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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Jun. 28, 2024
Jun. 30, 2023
Jul. 01, 2022
Cash flows from operating activities      
Net income (loss) $ (798) $ (1,684) $ 1,546
Adjustments to reconcile net income (loss) to net cash provided by (used in) operations:      
Depreciation and amortization 568 828 929
Stock-based compensation 295 318 326
Deferred income taxes (161) (48) 116
Gain on disposal of assets (87) (7) (16)
Non-cash asset impairment 158 19 0
Gain on business divestiture 0 0 (9)
Amortization of debt issuance costs and discounts 19 13 44
Other non-cash operating activities, net 19 61 19
Changes in:      
Accounts receivable, net (568) 1,206 (546)
Inventories 356 (60) (22)
Accounts payable 244 (459) (129)
Accounts payable to related parties 21 (28) (78)
Accrued expenses 197 (352) 246
Income taxes payable (474) 130 (74)
Accrued compensation 259 (162) (123)
Other assets and liabilities, net (342) (183) (349)
Net cash provided by (used in) operating activities (294) (408) 1,880 CloseClose
Cash flows from investing activities      
Purchases of property, plant and equipment (487) (821) (1,122)
Proceeds from the sale of property, plant and equipment 195 14 15
Proceeds from dispositions of business 0 0 32
Notes receivable issuances to Flash Ventures (243) (627) (809)
Notes receivable proceeds from Flash Ventures 482 641 718
Strategic investments and other, net 26 31 (26)
Net cash used in investing activities (27) (762) (1,192) CloseCloseClose
Cash flows from financing activities      
Issuance of stock under employee stock plans 80 93 122
Taxes paid on vested stock awards under employee stock plans (88) (80) (90)
Purchase of capped calls (155) 0 0
Proceeds from convertible preferred stock, net of issuance costs (5) 881 0
Repurchases of debt (505) 0 0
Repayment of debt (2,104) (1,180) (3,621)
Proceeds from debt issuance 3,000 1,180 1,894
Debt issuance costs (36) (19) (23)
Net cash provided by (used in) financing activities 187 875 (1,718)
Effect of exchange rate changes on cash (10) (9) (13) CloseClose
Net decrease in cash and cash equivalents (144) (304) (1,043) CloseClose
Cash and cash equivalents, beginning of year 2,023 2,327 3,370
Cash and cash equivalents, end of year 1,879 2,023 2,327
Supplemental disclosure of cash flow information:      
Cash paid for income taxes 920 177 423
Cash paid for interest 396 294 245
Noncash exchange of Term Loan A-1 for Term Loan A-2 $ 0 $ 0 $ 2,104