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Supplemental Financial Statement Data
 12 Months Ended
Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Financial Statement Data Supplemental Financial Statement Data
Accounts receivable, net

From time to time, in connection with factoring agreements, the Company sells trade accounts receivable without recourse to third-party purchasers in exchange for cash. In 2023, 2022 and 2021, the Company sold trade accounts receivable aggregating $776 million, $400 million and $233 million, respectively. The discounts on the trade accounts receivable sold during the periods were not material and were recorded within Other income, net in the Consolidated Statements of Operations. As of June 30, 2023 and July 1, 2022, the amount of factored receivables that remained outstanding was $150 million and $300 million, respectively.

Inventories
June 30,
2023		July 1,
2022
(in millions)
Inventories:
Raw materials and component parts$2,096 $1,603 
Work-in-process979 1,162 
Finished goods623 873 
Total inventories$3,698 $3,638 

Property, plant and equipment, net
June 30,
2023		July 1,
2022
(in millions)
Property, plant and equipment:
Land$269 $269 
Buildings and improvements1,955 1,920 
Machinery and equipment8,704 8,642 
Computer equipment and software470 494 
Furniture and fixtures54 54 
Construction-in-process798 591 
Property, plant and equipment, gross12,250 11,970 
Accumulated depreciation(8,630)(8,300)
Property, plant and equipment, net$3,620 $3,670 

Depreciation expense for property, plant and equipment totaled $695 million, $708 million and $726 million in 2023, 2022 and 2021, respectively.
Intangible assets

The following tables present intangible assets as of June 30, 2023 and July 1, 2022:
June 30, 2023
Weighted Average Amortization PeriodGross Carrying AmountAccumulated AmortizationNet Carrying Amount
(in years)(in millions)
Finite-lived:
Existing technology3$4,231 $(4,231)$— 
Trade names and trademarks7648 (648)— 
Customer relationships6611 (611)— 
Leasehold interests311 (1)— 
Total finite intangible assets5,491 (5,491)— 
In-process research and development80 — 80 
Total intangible assets$5,571 $(5,491)$80 
July 1, 2022
Weighted Average Amortization PeriodGross Carrying AmountAccumulated AmortizationNet Carrying Amount
(in years)(in millions)
Finite-lived:
Existing technology3$4,231 $(4,231)$— 
Trade names and trademarks7648 (573)75 
Customer relationships6613 (555)58 
Leasehold interests311 (1)— 
Total finite intangible assets5,493 (5,360)133 
In-process research and development80 — 80 
Total intangible assets$5,573 $(5,360)$213 

As part of prior acquisitions, the Company recorded at the time of the acquisition acquired IPR&D for projects in progress that had not yet reached technological feasibility. IPR&D is initially accounted for as an indefinite-lived intangible asset. Once a project reaches technological feasibility, the Company reclassifies the balance to existing technology and begins to amortize the intangible asset over its estimated useful life.

During 2023, 2022 and 2021, the Company did not record any impairment charges related to intangible assets.

Intangible assets are amortized over the estimated useful lives based on the pattern in which the economic benefits are expected to be received. Amortization expense for intangible assets subject to amortization totaled $133 million, $221 million, and $486 million in 2023, 2022 and 2021, respectively. As of June 30, 2023, all finite-lived intangible assets were fully amortized.
Product warranty liability

Changes in the warranty accrual were as follows:
202320222021
(in millions)
Warranty accrual, beginning of period$345 $363 $408 
Charges to operations106 146 137 
Utilization(169)(103)(106)
Changes in estimate related to pre-existing warranties(38)(61)(76)
Warranty accrual, end of period$244 $345 $363 

The current portion of the warranty accrual is classified in Accrued expenses and the long-term portion is classified in Other liabilities as noted below:
20232022
(in millions)
Warranty accrual
Current portion (included in Accrued expenses)$97 $162 
Long-term portion (included in Other liabilities)147 183 
Total warranty accrual$244 $345 

Other liabilities
20232022
(in millions)
Other liabilities:
Non-current net tax payable$464 $659 
Non-current portion of unrecognized tax benefits408 477 
Other non-current liabilities543 643 
Total other liabilities$1,415 $1,779 
Accumulated other comprehensive loss

Accumulated other comprehensive loss (“AOCL”), net of tax, refers to expenses, gains and losses that are recorded as an element of shareholders’ equity but are excluded from net income. The following table illustrates the changes in the balances of each component of AOCL:
Actuarial Pension LossesForeign Currency Translation AdjustmentUnrealized Losses on Derivative ContractsTotal Accumulated Comprehensive Loss
(in millions)
Balance at July 2, 2021$(35)$(38)$(124)$(197)
Other comprehensive income (loss) before reclassifications26 (239)(352)(565)
Amounts reclassified from accumulated other comprehensive loss— — 172 172 
Income tax benefit (expense) related to items of other comprehensive income (loss)(2)— 38 36 
Net current-period other comprehensive income (loss)24 (239)(142)(357)
Balance at July 1, 2022(11)(277)(266)(554)
Other comprehensive income (loss) before reclassifications12 (81)(213)(282)
Amounts reclassified from accumulated other comprehensive loss— — 351 351 
Income tax benefit (expense) related to items of other comprehensive income (loss)(3)1 (29)(31)
Net current-period other comprehensive income (loss)9 (80)109 38 
Balance at June 30, 2023$(2)$(357)$(157)$(516)
During 2023 and 2022, the amounts reclassified out of AOCL included gains of $10 million and losses of $47 million, respectively, related to interest rate swaps and losses of $361 million and $125 million, respectively, related to foreign exchange contracts. The gains and losses related to interest rate swaps were charged to interest expense and losses related to foreign contracts were substantially all charged to Cost of revenue in the Consolidated Statements of Operations.