Business Segments, Geographic Information, and Concentrations of Risk (Tables)

6 Months Ended

Dec. 29, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The following table summarizes the operating performance of the Company’s reportable segments:

	Three Months Ended						Six Months Ended
	December 29, 2023			December 30, 2022			December 29, 2023			December 30, 2022
	$ in millions
Net revenue:
Flash	$	1,665		$	1,657		$	3,221		$	3,379
HDD	1,367			1,450			2,561			3,464
Total net revenue	$	3,032		$	3,107		$	5,782		$	6,843
Gross profit:
Flash	$	131		$	240		$	(30)		$	662
HDD	339			300			612			874
Total gross profit for segments	470			540			582			1,536
Unallocated corporate items:
Stock-based compensation expense	(13)			(12)			(26)			(26)
Amortization of acquired intangible assets	(1)			—			(1)			(1)
Recovery from contamination incident	36			—			36			—
Total unallocated corporate items	22			(12)			9			(27)
Consolidated gross profit	$	492		$	528		$	591		$	1,509
Gross margin:
Flash	7.9		%	14.5		%	(0.9)		%	19.6		%
HDD	24.8		%	20.7		%	23.9		%	25.2		%
Consolidated gross margin	16.2		%	17.0		%	10.2		%	22.1		%

Schedule of Disaggregation of Revenue

The Company’s disaggregated revenue information is as follows:

	Three Months Ended				Six Months Ended
	December 29, 2023		December 30, 2022		December 29, 2023		December 30, 2022
	(in millions)
Revenue by End Market
Cloud	$	1,071	$	1,224	$	1,943	$	3,053
Client	1,122		1,089		2,269		2,318
Consumer	839		794		1,570		1,472
Total Revenue	$	3,032	$	3,107	$	5,782	$	6,843
Revenue by Geography
Asia	$	1,699	$	1,494	$	3,250	$	3,180
Americas	804		1,090		1,466		2,513
Europe, Middle East and Africa	529		523		1,066		1,150
Total Revenue	$	3,032	$	3,107	$	5,782	$	6,843

Schedule of Goodwill

The following table provides a summary of goodwill activity for the period:

	Flash		HDD		Total
	(in millions)
Balance at June 30, 2023	$	5,716	$	4,321	$	10,037
Foreign currency translation adjustment	1		(1)		—
Balance at December 29, 2023	$	5,717	$	4,320	$	10,037