Shareholders' Equity (Tables)

9 Months Ended

Apr. 02, 2021

Share-based Payment Arrangement [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

The following tables present the Company’s stock-based compensation for equity-settled awards by type (i.e., stock options, restricted stock units (“RSUs”), restricted stock unit awards with performance conditions or market conditions (“PSUs”), and rights to purchase shares of common stock under the Company’s Employee Stock Purchase Plan (“ESPP”)) and financial statement line as well as the related tax benefit included in the Company’s Condensed Consolidated Statements of Operations:

	Three Months Ended				Nine Months Ended
	April 2, 2021		April 3, 2020		April 2, 2021		April 3, 2020
	(in millions)
Options	$	—	$	1	$	—	$	5
RSUs and PSUs	73		68		212		204
ESPP	10		9		27		23
Total	$	83	$	78	$	239	$	232

	Three Months Ended				Nine Months Ended
	April 2, 2021		April 3, 2020		April 2, 2021		April 3, 2020
	(in millions)
Cost of revenue	$	14	$	13	$	41	$	38
Research and development	41		41		120		123
Selling, general and administrative	28		24		78		71
Subtotal	83		78		239		232
Tax benefit	(11)		(9)		(35)		(32)
Total	$	72	$	69	$	204	$	200

Employee Service Share-based Compensation, Unrecognized Costs

The following table presents the unamortized compensation cost and weighted average service period of all unvested outstanding awards as of April 2, 2021:

	Unamortized Compensation Costs		Weighted Average Service Period
	(in millions)		(years)
RSUs and PSUs (1)	$	586	2.6
ESPP	12		0.4
Total unamortized compensation cost	$	598

(1)    Weighted average service period assumes the performance metrics are met for the PSUs.

Stock Option Activity

The following table summarizes stock option activity under the Company’s incentive plans:

	Number of Shares	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value
	(in millions)			(in years)	(in millions)
Options outstanding at July 3, 2020	2.7	$	69.16	2.1	$	—
Exercised	(0.4)	44.16			$	5
Canceled or expired	(0.7)	75.09
Options outstanding at April 2, 2021	1.6	72.26		1.45	$	17
Exercisable at April 2, 2021	1.6	$	72.26	1.45	$	17

Restricted Stock Unit

The following table summarizes RSU and PSU activity under the Company’s incentive plans:

	Number of Shares	Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value at Vest Date
	(in millions)			(in millions)
RSUs and PSUs outstanding at July 3, 2020	13.3	$	60.92
Granted	8.2	38.31
Vested	(4.2)	60.89		$	178
Forfeited	(1.2)	57.20
RSUs and PSUs outstanding at April 2, 2021	16.1	49.42