Foreign Exchange Contracts

12 Months Ended

Jun. 28, 2013

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Foreign Exchange Contracts

Note 11. Foreign Exchange Contracts

As of June 28, 2013, the net amount of unrealized losses with respect to the Company’s foreign exchange contracts that is expected to be reclassified into earnings within the next 12 months was $46 million. In addition, as of June 28, 2013, the Company did not have any foreign exchange contracts with credit-risk-related contingent features. The Company opened $6.0 billion and $3.2 billion, and closed $4.5 billion and $3.2 billion, in foreign exchange contracts for the years ended June 28, 2013 and June 29, 2012, respectively. The fair value and balance sheet location of such contracts were as follows (in millions):

	Asset Derivatives						Liability Derivatives
	2013			2012			2013			2012
Derivatives Designated as Hedging Instruments	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Foreign exchange contracts	Other current assets	$	—	Other current assets	$	1	Accrued expenses	$	57	Accrued expenses	$	22

The impact on the consolidated financial statements was as follows (in millions):

Derivatives in Cash	Amount of Gain (Loss) Recognized in Accumulated OCI on Derivatives					Location of Gain Reclassified from Accumulated OCI into Income	Amount of Gain Reclassified from Accumulated OCI into Income
Flow Hedging Relationships	2013		2012				2013		2012
Foreign exchange contracts	$	13	$	(12	)	Cost of revenue	$	43	$	1

The total net realized transaction and foreign exchange contract currency gains and losses were not material to the consolidated financial statements during 2013, 2012 and 2011, respectively. See Notes 1 and 10 for additional disclosures related to the Company’s foreign exchange contracts.