Commitments, Contingencies and Related Parties (Tables)

3 Months Ended

Sep. 28, 2018

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 September 28, 2018 and June 29, 2018:

	September 28, 2018		June 29, 2018
	(in millions)
Notes receivable, Flash Partners	$	737	$	767
Notes receivable, Flash Alliance	94		48
Notes receivable, Flash Forward	619		700
Investment in Flash Partners	187		191
Investment in Flash Alliance	277		283
Investment in Flash Forward	114		116
Total notes receivable and investments in Flash Ventures	$	2,028	$	2,105

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 September 28, 2018, is presented below. Investments in Flash Ventures are denominated in Japanese yen, and the maximum estimable loss exposure excludes any cumulative translation adjustment due to revaluation from the Japanese yen to the U.S. dollar.

	September 28, 2018
Notes receivable	$	1,450
Equity investments	578
Operating lease guarantees	1,236
Inventory and prepayments	359
Maximum estimable loss exposure	$	3,623

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 September 28, 2018.

	Lease Amounts
	(Japanese yen, in billions)		(U.S. dollar, in millions)
Total guarantee obligations	¥	140	$	1,236

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 September 28, 2018 in U.S. dollars, based upon the Japanese yen to U.S. dollar exchange rate as of September 28, 2018:

Annual Installments	Payment of Principal Amortization		Purchase Option Exercise Price at Final Lease Terms		Guarantee Amount
	(in millions)
Remaining nine months of 2019	$	280	$	33	$	313
2020	282		61		343
2021	197		95		292
2022	110		47		157
2023	42		64		106
Thereafter	3		22		25
Total guarantee obligations	$	914	$	322	$	1,236

Schedule of Long-term Purchase Commitments

As of September 28, 2018, the Company had the following minimum long-term purchase commitments:

	Long-term purchase commitments
	(in millions)
Fiscal year
Remaining nine months of 2019	$	14
2020	144
2021	141
2022	150
2023 and thereafter	170
Total	$	619