Seagate Technology (STX) 10-Q 29 Apr 21 2021 Q3 Quarterly report Financial data

Cover page

Cover page - shares	9 Months Ended
	Apr. 02, 2021	Apr. 26, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 2, 2021
Document Transition Report	false
Entity File Number	001-31560
Entity Incorporation, State or Country Code	L2
Entity Tax Identification Number	98-0648577
Entity Address, Address Line One	38/39 Fitzwilliam Square
Entity Address, City or Town	Dublin 2
Entity Address, Country	IE
Entity Address, Postal Zip Code	D02 NX53
City Area Code	(353) (1)
Local Phone Number	234-3136
Title of 12(b) Security	Ordinary Shares, par value $0.00001 per share
Trading Symbol	STX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		228,873,365
Entity Registrant Name	Seagate Technology plc
Entity Central Index Key	0001137789
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--07-02

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Apr. 02, 2021	Jul. 03, 2020
Current assets:
Cash and cash equivalents	$ 1,212,000,000	$ 1,722,000,000
Accounts receivable, net	978,000,000	1,115,000,000
Inventories	1,281,000,000	1,142,000,000
Other current assets	221,000,000	135,000,000
Total current assets	3,692,000,000	4,114,000,000
Property, equipment and leasehold improvements, net	2,215,000,000	2,129,000,000
Goodwill	1,237,000,000	1,237,000,000
Other intangible assets, net	35,000,000	58,000,000
Deferred Income Tax Assets, Net	1,118,000,000	1,120,000,000
Other assets, net	307,000,000	272,000,000
Total Assets	8,604,000,000	8,930,000,000
Current liabilities:
Accounts payable	1,861,000,000	1,808,000,000
Accrued employee compensation	178,000,000	224,000,000
Accrued warranty	60,000,000	69,000,000
Accrued expenses	649,000,000	602,000,000
Total current liabilities	2,993,000,000	2,722,000,000
Long-term accrued warranty	74,000,000	82,000,000
Other non-current liabilities	156,000,000	183,000,000
Long-term Debt, Excluding Current Maturities	4,897,000,000	4,156,000,000
Total Liabilities	8,120,000,000	7,143,000,000
Shareholders’ Equity:
Ordinary shares and additional paid-in capital	6,939,000,000	6,757,000,000
Accumulated other comprehensive loss	(38,000,000)	(66,000,000)
Accumulated deficit	(6,417,000,000)	(4,904,000,000)
Total Equity	484,000,000	1,787,000,000
Total Liabilities and Equity	8,604,000,000	8,930,000,000
Less: current portion of debt, net of debt issuance costs	$ 245,000,000	$ 19,000,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Apr. 02, 2021	Apr. 03, 2020	Apr. 02, 2021	Apr. 03, 2020
Income Statement [Abstract]
Revenue	$ 2,731	$ 2,718	$ 7,668	$ 7,992
Cost of revenue	1,991	1,972	5,636	5,817
Product development	227	246	671	751
Marketing and administrative	126	119	366	361
Amortization of intangibles	3	3	9	11
Restructuring and other, net	(2)	2	1	19
Total operating expenses	2,345	2,342	6,683	6,959
Income from operations	386	376	985	1,033
Interest income	1	4	2	19
Interest expense	(59)	(49)	(161)	(152)
Other Nonoperating Income (Expense)	11	7	25	(28)
Other expense, net	(47)	(38)	(134)	(161)
Income before income taxes	339	338	851	872
Provision for income taxes	10	18	19	34
Net income	$ 329	$ 320	$ 832	$ 838
Net income per share:
Basic (in dollars per share)	$ 1.41	$ 1.23	$ 3.38	$ 3.19
Diluted (in dollars per share)	$ 1.39	$ 1.22	$ 3.34	$ 3.15
Number of shares used in per share calculations:
Basic (in shares)	233	261	246	263
Diluted (in shares)	237	263	249	266
Cash dividends declared per ordinary share (in dollars per share)	$ 0.67	$ 0.65	$ 1.99	$ 1.93

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 02, 2021	Apr. 03, 2020	Apr. 02, 2021	Apr. 03, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 329	$ 320	$ 832	$ 838
Change in net unrealized loss on cash flow hedges:
Net unrealized gains (losses) arising during the period	4	(29)		(27)
Gains reclassified into earnings	(7)	(1)		0
Net change	(3)	(30)	11	(27)
Change in unrealized components of post-retirement plans:
Net unrealized gains arising during the period	1	2		2
Losses reclassified into earnings	0	0		0
Net change	1	2	2	2
Foreign currency translation adjustments
Foreign currency translation adjustments	0	(6)	15	(8)
Other comprehensive income	(2)	(34)	28	(33)
Comprehensive income	$ 327	$ 286	$ 860	$ 805

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
OPERATING ACTIVITIES
Net income	$ 832	$ 838
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	294	279
Share-based compensation	87	80
Deferred income taxes	(7)	3
Other non-cash operating activities, net	(8)	55
Changes in operating assets and liabilities:
Accounts receivable, net	138	(172)
Inventories	(141)	(126)
Accounts payable	60	424
Accrued employee compensation	(46)	(14)
Accrued expenses, income taxes and warranty	0	(18)
Other assets and liabilities	(61)	(23)
Net cash provided by operating activities	1,148	1,326
INVESTING ACTIVITIES
Acquisition of property, equipment and leasehold improvements	(374)	(471)
Proceeds from sale of investments	11	0
Proceeds from the sale of assets	4	1
Purchases of investments	(4)	(57)
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale	3	0
Net cash used in investing activities	(360)	(527)
FINANCING ACTIVITIES
Redemption and repurchase of debt	(27)	(685)
Dividends to shareholders	(495)	(505)
Repurchases of ordinary shares	(1,819)	(795)
Taxes paid related to net share settlement of equity awards	(33)	(39)
Proceeds from issuance of long-term debt	1,000	498
Proceeds from issuance of ordinary shares under employee share plans	95	100
Net cash used in financing activities	(1,298)	(1,428)
Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash	0	(8)
Decrease in cash, cash equivalents and restricted cash	(510)	(637)
Cash, cash equivalents and restricted cash at the beginning of the period	1,724	2,251
Cash, cash equivalents and restricted cash at the end of the period	1,214	1,614
Proceeds from (Payments for) Other Financing Activities	$ (19)	$ (2)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]	Accumulated Deficit [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]
Beginning balance (in shares) at Jun. 28, 2019			269
Beginning balance at Jun. 28, 2019	$ 2,162	$ (2)	$ 0	$ 6,545	$ (34)	$ (4,349)	$ (2)
Increase (Decrease) in Stockholders' Equity
Net income	838
Ending balance (in shares) at Apr. 03, 2020			257
Ending balance at Apr. 03, 2020	1,792		$ 0	6,725	(67)	(4,866)
Beginning balance (in shares) at Jan. 03, 2020			261
Beginning balance at Jan. 03, 2020	1,830		$ 0	6,667	(33)	(4,804)
Increase (Decrease) in Stockholders' Equity
Net income	320					320
Other comprehensive loss	(34)				(34)
Issuance of ordinary shares under employee stock plans (In shares)			1
Issuance of ordinary shares under employee share plans	31			31
Repurchases of ordinary shares (in shares)			(5)
Repurchases of ordinary shares	(214)					$ (214)
Tax withholding related to vesting of restricted stock units (in shares)						0
Tax withholding related to vesting of restricted share units	0					$ 0
Dividends to shareholders	(168)					(168)
Share-based compensation	27			27
Ending balance (in shares) at Apr. 03, 2020			257
Ending balance at Apr. 03, 2020	1,792		$ 0	6,725	(67)	(4,866)
Increase (Decrease) in Stockholders' Equity
Issuance of ordinary shares under employee stock plans (In shares)			1
Beginning balance (in shares) at Jul. 03, 2020			257
Beginning balance at Jul. 03, 2020	1,787		$ 0	6,757	(66)	(4,904)
Increase (Decrease) in Stockholders' Equity
Net income	832					832
Other comprehensive loss	$ 28				28
Issuance of ordinary shares under employee stock plans (In shares)			4
Issuance of ordinary shares under employee share plans				95
Repurchases of ordinary shares (in shares)	(30)		(30)
Repurchases of ordinary shares	$ (1,830)					$ (1,830)
Tax withholding related to vesting of restricted stock units (in shares)	(1)					(1)
Tax withholding related to vesting of restricted share units	$ (33)					$ (33)
Dividends to shareholders	(482)					(482)
Share-based compensation	87			87
Ending balance (in shares) at Apr. 02, 2021			230
Ending balance at Apr. 02, 2021	484		$ 0	6,939	(38)	(6,417)
Increase (Decrease) in Stockholders' Equity
Issuance of ordinary shares under employee stock plans (In shares)			4
Beginning balance (in shares) at Jan. 01, 2021			240
Beginning balance at Jan. 01, 2021	990		$ 0	6,855	(36)	(5,829)
Increase (Decrease) in Stockholders' Equity
Net income	329					329
Other comprehensive loss	(2)				(2)
Issuance of ordinary shares under employee stock plans (In shares)			1
Issuance of ordinary shares under employee share plans	55			55
Repurchases of ordinary shares (in shares)			(11)
Repurchases of ordinary shares	(762)					$ (762)
Tax withholding related to vesting of restricted stock units (in shares)						0
Tax withholding related to vesting of restricted share units	(1)					$ (1)
Dividends to shareholders	(154)					(154)
Share-based compensation	29			29
Ending balance (in shares) at Apr. 02, 2021			230
Ending balance at Apr. 02, 2021	$ 484		$ 0	$ 6,939	$ (38)	$ (6,417)
Increase (Decrease) in Stockholders' Equity
Issuance of ordinary shares under employee stock plans (In shares)			1

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Apr. 02, 2021
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies Organization Seagate Technology plc (“STX”) and its subsidiaries (collectively, unless the context otherwise indicates, the “Company”) is a leading provider of data storage technology and solutions. Its principal products are hard disk drives, commonly referred to as disk drives, hard drives or HDDs. In addition to HDDs, the Company produces a broad range of data storage products including solid state drives (“SSDs”), solid state hybrid drives (“SSHDs”) and storage subsystems. HDDs are devices that store digitally encoded data on rapidly rotating disks with magnetic surfaces. HDDs continue to be the primary medium of mass data storage due to their performance attributes, reliability, high quality and cost effectiveness. Complementing existing storage architectures, SSDs use integrated circuit assemblies as memory to store data, and most SSDs use NAND flash memory. In contrast to HDDs and SSDs, SSHDs combine the features of SSDs and HDDs in the same unit, containing a high-capacity HDD and a smaller SSD acting as a cache to improve performance of frequently accessed data. The Company’s HDD products are designed for mass capacity storage and legacy markets. Mass capacity storage supports high capacity, low-cost per terabyte storage applications, including nearline, video and image applications and network-attached storage. Legacy markets include mission critical, desktop, notebook, consumer, digital video recorders and gaming applications. These markets were previously categorized as enterprise servers and storage systems, edge non-compute applications and edge compute applications. The Company’s HDD and SSD product portfolio includes Serial Advanced Technology Attachment, Serial Attached SCSI and Non-Volatile Memory Express based designs to support a wide variety of mass capacity and legacy applications. The Company’s enterprise data solutions portfolio includes storage subsystems and mass capacity optimized private cloud storage solutions for enterprises and cloud and managed service providers. Engineered for modularity, mobility, mass capacity and performance, these solutions include the Company’s enterprise HDDs and SSDs, enabling customers to integrate powerful, scalable storage within legacy enterprise IT environments or build new on premises private storage clouds from the ground up in a secure, cost-effective manner. The Company’s other solutions include an edge-to-cloud mass storage platform, which is designed to reduce the cost and complexity associated with storing, moving and activating data at scale. Basis of Presentation and Consolidation The Company’s unaudited condensed consolidated financial statements include the accounts of the Company and all its wholly-owned and majority-owned subsidiaries, after elimination of intercompany transactions and balances. The preparation of financial statements in accordance with the United States (“U.S.”) generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the Company’s condensed consolidated financial statements and accompanying notes. These estimates and assumptions include the impact of the COVID-19 pandemic. Actual results could differ materially from those estimates. The methods, estimates and judgments the Company uses in applying its most critical accounting policies have a significant impact on the results the Company reports in its condensed consolidated financial statements. The Company’s consolidated financial statements for the fiscal year ended July 3, 2020 are included in its Annual Report on Form 10-K, as filed with the U.S. Securities and Exchange Commission (“SEC”) on August 7, 2020. The Company believes that the disclosures included in these unaudited condensed consolidated financial statements, when read in conjunction with its consolidated financial statements as of July 3, 2020, and the notes thereto, are adequate to make the information presented not misleading. Fiscal Year The Company operates and reports financial results on a fiscal year of 52 or 53 weeks ending on the Friday closest to June 30. In fiscal years with 53 weeks, the first quarter consists of 14 weeks and the remaining quarters consist of 13 weeks each. The three and nine months ended April 2, 2021 consisted of 13 and 39 weeks, respectively, and the three and nine months ended April 3, 2020 consisted of 13 and 40 weeks, respectively. Fiscal year 2021, which ends on July 2, 2021, is comprised of 52 weeks and fiscal year 2020, which ended on July 3, 2020, was comprised of 53 weeks. The fiscal quarters ended April 2, 2021, January 1, 2021 and April 3, 2020, are also referred to herein as the “March 2021 quarter”, the “December 2020 quarter” and the “March 2020 quarter”, respectively. The results of operations for the three and nine months ended April 2, 2021 are not necessarily indicative of the results of operations to be expected for any subsequent interim period or for the Company’s fiscal year ending July 2, 2021. Summary of Significant Accounting Policies There have been no material changes to the Company’s significant accounting policies disclosed in Note 1. Basis of Presentation and Summary of Significant Accounting Policies of “Financial Statements and Supplementary Data” contained in Part II, Item 8. of the Company’s Annual Report on Form 10-K for the fiscal year ended July 3, 2020, as filed with the SEC on August 7, 2020. Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13 (ASC Topic 326), Financial Instruments—Credit Losses: Measurement of Credit Losses on Financial Instruments . This ASU amends the requirement on the measurement and recognition of expected credit losses for financial assets held to include future conditions in its estimate of expected credit losses. The Company adopted this new accounting pronouncement in the quarter ended October 2, 2020. The adoption of this ASU did not have a material impact on the Company’s condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-15 (ASC Subtopic 350-40), Intangibles—Goodwill and Other—Internal-Use Software—Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract . This ASU aligns the accounting for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the accounting for implementation costs incurred to develop or obtain internal-use software. The Company adopted this new accounting pronouncement in the quarter ended October 2, 2020. The adoption of this ASU did not have a material impact on the Company’s condensed consolidated financial statements. Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12 (ASC Topic 740), Simplifying the Accounting for Income Taxes. This ASU simplifies accounting for income taxes by removing certain exceptions to the general principles and amending existing guidance to improve consistent application. The Company is required to adopt this new accounting pronouncement in the first quarter of fiscal year 2022. Early adoption is permitted. The Company is in the process of assessing the impact of this ASU on its condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04 (ASC Topic 848), Reference Rate Reform. This ASU provides optional expedients and exceptions for applying U.S. generally accepted accounting principles to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. Adoption of the expedients and exceptions is permitted upon issuance of this update through December 31, 2022. The Company is in the process of assessing the impact of this ASU on its condensed consolidated financial statements.

Balance Sheet Information

Balance Sheet Information	9 Months Ended
	Apr. 02, 2021
Disclosure Text Block Supplement [Abstract]
Balance Sheet Information	Balance Sheet Information Available-for-sale Debt Securities The following table summarizes, by major type, the fair value and amortized cost of the Company’s investments as of April 2, 2021: (Dollars in millions) Amortized Cost Unrealized Gain/(Loss) Fair Value Available-for-sale debt securities: Money market funds $ 531 $ — $ 531 Time deposits and certificates of deposit 1 — 1 Other debt securities 18 — 18 Total $ 550 $ — $ 550 Included in Cash and cash equivalents $ 530 Included in Other current assets 2 Included in Other assets, net 18 Total $ 550 As of April 2, 2021, the Company’s Other current assets included $2 million in restricted cash and investments held as collateral at banks for various performance obligations. As of April 2, 2021, the Company had no material available-for-sale debt securities that had been in a continuous unrealized loss position for a period greater than 12 months. The Company determined no impairment related to credit losses for available-for-sale debt securities as of April 2, 2021. The fair value and amortized cost of the Company’s investments classified as available-for-sale debt securities as of April 2, 2021, by remaining contractual maturity were as follows: (Dollars in millions) Amortized Cost Fair Value Due in less than 1 year $ 532 $ 532 Due in 1 to 5 years 10 10 Due in 6 to 10 years — — Thereafter 8 8 Total $ 550 $ 550 The following table summarizes, by major type, the fair value and amortized cost of the Company’s investments as of July 3, 2020: (Dollars in millions) Amortized Cost Unrealized Gain/(Loss) Fair Value Available-for-sale debt securities: Money market funds $ 495 $ — $ 495 Time deposits and certificates of deposit 56 — 56 Other debt securities 18 — 18 Total $ 569 $ — $ 569 Included in Cash and cash equivalents $ 549 Included in Other current assets 2 Included in Other assets, net 18 Total $ 569 As of July 3, 2020, the Company’s Other current assets included $2 million in restricted cash and investments held as collateral at banks for various performance obligations. As of July 3, 2020, the Company had no material available-for-sale debt securities that had been in a continuous unrealized loss position for a period greater than 12 months. The Company determined no available-for-sale debt securities were other-than-temporarily impaired as of July 3, 2020. Cash, Cash Equivalents and Restricted Cash The following table provides a summary of cash, cash equivalents and restricted cash reported on the Company’s Condensed Consolidated Balance Sheets that reconciles to the corresponding amount in the Company’s Condensed Consolidated Statements of Cash Flows: (Dollars in millions) April 2, July 3, April 3, June 28, Cash and cash equivalents $ 1,212 $ 1,722 $ 1,612 $ 2,220 Restricted cash included in Other current assets 2 2 2 31 Total cash, cash equivalents and restricted cash presented in the Statements of Cash Flows $ 1,214 $ 1,724 $ 1,614 $ 2,251 As of June 28, 2019, the Company’s Other current assets included $31 million in restricted cash and cash equivalents in an escrow account for the sale of certain properties and cash equivalents held as collateral at banks for various performance obligations. Accounts Receivable, net In connection with an existing factoring agreement, the Company sells trade receivables to a third party for cash proceeds less a discount. During the three and nine months ended April 2, 2021, the Company sold trade receivables without recourse for cash proceeds of $35 million and $183 million, respectively, of which $35 million remained subject to servicing by the Company as of April 2, 2021. During the three and nine months ended April 3, 2020, the Company sold trade receivables without recourse for cash proceeds of $79 million. The discounts on receivables sold were not material for the three and nine months ended April 2, 2021 and April 3, 2020. Inventories The following table provides details of the inventory balance sheet item: (Dollars in millions) April 2, July 3, Raw materials and components $ 412 $ 451 Work-in-process 443 313 Finished goods 426 378 Total inventories $ 1,281 $ 1,142 Property, Equipment and Leasehold Improvements, net The components of property, equipment and leasehold improvements, net, were as follows: (Dollars in millions) April 2, July 3, Property, equipment and leasehold improvements $ 10,384 $ 10,212 Accumulated depreciation and amortization (8,169) (8,083) Property, equipment and leasehold improvements, net $ 2,215 $ 2,129 Accrued Expenses The following table provides details of the accrued expenses balance sheet item: (Dollars in millions) April 2, July 3, Dividends payable $ 154 $ 167 Other accrued expenses 495 435 Total accrued expenses $ 649 $ 602 Accumulated Other Comprehensive Loss (“AOCL”) The components of AOCL, net of tax, were as follows: (Dollars in millions) Unrealized Gains/(Losses) on Cash Flow Hedges Unrealized Gains/(Losses) on Post-Retirement Plans Foreign Currency Translation Adjustments Total Balance at July 3, 2020 $ (24) $ (26) $ (16) $ (66) Other comprehensive income before reclassifications 20 — — 20 Amounts reclassified from AOCL (9) 2 15 8 Other comprehensive income 11 2 15 28 Balance at April 2, 2021 $ (13) $ (24) $ (1) $ (38) Balance at June 28, 2019 $ — $ (20) $ (14) $ (34) Other comprehensive (loss) income before reclassifications (27) 2 (8) (33) Amounts reclassified from AOCL — — — — Other comprehensive (loss) income (27) 2 (8) (33) Balance at April 3, 2020 $ (27) $ (18) $ (22) $ (67)

Debt

Debt	9 Months Ended
	Apr. 02, 2021
Debt Disclosure [Abstract]
Debt	Credit Agreement The Company’s subsidiary, Seagate HDD Cayman, entered into a credit agreement on February 20, 2019, which was most recently amended on January 13, 2021 (the “Credit Agreement”), increasing the size of the senior unsecured revolving credit facility (“Revolving Credit Facility”) and capping the indebtedness guaranteed by certain of Seagate HDD Cayman’s material subsidiaries to an amount $100 million less than the amount that would give rise to a guarantee requirement by such subsidiaries in respect of any series of senior notes. The Credit Agreement provides a $1.725 billion Revolving Credit Facility and a term loan facility in an aggregate principal amount of $500 million (“Term Loan”). The Revolving Credit Facility has a final maturity of February 20, 2024 and the Term Loan has a final maturity date of September 16, 2025. The loans made under the Revolving Credit Facility and the Term Loan will bear interest at a rate of the London Interbank Offered Rate (“LIBOR”) plus a variable margin for each facility that will be determined based on the corporate credit rating of the Company. The Revolving Credit Facility also allows such facility to increase by an additional $275 million, provided that (i) there has been, and will be after giving effect to such increase, no default, (ii) the increase is at least $25 million, and (iii) the existing commitments under such facility receive 0.50% most favored nation protection. An aggregate amount of up to $75 million of the Revolving Credit Facility is available for the issuance of letters of credit, and an aggregate amount of up to $50 million of such facility is also available for swing line loans. On September 17, 2019, Seagate HDD Cayman borrowed the $500 million principal amount under the Term Loan and the proceeds were used to repurchase a portion of its outstanding senior notes. The Term Loan is repayable in quarterly installments of 1.25% of the original principal amount beginning on December 31, 2020, with the remaining balance payable upon maturity. The Company repaid $6 million and $12 million principal amount of the Term Loan during the three and nine months ended April 2, 2021, respectively. The Credit Agreement includes three financial covenants: (1) interest coverage ratio, (2) total leverage ratio and (3) a minimum liquidity amount. The Company was in compliance with the covenants as of April 2, 2021 and expects to be in compliance for the next 12 months. As of April 2, 2021, no borrowings were drawn and no letters of credit or swing line loans had been utilized under the Revolving Credit Facility. Other Long-Term Debt $750 million Aggregate Principal Amount of 4.25% Senior Notes due March, 2022 (the “2022 Notes”) . The interest on the 2022 Notes is payable semi-annually on March 1 and September 1 of each year. The issuer under the 2022 Notes is Seagate HDD Cayman, and the obligations under the 2022 Notes are fully and unconditionally guaranteed, on a senior unsecured basis, by STX. During the nine months ended April 2, 2021, $9 million aggregate principal amount of the 2022 Notes was repurchased for cash at a premium to their principal amount, plus accrued and unpaid interest. During the three and nine months ended April 3, 2020, the Company repurchased $23 million and $273 million aggregate principal amount of the 2022 Notes, respectively, for cash at a premium to their principal amount, plus accrued and unpaid interest, $250 million principal amount of which was repurchased pursuant to cash tender offers for certain senior notes on September 18, 2019 (the “Tender Offers”). The Company recorded an immaterial loss and a loss of $10 million, respectively, on repurchases during the nine months ended April 2, 2021 and April 3, 2020, which is included in Other, net in the Company’s Condensed Consolidated Statements of Operations. $1 billion Aggregate Principal Amount of 4.75% Senior Notes due June, 2023 (the “2023 Notes”). The interest on the 2023 Notes is payable semi-annually on June 1 and December 1 of each year. The issuer under the 2023 Notes is Seagate HDD Cayman, and the obligations under the 2023 Notes are fully and unconditionally guaranteed, on a senior unsecured basis, by STX. During the nine months ended April 2, 2021, $5 million aggregate principal amount of the 2023 Notes was repurchased for cash at a premium to their principal amount, plus accrued and unpaid interest. During the three and nine months ended April 3, 2020, the Company repurchased $17 million and $217 million aggregate principal amount of the 2023 Notes for cash at a discount or at a premium to their principal amount, plus accrued and unpaid interest, respectively, $200 million principal amount of which was repurchased pursuant to the Tender Offers. The Company recorded a loss of $1 million and $10 million, respectively, on repurchases during the nine months ended April 2, 2021 and April 3, 2020, which is included in Other, net in the Company’s Condensed Consolidated Statements of Operations. $500 million Aggregate Principal Amount of 4.875% Senior Notes due March, 2024 (the “2024 Notes”). The interest on the 2024 Notes is payable semi-annually on March 1 and September 1 of each year. The issuer under the 2024 Notes is Seagate HDD Cayman, and the obligations under the 2024 Notes are fully and unconditionally guaranteed, on a senior unsecured basis, by STX. $1 billion Aggregate Principal Amount of 4.75% Senior Notes due January, 2025 (the “2025 Notes”) . The interest on the 2025 Notes is payable semi-annually on January 1 and July 1 of each year. The issuer under the 2025 Notes is Seagate HDD Cayman, and the obligations under the 2025 Notes are fully and unconditionally guaranteed, on a senior unsecured basis, by STX. During the nine months ended April 3, 2020, $170 million aggregate principal amount was repurchased pursuant to the Tender Offers. The Company recorded a loss of $8 million on repurchases during the nine months ended April 3, 2020, which is included in Other, net in the Company’s Condensed Consolidated Statements of Operations. $700 million Aggregate Principal Amount of 4.875% Senior Notes due June, 2027 (the “2027 Notes”) . The interest on the 2027 Notes is payable semi-annually on June 1 and December 1 of each year. The issuer under the 2027 Notes is Seagate HDD Cayman, and the obligations under the 2027 Notes are fully and unconditionally guaranteed, on a senior unsecured basis, by STX. $500 million Aggregate Principal Amount of 4.091% Senior Notes due June, 2029 (the “June 2029 Notes”) . The interest on the June 2029 Notes is payable semi-annually on June 1 and December 1 of each year. The issuer under the June 2029 Notes is Seagate HDD Cayman, and the obligations under the June 2029 Notes are fully and unconditionally guaranteed, on a senior unsecured basis, by STX. $500 million Aggregate Principal Amount of 3.125% Senior Notes due July, 2029 (the “July 2029 Notes”) . On December 8, 2020, Seagate HDD Cayman issued, in a private placement, $500 million in aggregate principal amount of the July 2029 Notes, which will mature on July 15, 2029. The obligations under the July 2029 Notes are fully and unconditionally guaranteed, on a senior unsecured basis, by STX. The interest on the July 2029 Notes is payable semi-annually on January 15 and July 15 of each yea r, commencing on July 15, 2021. At any time before January 15, 2024, Seagate HDD Cayman may redeem some or all of the July 2029 Notes at a “make-whole” redemption price. The “make-whole” redemption price will be equal to (1) 100% of the principal amount of the July 2029 Notes redeemed, plus (2) the greater of (a) 1.0% of the principal amount of the July 2029 Notes and (b) the excess, if any, of (i) the present value at such redemption date of (x) the applicable redemption price of such July 2029 Notes that would apply if such July 2029 Notes were redeemed on January 15, 2024, plus (y) all remaining scheduled payments of interest due on such July 2029 Notes to and including January 15, 2024, computed using a discount rate equal to the applicable Treasury Rate as of such redemption date plus 50 basis points; over (ii) the sum of accrued and unpaid interest, if any, to, but excluding, the redemption date, plus the principal amount of such July 2029 Notes, plus (3) accrued and unpaid interest, if any, to, but excluding, the redemption date. At any time on or after January 15, 2024, Seagate HDD Cayman may redeem some or all of such July 2029 Notes at a price of 101.563%, 100.781% and 100.000%, after January 15, 2024, January 15, 2025 and January 15, 2026, respectively, plus accrued and unpaid interest thereon, if any, to, but excluding, the redemption date. In addition, Seagate HDD Cayman may redeem with the net cash proceeds from one or more equity offerings up to 40% of the July 2029 Notes before January 15, 2024, at a redemption price of 103.125%, plus accrued and unpaid interest to, but excluding, the redemption date. $500 million Aggregate Principal Amount of 4.125% Senior Notes due January, 2031 (the “January 2031 Notes”) . The interest on the January 2031 Notes is payable semi-annually on January 15 and July 15 of each year. The issuer under the January 2031 Notes is Seagate HDD Cayman, and the obligations under the January 2031 Notes are fully and unconditionally guaranteed, on a senior unsecured basis, by STX. $500 million Aggregate Principal Amount of 3.375% Senior Notes due July, 2031 (the “July 2031 Notes”) . On December 8, 2020, Seagate HDD Cayman issued, in a private placement, $500 million in aggregate principal amount of the July 2031 Notes, which will mature on July 15, 2031. The obligations under the July 2031 Notes are fully and unconditionally guaranteed, on a senior unsecured basis, by STX. The interest on the July 2031 Notes is payable semi-annually on January 15 and July 15 of each yea r, commencing on July 15, 2021 . At any time before January 15, 2026, Seagate HDD Cayman may redeem some or all of the July 2031 Notes at a “make-whole” redemption price. The “make-whole” redemption price will be equal to (1) 100% of the principal amount of the July 2031 Notes redeemed, plus (2) the greater of (a) 1.0% of the principal amount of the July 2031 Notes and (b) the excess, if any, of (i) the present value at such redemption date of (x) the applicable redemption price of such July 2031 Notes that would apply if such July 2031 Notes were redeemed on January 15, 2026, plus (y) all remaining scheduled payments of interest due on such July 2031 Notes to and including January 15, 2026, computed using a discount rate equal to the Treasury Rate as of such redemption date plus 50 basis points; over (ii) the sum of accrued and unpaid interest, if any, to, but excluding, the redemption date, plus the principal amount of such July 2031 Notes, plus (3) accrued and unpaid interest, if any, to, but excluding, the redemption date. At any time on or after January 15, 2026, Seagate HDD Cayman may redeem some or all of such July 2031 Notes at a price o f 101.688%, 101.125%, 100.563% and 100.000%, after January 15, 2026, January 15, 2027, January 15, 2028 and January 15, 2029, respectively, plus accrued and unpaid interest thereon, if any, to, but excluding, the redemption date. In addition, Seagate HDD Cayman may redeem with the net cash proceeds from one or more equity offerings up to 40% of the July 2031 Notes before January 15, 2024, a redemption price of 103.375% , accrued and unpaid interest to, but excluding, the redemption date.

Income Taxes

Income Taxes	9 Months Ended
	Apr. 02, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recorded income tax provisions of $10 million and $19 million in the three and nine months ended April 2, 2021, respectively. The income tax provision for the three months ended April 2, 2021 included approximately $4 million of net discrete tax benefit, primarily associated with filing of tax returns in various jurisdictions. The income tax provision for the nine months ended April 2, 2021 included approximately $15 million of net discrete tax benefit, primarily associated with net excess tax benefits related to share-based compensation expense, filing of tax returns in various jurisdictions , and postponement of the previously enacted United Kingdom tax rate change in the quarter ended October 2, 2020. During the nine months ended April 2, 2021 , the Company’s unrecognized tax benefits excluding interest and penalties increased by approximately $18 million to $107 million , substantially all of which would impact the effective tax rate, if recognized, subject to certain future valuation allowance reversals. During the twelve months beginning April 3, 2021, the Company expects that its unrecognized tax benefits could be reduced by an immaterial amount , as a result of the expiration of certain statutes of limitation. The Company recorded income tax provisions of $18 million and $34 million in the three and nine months ended April 3, 2020, respectively. The discrete items in the income tax provision were not material for the three months ended April 3, 2020. The income tax provision for the nine months ended April 3, 2020 included approximately $13 million of net discrete tax benefits, primarily associated with net excess tax benefits related to share-based compensation expense. The Company’s income tax provision recorded for the three and nine months ended April 2, 2021 and April 3, 2020 differed from the provision for income taxes that would be derived by applying the Irish statutory rate of 25% to income before income taxes, primarily due to the net effect of tax benefits related to (i) non-Irish earnings generated in jurisdictions that are subject to tax incentive programs and are considered indefinitely reinvested outside of Ireland and (ii) current year generation of research credits.

Leases

Leases	9 Months Ended
	Apr. 02, 2021
Leases [Abstract]
Leases	The Company is a lessee in several operating leases related to real estate facilities for warehouse and office space. The Company’s lease arrangements comprise operating leases with various expiration dates through 2067. The lease term includes the non-cancelable period of the lease, adjusted for options to extend or terminate the lease when it is reasonably certain that an option will be exercised. Operating lease costs include short-term lease costs and are shown net of immaterial sublease income. The components of lease costs and other information related to leases were as follows: For the Three Months Ended For the Nine Months Ended (Dollars in millions) April 2, April 3, April 2, April 3, Operating lease cost $ 4 $ 6 $ 11 $ 17 Variable lease cost 1 1 3 3 Total lease cost $ 5 $ 7 $ 14 $ 20 Operating cash outflows from operating leases $ 5 $ 4 $ 14 $ 13 April 2, July 3, Weighted-average remaining lease term 7.1 years 13.2 years Weighted-average discount rate 6.02 % 6.53 % Right-of-use (“ROU”) assets and lease liabilities are included on the Company’s Condensed Consolidated Balance Sheets as follows: (Dollars in millions) Balance Sheet Location April 2, July 3, ROU assets Other assets, net $ 102 $ 103 Current lease liabilities Accrued expenses $ 15 $ 14 Non-current lease liabilities Other non-current liabilities $ 43 $ 49 At April 2, 2021, future lease payments included in the measurement of lease liabilities were as follows (in millions): Fiscal Year Amount Remainder of 2021 $ 4 2022 16 2023 12 2024 7 2025 5 Thereafter 25 Total lease payments 69 Less: imputed interest (11) Present value of lease liabilities $ 58

Restructuring and Exit Costs

Restructuring and Exit Costs	9 Months Ended
	Apr. 02, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Exit Costs	Restructuring and Exit Costs For the three months ended April 2, 2021, the Company recorded a net gain of $2 million comprised primarily of a gain of $3 million from the sale of a property. For the nine months ended April 2, 2021, the Company recorded restructuring charges of $1 million, which are comprised primarily of charges related to workforce reduction costs and facilities and other exit costs. All restructuring charges are reported in Restructuring and other, net on the Company’s Condensed Consolidated Statements of Operations. June 2020 Plan - On June 1, 2020, the Company committed to a restructuring plan (the “June 2020 Plan”) consistent with its long-term strategy to drive operational efficiencies, reduce its cost structure and invest in future opportunities. The June 2020 Plan included consolidating the Company’s Minnesota facilities into one location and reducing its headcount worldwide by approximately 500 employees. The June 2020 Plan was substantially completed during the quarter ended October 2, 2020. The following tables summarize the Company’s restructuring activities under the Company’s restructuring plans: June 2020 Plan Other Plans (Dollars in millions) Workforce Reduction Costs Facilities and Other Exit Costs Workforce Reduction Costs Facilities and Other Exit Costs Total Accrual balances at July 3, 2020 $ 38 $ 2 $ 5 $ 3 $ 48 Restructuring charges — — 5 — 5 Cash payments (37) (1) (8) (1) (47) Adjustments — — — (1) (1) Accrual balances at April 2, 2021 $ 1 $ 1 $ 2 $ 1 $ 5 Total costs incurred to date as of April 2, 2021 $ 56 $ 2 $ 21 $ 28 $ 107 Total expected charges to be incurred as of April 2, 2021 $ — $ 7 $ — $ — $ 7 Restructuring Plans (Dollars in millions) Workforce Reduction Costs Facilities and Other Exit Costs Total Accrual balances at June 28, 2019 $ 13 $ 17 $ 30 Lease adoption adjustment — (11) (11) Restructuring charges 22 1 23 Cash payments (29) (3) (32) Adjustments (4) — (4) Accrual balances at April 3, 2020 $ 2 $ 4 $ 6

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Apr. 02, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The Company is exposed to foreign currency exchange rate, interest rate, and to a lesser extent, equity market risks relating to its ongoing business operations. From time to time, the Company enters into cash flow hedges in the form of foreign currency forward exchange contracts in order to manage the foreign currency exchange rate risk on forecasted expenses and investments denominated in foreign currencies. In the quarter ended October 4, 2019, the Company entered into certain interest rate swap agreements with a notional amount of $500 million to convert the variable interest rate on its Term Loan to fixed interest rates. The contracts will mature on September 16, 2025. The notional amount of the interest rate swap agreements was $488 million as of April 2, 2021. The objective of the interest rate swap agreements is to eliminate the variability of interest payment cash flows associated with the variable interest rate under the Term Loan. The Company designated the interest rate swaps as cash flow hedges. The Company’s accounting policies for these instruments are based on whether the instruments are classified as designated or non-designated hedging instruments. The Company records all derivatives on its Condensed Consolidated Balance Sheets at fair value. The changes in the fair value of highly effective designated cash flow hedges are recorded in Accumulated other comprehensive loss until the hedged item is recognized in earnings. Derivatives that are not designated as hedging instruments or are not assessed to be highly effective are adjusted to fair value through earnings. The amount of net unrealized loss on cash flow hedges was $13 million and $24 million as of April 2, 2021 and as of July 3, 2020, respectively. As of April 2, 2021, the amount of existing net losses related to cash flow hedges recorded in Accumulated other comprehensive loss included a net loss of $7 million that is expected to be reclassified to earnings within twelve months. The Company de-designates its cash flow hedges when the forecasted hedged transactions affect earnings or it is probable the forecasted hedged transactions will not occur in the initially identified time period. At such time, the associated gains and losses deferred in Accumulated other comprehensive loss on the Company’s Condensed Consolidated Balance Sheets are reclassified into earnings and any subsequent changes in the fair value of such derivative instruments are immediately reflected in earnings. The Company recognized a net gain of $8 million and $12 million in Cost of revenue related to the loss of hedge designation on discontinued cash flow hedges during the three and nine months ended April 2, 2021, respectively. The Company recognized a net loss of $1 million and $5 million in Interest expense related to the loss of hedge designation on discontinued cash flow hedges during the three and nine months ended April 2, 2021, respectively. The Company recognized a net gain of $1 million and an immaterial net loss in Other expense, net related to the loss of hedge designation on discontinued cash flow hedges during the three and nine months ended April 3, 2020, respectively. Other derivatives not designated as hedging instruments consist of foreign currency forward exchange contracts that the Company uses to hedge the foreign currency exposure on forecasted expenditures denominated in currencies other than the U.S. dollar. The Company recognizes gains and losses on these contracts, as well as the related costs in Other, net on its Condensed Consolidated Statements of Operations. The following tables show the total notional value of the Company’s outstanding foreign currency forward exchange contracts as of April 2, 2021 and July 3, 2020. All foreign currency forward exchange contracts mature within 12 months. As of April 2, 2021 (Dollars in millions) Contracts Designated as Hedges Contracts Not Designated as Hedges Singapore Dollar $ 165 $ 53 Thai Baht 131 38 Chinese Renminbi 72 22 British Pound Sterling 56 14 $ 424 $ 127 As of July 3, 2020 (Dollars in millions) Contracts Designated as Hedges Contracts Not Designated as Hedges Singapore Dollar $ 187 $ 56 Thai Baht 157 42 Chinese Renminbi 81 25 British Pound Sterling 64 20 $ 489 $ 143 The Company is subject to equity market risks due to changes in the fair value of the notional investments selected by its employees as part of its non-qualified deferred compensation plan: the Seagate Deferred Compensation Plan (the “SDCP”). In fiscal year 2014, the Company entered into a Total Return Swap (“TRS”) in order to manage the equity market risks associated with the SDCP’s liabilities. The Company pays a floating rate, based on LIBOR plus an interest rate spread, on the notional amount of the TRS. The TRS is designed to substantially offset changes in the SDCP’s liabilities due to changes in the value of the investment options made by employees. As of April 2, 2021, the notional investments underlying the TRS amounted to $120 million and the contract term is through January 2022, settled on a monthly basis, limiting counterparty performance risk. The Company did not designate the TRS as a hedge, rather, the Company records all changes in the fair value of the TRS to earnings to offset the market value changes of the SDCP’s liabilities. The following tables show the Company’s derivative instruments measured at gross fair value as reflected in the Condensed Consolidated Balance Sheets as of April 2, 2021 and July 3, 2020: As of April 2, 2021 Derivative Assets Derivative Liabilities (Dollars in millions) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments: Foreign currency forward exchange contracts Other current assets $ 2 Accrued expenses $ (2) Interest rate swap Other current assets — Accrued expenses (13) Derivatives not designated as hedging instruments: Foreign currency forward exchange contracts Other current assets 2 Accrued expenses (1) Total return swap Other current assets 2 Accrued expenses — Total derivatives $ 6 $ (16) As of July 3, 2020 Derivative Assets Derivative Liabilities (Dollars in millions) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments: Foreign currency forward exchange contracts Other current assets $ 3 Accrued expenses $ — Interest rate swap Other current assets — Accrued expenses (27) Derivatives not designated as hedging instruments: Foreign currency forward exchange contracts Other current assets 2 Accrued expenses (2) Total return swap Other current assets 1 Accrued expenses — Total derivatives $ 6 $ (29) The following tables show the effect of the Company’s derivative instruments on the Condensed Consolidated Statements of Comprehensive Income and the Condensed Consolidated Statements of Operations for the three and nine months ended April 2, 2021: Amount of Gain/(Loss) Recognized in Income on Derivatives (Dollars in millions) Derivatives Not Designated as Hedging Instruments Location of Gain/(Loss) Recognized in Income on Derivatives For the Three Months For the Nine Months Foreign currency forward exchange contracts Other, net $ (3) $ 11 Total return swap Operating expenses 6 22 (Dollars in millions) Derivatives Designated as Hedging Instruments Amount of Gain/(Loss) Recognized in OCI on Derivatives (Effective Portion) Location of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion) Location of Gain/(Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) Amount of Gain/(Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) For the Three Months For the Nine Months For the Three Months For the Nine Months For the Three Months For the Nine Months Foreign currency forward exchange contracts $ (5) $ 10 Cost of revenue $ 8 $ 12 Other, net $ (1) $ — Interest rate swap 9 10 Interest expense (1) (5) Interest expense — — The following tables show the effect of the Company’s derivative instruments on the Condensed Consolidated Statements of Comprehensive Income and the Condensed Consolidated Statements of Operations for the three and nine months ended April 3, 2020 : (Dollars in millions) Derivatives Not Designated as Hedging Instruments Location of Gain/(Loss) Recognized in Income on Derivatives Amount of Gain/(Loss) Recognized in Income on Derivatives For the Three Months For the Nine Months Foreign currency forward exchange contracts Other, net $ (3) $ (5) Total return swap Operating expenses $ (23) $ (16) (Dollars in millions) Derivatives Designated as Hedging Instruments Amount of Gain/(Loss) Recognized in OCI on Derivatives (Effective Portion) Location of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion) Location of Gain/(Loss) Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) Amount of Gain/(Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) For the Three Months For the Nine Months For the Three Months For the Nine Months For the Three Months For the Nine Months Foreign currency forward exchange contracts $ (2) $ (2) Other, net $ — $ (1) Other, net $ — $ — Interest rate swap (27) (25) Interest expense 1 1 Interest expense — —

Fair Value

Fair Value	9 Months Ended
	Apr. 02, 2021
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Measurement of Fair Value Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. Fair Value Hierarchy A fair value hierarchy is based on whether the market participant assumptions used in determining fair value are obtained from independent sources (observable inputs) or reflect the Company’s own assumptions of market participant valuation (unobservable inputs). A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs that may be used to measure fair value are: Level 1 — Quoted prices in active markets that are unadjusted and accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 — Quoted prices for identical assets and liabilities in markets that are inactive; quoted prices for similar assets and liabilities in active markets or financial instruments for which significant inputs are observable, either directly or indirectly; or Level 3 — Prices or valuations that require inputs that are both unobservable and significant to the fair value measurement. The Company considers an active market to be one in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis, and views an inactive market as one in which there are few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers. Where appropriate, the Company’s or the counterparty’s non-performance risk is considered in determining the fair values of liabilities and assets, respectively. Items Measured at Fair Value on a Recurring Basis The following tables present the Company’s assets and liabilities, by financial instrument type and balance sheet line item, that are measured at fair value on a recurring basis, excluding accrued interest components, as of April 2, 2021: Fair Value Measurements at Reporting Date Using (Dollars in millions) Quoted Prices in Active Markets for Identical Instruments (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Balance Assets: Money market funds $ 530 $ — $ — $ 530 Total cash equivalents 530 — — 530 Restricted cash and investments: Money market funds 1 — — 1 Time deposits and certificates of deposit — 1 — 1 Other debt securities — — 18 18 Derivative assets — 6 — 6 Total assets $ 531 $ 7 $ 18 $ 556 Liabilities: Derivative liabilities $ — $ 16 $ — $ 16 Total liabilities $ — $ 16 $ — $ 16 Fair Value Measurements at Reporting Date Using (Dollars in millions) Quoted Prices in Active Markets for Identical Instruments (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Balance Assets: Cash and cash equivalents $ 530 $ — $ — $ 530 Other current assets 1 7 — 8 Other assets, net — — 18 18 Total assets $ 531 $ 7 $ 18 $ 556 Liabilities: Accrued expenses $ — $ 16 $ — $ 16 Total liabilities $ — $ 16 $ — $ 16 The following tables present the Company’s assets and liabilities, by financial instrument type and balance sheet line item, that are measured at fair value on a recurring basis, excluding accrued interest components, as of July 3, 2020: Fair Value Measurements at Reporting Date Using (Dollars in millions) Quoted Prices in Active Markets for Identical Instruments (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Balance Assets: Money market funds $ 494 $ — $ — $ 494 Time deposits and certificates of deposit — 55 — 55 Total cash equivalents 494 55 — 549 Restricted cash and investments: Money market funds 1 — — 1 Time deposits and certificates of deposit — 1 — 1 Other debt securities — — 18 18 Derivative assets — 6 — 6 Total assets $ 495 $ 62 $ 18 $ 575 Liabilities: Derivative liabilities $ — $ 29 $ — $ 29 Total liabilities $ — $ 29 $ — $ 29 Fair Value Measurements at Reporting Date Using (Dollars in millions) Quoted Prices in Active Markets for Identical Instruments (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Balance Assets: Cash and cash equivalents $ 494 $ 55 $ — $ 549 Other current assets 1 7 — 8 Other assets, net — — 18 18 Total assets $ 495 $ 62 $ 18 $ 575 Liabilities: Accrued expenses $ — $ 29 $ — $ 29 Total liabilities $ — $ 29 $ — $ 29 The Company classifies items in Level 1 if the financial assets consist of securities for which quoted prices are available in an active market. The Company classifies items in Level 2 if the financial asset or liability is valued using observable inputs. The Company uses observable inputs including quoted prices in active markets for similar assets or liabilities. Level 2 assets include: agency bonds, corporate bonds, commercial paper, municipal bonds, U.S. Treasuries, time deposits and certificates of deposit. These debt investments are priced using observable inputs and valuation models which vary by asset class. The Company uses a pricing service to assist in determining the fair value of all of its cash equivalents. For the cash equivalents in the Company’s portfolio, multiple pricing sources are generally available. The pricing service uses inputs from multiple industry-standard data providers or other third-party sources and various methodologies, such as weighting and models, to determine the appropriate price at the measurement date. The Company corroborates the prices obtained from the pricing service against other independent sources and, as of April 2, 2021, has not found it necessary to make any adjustments to the prices obtained. The Company’s derivative financial instruments are also classified within Level 2. The Company’s derivative financial instruments consist of foreign currency forward exchange contracts, interest rate swaps and the TRS. The Company recognizes derivative financial instruments in its condensed consolidated financial statements at fair value. The Company determines the fair value of these instruments by considering the estimated amount it would pay or receive to terminate these agreements at the reporting date. Items Measured at Fair Value on a Non-Recurring Basis From time to time, the Company enters into certain strategic investments for the promotion of business and strategic objectives. These strategic investments primarily include cost basis investments representing those where the Company does not have the ability to exercise significant influence. These investments are included in Other assets, net on the Company’s Condensed Consolidated Balance Sheets, and are periodically analyzed to determine whether or not there are indicators of impairment. As of April 2, 2021 and July 3, 2020, the carrying value of the Company’s strategic investments was $163 million and $135 million , respectively. The Company’s strategic investments are recorded at fair value only if an impairment or observable price change is recognized in the current period. If an observable price change or impairment is recognized on the Company’s strategic investments during the period, the Company classifies these assets as Level 3 within the fair value hierarchy based on the nature of the fair value inputs. For the three and nine months ended April 2, 2021 , the Company recorded upward adjustments of $10 million and $33 million, respectively, due to observa ble price changes of strategic investments, which are included in Other, net in the Company’s Condensed Consolidated Statement of Operations. For the three months ended April 2, 2021, there were no downward adjustments on strategic investments. For the nine months ended April 2, 2021, the Company recorded downward adjustments of $7 million to write down the carrying amount of certain investments to their fair value, which are included in Other, net in the Company’s Condensed Consolidated Statement of Operations. For the three months ended April 3, 2020, there were no downward adjustments on strategic investments. For the nine months ended April 3, 2020, the Company recorded a downward adjustment of $1 million in order to write down the carrying amount of an investment to its fair value. For the three and nine months ended April 3, 2020, there were no upward adjustments for strategic investments. Other Fair Value Disclosures The Company’s debt is carried at amortized cost. The estimated fair value of the Company’s debt is derived using the closing price of the same debt instruments as of the date of valuation, which takes into account the yield curve, interest rates and other observable inputs. Accordingly, these fair value measurements are categorized as Level 2. The following table presents the fair value and amortized cost of the Company’s debt in order of maturity: April 2, 2021 July 3, 2020 (Dollars in millions) Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value 4.250% Senior Notes due March 2022 $ 220 $ 226 $ 229 $ 237 4.750% Senior Notes due June 2023 540 578 546 576 4.875% Senior Notes due March 2024 499 538 498 541 4.750% Senior Notes due January 2025 479 522 479 517 4.875% Senior Notes due June 2027 504 556 504 549 4.091% Senior Notes due June 2029 460 510 456 523 3.125% Senior Notes due July 2029 500 484 — — 4.125% Senior Notes due January 2031 499 508 499 524 3.375% Senior Notes due July 2031 500 481 — — 5.750% Senior Notes due December 2034 489 557 489 543 LIBOR Based Term Loan due September 2025 488 488 500 490 5,178 5,448 4,200 4,500 Less: debt issuance costs (36) — (25) — Debt, net of debt issuance costs 5,142 5,448 4,175 4,500 Less: current portion of debt, net of debt issuance costs (245) (251) (19) (19) Long-term debt, less current portion, net of debt issuance costs $ 4,897 $ 5,197 $ 4,156 $ 4,481

Equity

Equity	9 Months Ended
	Apr. 02, 2021
Equity [Abstract]
Equity	Equity Share Capital The Company’s authorized share capital i s $13,500 and consists of 1,250,000,000 ordinary shares, par value $0.00001, of which 229,556,907 shares were outstanding as of April 2, 2021, and 100,000,000 preferred shares, par value $0.00001, of which none were issued or outstanding as of April 2, 2021. Ordinary shares —Holders of ordinary shares are entitled to receive dividends when declared by the Board of Directors. Upon any liquidation, dissolution, or winding up, after required payments are made to holders of preferred shares, any remaining assets will be distributed ratably to holders of the preferred and ordinary shares. Holders of shares are entitled to one vote per share on all matters upon which the ordinary shares are entitled to vote, including the election of directors. Preferred shares —The Company may issue preferred shares in one or more series, up to the authorized amount, without shareholder approval. The Board of Directors is authorized to establish from time to time the number of shares to be included in each series, and to fix the rights, preferences and privileges of the shares of each wholly unissued series and any of its qualifications, limitations or restrictions. The Board of Directors can also increase or decrease the number of shares of a series, but not below the number of shares of that series then outstanding, without any further vote or action by the shareholders. The Board of Directors may authorize the issuance of preferred shares with voting or conversion rights that could harm the voting power or other rights of the holders of the ordinary shares. The issuance of preferred shares, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, have the effect of delaying, deferring or preventing a change in control of the Company and might harm the market price of its ordinary shares and the voting and other rights of the holders of ordinary shares. Repurchases of Equity Securities All repurchases are effected as redemptions in accordance with the Company’s Constitution. The Company’s Board of Directors increased the authorization for the repurchase of its outstanding ordinary shares by $3.0 billion on October 21, 2020, and $2.0 billion on February 22, 2021. As of April 2, 2021, $4.4 billion remained available for repurchase under the existing repurchase authorization limit. The following table sets forth information with respect to repurchases of ordinary shares during the nine months ended April 2, 2021: (In millions) Number of Shares Repurchased Dollar Value of Shares Repurchased Repurchases of ordinary shares 30 $ 1,830 Tax withholding related to vesting of equity awards 1 33 Total 31 $ 1,863

Revenue

Revenue	9 Months Ended
	Apr. 02, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following table provides information about disaggregated revenue by sales channel and geographical region for the Company’s single reportable segment: For the Three Months Ended For the Nine Months Ended (Dollars in millions) April 2, April 3, April 2, April 3, Revenues by Channel Original equipment manufacturers $ 1,950 $ 1,970 $ 5,299 $ 5,633 Distributors 455 465 1,297 1,389 Retailers 326 283 1,072 970 Total $ 2,731 $ 2,718 $ 7,668 $ 7,992 Revenues by Geography (1) Asia Pacific $ 1,268 $ 1,257 $ 3,680 $ 3,912 Americas 939 938 2,582 2,534 EMEA 524 523 1,406 1,546 Total $ 2,731 $ 2,718 $ 7,668 $ 7,992 _________________________________ (1) Revenue is attributed to countries based on bill from locations.

Guarantees

Guarantees	9 Months Ended
	Apr. 02, 2021
Guarantees [Abstract]
Guarantees	Indemnifications of Officers and Directors Seagate Technology, an exempted company incorporated with limited liability under the laws of the Cayman Islands (“Seagate-Cayman”) and wholly-owned subsidiary of STX, from time to time enters into indemnification agreements with the directors, officers, employees and agents of STX or any of its subsidiaries (each, an “Indemnitee”). The indemnification agreements provide indemnification in addition to any of Indemnitee’s indemnification rights under any relevant Articles of Association (or similar constitutional document), applicable law or otherwise, and indemnifies an Indemnitee for certain expenses (including attorneys’ fees), judgments, fines and settlement amounts actually and reasonably incurred by him or her in any action or proceeding, including any action by or in the right of STX or any of its subsidiaries, arising out of his or her service as a director, officer, employee or agent of STX or any of its subsidiaries or of any other entity to which he or she provides services at the Company’s request. However, Indemnitees are not indemnified under the indemnification agreements for (i) any fraud or dishonesty in the performance of Indemnitee’s duty to STX or the applicable subsidiary or (ii) Indemnitee’s conscious, intentional or willful failure to act honestly, lawfully and in good faith with a view to the best interests of the Company. In addition, the indemnification agreements provide that Seagate-Cayman will advance expenses incurred by an Indemnitee in connection with enforcement of the indemnification agreement or with the investigation, settlement or appeal of any action or proceeding against him or her as to which he or she could be indemnified. The nature of these indemnification obligations prevents the Company from making a reasonable estimate of the maximum potential amount it could be required to pay on behalf of its officers and directors. Historically, the Company has not made any significant indemnification payments under such indemnification agreements and no amount has been accrued in the Company’s condensed consolidated financial statements with respect to these indemnification obligations. Indemnification Obligations The Company from time to time enters into agreements with customers, suppliers, partners and others in the ordinary course of business that provide indemnification for certain matters including, but not limited to, intellectual property infringement claims, environmental claims and breach of agreement claims. The nature of the Company’s indemnification obligations prevents the Company from making a reasonable estimate of the maximum potential amount it could be required to pay. Historically, the Company has not made any significant indemnification payments under such agreements and no amount has been accrued in the Company’s condensed consolidated financial statements with respect to these indemnification obligations. Product Warranty The Company estimates probable product warranty costs at the time revenue is recognized. The Company generally warrants its products for a period of 1 to 5 years. The Company uses estimated repair or replacement costs and uses statistical modeling to estimate product warranty return rates in order to determine its warranty obligation. Changes in the Company’s product warranty liability during the nine months ended April 2, 2021 and April 3, 2020 were as follows: For the Nine Months Ended (Dollars in millions) April 2, April 3, Balance, beginning of period $ 151 $ 195 Warranties issued 56 67 Repairs and replacements (62) (65) Changes in liability for pre-existing warranties, including expirations (11) (34) Balance, end of period $ 134 $ 163

Earnings Per Share

Earnings Per Share	9 Months Ended
	Apr. 02, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Basic earnings per share is computed by dividing income available to shareholders by the weighted-average number of shares outstanding during the period. Diluted earnings per share is computed by dividing income available to shareholders by the weighted-average number of shares outstanding during the period and the number of additional shares that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities include outstanding options, unvested restricted share units and performance-based share units and shares to be purchased under the Company’s Employee Stock Purchase Plan. The dilutive effect of potentially dilutive securities is reflected in diluted earnings per share by application of the treasury stock method. Under the treasury stock method, an increase in fair market value of the Company’s share price can result in a greater dilutive effect from potentially dilutive securities. The following table sets forth the computation of basic and diluted net income per share attributable to the shareholders of the Company: For the Three Months Ended For the Nine Months Ended (In millions, except per share data) April 2, April 3, April 2, April 3, Numerator: Net income $ 329 $ 320 $ 832 $ 838 Number of shares used in per share calculations: Total shares for purposes of calculating basic net income per share 233 261 246 263 Weighted-average effect of dilutive securities: Employee equity award plans 4 2 3 3 Total shares for purpose of calculating diluted net income per share 237 263 249 266 Net income per share: Basic $ 1.41 $ 1.23 $ 3.38 $ 3.19 Diluted 1.39 1.22 3.34 3.15 The anti-dilutive shares related to employee equity award plans that were excluded from the computation of diluted net income per share were not material for the three and nine months ended April 2, 2021 and April 3, 2020.

Legal, Environmental and Other

Legal, Environmental and Other Contingencies	9 Months Ended
	Apr. 02, 2021
Commitments and Contingencies Disclosure [Abstract]
Legal, Environmental and Other Contingencies	The Company assesses the probability of an unfavorable outcome of all its material litigation, claims or assessments to determine whether a liability had been incurred and whether it is probable that one or more future events will occur confirming the fact of the loss. In the event that an unfavorable outcome is determined to be probable and the amount of the loss can be reasonably estimated, the Company establishes an accrual for the litigation, claim or assessment. In addition, in the event an unfavorable outcome is determined to be less than probable, but reasonably possible, the Company will disclose an estimate of the possible loss or range of such loss; however, when a reasonable estimate cannot be made, the Company will provide disclosure to that effect. Litigation is inherently uncertain and may result in adverse rulings or decisions. Additionally, the Company may enter into settlements or be subject to judgments that may, individually, or in the aggregate, have a material adverse effect on its results of operations. Accordingly, actual results could differ materially. Litigation Convolve, Inc. (“Convolve”) and Massachusetts Institute of Technology (“MIT”) v. Seagate Technology LLC, et al. On July 13, 2000, Convolve and MIT filed suit against Compaq Computer Corporation and Seagate Technology LLC in the U.S. District Court for the Southern District of New York, alleging infringement of U.S. Patent No. 4,916,635 (the “‘635 patent”) and U.S. Patent No. 5,638,267 (the “‘267 patent”), misappropriation of trade secrets, breach of contract, and other claims. On January 16, 2002, Convolve filed an amended complaint, alleging defendants were infringing U.S. Patent No. 6,314,473 (the “‘473 patent”). The district court ruled in 2010 that the ‘267 patent was out of the case. On August 16, 2011, the district court granted in part and denied in part the Company’s motion for summary judgment. On July 1, 2013, the U.S. Court of Appeals for the Federal Circuit: 1) affirmed the district court’s summary judgment rulings that the Company did not misappropriate any of the alleged trade secrets and that the asserted claims of the ‘635 patent are invalid; 2) reversed and vacated the district court’s summary judgment of non-infringement with respect to the ‘473 patent; and 3) remanded the case for further proceedings on the ‘473 patent. On July 11, 2014, the district court granted the Company’s further summary judgment motion regarding the ‘473 patent. On February 10, 2016, the U.S. Court of Appeals for the Federal Circuit: 1) affirmed the district court’s summary judgment of no direct infringement by the Company because the Company’s ATA/SCSI disk drives do not meet the “user interface” limitation of the asserted claims of the ‘473 patent; 2) affirmed the district court’s summary judgment of non-infringement by Compaq’s products as to claims 1, 3, and 5 of the ‘473 patent because Compaq’s F10 BIOS interface does not meet the “commands” limitation of those claims; 3) vacated the district court’s summary judgment of non-infringement by Compaq’s accused products as to claims 7-15 of the ‘473 patent; 4) reversed the district court’s summary judgment of non-infringement based on intervening rights; and 5) remanded the case to the district court for further proceedings on the ‘473 patent. In view of the rulings made by the district court and the Court of Appeals and the uncertainty regarding the amount of damages, if any, that could be awarded Convolve in this matter, the Company does not believe that it is currently possible to determine a reasonable estimate of the possible range of loss related to this matter. Lambeth Magnetic Structures LLC v. Seagate Technology (US) Holdings, Inc., et al. On April 29, 2016, Lambeth Magnetic Structures LLC filed a complaint against Seagate Technology (US) Holdings, Inc. and Seagate Technology LLC in the U.S. District Court for the Western District of Pennsylvania, alleging infringement of U.S. Patent No. 7,128,988, “Magnetic Material Structures, Devices and Methods.” The Company believes the claims asserted in the complaint are without merit and intends to vigorously defend this case. The court issued its claim construction ruling on October 18, 2017. The trial is scheduled to begin on February 7, 2022. While the possible range of loss for this matter remains uncertain, the Company estimates the amount of loss to be immaterial to the financial statements. Seagate Technology LLC, et al. v. NHK Spring Co. Ltd. and TDK Corporation, et al . On February 18, 2020, Seagate Technology LLC, Seagate Technology (Thailand) Ltd., Seagate Singapore International Headquarters Pte. Ltd., and Seagate Technology International filed a complaint in the United States District Court for the Northern District of California against defendant suppliers of HDD suspension assemblies. Defendants include NHK Spring Co. Ltd., TDK Corporation, Hutchinson Technology Inc., and several of their subsidiaries and affiliates. The complaint includes federal and state antitrust law claims, as well as a breach of contract claim. The complaint alleges that defendants and their co-conspirators knowingly conspired for more than twelve years not to compete in the supply of suspension assemblies; that defendants misused confidential information that the Company had provided pursuant to nondisclosure agreements, in breach of their contractual obligations; and that the Company paid artificially high prices on its purchases of suspension assemblies. The Company seeks to recover the overcharges it paid for suspension assemblies, as well as additional relief permitted by law. Nidec Corporation v. Seagate Technology LLC, et al. On January 18, 2021, Nidec Corporation filed a complaint against Seagate Technology LLC, Seagate Singapore International Headquarters Pte. Ltd., and Seagate Technology (Netherlands) B.V. in the United States District Court for the District of Delaware, alleging infringement of the following patents: U.S. Patent No. 8,737,017, titled “Spindle Motor and Disk Drive Apparatus,” U.S. Patent No. 9,742,239, titled “Spindle Motor and Disk Drive Apparatus,” U.S. Patent No. 9,935,528, titled “Spindle Motor and Disk Drive Apparatus,” U.S. Patent No. 10,407,775, titled “Base Plate, Hard Disk Drive, and Method of Manufacturing Base Plate,” and U.S. Patent No. 10,460,767, titled “Base Member Including Information Mark and Insulating Coating Layer, and Disk Drive Apparatus Including the Same.” The complaint seeks unspecified compensatory damages and other relief. The Company believes the claims asserted in the complaint are without merit and intends to vigorously defend this case. The Company does not believe that it is currently possible to determine a reasonable estimate of the possible range of loss related to this matter. Environmental Matters The Company’s operations are subject to U.S. and foreign laws and regulations relating to the protection of the environment, including those governing discharges of pollutants into the air and water, the management and disposal of hazardous substances and wastes and the cleanup of contaminated sites. Some of the Company’s operations require environmental permits and controls to prevent and reduce air and water pollution, and these permits are subject to modification, renewal and revocation by issuing authorities. The Company has established environmental management systems and continually updates its environmental policies and standard operating procedures for its operations worldwide. The Company believes that its operations are in material compliance with applicable environmental laws, regulations and permits. The Company budgets for operating and capital costs on an ongoing basis to comply with environmental laws. If additional or more stringent requirements are imposed on the Company in the future, it could incur additional operating costs and capital expenditures. Some environmental laws, such as the Comprehensive Environmental Response Compensation and Liability Act of 1980 (as amended, the “Superfund” law) and its state equivalents, can impose liability for the cost of cleanup of contaminated sites upon any of the current or former site owners or operators or upon parties who sent waste to these sites, regardless of whether the owner or operator owned the site at the time of the release of hazardous substances or the lawfulness of the original disposal activity. The Company has been identified as a responsible or potentially responsible party at several sites. At each of these sites, the Company has an assigned portion of the financial liability based on the type and amount of hazardous substances disposed of by each party at the site and the number of financially viable parties. The Company has fulfilled its responsibilities at some of these sites and remains involved in only a few at this time. While the Company’s ultimate costs in connection with these sites is difficult to predict with complete accuracy, based on its current estimates of cleanup costs and its expected allocation of these costs, the Company does not expect costs in connection with these sites to be material. The Company may be subject to various state, federal and international laws and regulations governing the environment, including those restricting the presence of certain substances in electronic products. For example, the European Union (“EU”) enacted the Restriction of the Use of Certain Hazardous Substances in Electrical and Electronic Equipment (2011/65/EU), which prohibits the use of certain substances, including lead, in certain products, including disk drives and server storage products, put on the market after July 1, 2006. Similar legislation has been or may be enacted in other jurisdictions, including in the U.S., Canada, Mexico, Taiwan, China, Japan and others. The EU REACH Directive (Registration, Evaluation, Authorization, and Restriction of Chemicals, EC 1907/2006) also restricts substances of very high concern in products. If the Company or its suppliers fails to comply with the substance restrictions, recycle requirements or other environmental requirements as they are enacted worldwide, it could have a materially adverse effect on the Company’s business. Other Matters The Company is involved in a number of other judicial, regulatory or administrative proceedings and investigations incidental to its business, and the Company may be involved in such proceedings and investigations arising in the normal course of its business in the future. Although occasional adverse decisions or settlements may occur, the Company believes that the final disposition of such matters will not have a material adverse effect on its financial position or results of operations.

Subsequent event

Subsequent event	9 Months Ended
	Apr. 02, 2021
Subsequent Events [Abstract]
Subsequent Events	Dividend Declared O n April 22, 2021, the Com pany’s Board of Directors declared a quarterly cash dividend of $0.67 per share, which will be payable on July 7, 2021 to shareholders of record as of the close of business on May 12, 2021 .

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Apr. 02, 2021
Accounting Policies [Abstract]
Basis of Presentation and Consolidation, Policy	The Company’s unaudited condensed consolidated financial statements include the accounts of the Company and all its wholly-owned and majority-owned subsidiaries, after elimination of intercompany transactions and balances. The preparation of financial statements in accordance with the United States (“U.S.”) generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the Company’s condensed consolidated financial statements and accompanying notes. These estimates and assumptions include the impact of the COVID-19 pandemic. Actual results could differ materially from those estimates. The methods, estimates and judgments the Company uses in applying its most critical accounting policies have a significant impact on the results the Company reports in its condensed consolidated financial statements. The Company’s consolidated financial statements for the fiscal year ended July 3, 2020 are included in its Annual Report on Form 10-K, as filed with the U.S. Securities and Exchange Commission (“SEC”) on August 7, 2020. The Company believes that the disclosures included in these unaudited condensed consolidated financial statements, when read in conjunction with its consolidated financial statements as of July 3, 2020, and the notes thereto, are adequate to make the information presented not misleading.
Fiscal Period, Policy	The Company operates and reports financial results on a fiscal year of 52 or 53 weeks ending on the Friday closest to June 30. In fiscal years with 53 weeks, the first quarter consists of 14 weeks and the remaining quarters consist of 13 weeks each. The three and nine months ended April 2, 2021 consisted of 13 and 39 weeks, respectively, and the three and nine months ended April 3, 2020 consisted of 13 and 40 weeks, respectively. Fiscal year 2021, which ends on July 2, 2021, is comprised of 52 weeks and fiscal year 2020, which ended on July 3, 2020, was comprised of 53 weeks. The fiscal quarters ended April 2, 2021, January 1, 2021 and April 3, 2020, are also referred to herein as the “March 2021 quarter”, the “December 2020 quarter” and the “March 2020 quarter”, respectively.
Recently Issued Accounting Pronouncements, Policy	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13 (ASC Topic 326), Financial Instruments—Credit Losses: Measurement of Credit Losses on Financial Instruments . This ASU amends the requirement on the measurement and recognition of expected credit losses for financial assets held to include future conditions in its estimate of expected credit losses. The Company adopted this new accounting pronouncement in the quarter ended October 2, 2020. The adoption of this ASU did not have a material impact on the Company’s condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-15 (ASC Subtopic 350-40), Intangibles—Goodwill and Other—Internal-Use Software—Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract . This ASU aligns the accounting for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the accounting for implementation costs incurred to develop or obtain internal-use software. The Company adopted this new accounting pronouncement in the quarter ended October 2, 2020. The adoption of this ASU did not have a material impact on the Company’s condensed consolidated financial statements. Recently Issued Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12 (ASC Topic 740), Simplifying the Accounting for Income Taxes. This ASU simplifies accounting for income taxes by removing certain exceptions to the general principles and amending existing guidance to improve consistent application. The Company is required to adopt this new accounting pronouncement in the first quarter of fiscal year 2022. Early adoption is permitted. The Company is in the process of assessing the impact of this ASU on its condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04 (ASC Topic 848), Reference Rate Reform. This ASU provides optional expedients and exceptions for applying U.S. generally accepted accounting principles to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. Adoption of the expedients and exceptions is permitted upon issuance of this update through December 31, 2022. The Company is in the process of assessing the impact of this ASU on its condensed consolidated financial statements.
Derivatives, Policy	The Company is exposed to foreign currency exchange rate, interest rate, and to a lesser extent, equity market risks relating to its ongoing business operations. From time to time, the Company enters into cash flow hedges in the form of foreign currency forward exchange contracts in order to manage the foreign currency exchange rate risk on forecasted expenses and investments denominated in foreign currencies. In the quarter ended October 4, 2019, the Company entered into certain interest rate swap agreements with a notional amount of $500 million to convert the variable interest rate on its Term Loan to fixed interest rates. The contracts will mature on September 16, 2025. The notional amount of the interest rate swap agreements was $488 million as of April 2, 2021. The objective of the interest rate swap agreements is to eliminate the variability of interest payment cash flows associated with the variable interest rate under the Term Loan. The Company designated the interest rate swaps as cash flow hedges. The Company’s accounting policies for these instruments are based on whether the instruments are classified as designated or non-designated hedging instruments. The Company records all derivatives on its Condensed Consolidated Balance Sheets at fair value. The changes in the fair value of highly effective designated cash flow hedges are recorded in Accumulated other comprehensive loss until the hedged item is recognized in earnings. Derivatives that are not designated as hedging instruments or are not assessed to be highly effective are adjusted to fair value through earnings. The amount of net unrealized loss on cash flow hedges was $13 million and $24 million as of April 2, 2021 and as of July 3, 2020, respectively. As of April 2, 2021, the amount of existing net losses related to cash flow hedges recorded in Accumulated other comprehensive loss included a net loss of $7 million that is expected to be reclassified to earnings within twelve months.
Fair Value Measurement, Policy	Measurement of Fair Value Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. Fair Value Hierarchy A fair value hierarchy is based on whether the market participant assumptions used in determining fair value are obtained from independent sources (observable inputs) or reflect the Company’s own assumptions of market participant valuation (unobservable inputs). A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs that may be used to measure fair value are: Level 1 — Quoted prices in active markets that are unadjusted and accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 — Quoted prices for identical assets and liabilities in markets that are inactive; quoted prices for similar assets and liabilities in active markets or financial instruments for which significant inputs are observable, either directly or indirectly; or Level 3 — Prices or valuations that require inputs that are both unobservable and significant to the fair value measurement. The Company considers an active market to be one in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis, and views an inactive market as one in which there are few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers. Where appropriate, the Company’s or the counterparty’s non-performance risk is considered in determining the fair values of liabilities and assets, respectively.
Fair Value of Financial Instruments, Policy	Items Measured at Fair Value on a Non-Recurring BasisFrom time to time, the Company enters into certain strategic investments for the promotion of business and strategic objectives. These strategic investments primarily include cost basis investments representing those where the Company does not have the ability to exercise significant influence. These investments are included in Other assets, net on the Company’s Condensed Consolidated Balance Sheets, and are periodically analyzed to determine whether or not there are indicators of impairment.
Standard Product Warranty, Policy	Product WarrantyThe Company estimates probable product warranty costs at the time revenue is recognized. The Company generally warrants its products for a period of 1 to 5 years. The Company uses estimated repair or replacement costs and uses statistical modeling to estimate product warranty return rates in order to determine its warranty obligation.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities (Policies)	9 Months Ended
	Apr. 02, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives, Policy	The Company is exposed to foreign currency exchange rate, interest rate, and to a lesser extent, equity market risks relating to its ongoing business operations. From time to time, the Company enters into cash flow hedges in the form of foreign currency forward exchange contracts in order to manage the foreign currency exchange rate risk on forecasted expenses and investments denominated in foreign currencies. In the quarter ended October 4, 2019, the Company entered into certain interest rate swap agreements with a notional amount of $500 million to convert the variable interest rate on its Term Loan to fixed interest rates. The contracts will mature on September 16, 2025. The notional amount of the interest rate swap agreements was $488 million as of April 2, 2021. The objective of the interest rate swap agreements is to eliminate the variability of interest payment cash flows associated with the variable interest rate under the Term Loan. The Company designated the interest rate swaps as cash flow hedges. The Company’s accounting policies for these instruments are based on whether the instruments are classified as designated or non-designated hedging instruments. The Company records all derivatives on its Condensed Consolidated Balance Sheets at fair value. The changes in the fair value of highly effective designated cash flow hedges are recorded in Accumulated other comprehensive loss until the hedged item is recognized in earnings. Derivatives that are not designated as hedging instruments or are not assessed to be highly effective are adjusted to fair value through earnings. The amount of net unrealized loss on cash flow hedges was $13 million and $24 million as of April 2, 2021 and as of July 3, 2020, respectively. As of April 2, 2021, the amount of existing net losses related to cash flow hedges recorded in Accumulated other comprehensive loss included a net loss of $7 million that is expected to be reclassified to earnings within twelve months.

Fair Value Measures and Disclos

Fair Value Measures and Disclosures (Policies)	9 Months Ended
	Apr. 02, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments, Policy	Items Measured at Fair Value on a Non-Recurring BasisFrom time to time, the Company enters into certain strategic investments for the promotion of business and strategic objectives. These strategic investments primarily include cost basis investments representing those where the Company does not have the ability to exercise significant influence. These investments are included in Other assets, net on the Company’s Condensed Consolidated Balance Sheets, and are periodically analyzed to determine whether or not there are indicators of impairment.
Fair Value Measurement, Policy	Measurement of Fair Value Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. Fair Value Hierarchy A fair value hierarchy is based on whether the market participant assumptions used in determining fair value are obtained from independent sources (observable inputs) or reflect the Company’s own assumptions of market participant valuation (unobservable inputs). A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs that may be used to measure fair value are: Level 1 — Quoted prices in active markets that are unadjusted and accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2 — Quoted prices for identical assets and liabilities in markets that are inactive; quoted prices for similar assets and liabilities in active markets or financial instruments for which significant inputs are observable, either directly or indirectly; or Level 3 — Prices or valuations that require inputs that are both unobservable and significant to the fair value measurement. The Company considers an active market to be one in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis, and views an inactive market as one in which there are few transactions for the asset or liability, the prices are not current, or price quotations vary substantially either over time or among market makers. Where appropriate, the Company’s or the counterparty’s non-performance risk is considered in determining the fair values of liabilities and assets, respectively.

Balance Sheet Information (Tabl

Balance Sheet Information (Tables)	9 Months Ended	12 Months Ended
	Apr. 02, 2021	Jul. 03, 2020
Disclosure Text Block Supplement [Abstract]
Summary of Debt Securities, Available-for-sale	The following table summarizes, by major type, the fair value and amortized cost of the Company’s investments as of April 2, 2021: (Dollars in millions) Amortized Cost Unrealized Gain/(Loss) Fair Value Available-for-sale debt securities: Money market funds $ 531 $ — $ 531 Time deposits and certificates of deposit 1 — 1 Other debt securities 18 — 18 Total $ 550 $ — $ 550 Included in Cash and cash equivalents $ 530 Included in Other current assets 2 Included in Other assets, net 18 Total $ 550	The following table summarizes, by major type, the fair value and amortized cost of the Company’s investments as of July 3, 2020: (Dollars in millions) Amortized Cost Unrealized Gain/(Loss) Fair Value Available-for-sale debt securities: Money market funds $ 495 $ — $ 495 Time deposits and certificates of deposit 56 — 56 Other debt securities 18 — 18 Total $ 569 $ — $ 569 Included in Cash and cash equivalents $ 549 Included in Other current assets 2 Included in Other assets, net 18 Total $ 569
Fair value and amortized cost of available-for-sale securities by contractual maturity	The fair value and amortized cost of the Company’s investments classified as available-for-sale debt securities as of April 2, 2021, by remaining contractual maturity were as follows: (Dollars in millions) Amortized Cost Fair Value Due in less than 1 year $ 532 $ 532 Due in 1 to 5 years 10 10 Due in 6 to 10 years — — Thereafter 8 8 Total $ 550 $ 550
Cash, cash equivalents, and restricted cash	The following table provides a summary of cash, cash equivalents and restricted cash reported on the Company’s Condensed Consolidated Balance Sheets that reconciles to the corresponding amount in the Company’s Condensed Consolidated Statements of Cash Flows: (Dollars in millions) April 2, July 3, April 3, June 28, Cash and cash equivalents $ 1,212 $ 1,722 $ 1,612 $ 2,220 Restricted cash included in Other current assets 2 2 2 31 Total cash, cash equivalents and restricted cash presented in the Statements of Cash Flows $ 1,214 $ 1,724 $ 1,614 $ 2,251
Inventories	The following table provides details of the inventory balance sheet item: (Dollars in millions) April 2, July 3, Raw materials and components $ 412 $ 451 Work-in-process 443 313 Finished goods 426 378 Total inventories $ 1,281 $ 1,142
Property, Equipment and Leasehold Improvements, net	The components of property, equipment and leasehold improvements, net, were as follows: (Dollars in millions) April 2, July 3, Property, equipment and leasehold improvements $ 10,384 $ 10,212 Accumulated depreciation and amortization (8,169) (8,083) Property, equipment and leasehold improvements, net $ 2,215 $ 2,129
Accrued expenses	The following table provides details of the accrued expenses balance sheet item: (Dollars in millions) April 2, July 3, Dividends payable $ 154 $ 167 Other accrued expenses 495 435 Total accrued expenses $ 649 $ 602
Schedule of accumulated other comprehensive income (loss)	The components of AOCL, net of tax, were as follows: (Dollars in millions) Unrealized Gains/(Losses) on Cash Flow Hedges Unrealized Gains/(Losses) on Post-Retirement Plans Foreign Currency Translation Adjustments Total Balance at July 3, 2020 $ (24) $ (26) $ (16) $ (66) Other comprehensive income before reclassifications 20 — — 20 Amounts reclassified from AOCL (9) 2 15 8 Other comprehensive income 11 2 15 28 Balance at April 2, 2021 $ (13) $ (24) $ (1) $ (38) Balance at June 28, 2019 $ — $ (20) $ (14) $ (34) Other comprehensive (loss) income before reclassifications (27) 2 (8) (33) Amounts reclassified from AOCL — — — — Other comprehensive (loss) income (27) 2 (8) (33) Balance at April 3, 2020 $ (27) $ (18) $ (22) $ (67)

Debt (Tables)

Debt (Tables)	9 Months Ended
	Apr. 02, 2021
Debt Disclosure [Abstract]
Future principal payments on long-term debt	At April 2, 2021, future principal payments on long-term debt were as follows (in millions): Fiscal Year Amount Remainder of 2021 $ 6 2022 245 2023 566 2024 525 2025 504 Thereafter 3,376 Total $ 5,222

Leases (Tables)

Leases (Tables)	9 Months Ended
	Apr. 02, 2021
Leases [Abstract]
Operating Lease Cost	Operating lease costs include short-term lease costs and are shown net of immaterial sublease income. The components of lease costs and other information related to leases were as follows: For the Three Months Ended For the Nine Months Ended (Dollars in millions) April 2, April 3, April 2, April 3, Operating lease cost $ 4 $ 6 $ 11 $ 17 Variable lease cost 1 1 3 3 Total lease cost $ 5 $ 7 $ 14 $ 20 Operating cash outflows from operating leases $ 5 $ 4 $ 14 $ 13
Supplemental Balance Sheet Information	Right-of-use (“ROU”) assets and lease liabilities are included on the Company’s Condensed Consolidated Balance Sheets as follows: (Dollars in millions) Balance Sheet Location April 2, July 3, ROU assets Other assets, net $ 102 $ 103 Current lease liabilities Accrued expenses $ 15 $ 14 Non-current lease liabilities Other non-current liabilities $ 43 $ 49
Operating Lease Maturity	At April 2, 2021, future lease payments included in the measurement of lease liabilities were as follows (in millions): Fiscal Year Amount Remainder of 2021 $ 4 2022 16 2023 12 2024 7 2025 5 Thereafter 25 Total lease payments 69 Less: imputed interest (11) Present value of lease liabilities $ 58

Restructuring and Exit Costs Re

Restructuring and Exit Costs Restructuring and Exit Costs (Tables)	9 Months Ended
	Apr. 02, 2021
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	The following tables summarize the Company’s restructuring activities under the Company’s restructuring plans: June 2020 Plan Other Plans (Dollars in millions) Workforce Reduction Costs Facilities and Other Exit Costs Workforce Reduction Costs Facilities and Other Exit Costs Total Accrual balances at July 3, 2020 $ 38 $ 2 $ 5 $ 3 $ 48 Restructuring charges — — 5 — 5 Cash payments (37) (1) (8) (1) (47) Adjustments — — — (1) (1) Accrual balances at April 2, 2021 $ 1 $ 1 $ 2 $ 1 $ 5 Total costs incurred to date as of April 2, 2021 $ 56 $ 2 $ 21 $ 28 $ 107 Total expected charges to be incurred as of April 2, 2021 $ — $ 7 $ — $ — $ 7

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Apr. 02, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of notional value of outstanding foreign currency forward exchange contracts	The following tables show the total notional value of the Company’s outstanding foreign currency forward exchange contracts as of April 2, 2021 and July 3, 2020. All foreign currency forward exchange contracts mature within 12 months. As of April 2, 2021 (Dollars in millions) Contracts Designated as Hedges Contracts Not Designated as Hedges Singapore Dollar $ 165 $ 53 Thai Baht 131 38 Chinese Renminbi 72 22 British Pound Sterling 56 14 $ 424 $ 127 As of July 3, 2020 (Dollars in millions) Contracts Designated as Hedges Contracts Not Designated as Hedges Singapore Dollar $ 187 $ 56 Thai Baht 157 42 Chinese Renminbi 81 25 British Pound Sterling 64 20 $ 489 $ 143
Schedule of gross fair value of derivative instruments	The following tables show the Company’s derivative instruments measured at gross fair value as reflected in the Condensed Consolidated Balance Sheets as of April 2, 2021 and July 3, 2020: As of April 2, 2021 Derivative Assets Derivative Liabilities (Dollars in millions) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments: Foreign currency forward exchange contracts Other current assets $ 2 Accrued expenses $ (2) Interest rate swap Other current assets — Accrued expenses (13) Derivatives not designated as hedging instruments: Foreign currency forward exchange contracts Other current assets 2 Accrued expenses (1) Total return swap Other current assets 2 Accrued expenses — Total derivatives $ 6 $ (16) As of July 3, 2020 Derivative Assets Derivative Liabilities (Dollars in millions) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments: Foreign currency forward exchange contracts Other current assets $ 3 Accrued expenses $ — Interest rate swap Other current assets — Accrued expenses (27) Derivatives not designated as hedging instruments: Foreign currency forward exchange contracts Other current assets 2 Accrued expenses (2) Total return swap Other current assets 1 Accrued expenses — Total derivatives $ 6 $ (29)
Schedule of the effect of derivative instruments on Other comprehensive income (loss) and the Consolidated Statement of Operations	The following tables show the effect of the Company’s derivative instruments on the Condensed Consolidated Statements of Comprehensive Income and the Condensed Consolidated Statements of Operations for the three and nine months ended April 2, 2021: Amount of Gain/(Loss) Recognized in Income on Derivatives (Dollars in millions) Derivatives Not Designated as Hedging Instruments Location of Gain/(Loss) Recognized in Income on Derivatives For the Three Months For the Nine Months Foreign currency forward exchange contracts Other, net $ (3) $ 11 Total return swap Operating expenses 6 22 The following tables show the effect of the Company’s derivative instruments on the Condensed Consolidated Statements of Comprehensive Income and the Condensed Consolidated Statements of Operations for the three and nine months ended April 3, 2020 : (Dollars in millions) Derivatives Not Designated as Hedging Instruments Location of Gain/(Loss) Recognized in Income on Derivatives Amount of Gain/(Loss) Recognized in Income on Derivatives For the Three Months For the Nine Months Foreign currency forward exchange contracts Other, net $ (3) $ (5) Total return swap Operating expenses $ (23) $ (16)

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Apr. 02, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables present the Company’s assets and liabilities, by financial instrument type and balance sheet line item, that are measured at fair value on a recurring basis, excluding accrued interest components, as of April 2, 2021: Fair Value Measurements at Reporting Date Using (Dollars in millions) Quoted Prices in Active Markets for Identical Instruments (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Balance Assets: Money market funds $ 530 $ — $ — $ 530 Total cash equivalents 530 — — 530 Restricted cash and investments: Money market funds 1 — — 1 Time deposits and certificates of deposit — 1 — 1 Other debt securities — — 18 18 Derivative assets — 6 — 6 Total assets $ 531 $ 7 $ 18 $ 556 Liabilities: Derivative liabilities $ — $ 16 $ — $ 16 Total liabilities $ — $ 16 $ — $ 16 The following tables present the Company’s assets and liabilities, by financial instrument type and balance sheet line item, that are measured at fair value on a recurring basis, excluding accrued interest components, as of July 3, 2020: Fair Value Measurements at Reporting Date Using (Dollars in millions) Quoted Prices in Active Markets for Identical Instruments (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Balance Assets: Money market funds $ 494 $ — $ — $ 494 Time deposits and certificates of deposit — 55 — 55 Total cash equivalents 494 55 — 549 Restricted cash and investments: Money market funds 1 — — 1 Time deposits and certificates of deposit — 1 — 1 Other debt securities — — 18 18 Derivative assets — 6 — 6 Total assets $ 495 $ 62 $ 18 $ 575 Liabilities: Derivative liabilities $ — $ 29 $ — $ 29 Total liabilities $ — $ 29 $ — $ 29
Schedule of Fair Value, by Balance Sheet Grouping, Measured on Recurring Basis	Fair Value Measurements at Reporting Date Using (Dollars in millions) Quoted Prices in Active Markets for Identical Instruments (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Balance Assets: Cash and cash equivalents $ 530 $ — $ — $ 530 Other current assets 1 7 — 8 Other assets, net — — 18 18 Total assets $ 531 $ 7 $ 18 $ 556 Liabilities: Accrued expenses $ — $ 16 $ — $ 16 Total liabilities $ — $ 16 $ — $ 16 Fair Value Measurements at Reporting Date Using (Dollars in millions) Quoted Prices in Active Markets for Identical Instruments (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Balance Assets: Cash and cash equivalents $ 494 $ 55 $ — $ 549 Other current assets 1 7 — 8 Other assets, net — — 18 18 Total assets $ 495 $ 62 $ 18 $ 575 Liabilities: Accrued expenses $ — $ 29 $ — $ 29 Total liabilities $ — $ 29 $ — $ 29

Equity (Tables)

Equity (Tables)	9 Months Ended
	Apr. 02, 2021
Equity [Abstract]
Schedule of Share Repurchases	The following table sets forth information with respect to repurchases of ordinary shares during the nine months ended April 2, 2021: (In millions) Number of Shares Repurchased Dollar Value of Shares Repurchased Repurchases of ordinary shares 30 $ 1,830 Tax withholding related to vesting of equity awards 1 33 Total 31 $ 1,863

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Apr. 02, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table provides information about disaggregated revenue by sales channel and geographical region for the Company’s single reportable segment: For the Three Months Ended For the Nine Months Ended (Dollars in millions) April 2, April 3, April 2, April 3, Revenues by Channel Original equipment manufacturers $ 1,950 $ 1,970 $ 5,299 $ 5,633 Distributors 455 465 1,297 1,389 Retailers 326 283 1,072 970 Total $ 2,731 $ 2,718 $ 7,668 $ 7,992 Revenues by Geography (1) Asia Pacific $ 1,268 $ 1,257 $ 3,680 $ 3,912 Americas 939 938 2,582 2,534 EMEA 524 523 1,406 1,546 Total $ 2,731 $ 2,718 $ 7,668 $ 7,992 _________________________________ (1) Revenue is attributed to countries based on bill from locations.

Guarantees (Tables)

Guarantees (Tables)	9 Months Ended
	Apr. 02, 2021
Guarantees [Abstract]
Schedule of Product Warranty Liability	Changes in the Company’s product warranty liability during the nine months ended April 2, 2021 and April 3, 2020 were as follows: For the Nine Months Ended (Dollars in millions) April 2, April 3, Balance, beginning of period $ 151 $ 195 Warranties issued 56 67 Repairs and replacements (62) (65) Changes in liability for pre-existing warranties, including expirations (11) (34) Balance, end of period $ 134 $ 163

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Apr. 02, 2021
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted net income (loss) per share	The following table sets forth the computation of basic and diluted net income per share attributable to the shareholders of the Company: For the Three Months Ended For the Nine Months Ended (In millions, except per share data) April 2, April 3, April 2, April 3, Numerator: Net income $ 329 $ 320 $ 832 $ 838 Number of shares used in per share calculations: Total shares for purposes of calculating basic net income per share 233 261 246 263 Weighted-average effect of dilutive securities: Employee equity award plans 4 2 3 3 Total shares for purpose of calculating diluted net income per share 237 263 249 266 Net income per share: Basic $ 1.41 $ 1.23 $ 3.38 $ 3.19 Diluted 1.39 1.22 3.34 3.15

Balance Sheet Information (Summ

Balance Sheet Information (Summary of fair value and amortized cost of investments, by major type) (Details) - USD ($) $ in Millions	Apr. 02, 2021	Jul. 03, 2020
Available-for-sale debt securities:
Amortized Cost	$ 550	$ 569
Unrealized Gain/(Loss)	0	0
Fair Value	550	569
Cash and cash equivalents [Member]
Available-for-sale debt securities:
Fair Value	530	549
Other current assets [Member]
Available-for-sale debt securities:
Fair Value	2	2
Other Assets [Member]
Available-for-sale debt securities:
Fair Value	18	18
Money market funds [Member]
Available-for-sale debt securities:
Amortized Cost	531	495
Unrealized Gain/(Loss)	0	0
Fair Value	531	495
Time deposits and certificates of deposit [Member]
Available-for-sale debt securities:
Amortized Cost	1	56
Unrealized Gain/(Loss)	0	0
Fair Value	1	$ 56
Other debt securities
Available-for-sale debt securities:
Amortized Cost	18
Unrealized Gain/(Loss)	0
Fair Value	$ 18

Balance Sheet Information Balan

Balance Sheet Information Balance Sheet Information (Available-for-Sale Debt Securities) (Details) - USD ($)	Jul. 03, 2020	Apr. 02, 2021	Apr. 03, 2020	Jun. 28, 2019
Schedule of Held-to-maturity Securities [Line Items]
Restricted cash included in Other current assets	$ 2,000,000	$ 2,000,000	$ 2,000,000	$ 31,000,000
Available-for-sale securities, continuous unrealized loss position, fair value	0	0
Other than temporary impairment losses, investments, available-for-sale securities	0	$ 0
Available-for-sale Securities [Member]
Schedule of Held-to-maturity Securities [Line Items]
Restricted cash included in Other current assets	$ 2,000,000

Balance Sheet Information (Fair

Balance Sheet Information (Fair value and amortized cost of available-for-sale securities by contractual maturity) (Details) - USD ($) $ in Millions	Apr. 02, 2021	Jul. 03, 2020
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	$ 550	$ 569
Unrealized Gain/(Loss)	0	0
Fair Value	550	569
Amortized Cost
Amortized cost, due in less than 1 year	532
Amortized cost, due in 1 to 5 years	10
Amortized cost, due in 6 to 10 years	0
Amortized cost, thereafter	8
Amortized Cost	550
Fair Value
Fair value, due in less than 1 year	532
Fair value, due in 1 to 5 years	10
Fair value, due in 6 to 10 years	0
Fair value, thereafter	8
Fair Value	550
Money market funds [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	531	495
Unrealized Gain/(Loss)	0	0
Fair Value	531	495
Time deposits and certificates of deposit [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	1	56
Unrealized Gain/(Loss)	0	0
Fair Value	1	56
Other Debt Obligations [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Available-for-sale, Amortized Cost		18
Unrealized Gain/(Loss)		0
Fair Value		18
Cash and cash equivalents [Member]
Schedule of Held-to-maturity Securities [Line Items]
Fair Value	530	549
Other current assets [Member]
Schedule of Held-to-maturity Securities [Line Items]
Fair Value	2	2
Other Assets [Member]
Schedule of Held-to-maturity Securities [Line Items]
Fair Value	$ 18	$ 18

Balance Sheet Information (Cash

Balance Sheet Information (Cash, Cash Equivalents, and Restricted Cash) (Details) - USD ($) $ in Millions	Apr. 02, 2021	Jul. 03, 2020	Apr. 03, 2020	Jun. 28, 2019
Investments, Debt and Equity Securities [Abstract]
Cash and cash equivalents	$ 1,212	$ 1,722	$ 1,612	$ 2,220
Restricted cash included in Other current assets	2	2	2	31
Total cash, cash equivalents and restricted cash presented in the Statements of Cash Flows	$ 1,214	$ 1,724	$ 1,614	$ 2,251

Balance Sheet Information Bal_2

Balance Sheet Information Balance Sheet Information (Accounts Receivable, net) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Apr. 02, 2021	Apr. 02, 2021	Apr. 03, 2020
Cash proceeds from sales of trade receivables			$ 79
Continuing Involvement with Continued to be Recognized Transferred Financial Assets, Amount Outstanding	$ 35	$ 35
Factored Trade Receivable
Proceeds from Sale and Collection of Receivables	$ 35	$ 183

Balance Sheet Information (Inve

Balance Sheet Information (Inventories) (Details) - USD ($) $ in Millions	Apr. 02, 2021	Jul. 03, 2020
Inventory, Net [Abstract]
Raw materials and components	$ 412	$ 451
Work-in-process	443	313
Finished goods	426	378
Total inventories	$ 1,281	$ 1,142

Balance Sheet Information (Prop

Balance Sheet Information (Property, Equipment and Leasehold Improvements, net) (Details) - USD ($) $ in Millions	Apr. 02, 2021	Jul. 03, 2020
Property, Plant and Equipment, Net [Abstract]
Property, equipment and leasehold improvements	$ 10,384	$ 10,212
Accumulated depreciation and amortization	(8,169)	(8,083)
Property, equipment and leasehold improvements, net	$ 2,215	$ 2,129

Balance Sheet Information (Accr

Balance Sheet Information (Accrued expenses) (Details) - USD ($)	Apr. 02, 2021	Jul. 03, 2020
Payables and Accruals [Abstract]
Dividends payable	$ 154,000,000	$ 167,000,000
Other accrued expenses	495,000,000	435,000,000
Total accrued expenses	$ 649,000,000	$ 602,000,000

Balance Sheet Information (AOCI

Balance Sheet Information (AOCI) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 02, 2021	Apr. 03, 2020	Apr. 02, 2021	Apr. 03, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	$ 4	$ (29)		$ (27)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax	1	2		2
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	990	1,830	$ 1,787	2,162
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	7	1		0
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax	0	0		0
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	(3)	(30)	11	(27)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	(1)	(2)	(2)	(2)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	0	(6)	15	(8)
Other comprehensive income	(2)	(34)	28	(33)
Ending balance	484	1,792	484	1,792
Accumulated Other Comprehensive Loss [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(36)	(33)	(66)	(34)
Other comprehensive income before reclassifications			20	(33)
Amounts reclassified from AOCL			8	0
Other comprehensive income			28	(33)
Ending balance	(38)	(67)	(38)	(67)
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax			20	(27)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(24)	0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax			9	0
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax			11	(27)
Ending balance	(13)	(27)	(13)	(27)
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, after Tax			0	2
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(26)	(20)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax			(2)	0
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax			2	2
Ending balance	(24)	(18)	(24)	(18)
Foreign currency translation adjustments [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(16)	(14)
Other comprehensive income before reclassifications			0	(8)
Amounts reclassified from AOCL			15	0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax			15	(8)
Ending balance	$ (1)	$ (22)	$ (1)	$ (22)

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)

Sep. 17, 2019

Feb. 20, 2019

Apr. 02, 2021

Apr. 03, 2020

Apr. 02, 2021

Apr. 03, 2020

Jan. 15, 2029

Jan. 15, 2028

Jan. 15, 2027

Jan. 15, 2026

Jan. 15, 2025

Jul. 15, 2031

Jan. 15, 2024

Jul. 15, 2029

Jan. 15, 2026

Jan. 13, 2021

Dec. 08, 2020

Jun. 18, 2020

Jun. 10, 2020

Sep. 18, 2019

Feb. 03, 2017

May 14, 2015

Dec. 02, 2014

May 28, 2014

May 22, 2013

Debt Instrument [Line Items]

Repayments of Long-term Debt

$ 27,000,000

$ 685,000,000

Other Nonoperating Income (Expense) [Member] | Cost-method investments [Member]

Debt Instrument [Line Items]

Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount

$ 10,000,000

$ 0

33,000,000

0

Senior note 3.125 percent due July 2029 [Member] | Forecast

Debt Instrument [Line Items]

Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed

100.781%

101.563%

100.00%

100.00%

stx_DebtInstrumentAdditonalRedemptionPricePercentageOfPrincipalAmountRedeemed

1.00%

Debt Instrument, Basis Spread on Variable Rate

50.00%

Debt Instrument, Redemption Price With Cash Proceeds From Equity Offering, Percentage Of Principal AmountRedeemed

103.125%

Debt Instrument, Redemption With Cash Proceeds From Equity Offering, Percentage Of Principal Amount

40.00%

Senior Notes 3.375 Percent due July 2031 [Member] | Forecast

Debt Instrument [Line Items]

Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed

100.563%

101.125%

101.688%

100.00%

100.00%

stx_DebtInstrumentAdditonalRedemptionPricePercentageOfPrincipalAmountRedeemed

1.00%

Debt Instrument, Basis Spread on Variable Rate

50.00%

Debt Instrument, Redemption Price With Cash Proceeds From Equity Offering, Percentage Of Principal AmountRedeemed

103.375%

Debt Instrument, Redemption With Cash Proceeds From Equity Offering, Percentage Of Principal Amount

40.00%

2019 Revolving Credit Facility | Revolving Credit Facility

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 1,725,000,000

Line of credit facility, accordion feature, increase limit

275,000,000

Line of credit facility, percentage of most favored nation protection

0.50%

Amount of borrowings drawn

$ 0

Line of Credit Facility, Amount Less Than the Guarantee Requirement

$ 100,000,000

2019 Revolving Credit Facility | Line of Credit [Member]

Debt Instrument [Line Items]

Sub-limit for issuance of letters of credit under revolving credit facility

$ 75,000,000

2019 Revolving Credit Facility | Bridge Loan [Member]

Debt Instrument [Line Items]

Line of credit facility, capacity available for specific purpose other than for trade purchases

50,000,000

Term Loan | Revolving Credit Facility

Debt Instrument [Line Items]

Redemption price

1.25%

Term Loan | Term Loan

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

500,000,000

Amount of borrowings drawn

$ 500,000,000

Repayments of Long-term Debt

$ 6,000,000

$ 12,000,000

Senior Notes | Senior Notes 4.25 Percent Due March 2022 [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 750,000,000

Stated interest rate (as a percent)

4.25%

Debt Instrument, Repurchase Amount (3 Months)

23,000,000

Amount of debt repurchased

$ 250,000,000

Gain (loss) on repurchase of debt instrument

10,000,000

Debt Instrument, Repurchase Amount (9 Months)

9,000,000

273,000,000

Senior Notes | Senior Notes 4.75 Percent Due June 2023 [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 1,000,000,000

Stated interest rate (as a percent)

4.75%

Debt Instrument, Repurchase Amount (3 Months)

$ 17,000,000

Amount of debt repurchased

$ 200,000,000

Gain (loss) on repurchase of debt instrument

1,000,000

10,000,000

Debt Instrument, Repurchase Amount (9 Months)

$ 5,000,000

217,000,000

Senior Notes | Senior Notes 4.875 Percent Due March 2024 [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 500,000,000

Stated interest rate (as a percent)

4.875%

Senior Notes | Senior Notes 4.75 Percent Due January 2025 [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 1,000,000,000

Stated interest rate (as a percent)

4.75%

Gain (loss) on repurchase of debt instrument

8,000,000

Debt Instrument, Repurchase Amount (9 Months)

$ 170,000,000

Senior Notes | Senior Notes 4.875 percent Due June 2027 [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 700,000,000

Stated interest rate (as a percent)

4.875%

Senior Notes | Senior note 5.75 percent due December 2034 [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 500,000,000

Stated interest rate (as a percent)

5.75%

Senior Notes | Senior note 4.091 percent due June 2029

Debt Instrument [Line Items]

Aggregate principal amount

$ 500,000,000

Stated interest rate (as a percent)

4.091%

Senior Notes | Senior note 5.75 percent due December 2034 [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 500,000,000

Stated interest rate (as a percent)

4.125%

Senior Notes | Senior note 3.125 percent due July 2029 [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 500,000,000

Stated interest rate (as a percent)

3.125%

Senior Notes | Senior Notes 3.375 Percent due July 2031 [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 500,000,000

Stated interest rate (as a percent)

3.375%

Minimum | 2019 Revolving Credit Facility | Revolving Credit Facility

Debt Instrument [Line Items]

Line of credit facility, accordion feature, increase limit

$ 25,000,000

Debt (Future principal payments

Debt (Future principal payments on long-term debt) (Details) $ in Millions	Apr. 02, 2021USD ($)
Debt Disclosure [Abstract]
Repayments of long-term debt, remainder of 2021	$ 6
Repayments of long-term debt, 2022	245
Repayments of long-term debt, 2023	566
Repayments of long-term debt, 2024	525
Repayments of long-term debt, 2025	504
Thereafter	3,376
Total future principal payments on long-term debt	$ 5,222

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 02, 2021	Apr. 03, 2020	Apr. 02, 2021	Apr. 03, 2020
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 10	$ 18	$ 19	$ 34
Net discrete tax expense	(4)		(15)
Discrete tax expense (benefit)				$ 13
Unrecognized Tax Benefits	$ 107		$ 107
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	25.00%	25.00%	25.00%	25.00%
Unrecognized tax benefits, period increase (decrease)			$ 18

Leases - Operating Lease Costs

Leases - Operating Lease Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 02, 2021	Apr. 03, 2020	Apr. 02, 2021	Apr. 03, 2020	Jul. 03, 2020
Leases [Abstract]
Operating lease cost	$ 4	$ 6	$ 11	$ 17
Variable lease cost	1	1	3	3
Total lease cost	5	7	14	20
Operating cash outflows from operating leases	$ 5	$ 4	$ 14	$ 13
Weighted-average remaining lease term	7 years 1 month 6 days		7 years 1 month 6 days		13 years 2 months 12 days
Weighted-average discount rate	6.02%		6.02%		6.53%

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Apr. 02, 2021	Jul. 03, 2020
Leases [Abstract]
ROU assets	$ 102	$ 103
Current lease liabilities	15	14
Non-current lease liabilities	$ 43	$ 49

Leases - Lease Maturity (Detail

Leases - Lease Maturity (Details) $ in Millions	Apr. 02, 2021USD ($)
Leases [Abstract]
Remainder of 2021	$ 4
2022	16
2023	12
2024	7
2025	5
Thereafter	25
Total lease payments	69
Less: imputed interest	(11)
Present value of lease liabilities	$ 58

Restructuring and Exit Costs (D

Restructuring and Exit Costs (Details) $ in Millions	Jun. 01, 2020numberOfEmployees	Apr. 02, 2021USD ($)	Apr. 02, 2021USD ($)	Apr. 03, 2020USD ($)
Restructuring and Related Activities [Abstract]
Approximate headcount reduction | numberOfEmployees	500
Restructuring Reserve [Roll Forward]
Gain (Loss) on Sale of Assets and Asset Impairment Charges		$ 3
Employee severance [Member] | Other Restructuring Plans [Member]
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning balance			$ 5	$ 13
Restructuring charges			5	22
Cash payments			(8)	(29)
Adjustments			0	(4)
Lease adoption adjustment				0
Restructuring accrual, ending balance		2	2	2
Total costs incurred to date as of April 2, 2021			21
Total expected charges to be incurred as of April 2, 2021		0	0
Employee severance [Member] | June 2020 Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning balance			38
Restructuring charges			0
Cash payments			(37)
Adjustments			0
Restructuring accrual, ending balance		1	1
Total costs incurred to date as of April 2, 2021			56
Total expected charges to be incurred as of April 2, 2021		0	0
Facility closing [Member] | Other Restructuring Plans [Member]
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning balance			3	17
Restructuring charges			0	1
Cash payments			(1)	(3)
Adjustments			(1)	0
Lease adoption adjustment				(11)
Restructuring accrual, ending balance		1	1	4
Total costs incurred to date as of April 2, 2021			28
Total expected charges to be incurred as of April 2, 2021		0	0
Facility closing [Member] | June 2020 Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning balance			2
Restructuring charges			0
Cash payments			(1)
Adjustments			0
Restructuring accrual, ending balance		1	1
Total costs incurred to date as of April 2, 2021			2
Total expected charges to be incurred as of April 2, 2021		7	7
Restructuring Charges [Member]
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning balance			48	30
Restructuring charges			5	23
Cash payments			(47)	(32)
Adjustments			(1)	(4)
Lease adoption adjustment				(11)
Restructuring accrual, ending balance		5	5	$ 6
Total costs incurred to date as of April 2, 2021			107
Total expected charges to be incurred as of April 2, 2021		$ 7	$ 7

Derivative Financial Instrume_3

Derivative Financial Instruments Derivative Financial Instruments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 02, 2021	Apr. 03, 2020	Apr. 02, 2021	Apr. 03, 2020	Jul. 03, 2020	Oct. 04, 2019
Interest Rate Swap | Other Nonoperating Income (Expense) [Member]
Derivative Financial Instruments
Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	$ (1)	$ 1	$ (5)	$ 1
Amount of Gain/(Loss) Recognized in OCI on Derivatives (Effective Portion)	9	(27)	10	(25)
Amount of Gain/(Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)	0	0	0	0
Cash Flow Hedging [Member]
Derivative Financial Instruments
Unrealized Gain (Loss) on Cash Flow Hedging Instruments			(13)		$ (24)
Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months	7		7
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion		$ (1)		$ (1)
Cash Flow Hedging [Member] | Other Nonoperating Income (Expense) [Member]
Derivative Financial Instruments
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion	(1)		(5)
Cash Flow Hedging [Member] | Cost of Sales [Member]
Derivative Financial Instruments
Derivative Instruments, Gain Reclassified from Accumulated OCI into Income, Effective Portion	(8)		(12)
Designated as Hedging Instrument [Member] | Interest Rate Swap
Derivative Financial Instruments
Derivative, notional amount	488		488			$ 500
Derivatives not designated as hedging instruments [Member] | Total Return Swap [Member]
Derivative Financial Instruments
Derivative, notional amount	$ 120		$ 120

Derivative Financial Instrume_4

Derivative Financial Instruments (Schedule of the effect of derivative instruments on Other comprehensive income (loss) and the Consolidated Statement of Operations) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 02, 2021	Apr. 03, 2020	Apr. 02, 2021	Apr. 03, 2020
Foreign currency forward exchange contracts [Member] | Other Nonoperating Income (Expense) [Member]
Derivatives Instruments, Gain (Loss)
Amount of Gain/(Loss) Recognized in Income on Derivatives	$ (3)	$ (3)	$ 11	$ (5)
Amount of Gain/(Loss) Recognized in OCI on Derivatives (Effective Portion)	(5)	(2)	10	(2)
Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		0		(1)
Amount of Gain/(Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)	(1)	0	0	0
Foreign currency forward exchange contracts [Member] | Cost of Sales [Member]
Derivatives Instruments, Gain (Loss)
Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	8		12
Interest Rate Swap | Other Nonoperating Income (Expense) [Member]
Derivatives Instruments, Gain (Loss)
Amount of Gain/(Loss) Recognized in OCI on Derivatives (Effective Portion)	9	(27)	10	(25)
Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	(1)	1	(5)	1
Amount of Gain/(Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)	0	0	0	0
Interest Rate Swap | Operating Expense [Member]
Derivatives Instruments, Gain (Loss)
Amount of Gain/(Loss) Recognized in Income on Derivatives		$ (23)		$ (16)
Total Return Swap [Member] | Operating Expense [Member]
Derivatives Instruments, Gain (Loss)
Amount of Gain/(Loss) Recognized in Income on Derivatives	$ 6		$ 22

Derivative Financial Instrume_5

Derivative Financial Instruments Derivative Financial Instruments (Schedule of notional value of outstanding foreign currency forward exchange contracts) (Details) - Foreign currency forward exchange contracts [Member] - USD ($) $ in Millions	Apr. 02, 2021	Jul. 03, 2020
Designated as Hedging Instrument [Member]
Derivative Financial Instruments
Derivative, notional amount	$ 424	$ 489
Derivatives not designated as hedging instruments [Member]
Derivative Financial Instruments
Derivative, notional amount	127	143
Singapore, Dollars | Designated as Hedging Instrument [Member]
Derivative Financial Instruments
Derivative, notional amount	165	187
Singapore, Dollars | Derivatives not designated as hedging instruments [Member]
Derivative Financial Instruments
Derivative, notional amount	53	56
China, Yuan Renminbi | Designated as Hedging Instrument [Member]
Derivative Financial Instruments
Derivative, notional amount	72	81
China, Yuan Renminbi | Derivatives not designated as hedging instruments [Member]
Derivative Financial Instruments
Derivative, notional amount	22	25
United Kingdom, Pounds | Designated as Hedging Instrument [Member]
Derivative Financial Instruments
Derivative, notional amount	56	64
United Kingdom, Pounds | Derivatives not designated as hedging instruments [Member]
Derivative Financial Instruments
Derivative, notional amount	14	20
Thailand, Baht | Designated as Hedging Instrument [Member]
Derivative Financial Instruments
Derivative, notional amount	131	157
Thailand, Baht | Derivatives not designated as hedging instruments [Member]
Derivative Financial Instruments
Derivative, notional amount	$ 38	$ 42

Derivative Financial Instrume_6

Derivative Financial Instruments Derivative Financial Instruments (Schedule of gross fair value of derivative instruments) (Details) - USD ($) $ in Millions	Apr. 02, 2021	Jul. 03, 2020
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	$ 6	$ 6
Derivative liability, fair value, gross liability	(16)	(29)
Foreign currency forward exchange contracts [Member] | Designated as Hedging Instrument [Member] | Other current assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	2	3
Foreign currency forward exchange contracts [Member] | Designated as Hedging Instrument [Member] | Accrued Expenses [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, fair value, gross liability	(2)	0
Foreign currency forward exchange contracts [Member] | Derivatives not designated as hedging instruments [Member] | Other current assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	2	2
Foreign currency forward exchange contracts [Member] | Derivatives not designated as hedging instruments [Member] | Accrued Expenses [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, fair value, gross liability	(1)	(2)
Interest Rate Swap | Designated as Hedging Instrument [Member] | Other current assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	0
Interest Rate Swap | Designated as Hedging Instrument [Member] | Accrued Expenses [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, fair value, gross liability	(13)	(27)
Total Return Swap [Member] | Derivatives not designated as hedging instruments [Member] | Other current assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	(2)	(1)
Total Return Swap [Member] | Derivatives not designated as hedging instruments [Member] | Accrued Expenses [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, fair value, gross liability	$ 0	$ 0

Fair Value (Schedule of Fair Va

Fair Value (Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis) (Details) - Recurring basis [Member] - USD ($) $ in Thousands	Apr. 02, 2021	Jul. 03, 2020
Assets:
Total cash equivalents	$ 530,000	$ 549,000
Restricted cash and investments:
Total assets	556,000	575,000
Liabilities:
Total liabilities	16,000	(29,000)
Money market funds [Member]
Assets:
Total cash equivalents	530,000	494,000
Restricted cash and investments:
Restricted cash and investments:	1,000	1,000
Time deposits and certificates of deposit [Member]
Assets:
Total cash equivalents		55,000
Restricted cash and investments:
Restricted cash and investments:	1,000	1,000
Other debt securities
Restricted cash and investments:
Restricted cash and investments:	18,000	18,000
Quoted Prices in Active Markets for Identical Instruments (Level 1) [Member]
Assets:
Total cash equivalents	530,000	494,000
Restricted cash and investments:
Total assets	531,000	495,000
Liabilities:
Total liabilities	0	0
Quoted Prices in Active Markets for Identical Instruments (Level 1) [Member] | Money market funds [Member]
Assets:
Total cash equivalents	530,000	494,000
Restricted cash and investments:
Restricted cash and investments:	1,000	1,000
Quoted Prices in Active Markets for Identical Instruments (Level 1) [Member] | Time deposits and certificates of deposit [Member]
Assets:
Total cash equivalents		0
Restricted cash and investments:
Restricted cash and investments:	0	0
Quoted Prices in Active Markets for Identical Instruments (Level 1) [Member] | Other debt securities
Restricted cash and investments:
Restricted cash and investments:	0	0
Significant Other Observable Inputs (Level 2) [Member]
Assets:
Total cash equivalents	0	55,000
Restricted cash and investments:
Total assets	7,000	62,000
Liabilities:
Total liabilities	16,000	(29,000)
Significant Other Observable Inputs (Level 2) [Member] | Money market funds [Member]
Assets:
Total cash equivalents	0	0
Restricted cash and investments:
Restricted cash and investments:	0	0
Significant Other Observable Inputs (Level 2) [Member] | Time deposits and certificates of deposit [Member]
Assets:
Total cash equivalents		55,000
Restricted cash and investments:
Restricted cash and investments:	1,000	1,000
Significant Other Observable Inputs (Level 2) [Member] | Other debt securities
Restricted cash and investments:
Restricted cash and investments:	0	0
Significant Unobservable Inputs (Level 3) [Member]
Assets:
Total cash equivalents	0	0
Restricted cash and investments:
Total assets	18,000	18,000
Liabilities:
Total liabilities	0	0
Significant Unobservable Inputs (Level 3) [Member] | Money market funds [Member]
Assets:
Total cash equivalents	0	0
Restricted cash and investments:
Restricted cash and investments:	0	0
Significant Unobservable Inputs (Level 3) [Member] | Time deposits and certificates of deposit [Member]
Assets:
Total cash equivalents		0
Restricted cash and investments:
Restricted cash and investments:	0	0
Significant Unobservable Inputs (Level 3) [Member] | Other debt securities
Restricted cash and investments:
Restricted cash and investments:	18,000	18,000
Derivative Financial Instruments, Assets [Member]
Restricted cash and investments:
Derivative assets	6,000	6,000
Derivative Financial Instruments, Assets [Member] | Quoted Prices in Active Markets for Identical Instruments (Level 1) [Member]
Restricted cash and investments:
Derivative assets	0	0
Derivative Financial Instruments, Assets [Member] | Significant Other Observable Inputs (Level 2) [Member]
Restricted cash and investments:
Derivative assets	6,000	6,000
Derivative Financial Instruments, Assets [Member] | Significant Unobservable Inputs (Level 3) [Member]
Restricted cash and investments:
Derivative assets	0	0
Derivative Financial Instruments, Liabilities [Member]
Liabilities:
Derivative liabilities	16,000	(29,000)
Derivative Financial Instruments, Liabilities [Member] | Quoted Prices in Active Markets for Identical Instruments (Level 1) [Member]
Liabilities:
Derivative liabilities	0	0
Derivative Financial Instruments, Liabilities [Member] | Significant Other Observable Inputs (Level 2) [Member]
Liabilities:
Derivative liabilities	16,000	(29,000)
Derivative Financial Instruments, Liabilities [Member] | Significant Unobservable Inputs (Level 3) [Member]
Liabilities:
Derivative liabilities	$ 0	$ 0

Fair Value (Schedule of Fair _2

Fair Value (Schedule of Fair Value, by Balance Sheet Grouping, Measured on Recurring Basis) (Details) - Recurring basis [Member] - USD ($) $ in Millions	Apr. 02, 2021	Jul. 03, 2020
Assets:
Cash and cash equivalents	$ 530	$ 549
Other current assets	8	8
Other current assets	18	18
Total assets	556	575
Liabilities:
Accrued expenses	16	29
Total liabilities	16	(29)
Quoted Prices in Active Markets for Identical Instruments (Level 1) [Member]
Assets:
Cash and cash equivalents	530	494
Other current assets	1	1
Other current assets	0	0
Total assets	531	495
Liabilities:
Accrued expenses	0	0
Total liabilities	0	0
Significant Other Observable Inputs (Level 2) [Member]
Assets:
Cash and cash equivalents	0	55
Other current assets	7	7
Other current assets	0	0
Total assets	7	62
Liabilities:
Accrued expenses	16	29
Total liabilities	16	(29)
Significant Unobservable Inputs (Level 3) [Member]
Assets:
Cash and cash equivalents	0	0
Other current assets	0	0
Other current assets	18	18
Total assets	18	18
Liabilities:
Accrued expenses	0	0
Total liabilities	$ 0	$ 0

Fair Value (Schedule of Carryin

Fair Value (Schedule of Carrying Values and Estimated Fair Values of Debt Instruments) (Details) - USD ($) $ in Millions	Apr. 02, 2021	Jul. 03, 2020
Debt Fair Value Disclosures
Less: current portion of debt, net of debt issuance costs	$ (245)	$ (19)
Long-term debt, less current portion, net of debt issuance costs	4,897	4,156
Reported Value Measurement [Member]
Debt Fair Value Disclosures
Long-term debt, gross	5,178	4,200
Debt issuance costs	(36)	(25)
Debt, net of debt issuance costs	5,142	4,175
Less: current portion of debt, net of debt issuance costs	(245)	(19)
Long-term debt, less current portion, net of debt issuance costs	4,897	4,156
Reported Value Measurement [Member] | Senior Notes 4.25 Percent Due March 2022 [Member]
Debt Fair Value Disclosures
Senior Notes	220	229
Reported Value Measurement [Member] | Senior Notes 4.75 Percent Due June 2023 [Member]
Debt Fair Value Disclosures
Senior Notes	540	546
Reported Value Measurement [Member] | Senior Notes 4.875 Percent Due March 2024 [Member]
Debt Fair Value Disclosures
Senior Notes	499	498
Reported Value Measurement [Member] | Senior Notes 4.75 Percent Due January 2025 [Member]
Debt Fair Value Disclosures
Senior Notes	479	479
Reported Value Measurement [Member] | Senior Notes 4.875 percent Due June 2027 [Member]
Debt Fair Value Disclosures
Senior Notes	504	504
Reported Value Measurement [Member] | Senior note 5.75 percent due December 2034 [Member]
Debt Fair Value Disclosures
Senior Notes	499	499
Reported Value Measurement [Member] | LIBOR based Term Loan Due September 2025 [Member]
Debt Fair Value Disclosures
Senior Notes	488	500
Reported Value Measurement [Member] | Senior note 4.091 percent due June 2029
Debt Fair Value Disclosures
Senior Notes	460	456
Reported Value Measurement [Member] | Senior note 5.75 percent due December 2034 [Member]
Debt Fair Value Disclosures
Senior Notes	489	489
Reported Value Measurement [Member] | Senior note 3.125 percent due July 2029 [Member]
Debt Fair Value Disclosures
Senior Notes	500
Reported Value Measurement [Member] | Senior Notes 3.375 Percent due July 2031 [Member]
Debt Fair Value Disclosures
Senior Notes	500
Estimate of Fair Value Measurement [Member]
Debt Fair Value Disclosures
Long-term debt, gross	5,448	4,500
Debt issuance costs	0	0
Debt, net of debt issuance costs	5,448	4,500
Less: current portion of debt, net of debt issuance costs	(251)	(19)
Long-term debt, less current portion, net of debt issuance costs	5,197	4,481
Estimate of Fair Value Measurement [Member] | Senior Notes 4.25 Percent Due March 2022 [Member]
Debt Fair Value Disclosures
Senior Notes	226	237
Estimate of Fair Value Measurement [Member] | Senior Notes 4.75 Percent Due June 2023 [Member]
Debt Fair Value Disclosures
Senior Notes	578	576
Estimate of Fair Value Measurement [Member] | Senior Notes 4.875 Percent Due March 2024 [Member]
Debt Fair Value Disclosures
Senior Notes	538	541
Estimate of Fair Value Measurement [Member] | Senior Notes 4.75 Percent Due January 2025 [Member]
Debt Fair Value Disclosures
Senior Notes	522	517
Estimate of Fair Value Measurement [Member] | Senior Notes 4.875 percent Due June 2027 [Member]
Debt Fair Value Disclosures
Senior Notes	556	549
Estimate of Fair Value Measurement [Member] | Senior note 5.75 percent due December 2034 [Member]
Debt Fair Value Disclosures
Senior Notes	508	524
Estimate of Fair Value Measurement [Member] | LIBOR based Term Loan Due September 2025 [Member]
Debt Fair Value Disclosures
Senior Notes	488	490
Estimate of Fair Value Measurement [Member] | Senior note 4.091 percent due June 2029
Debt Fair Value Disclosures
Senior Notes	510	523
Estimate of Fair Value Measurement [Member] | Senior note 5.75 percent due December 2034 [Member]
Debt Fair Value Disclosures
Senior Notes	557	$ 543
Estimate of Fair Value Measurement [Member] | Senior note 3.125 percent due July 2029 [Member]
Debt Fair Value Disclosures
Senior Notes	484
Estimate of Fair Value Measurement [Member] | Senior Notes 3.375 Percent due July 2031 [Member]
Debt Fair Value Disclosures
Senior Notes	$ 481

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details) - Cost-method investments [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 02, 2021	Apr. 03, 2020	Apr. 02, 2021	Apr. 03, 2020	Jul. 03, 2020
Other Nonoperating Income (Expense) [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount	$ 10	$ 0	$ 33	$ 0
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Annual Amount	0	0	7	1
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount	10	$ 0	33	$ 0
Other current assets [Member] | Fair Value, Measurements, Nonrecurring [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Cost method investment	$ 163		$ 163		$ 135

Equity (Narrative) (Details)

Equity (Narrative) (Details)	9 Months Ended
	Apr. 02, 2021USD ($)$ / sharesshares
Equity [Abstract]
Authorized share capital (in dollars) | $	$ 13,500
Ordinary shares, authorized (in shares)	1,250,000,000
Ordinary shares, par value (in dollars per share) | $ / shares	$ 0.00001
Ordinary shares, outstanding (in shares)	229,556,907
Preferred shares, authorized (in shares)	100,000,000
Preferred shares, par value (in dollars per share) | $ / shares	$ 0.00001
Preferred shares, issued (in shares)	0
Preferred shares, outstanding (in shares)	0
Common stock, voting rights	one vote per share
Preferred stock minimum number of series	1
Stock repurchase program, remaining authorized repurchase amount | $	$ 4,400,000,000

Equity (Schedule of Share Repur

Equity (Schedule of Share Repurchases) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Apr. 02, 2021	Apr. 03, 2020	Apr. 02, 2021	Apr. 03, 2020
Dollar Value [Abstract]
Repurchases of ordinary shares (in shares)			30
Tax withholding related to vesting of equity awards (in shares)			1
Repurchases of ordinary shares and tax withholding related to vesting of equity awards (in shares)			31
Repurchases of ordinary shares	$ 762	$ 214	$ 1,830	$ 811
Tax withholding related to vesting of equity awards	$ 1	$ 0	33	$ 39
Repurchases of ordinary shares and tax withholding related to vesting of equity awards			$ 1,863

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 02, 2021	Apr. 03, 2020	Apr. 02, 2021	Apr. 03, 2020
Disaggregation of Revenue [Line Items]
Revenue	$ 2,731	$ 2,718	$ 7,668	$ 7,992
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue	1,268	1,257	3,680	3,912
Americas
Disaggregation of Revenue [Line Items]
Revenue	939	938	2,582	2,534
EMEA
Disaggregation of Revenue [Line Items]
Revenue	524	523	1,406	1,546
Original equipment manufacturers
Disaggregation of Revenue [Line Items]
Revenue	1,950	1,970	5,299	5,633
Distributors
Disaggregation of Revenue [Line Items]
Revenue	455	465	1,297	1,389
Retailers
Disaggregation of Revenue [Line Items]
Revenue	$ 326	$ 283	$ 1,072	$ 970

Guarantees Guarantees (Narrativ

Guarantees Guarantees (Narrative) (Details)	3 Months Ended
	Apr. 02, 2021USD ($)
Schedule of Fiscal Years [Line Items]
Indemnifications obligations to Officers and Directors	$ 0
Intellectual property indemnification obligations	$ 0
Minimum
Schedule of Fiscal Years [Line Items]
Product warranty period term	1 year
Maximum
Schedule of Fiscal Years [Line Items]
Product warranty period term	5 years

Guarantees (Product Warranty) (

Guarantees (Product Warranty) (Details) - USD ($) $ in Millions	9 Months Ended
	Apr. 02, 2021	Apr. 03, 2020
Guarantees [Abstract]
Balance, beginning of period	$ 151	$ 195
Warranties issued	56	67
Repairs and replacements	(62)	(65)
Changes in liability for pre-existing warranties, including expirations	(11)	(34)
Balance, end of period	$ 134	$ 163

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of computation of basic and diluted net income (loss) per share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Apr. 02, 2021	Apr. 03, 2020	Apr. 02, 2021	Apr. 03, 2020	Apr. 03, 2020
Numerator:
Net income	$ 329	$ 320	$ 832	$ 838	$ 838
Number of shares used in per share calculations:
Total shares for purposes of calculating basic net income per share	233	261	246	263
Weighted-average effect of dilutive securities:
Employee equity award plans	4	2	3	3
Total shares for purpose of calculating diluted net income per share	237	263	249	266
Net income per share:
Basic (in dollars per share)	$ 1.41	$ 1.23	$ 3.38	$ 3.19
Diluted (in dollars per share)	$ 1.39	$ 1.22	$ 3.34	$ 3.15

Subsequent event (Details)

Subsequent event (Details) - $ / shares	Apr. 22, 2021	Apr. 02, 2021	Apr. 03, 2020	Apr. 02, 2021	Apr. 03, 2020
Subsequent Event [Line Items]
Cash dividends declared per ordinary share (in dollars per share)		$ 0.67	$ 0.65	$ 1.99	$ 1.93
Common Stock | Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared per ordinary share (in dollars per share)	$ 0.67
Dividends payable date	Jul. 7, 2021
Dividends payable, date of record	May 12, 2021

Uncategorized Items - stx-20210

Label	Element	Value
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	$ 80,000,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation	100,000,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	503,000,000
Other Comprehensive Income (Loss), Net of Tax	us-gaap_OtherComprehensiveIncomeLossNetOfTax	(33,000,000)
Additional Paid-in Capital [Member]
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	80,000,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodValueShareBasedCompensation	$ 100,000,000
Common Stock [Member]
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture	us-gaap_StockIssuedDuringPeriodSharesShareBasedCompensation	6,000,000
Stock Repurchased During Period, Shares	us-gaap_StockRepurchasedDuringPeriodShares	17,000,000
Retained Earnings [Member]
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	$ 838,000,000
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	us-gaap_AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation	39,000,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	$ 503,000,000
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation	us-gaap_SharesPaidForTaxWithholdingForShareBasedCompensation	1,000,000
Stock Repurchased During Period, Value	us-gaap_StockRepurchasedDuringPeriodValue	$ 811,000,000
AOCI Attributable to Parent [Member]
Other Comprehensive Income (Loss), Net of Tax	us-gaap_OtherComprehensiveIncomeLossNetOfTax	$ (33,000,000)