Lam Research (LRCX) 10-K 29 Aug 24 2024 FY Annual report Financial data

Cover Page

Cover Page - USD ($) shares in Thousands	12 Months Ended
	Jun. 30, 2024	Aug. 22, 2024	Dec. 24, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Jun. 30, 2024
Current Fiscal Year End Date	--06-30
Document Transition Report	false
Entity File Number	0-12933
Entity Registrant Name	LAM RESEARCH CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	94-2634797
Entity Address, Address Line One	4650 Cushing Parkway
Entity Address, City or Town	Fremont
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94538
City Area Code	510
Local Phone Number	572-0200
Title of 12(b) Security	Common Stock, Par Value $0.001 Per Share
Trading Symbol	LRCX
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 83,831,499,278
Entity Common Stock, Shares Outstanding		129,876
Documents Incorporated by Reference	Parts of the Registrant’s Proxy Statement for the Annual Meeting of Stockholders expected to be held on or about November 5, 2024, are incorporated by reference into Part III of this Form 10-K. Except as expressly incorporated by reference herein, the Registrant’s proxy statement shall not be deemed to be part of this report.
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Central Index Key	0000707549

Audit Information

Audit Information	12 Months Ended
	Jun. 30, 2024
Auditor Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	San Jose, California
Auditor Firm ID	42

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Income Statement [Abstract]
Revenue	$ 14,905,386	$ 17,428,516	$ 17,227,039
Cost of goods sold	7,809,220	9,573,425	9,355,232
Restructuring charges, net - cost of goods sold	43,375	78,166	0
Total cost of goods sold	7,852,595	9,651,591	9,355,232
Gross margin	7,052,791	7,776,925	7,871,807
Research and development	1,902,444	1,727,162	1,604,248
Selling, general, and administrative	868,247	832,753	885,737
Restructuring charges, net - operating expenses	18,187	42,150	0
Total operating expenses	2,788,878	2,602,065	2,489,985
Operating income	4,263,913	5,174,860	5,381,822
Other income (expense), net	96,309	(65,650)	(188,708)
Income before income taxes	4,360,222	5,109,210	5,193,114
Income tax expense	(532,450)	(598,279)	(587,828)
Net income	$ 3,827,772	$ 4,510,931	$ 4,605,286
Net income per share:
Basic (usd per share)	$ 29.13	$ 33.30	$ 32.92
Diluted (usd per share)	$ 29	$ 33.21	$ 32.75
Number of shares used in per share calculations:
Basic (in shares)	131,410	135,472	139,899
Diluted (in shares)	131,995	135,834	140,628

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 3,827,772	$ 4,510,931	$ 4,605,286
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(29,080)	6,858	(50,342)
Cash flow hedges:
Net unrealized gains during the period	20,370	10,413	30,849
Net gains reclassified into net income	(27,370)	(9,411)	(29,054)
Net change	(7,000)	1,002	1,795
Available-for-sale investments:
Net unrealized gains (losses) during the period	314	1,491	(4,638)
Net (gains) losses reclassified into net income	(10)	(158)	1,390
Net change	304	1,333	(3,248)
Defined benefit plans, net change in unrealized component	6,054	83	5,941
Other comprehensive (loss) income, net of tax	(29,722)	9,276	(45,854)
Comprehensive income	$ 3,798,050	$ 4,520,207	$ 4,559,432

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 25, 2023
ASSETS:
Cash and cash equivalents	$ 5,847,856	$ 5,337,056
Accounts receivable, less allowance of $5,277 as of June 30, 2024 and $5,344 as of June 25, 2023	2,519,250	2,823,376
Inventories	4,217,924	4,816,190
Prepaid expenses and other current assets	298,190	251,790
Total current assets	12,883,220	13,228,412
Property and equipment, net	2,154,518	1,856,672
Goodwill	1,626,528	1,622,489
Intangible assets, net	138,545	168,454
Other assets	1,941,917	1,905,616
Total assets	18,744,728	18,781,643
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Trade accounts payable	613,966	470,702
Accrued expenses and other current liabilities	1,801,877	2,010,637
Deferred profit	1,417,781	1,695,221
Current portion of long-term debt and finance lease obligations	504,814	8,358
Total current liabilities	4,338,438	4,184,918
Long-term debt and finance lease obligations, less current portion	4,478,520	5,003,183
Income taxes payable	813,304	882,084
Other long-term liabilities	575,012	501,286
Total liabilities	10,205,274	10,571,471
Commitments and contingencies
Stockholders’ equity:
Preferred stock, at par value of $0.001 per share; authorized - 5,000 shares, none outstanding	0	0
Common stock, at par value of $0.001 per share; authorized 400,000 shares as of June 30, 2024 and June 25, 2023; issued and outstanding 130,377 shares as of June 30, 2024, and 133,297 shares as of June 25, 2023	130	133
Additional paid-in capital	8,225,303	7,809,002
Treasury stock, at cost, 164,824 shares as of June 30, 2024, and 161,380 shares as of June 25, 2023	(24,366,866)	(21,530,353)
Accumulated other comprehensive loss	(130,428)	(100,706)
Retained earnings	24,811,315	22,032,096
Total stockholders’ equity	8,539,454	8,210,172
Total liabilities and stockholders’ equity	$ 18,744,728	$ 18,781,643

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 25, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 5,277	$ 5,344
Preferred stock, par value (usd per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	400,000,000	400,000,000
Common stock, shares issued (in shares)	130,377,000	133,297,000
Common stock, shares outstanding (in shares)	130,377,000	133,297,000
Treasury stock (in shares)	164,824,000	161,380,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		12 Months Ended
		Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net income		$ 3,827,772	$ 4,510,931	$ 4,605,286
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		359,699	342,432	333,739
Deferred income taxes		(198,981)	(172,061)	(257,438)
Equity-based compensation expense		293,058	286,600	259,064
Other, net		10,243	52,298	(44,751)
Changes in operating asset and liability accounts:
Accounts receivable, net of allowance		303,443	1,452,256	(1,287,680)
Inventories		528,723	(961,968)	(1,351,344)
Prepaid expenses and other assets		(15,535)	136,016	(53,121)
Trade accounts payable		125,939	(522,200)	167,884
Deferred profit		(277,440)	163,467	604,573
Accrued expenses and other liabilities		(304,652)	(108,833)	123,462
Net cash provided by operating activities		4,652,269	5,178,938	3,099,674
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures and intangible assets		(396,670)	(501,568)	(546,034)
Business acquisitions, net of cash acquired		0	(119,955)	0
Purchases of available-for-sale securities		0	0	(567,819)
Proceeds from maturities of available-for-sale securities		34,336	91,295	190,269
Proceeds from sales of available-for-sale securities		3,430	6,837	1,543,434
Other, net		(11,710)	(11,171)	(7,575)
Net cash (used for) provided by investing activities		(370,614)	(534,562)	612,275
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on long-term debt and finance lease obligations and payments for debt issuance costs		(256,104)	(23,206)	(11,889)
Treasury stock purchases		(2,842,807)	(2,017,012)	(3,865,663)
Dividends paid		(1,018,915)	(907,907)	(815,290)
Reissuances of treasury stock related to employee stock purchase plan		119,966	109,899	108,178
Proceeds from issuance of common stock		15,553	11,111	5,682
Other, net		(13,543)	(3,552)	45
Net cash used for financing activities		(3,995,850)	(2,830,667)	(4,578,937)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		(22,374)	128	(30,227)
Net change in cash, cash equivalents and restricted cash		263,431	1,813,837	(897,215)
Cash, cash equivalents and restricted cash at beginning of year	[1]	5,587,372	3,773,535	4,670,750
Cash, cash equivalents and restricted cash at end of year	[1]	5,850,803	5,587,372	3,773,535
Schedule of non-cash transactions
Accrued payables for stock repurchases, including applicable excise tax		51,471	45,486	46
Accrued payables for capital expenditures		60,826	31,899	80,296
Dividends payable		260,905	231,267	205,615
Transfers of finished goods inventory to property and equipment		71,267	76,856	75,068
Supplemental disclosures:
Cash payments for interest		173,094	174,745	175,528
Cash payments for income taxes, net		991,821	809,748	807,669
Reconciliation of cash, cash equivalents, and restricted cash
Cash and cash equivalents		5,847,856	5,337,056	3,522,001
Restricted cash and cash equivalents	[1]	2,947	250,316	251,534
Total cash, cash equivalents, and restricted cash	[1]	$ 5,850,803	$ 5,587,372	$ 3,773,535
[1]Restricted cash is reported within Other assets in the Consolidated Balance Sheets

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
Beginning balance (in shares) at Jun. 27, 2021		142,501
Beginning balance at Jun. 27, 2021	$ 6,027,188	$ 143	$ 7,052,962	$ (15,646,701)	$ (64,128)	$ 14,684,912
Increase (Decrease) in Stockholders' Equity
Issuance of common stock (in shares)		795
Issuance of common stock	5,682	$ 1	5,681
Purchase of treasury stock (in shares)		(6,574)
Purchase of treasury stock	(3,845,704)	$ (7)		(3,845,697)
Reissuance of treasury stock (in shares)		253
Reissuance of treasury stock	108,178		97,209	10,969
Equity-based compensation expense	259,064		259,064
Net income	4,605,286					4,605,286
Other comprehensive income (loss)	(45,854)				(45,854)
Cash dividends declared	(835,474)					(835,474)
Ending balance (in shares) at Jun. 26, 2022		136,975
Ending balance at Jun. 26, 2022	6,278,366	$ 137	7,414,916	(19,481,429)	(109,982)	18,454,724
Increase (Decrease) in Stockholders' Equity
Issuance of common stock (in shares)		615
Issuance of common stock	11,111	$ 1	11,110
Purchase of treasury stock (in shares)		(4,609)
Purchase of treasury stock	(2,062,452)	$ (5)		(2,062,447)
Reissuance of treasury stock (in shares)		316
Reissuance of treasury stock	109,899		96,376	13,523
Equity-based compensation expense	286,600		286,600
Net income	4,510,931					4,510,931
Other comprehensive income (loss)	9,276				9,276
Cash dividends declared	$ (933,559)					(933,559)
Ending balance (in shares) at Jun. 25, 2023	133,297	133,297
Ending balance at Jun. 25, 2023	$ 8,210,172	$ 133	7,809,002	(21,530,353)	(100,706)	22,032,096
Increase (Decrease) in Stockholders' Equity
Issuance of common stock (in shares)		524
Issuance of common stock	15,553	$ 1	15,552
Purchase of treasury stock (in shares)		(3,724)
Purchase of treasury stock	(2,848,792)	$ (4)		(2,848,788)
Reissuance of treasury stock (in shares)		280
Reissuance of treasury stock	119,966		107,691	12,275
Equity-based compensation expense	293,058		293,058
Net income	3,827,772					3,827,772
Other comprehensive income (loss)	(29,722)				(29,722)
Cash dividends declared	$ (1,048,553)					(1,048,553)
Ending balance (in shares) at Jun. 30, 2024	130,377	130,377
Ending balance at Jun. 30, 2024	$ 8,539,454	$ 130	$ 8,225,303	$ (24,366,866)	$ (130,428)	$ 24,811,315

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (usd per share)	$ 8	$ 6.90	$ 6

Company and Industry Informatio

Company and Industry Information	12 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company and Industry Information	Company and Industry Information The Company designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. Semiconductor manufacturing, our customers’ business, involves the complete fabrication of multiple dies or integrated circuits on a wafer. This involves the repetition of a set of core processes and can require hundreds of individual steps. Fabricating these devices requires highly sophisticated process technologies to integrate an increasing array of new materials with precise control at the atomic scale. Along with meeting technical requirements, wafer processing equipment must deliver high productivity and be cost-effective. The Company sells its products and services primarily to companies involved in the production of semiconductors in the United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. The semiconductor industry is cyclical in nature and has historically experienced periodic downturns and upturns. Today’s leading indicators of changes in customer investment patterns, such as electronics demand, memory pricing, and foundry utilization rates, may not be any more reliable than in prior years. Demand for the Company’s equipment can vary significantly from period to period as a result of various factors including, but not limited to, economic conditions; supply, demand, and prices for semiconductors; customer capacity requirements; and the Company’s ability to develop and market competitive products. For these and other reasons, the Company’s results of operations for fiscal years 2024, 2023, and 2022 may not necessarily be indicative of future operating results. Reclassification: Certain amounts for the fiscal years 2023 and 2022 Consolidated Balance Sheets and notes to the financial statements have been reclassified to conform to the fiscal year 2024 presentation.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The preparation of financial statements in conformity with GAAP requires management to make judgments, estimates, and assumptions that could affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. The Company bases its estimates and assumptions on historical experience and on various other assumptions it believes to be applicable and evaluates them on an ongoing basis to ensure they remain reasonable under current conditions. Actual results could differ significantly from those estimates. Revenue Recognition: The Company generally considers documentation of terms with an approved purchase order as a customer contract, provided that collection is considered probable, which is assessed based on the creditworthiness of the customer as determined by credit checks, payment histories, and/or other circumstances. The transaction price for contracts with customers is allocated among the identified performance obligations and consists of both fixed and variable consideration provided it is probable that a significant reversal of revenue will not occur when the uncertainty related to variable consideration is resolved. Fixed consideration includes amounts to be contractually billed to the customer while variable consideration includes estimates for discounts and credits for future usage which are based on contractual terms outlined in volume purchase agreements and other factors known at the time. The Company generally invoices customers at shipment and for professional services either as provided or upon meeting certain milestones. Customer invoices are generally due within 30 to 90 days after issuance. The Company’s contracts with customers typically do not include significant financing components as the period between the transfer of performance obligations and timing of payment are generally within one year. Revenue for systems and spares are recognized at a point in time, which is generally upon shipment or delivery. Revenue from services is recognized over time as services are completed or ratably over the contractual period of generally one year or less. Revenue is recognized in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. Inventory Valuation: Inventories are stated at the lower of cost or net realizable value using standard costs that approximate actual costs on a first-in, first-out basis. Management evaluates the need to record adjustments for impairment of inventory at least quarterly. The Company’s policy is to assess the valuation of all inventories including manufacturing raw materials, work-in-process, finished goods, and spare parts in each reporting period. Inventory in excess of management’s estimated usage requirement and obsolete inventory is written down to its estimated net realizable value if less than cost. Estimates of net realizable value include but are not limited to management’s forecasts related to customer demand, the Company’s future manufacturing schedules, technological and/or market obsolescence, general semiconductor market conditions, and possible alternative uses. If future customer demand or market conditions are less favorable than the Company’s projections, additional inventory write-downs may be required and would be reflected in cost of goods sold in the period in which the revision is made. Warranty: Typically, the sale of semiconductor capital equipment includes providing parts and service warranties to customers as part of the overall price of the system. The Company provides standard warranties for its systems. The Company records a provision for estimated warranty expenses to cost of sales for each system when it recognizes revenue. The Company does not maintain general or unspecified reserves; all warranty reserves are related to specific systems. All actual or estimated parts and labor costs incurred in subsequent periods are charged to those established reserves on a system-by-system basis. While the Company periodically monitors the performance and cost of warranty activities, if actual costs incurred are different than its estimates, the Company may recognize adjustments to provisions in the period in which those differences arise or are identified. Equity-based Compensation — Employee Stock Plans: The Company recognizes the fair value of equity-based compensation expense. The Company determines the fair value of its RSUs, excluding market-based performance RSUs, based upon the fair market value of Company’s Common Stock at the date of grant, discounted for dividends. The Company estimates the fair value of its market-based performance RSUs using a Monte Carlo simulation model at the date of the grant. The Company estimates the fair value of its stock options using a Black-Scholes option valuation model. This model requires the input of subjective assumptions, including expected stock price volatility and the estimated life of each award. The Company amortizes the fair value of equity-based awards over the vesting periods of the award, and the Company has elected to use the straight-line method of amortization. Income Taxes: Deferred income taxes reflect the net tax effect of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as the tax effect of carryforwards. The Company records a valuation allowance to reduce its deferred tax assets to the amount that is more likely than not to be realized. Realization of its net deferred tax assets is dependent on future taxable income. The Company believes it is more likely than not that such assets will be realized; however, ultimate realization could be negatively impacted by market conditions and other variables not known or anticipated at this time. In the event that the Company determines that it will not be able to realize all or part of its net deferred tax assets, an adjustment will be charged to earnings in the period such determination is made. Likewise, if the Company later determines that it is more likely than not that the deferred tax assets will be realized, then the previously provided valuation allowance will be reversed. The Company recognizes the benefit from a tax position only if it is more likely than not that the position will be sustained upon audit based solely on the technical merits of the tax position. The Company’s policy is to include interest and penalties related to uncertain tax positions as a component of income tax expense. Goodwill and Intangible Assets : The valuation of intangible assets acquired in a business combination requires the use of management estimates including but not limited to estimating future expected cash flows from assets acquired and determining discount rates. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable, and as a result, actual results may differ from estimates. Estimates associated with the accounting for acquisitions may change as additional information becomes available. The Company amortizes intangible assets with estimable useful lives over their respective estimated useful lives. Goodwill represents the amount by which the purchase price in each business combination exceeds the fair value of the net tangible and identifiable intangible assets acquired. Each component of the Company for which discrete financial information is available and for which management regularly reviews the results of operations is considered a reporting unit. All goodwill acquired in a business combination is assigned to one or more reporting units as of the acquisition date. Goodwill is assigned to the Company’s reporting units that are expected to benefit from the synergies of the combination. The goodwill assigned to a reporting unit is the difference between the acquisition consideration assigned to the reporting unit on a relative fair value basis and the fair value of acquired assets and liabilities that can be specifically attributed to the reporting unit. The Company reviews goodwill at least annually for impairment during the fourth quarter of each fiscal year and if certain events or indicators of impairment occur between annual impairment tests. When reviewing goodwill for impairment, the Company first performs a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. In performing a qualitative assessment, it considers business conditions and other factors including, but not limited to (i) adverse industry or economic trends, (ii) restructuring actions and lower projections that may impact future operating results, (iii) sustained decline in share price, and (iv) overall financial performance and other events affecting the reporting units. If the Company concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, then a quantitative impairment test is performed by estimating the fair value of the reporting unit and comparing it to its carrying value, including goodwill allocated to that reporting unit. The Company did not record impairments of goodwill during the years ended June 30, 2024, June 25, 2023, or June 26, 2022. Impairment of Long-lived Assets (Excluding Goodwill): The Company reviews intangible assets whenever events or circumstances indicate that the carrying value of an asset or asset group may not be recoverable. If such indicators are present, the Company determines whether the sum of the estimated undiscounted cash flows attributable to the assets is less than their carrying value. If the sum is less, the Company recognizes an impairment loss based on the excess of the carrying amount of the assets over their respective fair values. Fair value is determined by discounted future cash flows, appraisals, or other methods. The Company recognizes an impairment charge to the extent the fair value attributable to the asset are less than the asset’s carrying value. The fair value of the asset then becomes the asset’s new carrying value, which the Company depreciates over the remaining estimated useful life of the asset. Assets to be disposed of are reported at the lower of the carrying amount or fair value. For the periods presented, impairment of long-lived assets were not material. In addition, for fully amortized intangible assets, we derecognize the gross cost and accumulated amortization in the period we determine the intangible asset no longer enhances future cash flows. Fiscal Year: The Company follows a 52/53-week fiscal reporting calendar, and its fiscal year ends on the last Sunday of June each year. The Company’s most recent fiscal year ended on June 30, 2024 and included 53 weeks, and the fiscal years ended June 25, 2023 and June 26, 2022 each included 52 weeks. Principles of Consolidation: The Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Cash Equivalents and Investments: Investments purchased with an original maturity of three months or less are considered cash equivalents. The Company also invests in certain mutual funds, which include equity and fixed-income securities, related to its obligations under its deferred compensation plan, and such investments are classified as trading securities on the consolidated balance sheets. All of the Company’s other investments are classified as available-for-sale at the respective balance sheet dates. The Company accounts for its investment portfolio at fair value. Investments classified as trading securities are recorded at fair value based upon quoted market prices. Differences between the cost and fair value of trading securities are recognized as Other income (expense), net in the Consolidated Statement of Operations. The investments classified as available-for-sale are recorded at fair value based upon quoted market prices, and difference between the cost and fair value of available-for-sale securities is presented as a component of accumulated other comprehensive income (loss). The Company evaluates its investments with fair value less than amortized cost by first considering whether the Company has the intent to sell the security or whether it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis. In either such situation, the difference between fair value and amortized cost is recognized as a loss in the Consolidated Statement of Operations. Where such sales are not likely to occur, the Company considers whether a portion of the loss is the result of a credit loss. To the extent such losses are the result of credit losses, those amounts are recognized in the Consolidated Statement of Operations. All other differences between fair value and amortized cost are recognized in other comprehensive income. No such losses were recognized through the Consolidated Statement of Operations during the years ended June 30, 2024, June 25, 2023 and June 26, 2022. Allowance for Expected Credit Losses: The Company maintains an allowance for expected losses resulting from the inability of its customers to make required payments. The Company evaluates its allowance for expected credit losses based on a combination of factors. In circumstances where specific invoices are deemed uncollectible, the Company provides a specific allowance against the amount due to reduce the net recognized receivable to the amount it reasonably believes will be collected. The Company also provides allowances based on its write-off history. Bad debt expense was not material for fiscal years ended June 30, 2024, June 25, 2023, and June 26, 2022. Property and Equipment: Property and equipment is stated at cost, less recognized impairments, if any. Equipment is depreciated by the straight-line method over the estimated useful lives of the assets, generally three three Derivative Financial Instruments: In the normal course of business, the Company’s financial position is routinely subjected to market risk associated with interest rate and foreign currency exchange rate fluctuations. The Company’s policy is to mitigate the effect of interest rate fluctuations on certain proposed debt instruments and exchange rate fluctuations on certain foreign currency denominated business exposures. The Company has a policy that allows the use of derivative financial instruments to hedge foreign currency exchange rate fluctuations on forecasted revenue and expenses and net monetary assets or liabilities denominated in various foreign currencies. The Company carries derivative financial instruments (derivatives) on the balance sheet at their fair values. The Company does not use derivatives for trading or speculative purposes. The Company does not believe that it is exposed to more than a nominal amount of credit risk in its interest rate and foreign currency hedges, as counterparties are large, global and well-capitalized financial institutions. The Company maintains an active currency hedging program and believes there is minimal risk that appropriate derivatives to maintain the Company’s hedging program would not be available in the future. To hedge foreign currency risks, the Company uses foreign currency exchange forward and option contracts, where possible and prudent. These hedge contracts are valued using standard valuation formulas with assumptions about future foreign currency exchange rates derived from existing exchange rates, interest rates, and other market factors. The Company considers its most current forecast in determining the level of foreign currency denominated revenue and expenses to hedge as cash flow hedges. The Company combines these forecasts with historical trends to establish the portion of its expected volume to be hedged. The revenue and expenses are hedged and designated as cash flow hedges to protect the Company from exposures to fluctuations in foreign currency exchange rates. If the underlying forecasted transaction does not occur, or it becomes probable that it will not occur, the related hedge gains and losses on the cash flow hedge are reclassified from Accumulated other comprehensive income (loss) to Other income (expense), net on the Consolidated Statement of Operations at that time. Leases: Lease expense for operating leases is recognized on a straight-line basis over the lease term. The Company includes renewals and terminations in the calculation of the right-of-use asset and liability when the provision is reasonably certain to be exercised. The Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of future lease payments when the rate implicit in the lease is unknown. The Company has elected the following practical expedients and accounting policy elections for accounting under ASC 842: (i) leases with an initial lease term of 12 months or less are not recorded on the balance sheet; and (ii) lease and non-lease components of a contract are accounted for as a single lease component. Guarantees: The Company’s guarantees generally include certain indemnifications to its lessors for environmental matters, potential overdraft protection obligations to financial institutions related to one of the Company’s subsidiaries, indemnifications to the Company’s customers for certain infringement of third-party intellectual property rights by its products and services, indemnifications for its officers and directors, and the Company’s warranty obligations under sales of its products. Government Assistance: For government grants, the Company recognizes a benefit in the Consolidated Statement of Operations, as a reduction to the expense for which the individual government grant (“Grant” or “Grants”) is designed to compensate, over the duration of the program when the Company has reasonable assurance that it will comply with the conditions under the Grant and that the Grant will be received. Grants related to investments in property and equipment are recognized as a reduction to the cost basis of the underlying assets with an ongoing reduction to depreciation expense over the assets’ estimated useful life. Operating-related grants are recorded as a reduction to expense in the same line item on the Consolidated Statements of Operation as the expenditure for which the incentive is intended to compensate. Foreign Currency Translation: The Company’s non-U.S. subsidiaries that operate in a local currency environment, where that local currency is the functional currency, primarily generate and expend cash in their local currency. Accordingly, all balance sheet accounts of these local functional currency subsidiaries are translated into U.S. dollars at the fiscal period-end exchange rate, and income and expense accounts are translated into U.S. dollars using average rates in effect for the period, except for costs related to those balance sheet items that are translated using historical exchange rates. The resulting translation adjustments are recorded as cumulative translation adjustments and are a component of Accumulated other comprehensive income (loss). Remeasurement adjustments are recorded in Other income (expense), net, where the U.S. dollar is the functional currency.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	12 Months Ended
	Jun. 30, 2024
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted or Effective The Company did not adopt any new accounting standards during fiscal year 2024 that had a material impact on the Company’s Consolidated Financial Statements. Updates Not Yet Effective In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which expands disclosures about a public entity’s reportable segments and requires more enhanced information about a reportable segment’s expenses, interim segment profit or loss, and how a public entity’s chief operating decision maker uses reported segment profit or loss information in assessing segment performance and allocating resources. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is required to adopt this standard in the fiscal year 2025 for the annual reporting period ending June 29, 2025, with retrospective disclosure of prior periods presented. The Company is currently in the process of evaluating the impact of adoption on its Consolidated Financial Statements.

Revenue

Revenue	12 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of Revenue The following table presents the Company’s revenue disaggregated between systems and customer-support related revenue: Year Ended June 30, June 25, June 26, (in thousands) Systems Revenue $ 8,921,643 $ 10,695,897 $ 11,322,271 Customer support-related revenue and other 5,983,743 6,732,619 5,904,768 $ 14,905,386 $ 17,428,516 $ 17,227,039 Systems revenue includes sales of new leading-edge equipment in deposition, etch and clean markets. Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from the Company’s Reliant product line. The Company operates in one reportable business segment: manufacturing and servicing of wafer processing semiconductor manufacturing equipment. Refer to Note 19: Segment, Geographic Information, and Major Customers ; for additional information regarding the Company’s evaluation of reportable business segments and the disaggregation of revenue by the geographic regions in which the Company operates. Additionally, the Company serves three primary markets: memory, foundry, and logic/integrated device manufacturing. The following table presents the percentages of leading- and non-leading-edge equipment and upgrade revenue to each of the primary markets the Company serves: Year Ended June 30, June 25, June 26, Memory 42 % 42 % 60 % Foundry 40 % 38 % 26 % Logic/integrated device manufacturing 18 % 20 % 14 % Deferred Revenue Revenue of $1,506.6 million included in deferred profit at June 25, 2023 was recognized during fiscal year 2024, representing 82% of the $1,837.9 million of deferred revenue as of June 25, 2023. The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of June 30, 2024 and when the Company expects to recognize the amounts as revenue: Less than 1 Year 1-3 Years More than 3 Years Total (in thousands) Deferred revenue $ 1,152,155 $ 353,617 (1) $ 45,824 (1) $ 1,551,596 (1) This amount is reported in Deferred profit on the Company's Consolidated Balance Sheets as the customers can demand the performance to be satisfied at any time.

Equity-based Compensation Plan

Equity-based Compensation Plan	12 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Equity-based Compensation Plan	Equity-based Compensation Plan The Company has stock plans that provide for grants of non-qualified equity-based awards of the Company’s Common Stock to eligible employees and non-employee directors, including stock options, restricted stock units (“RSUs”), and market-based performance RSUs (“market-based PRSUs”). An option is a right to purchase Common Stock at a set price. An RSU award is an agreement to issue a set number of shares of Common Stock at the time of vesting. The Company also has an employee stock purchase plan that allows eligible employees to purchase its Common Stock at a discount through payroll deductions. The Lam Research Corporation 2015 Stock Incentive Plan (the “Plan”) was approved by the stockholders and provides for the grant of non-qualified equity-based awards to eligible employees, consultants, advisors, and non-employee directors of the Company and its subsidiaries. As of the date of stockholder approval 19,232,068 authorized shares were available for issuance under the Plan; as of June 30, 2024, 6,891,996 shares remain available for future issuance to satisfy stock option exercises and vesting of awards. The Company recognized the following equity-based compensation expense (including expense related to the employee stock purchase plan) and related income tax benefit in the Consolidated Statements of Operations: Year Ended June 30, June 25, June 26, (in thousands) Equity-based compensation expense $ 293,058 $ 286,600 $ 259,064 Income tax benefit recognized related to equity-based compensation $ 38,157 $ 25,794 $ 37,466 Income tax benefit realized from the exercise and vesting of options and RSUs $ 75,441 $ 46,495 $ 72,564 The estimated fair value of the Company’s equity-based awards, less expected forfeitures, is amortized over the awards’ vesting terms on a straight-line basis. Restricted Stock Units During the fiscal years 2024, 2023, and 2022, the Company issued both service-based RSUs and market-based PRSUs. Service-based RSUs typically vest annually over a period of 3 years or less. Market-based PRSUs generally vest three years from the grant date if certain performance criteria are achieved and require continued employment. Based upon the terms of such awards, the number of shares that can be earned over the performance periods is based on the Company’s Common Stock price performance compared to the market price performance of a designated benchmark index, ranging from 0% to 150% of target. The designated benchmark index was the Philadelphia Semiconductor Total Return Index (“XSOX”). The stock price performance or market price performance is measured using the average closing price for the 50-trading days prior to the dates the performance period begins and ends. The target number of shares represented by the market-based PRSUs is increased by 2% of target for each 1% that Common Stock price performance exceeds the market price performance of the designated benchmark index. Market-based PRSUs utilize the XSOX, which index gives effect to the reinvestment of dividends paid on its constituent holdings, as the benchmark; and accordingly, the Company's Common Stock price performance was adjusted for the reinvestment of dividends on Common Stock on the ex-dividend date. The result of the vesting formula is rounded down to the nearest whole number. Total stockholder return is a measure of stock price appreciation in this performance period. The following table summarizes the Company’s combined service-based RSUs and market-based PRSUs: Number of Weighted-Average Outstanding, June 25, 2023 1,078 $ 498.79 Granted 365 941.04 Vested (462) 525.14 Forfeited or canceled (58) 526.10 Outstanding, June 30, 2024 923 $ 655.89 Of the 923 thousand shares outstanding at June 30, 2024, 749 thousand are service-based RSUs and 174 thousand are market-based PRSUs. The fair value of the Company’s service-based RSUs was calculated based on the fair market value of the Company’s stock at the date of grant, discounted for dividends. The fair value of the Company’s market-based PRSUs granted during fiscal years 2024, 2023, and 2022 was calculated using a Monte Carlo simulation model at the date of the grant, resulting in a weighted average grant-date fair value per share of $1,027.74, $466.19, and $488.68, respectively. The total fair value of service-based RSUs and market-based RSUs that vested during fiscal years 2024, 2023, and 2022 was $242.8 million, $224.4 million, and $195.1 million, respectively. As of June 30, 2024, the Company had $480.5 million of total unrecognized compensation expense which is expected to be recognized over a weighted-average remaining period of approximately 2.2 years. Stock Options The Company granted stock options with a 7-year maximum contractual term to a limited group of executive officers during fiscal years 2024, 2023, and 2022. Stock options typically vest over a period of three years or less. The Company had 139 thousand options outstanding at June 30, 2024 with a weighted-average exercise price of $541.10 per share, of which 75 thousand were exercisable with a weighted-average exercise price of $382.13 per share. As of June 30, 2024, the Company had $16.3 million of total unrecognized compensation expense related to unvested stock options granted and outstanding which is expected to be recognized over a weighted-average remaining period of 2.3 years. ESPP The Company has an employee stock purchase plan (the “ESPP”) which allows employees to designate a portion of their base compensation to be deducted and used to purchase the Company’s Common Stock at a purchase price per share of the lower of 85% of the fair market value of the Company’s Common Stock on the first or last day of the applicable purchase period. Typically, each offering period lasts 12 months and contains one interim purchase date.

Other Income (Expense), Net

Other Income (Expense), Net	12 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Other Income (Expense), Net	Other Income (Expense), Net The significant components of Other income (expense), net, were as follows: Year Ended June 30, June 25, June 26, (in thousands) Interest income $ 251,938 $ 138,984 $ 15,209 Interest expense (185,236) (186,462) (184,759) Gains (losses) on deferred compensation plan related assets, net 58,767 20,186 (38,053) Foreign exchange losses, net (4,837) (7,078) (723) Other, net (24,323) (31,280) 19,618 $ 96,309 $ (65,650) $ (188,708) Interest income in the year ended June 30, 2024, increased compared to the years ended June 25, 2023 and June 26, 2022, primarily as a result of higher yields and higher cash balances. Interest expense in the year ended June 30, 2024, was flat compared to the years ended June 25, 2023 and June 26, 2022. The gains or losses on deferred compensation plan related assets, net in fiscal years 2024, 2023 and 2022 were driven by fluctuations in the fair market value of the underlying funds.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of income before income taxes were as follows: Year Ended June 30, June 25, June 26, (in thousands) United States $ 282,736 $ 151,759 $ 87,933 Foreign 4,077,486 4,957,451 5,105,181 $ 4,360,222 $ 5,109,210 $ 5,193,114 Significant components of the provision (benefit) for income taxes attributable to income before income taxes were as follows: Year Ended June 30, June 25, June 26, (in thousands) Federal: Current $ 566,106 $ 541,416 $ 620,344 Deferred (186,238) (136,178) (226,895) 379,868 405,238 393,449 State: Current 20,081 32,082 20,759 Deferred (15,118) (2,813) (19,096) 4,963 29,269 1,663 Foreign: Current 143,595 196,842 204,163 Deferred 4,024 (33,070) (11,447) 147,619 163,772 192,716 Total provision for income taxes $ 532,450 $ 598,279 $ 587,828 Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as the tax effect of carryforwards. Significant components of the Company’s net deferred tax assets and liabilities were as follows: June 30, June 25, (in thousands) Deferred tax assets: Tax carryforwards $ 396,036 $ 359,505 Allowances and reserves 189,429 192,374 Equity-based compensation 9,981 9,600 Inventory valuation differences 64,135 57,675 Outside basis differences of foreign subsidiaries 680,598 527,139 R&D capitalization 75,196 36,618 Operating lease liabilities 57,972 50,867 Finance lease assets — 32,905 Intangible assets 4,908 4,108 Other 37,878 31,773 Gross deferred tax assets 1,516,133 1,302,564 Valuation allowance (389,315) (352,377) Net deferred tax assets 1,126,818 950,187 Deferred tax liabilities: Capital assets (142,963) (121,948) Amortization of goodwill (11,287) (12,515) Right-of-use assets (57,337) (50,867) Finance lease liabilities — (50,534) Other (6,596) (1,974) Gross deferred tax liabilities (218,183) (237,838) Net deferred tax assets $ 908,635 $ 712,349 The change in gross deferred tax assets, gross deferred tax liabilities, and valuation allowance between fiscal year 2024 and 2023 is primarily due to increases in gross deferred tax assets for outside basis differences of foreign subsidiaries, tax credits, and capitalized research and experimental expenditures. The Company has an accounting policy election to record deferred taxes related to Global Intangible Low-Taxed Income (“GILTI”). Realization of the Company’s net deferred tax assets is based upon the weighting of available evidence, including such factors as the recent earnings history and expected future taxable income. The Company believes it is more likely than not that such deferred tax assets will be realized with the exception of $389.3 million primarily related to California deferred tax assets. At June 30, 2024, the Company continued to record a valuation allowance to offset the entire California deferred tax asset balance due to the single sales factor apportionment resulting in lower taxable income in California. At June 30, 2024, the Company had federal net operating loss carryforwards of $7.5 million. If not utilized, these losses will begin to expire in fiscal year 2026, and are subject to limitation on their utilization. At June 30, 2024, the Company had state net operating loss carryforwards of $119.1 million. If not utilized, these losses will begin to expire in fiscal year 2025, and are subject to limitation on their utilization. At June 30, 2024, the Company had foreign net operating loss carryforwards of $23.2 million. All of these losses can be carried forward indefinitely, and are subject to limitation on their utilization. At June 30, 2024, the Company had state tax credit carryforwards of $587.5 million. Substantially all of these credits can be carried forward indefinitely. A reconciliation of income tax expense provided at the federal statutory rate (21% in fiscal years 2024, 2023, and 2022) to actual income tax expense is as follows: Year Ended June 30, June 25, June 26, (in thousands) Income tax expense computed at federal statutory rate $ 915,647 $ 1,072,934 $ 1,096,692 State income taxes, net of federal tax benefit (37,965) (23,252) (35,584) Foreign income taxed at different rates (313,795) (430,314) (407,989) Settlements and reductions in uncertain tax positions (18,947) (28,968) (51,227) Tax credits (125,523) (103,019) (96,440) State valuation allowance, net of federal tax benefit 44,916 49,073 43,502 Equity-based compensation (11,296) 15,816 (13,168) Increases in uncertain tax positions 62,333 34,661 35,148 Other permanent differences and miscellaneous items 17,080 11,348 16,894 $ 532,450 $ 598,279 $ 587,828 Effective from fiscal year 2022, the Company has a 15-year tax incentive ruling in Malaysia for one of its foreign subsidiaries. The impact of the tax incentive decreased worldwide taxes by approximately $416.3 million, $576.0 million, and $574.7 million for fiscal years 2024, 2023, and 2022, respectively. The benefit of the tax incentive on diluted earnings per share was approximately $3.15, $4.24, and $4.09 in fiscal years 2024, 2023, and 2022, respectively. Earnings of the Company’s foreign subsidiaries included in consolidated retained earnings that are indefinitely reinvested in foreign operations aggregated to approximately $1.1 billion at June 30, 2024. If these earnings were remitted to the United States, they would be subject to foreign withholding taxes of approximately $130.8 million at the current statutory rates. The potential tax expense associated with these foreign withholding taxes would be offset by $104.7 million of foreign tax credits that would be generated in the United States upon remittance. On August 16, 2022, the IRA was signed into law. In general, the provisions of the IRA are effective beginning with the Company’s fiscal year 2024, with certain exceptions. The IRA includes a new 15% corporate alternative minimum tax. The Company has evaluated the impacts of the IRA, including guidance issued by the Treasury Department, and does not expect it to have a material impact on the effective tax rate. The Company’s gross uncertain tax positions were $723.8 million, $640.2 million, and $617.4 million as of June 30, 2024, June 25, 2023, and June 26, 2022, respectively. During fiscal year 2024, gross uncertain tax positions increased by $83.6 million. The amount of uncertain tax positions that, if recognized, would impact the effective tax rate was $622.6 million, $550.1 million, and $539.6 million, as of June 30, 2024, June 25, 2023, and June 26, 2022, respectively. The aggregate changes in the balance of gross uncertain tax positions were as follows: (in thousands) Balance as of June 27, 2021 $ 566,771 Settlements and effective settlements with tax authorities (14,440) Lapse of statute of limitations (8,021) Increases in balances related to tax positions taken during prior periods 6,468 Decreases in balances related to tax positions taken during prior periods (28,376) Increases in balances related to tax positions taken during current period 94,971 Balance as of June 26, 2022 617,373 Settlements and effective settlements with tax authorities (50,238) Lapse of statute of limitations (22,103) Increases in balances related to tax positions taken during prior periods 5,841 Decreases in balances related to tax positions taken during prior periods (4,316) Increases in balances related to tax positions taken during current period 93,615 Balance as of June 25, 2023 640,172 Settlements and effective settlements with tax authorities (9,548) Lapse of statute of limitations (10,114) Decreases in balances related to tax positions taken during prior periods (12,326) Increases in balances related to tax positions taken during current period 115,600 Balance as of June 30, 2024 $ 723,784 The Company recognizes interest expense and penalties related to the above uncertain tax positions within income tax expense. The Company had accrued $105.7 million, $74.4 million, and $61.2 million cumulatively for gross interest and penalties as of June 30, 2024, June 25, 2023, and June 26, 2022, respectively. The Company is subject to audits by state and foreign tax authorities. The Company is unable to make a reasonable estimate as to when cash settlements, if any, with the relevant taxing authorities will occur. The Company files U.S. federal, U.S. state, and foreign income tax returns. As of June 30, 2024, tax years 2006-2024 remain subject to examination in the jurisdictions where the Company operates. The IRS is examining the Company’s U.S. federal income tax returns for the fiscal years ended June 30, 2019, June 28, 2020, and June 27, 2021. To date, no significant adjustments have been proposed by the IRS. The Company is unable to make a reasonable estimate as to when cash settlements, if any, with the IRS will occur. The Company is in various stages of examinations in connection with all of its tax audits worldwide, and it is difficult to determine when these examinations will be settled. It is reasonably possible that over the next 12-month period the Company may experience an increase or decrease in its uncertain tax positions as a result of tax examinations or lapses of statutes of limitation. The change in uncertain tax positions as a result of lapses of statutes of limitation may range up to $212.2 million.

Net Income per Share

Net Income per Share	12 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Net Income per Share	Net Income per Share Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed using the treasury stock method, for dilutive stock options, and restricted stock units. The following table reconciles the inputs to the basic and diluted computations for net income per share. Year Ended June 30, June 25, June 26, (in thousands, except per share data) Numerator: Net income $ 3,827,772 $ 4,510,931 $ 4,605,286 Denominator: Basic average shares outstanding 131,410 135,472 139,899 Effect of potential dilutive securities: Employee stock plans 585 362 729 Diluted average shares outstanding 131,995 135,834 140,628 Net income per share - basic $ 29.13 $ 33.30 $ 32.92 Net income per share - diluted $ 29.00 $ 33.21 $ 32.75 For purposes of computing diluted net income per share, weighted-average common shares do not include potentially dilutive securities that are anti-dilutive under the treasury stock method. These anti-dilutive securities, including options, service-based RSUs, and market-based PRSUs, were not material for fiscal years ended June 30, 2024, June 25, 2023, and June 26, 2022.

Financial Instruments

Financial Instruments	12 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Financial Instruments	Financial Instruments Fair Value The Company defines fair value 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 or permitted 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. A fair value hierarchy has been established that prioritizes the inputs to valuation techniques used to measure fair value. The level of an asset or liability in the hierarchy is based on the lowest level of input that is significant to the fair value measurement. Assets and liabilities carried at fair value are classified and disclosed in one of the following three categories: Level 1: Valuations based on quoted prices in active markets for identical assets or liabilities with sufficient volume and frequency of transactions. Level 2: Valuations based on observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active for identical assets or liabilities, or model-derived valuations techniques for which all significant inputs are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3: Valuations based on unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities and based on non-binding, broker-provided price quotes and may not have been corroborated by observable market data. The Company engages with pricing vendors to provide fair values for a majority of its Level 1 and Level 2 investments. The vendors provide either a quoted market price or use observable inputs without applying significant adjustments in their pricing. Significant observable inputs include interest rates and yield curves observable at commonly quoted intervals, volatility and credit risks. The fair value of derivative contracts is determined using observable market inputs such as the foreign currency rates, forward rate curves, currency volatility and interest rates and considers nonperformance risk of the Company and its counterparties. The Company’s primary financial instruments include its cash, cash equivalents, long-term investments, accounts receivable, accounts payable, long-term debt and leases, and foreign currency related derivative instruments. The estimated fair value of cash, time deposits, accounts receivable, and accounts payable approximates their carrying value due to the short period of time to their maturities. The estimated fair values of lease obligations approximate their carrying value as the majority of these obligations are generally short-term in nature and have interest rates that reset upon renewal or modification. Refer to Note 14: Long Term Debt and Other Borrowings for additional information regarding the fair value of the Company’s senior notes. The Company accounts for its investment portfolio at fair value. Realized gains (losses) for investment sales are specifically identified. Management assesses the fair value of investments in debt securities that are not actively traded through consideration of interest rates and their impact on the present value of the cash flows to be received from the investments. The Company evaluates its investments with fair value less than amortized cost by first considering whether the Company has the intent to sell the security or whether it is more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis. In either such situation, the difference between fair value and amortized cost is recognized as a loss in the Consolidated Statement of Operations. Where such sales are not likely to occur, the Company considers whether a portion of the loss is the result of a credit loss. To the extent such losses are the result of credit losses, those amounts are recognized in the Consolidated Statement of Operations. All other differences between fair value and amortized cost are recognized in other comprehensive income. No such losses were recognized through the Consolidated Statement of Operations during the twelve months ended June 30, 2024, June 25, 2023, and June 26, 2022. Investments Investments are recorded within Prepaid expenses and other current assets in the Company’s Consolidated Balance Sheets. As of June 30, 2024 and June 25, 2023, the fair value; and associated unrealized loss positions, if any, of mutual funds and debt and equity investments were not material. Gross realized gains/(losses) from sales of investments were insignificant in the fiscal years 2024, 2023, and 2022. The financial instruments reported within Cash and cash equivalents in the Company’s Consolidated Balance Sheets as of June 30, 2024, and June 25, 2023 consisted of the following: June 30, June 25, (in thousands) Money market funds (fair value measured on a recurring basis, level 1) $ 2,543,462 $ 2,223,642 Cash 1,568,315 2,132,522 Time deposits 1,736,079 980,892 Total $ 5,847,856 $ 5,337,056 In addition, as of June 25, 2023 the Company had restricted cash in the form of time deposits of $250.0 million reported within Other assets in the Consolidated Balance Sheets that was subsequently released in the three months ended September 24, 2023. Refer to Note 15: Leas e s for more information. Derivative Instruments and Hedging The Company carries derivative financial instruments (“derivatives”) on its Consolidated Balance Sheets at their fair values. The Company enters into foreign currency forward contracts and foreign currency options with financial institutions with the primary objective of reducing volatility of earnings and cash flows related to foreign currency exchange rate fluctuations. In addition, the Company enters into interest rate swap arrangements to manage interest rate risk. The counterparties to these derivatives are large, global financial institutions that the Company believes are creditworthy, and therefore, it does not consider the risk of counterparty nonperformance to be material. Under the master netting agreements with the respective counterparties to the Company’s derivative contracts, subject to applicable requirements, the Company is allowed to net settle transactions of the same currency with a single net amount payable by one party to the other. However, the Company has elected to present the derivative assets and derivative liabilities on a gross basis on its balance sheet. As of June 30, 2024 and June 25, 2023, the potential effect of rights of offset associated with the above foreign exchange and interest rate contracts would be immaterial to the Consolidated Balance Sheets. Cash Flow Hedges The Company’s financial position is routinely subjected to market risk associated with foreign currency exchange rate fluctuations on non-U.S. dollar transactions or cash flows. The Company’s policy is to mitigate the foreign exchange risk arising from the fluctuations in the value of these non-U.S. dollar denominated transactions or cash flows through a foreign currency cash flow hedging program, using forward contracts and foreign currency options that generally expire within 12 months and no later than 24 months. These hedge contracts are designated as cash flow hedges and are carried on the Company’s balance sheet at fair value with the effective portion of the contracts’ gains or losses included in accumulated other comprehensive income (loss) and subsequently recognized in revenue/expense in the same period the hedged items affect earnings. In addition, the Company has entered into interest rate swap agreements to hedge against the variability of cash flows due to changes in certain benchmark interest rates on fixed rate debt. These instruments are designated as cash flow hedges at inception and are settled in conjunction with the issuance of debt. The effective portion of the contracts’ gains or losses is included in accumulated other comprehensive income (loss) and is amortized into income as the hedged item affects earnings. At inception and at each quarter-end, hedges are tested prospectively and retrospectively for effectiveness using regression analysis. Changes in the fair value of foreign exchange contracts due to changes in time value are included in the assessment of effectiveness. To qualify for hedge accounting, the hedge relationship must meet criteria relating to both the derivative instrument and the hedged item. These criteria include identification of the hedging instrument, the hedged item, the nature of the risk being hedged, and how the hedging instrument’s effectiveness in offsetting the exposure to changes in the hedged item’s fair value or cash flows will be measured. To receive hedge accounting treatment, all hedging relationships are formally documented at the inception of the hedge, and the hedges must be tested to demonstrate an expectation of providing highly effective offsetting changes to future cash flows on hedged transactions. When derivative instruments are designated and qualify as effective cash flow hedges, the Company recognizes effective changes in the fair value of the hedging instrument within accumulated other comprehensive income (loss) until the hedged exposure is realized. Consequently, the Company’s results of operations are not subject to fluctuation as a result of changes in the fair value of the derivative instruments. If hedges are not highly effective or if the Company does not believe that the underlying hedged forecasted transactions will occur, the Company may not be able to account for its derivative instruments as cash flow hedges. If this were to occur, future changes in the fair values of the Company’s derivative instruments would be recognized in earnings. Additionally, related amounts previously recorded in other comprehensive income would be reclassified to earnings immediately. There were no material gains or losses during the fiscal years ended June 30, 2024, June 25, 2023, or June 26, 2022 associated with forecasted transactions that did not occur, nor any ineffectiveness recognized in the same periods. As of June 30, 2024 and June 25, 2023, the fair value of outstanding cash flow hedges was not material. The effect of derivative instruments designated as cash flow hedges on the Company’s Consolidated Statements of Operations, including accumulated other comprehensive income, was not material as of and for the twelve months ended June 30, 2024 and June 25, 2023. As of June 30, 2024, the Company had an immaterial net gain or loss accumulated in other comprehensive income, net of tax, related to foreign exchange cash flow hedges and interest rate contracts which it expects to reclassify from other comprehensive income into earnings over the next 12 months. The total notional value of cash flow hedge instruments outstanding as of June 30, 2024 included $307.3 million of buy contracts and $136.5 million of sell contracts. Balance Sheet Hedges The Company also enters into foreign currency forward contracts to hedge fluctuations associated with foreign currency denominated monetary assets and liabilities, primarily cash, third-party accounts receivable, accounts payable, and intercompany receivables and payables. These forward contracts are not designated for hedge accounting treatment. Therefore, the change in the carrying value of these derivatives is recorded as a component of other income (expense), net and offsets the change in fair value of the foreign currency denominated assets and liabilities related to remeasurement, which are also recorded in other income (expense), net. As of June 30, 2024 and June 25, 2023, the fair value of outstanding balance sheet hedges was not material. The effect of the Company’s balance sheet hedge derivative instruments on the Company’s Consolidated Statements of Operations were not material as of and for the twelve months ended June 30, 2024. The total notional value of balance sheet hedge instruments outstanding as of June 30, 2024 included $366.9 million of buy contracts and $238.2 million of sell contracts. Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, trade accounts receivable, and derivative financial instruments used in hedging activities. Cash is placed on deposit at large, global financial institutions. Such deposits may be in excess of insured limits. Management believes that the financial institutions that hold the Company’s cash are creditworthy and, accordingly, minimal credit risk exists with respect to these balances. The Company’s overall portfolio of available-for-sale securities must maintain an average minimum rating of “AA-” or “Aa3” as rated by Standard and Poor’s, Fitch Ratings, or Moody’s Investor Services. To ensure diversification and minimize concentration, the Company’s policy limits the amount of credit exposure with any one financial institution or commercial issuer. The Company is exposed to credit losses in the event of nonperformance by counterparties on foreign currency and interest rate hedge contracts that are used to mitigate the effect of exchange rate and interest rate fluctuations and on contracts related to structured share repurchase arrangements. These counterparties are large, global financial institutions and, to date, no such counterparty has failed to meet its financial obligations to the Company. Credit risk evaluations, including trade references, bank references, and Dun & Bradstreet ratings, are performed on all new customers, and the Company monitors its customers’ financial condition and payment performance. In general, the Company does not require collateral on sales. As of June 30, 2024, three customers accounted for approximately 16%, 13% and 13% of accounts receivable, respectively. As of June 25, 2023, three customers accounted for approximately 32%, 13%, and 10% of accounts receivable, respectively. No other customers accounted for 10% or more of accounts receivable. The Company’s balance and transactional activity for its allowance for doubtful accounts is not material as of and for the years ended June 30, 2024, June 25, 2023, and June 26, 2022. Refer to Note 19: Segment, Geographic Information, and Major Customers for additional information regarding customer concentrations.

Inventories

Inventories	12 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value using standard costs that approximate actual costs on a first-in, first-out basis. Inventories consist of the following: June 30, June 25, (in thousands) Raw materials $ 2,921,139 $ 3,196,988 Work-in-process 284,078 325,611 Finished goods 1,012,707 1,293,591 $ 4,217,924 $ 4,816,190

Property and Equipment

Property and Equipment	12 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment, net, is presented in the table below. June 30, June 25, (in thousands) Manufacturing and engineering equipment $ 1,956,478 $ 1,802,627 Buildings and improvements 1,605,802 1,286,849 Computer and computer-related equipment 178,941 174,084 Land 163,796 98,739 Office equipment, furniture and fixtures 85,629 83,108 3,990,646 3,445,407 Less: accumulated depreciation and amortization (1,860,664) (1,642,456) $ 2,129,982 $ 1,802,951 The Company has excluded $24.5 million, and $53.7 million of finance right-of-use assets recorded within property and equipment, net from the table above for the years ended June 30, 2024 and June 25, 2023, respectively. See Note 15: Leases for additional information regarding these finance lease right-of-use assets.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill The balance of goodwill was $1.6 billion as of June 30, 2024 and June 25, 2023, respectively. As of June 30, 2024 and June 25, 2023, $65.4 million of the goodwill balance is tax deductible, and the remaining balance is not tax deductible due to purchase accounting and applicable foreign law. No goodwill impairments were recognized in fiscal years 2024, 2023, or 2022. Refer t o Note 20: Business Combinations for additional information regarding the Company’s goodwill balance. Intangible Assets The following table provides details of the Company’s intangible assets, other than goodwill: June 30, 2024 June 25, 2023 Gross Accumulated Net Gross Accumulated Net (in thousands) Customer relationships $ 644,128 $ (633,740) $ 10,388 $ 644,138 $ (631,420) $ 12,718 Existing technology 747,390 (686,460) 60,930 717,331 (674,549) 42,782 Patents and other intangible assets 208,052 (140,825) 67,227 199,532 (116,659) 82,873 Intangible assets subject to amortization 1,599,570 (1,461,025) 138,545 1,561,001 (1,422,628) 138,373 In process research and development — — — 30,081 — 30,081 Total intangible assets $ 1,599,570 $ (1,461,025) $ 138,545 $ 1,591,082 $ (1,422,628) $ 168,454 The Company recognized $56.3 million, $51.5 million, and $78.0 million in intangible asset amortization expense during fiscal years 2024, 2023, and 2022, respectively. Intangible asset impairments in fiscal year 2024 were insignificant. No intangible asset impairments were recognized in fiscal years 2023 or 2022. The estimated future amortization expense of intangible assets as of June 30, 2024, is reflected in the table below. The table excludes $13.2 million of capitalized costs for intangible assets that have not yet been placed into service. Fiscal Year Amount (in thousands) 2025 $ 42,485 2026 28,010 2027 18,417 2028 14,446 2029 11,673 Thereafter 10,317 $ 125,348 Refer t o Note 20: Business Combinations for additional information regarding the Company’s intangible assets.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	12 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following: June 30, June 25, (in thousands) Accrued compensation $ 516,717 $ 481,354 Warranty reserves 228,060 256,781 Income and other taxes payable 186,700 460,630 Dividend payable 260,905 231,267 Restructuring 607 8,014 Other 608,888 572,591 $ 1,801,877 $ 2,010,637

Long Term Debt and Other Borrow

Long Term Debt and Other Borrowings	12 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Long Term Debt and Other Borrowings	Long Term Debt and Other Borrowings As of June 30, 2024, and June 25, 2023, the Company’s outstanding debt consisted of the following: June 30, 2024 June 25, 2023 Amount Effective Interest Rate Amount Effective Interest Rate Fixed-rate 3.80% Senior Notes Due March 15, 2025 (“2025 Notes”) $ 500,000 3.87 % $ 500,000 3.87 % Fixed-rate 3.75% Senior Notes Due March 15, 2026 ("2026 Notes") 750,000 3.86 % 750,000 3.86 % Fixed-rate 4.00% Senior Notes Due March 15, 2029 ("2029 Notes") 1,000,000 4.09 % 1,000,000 4.09 % Fixed-rate 1.90% Senior Note Due June 15, 2030 ("2030 Notes") 750,000 2.01 % 750,000 2.01 % Fixed-rate 4.875% Senior Notes Due March 15, 2049 ("2049 Notes") 750,000 4.93 % 750,000 4.93 % Fixed-rate 2.875% Senior Note Due June 15, 2050 ("2050 Notes") 750,000 2.93 % 750,000 2.93 % Fixed-rate 3.125% Senior Note Due June 15, 2060 ("2060 Notes") 500,000 3.18 % 500,000 3.18 % Total Senior Notes outstanding, at par 5,000,000 5,000,000 Unamortized discount (28,148) (32,934) Fair value adjustment - interest rate contracts — 3,050 (1) Unamortized bond issuance costs (5,435) (6,189) Other financing arrangements 944 1,438 Total debt outstanding, at carrying value $ 4,967,361 $ 4,965,365 Reported as: Current portion of long-term debt $ 501,316 $ 421 Long-term debt $ 4,466,045 $ 4,964,944 (1) This amount represents a cumulative fair value gain for discontinued hedging relationships, net of an immaterial amount of amortization as of the periods presented. The Company’s contractual cash obligations relating to its outstanding debt as of June 30, 2024, were as follows: Payments Due by Fiscal Year: Principal Interest (in thousands) 2025 $ 500,000 $ 169,583 2026 750,000 147,922 2027 — 128,000 2028 — 128,000 2029 1,000,000 116,333 Thereafter 2,750,000 1,669,880 Total $ 5,000,000 $ 2,359,718 Senior Notes On May 5, 2020, the Company completed a public offering of $750 million aggregate principal amount of the Company’s Senior Notes due June 15, 2030 (the “2030 Notes”), $750 million aggregate principal amount of the Company’s Senior Notes due June 15, 2050 (the “2050 Notes”), and $500 million aggregate principal amount of the Company’s Senior Notes due June 15, 2060 (the “2060 Notes”). The Company pays interest at an annual rate of 1.90%, 2.875%, and 3.125%, on the 2030, 2050, and 2060 Notes, respectively, on a semi-annual basis on June 15 and December 15 of each year. On March 4, 2019, the Company completed a public offering of $750 million aggregate principal amount of the Company’s Senior Notes due March 15, 2026 (the “2026 Notes”), $1.0 billion aggregate principal amount of the Company’s Senior Notes due March 15, 2029 (the “2029 Notes”), and $750 million aggregate principal amount of the Company’s Senior Notes due March 15, 2049 (the “2049 Notes”). The Company pays interest at an annual rate of 3.75%, 4.00%, and 4.875%, on the 2026, 2029, and 2049 Notes, respectively, on a semi-annual basis on March 15 and September 15 of each year. On March 12, 2015, the Company completed a public offering of $500 million aggregate principal amount of the Company’s Senior Notes due March 15, 2025 (the “2025 Notes”). The Company pays interest at an annual rate of 3.80% on the 2025 Notes on a semi-annual basis on March 15 and September 15 of each year. The Company may redeem the 2025, 2026, 2029, 2030, 2049, 2050, and 2060 Notes (collectively the “Senior Notes”) at a redemption price equal to 100% of the principal amount of such series (“par”), plus a “make whole” premium as described in the indenture in respect to the Senior Notes and accrued and unpaid interest before December 15, 2024 for the 2025 Notes, before January 15, 2026 for the 2026 Notes, before December 15, 2028 for the 2029 Notes, before March 15, 2030 for the 2030 Notes, before September 15, 2048 for the 2049 Notes, before December 15, 2049 for the 2050 Notes, and before December 15, 2059 for the 2060 Notes. The Company may redeem the Senior Notes at par, plus accrued and unpaid interest at any time on or after December 24, 2024 for the 2025 Notes, on or after January 15, 2026 for the 2026 Notes, on or after December 15, 2028 for the 2029 Notes, on or after March 15, 2030 for the 2030 Notes, on or after September 15, 2048 for the 2049 Notes, on or after December 15, 2049 for the 2050 Notes, and on or after December 15, 2059 for the 2060 Notes. In addition, upon the occurrence of certain events, as described in the indenture, the Company will be required to make an offer to repurchase the Senior Notes at a price equal to 101% of the principal amount of the respective note, plus accrued and unpaid interest. Selected additional information regarding the Senior Notes outstanding as of June 30, 2024, is as follows: Remaining Amortization period Fair Value of Notes (Level 2) (years) (in thousands) 2025 Notes 0.7 $ 494,015 2026 Notes 1.7 $ 731,970 2029 Notes 4.7 $ 961,560 2030 Notes 6.0 $ 632,880 2049 Notes 24.7 $ 685,553 2050 Notes 26.0 $ 488,130 2060 Notes 36.0 $ 317,660 Revolving Credit Facility On March 12, 2014, the Company established an unsecured Credit Agreement. This agreement was amended on November 10, 2015 (the “Amended and Restated Credit Agreement”), October 13, 2017 (the “2nd Amendment”), February 25, 2019 (the “3rd Amendment”), June 17, 2021 (the “Second Amended and Restated Credit Agreement”), and December 7, 2022 (“Amendment No.1 to Second Amended and Restated Credit Agreement”). The Second Amended and Restated Credit Agreement provides for a $1.50 billion revolving credit facility with a syndicate of lenders, along with an expansion option that will allow the Company, subject to certain requirements, to request an increase in the facility of up to an additional $600.0 million, for a potential total commitment of $2.10 billion. The facility matures on June 17, 2026. The Amendment No.1 To Second Amended and Restated Credit Agreement replaces the benchmark reference rate, London inter-bank offered rate, with term secured overnight financing rate (“SOFR”) equal to the term rate determined by the Chicago Mercantile Exchange term SOFR administrator plus 0.10% (“adjusted term SOFR”), with no change to the amount or timing of contractual cash flows. Interest on amounts borrowed under the credit facility is, at the Company’s option, based on (1) a base rate, defined as the greatest of (a) prime rate, (b) Federal Funds rate plus 0.5%, or (c) adjusted term SOFR plus 1.0%, plus a spread of 0.00% to 0.30%, or (2) adjusted term SOFR, plus a spread of 0.805% to 1.30%, in each case plus a facility fee, with such spread and facility fee determined based on the rating of the Company’s non-credit enhanced, senior unsecured long-term debt. Such spreads and such facility fees are further subject to sustainability adjustments as described in the Amendment No. 1 to Second Amended and Restated Credit Agreement, in each case based on the Company’s performance of certain energy savings and health and safety standards metrics. Principal and any accrued and unpaid interest are due and payable upon maturity. Additionally, the Company will pay the lenders a quarterly commitment fee that varies based on the Company’s credit rating. As of June 30, 2024, the Company had no borrowings outstanding under the credit facility and was in compliance with all financial covenants. Commercial Paper Program On November 13, 2017, the Company established a commercial paper program (the “CP Program”) under which the Company may issue unsecured commercial paper notes on a private placement basis up to a maximum aggregate principal amount of $1.25 billion. In July 2021, the Company amended the CP Program size to a maximum aggregate amount outstanding at any time of $1.50 billion. The net proceeds from the CP Program may be used for general corporate purposes, including repurchases of the Company’s Common Stock from time to time under the Company’s stock repurchase program. Amounts available under the CP Program may be re-borrowed. The CP Program is backstopped by the Company’s Revolving Credit Arrangement. As of June 30, 2024, the Company had no outstanding borrowings under the CP Program. Interest Cost The following table presents the amount of interest cost recognized relating to both the contractual interest coupon and amortization of the debt discount, issuance costs, and effective portion of interest rate contracts with respect to the Senior Notes, and the revolving credit facility during the fiscal years ended June 30, 2024, June 25, 2023, and June 26, 2022. Year Ended June 30, June 25, June 26, (in thousands) Contractual interest coupon $ 175,128 $ 175,128 $ 175,128 Amortization of interest discount 3,274 2,862 2,767 Amortization of issuance costs 1,488 1,376 1,351 Effect of interest rate contracts, net 3,145 2,545 2,455 Total interest cost recognized $ 183,035 $ 181,911 $ 181,701

Leases

Leases	12 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	Leases The Company leases certain office spaces, manufacturing and warehouse spaces, equipment, and vehicles. While the majority of the Company’s lease arrangements are operating leases, the Company has certain leases that qualify as finance leases. The components of lease expense were as follows for the years ended June 30, 2024, June 25, 2023, and June 26, 2022: Year Ended June 30, June 25, June 26, (in thousands) Financing lease cost: Amortization of right-of-use assets $ 5,175 $ 7,899 $ 7,439 Interest on lease liabilities 756 863 658 Total finance lease cost $ 5,931 $ 8,762 $ 8,097 Operating lease cost $ 83,476 $ 75,660 $ 69,250 Variable lease cost 176,641 227,726 259,041 Variable lease payments are expensed as incurred and are not included within the right of use asset and lease liability calculation. Variable lease payments primarily include costs associated with the Company’s third-party logistics arrangements that contain one or more embedded leases. Variable lease costs will fluctuate based on factory output and material receipt volumes. Short-term rental expense, for agreements less than one year in duration, were immaterial for the twelve months ended June 30, 2024, June 25, 2023, and June 26, 2022, respectively. Supplemental cash flow information related to leases was as follows as of June 30, 2024, June 25, 2023, and June 26, 2022: Year Ended June 30, June 25, June 26, (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows paid for operating leases $ 97,447 $ 74,397 $ 64,808 Financing cash flows paid for principal portion of finance leases 255,695 14,985 11,513 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 146,169 $ 91,592 $ 121,580 Finance leases 226,519 20,161 13,868 Supplemental balance sheet information related to leases was as follows as of June 30, 2024 and June 25, 2023: June 30, June 25, (in thousands) Operating leases Other assets $ 308,336 $ 242,656 Accrued expenses and other current liabilities $ 64,443 $ 64,682 Other long-term liabilities 223,273 172,886 Total operating lease liabilities $ 287,716 $ 237,568 Finance Leases Property and Equipment, net $ 24,536 $ 53,721 Current portion of long-term debt and lease liabilities $ 3,498 $ 7,937 Long-term debt and lease liabilities, less current portion 12,475 38,239 Total finance lease liabilities $ 15,973 $ 46,176 June 30, 2024 June 25, 2023 Weighted-Average Remaining Lease Term Weighted-Average Discount Rate Weighted-Average Remaining Lease Term Weighted-Average Discount Rate (in years) (in years) Operating leases 4.9 3.54 % 4.9 3.80 % Finance leases 5.8 3.39 % 5.2 2.56 % As of June 30, 2024, the maturities of lease liabilities are as follows: Operating Leases Finance Leases (in thousands) 2025 $ 72,326 $ 3,942 2026 61,810 3,239 2027 48,115 2,840 2028 45,898 2,211 2029 46,964 1,779 Thereafter 42,754 3,475 Total lease payments $ 317,867 $ 17,486 Less imputed interest (30,151) (1,513) Total $ 287,716 $ 15,973 Selected Leases and Related Guarantees The Company leases some of its administrative, research and development and manufacturing facilities, regional sales/service offices, and certain equipment under non-cancelable leases. Certain of the Company’s facility leases for buildings located at its Tualatin, Oregon campus; and certain other facility leases provide the Company with options to extend the leases for additional periods or to purchase the facilities. Certain of the Company’s facility leases provide for periodic rent increases based on the general rate of inflation. The Company elected to exercise purchase options available under its finance leases for certain improved properties in Fremont and Livermore, California (the “California Facility Leases”) in the three months ended September 24, 2023. As a result, the Company released cash collateral in an aggregate of approximately $250 million of restricted cash that was reported in Other assets in the Company’s Consolidated Balance Sheet. Additionally, guarantees made to the lessor that each property would have a certain minimum residual value totaling $298.4 million as of June 25, 2023 in the aggregate were eliminated with the extinguishment of the California Facility Leases. As a result of the purchase of the improved properties, $250.5 million of additions were made to Property and equipment, net in the Company’s Consolidated Balance Sheets primarily comprised of land ($40.5 million) and buildings and improvements ($210.0 million).
Leases	Leases The Company leases certain office spaces, manufacturing and warehouse spaces, equipment, and vehicles. While the majority of the Company’s lease arrangements are operating leases, the Company has certain leases that qualify as finance leases. The components of lease expense were as follows for the years ended June 30, 2024, June 25, 2023, and June 26, 2022: Year Ended June 30, June 25, June 26, (in thousands) Financing lease cost: Amortization of right-of-use assets $ 5,175 $ 7,899 $ 7,439 Interest on lease liabilities 756 863 658 Total finance lease cost $ 5,931 $ 8,762 $ 8,097 Operating lease cost $ 83,476 $ 75,660 $ 69,250 Variable lease cost 176,641 227,726 259,041 Variable lease payments are expensed as incurred and are not included within the right of use asset and lease liability calculation. Variable lease payments primarily include costs associated with the Company’s third-party logistics arrangements that contain one or more embedded leases. Variable lease costs will fluctuate based on factory output and material receipt volumes. Short-term rental expense, for agreements less than one year in duration, were immaterial for the twelve months ended June 30, 2024, June 25, 2023, and June 26, 2022, respectively. Supplemental cash flow information related to leases was as follows as of June 30, 2024, June 25, 2023, and June 26, 2022: Year Ended June 30, June 25, June 26, (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows paid for operating leases $ 97,447 $ 74,397 $ 64,808 Financing cash flows paid for principal portion of finance leases 255,695 14,985 11,513 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 146,169 $ 91,592 $ 121,580 Finance leases 226,519 20,161 13,868 Supplemental balance sheet information related to leases was as follows as of June 30, 2024 and June 25, 2023: June 30, June 25, (in thousands) Operating leases Other assets $ 308,336 $ 242,656 Accrued expenses and other current liabilities $ 64,443 $ 64,682 Other long-term liabilities 223,273 172,886 Total operating lease liabilities $ 287,716 $ 237,568 Finance Leases Property and Equipment, net $ 24,536 $ 53,721 Current portion of long-term debt and lease liabilities $ 3,498 $ 7,937 Long-term debt and lease liabilities, less current portion 12,475 38,239 Total finance lease liabilities $ 15,973 $ 46,176 June 30, 2024 June 25, 2023 Weighted-Average Remaining Lease Term Weighted-Average Discount Rate Weighted-Average Remaining Lease Term Weighted-Average Discount Rate (in years) (in years) Operating leases 4.9 3.54 % 4.9 3.80 % Finance leases 5.8 3.39 % 5.2 2.56 % As of June 30, 2024, the maturities of lease liabilities are as follows: Operating Leases Finance Leases (in thousands) 2025 $ 72,326 $ 3,942 2026 61,810 3,239 2027 48,115 2,840 2028 45,898 2,211 2029 46,964 1,779 Thereafter 42,754 3,475 Total lease payments $ 317,867 $ 17,486 Less imputed interest (30,151) (1,513) Total $ 287,716 $ 15,973 Selected Leases and Related Guarantees The Company leases some of its administrative, research and development and manufacturing facilities, regional sales/service offices, and certain equipment under non-cancelable leases. Certain of the Company’s facility leases for buildings located at its Tualatin, Oregon campus; and certain other facility leases provide the Company with options to extend the leases for additional periods or to purchase the facilities. Certain of the Company’s facility leases provide for periodic rent increases based on the general rate of inflation. The Company elected to exercise purchase options available under its finance leases for certain improved properties in Fremont and Livermore, California (the “California Facility Leases”) in the three months ended September 24, 2023. As a result, the Company released cash collateral in an aggregate of approximately $250 million of restricted cash that was reported in Other assets in the Company’s Consolidated Balance Sheet. Additionally, guarantees made to the lessor that each property would have a certain minimum residual value totaling $298.4 million as of June 25, 2023 in the aggregate were eliminated with the extinguishment of the California Facility Leases. As a result of the purchase of the improved properties, $250.5 million of additions were made to Property and equipment, net in the Company’s Consolidated Balance Sheets primarily comprised of land ($40.5 million) and buildings and improvements ($210.0 million).

Retirement and Deferred Compens

Retirement and Deferred Compensation Plans	12 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Retirement and Deferred Compensation Plans	Retirement and Deferred Compensation Plans Employee Savings and Retirement Plan The Company maintains a 401(k) retirement savings plan for its eligible employees in the United States. Each participant in the plan may elect to contribute from 1% to 75% of annual eligible earnings to the plan, subject to statutory limitations. The Company makes matching employee contributions in cash to the plan at the rate of 50% of the first 6% of earnings contributed. Employees participating in the 401(k) retirement savings plan are fully vested in the Company matching contributions, and investments are directed by participants. The Company made matching contributions of $34.3 million, $34.7 million, and $32.6 million, in fiscal years 2024, 2023, and 2022, respectively. Deferred Compensation Arrangements The Company has an unfunded, non-qualified deferred compensation plan whereby executives may defer a portion of their compensation. Participants earn a return on their deferred compensation based on their allocation of their account balance among various mutual funds. The Company controls the investment of these funds, and the participants remain general creditors of the Company. Participants are able to elect the payment of benefits on a specified date at least three years after the opening of a deferral sub-account or upon retirement. Distributions are made in the form of lump sum or annual installments over a period of up to 20 years as elected by the participant. If no alternate election has been made, a lump sum payment will be made upon termination of a participant’s employment with the Company. As of June 30, 2024, and June 25, 2023, the liability of the Company to the plan participants was $385.5 million and $318.0 million, respectively, which was recorded in Accrued expenses and other current liabilities and Other long-term liabilities on the Consolidated Balance Sheets. As of June 30, 2024, and June 25, 2023, the Company had investments in the aggregate amount of $393.5 million and $318.1 million, respectively, which correlate to the deferred compensation obligations, which were recorded in Other assets on the Consolidated Balance Sheets. Post-Retirement Healthcare Plan The Company maintains a post-retirement healthcare plan for certain executive and director retirees. Coverage continues through the duration of the lifetime of the retiree or the retiree’s spouse, whichever is longer. The benefit obligation was $31.2 million and $33.2 million as of June 30, 2024, and June 25, 2023, respectively.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company has certain obligations to make future payments under various contracts; some of these are recorded on its balance sheet and some are not. Obligations that are recorded on the Company’s balance sheet include the Company’s operating and finance lease obligations. Obligations that are not recorded on the Company’s balance sheet include contractual relationships for purchase obligations and certain guarantees. The Company’s commitments relating to off-balance sheet agreements are included in the tables below. These amounts exclude $679.0 million of liabilities related to uncertain tax positions (see Note 7: Income Taxes for further discussion) as of the end of the fiscal year because the Company is unable to reasonably estimate the ultimate amount or time of settlement. Other Guarantees The Company has issued certain indemnifications to its lessors for taxes and general liability under some of its agreements. The Company has entered into insurance contracts that are intended to limit its exposure to such indemnifications. As of June 30, 2024, the Company had not recorded any liability on its Consolidated Financial Statements in connection with these indemnifications, as it does not believe that it is probable that any material amounts will be paid under these guarantees. Generally, the Company indemnifies, under pre-determined conditions and limitations, its customers for infringement of third-party intellectual property rights by the Company’s products or services. The Company seeks to limit its liability for such indemnity to an amount not to exceed the sales price of the products or services subject to its indemnification obligations. The Company does not believe that it is probable that any material amounts will be paid under these guarantees. The Company provides guarantees and standby letters of credit to certain parties as required for certain transactions initiated during the ordinary course of business. As of June 30, 2024, the maximum potential amount of future payments that the Company could be required to make under these arrangements and letters of credit was $207.9 million. The Company does not believe, based on historical experience and information currently available, that it is probable that any material amounts will be required to be paid. In addition, the Company has entered into indemnification agreements with its directors, officers, and certain other employees, consistent with its Bylaws and Certificate of Incorporation; and under local law, the Company may be required to provide indemnification to its employees for actions within the scope of their employment. Although the Company maintains insurance contracts that cover some of the potential liability associated with these indemnification agreements, there is no guarantee that all such liabilities will be covered. The Company does not believe, based on historical experience and information currently available, that it is probable that any material amounts will be required to be paid under such indemnification agreements or statutory obligations. Purchase Obligations Purchase obligations consist of non-cancelable significant contractual obligations either on an annual basis or over multi-year periods. The contractual cash obligations and commitments table presented below contains the Company’s minimum obligations at June 30, 2024, under these arrangements and others. For obligations with cancellation provisions, the amounts included in the following table were limited to the non-cancelable portion of the agreement terms or the minimum cancellation fee. Actual expenditures will vary based on the volume of transactions and length of contractual service provided. The Company’s commitments related to these agreements as of June 30, 2024, were as follows: Payments Due by Fiscal Year: Purchase (in thousands) 2025 $ 816,752 2026 29,784 2027 4,508 2028 4,786 2029 3,679 Thereafter 3,113 Purchase obligations for which timing of payment is indeterminable 64,061 Total $ 926,683 Transition Tax Liability On December 22, 2017, the “Tax Cuts & Jobs Act” was signed into law. Among other items, this U.S. tax reform assessed a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred. As a result, the Company recognized a total transition tax of $868.4 million and elected to pay the one-time tax over a period of 8 years, commencing in the twelve months ended June 30, 2019. During fiscal year 2023, this one-time tax was adjusted, resulting in a total tax liability increase of approximately $50.0 million, which was spread over the same 8-year period. The Company’s remaining obligation related to this arrangement as of June 30, 2024, were as follows: Payments Due by Fiscal Year (1) : Transition Tax (in thousands) 2025 $ 183,710 2026 229,638 Total $ 413,348 (1) The Company may choose to apply existing tax credits, thereby reducing the actual cash payment. Warranties The Company provides standard warranties on its systems. The liability amount is based on actual historical warranty spending activity by type of system, customer, and geographic region, modified for any known differences such as the impact of system reliability improvements. As of June 30, 2024, warranty reserves totaling $22.3 million were reported in Other long-term liabilities, the remainder were included in Accrued expenses and other current liabilities in the Company’s Consolidated Balance Sheets. Changes in the Company’s product warranty reserves were as follows: Year Ended June 30, June 25, (in thousands) Balance at beginning of period $ 286,663 $ 256,258 Warranties issued during the period 193,829 272,281 Settlements made during the period (189,213) (240,841) Changes in liability for warranties issued during the period (155) (14,270) Changes in liability for pre-existing warranties (40,720) 13,235 Balance at end of period $ 250,404 $ 286,663 Government Assistance In the fiscal years ended June 30, 2024 and June 25, 2023, the Company received government assistance from various domestic and international governments in the form of cash grants or refundable tax credits. The Grants typically specify conditions that must be met in order for the Grants to be earned, such as employment or employee retention targets; completion of employee training; or the construction or acquisition of property and equipment and are often time-bound. If conditions are not satisfied or if the duration period for the arrangement is not met, the Grants are often subject to reduction, repayment, or termination. During the fiscal years ended June 30, 2024 and June 25, 2023, the Company’s cash Grants were insignificant. During the fiscal years ended June 30, 2024 and June 25, 2023, the Company recognized immaterial reductions to the cost basis of acquired property and equipment related to refundable tax credits earned. This reduction in the cost basis of acquired property and equipment is recorded with a corresponding reduction to taxes payable and classified under Accrued expense and other current liabilities, or Other long-term liabilities, as appropriate, in the Consolidated Balance Sheets. Legal Proceedings While the Company is not currently a party to any legal proceedings that it believes material, the Company is either a defendant or plaintiff in various actions that have arisen from time to time in the normal course of business, including intellectual property claims. The Company accrues for a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Judgment is required in both the determination of probability and the determination as to whether a loss is reasonably estimable. Based on current information, the Company does not believe that a material loss from known matters is probable and therefore has not recorded an accrual of any material amount for litigation or other contingencies related to existing legal proceedings.

Stock Repurchase Program

Stock Repurchase Program	12 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stock Repurchase Program	Stock Repurchase Program In May 2024, the Board of Directors authorized the Company to repurchase up to an additional $10.0 billion of Common Stock; this authorization supplements the remaining balances from any prior authorizations. These repurchases can be conducted on the open market or as private purchases and may include the use of derivative contracts with large financial institutions, in all cases subject to compliance with applicable law. This repurchase program has no termination date and may be suspended or discontinued at any time. Repurchases under the repurchase program were as follows during the periods indicated: Period Total Number Total Cost of Repurchase (3) Average (1,3) Amount Available (in thousands, except per share data) Available balance as of June 25, 2023 $ 3,537,217 Quarter ended September 24, 2023 1,257 $ 829,874 $ 660.01 $ 2,707,343 Quarter ended December 24, 2023 970 $ 640,267 $ 660.04 $ 2,067,076 Quarter ended March 31, 2024 828 (2) $ 860,084 $ 774.77 $ 1,206,992 Board authorization, $10 billion increase, May 2024 $ 11,206,992 Quarter ended June 30, 2024 525 (2) $ 382,332 $ 993.91 $ 10,824,660 (1) Average price paid per share excludes the effect of accelerated share repurchase activities. See additional disclosure below regarding the Company’s accelerated share repurchase activity during the fiscal year. (2) Includes shares received at initial or final settlement of accelerated share repurchase agreements; see additional disclosures below regarding the Company’s accelerated share repurchase activity during the fiscal year. (3) The Company’s net share repurchases are subject to a 1% excise tax under the Inflation Reduction Act. Excise tax incurred reduces the amount available under the repurchase program, as applicable, and is included in the cost of shares repurchased in the Consolidated Statement of Stockholders’ Equity and the calculation of the average price paid per share. In addition to the shares repurchased under the Board-authorized repurchase program shown above, the Company acquired 144 thousand shares at a total cost of $135.9 million during the 12 months ended June 30, 2024, which the Company withheld through net settlements to cover minimum tax withholding obligations upon the vesting of restricted stock unit awards granted under the Company’s equity compensation plans. The shares retained by the Company through these net share settlements are not a part of the Board-authorized repurchase program but instead are authorized under the Company’s equity compensation plan. Accelerated Share Repurchase Agreements On February 1, 2024, the Company entered into accelerated share repurchase agreements (the "February 2024 ASRs") with two financial institutions to repurchase a total of $700 million of Common Stock. The Company took an initial delivery of approximately 631 thousand shares, which represented 75% of the prepayment amount divided by our closing stock price on February 1, 2024. The total number of shares received under the February 2024 ASRs was based upon the average daily volume weighted average price of the Company’s Common Stock during the repurchase period, less an agreed upon discount. Final settlement of the February 2024 ASRs occurred during April 2024, resulting in the receipt of approximately 140 thousand additional shares, which yielded a weighted-average share price of $917.38 (net of applicable excise taxes) for the transaction period. The Company recorded the February 2024 ASRs as equity transactions; as such, at the time of receipt, shares were included in treasury stock at fair market value as of the corresponding trade date. The Company reflects shares received as a repurchase of common stock in the weighted average common shares outstanding calculation for basic and diluted earnings per share.

Segment, Geographic Information

Segment, Geographic Information and Major Customers	12 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment, Geographic Information and Major Customers	Segment, Geographic Information, and Major Customers The Company operates in one reportable business segment: manufacturing and servicing of wafer processing semiconductor manufacturing equipment. The Company’s material operating segments qualify for aggregation due to their customer base and similarities in economic characteristics, nature of products and services, and processes for procurement, manufacturing, and distribution. The Company operates in seven geographic regions: United States, China, Europe, Japan, Korea, Southeast Asia, and Taiwan. For geographical reporting, revenue is attributed to the geographic location in which the customers’ facilities are located, while long-lived assets; which includes property and equipment, net, and recognized right of use assets reported in Other assets in the Consolidated Balance Sheets as of June 30, 2024 and June 25, 2023; are attributed to the geographic locations in which the assets are located. Revenues and long-lived assets by geographic region were as follows: Year Ended June 30, June 25, June 26, Revenue: (in thousands) China $ 6,293,990 $ 4,462,663 $ 5,411,502 Korea 2,874,015 3,551,742 4,037,467 Taiwan 1,671,815 3,477,862 2,936,482 Japan 1,460,429 1,758,364 1,624,573 United States 1,104,087 1,665,136 1,147,346 Southeast Asia 794,054 1,354,471 1,357,648 Europe 706,996 1,158,278 712,021 Total revenue $ 14,905,386 $ 17,428,516 $ 17,227,039 June 30, June 25, June 26, Long-lived assets: (in thousands) United States $ 1,582,103 $ 1,367,534 $ 1,276,274 Southeast Asia 390,514 339,415 248,029 Korea 262,405 215,898 183,809 Europe 115,316 93,732 77,658 Taiwan 98,268 65,432 72,845 Japan 7,858 8,452 8,406 China 6,390 8,865 7,214 $ 2,462,854 $ 2,099,328 $ 1,874,235 In fiscal year 2024, one customer accounted for approximately 17% of total revenues. In fiscal year 2023, two customers accounted for approximately 22% and 16% of total revenues, respectively. In fiscal year 2022, four customers accounted for approximately 21%, 12%, 12%, and 11% of total revenues, respectively. No other customers accounted for 10% or more of total revenues.

Business Combinations

Business Combinations	12 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Business Combinations	Business Combinations In November 2022, the Company completed two business combination transactions acquiring the outstanding shares of two separate private companies in cash transactions collectively valued at $153.8 million as of the respective purchase dates. The Company’s assessment of acquisition date fair value of the assets acquired and liabilities assumed resulted in the recognition of $102.2 million of goodwill and $81.2 million of intangible assets; all other assets acquired and all liabilities assumed were immaterial. The purchase price allocation related to the two business combination transactions is considered final. The Company expensed all associated costs, as incurred, in Selling, general, and administrative expense in the Consolidated Statement of Operations for the year ended June 25, 2023. The following table is a summary of the fair value estimates of the identifiable intangible assets and their useful lives: Weighted-Average Useful Life Estimated Purchase Date Fair Value (in thousands) Existing technology 7 years $ 40,294 Customer relationships 8 years 10,835 In process research and development Indefinite 30,081 $ 81,210

Restructuring Charges, Net

Restructuring Charges, Net	12 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring Charges, Net	Restructuring Charges, Net The Company records employee severance and separation costs that meet the requirements for recognition in accordance with the relevant guidance of ASC 420, Exit or Disposal Cost Obligations, or ASC 712, Compensation - Non-retirement Post-employment Benefits, as applicable. For involuntary termination benefits that are not provided under the terms of an ongoing benefit arrangement, the liability for the current fair value of expected future costs associated with a management-approved restructuring plan is recognized in the period in which the plan is communicated to the employees and the plan is not expected to change significantly. For ongoing benefit arrangements, inclusive of statutory requirements, employee termination costs are accrued when the existing situation or set of circumstances indicates that an obligation has been incurred, it is probable the benefits will be paid, and the amount can be reasonably estimated. Termination benefits associated with employees that elected to voluntarily terminate as part of the restructuring plan are recorded when the employee irrevocably accepts the offer and the amount can be reasonably estimated. If applicable, the Company records such costs into operating expense over the terminated employees’ future service period beyond any minimum or legally required retention period. The majority of restructuring charges that have been incurred but not yet paid are recorded in Accrued expenses and other current liabilities in the Consolidated Balance Sheets. During the fiscal year ended June 25, 2023, the Company initiated a restructuring plan designed to better align the Company’s cost structure with its outlook for the economic environment and business opportunities. Under the plan, through June 30, 2024, the Company terminated approximately 1,760 employees, incurring expenses related to employee severance and separation costs. Employee severance and separation costs are primarily related to severance, non-cash severance, including equity award compensation expense, pension and other termination benefits. Additionally, the Company made a strategic decision to relocate certain manufacturing activities to pre-existing facilities and incurred charges to move inventory and equipment and exit selected supplier arrangements. During the fiscal year ended June 30, 2024, net restructuring costs of $43.4 million and $18.2 million were recorded in Restructuring charges, net - cost of goods sold, and Restructuring charges, net - operating expenses, respectively in the Consolidated Statements of Operations. During the fiscal year ended June 25, 2023, net restructuring costs of $78.2 million and $42.2 million were recorded in Restructuring charges, net - cost of goods sold, and Restructuring charges, net - operating expenses, respectively in the Consolidated Statements of Operations. The restructuring plan is substantially complete as of June 30, 2024, and cumulative costs as of June 30, 2024 total $181.9 million . The following table is a summary of the activity related to the restructuring plan: Severance and Benefits Other Total (in thousands) Restructuring liability as of June 26, 2022 $ — $ — $ — Restructuring expense 107,063 13,253 120,316 Cash payments (96,047) (12,378) (108,425) Non-cash activities (3,027) (629) (3,656) Restructuring liability as of June 25, 2023 $ 7,989 $ 246 $ 8,235 Restructuring expense 29,926 31,636 61,562 Cash payments (36,684) (24,045) (60,729) Non-cash activities (1,034) (6,941) (7,975) Restructuring liability as of June 30, 2024 $ 197 $ 896 $ 1,093

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Pay vs Performance Disclosure
Net income	$ 3,827,772	$ 4,510,931	$ 4,605,286

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	12 Months Ended
	Jun. 30, 2024 shares	Jun. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Seshasayee (Sesha) Varadarajan [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On May 29, 2024, Seshasayee (Sesha) Varadarajan, Senior Vice President, Global Products Group of the Company, adopted a Rule 10b5-1 Trading Arrangement. Mr. Varadarajan’s Rule 10b5-1 Trading Arrangement provides for: (i) the potential exercise of 3,576 stock options expiring on March 1, 2025, and the associated sale of up to 3,576 shares of the Company’s common stock resulting from such exercise, (ii) the potential exercise of 7,432 stock options expiring on March 1, 2026, and the associated sale of up to 7,432 shares of the Company’s common stock resulting from such exercise, and (iii) a gift of shares totaling approximately $150,000 on the date of execution. Mr. Varadarajan’s Rule 10b5-1 Trading Arrangement has a termination date of May 30, 2025.
Name	Seshasayee (Sesha) Varadarajan
Title	Senior Vice President
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 29, 2024
Expiration Date	May 30, 2025
Arrangement Duration	366 days
Seshasayee (Sesha) Varadarajan's Trading Arrangement, Common Stock Expiring On March 1, 2025 [Member] | Seshasayee (Sesha) Varadarajan [Member]
Trading Arrangements, by Individual
Aggregate Available	3,576	3,576
Seshasayee (Sesha) Varadarajan's Trading Arrangement, Common Stock Expiring On March 1, 2026 [Member] | Seshasayee (Sesha) Varadarajan [Member]
Trading Arrangements, by Individual
Aggregate Available	7,432	7,432

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Jun. 30, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Reclassification	Reclassification: Certain amounts for the fiscal years 2023 and 2022 Consolidated Balance Sheets and notes to the financial statements have been reclassified to conform to the fiscal year 2024 presentation.
Revenue Recognition	Revenue Recognition:
Inventory Valuation	Inventory Valuation: Inventories are stated at the lower of cost or net realizable value using standard costs that approximate actual costs on a first-in, first-out basis. Management evaluates the need to record adjustments for impairment of inventory at least quarterly. The Company’s policy is to assess the valuation of all inventories including manufacturing raw materials, work-in-process, finished goods, and spare parts in each reporting period. Inventory in excess of management’s estimated usage requirement and obsolete inventory is written down to its estimated net realizable value if less than cost. Estimates of net realizable value include but are not limited to management’s forecasts related to customer demand, the Company’s future manufacturing schedules, technological and/or market obsolescence, general semiconductor market conditions, and possible alternative uses. If future customer demand or market conditions are less favorable than the Company’s projections, additional inventory write-downs may be required and would be reflected in cost of goods sold in the period in which the revision is made.
Warranty	Warranty: Typically, the sale of semiconductor capital equipment includes providing parts and service warranties to customers as part of the overall price of the system. The Company provides standard warranties for its systems. The Company records a provision for estimated warranty expenses to cost of sales for each system when it recognizes revenue. The Company does not maintain general or unspecified reserves; all warranty reserves are related to specific systems. All actual or estimated parts and labor costs incurred in subsequent periods are charged to those established reserves on a system-by-system basis.
Equity-based Compensation — Employee Stock Plans	Equity-based Compensation — Employee Stock Plans: The Company recognizes the fair value of equity-based compensation expense. The Company determines the fair value of its RSUs, excluding market-based performance RSUs, based upon the fair market value of Company’s Common Stock at the date of grant, discounted for dividends. The Company estimates the fair value of its market-based performance RSUs using a Monte Carlo simulation model at the date of the grant. The Company estimates the fair value of its stock options using a Black-Scholes option valuation model. This model requires the input of subjective assumptions, including expected stock price volatility and the estimated life of each award. The Company amortizes the fair value of equity-based awards over the vesting periods of the award, and the Company has elected to use the straight-line method of amortization.
Income Taxes	Income Taxes: Deferred income taxes reflect the net tax effect of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as the tax effect of carryforwards. The Company records a valuation allowance to reduce its deferred tax assets to the amount that is more likely than not to be realized. Realization of its net deferred tax assets is dependent on future taxable income. The Company believes it is more likely than not that such assets will be realized; however, ultimate realization could be negatively impacted by market conditions and other variables not known or anticipated at this time. In the event that the Company determines that it will not be able to realize all or part of its net deferred tax assets, an adjustment will be charged to earnings in the period such determination is made. Likewise, if the Company later determines that it is more likely than not that the deferred tax assets will be realized, then the previously provided valuation allowance will be reversed. The Company recognizes the benefit from a tax position only if it is more likely than not that the position will be sustained upon audit based solely on the technical merits of the tax position. The Company’s policy is to include interest and penalties related to uncertain tax positions as a component of income tax expense.
Goodwill and Intangible Assets	Goodwill and Intangible Assets : The valuation of intangible assets acquired in a business combination requires the use of management estimates including but not limited to estimating future expected cash flows from assets acquired and determining discount rates. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable, and as a result, actual results may differ from estimates. Estimates associated with the accounting for acquisitions may change as additional information becomes available. The Company amortizes intangible assets with estimable useful lives over their respective estimated useful lives. Goodwill represents the amount by which the purchase price in each business combination exceeds the fair value of the net tangible and identifiable intangible assets acquired. Each component of the Company for which discrete financial information is available and for which management regularly reviews the results of operations is considered a reporting unit. All goodwill acquired in a business combination is assigned to one or more reporting units as of the acquisition date. Goodwill is assigned to the Company’s reporting units that are expected to benefit from the synergies of the combination. The goodwill assigned to a reporting unit is the difference between the acquisition consideration assigned to the reporting unit on a relative fair value basis and the fair value of acquired assets and liabilities that can be specifically attributed to the reporting unit.
Impairment of Long-lived Assets (Excluding Goodwill)	Impairment of Long-lived Assets (Excluding Goodwill):
Fiscal Year	Fiscal Year: The Company follows a 52/53-week fiscal reporting calendar, and its fiscal year ends on the last Sunday of June each year. The Company’s most recent fiscal year ended on June 30, 2024 and included 53 weeks, and the fiscal years ended June 25, 2023 and June 26, 2022 each included 52 weeks.
Principles of Consolidation	Principles of Consolidation: The Consolidated Financial Statements include the accounts of the Company and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Cash Equivalents and Investments	Cash Equivalents and Investments:
Allowance for Expected Credit Losses	Allowance for Expected Credit Losses:
Property and Equipment	Property and Equipment: Property and equipment is stated at cost, less recognized impairments, if any. Equipment is depreciated by the straight-line method over the estimated useful lives of the assets, generally three three
Derivative Financial Instruments	Derivative Financial Instruments: In the normal course of business, the Company’s financial position is routinely subjected to market risk associated with interest rate and foreign currency exchange rate fluctuations. The Company’s policy is to mitigate the effect of interest rate fluctuations on certain proposed debt instruments and exchange rate fluctuations on certain foreign currency denominated business exposures. The Company has a policy that allows the use of derivative financial instruments to hedge foreign currency exchange rate fluctuations on forecasted revenue and expenses and net monetary assets or liabilities denominated in various foreign currencies. The Company carries derivative financial instruments (derivatives) on the balance sheet at their fair values. The Company does not use derivatives for trading or speculative purposes. The Company does not believe that it is exposed to more than a nominal amount of credit risk in its interest rate and foreign currency hedges, as counterparties are large, global and well-capitalized financial institutions. The Company maintains an active currency hedging program and believes there is minimal risk that appropriate derivatives to maintain the Company’s hedging program would not be available in the future. To hedge foreign currency risks, the Company uses foreign currency exchange forward and option contracts, where possible and prudent. These hedge contracts are valued using standard valuation formulas with assumptions about future foreign currency exchange rates derived from existing exchange rates, interest rates, and other market factors. The Company considers its most current forecast in determining the level of foreign currency denominated revenue and expenses to hedge as cash flow hedges. The Company combines these forecasts with historical trends to establish the portion of its expected volume to be hedged. The revenue and expenses are hedged and designated as cash flow hedges to protect the Company from exposures to fluctuations in foreign currency exchange rates. If the underlying forecasted transaction does not occur, or it becomes probable that it will not occur, the related hedge gains and losses on the cash flow hedge are reclassified from Accumulated other comprehensive income (loss) to Other income (expense), net on the Consolidated Statement of Operations at that time.
Leases	Leases: Lease expense for operating leases is recognized on a straight-line basis over the lease term. The Company includes renewals and terminations in the calculation of the right-of-use asset and liability when the provision is reasonably certain to be exercised. The Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of future lease payments when the rate implicit in the lease is unknown. The Company has elected the following practical expedients and accounting policy elections for accounting under ASC 842: (i) leases with an initial lease term of 12 months or less are not recorded on the balance sheet; and (ii) lease and non-lease components of a contract are accounted for as a single lease component.
Guarantees	Guarantees: The Company’s guarantees generally include certain indemnifications to its lessors for environmental matters, potential overdraft protection obligations to financial institutions related to one of the Company’s subsidiaries, indemnifications to the Company’s customers for certain infringement of third-party intellectual property rights by its products and services, indemnifications for its officers and directors, and the Company’s warranty obligations under sales of its products.
Government Assistance	Government Assistance: For government grants, the Company recognizes a benefit in the Consolidated Statement of Operations, as a reduction to the expense for which the individual government grant (“Grant” or “Grants”) is designed to compensate, over the duration of the program when the Company has reasonable assurance that it will comply with the conditions under the Grant and that the Grant will be received. Grants related to investments in property and equipment are recognized as a reduction to the cost basis of the underlying assets with an ongoing reduction to depreciation expense over the assets’ estimated useful life. Operating-related grants are recorded as a reduction to expense in the same line item on the Consolidated Statements of Operation as the expenditure for which the incentive is intended to compensate.
Foreign Currency Translation	Foreign Currency Translation: The Company’s non-U.S. subsidiaries that operate in a local currency environment, where that local currency is the functional currency, primarily generate and expend cash in their local currency. Accordingly, all balance sheet accounts of these local functional currency subsidiaries are translated into U.S. dollars at the fiscal period-end exchange rate, and income and expense accounts are translated into U.S. dollars using average rates in effect for the period, except for costs related to those balance sheet items that are translated using historical exchange rates. The resulting translation adjustments are recorded as cumulative translation adjustments and are a component of Accumulated other comprehensive income (loss). Remeasurement adjustments are recorded in Other income (expense), net, where the U.S. dollar is the functional currency.
Recently Adopted or Effective and Updates Not Yet Effective	Recently Adopted or Effective The Company did not adopt any new accounting standards during fiscal year 2024 that had a material impact on the Company’s Consolidated Financial Statements. Updates Not Yet Effective In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which expands disclosures about a public entity’s reportable segments and requires more enhanced information about a reportable segment’s expenses, interim segment profit or loss, and how a public entity’s chief operating decision maker uses reported segment profit or loss information in assessing segment performance and allocating resources. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is required to adopt this standard in the fiscal year 2025 for the annual reporting period ending June 29, 2025, with retrospective disclosure of prior periods presented. The Company is currently in the process of evaluating the impact of adoption on its Consolidated Financial Statements.

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table presents the Company’s revenue disaggregated between systems and customer-support related revenue: Year Ended June 30, June 25, June 26, (in thousands) Systems Revenue $ 8,921,643 $ 10,695,897 $ 11,322,271 Customer support-related revenue and other 5,983,743 6,732,619 5,904,768 $ 14,905,386 $ 17,428,516 $ 17,227,039
Schedule of System Revenues of Primary Markets	The following table presents the percentages of leading- and non-leading-edge equipment and upgrade revenue to each of the primary markets the Company serves: Year Ended June 30, June 25, June 26, Memory 42 % 42 % 60 % Foundry 40 % 38 % 26 % Logic/integrated device manufacturing 18 % 20 % 14 %
Schedule of Contract Transaction Price not yet Recognized as Revenue	The following table summarizes the transaction price for contracts that have not yet been recognized as revenue as of June 30, 2024 and when the Company expects to recognize the amounts as revenue: Less than 1 Year 1-3 Years More than 3 Years Total (in thousands) Deferred revenue $ 1,152,155 $ 353,617 (1) $ 45,824 (1) $ 1,551,596 (1) This amount is reported in Deferred profit on the Company's Consolidated Balance Sheets as the customers can demand the performance to be satisfied at any time.

Equity-based Compensation Plan

Equity-based Compensation Plan (Tables)	12 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Recognized Equity Based Compensation Expenses and Benefits	The Company recognized the following equity-based compensation expense (including expense related to the employee stock purchase plan) and related income tax benefit in the Consolidated Statements of Operations: Year Ended June 30, June 25, June 26, (in thousands) Equity-based compensation expense $ 293,058 $ 286,600 $ 259,064 Income tax benefit recognized related to equity-based compensation $ 38,157 $ 25,794 $ 37,466 Income tax benefit realized from the exercise and vesting of options and RSUs $ 75,441 $ 46,495 $ 72,564
Schedule of Stock Plan Transactions	The following table summarizes the Company’s combined service-based RSUs and market-based PRSUs: Number of Weighted-Average Outstanding, June 25, 2023 1,078 $ 498.79 Granted 365 941.04 Vested (462) 525.14 Forfeited or canceled (58) 526.10 Outstanding, June 30, 2024 923 $ 655.89

Other Income (Expense), Net (Ta

Other Income (Expense), Net (Tables)	12 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Schedule of Components of Other Income (Expense), Net	The significant components of Other income (expense), net, were as follows: Year Ended June 30, June 25, June 26, (in thousands) Interest income $ 251,938 $ 138,984 $ 15,209 Interest expense (185,236) (186,462) (184,759) Gains (losses) on deferred compensation plan related assets, net 58,767 20,186 (38,053) Foreign exchange losses, net (4,837) (7,078) (723) Other, net (24,323) (31,280) 19,618 $ 96,309 $ (65,650) $ (188,708)

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Components of Income (Loss) Before Income Taxes	The components of income before income taxes were as follows: Year Ended June 30, June 25, June 26, (in thousands) United States $ 282,736 $ 151,759 $ 87,933 Foreign 4,077,486 4,957,451 5,105,181 $ 4,360,222 $ 5,109,210 $ 5,193,114
Schedule of Components of Provision (Benefit) for Income Taxes	Significant components of the provision (benefit) for income taxes attributable to income before income taxes were as follows: Year Ended June 30, June 25, June 26, (in thousands) Federal: Current $ 566,106 $ 541,416 $ 620,344 Deferred (186,238) (136,178) (226,895) 379,868 405,238 393,449 State: Current 20,081 32,082 20,759 Deferred (15,118) (2,813) (19,096) 4,963 29,269 1,663 Foreign: Current 143,595 196,842 204,163 Deferred 4,024 (33,070) (11,447) 147,619 163,772 192,716 Total provision for income taxes $ 532,450 $ 598,279 $ 587,828 The Company’s remaining obligation related to this arrangement as of June 30, 2024, were as follows: Payments Due by Fiscal Year (1) : Transition Tax (in thousands) 2025 $ 183,710 2026 229,638 Total $ 413,348 (1) The Company may choose to apply existing tax credits, thereby reducing the actual cash payment.
Schedule of Components of Net Deferred Tax Assets and Liabilities	Significant components of the Company’s net deferred tax assets and liabilities were as follows: June 30, June 25, (in thousands) Deferred tax assets: Tax carryforwards $ 396,036 $ 359,505 Allowances and reserves 189,429 192,374 Equity-based compensation 9,981 9,600 Inventory valuation differences 64,135 57,675 Outside basis differences of foreign subsidiaries 680,598 527,139 R&D capitalization 75,196 36,618 Operating lease liabilities 57,972 50,867 Finance lease assets — 32,905 Intangible assets 4,908 4,108 Other 37,878 31,773 Gross deferred tax assets 1,516,133 1,302,564 Valuation allowance (389,315) (352,377) Net deferred tax assets 1,126,818 950,187 Deferred tax liabilities: Capital assets (142,963) (121,948) Amortization of goodwill (11,287) (12,515) Right-of-use assets (57,337) (50,867) Finance lease liabilities — (50,534) Other (6,596) (1,974) Gross deferred tax liabilities (218,183) (237,838) Net deferred tax assets $ 908,635 $ 712,349
Schedule of Reconciliation of Income Tax Expense Provided at Federal Statutory Rate to Actual Income Tax Expense	A reconciliation of income tax expense provided at the federal statutory rate (21% in fiscal years 2024, 2023, and 2022) to actual income tax expense is as follows: Year Ended June 30, June 25, June 26, (in thousands) Income tax expense computed at federal statutory rate $ 915,647 $ 1,072,934 $ 1,096,692 State income taxes, net of federal tax benefit (37,965) (23,252) (35,584) Foreign income taxed at different rates (313,795) (430,314) (407,989) Settlements and reductions in uncertain tax positions (18,947) (28,968) (51,227) Tax credits (125,523) (103,019) (96,440) State valuation allowance, net of federal tax benefit 44,916 49,073 43,502 Equity-based compensation (11,296) 15,816 (13,168) Increases in uncertain tax positions 62,333 34,661 35,148 Other permanent differences and miscellaneous items 17,080 11,348 16,894 $ 532,450 $ 598,279 $ 587,828
Schedule of Changes in Balance of Gross Unrecognized Tax Benefits	The aggregate changes in the balance of gross uncertain tax positions were as follows: (in thousands) Balance as of June 27, 2021 $ 566,771 Settlements and effective settlements with tax authorities (14,440) Lapse of statute of limitations (8,021) Increases in balances related to tax positions taken during prior periods 6,468 Decreases in balances related to tax positions taken during prior periods (28,376) Increases in balances related to tax positions taken during current period 94,971 Balance as of June 26, 2022 617,373 Settlements and effective settlements with tax authorities (50,238) Lapse of statute of limitations (22,103) Increases in balances related to tax positions taken during prior periods 5,841 Decreases in balances related to tax positions taken during prior periods (4,316) Increases in balances related to tax positions taken during current period 93,615 Balance as of June 25, 2023 640,172 Settlements and effective settlements with tax authorities (9,548) Lapse of statute of limitations (10,114) Decreases in balances related to tax positions taken during prior periods (12,326) Increases in balances related to tax positions taken during current period 115,600 Balance as of June 30, 2024 $ 723,784

Net Income per Share (Tables)

Net Income per Share (Tables)	12 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Reconciliation of Inputs to Basic and Diluted Computations of Net Income Per Share	The following table reconciles the inputs to the basic and diluted computations for net income per share. Year Ended June 30, June 25, June 26, (in thousands, except per share data) Numerator: Net income $ 3,827,772 $ 4,510,931 $ 4,605,286 Denominator: Basic average shares outstanding 131,410 135,472 139,899 Effect of potential dilutive securities: Employee stock plans 585 362 729 Diluted average shares outstanding 131,995 135,834 140,628 Net income per share - basic $ 29.13 $ 33.30 $ 32.92 Net income per share - diluted $ 29.00 $ 33.21 $ 32.75

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Cash, Cash Equivalents, Investments, and Other Assets Measured at Fair Value on Recurring Basis	The financial instruments reported within Cash and cash equivalents in the Company’s Consolidated Balance Sheets as of June 30, 2024, and June 25, 2023 consisted of the following: June 30, June 25, (in thousands) Money market funds (fair value measured on a recurring basis, level 1) $ 2,543,462 $ 2,223,642 Cash 1,568,315 2,132,522 Time deposits 1,736,079 980,892 Total $ 5,847,856 $ 5,337,056

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consist of the following: June 30, June 25, (in thousands) Raw materials $ 2,921,139 $ 3,196,988 Work-in-process 284,078 325,611 Finished goods 1,012,707 1,293,591 $ 4,217,924 $ 4,816,190

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net, is presented in the table below. June 30, June 25, (in thousands) Manufacturing and engineering equipment $ 1,956,478 $ 1,802,627 Buildings and improvements 1,605,802 1,286,849 Computer and computer-related equipment 178,941 174,084 Land 163,796 98,739 Office equipment, furniture and fixtures 85,629 83,108 3,990,646 3,445,407 Less: accumulated depreciation and amortization (1,860,664) (1,642,456) $ 2,129,982 $ 1,802,951

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets, Other Than Goodwill	The following table provides details of the Company’s intangible assets, other than goodwill: June 30, 2024 June 25, 2023 Gross Accumulated Net Gross Accumulated Net (in thousands) Customer relationships $ 644,128 $ (633,740) $ 10,388 $ 644,138 $ (631,420) $ 12,718 Existing technology 747,390 (686,460) 60,930 717,331 (674,549) 42,782 Patents and other intangible assets 208,052 (140,825) 67,227 199,532 (116,659) 82,873 Intangible assets subject to amortization 1,599,570 (1,461,025) 138,545 1,561,001 (1,422,628) 138,373 In process research and development — — — 30,081 — 30,081 Total intangible assets $ 1,599,570 $ (1,461,025) $ 138,545 $ 1,591,082 $ (1,422,628) $ 168,454
Schedule of Estimated Future Amortization Expense of Intangible Assets	The estimated future amortization expense of intangible assets as of June 30, 2024, is reflected in the table below. The table excludes $13.2 million of capitalized costs for intangible assets that have not yet been placed into service. Fiscal Year Amount (in thousands) 2025 $ 42,485 2026 28,010 2027 18,417 2028 14,446 2029 11,673 Thereafter 10,317 $ 125,348

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	12 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: June 30, June 25, (in thousands) Accrued compensation $ 516,717 $ 481,354 Warranty reserves 228,060 256,781 Income and other taxes payable 186,700 460,630 Dividend payable 260,905 231,267 Restructuring 607 8,014 Other 608,888 572,591 $ 1,801,877 $ 2,010,637

Long Term Debt and Other Borr_2

Long Term Debt and Other Borrowings (Tables)	12 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Outstanding Debt	As of June 30, 2024, and June 25, 2023, the Company’s outstanding debt consisted of the following: June 30, 2024 June 25, 2023 Amount Effective Interest Rate Amount Effective Interest Rate Fixed-rate 3.80% Senior Notes Due March 15, 2025 (“2025 Notes”) $ 500,000 3.87 % $ 500,000 3.87 % Fixed-rate 3.75% Senior Notes Due March 15, 2026 ("2026 Notes") 750,000 3.86 % 750,000 3.86 % Fixed-rate 4.00% Senior Notes Due March 15, 2029 ("2029 Notes") 1,000,000 4.09 % 1,000,000 4.09 % Fixed-rate 1.90% Senior Note Due June 15, 2030 ("2030 Notes") 750,000 2.01 % 750,000 2.01 % Fixed-rate 4.875% Senior Notes Due March 15, 2049 ("2049 Notes") 750,000 4.93 % 750,000 4.93 % Fixed-rate 2.875% Senior Note Due June 15, 2050 ("2050 Notes") 750,000 2.93 % 750,000 2.93 % Fixed-rate 3.125% Senior Note Due June 15, 2060 ("2060 Notes") 500,000 3.18 % 500,000 3.18 % Total Senior Notes outstanding, at par 5,000,000 5,000,000 Unamortized discount (28,148) (32,934) Fair value adjustment - interest rate contracts — 3,050 (1) Unamortized bond issuance costs (5,435) (6,189) Other financing arrangements 944 1,438 Total debt outstanding, at carrying value $ 4,967,361 $ 4,965,365 Reported as: Current portion of long-term debt $ 501,316 $ 421 Long-term debt $ 4,466,045 $ 4,964,944 (1) This amount represents a cumulative fair value gain for discontinued hedging relationships, net of an immaterial amount of amortization as of the periods presented.
Schedule of Contractual Cash Obligations	The Company’s contractual cash obligations relating to its outstanding debt as of June 30, 2024, were as follows: Payments Due by Fiscal Year: Principal Interest (in thousands) 2025 $ 500,000 $ 169,583 2026 750,000 147,922 2027 — 128,000 2028 — 128,000 2029 1,000,000 116,333 Thereafter 2,750,000 1,669,880 Total $ 5,000,000 $ 2,359,718
Schedule of Additional Senior Notes Information	Selected additional information regarding the Senior Notes outstanding as of June 30, 2024, is as follows: Remaining Amortization period Fair Value of Notes (Level 2) (years) (in thousands) 2025 Notes 0.7 $ 494,015 2026 Notes 1.7 $ 731,970 2029 Notes 4.7 $ 961,560 2030 Notes 6.0 $ 632,880 2049 Notes 24.7 $ 685,553 2050 Notes 26.0 $ 488,130 2060 Notes 36.0 $ 317,660
Schedule of Recognized Interest Cost	The following table presents the amount of interest cost recognized relating to both the contractual interest coupon and amortization of the debt discount, issuance costs, and effective portion of interest rate contracts with respect to the Senior Notes, and the revolving credit facility during the fiscal years ended June 30, 2024, June 25, 2023, and June 26, 2022. Year Ended June 30, June 25, June 26, (in thousands) Contractual interest coupon $ 175,128 $ 175,128 $ 175,128 Amortization of interest discount 3,274 2,862 2,767 Amortization of issuance costs 1,488 1,376 1,351 Effect of interest rate contracts, net 3,145 2,545 2,455 Total interest cost recognized $ 183,035 $ 181,911 $ 181,701

Leases (Tables)

Leases (Tables)	12 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Components of Lease Expense	The components of lease expense were as follows for the years ended June 30, 2024, June 25, 2023, and June 26, 2022: Year Ended June 30, June 25, June 26, (in thousands) Financing lease cost: Amortization of right-of-use assets $ 5,175 $ 7,899 $ 7,439 Interest on lease liabilities 756 863 658 Total finance lease cost $ 5,931 $ 8,762 $ 8,097 Operating lease cost $ 83,476 $ 75,660 $ 69,250 Variable lease cost 176,641 227,726 259,041
Schedule of Supplemental Cash Flow Information	Supplemental cash flow information related to leases was as follows as of June 30, 2024, June 25, 2023, and June 26, 2022: Year Ended June 30, June 25, June 26, (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows paid for operating leases $ 97,447 $ 74,397 $ 64,808 Financing cash flows paid for principal portion of finance leases 255,695 14,985 11,513 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 146,169 $ 91,592 $ 121,580 Finance leases 226,519 20,161 13,868 June 30, 2024 June 25, 2023 Weighted-Average Remaining Lease Term Weighted-Average Discount Rate Weighted-Average Remaining Lease Term Weighted-Average Discount Rate (in years) (in years) Operating leases 4.9 3.54 % 4.9 3.80 % Finance leases 5.8 3.39 % 5.2 2.56 %
Schedule of Supplemental Balance Sheet Information	Supplemental balance sheet information related to leases was as follows as of June 30, 2024 and June 25, 2023: June 30, June 25, (in thousands) Operating leases Other assets $ 308,336 $ 242,656 Accrued expenses and other current liabilities $ 64,443 $ 64,682 Other long-term liabilities 223,273 172,886 Total operating lease liabilities $ 287,716 $ 237,568 Finance Leases Property and Equipment, net $ 24,536 $ 53,721 Current portion of long-term debt and lease liabilities $ 3,498 $ 7,937 Long-term debt and lease liabilities, less current portion 12,475 38,239 Total finance lease liabilities $ 15,973 $ 46,176
Schedule of Maturities of Operating Lease Liabilities	As of June 30, 2024, the maturities of lease liabilities are as follows: Operating Leases Finance Leases (in thousands) 2025 $ 72,326 $ 3,942 2026 61,810 3,239 2027 48,115 2,840 2028 45,898 2,211 2029 46,964 1,779 Thereafter 42,754 3,475 Total lease payments $ 317,867 $ 17,486 Less imputed interest (30,151) (1,513) Total $ 287,716 $ 15,973
Schedule of Maturities of Finance Lease Liabilities	As of June 30, 2024, the maturities of lease liabilities are as follows: Operating Leases Finance Leases (in thousands) 2025 $ 72,326 $ 3,942 2026 61,810 3,239 2027 48,115 2,840 2028 45,898 2,211 2029 46,964 1,779 Thereafter 42,754 3,475 Total lease payments $ 317,867 $ 17,486 Less imputed interest (30,151) (1,513) Total $ 287,716 $ 15,973

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Purchase Commitments	The Company’s commitments related to these agreements as of June 30, 2024, were as follows: Payments Due by Fiscal Year: Purchase (in thousands) 2025 $ 816,752 2026 29,784 2027 4,508 2028 4,786 2029 3,679 Thereafter 3,113 Purchase obligations for which timing of payment is indeterminable 64,061 Total $ 926,683
Schedule of Transition Tax Liability	Significant components of the provision (benefit) for income taxes attributable to income before income taxes were as follows: Year Ended June 30, June 25, June 26, (in thousands) Federal: Current $ 566,106 $ 541,416 $ 620,344 Deferred (186,238) (136,178) (226,895) 379,868 405,238 393,449 State: Current 20,081 32,082 20,759 Deferred (15,118) (2,813) (19,096) 4,963 29,269 1,663 Foreign: Current 143,595 196,842 204,163 Deferred 4,024 (33,070) (11,447) 147,619 163,772 192,716 Total provision for income taxes $ 532,450 $ 598,279 $ 587,828 The Company’s remaining obligation related to this arrangement as of June 30, 2024, were as follows: Payments Due by Fiscal Year (1) : Transition Tax (in thousands) 2025 $ 183,710 2026 229,638 Total $ 413,348 (1) The Company may choose to apply existing tax credits, thereby reducing the actual cash payment.
Schedule of Changes in Product Warranty Reserves	Changes in the Company’s product warranty reserves were as follows: Year Ended June 30, June 25, (in thousands) Balance at beginning of period $ 286,663 $ 256,258 Warranties issued during the period 193,829 272,281 Settlements made during the period (189,213) (240,841) Changes in liability for warranties issued during the period (155) (14,270) Changes in liability for pre-existing warranties (40,720) 13,235 Balance at end of period $ 250,404 $ 286,663

Stock Repurchase Program (Table

Stock Repurchase Program (Tables)	12 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Repurchases Under Repurchase Program	Repurchases under the repurchase program were as follows during the periods indicated: Period Total Number Total Cost of Repurchase (3) Average (1,3) Amount Available (in thousands, except per share data) Available balance as of June 25, 2023 $ 3,537,217 Quarter ended September 24, 2023 1,257 $ 829,874 $ 660.01 $ 2,707,343 Quarter ended December 24, 2023 970 $ 640,267 $ 660.04 $ 2,067,076 Quarter ended March 31, 2024 828 (2) $ 860,084 $ 774.77 $ 1,206,992 Board authorization, $10 billion increase, May 2024 $ 11,206,992 Quarter ended June 30, 2024 525 (2) $ 382,332 $ 993.91 $ 10,824,660 (1) Average price paid per share excludes the effect of accelerated share repurchase activities. See additional disclosure below regarding the Company’s accelerated share repurchase activity during the fiscal year. (2) Includes shares received at initial or final settlement of accelerated share repurchase agreements; see additional disclosures below regarding the Company’s accelerated share repurchase activity during the fiscal year. (3) The Company’s net share repurchases are subject to a 1% excise tax under the Inflation Reduction Act. Excise tax incurred reduces the amount available under the repurchase program, as applicable, and is included in the cost of shares repurchased in the Consolidated Statement of Stockholders’ Equity and the calculation of the average price paid per share.

Segment, Geographic Informati_2

Segment, Geographic Information and Major Customers (Tables)	12 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Revenues and Long-lived Assets by Geographic Region	Revenues and long-lived assets by geographic region were as follows: Year Ended June 30, June 25, June 26, Revenue: (in thousands) China $ 6,293,990 $ 4,462,663 $ 5,411,502 Korea 2,874,015 3,551,742 4,037,467 Taiwan 1,671,815 3,477,862 2,936,482 Japan 1,460,429 1,758,364 1,624,573 United States 1,104,087 1,665,136 1,147,346 Southeast Asia 794,054 1,354,471 1,357,648 Europe 706,996 1,158,278 712,021 Total revenue $ 14,905,386 $ 17,428,516 $ 17,227,039 June 30, June 25, June 26, Long-lived assets: (in thousands) United States $ 1,582,103 $ 1,367,534 $ 1,276,274 Southeast Asia 390,514 339,415 248,029 Korea 262,405 215,898 183,809 Europe 115,316 93,732 77,658 Taiwan 98,268 65,432 72,845 Japan 7,858 8,452 8,406 China 6,390 8,865 7,214 $ 2,462,854 $ 2,099,328 $ 1,874,235

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Preliminary Fair Value Estimates of Identifiable Intangible Assets	The following table is a summary of the fair value estimates of the identifiable intangible assets and their useful lives: Weighted-Average Useful Life Estimated Purchase Date Fair Value (in thousands) Existing technology 7 years $ 40,294 Customer relationships 8 years 10,835 In process research and development Indefinite 30,081 $ 81,210

Restructuring Charges, Net (Tab

Restructuring Charges, Net (Tables)	12 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Plan	The following table is a summary of the activity related to the restructuring plan: Severance and Benefits Other Total (in thousands) Restructuring liability as of June 26, 2022 $ — $ — $ — Restructuring expense 107,063 13,253 120,316 Cash payments (96,047) (12,378) (108,425) Non-cash activities (3,027) (629) (3,656) Restructuring liability as of June 25, 2023 $ 7,989 $ 246 $ 8,235 Restructuring expense 29,926 31,636 61,562 Cash payments (36,684) (24,045) (60,729) Non-cash activities (1,034) (6,941) (7,975) Restructuring liability as of June 30, 2024 $ 197 $ 896 $ 1,093

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Property, Plant and Equipment [Line Items]
Performance obligations and timing of payment	Customer invoices are generally due within 30 to 90 days after issuance. The Company’s contracts with customers typically do not include significant financing components as the period between the transfer of performance obligations and timing of payment are generally within one year.
Impairments of goodwill	$ 0	$ 0	$ 0
Impairment of long-lived assets	$ 0	$ 0	$ 0
Equipment | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Equipment | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Software | Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Software | Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Buildings
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	25 years

Revenue - Revenues Disaggregate

Revenue - Revenues Disaggregated by Geographic Region and Primary Markets (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 14,905,386	$ 17,428,516	$ 17,227,039
Systems Revenue
Disaggregation of Revenue [Line Items]
Revenue	8,921,643	10,695,897	11,322,271
Customer support-related revenue and other
Disaggregation of Revenue [Line Items]
Revenue	$ 5,983,743	$ 6,732,619	$ 5,904,768

Revenue - Narrative (Details)

Revenue - Narrative (Details) $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($) segment primary_market	Jun. 25, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Number of reportable business segment | segment	1
Number of primary markets | primary_market	3
Revenue recognized	$ 1,506.6
Revenue recognized percentage	82%
Deferred revenue		$ 1,837.9

Revenue - Schedule of System Re

Revenue - Schedule of System Revenues of Primary Markets (Details) - Systems Revenue - Revenue Benchmark	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Memory
Concentration Risk [Line Items]
Concentration by percent	42%	42%	60%
Foundry
Concentration Risk [Line Items]
Concentration by percent	40%	38%	26%
Logic/integrated device manufacturing
Concentration Risk [Line Items]
Concentration by percent	18%	20%	14%

Revenue - Schedule of Contract

Revenue - Schedule of Contract Transaction Price not yet Recognized as Revenue (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 1,551,596
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 1,152,155
Deferred revenue, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-06-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 353,617
Deferred revenue, expected timing of satisfaction	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-06-28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue	$ 45,824
Deferred revenue, expected timing of satisfaction

Equity-based Compensation Pla_2

Equity-based Compensation Plan - Narrative (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Jun. 30, 2024 USD ($) purchaseDate day $ / shares shares	Jun. 25, 2023 USD ($) $ / shares shares	Jun. 26, 2022 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)	139,000
Weighted-average exercise price options outstanding (usd per share) | $ / shares	$ 541.10
Exercisable options outstanding (in shares)	75,000
Weighted-average exercise price options exercisable (usd per share) | $ / shares	$ 382.13
Total unrecognized compensation expense | $	$ 16.3
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	923,000	1,078,000
Vested (usd per share) | $ / shares	$ 525.14
Weighted average grant date fair value (usd per share) | $	$ 242.8	$ 224.4	$ 195.1
Unrecognized compensation expense | $	$ 480.5
Weighted average remaining period for recognition	2 years 2 months 12 days
Service-Based RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Shares outstanding (in shares)	749,000
Market-Based PRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Stock price performance measurement period | day	50
Percentage increase in market-based PRSUs from target	2%
Percentage increase in common stock price exceeding market price performance	1%
Shares outstanding (in shares)	174,000
Vested (usd per share) | $ / shares	$ 1,027.74	$ 466.19	$ 488.68
Market-Based PRSUs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock to be issued, vesting percentage	0%
Market-Based PRSUs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock to be issued, vesting percentage	150%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Weighted average remaining period for recognition	2 years 3 months 18 days
Maximum contractual term	7 years	7 years	7 years
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)	5,100,000
Unrecognized compensation expense | $	$ 15.7
Weighted average remaining period for recognition	6 months
Purchase price per share, percent	85%
Offering period	12 months
Number of interim purchase date | purchaseDate	1
Shares sold to employees (in shares)	280,000
2015 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuance (in shares)	19,232,068
Shares available for grant (in shares)	6,891,996

Equity-based Compensation Pla_3

Equity-based Compensation Plan - Recognized Equity Based Compensation Expenses and Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Share-Based Payment Arrangement [Abstract]
Equity-based compensation expense	$ 293,058	$ 286,600	$ 259,064
Income tax benefit recognized related to equity-based compensation	38,157	25,794	37,466
Income tax benefit realized from the exercise and vesting of options and RSUs	$ 75,441	$ 46,495	$ 72,564

Equity-based Compensation Pla_4

Equity-based Compensation Plan - Schedule of Stock Plan Activity (Details) - RSUs shares in Thousands	12 Months Ended
	Jun. 30, 2024 $ / shares shares
Number of Shares (in thousands)
Beginning balance (in shares) | shares	1,078
Granted (in shares) | shares	365
Vested (in shares) | shares	(462)
Forfeited or canceled (in shares) | shares	(58)
Ending balance (in shares) | shares	923
Weighted-Average Grant Date Fair Value
Beginning balance (usd per share) | $ / shares	$ 498.79
Granted (usd per share) | $ / shares	941.04
Vested (usd per share) | $ / shares	525.14
Forfeited or canceled (usd per share) | $ / shares	526.10
Ending balance (usd per share) | $ / shares	$ 655.89

Other Income (Expense), Net - S

Other Income (Expense), Net - Significant Components of Income (Expense), Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Other Income and Expenses [Abstract]
Interest income	$ 251,938	$ 138,984	$ 15,209
Interest expense	(185,236)	(186,462)	(184,759)
Gains (losses) on deferred compensation plan related assets, net	58,767	20,186	(38,053)
Foreign exchange losses, net	(4,837)	(7,078)	(723)
Other, net	(24,323)	(31,280)	19,618
Other income (expense), net	$ 96,309	$ (65,650)	$ (188,708)

Income Taxes - Income (Loss) Be

Income Taxes - Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Income Tax Disclosure [Abstract]
United States	$ 282,736	$ 151,759	$ 87,933
Foreign	4,077,486	4,957,451	5,105,181
Income before income taxes	$ 4,360,222	$ 5,109,210	$ 5,193,114

Income Taxes - Provision (Benef

Income Taxes - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Federal:
Current	$ 566,106	$ 541,416	$ 620,344
Deferred	(186,238)	(136,178)	(226,895)
Federal Tax Provision (Benefit)	379,868	405,238	393,449
State:
Current	20,081	32,082	20,759
Deferred	(15,118)	(2,813)	(19,096)
State Tax Provision (Benefit)	4,963	29,269	1,663
Foreign:
Current	143,595	196,842	204,163
Deferred	4,024	(33,070)	(11,447)
Foreign Tax Provision (Benefit)	147,619	163,772	192,716
Total provision for income taxes	$ 532,450	$ 598,279	$ 587,828

Income Taxes - Components of Ne

Income Taxes - Components of Net Deferred Tax Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 25, 2023
Deferred tax assets:
Tax carryforwards	$ 396,036	$ 359,505
Allowances and reserves	189,429	192,374
Equity-based compensation	9,981	9,600
Inventory valuation differences	64,135	57,675
Outside basis differences of foreign subsidiaries	680,598	527,139
R&D capitalization	75,196	36,618
Operating lease liabilities	57,972	50,867
Finance lease assets	0	32,905
Intangible assets	4,908	4,108
Other	37,878	31,773
Gross deferred tax assets	1,516,133	1,302,564
Valuation allowance	(389,315)	(352,377)
Net deferred tax assets	1,126,818	950,187
Deferred tax liabilities:
Capital assets	(142,963)	(121,948)
Amortization of goodwill	(11,287)	(12,515)
Right-of-use assets	(57,337)	(50,867)
Finance lease liabilities	0	(50,534)
Other	(6,596)	(1,974)
Gross deferred tax liabilities	(218,183)	(237,838)
Net deferred tax assets	$ 908,635	$ 712,349

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022	Jun. 27, 2021
Income Taxes [Line Items]
Valuation allowance for deferred tax assets	$ 389,315	$ 352,377
U.S. federal statutory tax rate (as a percent)	21%	21%	21%
Decreased in worldwide taxes	$ 416,300	$ 576,000	$ 574,700
Incentive on diluted earnings (usd per share)	$ 3.15	$ 4.24	$ 4.09
Unremitted earnings of foreign subsidiaries	$ 1,100,000
Withholding taxes on unremitted foreign earning	130,800
Tax expense of withholding taxes on unremitted foreign earning	104,700
Unrecognized tax benefits	723,784	$ 640,172	$ 617,373	$ 566,771
Increase in unrecognized tax benefits	83,600
Unrecognized tax benefits that would impact effective tax rate	622,600	550,100	539,600
Gross interest and penalties, relating to unrecognized tax benefits accrued	105,700	$ 74,400	$ 61,200
Lapses of statutes of limitation
Income Taxes [Line Items]
Estimated unrecognized tax benefits reduction	212,200
Federal
Income Taxes [Line Items]
Net operating loss carry-forwards	7,500
State
Income Taxes [Line Items]
Net operating loss carry-forwards	119,100
Federal and state tax credit carry forward	587,500
Foreign
Income Taxes [Line Items]
Net operating loss carry-forwards	23,200
California
Income Taxes [Line Items]
Valuation allowance for deferred tax assets	$ 389,300
Malaysia
Income Taxes [Line Items]
Tax incentive term			15 years

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Income Tax Expense Provided at Federal Statutory Rate to Actual Income Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Income Tax Disclosure [Abstract]
Income tax expense computed at federal statutory rate	$ 915,647	$ 1,072,934	$ 1,096,692
State income taxes, net of federal tax benefit	(37,965)	(23,252)	(35,584)
Foreign income taxed at different rates	(313,795)	(430,314)	(407,989)
Settlements and reductions in uncertain tax positions	(18,947)	(28,968)	(51,227)
Tax credits	(125,523)	(103,019)	(96,440)
State valuation allowance, net of federal tax benefit	44,916	49,073	43,502
Equity-based compensation	(11,296)	15,816	(13,168)
Increases in uncertain tax positions	62,333	34,661	35,148
Other permanent differences and miscellaneous items	17,080	11,348	16,894
Total provision for income taxes	$ 532,450	$ 598,279	$ 587,828

Income Taxes - Changes in Balan

Income Taxes - Changes in Balance of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Schedule of Changes in Balance of Gross Unrecognized Tax Benefits
Beginning balance	$ 640,172	$ 617,373	$ 566,771
Settlements and effective settlements with tax authorities	(9,548)	(50,238)	(14,440)
Lapse of statute of limitations	(10,114)	(22,103)	(8,021)
Increases in balances related to tax positions taken during prior periods		5,841	6,468
Decreases in balances related to tax positions taken during prior periods	(12,326)	(4,316)	(28,376)
Increases in balances related to tax positions taken during current period	115,600	93,615	94,971
Ending balance	$ 723,784	$ 640,172	$ 617,373

Net Income per Share - Reconcil

Net Income per Share - Reconciliation of Inputs to Basic and Diluted Computations of Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Numerator:
Net income	$ 3,827,772	$ 4,510,931	$ 4,605,286
Denominator:
Basic average shares outstanding	131,410	135,472	139,899
Effect of potential dilutive securities:
Employee stock plans (in shares)	585	362	729
Diluted average shares outstanding (in shares)	131,995	135,834	140,628
Net income per share - basic (usd per share)	$ 29.13	$ 33.30	$ 32.92
Net income per share - diluted (usd per share)	$ 29	$ 33.21	$ 32.75

Financial Instruments - Schedul

Financial Instruments - Schedule of Cash, Cash Equivalents, Investments, and Other Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 25, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial instruments	$ 5,847,856	$ 5,337,056
Money market funds (fair value measured on a recurring basis, level 1)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial instruments	2,543,462	2,223,642
Cash
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial instruments	1,568,315	2,132,522
Time deposits
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial instruments	$ 1,736,079	$ 980,892

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
		Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Financial Instruments [Line Items]
Financial instruments		$ 5,847,856	$ 5,337,056
Restricted cash and cash equivalents	[1]	$ 2,947	$ 250,316	$ 251,534
Accounts Receivable | Customer Concentration Risk | Customer 1
Financial Instruments [Line Items]
Concentration by percent		16%	32%
Accounts Receivable | Customer Concentration Risk | Customer 2
Financial Instruments [Line Items]
Concentration by percent		13%	13%
Accounts Receivable | Customer Concentration Risk | Customer 3
Financial Instruments [Line Items]
Concentration by percent		13%	10%
Foreign Exchange Contracts | Forward Contracts | Buy Contracts | Designated for Hedge Accounting Treatment
Financial Instruments [Line Items]
Notional value		$ 307,300
Foreign Exchange Contracts | Forward Contracts | Buy Contracts | Not Designated for Hedge Accounting Treatment
Financial Instruments [Line Items]
Notional value		366,900
Foreign Exchange Contracts | Forward Contracts | Sell Contracts | Designated for Hedge Accounting Treatment
Financial Instruments [Line Items]
Notional value		136,500
Foreign Exchange Contracts | Forward Contracts | Sell Contracts | Not Designated for Hedge Accounting Treatment
Financial Instruments [Line Items]
Notional value		$ 238,200
Cash Flow Hedging
Financial Instruments [Line Items]
Reclassification from other comprehensive income to earnings, period		12 months
Cash Flow Hedging | Minimum
Financial Instruments [Line Items]
Foreign currency forward contract, expiration period		12 months
Cash Flow Hedging | Maximum
Financial Instruments [Line Items]
Foreign currency forward contract, expiration period		24 months
Time Deposits
Financial Instruments [Line Items]
Financial instruments		$ 1,736,079	$ 980,892
Restricted cash and cash equivalents			$ 250,000
[1]Restricted cash is reported within Other assets in the Consolidated Balance Sheets

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 25, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 2,921,139	$ 3,196,988
Work-in-process	284,078	325,611
Finished goods	1,012,707	1,293,591
Total inventories	$ 4,217,924	$ 4,816,190

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 25, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,990,646	$ 3,445,407
Less: accumulated depreciation and amortization	(1,860,664)	(1,642,456)
Property and equipment, net	2,129,982	1,802,951
Manufacturing and engineering equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,956,478	1,802,627
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,605,802	1,286,849
Computer and computer-related equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	178,941	174,084
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	163,796	98,739
Office equipment, furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 85,629	$ 83,108

Property and Equipment - Narrat

Property and Equipment - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Property, Plant and Equipment [Abstract]
Finance right-of-use assets	$ 24,536	$ 53,721
Depreciation expense	$ 299,000	$ 282,800	$ 248,200

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 1,626,528,000	$ 1,622,489,000
Tax deductible goodwill	65,400,000	65,400,000
Impairments of goodwill	0	0	$ 0
Intangible asset amortization expense	56,300,000	51,500,000	78,000,000
Intangible asset impairment	0	$ 0	$ 0
Capitalized costs not yet been placed into service	$ 13,200,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 25, 2023
Finite-Lived Intangible Assets [Line Items]
Gross	$ 1,599,570	$ 1,561,001
Accumulated Amortization	(1,461,025)	(1,422,628)
Net	138,545	138,373
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross	1,599,570	1,591,082
Accumulated Amortization	1,461,025	1,422,628
Intangible assets, net	138,545	168,454
In process research and development
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	0	30,081
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross	644,128	644,138
Accumulated Amortization	(633,740)	(631,420)
Net	10,388	12,718
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	633,740	631,420
Existing technology
Finite-Lived Intangible Assets [Line Items]
Gross	747,390	717,331
Accumulated Amortization	(686,460)	(674,549)
Net	60,930	42,782
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	686,460	674,549
Patents and other intangible assets
Finite-Lived Intangible Assets [Line Items]
Gross	208,052	199,532
Accumulated Amortization	(140,825)	(116,659)
Net	67,227	82,873
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ 140,825	$ 116,659

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Estimated Future Amortization Expense of Intangible Assets (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Fiscal Year
2025	$ 42,485
2026	28,010
2027	18,417
2028	14,446
2029	11,673
Thereafter	10,317
Net	$ 125,348

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 25, 2023
Payables and Accruals [Abstract]
Accrued compensation	$ 516,717	$ 481,354
Warranty reserves	228,060	256,781
Income and other taxes payable	186,700	460,630
Dividend payable	260,905	231,267
Restructuring	607	8,014
Other	608,888	572,591
Accrued expenses and other current liabilities	$ 1,801,877	$ 2,010,637

Long Term Debt and Other Borr_3

Long Term Debt and Other Borrowings - Schedule of Outstanding Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 25, 2023	May 05, 2020	Mar. 04, 2019	Mar. 12, 2015
Debt Instrument [Line Items]
Total Senior Notes outstanding, at par	$ 5,000,000
Total Senior Notes outstanding, at par	5,000,000	$ 5,000,000
Unamortized discount	(28,148)	(32,934)
Fair value adjustment - interest rate contracts	0	3,050
Unamortized bond issuance costs	(5,435)	(6,189)
Other financing arrangements	944	1,438
Total debt outstanding, at carrying value	4,967,361	4,965,365
Current portion of long-term debt	501,316	421
Long-term debt	$ 4,466,045	4,964,944
Senior Notes | 3.80% Notes Due 2025
Debt Instrument [Line Items]
Interest rate percentage	3.80%				3.80%
Total Senior Notes outstanding, at par	$ 500,000	$ 500,000
Effective Interest Rate	3.87%	3.87%
Senior Notes | 3.75% Notes Due 2026
Debt Instrument [Line Items]
Interest rate percentage	3.75%			3.75%
Total Senior Notes outstanding, at par	$ 750,000	$ 750,000
Effective Interest Rate	3.86%	3.86%
Senior Notes | 4.00% Notes Due 2029
Debt Instrument [Line Items]
Interest rate percentage	4%			4%
Total Senior Notes outstanding, at par	$ 1,000,000	$ 1,000,000
Effective Interest Rate	4.09%	4.09%
Senior Notes | 1.90% Notes Due 2030
Debt Instrument [Line Items]
Interest rate percentage	1.90%		1.90%
Total Senior Notes outstanding, at par	$ 750,000	$ 750,000
Effective Interest Rate	2.01%	2.01%
Senior Notes | 4.875% Notes Due 2049
Debt Instrument [Line Items]
Interest rate percentage	4.875%			4.875%
Total Senior Notes outstanding, at par	$ 750,000	$ 750,000
Effective Interest Rate	4.93%	4.93%
Senior Notes | 2.875% Notes Due 2050
Debt Instrument [Line Items]
Interest rate percentage	2.875%		2.875%
Total Senior Notes outstanding, at par	$ 750,000	$ 750,000
Effective Interest Rate	2.93%	2.93%
Senior Notes | 3.125% Notes Due 2060
Debt Instrument [Line Items]
Interest rate percentage	3.125%		3.125%
Total Senior Notes outstanding, at par	$ 500,000	$ 500,000
Effective Interest Rate	3.18%	3.18%

Long Term Debt and Other Borr_4

Long Term Debt and Other Borrowings - Schedule of Contractual Cash Obligations (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Principal
2025	$ 500,000
2026	750,000
2027	0
2028	0
2029	1,000,000
Thereafter	2,750,000
Total	5,000,000
Interest
2025	169,583
2026	147,922
2027	128,000
2028	128,000
2029	116,333
Thereafter	1,669,880
Total	$ 2,359,718

Long Term Debt and Other Borr_5

Long Term Debt and Other Borrowings - Senior Notes Narrative (Details) - Senior Notes - USD ($)	12 Months Ended
	Jun. 30, 2024	May 05, 2020	Mar. 04, 2019	Mar. 12, 2015
Debt Instrument [Line Items]
Redemption percent	101%
2030 Notes
Debt Instrument [Line Items]
Principal amount		$ 750,000,000
Interest rate percentage	1.90%	1.90%
Percentage of principal amount of debt redeemed	100%
2050 Notes
Debt Instrument [Line Items]
Principal amount		$ 750,000,000
Interest rate percentage	2.875%	2.875%
Percentage of principal amount of debt redeemed	100%
2060 Notes
Debt Instrument [Line Items]
Principal amount		$ 500,000,000
Interest rate percentage	3.125%	3.125%
Percentage of principal amount of debt redeemed	100%
2026 Notes
Debt Instrument [Line Items]
Principal amount			$ 750,000,000
Interest rate percentage	3.75%		3.75%
Percentage of principal amount of debt redeemed	100%
2029 Notes
Debt Instrument [Line Items]
Principal amount			$ 1,000,000,000
Interest rate percentage	4%		4%
Percentage of principal amount of debt redeemed	100%
2049 Notes
Debt Instrument [Line Items]
Principal amount			$ 750,000,000
Interest rate percentage	4.875%		4.875%
Percentage of principal amount of debt redeemed	100%
2025 Notes
Debt Instrument [Line Items]
Principal amount				$ 500,000,000
Interest rate percentage	3.80%			3.80%
Percentage of principal amount of debt redeemed	100%

Long Term Debt and Other Borr_6

Long Term Debt and Other Borrowings - Schedule of Additional Senior Notes Information (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2024 USD ($)
2025 Notes
Debt Instrument [Line Items]
Remaining Amortization period	8 months 12 days
2026 Notes
Debt Instrument [Line Items]
Remaining Amortization period	1 year 8 months 12 days
2029 Notes
Debt Instrument [Line Items]
Remaining Amortization period	4 years 8 months 12 days
2030 Notes
Debt Instrument [Line Items]
Remaining Amortization period	6 years
2049 Notes
Debt Instrument [Line Items]
Remaining Amortization period	24 years 8 months 12 days
2050 Notes
Debt Instrument [Line Items]
Remaining Amortization period	26 years
2060 Notes
Debt Instrument [Line Items]
Remaining Amortization period	36 years
Fair Value of Notes (Level 2) | 2025 Notes
Debt Instrument [Line Items]
Fair Value of Notes (Level 2)	$ 494,015
Fair Value of Notes (Level 2) | 2026 Notes
Debt Instrument [Line Items]
Fair Value of Notes (Level 2)	731,970
Fair Value of Notes (Level 2) | 2029 Notes
Debt Instrument [Line Items]
Fair Value of Notes (Level 2)	961,560
Fair Value of Notes (Level 2) | 2030 Notes
Debt Instrument [Line Items]
Fair Value of Notes (Level 2)	632,880
Fair Value of Notes (Level 2) | 2049 Notes
Debt Instrument [Line Items]
Fair Value of Notes (Level 2)	685,553
Fair Value of Notes (Level 2) | 2050 Notes
Debt Instrument [Line Items]
Fair Value of Notes (Level 2)	488,130
Fair Value of Notes (Level 2) | 2060 Notes
Debt Instrument [Line Items]
Fair Value of Notes (Level 2)	$ 317,660

Long Term Debt and Other Borr_7

Long Term Debt and Other Borrowings - Revolving Credit Facility Narrative (Details) - Revolving Credit Facility - USD ($)	Dec. 07, 2022	Jun. 30, 2024
Line of Credit Facility [Line Items]
Revolving unsecured credit facility	$ 1,500,000,000
Additional increase in the facility, available expansion	600,000,000
Revolving unsecured credit facility, available expansion	$ 2,100,000,000
Borrowings outstanding		$ 0
Adjusted Term SOFR
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate (percent)	0.10%
Federal Funds rate
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate (percent)	0.50%
SOFR
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate (percent)	1%
SOFR | Minimum | Variable Rate Component One
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate (percent)	0%
SOFR | Minimum | Variable Rate Component Two
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate (percent)	0.805%
SOFR | Maximum | Variable Rate Component One
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate (percent)	0.30%
SOFR | Maximum | Variable Rate Component Two
Line of Credit Facility [Line Items]
Debt instrument basis spread on variable rate (percent)	1.30%

Long Term Debt and Other Borr_8

Long Term Debt and Other Borrowings - Commercial Paper Program (Details) - Commercial Paper - USD ($)	Jun. 30, 2024	Jul. 31, 2021	Nov. 13, 2017
Short-term Debt [Line Items]
Revolving unsecured credit facility maximum borrowing capacity		$ 1,500,000,000	$ 1,250,000,000
Commercial paper, outstanding borrowings	$ 0

Long Term Debt and Other Borr_9

Long Term Debt and Other Borrowings - Schedule of Recognized Interest Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Debt Disclosure [Abstract]
Contractual interest coupon	$ 175,128	$ 175,128	$ 175,128
Amortization of interest discount	3,274	2,862	2,767
Amortization of issuance costs	1,488	1,376	1,351
Effect of interest rate contracts, net	3,145	2,545	2,455
Total interest cost recognized	$ 183,035	$ 181,911	$ 181,701

Leases - Schedule of Other Oper

Leases - Schedule of Other Operating Cost and Expense, by Component (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Financing lease cost:
Amortization of right-of-use assets	$ 5,175	$ 7,899	$ 7,439
Interest on lease liabilities	756	863	658
Total finance lease cost	5,931	8,762	8,097
Operating lease cost	83,476	75,660	69,250
Variable lease cost	$ 176,641	$ 227,726	$ 259,041

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$ 97,447	$ 74,397	$ 64,808
Financing cash flows paid for principal portion of finance leases	255,695	14,985	11,513
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	146,169	91,592	121,580
Finance leases	$ 226,519	$ 20,161	$ 13,868

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 25, 2023
Operating leases
Other assets	$ 308,336	$ 242,656
Accrued expenses and other current liabilities	64,443	64,682
Other long-term liabilities	223,273	172,886
Total operating lease liabilities	$ 287,716	$ 237,568
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities	Other long-term liabilities
Finance Leases
Property and Equipment, net	$ 24,536	$ 53,721
Current portion of long-term debt and lease liabilities	3,498	7,937
Long-term debt and lease liabilities, less current portion	12,475	38,239
Total finance lease liabilities	$ 15,973	$ 46,176
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Current portion of long-term debt and finance lease obligations	Current portion of long-term debt and finance lease obligations
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term debt and finance lease obligations, less current portion	Long-term debt and finance lease obligations, less current portion

Leases - Weighted-Average Remai

Leases - Weighted-Average Remaining Lease Term and Discount Rate (Details)	Jun. 30, 2024	Jun. 25, 2023
Operating leases
Weighted-Average Remaining Lease Term	4 years 10 months 24 days	4 years 10 months 24 days
Weighted-Average Discount Rate	3.54%	3.80%
Finance leases
Weighted-Average Remaining Lease Term	5 years 9 months 18 days	5 years 2 months 12 days
Weighted-Average Discount Rate	3.39%	2.56%

Leases - Operating and Finance

Leases - Operating and Finance Lease Liability (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 25, 2023
Operating Leases
2025	$ 72,326
2026	61,810
2027	48,115
2028	45,898
2029	46,964
Thereafter	42,754
Total lease payments	317,867
Less imputed interest	(30,151)
Total	287,716	$ 237,568
Finance Leases
2025	3,942
2026	3,239
2027	2,840
2028	2,211
2029	1,779
Thereafter	3,475
Total lease payments	17,486
Less imputed interest	(1,513)
Total finance lease liabilities	$ 15,973	$ 46,176

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 24, 2023	Jun. 30, 2024	Jun. 25, 2023
Improved properties
Guarantor Obligations [Line Items]
Payments to acquire assets	$ 250.5
Land
Guarantor Obligations [Line Items]
Payments to acquire assets	40.5
Buildings and improvements
Guarantor Obligations [Line Items]
Payments to acquire assets	$ 210
Cash Collateral
Guarantor Obligations [Line Items]
Restricted cash		$ 250	$ 250
California Facility Leases
Guarantor Obligations [Line Items]
Residual value of operating lease, maximum			$ 298.4

Retirement and Deferred Compe_2

Retirement and Deferred Compensation Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Retirement Benefits [Abstract]
Minimum employee 401K contribution (percent)	1%
Maximum employee 401K contribution (percent)	75%
Employer contribution matching (percent)	50%
Maximum employee contributions matched by the Company (percent)	6%
Defined benefit plan, contribution by employer	$ 34.3	$ 34.7	$ 32.6
Payment of benefits, duration after opening of a deferral subaccount or upon retirement (at least)	3 years
Deferred compensation plan maximum distribution period	20 years
Liabilities of company to plan participants	$ 385.5	318
Assets correlated to the deferred compensation obligation	393.5	318.1
Defined benefit obligations	$ 31.2	$ 33.2

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 25, 2023	Jun. 30, 2024	Jun. 26, 2022	Jun. 30, 2019
Loss Contingencies [Line Items]
Liabilities related to uncertain tax benefits		$ 679,000
Transition tax		413,348		$ 868,400
Adjustments	$ 50,000
Warranty reserves	$ 286,663	250,404	$ 256,258
Other long-term Liabilities
Loss Contingencies [Line Items]
Warranty reserves		22,300
Letters of Credit
Loss Contingencies [Line Items]
Maximum potential amount of future payments		$ 207,900

Commitments and Contingencies_2

Commitments and Contingencies - Purchase Commitments (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Payments Due by Fiscal Year:
2025	$ 816,752
2026	29,784
2027	4,508
2028	4,786
2029	3,679
Thereafter	3,113
Purchase obligations for which timing of payment is indeterminable	64,061
Total	$ 926,683

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Transition Tax Liability (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
2025	$ 183,710
2026	229,638
Total	$ 413,348	$ 868,400

Commitments and Contingencies_4

Commitments and Contingencies - Schedule of Changes in Product Warranty Reserves (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023
Movement in Product Warranty Reserves
Balance at beginning of period	$ 286,663	$ 256,258
Warranties issued during the period	193,829	272,281
Settlements made during the period	(189,213)	(240,841)
Changes in liability for warranties issued during the period	(155)	(14,270)
Changes in liability for pre-existing warranties	(40,720)	13,235
Balance at end of period	$ 250,404	$ 286,663

Stock Repurchase Program - Narr

Stock Repurchase Program - Narrative (Details) $ / shares in Units, shares in Thousands		1 Months Ended		3 Months Ended				12 Months Ended
	Feb. 01, 2024 USD ($) financial_institution shares	May 31, 2024 USD ($)	Apr. 30, 2024 $ / shares shares	Jun. 30, 2024 $ / shares shares	Mar. 31, 2024 $ / shares shares	Dec. 24, 2023 $ / shares shares	Sep. 24, 2023 $ / shares shares	Jun. 30, 2024 USD ($) shares
Equity, Class of Treasury Stock [Line Items]
Increase in authorized amount		$ 10,000,000,000
Net shares of settlements to cover tax withholding obligations (in shares) | shares								144
Amount paid for shares under net share settlements								$ 135,900,000
Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Increase in authorized amount		$ 10,000,000,000
Purchase of treasury stock (in shares) | shares				525	828	970	1,257
Weighted-average share price (usd per share) | $ / shares				$ 993.91	$ 774.77	$ 660.04	$ 660.01
February 2024 ASR
Equity, Class of Treasury Stock [Line Items]
Number of financial institutions | financial_institution	2
Repurchase amount	$ 700,000,000
Purchase of treasury stock (in shares) | shares	631		140
Percent of prepayment amount	75%
Weighted-average share price (usd per share) | $ / shares			$ 917.38

Stock Repurchase Program - Sche

Stock Repurchase Program - Schedule of Repurchases under Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 24, 2023	Sep. 24, 2023	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022	May 31, 2024
Equity, Class of Treasury Stock [Line Items]
Total cost of repurchase					$ 2,848,792	$ 2,062,452	$ 3,845,704
Stock Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Total Number of Shares Repurchased (in shares)	525	828	970	1,257
Total cost of repurchase	$ 382,332	$ 860,084	$ 640,267	$ 829,874
Average price paid per share (usd per share)	$ 993.91	$ 774.77	$ 660.04	$ 660.01
Amount Available Under Repurchase Program	$ 10,824,660	$ 1,206,992	$ 2,067,076	$ 2,707,343	$ 10,824,660	$ 3,537,217		$ 11,206,992

Segment, Geographic Informati_3

Segment, Geographic Information and Major Customers - Narrative (Details)	12 Months Ended
	Jun. 30, 2024 segment region	Jun. 25, 2023	Jun. 26, 2022
Segment Reporting [Abstract]
Number of reportable business segment | segment	1
Number of geographic regions the company operates | region	7
Revenue Benchmark | Customer Concentration Risk | Customer 1
Segment Reporting Information [Line Items]
Concentration by percent	17%	22%	21%
Revenue Benchmark | Customer Concentration Risk | Customer 2
Segment Reporting Information [Line Items]
Concentration by percent		16%	12%
Revenue Benchmark | Customer Concentration Risk | Customer 3
Segment Reporting Information [Line Items]
Concentration by percent			12%
Revenue Benchmark | Customer Concentration Risk | Customer 4
Segment Reporting Information [Line Items]
Concentration by percent			11%

Segment, Geographic Informati_4

Segment, Geographic Information and Major Customers - Schedule of Revenues and Long-lived Assets by Geographic Region (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023	Jun. 26, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	$ 14,905,386	$ 17,428,516	$ 17,227,039
Long-lived assets	2,462,854	2,099,328	1,874,235
China
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	6,293,990	4,462,663	5,411,502
Long-lived assets	6,390	8,865	7,214
Korea
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	2,874,015	3,551,742	4,037,467
Long-lived assets	262,405	215,898	183,809
Taiwan
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	1,671,815	3,477,862	2,936,482
Long-lived assets	98,268	65,432	72,845
Japan
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	1,460,429	1,758,364	1,624,573
Long-lived assets	7,858	8,452	8,406
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	1,104,087	1,665,136	1,147,346
Long-lived assets	1,582,103	1,367,534	1,276,274
Southeast Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	794,054	1,354,471	1,357,648
Long-lived assets	390,514	339,415	248,029
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	706,996	1,158,278	712,021
Long-lived assets	$ 115,316	$ 93,732	$ 77,658

Business Combinations - Narrati

Business Combinations - Narrative (Details) $ in Thousands	1 Months Ended
	Nov. 30, 2022 USD ($) business	Jun. 30, 2024 USD ($)	Jun. 25, 2023 USD ($)
Business Acquisition [Line Items]
Goodwill		$ 1,626,528	$ 1,622,489
Two business combination transactions
Business Acquisition [Line Items]
Number of businesses transactions | business	2
Consideration transferred of cash	$ 153,800
Goodwill	102,200
Intangible assets	81,210
Other assets acquired	0
Liabilities assumed	$ 0

Business Combinations - Schedul

Business Combinations - Schedule of Identified Intangible Assets Assumed in the Acquisition (Details) - Two business combination transactions $ in Thousands	1 Months Ended
	Nov. 30, 2022 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 81,210
In process research and development
Acquired Finite-Lived Intangible Assets [Line Items]
In process research and development	$ 30,081
Existing technology
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted-Average Useful Life	7 years
Finite-lived intangibles assets acquired	$ 40,294
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted-Average Useful Life	8 years
Finite-lived intangibles assets acquired	$ 10,835

Restructuring Charges, Net - Na

Restructuring Charges, Net - Narrative (Details) $ in Thousands	12 Months Ended			24 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 25, 2023 USD ($)	Jun. 26, 2022 USD ($)	Jun. 30, 2024 USD ($) employee
Restructuring and Related Activities [Abstract]
Terminated | employee				1,760
Restructuring charges, net - cost of goods sold	$ 43,375	$ 78,166	$ 0
Restructuring charges, net - operating expenses	18,187	$ 42,150	$ 0
Cumulative costs	$ 181,900			$ 181,900

Restructuring Charges, Net - Sc

Restructuring Charges, Net - Schedule of Restructuring Charges, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2024	Jun. 25, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of goods sold, Restructuring charges, net - operating expenses	Cost of goods sold, Restructuring charges, net - operating expenses
Restructuring Reserve [Roll Forward]
Restructuring liability, beginning balance	$ 8,235	$ 0
Restructuring expense	61,562	120,316
Cash payments	(60,729)	(108,425)
Non-cash activities	(7,975)	(3,656)
Restructuring liability, ending balance	1,093	8,235
Severance and Benefits
Restructuring Reserve [Roll Forward]
Restructuring liability, beginning balance	7,989	0
Restructuring expense	29,926	107,063
Cash payments	(36,684)	(96,047)
Non-cash activities	(1,034)	(3,027)
Restructuring liability, ending balance	197	7,989
Other
Restructuring Reserve [Roll Forward]
Restructuring liability, beginning balance	246	0
Restructuring expense	31,636	13,253
Cash payments	(24,045)	(12,378)
Non-cash activities	(6,941)	(629)
Restructuring liability, ending balance	$ 896	$ 246