended
	Oct. 01, 2021USD ($)
Restructuring Reserve [Roll Forward]
Accrual balance at July 2, 2021	$ 2
Charges	15
Cash payments	(4)
Accrual balance at October 1, 2021	$ 13