Pensions and Other Post-retirement Benefit Plans (Tables)

12 Months Ended

Jun. 29, 2018

The following table presents the unfunded status of the benefit obligations for the Japanese Plan:



	2018			2017			2016
	(in millions)
Change in benefit obligation:
Benefit obligation at beginning of period	$	249		$	326		$	231
Service cost	6			8			8
Interest cost	2			1			3
Actuarial loss (gain)	9			(22		)	52
Benefits paid	(9		)	(30		)	(16		)
Settlement/Curtailment	—			(6		)	(1		)
Non-U.S. currency movement	3			(28		)	49
Benefit obligation at end of period	$	260		$	249		$	326
Change in plan assets:
Fair value of plan assets at beginning of period	$	189		$	212		$	185
Actual return on plan assets	8			15			(14		)
Employer contributions	10			10			20
Benefits paid	(9		)	(30		)	(16		)
Non-U.S. currency movement	2			(18		)	37
Fair value of plan assets at end of period	$	200		$	189		$	212
Unfunded status	$	60		$	60		$	114

Unfunded Amounts Recognized on Consolidated Balance Sheets

The following table presents the unfunded amounts related to the Japanese Plan as recognized on the Company’s Consolidated Balance Sheets:



	June 29, 2018		June 30, 2017
	(in millions)
Current liabilities	$	1	$	1
Non-current liabilities	59		59
Net amount recognized	$	60	$	60

Schedule of Assumptions Used

The weighted-average actuarial assumptions used to determine benefit obligations for the Japanese defined benefit pension plans were as follows:



	2018		2017		2016
Discount rate	0.7	%	0.8	%	0.4	%
Rate of compensation increase	0.7	%	0.8	%	0.8	%

The weighted-average actuarial assumptions used to determine benefit costs for the Japanese defined benefit pension plans were as follows:



	2018		2017		2016
Discount rate	0.8	%	0.4	%	1.3	%
Expected long-term rate of return on plan assets	2.5	%	2.5	%	2.5	%
Rate of compensation increase	0.8	%	0.8	%	0.9	%

Schedule of Defined Benefit Plans Disclosures

The following tables present the Japanese defined benefit pension plans’ major asset categories and their associated fair values as of June 29, 2018 and June 30, 2017:



	June 29, 2018
	Level 1		Level 2		Level 3		Total
	(in millions)
Equity:
Equity commingled/mutual funds⁽¹⁾⁽²⁾	$	—	$	68	$	—	$	68
Fixed income:
Fixed income commingled/mutual funds⁽¹⁾⁽³⁾	—		125		—		125
Cash equivalents and short-term investments	3		4		—		7
Fair value of plan assets	$	3	$	197	$	—	$	200



	June 30, 2017
	Level 1		Level 2		Level 3		Total
	(in millions)
Equity:
Equity commingled/mutual funds⁽¹⁾⁽²⁾	$	—	$	67	$	—	$	67
Fixed income:
Fixed income commingled/mutual funds⁽¹⁾⁽³⁾	—		116		—		116
Cash equivalents and short-term investments	2		4		—		6
Fair value of plan assets	$	2	$	187	$	—	$	189


⁽¹⁾	Commingled funds represent pooled institutional investments.


⁽²⁾	Equity mutual funds invest primarily in equity securities.


⁽³⁾	Fixed income mutual funds invest primarily in fixed income securities.