Seagate Technology (STX) 10-Q 27 Oct 23 2024 Q1 Quarterly report Financial data

Cover page

Cover page - shares	3 Months Ended
	Sep. 29, 2023	Oct. 23, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 29, 2023
Document Transition Report	false
Entity File Number	001-31560
Entity Incorporation, State or Country Code	L2
Entity Tax Identification Number	98-1597419
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		209,183,986
Entity Registrant Name	Seagate Technology Holdings plc
Entity Central Index Key	0001137789
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--06-28

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 29, 2023	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 795,000,000	$ 786,000,000
Accounts receivable, net	521,000,000	621,000,000
Inventories	1,052,000,000	1,140,000,000
Other current assets	268,000,000	358,000,000
Total current assets	2,636,000,000	2,905,000,000
Property, equipment and leasehold improvements, net	1,652,000,000	1,706,000,000
Goodwill	1,237,000,000	1,237,000,000
Deferred Income Tax Assets, Net	1,087,000,000	1,117,000,000
Other assets, net	584,000,000	591,000,000
Total Assets	7,196,000,000	7,556,000,000
Current liabilities:
Accounts payable	1,511,000,000	1,603,000,000
Accrued employee compensation	88,000,000	100,000,000
Accrued warranty	84,000,000	78,000,000
Accrued expenses	790,000,000	748,000,000
Total current liabilities	2,473,000,000	2,592,000,000
Long-term accrued warranty	92,000,000	90,000,000
Other non-current liabilities	667,000,000	685,000,000
Long-term debt, less current portion	5,666,000,000	5,388,000,000
Total Liabilities	8,898,000,000	8,755,000,000
Shareholders’ Deficit:
Ordinary shares and additional paid-in capital	7,338,000,000	7,373,000,000
Accumulated other comprehensive (loss) income	(15,000,000)	98,000,000
Accumulated deficit	(9,025,000,000)	(8,670,000,000)
Total Shareholders’ Deficit	(1,702,000,000)	(1,199,000,000)
Total Liabilities and Shareholders’ Deficit	7,196,000,000	7,556,000,000
Less: current portion of debt, net of debt issuance costs	$ 0	$ 63,000,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenue	$ 1,454	$ 2,035
Cost of revenue	1,305	1,553
Product development	171	234
Marketing and administrative	105	129
Amortization of intangibles	0	3
Restructuring Charges	2	9
Total operating expenses	1,583	1,928
(Loss) income from operations	(129)	107
Interest income	2	1
Interest expense	(84)	(71)
Net gain recognized from termination of interest rate swap	104	0
Net loss recognized from early redemption of debt	(29)	0
Other, net	(11)	(10)
Other expense, net	(18)	(80)
(Loss) income before income taxes	(147)	27
Provision for (benefit from) income taxes	37	(2)
Net (loss) income	$ (184)	$ 29
Net (loss) income per share:
Basic (in dollars per share)	$ (0.88)	$ 0.14
Diluted (in dollars per share)	$ (0.88)	$ 0.14
Number of shares used in per share calculations:
Basic (in shares)	208,000	208,000
Diluted (in shares)	208,000	210,000
Cash dividends declared per ordinary share (in dollars per share)	$ 0.70	$ 0.70

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Net (loss) income	$ (184)	$ 29
Foreign currency translation adjustments
Foreign currency translation adjustments	1	(1)
Total other comprehensive (loss) income, net of tax	(113)	37
Comprehensive (loss) income	(297)	66
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent
Change in net unrealized (losses) gains on cash flow hedges:
Net unrealized (losses) gains arising during the period	(22)	32
(Gains) losses reclassified into earnings	(92)	5
Net change	(114)	37
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent
Change in unrealized components of post-retirement plans:
Net unrealized gains arising during the period	0	1
Net change	$ 0	$ 1

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
OPERATING ACTIVITIES
Net (loss) income	$ (184)	$ 29
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	76	135
Share-based compensation	25	29
Deferred income taxes	28	(5)
Other non-cash operating activities, net	(50)	13
Changes in operating assets and liabilities:
Accounts receivable, net	100	434
Inventories	88	(41)
Accounts payable	(70)	(300)
Accrued employee compensation	(12)	(146)
Accrued expenses, income taxes and warranty	54	4
Other assets and liabilities	65	93
Net cash provided by operating activities	127	245
INVESTING ACTIVITIES
Acquisition of property, equipment and leasehold improvements	(70)	(133)
Proceeds from the sale of assets	0	1
Purchases of investments	0	(1)
Net cash used in investing activities	(70)	(133)
FINANCING ACTIVITIES
Redemption and repurchase of debt	(1,288)	0
Dividends to shareholders	(145)	(147)
Repurchases of ordinary shares	0	(408)
Taxes paid related to net share settlement of equity awards	(25)	(39)
Proceeds from issuance of long-term debt	1,500	600
Proceeds from issuance of ordinary shares under employee stock plans	35	29
Other financing activities, net	(126)	(1)
Net cash (used in) provided by financing activities	(49)	34
Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash	1	0
Increase in cash, cash equivalents and restricted cash	9	146
Cash, cash equivalents and restricted cash at the beginning of the period	788	617
Cash, cash equivalents and restricted cash at the end of the period	797	763
Gain (loss) on repurchase of debt instrument	$ 7	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]
Beginning balance (in shares) at Jul. 01, 2022		210
Beginning balance at Jul. 01, 2022	$ 109	$ 0	$ 7,190	$ 36	$ (7,117)
Increase (Decrease) in Stockholders' Equity
Net (loss) income	29				29
Other comprehensive loss	37			37
Issuance of ordinary shares under employee stock plans (In shares)		2
Issuance of ordinary shares under employee share plans	29		29
Repurchases of ordinary shares (in shares)		(5)
Repurchases of ordinary shares	(400)				(400)
Tax withholding related to vesting of restricted stock units (in shares)		(1)
Tax withholding related to vesting of restricted share units	(39)				(39)
Dividends to shareholders ($0.70 per ordinary share)	(145)				(145)
Share-based compensation	29		29
Ending balance (in shares) at Sep. 30, 2022		206
Ending balance at Sep. 30, 2022	(351)	$ 0	7,248	73	(7,672)
Increase (Decrease) in Stockholders' Equity
Issuance of ordinary shares under employee stock plans (In shares)		2
Beginning balance (in shares) at Jun. 30, 2023		207
Beginning balance at Jun. 30, 2023	(1,199)	$ 0	7,373	98	(8,670)
Increase (Decrease) in Stockholders' Equity
Net (loss) income	(184)				(184)
Other comprehensive loss	(113)			(113)
Issuance of ordinary shares under employee stock plans (In shares)		2
Issuance of ordinary shares under employee share plans	35		35
Capped calls related to the issuance of convertible notes	$ (95)		(95)
Tax withholding related to vesting of restricted stock units (in shares)	0	0
Tax withholding related to vesting of restricted share units	$ (25)				(25)
Dividends to shareholders ($0.70 per ordinary share)	(146)				(146)
Share-based compensation	25		25
Ending balance (in shares) at Sep. 29, 2023		209
Ending balance at Sep. 29, 2023	$ (1,702)	$ 0	$ 7,338	$ (15)	$ (9,025)
Increase (Decrease) in Stockholders' Equity
Issuance of ordinary shares under employee stock plans (In shares)		2

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Sep. 29, 2023
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies Organization Seagate Technology Holdings plc (“STX”) and its subsidiaries (collectively, unless the context otherwise indicates, the “Company”) is a leading provider of data storage technology and infrastructure 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”) and storage subsystems and offers storage solutions such as a scalable edge-to-cloud mass data platform that includes data transfer shuttles and a storage-as-a-service cloud. 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 capacities, superior quality and cost effectiveness. Complementing HDD storage architectures, SSDs use NAND flash memory integrated circuit assemblies to store data. The Company’s HDD products are designed for mass capacity storage and legacy markets. Mass capacity storage involves well-established use cases, such as hyperscale data centers and public clouds as well as emerging use cases. Legacy markets are those that the Company continues to sell to but does not plan to invest in significantly. The Company’s HDD and SSD product portfolio includes Serial Advanced Technology Attachment (“SATA”), Serial Attached SCSI (“SAS”) and Non-Volatile Memory Express (“NVMe”) based designs to support a wide variety of mass capacity and legacy applications. The Company’s systems portfolio includes storage subsystems for enterprises, cloud service providers (“CSPs”), scale-out storage servers and original equipment manufacturers (“OEMs”). Engineered for modularity, mobility, capacity and performance, these solutions include the Company’s enterprise HDDs and SSDs, enabling customers to integrate powerful, scalable storage within existing environments or create new ecosystems from the ground up in a secure, cost-effective manner. The Company’s Lyve portfolio provides a simple, cost-efficient and secure way to manage massive volumes of data across the distributed enterprise. The Lyve platform includes a shuttle solution that enables enterprises to transfer massive amounts of data from endpoints to the core cloud and a storage-as-a-service cloud offering that provides frictionless mass capacity storage at the metro edge. Basis of Presentation and Consolidation The unaudited Condensed Consolidated Financial Statements of the Company and the accompanying notes were prepared in accordance with United States (“U.S.”) Generally Accepted Accounting Principles (“GAAP”). 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 U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Company’s Condensed Consolidated Financial Statements and accompanying notes. 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 June 30, 2023 are included in its Annual Report on Form 10-K, as filed with the U.S. Securities and Exchange Commission (“SEC”) on August 4, 2023. 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 June 30, 2023, and the notes thereto, are adequate to make the information presented not misleading. The results of operations for the three months ended September 29, 2023 are not necessarily indicative of the results to be expected for any subsequent interim period or for the Company’s fiscal year ending June 28, 2024. 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. Both the three months ended September 29, 2023 and September 30, 2022 consisted of 13 weeks. Fiscal years 2024 and 2023 both comprise 52 weeks and end on June 28, 2024 and June 30, 2023, respectively. The fiscal quarters ended September 29, 2023, June 30, 2023 and September 30, 2022, are also referred to herein as the “September 2023 quarter”, the “June 2023 quarter” and the “September 2022 quarter”, respectively. Summary of Significant Accounting Policies Except for the change in the Company’s other long-lived assets policies described below, 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 June 30, 2023, as filed with the SEC on August 4, 2023. Other Long-Lived Assets In accordance with its policy, the Company reviews the estimated useful lives of its fixed assets on an ongoing basis. Effective from the first quarter of fiscal year 2024, the Company changed the useful lives of certain manufacturing equipment from a range of three three $10 million and $0.05, respectively, for the three months ended September 29, 2023. Recently Adopted Accounting Pronouncements In September 2022, the FASB issued ASU 2022-04 (ASC Subtopic 405-50), Disclosure of Supplier Finance Program Obligations

Balance Sheet Information

Balance Sheet Information	3 Months Ended
	Sep. 29, 2023
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 available-for-sale debt investments as of September 29, 2023 and June 30, 2023: September 29, 2023 June 30, 2023 (Dollars in millions) Amortized Cost Unrealized Gain/(Loss) Fair Value Amortized Cost Unrealized Gain/(Loss) Fair Value Available-for-sale debt securities: Money market funds $ 121 $ — $ 121 $ 73 $ — $ 73 Time deposits and certificates of deposit 1 — 1 1 — 1 Other debt securities 15 — 15 16 — 16 Total $ 137 $ — $ 137 $ 90 $ — $ 90 Included in Cash and cash equivalents $ 120 $ 72 Included in Other current assets 2 2 Included in Other assets, net 15 16 Total $ 137 $ 90 As of September 29, 2023 and June 30, 2023, the Company’s Other current assets included $2 million in restricted cash equivalents held as collateral at banks for various performance obligations. As of September 29, 2023 and June 30, 2023, the Compa ny had no 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 September 29, 2023 . The fair value and amortized cost of the Company’s investments classified as available-for-sale debt securities as of September 29, 2023, by remaining contractual maturity were as follows: (Dollars in millions) Amortized Cost Fair Value Due in less than 1 year $ 122 $ 122 Due in 1 to 5 years 15 15 Due in 6 to 10 years — — Thereafter — — Total $ 137 $ 137 Cash, Cash Equivalents and Restricted Cash The following table provides a summary of cash, cash equivalents and restricted cash reported within 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) September 29, 2023 June 30, 2023 September 30, 2022 July 1, 2022 Cash and cash equivalents $ 795 $ 786 $ 761 $ 615 Restricted cash included in Other current assets 2 2 2 2 Total cash, cash equivalents and restricted cash shown in the Statements of Cash Flows $ 797 $ 788 $ 763 $ 617 Accounts receivable, net In connection with the Company’ s factoring agreements, from time to time the Company sells trade receivables to a third party for cash proceeds less a discount. During the three months ended September 29, 2023, the Company sold trade receivables without recourse for cash proceeds of $292 million. As of September 29, 2023, the total amount that remained subject to servicing by the Company was $363 million . During the three months ended September 30, 2022, the Company sold trade receivables without recourse for cash proceeds of $200 million. As of September 30, 2022, the total amount that remained subject to servicing by the Company was $237 million. The discounts on receivables sold were not material for the three months ended September 29, 2023 and September 30, 2022, respectively. Inventories The following table provides details of the inventory balance sheets item: (Dollars in millions) September 29, 2023 June 30, 2023 Raw materials and components $ 243 $ 241 Work-in-process 657 682 Finished goods 152 217 Total inventories $ 1,052 $ 1,140 Other Current Assets The following table provides details of the other current assets balance sheets item: (Dollars in millions) September 29, 2023 June 30, 2023 Vendor receivables $ 109 $ 167 Other current assets 159 191 Total $ 268 $ 358 Property, Equipment and Leasehold Improvements, net The components of property, equipment and leasehold improvements, net, were as follows: (Dollars in millions) September 29, 2023 June 30, 2023 Property, equipment and leasehold improvements $ 10,260 $ 10,267 Accumulated depreciation and amortization (8,608) (8,561) Property, equipment and leasehold improvements, net $ 1,652 $ 1,706 During the September 2023 quarter , the Company recognized a charge of $13 million for the accelerated depreciation of certain fixed assets, which was recorded to Cost of revenue in the Condensed Consolidated Statements of Operations. During the September 2022 quarter , the Company recognized a charge of $22 million for the accelerated depreciation of certain fixed assets, which was recorded to Operating expense in the Condensed Consolidated Statements of Operations. Accrued Expenses The following table provides details of the accrued expenses balance sheets item: (Dollars in millions) September 29, 2023 June 30, 2023 Dividends payable $ 146 $ 145 Other accrued expenses 644 603 Total $ 790 $ 748 Accumulated Other Comprehensive Income (“AOCI”) The components of AOCI, 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 June 30, 2023 $ 103 $ (4) $ (1) $ 98 Other comprehensive income before reclassifications (22) — — (22) Amounts reclassified from AOCI (92) — 1 (91) Other comprehensive loss (114) — 1 (113) Balance at September 29, 2023 $ (11) $ (4) $ — $ (15) Balance at July 1, 2022 $ 51 $ (14) $ (1) $ 36 Other comprehensive income before reclassifications 32 1 — 33 Amounts reclassified from AOCI 5 — (1) 4 Other comprehensive income 37 1 (1) 37 Balance at September 30, 2022 $ 88 $ (13) $ (2) $ 73

Debt

Debt	3 Months Ended
	Sep. 29, 2023
Debt Disclosure [Abstract]
Debt	Debt The following table provides details of the Company’s debt as of September 29, 2023 and June 30, 2023: (Dollars in millions) September 29, 2023 June 30, 2023 Unsecured Senior Notes (1) $1,000 issued on May 28, 2014 at 4.75% due January 1, 2025 (the “2025 Notes”) , interest payable semi-annually on January 1 and July 1 of each year. $ 479 $ 479 $700 issued on May 14, 2015 at 4.875% due June 1, 2027 (the “2027 Notes”) , interest payable semi-annually on June 1 and December 1 of each year. 504 504 $500 issued on June 18, 2020 at 4.091% due June 1, 2029 (the “June 2029 Notes”) , interest payable semi-annually on June 1 and December 1 of each year. 467 465 $500 issued on December 8, 2020 at 3.125% due July 15, 2029 (the “July 2029 Notes”) , interest payable semi-annually on January 15 and July 15 of each year. 163 163 $500 issued on May 30, 2023 at 8.25% due December 15, 2029 ( the “December 2029 Notes” ), interest payable semi-annually on June 15 and December 15 of each year. 500 500 $500 issued on June 10, 2020 at 4.125% due January 15, 2031 (the “January 2031 Notes”) , interest payable semi-annually on January 15 and July 15 of each year. 275 275 $500 issued on December 8, 2020 at 3.375% due July 15, 2031 (the “July 2031 Notes”) , interest payable semi-annually on January 15 and July 15 of each year. 72 72 $500 issued on May 30, 2023 at 8.50% due July 15, 2031 ( the “8.50% July 2031 Notes” ), interest payable semi-annually on January 15 and July 15 of each year. 500 500 $750 issued on November 30, 2022 at 9.625% due December 1, 2032 ( the “ 2032 Notes ”), interest payable semi-annually on June 1 and December 1 of each year. 750 750 $500 issued on December 2, 2014 at 5.75% due December 1, 2034 (the “2034 Notes”) , interest payable semi-annually on June 1 and December 1 of each year. 489 489 Convertible Senior Notes (1) $1,500 issued on September 13, 2023 at 3.50% due June 1, 2028 ( the “2028 Notes” ), interest payable semi-annually on March 1 and September 1 of each year. 1,500 — Term Loans $600 borrowed on October 14, 2021 at SOFR plus a variable margin ranging from 1.125% to 2.375%, ( the “Term Loan A1”) , repayable in quarterly installments beginning on December 31, 2022, with a final maturity date of September 16, 2025. — 430 $600 borrowed on October 14, 2021 at SOFR plus a variable margin ranging from 1.25% to 2.5%, ( the “Term Loan A2”) , repayable in quarterly installments beginning on December 31, 2022, with a final maturity date of July 30, 2027. — 430 $600 borrowed on August 18, 2022 at SOFR plus a variable margin ranging from 1.25% to 2.5%, ( the “ Term Loan A3 ”), repayable in quarterly installments beginning on December 31, 2022, with a final maturity date of July 30, 2027. — 430 5,699 5,487 Less: unamortized debt issuance costs (33) (36) Debt, net of debt issuance costs 5,666 5,451 Less: current portion of long-term debt — (63) Long-term debt, less current portion $ 5,666 $ 5,388 _____________________________ (1) All unsecured senior notes and convertible senior notes are issued by Seagate HDD Cayman (“Seagate HDD”), and the obligations under these notes are fully and unconditionally guaranteed, on a senior unsecured basis, by Seagate Technology Unlimited Company (“STUC”) and STX. 2028 Convertible Senior Notes and related Capped Call Transactions 2028 Notes. On September 13, 2023, Seagate HDD, in a private placement, issued $1.5 billion in aggregate principal amount of 3.50% Convertible Senior Notes due 2028 (the “2028 Notes”), which includes $200 million aggregate principal amount pursuant to the over-allotment option of the initial purchasers to purchase additional notes. The 2028 Notes will mature on June 1, 2028, with interest payable semi-annually on March 1 and September 1 of each year, commencing March 1, 2024. The entire outstanding principal amount of Term Loans A1, A2 and A3 were repaid from the proceeds of the 2028 Notes issuance. The exchange was accounted for as a debt extinguishment and the Company recorded a net loss of $29 million, which was included in the Net loss recognized from early redemption of debt in the Company’s Condensed Consolidated Statements of Operations fo r the first quarter of fiscal year 2024. In connection with the repayment of Term Loans, the Company terminated its interest rate swap agreements. Refer to “ Note 6. Derivative Financial Instruments ” for more details. Prior to March 1, 2028, the 2028 Notes are convertible at the option of the holders only under certain circumstances as set forth in the indenture with respect to the 2028 Notes. On or after March 1, 2028, the 2028 Notes are convertible at any time at the option of the holders until the close of business on the second scheduled trading day immediately preceding the maturity date, unless the 2028 Notes have been previously redeemed or repurchased by Seagate HDD. Upon exchange of the 2028 Notes, Seagate HDD will pay cash up to the aggregate principal amount of 2028 Notes to be exchanged and will pay or cause to be delivered, as the case may be, cash, ordinary shares of the Company or a combination of cash and ordinary shares of the Company, at Seagate HDD’s election, in respect of any remainder of the exchange obligation in excess of such principal amount. The initial exchange rate for the 2028 Notes is 12.1253 ordinary shares per $1,000 principal amount of 2028 Notes. Seagate HDD may redeem the 2028 Notes at its option, in whole but not in part, if Seagate HDD or the Guarantors have, or on the next interest payment date would, become obligated to pay to the holder of any Note additional amounts as a result of certain tax-related events at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest, including additional interest, if any, to, but excluding, the redemption date; provided that Seagate HDD may only redeem the Notes if: (x) Seagate HDD or the relevant Guarantor cannot avoid these obligations by taking commercially reasonable measures available to Seagate HDD or such Guarantor; and (y) Seagate HDD delivers to the Trustee an opinion of outside legal counsel of recognized standing in the relevant taxing jurisdiction attesting to such tax-related event and obligation to pay additional amounts. Seagate HDD also may redeem the 2028 Notes at its option on or after September 8, 2026, in whole or in part, if the last reported sale price of ordinary shares of the Company has been at least 130% of the exchange price then in effect for at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which Seagate HDD provides notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which Seagate HDD provides notice of redemption at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. If Seagate HDD redeems less than all the outstanding 2028 Notes, at least $150 million aggregate principal amount of 2028 Notes must be outstanding and not subject to redemption as of the relevant notice of redemption date. In connection with the 2028 Notes, the Company and Seagate HDD entered into privately negotiated capped call transactions with certain financial institutions. The cap price of the capped call transactions will initially be $107.848 per share, which represents a premium of approximately 70% over the last reported sale price of the ordinary shares of $63.44 per share on the Nasdaq Global Market on September 7, 2023. The cost of the capped call transactions was $95 million, which met certain accounting criteria to be accounted under Additional Paid-in Capital as part of the Shareholders’ Deficit and are not accounted as derivatives in the Company’s Condensed Consolidated Balance Sheets as of September 29, 2023. Credit Agreement On September 27, 2023, Seagate Technology Holdings plc and Seagate HDD entered into an amendment to its credit agreement, dated September 20, 2019 (the “Tenth Amendment”). Under the Tenth Amendment, the maximum permitted total net leverage ratio is 6.75 to 1.00 for the fiscal quarter ending September 29, 2023. For the fiscal quarters ending December 29, 2023 and March 29, 2024, the total net leverage ratio covenant will not apply. For the fiscal quarters ending June 28, 2024 until the end of the covenant relief period, which terminates on June 27, 2025, the maximum permitted total net leverage ratio is 6.75 to 1.00, and applies only to the extent that the aggregate outstanding amount of revolving loans, swing line loans and the aggregate face amount of certain letters of credit exceeds 25% of the then outstanding revolving commitments in effect (the “Testing Condition”) as of the last day of the fiscal quarter. The maximum permitted total leverage ratio for each fiscal quarter ending after June 27, 2025 is 4.00 to 1.00. The minimum interest coverage ratio is 2.25 to 1.00 for the fiscal quarter ending September 29, 2023. For the fiscal quarters ending December 29, 2023 and March 29, 2024, the minimum interest coverage ratio covenant will not apply. For the fiscal quarters ending June 28, 2024 until June 27, 2025, the minimum interest coverage ratio is 2.25 to 1.00, and applies only to the extent that the Testing Condition is satisfied as of the last day of the fiscal quarter. The minimum interest coverage ratio is 3.25 to 1.00 for each fiscal quarter ending after June 27, 2025. The Tenth Amendment also removed the minimum liquidity covenant of $700 million. As of September 29, 2023, the Tenth Amendment includes two financial covenants: (1) interest coverage ratio and (2) total net leverage ratio. The Company was in compliance with the covenants as of September 29, 2023. Future Principal Payments on Long-term Debt At September 29, 2023, future principal payments on long-term debt were as follows (in millions): Fiscal Year Principal Amount Remainder of 2024 $ — 2025 479 2026 — 2027 505 2028 1,500 Thereafter 3,245 Total $ 5,729

Income Taxes

Income Taxes	3 Months Ended
	Sep. 29, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company recorded an income tax provision of $37 million for the three months ended September 29, 2023. The income tax provision included approximately $33 million of net discrete expense, primarily associated with an increase in the Company’s valuation allowance to account for the impacts of new tax guidance which clarifies the treatment of specified research and experimental expenditures issued by the U.S. Treasury Department under Internal Revenue Code Section 174 during the September 2023 quarter, partially offset by excess tax benefits related to share-based compensation expense. The Company will have income taxes payable based on profits generated in various jurisdictions. During the three months ended September 29, 2023, the Company’s unrecognized tax benefits excluding interest and penalties decreased by approximately $9 million to $107 million, substantially all of which would impact the effective tax rate, if recognized, subject to certain future valuation allowance reversals. The Company is not expecting material changes to its unrecognized tax benefits in the next twelve months beginning September 30, 2023. The Company’s income tax benefit of $2 million for the three months ended September 30, 2022 included approximately $7 million of net discrete tax benefit, primarily associated with excess tax benefits related to share-based compensation expense. The Company’s income tax provision recorded for the three months ended September 29, 2023 and September 30, 2022 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) increase in valuation allowance.

Restructuring and Exit Costs

Restructuring and Exit Costs	3 Months Ended
	Sep. 29, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Exit Costs	Restructuring and Exit Costs The Company recorded restructuring and other, net of $2 million and $9 million, for the three months ended September 29, 2023 and September 30, 2022, respectively on the Company’s Condensed Consolidated Statements of Operations. The Company’s restructuring plans are comprised primarily of charges related to workforce reduction costs, including severance and other one-time termination benefits, facilities and other exit costs. The Company’s significant restructuring plans are described below. October 2022 Plan - On October 24, 2022, the Company committed to an October 2022 restructuring plan (the “October 2022 Plan”) to reduce its cost structure to better align the Company’s operational needs to current economic conditions while continuing to support the long-term business strategy. On March 29, 2023, in light of further deteriorating economic conditions, the Company committed to an expansion of the October 2022 Plan to further reduce its global headcount by approximately 480 employees to a total reduction of approximately 3,480 employees. This expanded plan included aligning its business plan to near-term market conditions, along with other cost saving measures. The October 2022 Plan was substantially completed by the end of fiscal year 2023. April 2023 Plan - On April 20, 2023, the Company committed to an April 2023 restructuring plan (the “April 2023 Plan”) to further reduce its cost structure in response to changes in macroeconomic and business conditions. The April 2023 Plan was intended to align the Company’s operational needs with the near-term demand environment while continuing to support the long-term business strategy. The April 2023 Plan was substantially completed by the end of fiscal year 2023. The following table summarizes the Company’s restructuring activities under its active restructuring plans: April 2023 Plan October 2022 Plan Other Plans (Dollars in millions) Workforce Reduction Costs Facilities and Other Exit Costs Workforce Reduction Costs Facilities and Other Exit Costs Workforce Reduction Costs Facilities and Other Exit Costs Total Accrual balances at June 30, 2023 $ 108 $ — $ 1 $ 5 $ 1 $ 4 $ 119 Restructuring charges — — — — 3 — 3 Cash payments (87) — (1) — (1) — (89) Adjustments (1) — — — — — (1) Accrual balances at September 29, 2023 $ 20 $ — $ — $ 5 $ 3 $ 4 $ 32 Total costs incurred inception to date as of September 29, 2023 $ 144 $ 3 $ 104 $ 7 $ 66 $ 13 $ 337 Total expected charges to be incurred as of September 29, 2023 $ — $ — $ — $ — $ — $ 1 $ 1 Of the accrued restructuring balance of $32 million at September 29, 2023, $30 million was included in Accrued expenses and $2 million was included in Other non-current liabilities in the Company’s Condensed Consolidated Balance Sheets. Of the accrued restructuring balance of $119 million at June 30, 2023, $117 million was included in Accrued expenses and $2 million was included in Other non-current liabilities in the Company’s Condensed Consolidated Balance Sheets.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Sep. 29, 2023
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. The Company entered into certain interest rate swap agreements to convert the variable interest rate on its Term Loans to fixed interest rates. The objective of the interest rate swap agreements was to eliminate the variability of interest payment cash flows associated with the variable interest rate under the Term Loans. The Company designated the interest rate swaps as cash flow hedges. On September 13, 2023, the Company terminated its then existing interest rate swap agreements relating to Term Loans A1, A2 and A3 and received cash proceeds of $25 million from the counterparty. The cash proceeds are reported within Net cash provided by operating activities in the Company’s Condensed Consolidated Statements of Cash Flows during the three months ended September 29, 2023. The Company discontinued the related hedge accounting prospectively and realized a net gain of $104 million in Net gain recognized from termination of interest rate swap in the Condensed Consolidated Statements of Operations during the three months ended September 29, 2023. Additionally, $6 million of the gains were amortized to Interest expense prior to the termination of interest rate swap in the Company’s Condensed Consolidated Statements of Operations. Refer to “ Note 3. Debt ” for more details. As of September 29, 2023, the Company does not have any interest rate swap contracts. 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 AOCI 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 $14 million as of September 29, 2023 and the amount of net unrealized gain on cash flow hedges was $12 million as of June 30, 2023. As of September 29, 2023, the amount of existing net losses related to cash flow hedges recorded in AOCI included a net loss of $14 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 AOCI 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 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 months ended September 29, 2023: (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 Foreign currency forward exchange contracts Other, net $ (6) Total return swap Operating expenses (3) (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) (1) Amount of Gain/(Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) Foreign currency forward exchange contracts $ (7) Cost of revenue $ (1) Other, net $ — Interest rate swap (15) Interest expense 11 Net gain recognized from termination of interest rate swap 104 _____________________________ (1) The net gain recognized into earnings as a result of the discontinuance of interest rate swap during the three months ended September 29, 2023. 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 months ended September 30, 2022 : (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 Foreign currency forward exchange contracts Other, net $ (10) Total return swap Operating expenses (8) (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) Foreign currency forward exchange contracts $ (20) Cost of revenue $ (7) Other, net $ (1) Interest rate swap 52 Interest expense 2 Interest expense — 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 also enters into foreign currency forward contracts with contractual maturities of less than one month, which are designed to mitigate the effect of changes in foreign exchange rates on monetary assets and liabilities. 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 September 29, 2023 and June 30, 2023. All of the foreign currency forward exchange contracts mature within 12 months. As of September 29, 2023 (Dollars in millions) Contracts Designated as Hedges Contracts Not Designated as Hedges Singapore Dollar $ 154 $ 154 Thai Baht 112 19 Chinese Renminbi 53 13 British Pound Sterling 43 20 Total $ 362 $ 206 As of June 30, 2023 (Dollars in millions) Contracts Designated as Hedges Contracts Not Designated as Hedges Singapore Dollar $ 195 $ 161 Thai Baht 129 16 Chinese Renminbi 64 12 British Pound Sterling 57 8 Total $ 445 $ 197 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 SOFR 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 September 29, 2023, the notional investments underlying the TRS amounted to $101 million and the contract term is through January 2024, 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 September 29, 2023 and June 30, 2023: As of September 29, 2023 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 $ — Accrued expenses $ (14) Derivatives not designated as hedging instruments: Foreign currency forward exchange contracts Other current assets — Accrued expenses (4) Total derivatives $ — $ (18) As of June 30, 2023 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 $ (10) Interest rate swap Other current assets 20 Accrued expenses — Derivatives not designated as hedging instruments: Foreign currency forward exchange contracts Other current assets — Accrued expenses (1) Total return swap Other current assets 1 Accrued expenses — Total derivatives $ 23 $ (11)

Fair Value

Fair Value	3 Months Ended
	Sep. 29, 2023
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: September 29, 2023 June 30, 2023 Fair Value Measurements at Reporting Date Using 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 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 $ 120 $ — $ — $ 120 $ 72 $ — $ — $ 72 Total cash equivalents 120 — — 120 72 — — 72 Restricted cash and investments: Money market funds 1 — — 1 1 — — 1 Time deposits and certificates of deposit — 1 — 1 — 1 — 1 Other debt securities — — 15 15 — — 16 16 Derivative assets — — — — — 23 — 23 Total assets $ 121 $ 1 $ 15 $ 137 $ 73 $ 24 $ 16 $ 113 Liabilities: Derivative liabilities $ — $ 18 $ — $ 18 $ — $ 11 $ — $ 11 Total liabilities $ — $ 18 $ — $ 18 $ — $ 11 $ — $ 11 September 29, 2023 June 30, 2023 Fair Value Measurements at Reporting Date Using 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 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 $ 120 $ — $ — $ 120 $ 72 $ — $ — $ 72 Other current assets 1 1 — 2 1 24 — 25 Other assets, net — — 15 15 — — 16 16 Total assets $ 121 $ 1 $ 15 $ 137 $ 73 $ 24 $ 16 $ 113 Liabilities: Accrued expenses $ — $ 18 $ — $ 18 $ — $ 11 $ — $ 11 Total liabilities $ — $ 18 $ — $ 18 $ — $ 11 $ — $ 11 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 September 29, 2023, 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, which are accounted for either under the equity method or the measurement alternative. Investments under the measurement alternative are recorded at cost, less impairment and adjusted for qualifying observable price changes on a prospective basis. If measured at fair value in the Condensed Consolidated Balance Sheets, these investments would generally be classified in Level 3 of the fair value hierarchy. For the investments that are accounted for under the equity method, the Company recorded an immaterial loss for the three months ended September 29, 2023 and a net loss of $3 million for the three months ended September 30, 2022. The adjusted carrying value of the investments accounted for under the equity method amounted to $55 million and $55 million as of September 29, 2023 and June 30, 2023, respectively. For the investments that are accounted for under the measurement alternative, there was no adjustment for the three months ended September 29, 2023. The Company recorded a net gain of $3 million for the three months ended September 30, 2022, which remained unrealized as of September 30, 2022, related to upward adjustments due to observable price changes. As of September 29, 2023 and June 30, 2023, the carrying value of the Company’s strategic investments under the measurement alternative was $89 million and $88 million, respectively. 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: September 29, 2023 June 30, 2023 (Dollars in millions) Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value 4.75% Senior Notes due January 2025 $ 479 $ 468 $ 479 $ 472 4.875% Senior Notes due June 2027 504 477 504 484 3.50% Senior Notes due June 2028 1,500 1,550 — — 4.091% Senior Notes due June 2029 467 426 465 436 3.125% Senior Notes due July 2029 163 126 163 126 8.25% Senior Notes due December 2029 500 514 500 522 4.125% Senior Notes due January 2031 275 220 275 227 3.375% Senior Notes due July 2031 72 51 72 53 8.50% Senior Notes due July 2031 500 513 500 524 9.625% Senior Notes due December 2032 750 808 750 830 5.75% Senior Notes due December 2034 489 411 489 438 SOFR Based Term Loan A1 due September 2025 — — 430 426 SOFR Based Term Loan A2 due July 2027 — — 430 420 SOFR Based Term Loan A3 due July 2027 — — 430 413 $ 5,699 $ 5,564 $ 5,487 $ 5,371 Less: unamortized debt issuance costs (33) — (36) — Debt, net of debt issuance costs $ 5,666 $ 5,564 $ 5,451 $ 5,371 Less: current portion of debt, net of debt issuance costs — — (63) (62) Long-term debt, less current portion, net of debt issuance costs $ 5,666 $ 5,564 $ 5,388 $ 5,309

Equity

Equity	3 Months Ended
	Sep. 29, 2023
Equity [Abstract]
Equity	it Share Capital The Company’s authorized share capit al is $13,500 and consists of 1,250,000,000 ordinary shares, par value $0.00001, of which 209,181,031 shares were outstanding as of September 29, 2023, and 100,000,000 preferred shares, par value $0.00001, of which none were issued or outstanding as of September 29, 2023. Ordinary shares - Holders of ordinary shares are entitled to receive dividends when and as declared by the Company’s board of directors (the “Board of Directors”). Upon any liquidation, dissolution, or winding up of the Company, after required payments are made to holders of preferred shares, any remaining assets of the Company 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. As of September 29, 2023 , $1.9 billion remained available for repurchase under the existing repurchase authorization limit approved by the Board of Directors. The following table sets f orth information with respect to repurchases of the Company’s ordinary shares during the three months ended September 29, 2023: (In millions) Number of Shares Repurchased Dollar Value of Shares Repurchased Tax withholding related to vesting of equity awards — 25 Total — $ 25

Revenue

Revenue	3 Months Ended
	Sep. 29, 2023
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 (Dollars in millions) September 29, 2023 September 30, 2022 Revenues by Channel OEMs $ 1,032 $ 1,545 Distributors 266 299 Retailers 156 191 Total $ 1,454 $ 2,035 Revenues by Geography (1) Asia Pacific $ 811 $ 801 Americas 455 936 EMEA 188 298 Total $ 1,454 $ 2,035 _____________________________ (1) Revenue is attributed to geography based on bill from locations.

Guarantees

Guarantees	3 Months Ended
	Sep. 29, 2023
Guarantees [Abstract]
Guarantees	Guarantees 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 an d 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 three months ended September 29, 2023 and September 30, 2022 were as follows: For the Three Months Ended (Dollars in millions) September 29, 2023 September 30, 2022 Balance, beginning of period $ 168 $ 148 Warranties issued 13 13 Repairs and replacements (18) (24) Changes in liability for pre-existing warranties, including expirations 13 12 Balance, end of period $ 176 $ 149

Earnings Per Share

Earnings Per Share	3 Months Ended
	Sep. 29, 2023
Earnings Per Share [Abstract]
Earnings Per Share	(Loss) Earnings Per Share Basic (loss) 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 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 (loss) income per share attributable to the shareholders of the Company: For the Three Months Ended (In millions, except per share data) September 29, 2023 September 30, 2022 Numerator: Net (loss) income $ (184) $ 29 Number of shares used in per share calculations: Total shares for purposes of calculating basic net (loss) income per share 208 208 Weighted-average effect of dilutive securities: Employee equity award plans — 2 Total shares for purposes of calculating diluted net (loss) income per share 208 210 Net (loss) income per share: Basic $ (0.88) $ 0.14 Diluted $ (0.88) $ 0.14

Legal, Environmental and Other

Legal, Environmental and Other Contingencies	3 Months Ended
	Sep. 29, 2023
Commitments and Contingencies Disclosure [Abstract]
Legal, Environmental and Other Contingencies	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 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,” seeking damages as well as additional relief. The district court entered judgement in favor of Seagate on April 19, 2022. The parties filed post-trial motions with the district court in May 2022. On November 22, 2022, the court denied all pending post-trial motions. Lambeth Magnetic Structures LLC filed a notice of appeal to the Federal Circuit on December 20, 2022. A hearing date has not been set. The Company believes the asserted claims are without merit and intends to vigorously defend this case. Seagate Technology LLC, et al. v. Headway Technologies, Inc., et al. On February 18, 2020, Seagate Technology LLC, Seagate Technology (Thailand) Ltd., Seagate Singapore International Headquarters Pte. Ltd. and Seagate Technology International (collectively, the “Seagate Entities”) filed a complaint in the U.S. 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 defendant misused confidential information that the Seagate Entities had provided pursuant to nondisclosure agreements, in breach of their contractual obligations; and that the Seagate Entities paid artificially high prices on purchases of suspension assemblies. The Seagate Entities seek to recover the overcharges they paid for suspension assemblies, as well as additional relief permitted by law. On March 22, 2022, the Seagate Entities dismissed with prejudice all claims being asserted against Defendants TDK Corporation, Hutchinson Technology Inc. and their subsidiaries and affiliates (collectively “TDK”) relating to the antitrust law claims, the breach of contract claim and other matters described in the complaint. On April 8, 2022, the court entered an Amended Stipulation and Order of Dismissal with Prejudice to dismiss all claims against TDK. On August 2, 2022, NHK Spring Co. Ltd. filed a motion for Partial Summary Judgment Regarding Foreign Commerce and on October 14, 2022, the Seagate Entities filed their corresponding opposition. On May 15, 2023, the court issued a ruling that Seagate’s antitrust claims can proceed as to suspension assemblies that enter the United States but not as to suspension assembles that do not enter the United States. On July 28, 2023, the judge initiated a reconsideration of this ruling and requested further briefing. A trial date has not been set. In re Seagate Technology Holdings plc Securities Litigation. A putative class action lawsuit alleging violations of the federal securities laws, UA Local 38 Defined Contribution Pension Plan, et al. v. Seagate Technology Holdings PLC, et al., was filed on July 10, 2023, in the U.S. District Court for the Northern District of California against Seagate Technology Holdings plc, Dr. William D. Mosley, and Gianluca Romano. The complaint alleges that it is a securities class action on behalf of all purchasers of Seagate common stock between September 15, 2020 and October 25, 2022, inclusive, and asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b5-1. The complaint seeks unspecified monetary damages and other relief. A second action, Public Employees’ Retirement System of Mississippi v. Seagate Technology Holdings plc, William David Mosley, and Gianluca Romano, was filed on July 26, 2023, asserting similar claims. The cases were consolidated on September 25, 2023. An amended complaint was filed on October 19, 2023. The Company believes that the asserted claims are without merit and intends to vigorously defend these cases. 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 United States, 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 fail 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. BIS Settlement On April 18, 2023, the Company’s subsidiaries Seagate Technology LLC and Seagate Singapore International Headquarters Pte. Ltd (collectively, “Seagate”), entered into a settlement agreement (the “Settlement Agreement”) with the U.S. Department of Commerce’s Bureau of Industry and Security (“BIS”) that resolves BIS’ allegations regarding Seagate’s sales of hard disk drives to Huawei between August 17, 2020 and September 29, 2021. Under the terms of the Settlement Agreement, Seagate has agreed to pay $300 million to BIS in quarterly installments of $15 million over the course of five years beginning October 31, 2023. Seagate has also agreed to complete three audits of its compliance with the license requirements of Section 734.9 of the U.S. Export Administration Regulations (“EAR”), including one audit by an unaffiliated third-party consultant chosen by Seagate with expertise in U.S. export control laws and two internal audits. The Settlement Agreement also includes a denial order that is suspended and will be waived five years after the date of the order issued under the Settlement Agreement, provided that Seagate has made full and timely payments under the Settlement Agreement and timely completed the audit requirements. While Seagate is in compliance with and upon successful compliance in full with the terms of the Settlement Agreement, BIS has agreed it will not initiate any further administrative proceedings against Seagate in connection with any violation of the EAR arising out of the transactions detailed in the Settlement Agreement. While Seagate believed that it complied with all relevant export control laws at the time it made the hard disk drive sales at issue, Seagate determined that engaging with BIS and settling this matter was in the best interest of the Company, its customers, and its shareholders. In determining to engage with BIS and resolve this matter through a settlement agreement, the Company considered a number of factors, including the risks and cost of protracted litigation involving the U.S. government, as well as the size of the potential penalty and the Company’s desire to focus on current business challenges and long-term business strategy. The Settlement Agreement includes a finding that the Company incorrectly interpreted the regulation at issue to require evaluation of only the last stage of Seagate’s hard disk drive manufacturing process rather than the entire process. As part of this settlement, Seagate has agreed not to contest BIS’ determination that the sales in question did not comply with the U.S. EAR. The Company accrued a charge of $300 million during fiscal year 2023, of which $60 million and $240 million were included in Accrued expense and Other non-current liabilities, respectively, on its Condensed Consolidated Balance Sheets as of September 29, 2023. Other Matters From time to time, arising in the normal course of business, the Company is involved in a number of other judicial, regulatory or administrative proceedings and investigations incidental to its business, and the Company expects to 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.

Commitments

Commitments	3 Months Ended
	Sep. 29, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments	Commitments Unconditional Long-Term Purchase Obligations. As of September 29, 2023, the Company had unconditional long-term purchase obligations of approximately $2.6 billion , primarily related to purchases of inventory components. The Company expects the commitment to t otal $184 million, $223 million, $1.5 billion and $739 million for fiscal years 2025, 2026, 2027, and 2028, respectively .

Subsequent event

Subsequent event	3 Months Ended
	Sep. 29, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Dividend Declared On October 26, 2023, the Company’s Board of Directors declared a quarterly cash dividend of $0.70 per share, which will be payable on January 9, 2024 to shareholders of record as of the close of business on December 21, 2023.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net (loss) income	$ (184)	$ 29

Insider Trading Arrangements

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

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 29, 2023
Accounting Policies [Abstract]
Basis of Presentation and Consolidation, Policy	The Company’s Consolidated Financial Statements for the fiscal year ended June 30, 2023 are included in its Annual Report on Form 10-K, as filed with the U.S. Securities and Exchange Commission (“SEC”) on August 4, 2023. 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 June 30, 2023, and the notes thereto, are adequate to make the information presented not misleading. The results of operations for the three months ended September 29, 2023 are not necessarily indicative of the results to be expected for any subsequent interim period or for the Company’s fiscal year ending June 28, 2024.
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. Both the three months ended September 29, 2023 and September 30, 2022 consisted of 13 weeks. Fiscal years 2024 and 2023 both comprise 52 weeks and end on June 28, 2024 and June 30, 2023, respectively. The fiscal quarters ended September 29, 2023, June 30, 2023 and September 30, 2022, are also referred to herein as the “September 2023 quarter”, the “June 2023 quarter” and the “September 2022 quarter”, respectively.
Recently Issued Accounting Pronouncements, Policy	Recently Adopted Accounting Pronouncements In September 2022, the FASB issued ASU 2022-04 (ASC Subtopic 405-50), Disclosure of Supplier Finance Program Obligations
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 Basis From time to time, the Company enters into certain strategic investments for the promotion of business and strategic objectives, which are accounted for either under the equity method or the measurement alternative. Investments under the measurement alternative are recorded at cost, less impairment and adjusted for qualifying observable price changes on a prospective basis. If measured at fair value in the Condensed Consolidated Balance Sheets, these investments would generally be classified in Level 3 of the fair value hierarchy. For the investments that are accounted for under the equity method, the Company recorded an immaterial loss for the three months ended September 29, 2023 and a net loss of $3 million for the three months ended September 30, 2022. The adjusted carrying value of the investments accounted for under the equity method amounted to $55 million and $55 million as of September 29, 2023 and June 30, 2023, respectively. For the investments that are accounted for under the measurement alternative, there was no adjustment for the three months ended September 29, 2023. The Company recorded a net gain of $3 million for the three months ended September 30, 2022, which remained unrealized as of September 30, 2022, related to upward adjustments due to observable price changes. As of September 29, 2023 and June 30, 2023, the carrying value of the Company’s strategic investments under the measurement alternative was $89 million and $88 million, respectively.
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.
Property, Plant and Equipment, Policy	Other Long-Lived Assets In accordance with its policy, the Company reviews the estimated useful lives of its fixed assets on an ongoing basis. Effective from the first quarter of fiscal year 2024, the Company changed the useful lives of certain manufacturing equipment from a range of three three $10 million and $0.05, respectively,
Reclassification, Comparability Adjustment	Other Long-Lived Assets In accordance with its policy, the Company reviews the estimated useful lives of its fixed assets on an ongoing basis. Effective from the first quarter of fiscal year 2024, the Company changed the useful lives of certain manufacturing equipment from a range of three three $10 million and $0.05, respectively,

Fair Value Measures and Disclos

Fair Value Measures and Disclosures (Policies)	3 Months Ended
	Sep. 29, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments, Policy	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, which are accounted for either under the equity method or the measurement alternative. Investments under the measurement alternative are recorded at cost, less impairment and adjusted for qualifying observable price changes on a prospective basis. If measured at fair value in the Condensed Consolidated Balance Sheets, these investments would generally be classified in Level 3 of the fair value hierarchy. For the investments that are accounted for under the equity method, the Company recorded an immaterial loss for the three months ended September 29, 2023 and a net loss of $3 million for the three months ended September 30, 2022. The adjusted carrying value of the investments accounted for under the equity method amounted to $55 million and $55 million as of September 29, 2023 and June 30, 2023, respectively. For the investments that are accounted for under the measurement alternative, there was no adjustment for the three months ended September 29, 2023. The Company recorded a net gain of $3 million for the three months ended September 30, 2022, which remained unrealized as of September 30, 2022, related to upward adjustments due to observable price changes. As of September 29, 2023 and June 30, 2023, the carrying value of the Company’s strategic investments under the measurement alternative was $89 million and $88 million, respectively.
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)	3 Months Ended
	Sep. 29, 2023
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 available-for-sale debt investments as of September 29, 2023 and June 30, 2023: September 29, 2023 June 30, 2023 (Dollars in millions) Amortized Cost Unrealized Gain/(Loss) Fair Value Amortized Cost Unrealized Gain/(Loss) Fair Value Available-for-sale debt securities: Money market funds $ 121 $ — $ 121 $ 73 $ — $ 73 Time deposits and certificates of deposit 1 — 1 1 — 1 Other debt securities 15 — 15 16 — 16 Total $ 137 $ — $ 137 $ 90 $ — $ 90 Included in Cash and cash equivalents $ 120 $ 72 Included in Other current assets 2 2 Included in Other assets, net 15 16 Total $ 137 $ 90
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 September 29, 2023, by remaining contractual maturity were as follows: (Dollars in millions) Amortized Cost Fair Value Due in less than 1 year $ 122 $ 122 Due in 1 to 5 years 15 15 Due in 6 to 10 years — — Thereafter — — Total $ 137 $ 137
Cash, cash equivalents, and restricted cash	The following table provides a summary of cash, cash equivalents and restricted cash reported within 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) September 29, 2023 June 30, 2023 September 30, 2022 July 1, 2022 Cash and cash equivalents $ 795 $ 786 $ 761 $ 615 Restricted cash included in Other current assets 2 2 2 2 Total cash, cash equivalents and restricted cash shown in the Statements of Cash Flows $ 797 $ 788 $ 763 $ 617
Inventories	The following table provides details of the inventory balance sheets item: (Dollars in millions) September 29, 2023 June 30, 2023 Raw materials and components $ 243 $ 241 Work-in-process 657 682 Finished goods 152 217 Total inventories $ 1,052 $ 1,140 Other Current Assets The following table provides details of the other current assets balance sheets item: (Dollars in millions) September 29, 2023 June 30, 2023 Vendor receivables $ 109 $ 167 Other current assets 159 191 Total $ 268 $ 358
Property, Equipment and Leasehold Improvements, net	The components of property, equipment and leasehold improvements, net, were as follows: (Dollars in millions) September 29, 2023 June 30, 2023 Property, equipment and leasehold improvements $ 10,260 $ 10,267 Accumulated depreciation and amortization (8,608) (8,561) Property, equipment and leasehold improvements, net $ 1,652 $ 1,706
Accrued expenses	The following table provides details of the accrued expenses balance sheets item: (Dollars in millions) September 29, 2023 June 30, 2023 Dividends payable $ 146 $ 145 Other accrued expenses 644 603 Total $ 790 $ 748
Schedule of accumulated other comprehensive income (loss)	The components of AOCI, 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 June 30, 2023 $ 103 $ (4) $ (1) $ 98 Other comprehensive income before reclassifications (22) — — (22) Amounts reclassified from AOCI (92) — 1 (91) Other comprehensive loss (114) — 1 (113) Balance at September 29, 2023 $ (11) $ (4) $ — $ (15) Balance at July 1, 2022 $ 51 $ (14) $ (1) $ 36 Other comprehensive income before reclassifications 32 1 — 33 Amounts reclassified from AOCI 5 — (1) 4 Other comprehensive income 37 1 (1) 37 Balance at September 30, 2022 $ 88 $ (13) $ (2) $ 73

Debt (Tables)

Debt (Tables)	3 Months Ended
	Sep. 29, 2023
Debt Disclosure [Abstract]
Schedule of Debt	The following table provides details of the Company’s debt as of September 29, 2023 and June 30, 2023: (Dollars in millions) September 29, 2023 June 30, 2023 Unsecured Senior Notes (1) $1,000 issued on May 28, 2014 at 4.75% due January 1, 2025 (the “2025 Notes”) , interest payable semi-annually on January 1 and July 1 of each year. $ 479 $ 479 $700 issued on May 14, 2015 at 4.875% due June 1, 2027 (the “2027 Notes”) , interest payable semi-annually on June 1 and December 1 of each year. 504 504 $500 issued on June 18, 2020 at 4.091% due June 1, 2029 (the “June 2029 Notes”) , interest payable semi-annually on June 1 and December 1 of each year. 467 465 $500 issued on December 8, 2020 at 3.125% due July 15, 2029 (the “July 2029 Notes”) , interest payable semi-annually on January 15 and July 15 of each year. 163 163 $500 issued on May 30, 2023 at 8.25% due December 15, 2029 ( the “December 2029 Notes” ), interest payable semi-annually on June 15 and December 15 of each year. 500 500 $500 issued on June 10, 2020 at 4.125% due January 15, 2031 (the “January 2031 Notes”) , interest payable semi-annually on January 15 and July 15 of each year. 275 275 $500 issued on December 8, 2020 at 3.375% due July 15, 2031 (the “July 2031 Notes”) , interest payable semi-annually on January 15 and July 15 of each year. 72 72 $500 issued on May 30, 2023 at 8.50% due July 15, 2031 ( the “8.50% July 2031 Notes” ), interest payable semi-annually on January 15 and July 15 of each year. 500 500 $750 issued on November 30, 2022 at 9.625% due December 1, 2032 ( the “ 2032 Notes ”), interest payable semi-annually on June 1 and December 1 of each year. 750 750 $500 issued on December 2, 2014 at 5.75% due December 1, 2034 (the “2034 Notes”) , interest payable semi-annually on June 1 and December 1 of each year. 489 489 Convertible Senior Notes (1) $1,500 issued on September 13, 2023 at 3.50% due June 1, 2028 ( the “2028 Notes” ), interest payable semi-annually on March 1 and September 1 of each year. 1,500 — Term Loans $600 borrowed on October 14, 2021 at SOFR plus a variable margin ranging from 1.125% to 2.375%, ( the “Term Loan A1”) , repayable in quarterly installments beginning on December 31, 2022, with a final maturity date of September 16, 2025. — 430 $600 borrowed on October 14, 2021 at SOFR plus a variable margin ranging from 1.25% to 2.5%, ( the “Term Loan A2”) , repayable in quarterly installments beginning on December 31, 2022, with a final maturity date of July 30, 2027. — 430 $600 borrowed on August 18, 2022 at SOFR plus a variable margin ranging from 1.25% to 2.5%, ( the “ Term Loan A3 ”), repayable in quarterly installments beginning on December 31, 2022, with a final maturity date of July 30, 2027. — 430 5,699 5,487 Less: unamortized debt issuance costs (33) (36) Debt, net of debt issuance costs 5,666 5,451 Less: current portion of long-term debt — (63) Long-term debt, less current portion $ 5,666 $ 5,388 _____________________________ (1) All unsecured senior notes and convertible senior notes are issued by Seagate HDD Cayman (“Seagate HDD”), and the obligations under these notes are fully and unconditionally guaranteed, on a senior unsecured basis, by Seagate Technology Unlimited Company (“STUC”) and STX.
Future principal payments on long-term debt	At September 29, 2023, future principal payments on long-term debt were as follows (in millions): Fiscal Year Principal Amount Remainder of 2024 $ — 2025 479 2026 — 2027 505 2028 1,500 Thereafter 3,245 Total $ 5,729

Restructuring and Exit Costs Re

Restructuring and Exit Costs Restructuring and Exit Costs (Tables)	3 Months Ended
	Sep. 29, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	The following table summarizes the Company’s restructuring activities under its active restructuring plans: April 2023 Plan October 2022 Plan Other Plans (Dollars in millions) Workforce Reduction Costs Facilities and Other Exit Costs Workforce Reduction Costs Facilities and Other Exit Costs Workforce Reduction Costs Facilities and Other Exit Costs Total Accrual balances at June 30, 2023 $ 108 $ — $ 1 $ 5 $ 1 $ 4 $ 119 Restructuring charges — — — — 3 — 3 Cash payments (87) — (1) — (1) — (89) Adjustments (1) — — — — — (1) Accrual balances at September 29, 2023 $ 20 $ — $ — $ 5 $ 3 $ 4 $ 32 Total costs incurred inception to date as of September 29, 2023 $ 144 $ 3 $ 104 $ 7 $ 66 $ 13 $ 337 Total expected charges to be incurred as of September 29, 2023 $ — $ — $ — $ — $ — $ 1 $ 1

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Sep. 29, 2023
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 September 29, 2023 and June 30, 2023. All of the foreign currency forward exchange contracts mature within 12 months. As of September 29, 2023 (Dollars in millions) Contracts Designated as Hedges Contracts Not Designated as Hedges Singapore Dollar $ 154 $ 154 Thai Baht 112 19 Chinese Renminbi 53 13 British Pound Sterling 43 20 Total $ 362 $ 206 As of June 30, 2023 (Dollars in millions) Contracts Designated as Hedges Contracts Not Designated as Hedges Singapore Dollar $ 195 $ 161 Thai Baht 129 16 Chinese Renminbi 64 12 British Pound Sterling 57 8 Total $ 445 $ 197
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 September 29, 2023 and June 30, 2023: As of September 29, 2023 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 $ — Accrued expenses $ (14) Derivatives not designated as hedging instruments: Foreign currency forward exchange contracts Other current assets — Accrued expenses (4) Total derivatives $ — $ (18) As of June 30, 2023 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 $ (10) Interest rate swap Other current assets 20 Accrued expenses — Derivatives not designated as hedging instruments: Foreign currency forward exchange contracts Other current assets — Accrued expenses (1) Total return swap Other current assets 1 Accrued expenses — Total derivatives $ 23 $ (11)
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 months ended September 29, 2023: (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 Foreign currency forward exchange contracts Other, net $ (6) Total return swap Operating expenses (3) (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) (1) Amount of Gain/(Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing) Foreign currency forward exchange contracts $ (7) Cost of revenue $ (1) Other, net $ — Interest rate swap (15) Interest expense 11 Net gain recognized from termination of interest rate swap 104 _____________________________ (1) The net gain recognized into earnings as a result of the discontinuance of interest rate swap during the three months ended September 29, 2023. 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 months ended September 30, 2022 : (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 Foreign currency forward exchange contracts Other, net $ (10) Total return swap Operating expenses (8) (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) Foreign currency forward exchange contracts $ (20) Cost of revenue $ (7) Other, net $ (1) Interest rate swap 52 Interest expense 2 Interest expense —

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Sep. 29, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	September 29, 2023 June 30, 2023 Fair Value Measurements at Reporting Date Using 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 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 $ 120 $ — $ — $ 120 $ 72 $ — $ — $ 72 Total cash equivalents 120 — — 120 72 — — 72 Restricted cash and investments: Money market funds 1 — — 1 1 — — 1 Time deposits and certificates of deposit — 1 — 1 — 1 — 1 Other debt securities — — 15 15 — — 16 16 Derivative assets — — — — — 23 — 23 Total assets $ 121 $ 1 $ 15 $ 137 $ 73 $ 24 $ 16 $ 113 Liabilities: Derivative liabilities $ — $ 18 $ — $ 18 $ — $ 11 $ — $ 11 Total liabilities $ — $ 18 $ — $ 18 $ — $ 11 $ — $ 11
Schedule of Fair Value, by Balance Sheet Grouping, Measured on Recurring Basis	September 29, 2023 June 30, 2023 Fair Value Measurements at Reporting Date Using 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 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 $ 120 $ — $ — $ 120 $ 72 $ — $ — $ 72 Other current assets 1 1 — 2 1 24 — 25 Other assets, net — — 15 15 — — 16 16 Total assets $ 121 $ 1 $ 15 $ 137 $ 73 $ 24 $ 16 $ 113 Liabilities: Accrued expenses $ — $ 18 $ — $ 18 $ — $ 11 $ — $ 11 Total liabilities $ — $ 18 $ — $ 18 $ — $ 11 $ — $ 11

Equity (Tables)

Equity (Tables)	3 Months Ended
	Sep. 29, 2023
Equity [Abstract]
Schedule of Share Repurchases	The following table sets forth information with respect to repurchases of the Company’s ordinary shares during the three months ended September 29, 2023: (In millions) Number of Shares Repurchased Dollar Value of Shares Repurchased Tax withholding related to vesting of equity awards — 25 Total — $ 25

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Sep. 29, 2023
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 (Dollars in millions) September 29, 2023 September 30, 2022 Revenues by Channel OEMs $ 1,032 $ 1,545 Distributors 266 299 Retailers 156 191 Total $ 1,454 $ 2,035 Revenues by Geography (1) Asia Pacific $ 811 $ 801 Americas 455 936 EMEA 188 298 Total $ 1,454 $ 2,035 _____________________________ (1) Revenue is attributed to geography based on bill from locations.

Guarantees (Tables)

Guarantees (Tables)	3 Months Ended
	Sep. 29, 2023
Guarantees [Abstract]
Schedule of Product Warranty Liability	Changes in the Company’s product warranty liability during the three months ended September 29, 2023 and September 30, 2022 were as follows: For the Three Months Ended (Dollars in millions) September 29, 2023 September 30, 2022 Balance, beginning of period $ 168 $ 148 Warranties issued 13 13 Repairs and replacements (18) (24) Changes in liability for pre-existing warranties, including expirations 13 12 Balance, end of period $ 176 $ 149

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Sep. 29, 2023
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 (loss) income per share attributable to the shareholders of the Company: For the Three Months Ended (In millions, except per share data) September 29, 2023 September 30, 2022 Numerator: Net (loss) income $ (184) $ 29 Number of shares used in per share calculations: Total shares for purposes of calculating basic net (loss) income per share 208 208 Weighted-average effect of dilutive securities: Employee equity award plans — 2 Total shares for purposes of calculating diluted net (loss) income per share 208 210 Net (loss) income per share: Basic $ (0.88) $ 0.14 Diluted $ (0.88) $ 0.14

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Net (loss) income	$ (184)	$ 29
Diluted (in dollars per share)	$ (0.88)	$ 0.14
Other Long-Lived Assets Policy Update
Property, Plant and Equipment [Line Items]
Net (loss) income	$ 10
Diluted (in dollars per share)	$ 0.05
Minimum | Manufacturing Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years		3 years
Maximum | Manufacturing Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years		7 years

Balance Sheet Information (Summ

Balance Sheet Information (Summary of fair value and amortized cost of investments, by major type) (Details) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Available-for-sale debt securities:
Amortized Cost	$ 137	$ 90
Unrealized Gain/(Loss)	0	0
Fair Value	137	90
Cash and cash equivalents [Member]
Available-for-sale debt securities:
Fair Value	120	72
Other current assets [Member]
Available-for-sale debt securities:
Fair Value	2	2
Other Assets [Member]
Available-for-sale debt securities:
Fair Value	15	16
Money market funds [Member]
Available-for-sale debt securities:
Amortized Cost	121	73
Unrealized Gain/(Loss)	0	0
Fair Value	121	73
Time deposits and certificates of deposit [Member]
Available-for-sale debt securities:
Amortized Cost	1	1
Unrealized Gain/(Loss)	0	0
Fair Value	1	1
Other Debt Obligations [Member]
Available-for-sale debt securities:
Amortized Cost	15	16
Unrealized Gain/(Loss)	0	0
Fair Value	$ 15	$ 16

Balance Sheet Information Balan

Balance Sheet Information Balance Sheet Information (Available-for-Sale Debt Securities) (Details) $ in Millions	Sep. 29, 2023 USD ($)	Jun. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Jul. 01, 2022 USD ($)
Investments, Debt and Equity Securities [Abstract]
Restricted cash included in Other current assets	$ 2	$ 2	$ 2	$ 2
Available-for-sale debt securities in continuous unrealized loss position	0	0
Debt Securities, Available-for-Sale, Allowance for Credit Loss	$ 0

Balance Sheet Information (Fair

Balance Sheet Information (Fair value and amortized cost of available-for-sale securities by contractual maturity) (Details) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	$ 137	$ 90
Unrealized Gain/(Loss)	0	0
Fair Value	137	90
Amortized Cost
Amortized cost, due in less than 1 year	122
Amortized cost, due in 1 to 5 years	15
Amortized cost, due in 6 to 10 years	0
Amortized cost, thereafter	0
Amortized Cost	137
Fair Value
Fair value, due in less than 1 year	122
Fair value, due in 1 to 5 years	15
Fair value, due in 6 to 10 years	0
Fair value, thereafter	0
Fair Value	137
Money market funds [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	121	73
Unrealized Gain/(Loss)	0	0
Fair Value	121	73
Time deposits and certificates of deposit [Member]
Schedule of Held-to-maturity Securities [Line Items]
Debt Securities, Available-for-sale, Amortized Cost	1	1
Unrealized Gain/(Loss)	0	0
Fair Value	1	1
Cash and cash equivalents [Member]
Schedule of Held-to-maturity Securities [Line Items]
Fair Value	120	72
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	$ 15	$ 16

Balance Sheet Information (Cash

Balance Sheet Information (Cash, Cash Equivalents, and Restricted Cash) (Details) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023	Sep. 30, 2022	Jul. 01, 2022
Investments, Debt and Equity Securities [Abstract]
Cash and cash equivalents	$ 795	$ 786	$ 761	$ 615
Restricted cash included in Other current assets	2	2	2	2
Total cash, cash equivalents and restricted cash shown in the Statements of Cash Flows	$ 797	$ 788	$ 763	$ 617

Balance Sheet Information (Acco

Balance Sheet Information (Accounts Receivable) (Details) - USD ($) $ in Millions	Sep. 29, 2023	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Cash proceeds from sales of trade receivables	$ 292	$ 200
Continuing Involvement with Continued to be Recognized Transferred Financial Assets, Amount Outstanding	$ 363	$ 237

Balance Sheet Information (Inve

Balance Sheet Information (Inventories) (Details) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Inventory, Net [Abstract]
Raw materials and components	$ 243	$ 241
Work-in-process	657	682
Finished goods	152	217
Total inventories	$ 1,052	$ 1,140

Balance Sheet Information (Prop

Balance Sheet Information (Property, Equipment and Leasehold Improvements, net) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Property, equipment and leasehold improvements	$ 10,260		$ 10,267
Accumulated depreciation and amortization	(8,608)		(8,561)
Property, equipment and leasehold improvements, net	1,652		$ 1,706
Accelerated depreciation charges	$ 13	$ 22

Balance Sheet Information (Accr

Balance Sheet Information (Accrued expenses) (Details) - USD ($)	Sep. 29, 2023	Jun. 30, 2023
Payables and Accruals [Abstract]
Dividends payable	$ 146,000,000	$ 145,000,000
Other accrued expenses	644,000,000	603,000,000
Total	$ 790,000,000	$ 748,000,000

Balance Sheet Information (AOCI

Balance Sheet Information (AOCI) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ (1,199)	$ 109
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	1	(1)
Total other comprehensive (loss) income, net of tax	(113)	37
Ending balance	(1,702)	(351)
Accumulated Other Comprehensive Loss [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	98	36
Other comprehensive (loss) income before reclassifications	(22)	33
Amounts reclassified from AOCI	(91)	4
Total other comprehensive (loss) income, net of tax	(113)	37
Ending balance	(15)	73
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	103	51
(Gains) losses reclassified into earnings	(92)	5
Net change	(114)	37
Ending balance	(11)	88
Net unrealized (losses) gains arising during the period	(22)	32
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent
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	1
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(4)	(14)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax	0	0
Net change	0	1
Ending balance	(4)	(13)
Foreign currency translation adjustments [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(1)	(1)
Other comprehensive (loss) income before reclassifications	0	0
Amounts reclassified from AOCI	1	(1)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	1	(1)
Ending balance	$ 0	$ (2)

Balance Sheet Information (Othe

Balance Sheet Information (Other Current Assets) (Details) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Other Receivables, Net, Current	$ 109	$ 167
Other Assets, Miscellaneous, Current	159	191
Other current assets	$ 268	$ 358

Debt (Narrative) (Details)

Debt (Narrative) (Details)

3 Months Ended

Aug. 18, 2022 USD ($)

Oct. 14, 2021 USD ($)

Sep. 29, 2023 USD ($)

Sep. 30, 2022 USD ($)

Sep. 13, 2023 USD ($) $ / shares

Jun. 30, 2023 USD ($)

May 30, 2023 USD ($)

Nov. 30, 2022 USD ($)

Dec. 08, 2020 USD ($)

Jun. 18, 2020 USD ($)

Jun. 10, 2020 USD ($)

Sep. 20, 2019 USD ($)

May 14, 2015 USD ($)

Dec. 02, 2014 USD ($)

May 28, 2014 USD ($)

Debt Instrument [Line Items]

Less: current portion of debt, net of debt issuance costs

$ 0

$ (63,000,000)

Long-term debt, less current portion, net of debt issuance costs

5,666,000,000

5,388,000,000

Capped call transaction, price per share (in dollars per share) | $ / shares

$ 107.848

Capped call transaction, premium (as a percent)

0.70

Sale of stock, price per share (in dollars per share) | $ / shares

$ 63.44

Expenses related to the capped call transaction

95,000,000

Net loss recognized from early redemption of debt

29,000,000

$ 0

Minimum liquidity required

$ 700,000,000

Reported Value Measurement

Debt Instrument [Line Items]

Long-term debt, gross

5,699,000,000

5,487,000,000

Less: unamortized debt issuance costs

(33,000,000)

(36,000,000)

Debt, net of debt issuance costs

5,666,000,000

5,451,000,000

Less: current portion of debt, net of debt issuance costs

0

(63,000,000)

Long-term debt, less current portion, net of debt issuance costs

5,666,000,000

5,388,000,000

Senior Notes 4.75 Percent Due January 2025 | Reported Value Measurement

Debt Instrument [Line Items]

Senior Notes

479,000,000

479,000,000

Senior Notes 4.875 percent Due June 2027 | Reported Value Measurement

Debt Instrument [Line Items]

Senior Notes

504,000,000

504,000,000

Senior Notes 4.091 percent due June 2029 | Reported Value Measurement

Debt Instrument [Line Items]

Senior Notes

467,000,000

465,000,000

Senior Notes 3.125 percent due July 2029 | Reported Value Measurement

Debt Instrument [Line Items]

Senior Notes

163,000,000

163,000,000

Senior Notes 8.25 percent due December 2029 | Reported Value Measurement

Debt Instrument [Line Items]

Senior Notes

500,000,000

500,000,000

Senior Notes 4.125 percent due January 2031 | Reported Value Measurement

Debt Instrument [Line Items]

Senior Notes

275,000,000

275,000,000

Senior Notes 3.375 Percent due July 2031 | Reported Value Measurement

Debt Instrument [Line Items]

Senior Notes

72,000,000

72,000,000

Senior Notes 8.50 percent due July 2031 | Reported Value Measurement

Debt Instrument [Line Items]

Senior Notes

500,000,000

500,000,000

Senior Notes 9.625 Percent due December 2032 | Reported Value Measurement

Debt Instrument [Line Items]

Senior Notes

750,000,000

750,000,000

Senior notes 5.75 percent due December 2034 | Reported Value Measurement

Debt Instrument [Line Items]

Senior Notes

489,000,000

489,000,000

Convertible Senior Note 3.50 percent due June 2028 | Reported Value Measurement

Debt Instrument [Line Items]

Senior Notes

1,500,000,000

0

Convertible Debt

1,500,000,000

0

Term Loan A1 | Reported Value Measurement

Debt Instrument [Line Items]

Senior Notes

0

430,000,000

Term Loan A2 | Reported Value Measurement

Debt Instrument [Line Items]

Senior Notes

0

430,000,000

Term Loan A3 | Reported Value Measurement

Debt Instrument [Line Items]

Senior Notes

$ 0

$ 430,000,000

Senior note 3.50 percent due June 2028

Debt Instrument [Line Items]

Debt redemption price, percentage of total principal amount plus accrued interest (as a percent)

100%

Minimum principal amount outstanding required for redemption

$ 150,000,000

Term Loan | Debt Instrument, Leverage, Period One

Debt Instrument [Line Items]

Maximum interest coverage ratio

2.25

Minimum interest coverage ratio

1

Term Loan | Debt Instrument, Leverage, Period Two

Debt Instrument [Line Items]

Maximum interest coverage ratio

2.25

Minimum interest coverage ratio

1

Term Loan | Debt Instrument, Leverage, Period Three

Debt Instrument [Line Items]

Maximum interest coverage ratio

3.25

Minimum interest coverage ratio

1

Senior Notes | Senior Notes 4.75 Percent Due January 2025

Debt Instrument [Line Items]

Aggregate principal amount

$ 1,000,000,000

Stated interest rate (as a percent)

4.75%

Senior Notes | Senior Notes 4.875 percent Due June 2027

Debt Instrument [Line Items]

Aggregate principal amount

$ 700,000,000

Stated interest rate (as a percent)

4.875%

Senior Notes | Senior Notes 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 Notes 3.125 percent due July 2029

Debt Instrument [Line Items]

Aggregate principal amount

$ 500,000,000

Stated interest rate (as a percent)

3.125%

Senior Notes | Senior Notes 8.25 percent due December 2029

Debt Instrument [Line Items]

Aggregate principal amount

$ 500,000,000

Stated interest rate (as a percent)

8.25%

Senior Notes | Senior Notes 4.125 percent due January 2031

Debt Instrument [Line Items]

Aggregate principal amount

$ 500,000,000

Stated interest rate (as a percent)

4.125%

Senior Notes | Senior Notes 3.375 Percent due July 2031

Debt Instrument [Line Items]

Aggregate principal amount

$ 500,000,000

Stated interest rate (as a percent)

3.375%

Senior Notes | Senior Notes 8.50 percent due July 2031

Debt Instrument [Line Items]

Aggregate principal amount

$ 500,000,000

Stated interest rate (as a percent)

8.50%

Senior Notes | Senior Notes 9.625 Percent due December 2032

Debt Instrument [Line Items]

Aggregate principal amount

$ 750,000,000

Stated interest rate (as a percent)

9.625%

Senior Notes | Senior notes 5.75 percent due December 2034

Debt Instrument [Line Items]

Aggregate principal amount

$ 500,000,000

Stated interest rate (as a percent)

5.75%

Convertible Debt | Convertible Senior Note 3.50 percent due June 2028

Debt Instrument [Line Items]

Aggregate principal amount

$ 1,500,000,000

Stated interest rate (as a percent)

3.50%

Convertible Debt | Senior note 3.50 percent due June 2028

Debt Instrument [Line Items]

Aggregate principal amount pursuant to over-allotment option

$ 200,000,000

Term Loan A1 | Term Loan

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 600,000,000

Term Loan A2 | Term Loan

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 600,000,000

Term Loan A3 | Term Loan

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

$ 600,000,000

Tenth Amendment to Credit Agreement | Term Loan | Debt Instrument, Leverage, Period One

Debt Instrument [Line Items]

Maximum leverage ratio

6.75

Minimum leverage ratio

1

Tenth Amendment to Credit Agreement | Term Loan | Debt Instrument, Leverage, Period Two

Debt Instrument [Line Items]

Maximum leverage ratio

6.75

Minimum leverage ratio

1

Covenant relief period, maximum leverage ratio, minimum aggregate revolving commitments percentage required (as a percent)

0.25

Tenth Amendment to Credit Agreement | Term Loan | Debt Instrument, Leverage, Period Three

Debt Instrument [Line Items]

Maximum leverage ratio

4

Minimum leverage ratio

1

Terms Loans A1, A2 and A3

Debt Instrument [Line Items]

Net loss recognized from early redemption of debt

$ 29,000,000

Senior note 3.50 percent due June 2028 | Convertible Debt

Debt Instrument [Line Items]

Exchange rate per share

0.012153

Minimum | Term Loan A1

Debt Instrument [Line Items]

Variable interest rate (as a percent)

1.125%

Minimum | Term Loan A2

Debt Instrument [Line Items]

Variable interest rate (as a percent)

1.25%

Minimum | Term Loan A3

Debt Instrument [Line Items]

Variable interest rate (as a percent)

1.25%

Maximum | Senior note 3.50 percent due June 2028

Debt Instrument [Line Items]

Debt redemption price, percentage of total principal amount plus accrued interest (as a percent)

130%

Maximum | Term Loan A1

Debt Instrument [Line Items]

Variable interest rate (as a percent)

2.375%

Maximum | Term Loan A2

Debt Instrument [Line Items]

Variable interest rate (as a percent)

2.50%

Maximum | Term Loan A3

Debt Instrument [Line Items]

Variable interest rate (as a percent)

2.50%

Debt (Future principal payments

Debt (Future principal payments on long-term debt) (Details) $ in Millions	Sep. 29, 2023 USD ($)
Debt Disclosure [Abstract]
Repayments of long-term debt, remainder of 2021	$ 0
Repayments of long-term debt, 2022	479
Repayments of long-term debt, 2023	0
Repayments of long-term debt, 2024	505
Repayments of long-term debt, 2025	1,500
Thereafter	3,245
Total future principal payments on long-term debt	$ 5,729

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 37	$ (2)
Net discrete tax expense	33	$ (7)
Unrecognized Tax Benefits	$ 107
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	25%	25%
Unrecognized tax benefits, period increase (decrease)	$ (9)

Restructuring and Exit Costs (D

Restructuring and Exit Costs (Details) $ in Millions	3 Months Ended
	Sep. 29, 2023 USD ($)	Dec. 30, 2022 numberOfEmployees	Sep. 30, 2022 USD ($)	Jun. 30, 2023 numberOfEmployees
Restructuring Reserve [Roll Forward]
Restructuring charges	$ 2		$ 9
Restructuring and other, net	2		$ 9
Adjustments	(1)
Approximate headcount reduction | numberOfEmployees		480
Total headcount reduction, inception to date | numberOfEmployees				3,480
Employee severance [Member] | Other Restructuring Plans [Member]
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning balance	1
Restructuring charges	3
Cash payments	(1)
Restructuring accrual, ending balance	3
Total costs incurred inception to date as of September 29, 2023	66
Total expected charges to be incurred as of September 29, 2023	0
Adjustments	0
Employee severance [Member] | October 2022 Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning balance	1
Restructuring charges	0
Cash payments	(1)
Restructuring accrual, ending balance	0
Total costs incurred inception to date as of September 29, 2023	104
Total expected charges to be incurred as of September 29, 2023	0
Employee severance [Member] | April 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning balance	108
Restructuring charges	0
Cash payments	(87)
Restructuring accrual, ending balance	20
Total costs incurred inception to date as of September 29, 2023	144
Expected restructuring costs	0
Adjustments	(1)
Facility closing [Member] | Other Restructuring Plans [Member]
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning balance	4
Restructuring charges	0
Cash payments	0
Restructuring accrual, ending balance	4
Total costs incurred inception to date as of September 29, 2023	13
Total expected charges to be incurred as of September 29, 2023	1
Adjustments	0
Facility closing [Member] | October 2022 Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning balance	5
Restructuring charges	0
Cash payments	0
Restructuring accrual, ending balance	5
Total costs incurred inception to date as of September 29, 2023	7
Total expected charges to be incurred as of September 29, 2023	0
Facility closing [Member] | April 2023 Restructuring Plan
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning balance	0
Restructuring charges	0
Cash payments	0
Restructuring accrual, ending balance	0
Total costs incurred inception to date as of September 29, 2023	3
Expected restructuring costs	0
Restructuring Charges [Member]
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning balance	119
Restructuring charges	3
Cash payments	(89)
Restructuring accrual, ending balance	32
Total costs incurred inception to date as of September 29, 2023	337
Total expected charges to be incurred as of September 29, 2023	1
Restructuring Charges [Member] | Accrued Liabilities
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning balance	117
Restructuring accrual, ending balance	30
Restructuring Charges [Member] | Other Noncurrent Liabilities
Restructuring Reserve [Roll Forward]
Restructuring accrual, beginning balance	2
Restructuring accrual, ending balance	$ 2

Derivative Financial Instrume_3

Derivative Financial Instruments Derivative Financial Instruments (Narrative) (Details) - USD ($) $ in Millions		3 Months Ended		12 Months Ended
	Sep. 13, 2023	Sep. 29, 2023	Sep. 30, 2022	Jun. 30, 2023
Derivative Financial Instruments
Net gain recognized from termination of interest rate swap		$ 104	$ 0
Interest rate swap
Derivative Financial Instruments
Derivative, Cash Received on Hedge	$ 25
Other Comprehensive Income (Loss), Cash Flow Hedge, Reclassification for Discontinuance, before Tax		6
Cash Flow Hedging [Member]
Derivative Financial Instruments
Unrealized Gain (Loss) on Cash Flow Hedging Instruments		(14)		$ 12
Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months		(14)
Derivatives not designated as hedging instruments [Member] | Total return swap
Derivative Financial Instruments
Derivative, notional amount		$ 101

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
	Sep. 29, 2023	Sep. 30, 2022
Foreign currency forward exchange contracts | Other, net
Derivatives Instruments, Gain (Loss)
Amount of Gain/(Loss) Recognized in Income on Derivatives	$ (6)	$ (10)
Amount of Gain/(Loss) Recognized in OCI on Derivatives (Effective Portion)	(7)	(20)
Amount of Gain/(Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)	0	(1)
Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		(7)
Interest rate swap | Other, net
Derivatives Instruments, Gain (Loss)
Amount of Gain/(Loss) Recognized in OCI on Derivatives (Effective Portion)	(15)	52
Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	11
Amount of Gain/(Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)	104	0
Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		2
Interest rate swap | Operating expenses
Derivatives Instruments, Gain (Loss)
Amount of Gain/(Loss) Recognized in Income on Derivatives	(3)	$ (8)
Foreign Exchange | Other, net
Derivatives Instruments, Gain (Loss)
Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	$ (1)

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 - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Designated as Hedging Instrument [Member]
Derivative Financial Instruments
Derivative, notional amount	$ 362	$ 445
Derivatives not designated as hedging instruments [Member]
Derivative Financial Instruments
Derivative, notional amount	206	197
Singapore, Dollars | Designated as Hedging Instrument [Member]
Derivative Financial Instruments
Derivative, notional amount	154	195
Singapore, Dollars | Derivatives not designated as hedging instruments [Member]
Derivative Financial Instruments
Derivative, notional amount	154	161
China, Yuan Renminbi | Designated as Hedging Instrument [Member]
Derivative Financial Instruments
Derivative, notional amount	53	64
China, Yuan Renminbi | Derivatives not designated as hedging instruments [Member]
Derivative Financial Instruments
Derivative, notional amount	13	12
United Kingdom, Pounds | Designated as Hedging Instrument [Member]
Derivative Financial Instruments
Derivative, notional amount	43	57
United Kingdom, Pounds | Derivatives not designated as hedging instruments [Member]
Derivative Financial Instruments
Derivative, notional amount	20	8
Thailand, Baht | Designated as Hedging Instrument [Member]
Derivative Financial Instruments
Derivative, notional amount	112	129
Thailand, Baht | Derivatives not designated as hedging instruments [Member]
Derivative Financial Instruments
Derivative, notional amount	$ 19	$ 16

Derivative Financial Instrume_6

Derivative Financial Instruments Derivative Financial Instruments (Schedule of gross fair value of derivative instruments) (Details) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	$ 0	$ 23
Derivative liability, fair value, gross liability	(18)	(11)
Foreign currency forward exchange contracts | Designated as Hedging Instrument [Member] | Other current assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	2
Foreign currency forward exchange contracts | Designated as Hedging Instrument [Member] | Accrued Expenses [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, fair value, gross liability	(14)	(10)
Foreign currency forward exchange contracts | Derivatives not designated as hedging instruments [Member] | Other current assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset	0	0
Foreign currency forward exchange contracts | Derivatives not designated as hedging instruments [Member] | Accrued Expenses [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, fair value, gross liability	$ (4)	(1)
Interest rate swap | Designated as Hedging Instrument [Member] | Other current assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset		20
Interest rate swap | Designated as Hedging Instrument [Member] | Accrued Expenses [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, fair value, gross liability		0
Total return swap | Derivatives not designated as hedging instruments [Member] | Other current assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, fair value, gross asset		(1)
Total return swap | Derivatives not designated as hedging instruments [Member] | Accrued Expenses [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, fair value, gross liability		$ 0

Fair Value (Schedule of Fair Va

Fair Value (Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis) (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Sep. 29, 2023	Jun. 30, 2023
Liabilities:
Net gains (losses) from investment under measurement alternative	$ 3,000
Recurring basis [Member]
Assets:
Total cash equivalents		$ 120,000	$ 72,000
Restricted cash and investments:
Total assets		137,000	113,000
Liabilities:
Total liabilities		18,000	(11,000)
Recurring basis [Member] | Money market funds [Member]
Assets:
Total cash equivalents		120,000	72,000
Restricted cash and investments:
Restricted cash and investments:		1,000	1,000
Recurring basis [Member] | Time deposits and certificates of deposit [Member]
Restricted cash and investments:
Restricted cash and investments:		1,000	1,000
Recurring basis [Member] | Other debt securities
Restricted cash and investments:
Restricted cash and investments:		15,000	16,000
Recurring basis [Member] | Quoted Prices in Active Markets for Identical Instruments (Level 1) [Member]
Assets:
Total cash equivalents		120,000	72,000
Restricted cash and investments:
Total assets		121,000	73,000
Liabilities:
Total liabilities		0	0
Recurring basis [Member] | Quoted Prices in Active Markets for Identical Instruments (Level 1) [Member] | Money market funds [Member]
Assets:
Total cash equivalents		120,000	72,000
Restricted cash and investments:
Restricted cash and investments:		1,000	1,000
Recurring basis [Member] | Quoted Prices in Active Markets for Identical Instruments (Level 1) [Member] | Time deposits and certificates of deposit [Member]
Restricted cash and investments:
Restricted cash and investments:		0	0
Recurring basis [Member] | Quoted Prices in Active Markets for Identical Instruments (Level 1) [Member] | Other debt securities
Restricted cash and investments:
Restricted cash and investments:		0	0
Recurring basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets:
Total cash equivalents		0	0
Restricted cash and investments:
Total assets		1,000	24,000
Liabilities:
Total liabilities		18,000	(11,000)
Recurring basis [Member] | 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
Recurring basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Time deposits and certificates of deposit [Member]
Restricted cash and investments:
Restricted cash and investments:		1,000	1,000
Recurring basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Other debt securities
Restricted cash and investments:
Restricted cash and investments:		0	0
Recurring basis [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets:
Total cash equivalents		0	0
Restricted cash and investments:
Total assets		15,000	16,000
Liabilities:
Total liabilities		0	0
Recurring basis [Member] | 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
Recurring basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Time deposits and certificates of deposit [Member]
Restricted cash and investments:
Restricted cash and investments:		0	0
Recurring basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Other debt securities
Restricted cash and investments:
Restricted cash and investments:		15,000	16,000
Derivative assets | Recurring basis [Member]
Restricted cash and investments:
Derivative assets		0	23,000
Derivative assets | Recurring basis [Member] | Quoted Prices in Active Markets for Identical Instruments (Level 1) [Member]
Restricted cash and investments:
Derivative assets		0	0
Derivative assets | Recurring basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Restricted cash and investments:
Derivative assets		0	23,000
Derivative assets | Recurring basis [Member] | Significant Unobservable Inputs (Level 3) [Member]
Restricted cash and investments:
Derivative assets		0	0
Derivative liabilities | Recurring basis [Member]
Liabilities:
Derivative liabilities		18,000	(11,000)
Derivative liabilities | Recurring basis [Member] | Quoted Prices in Active Markets for Identical Instruments (Level 1) [Member]
Liabilities:
Derivative liabilities		0	0
Derivative liabilities | Recurring basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Liabilities:
Derivative liabilities		18,000	(11,000)
Derivative liabilities | Recurring basis [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	Sep. 29, 2023	Jun. 30, 2023
Assets:
Cash and cash equivalents	$ 120	$ 72
Other current assets	2	25
Other current assets	15	16
Total assets	137	113
Liabilities:
Accrued expenses	18	11
Total liabilities	18	(11)
Derivative assets
Liabilities:
Derivative assets	0	23
Quoted Prices in Active Markets for Identical Instruments (Level 1) [Member]
Assets:
Cash and cash equivalents	120	72
Other current assets	1	1
Other current assets	0	0
Total assets	121	73
Liabilities:
Accrued expenses	0	0
Total liabilities	0	0
Quoted Prices in Active Markets for Identical Instruments (Level 1) [Member] | Derivative assets
Liabilities:
Derivative assets	0	0
Significant Other Observable Inputs (Level 2) [Member]
Assets:
Cash and cash equivalents	0	0
Other current assets	1	24
Other current assets	0	0
Total assets	1	24
Liabilities:
Accrued expenses	18	11
Total liabilities	18	(11)
Significant Other Observable Inputs (Level 2) [Member] | Derivative assets
Liabilities:
Derivative assets	0	23
Significant Unobservable Inputs (Level 3) [Member]
Assets:
Cash and cash equivalents	0	0
Other current assets	0	0
Other current assets	15	16
Total assets	15	16
Liabilities:
Accrued expenses	0	0
Total liabilities	0	0
Significant Unobservable Inputs (Level 3) [Member] | Derivative assets
Liabilities:
Derivative assets	$ 0	$ 0

Fair Value (Schedule of Carryin

Fair Value (Schedule of Carrying Values and Estimated Fair Values of Debt Instruments) (Details) - USD ($) $ in Millions	Sep. 29, 2023	Jun. 30, 2023
Debt Fair Value Disclosures
Less: current portion of debt, net of debt issuance costs	$ 0	$ (63)
Long-term debt, less current portion, net of debt issuance costs	5,666	5,388
Reported Value Measurement
Debt Fair Value Disclosures
Long-term debt, gross	5,699	5,487
Debt issuance costs	(33)	(36)
Debt, net of debt issuance costs	5,666	5,451
Less: current portion of debt, net of debt issuance costs	0	(63)
Long-term debt, less current portion, net of debt issuance costs	5,666	5,388
Reported Value Measurement | Senior Notes 4.75 Percent Due January 2025
Debt Fair Value Disclosures
Senior Notes	479	479
Reported Value Measurement | Senior Notes 4.875 percent Due June 2027
Debt Fair Value Disclosures
Senior Notes	504	504
Reported Value Measurement | Convertible Senior Note 3.50 percent due June 2028
Debt Fair Value Disclosures
Senior Notes	1,500	0
Reported Value Measurement | Senior Notes 4.091 percent due June 2029
Debt Fair Value Disclosures
Senior Notes	467	465
Reported Value Measurement | Senior Notes 3.125 percent due July 2029
Debt Fair Value Disclosures
Senior Notes	163	163
Reported Value Measurement | Senior Notes 8.25 percent due December 2029
Debt Fair Value Disclosures
Senior Notes	500	500
Reported Value Measurement | Senior Notes 4.125 percent due January 2031
Debt Fair Value Disclosures
Senior Notes	275	275
Reported Value Measurement | Senior Notes 3.375 Percent due July 2031
Debt Fair Value Disclosures
Senior Notes	72	72
Reported Value Measurement | Senior Notes 8.50 percent due July 2031
Debt Fair Value Disclosures
Senior Notes	500	500
Reported Value Measurement | Senior Notes 9.625 Percent due December 2032
Debt Fair Value Disclosures
Senior Notes	750	750
Reported Value Measurement | Senior notes 5.75 percent due December 2034
Debt Fair Value Disclosures
Senior Notes	489	489
Reported Value Measurement | Term Loan A1
Debt Fair Value Disclosures
Senior Notes	0	430
Reported Value Measurement | Term Loan A2
Debt Fair Value Disclosures
Senior Notes	0	430
Reported Value Measurement | Term Loan A3
Debt Fair Value Disclosures
Senior Notes	0	430
Estimate of Fair Value Measurement
Debt Fair Value Disclosures
Long-term debt, gross	5,564	5,371
Debt issuance costs	0	0
Debt, net of debt issuance costs	5,564	5,371
Less: current portion of debt, net of debt issuance costs	0	(62)
Long-term debt, less current portion, net of debt issuance costs	5,564	5,309
Estimate of Fair Value Measurement | Senior Notes 4.75 Percent Due January 2025
Debt Fair Value Disclosures
Senior Notes	468	472
Estimate of Fair Value Measurement | Senior Notes 4.875 percent Due June 2027
Debt Fair Value Disclosures
Senior Notes	477	484
Estimate of Fair Value Measurement | Convertible Senior Note 3.50 percent due June 2028
Debt Fair Value Disclosures
Senior Notes	1,550	0
Estimate of Fair Value Measurement | Senior Notes 4.091 percent due June 2029
Debt Fair Value Disclosures
Senior Notes	426	436
Estimate of Fair Value Measurement | Senior Notes 3.125 percent due July 2029
Debt Fair Value Disclosures
Senior Notes	126	126
Estimate of Fair Value Measurement | Senior Notes 8.25 percent due December 2029
Debt Fair Value Disclosures
Senior Notes	514	522
Estimate of Fair Value Measurement | Senior Notes 4.125 percent due January 2031
Debt Fair Value Disclosures
Senior Notes	220	227
Estimate of Fair Value Measurement | Senior Notes 3.375 Percent due July 2031
Debt Fair Value Disclosures
Senior Notes	51	53
Estimate of Fair Value Measurement | Senior Notes 8.50 percent due July 2031
Debt Fair Value Disclosures
Senior Notes	513	524
Estimate of Fair Value Measurement | Senior Notes 9.625 Percent due December 2032
Debt Fair Value Disclosures
Senior Notes	808	830
Estimate of Fair Value Measurement | Senior notes 5.75 percent due December 2034
Debt Fair Value Disclosures
Senior Notes	411	438
Estimate of Fair Value Measurement | SOFR Based Term Loan A1 due September 2025
Debt Fair Value Disclosures
Senior Notes	0	426
Estimate of Fair Value Measurement | SOFR Based Term Loan A2 due July 2027
Debt Fair Value Disclosures
Senior Notes	0	420
Estimate of Fair Value Measurement | SOFR Based Term Loan A3 due July 2027
Debt Fair Value Disclosures
Senior Notes	$ 0	$ 413

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2022	Sep. 29, 2023	Jun. 30, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
Income (loss) from equity method investments	$ 3
Equity Method Investments		$ 55	$ 55
Net gains (losses) from investment under measurement alternative	$ 3
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		$ 89	$ 88

Equity (Narrative) (Details)

Equity (Narrative) (Details)	3 Months Ended
	Sep. 29, 2023 USD ($) $ / shares shares
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)	209,181,031
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 | $	$ 1,900,000,000

Equity (Schedule of Share Repur

Equity (Schedule of Share Repurchases) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Dollar Value [Abstract]
Tax withholding related to vesting of equity awards (in shares)	0
Repurchases of ordinary shares and tax withholding related to vesting of equity awards (in shares)	0
Repurchases of ordinary shares (1)		$ 400
Tax withholding related to vesting of equity awards	$ 25	$ 39
Repurchases of ordinary shares and tax withholding related to vesting of equity awards	$ 25

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 1,454	$ 2,035
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenue	811	801
Americas
Disaggregation of Revenue [Line Items]
Revenue	455	936
EMEA
Disaggregation of Revenue [Line Items]
Revenue	188	298
OEMs
Disaggregation of Revenue [Line Items]
Revenue	1,032	1,545
Distributors
Disaggregation of Revenue [Line Items]
Revenue	266	299
Retailers
Disaggregation of Revenue [Line Items]
Revenue	$ 156	$ 191

Guarantees Guarantees (Narrativ

Guarantees Guarantees (Narrative) (Details) $ in Millions	3 Months Ended
	Sep. 29, 2023 USD ($)
Schedule of Fiscal Years [Line Items]
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	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Guarantees [Abstract]
Balance, beginning of period	$ 168	$ 148
Warranties issued	13	13
Repairs and replacements	(18)	(24)
Changes in liability for pre-existing warranties, including expirations	13	12
Balance, end of period	$ 176	$ 149

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 Thousands, $ in Millions	3 Months Ended
	Sep. 29, 2023	Sep. 30, 2022
Numerator:
Net (loss) income	$ (184)	$ 29
Number of shares used in per share calculations:
Total shares for purposes of calculating basic net (loss) income per share	208,000	208,000
Weighted-average effect of dilutive securities:
Employee equity award plans	0	2,000
Total shares for purposes of calculating diluted net (loss) income per share	208,000	210,000
Net (loss) income per share:
Basic (in dollars per share)	$ (0.88)	$ 0.14
Diluted (in dollars per share)	$ (0.88)	$ 0.14
Antidilutive securities excluded from computation of Earnings Per Share, amount	6,000	0

Legal, Environmental and Othe_2

Legal, Environmental and Other Contingencies (Details) $ in Millions		3 Months Ended
	Apr. 18, 2023 USD ($) audit	Sep. 30, 2022 USD ($)	Sep. 29, 2023 USD ($)
Loss Contingencies [Line Items]
Settlement amount	$ 300
Settlement quarterly installments	$ 15
Settlement, length of payments	5 years
Settlement, number of audits | audit	3
Settlement, number of third-party audits | audit	1
Settlement, number of internal audits | audit	2
Settlement, suspended denial order period	5 years
Litigation settlement expense		$ 300
Accrued Liabilities
Loss Contingencies [Line Items]
Accrued settlement expenses			$ 60
Other Noncurrent Liabilities
Loss Contingencies [Line Items]
Accrued settlement expenses			$ 240

Commitments (Details)

Commitments (Details) $ in Millions	3 Months Ended
	Sep. 29, 2023 USD ($)
Long-Term Purchase Commitment [Line Items]
Unrecorded Unconditional Purchase Obligation	$ 2,600
2025	184
2026	223
2027	1,500
2028	739
Recorded Unconditional Purchase Obligation, Order Cancellation Fees	118
Order Cancellation Fees	151
Accrued Liabilities
Long-Term Purchase Commitment [Line Items]
Order Cancellation Fees	133
Accounts Payable
Long-Term Purchase Commitment [Line Items]
Order Cancellation Fees	$ 18

Subsequent event (Details)

Subsequent event (Details) - $ / shares		3 Months Ended
	Oct. 26, 2023	Sep. 29, 2023	Sep. 30, 2022
Subsequent Event [Line Items]
Cash dividends declared per ordinary share (in dollars per share)		$ 0.70	$ 0.70
Common Stock | Subsequent Event
Subsequent Event [Line Items]
Cash dividends declared per ordinary share (in dollars per share)	$ 0.70
Dividends payable date	Jan. 09, 2024
Dividends payable, date of record	Dec. 21, 2023