Commitments and Contingencies (Tables)

6 Months Ended

Dec. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

Notes Receivable and Investments in Related Parties

The following table presents the notes receivable from, and equity investments in, Flash Ventures as of December 30, 2016 and July 1, 2016:

	December 30, 2016		July 1, 2016
	(in millions)
Notes receivable, Flash Partners	$	145	$	65
Notes receivable, Flash Alliance	138		235
Notes receivable, Flash Forward	248		263
Investment in Flash Partners	178		202
Investment in Flash Alliance	267		306
Investment in Flash Forward	106		100
Total notes receivable and investments in Flash Ventures	$	1,082	$	1,171

Variable Interest Entity Maximum Loss Exposure

The Company’s maximum reasonably estimable loss exposure (excluding lost profits) as a result of its involvement with Flash Ventures, based upon the Japanese yen to U.S. dollar exchange rate at December 30, 2016, is presented below. Investments in Flash Ventures are denominated in Japanese yen and the maximum possible loss exposure excludes any cumulative translation adjustment due to revaluation from the Japanese yen to the U.S. dollar.

	December 30, 2016
	(in millions)
Notes receivable	$	531
Equity investments	551
Operating lease guarantees	1,102
Prepayments	26
Maximum estimable loss exposure	$	2,210

Schedule of Guarantor Obligations

The following table presents the Company’s portion of the remaining guarantee obligations under the Flash Ventures’ lease facilities in both Japanese yen and U.S. dollar-equivalent based upon the Japanese yen to U.S. dollar exchange rate as of December 30, 2016.

	Lease Amounts
	(Japanese yen, in billions)		(U.S. dollar, in millions)
Total guarantee obligations	¥	129	$	1,102

Remaining Guarantee Obligations

The following table details the breakdown of the Company’s remaining guarantee obligations between the principal amortization and the purchase option exercise price at the end of the term of the Flash Ventures lease agreements, in annual installments as of December 30, 2016 in U.S. dollars based upon the Japanese yen to U.S. dollar exchange rate as of December 30, 2016:

Annual Installments	Payment of Principal Amortization		Purchase Option Exercise Price at Final Lease Terms		Guarantee Amount
	(in millions)
Year 1	$	269	$	47	$	316
Year 2	230		—		230
Year 3	184		71		255
Year 4	108		58		166
Year 5	33		102		135
Total guarantee obligations	$	824	$	278	$	1,102