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

9 Months Ended

Mar. 29, 2024

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						Nine Months Ended
	March 29, 2024			March 31, 2023			March 29, 2024			March 31, 2023
	$ in millions
Revenue, net:
Flash	$	1,705		$	1,307		$	4,926		$	4,686
HDD	1,752			1,496			4,313			4,960
Total net revenue	$	3,457		$	2,803		$	9,239		$	9,646
Gross profit:
Flash	$	467		$	(65)		$	437		$	597
HDD	545			363			1,157			1,237
Total gross profit for segments	1,012			298			1,594			1,834
Unallocated corporate items:
Stock-based compensation expense	(11)			(12)			(37)			(38)
Amortization of acquired intangible assets	(1)			—			(2)			(1)
Recovery from contamination incident	1			—			37			—
Total unallocated corporate items	(11)			(12)			(2)			(39)
Consolidated gross profit	$	1,001		$	286		$	1,592		$	1,795
Gross margin:
Flash	27.4		%	(5.0)		%	8.9		%	12.7		%
HDD	31.1		%	24.3		%	26.8		%	24.9		%
Consolidated gross margin	29.0		%	10.2		%	17.2		%	18.6		%

Schedule of Disaggregation of Revenue

The Company’s disaggregated revenue information is as follows:

	Three Months Ended				Nine Months Ended
	March 29, 2024		March 31, 2023		March 29, 2024		March 31, 2023
	(in millions)
Revenue by end market
Cloud	$	1,553	$	1,205	$	3,496	$	4,258
Client	1,174		975		3,443		3,293
Consumer	730		623		2,300		2,095
Total revenue	$	3,457	$	2,803	$	9,239	$	9,646
Revenue by geography
Asia	$	1,740	$	1,353	$	4,990	$	4,533
Americas	1,154		935		2,620		3,448
Europe, Middle East and Africa	563		515		1,629		1,665
Total revenue	$	3,457	$	2,803	$	9,239	$	9,646

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	(2)		(1)		(3)
Balance at March 29, 2024	$	5,714	$	4,320	$	10,034