Pensions and Other Post-retirement Benefit Plans (Tables)

12 Months Ended

Jun. 28, 2013

Compensation And Retirement Disclosure [Abstract]

The changes in the benefit obligations and plan assets for the Japanese defined benefit pension plans were as follows for 2013 and 2012 (in millions):


	2013			2012
Change in benefit obligation:
Benefit obligation at beginning of period	$	286		$	279
Service cost		11			4
Interest cost		5			2
Actuarial gain		(4	)		—
Benefits paid		(6	)		(2	)
Non-U.S. currency movement		(58	)		3

Benefit obligation at end of period		234			286

Change in plan assets:
Fair value of plan assets at beginning of period		167			162
Actual return on plan assets		29			(1	)
Employer contributions		15			6
Benefits paid		(6	)		(2	)
Non-U.S. currency movement		(38	)		2

Fair value of plan assets at end of period		167			167

Unfunded status at end of year	$	67		$	119

Unfunded Amounts Recognized on Consolidated Balance Sheets

The following table presents the unfunded amounts as recognized on the Company’s consolidated balance sheets as of June 28, 2013 and June 29, 2012 (in millions):


	2013		2012
Current liabilities	$	1	$	3
Non-current liabilities		66		116

Net amount recognized	$	67	$	119

Weighted-Average Assumptions

The weighted-average actuarial assumptions used to determine benefit obligations for the Japanese defined benefit pension plans were as follows for 2013 and 2012:


	2013			2012
Discount rate		1.6	%		1.8	%
Rate of compensation increase		0.9	%		1.4	%

The weighted-average actuarial assumptions used to determine benefit costs for the Japanese defined benefit pension plans were as follows for 2013 and 2012:


	2013			2012
Discount rate		1.8	%		1.9	%
Expected long-term rate of return on plan assets		3.5	%		3.5	%
Rate of compensation increase		1.2	%		1.4	%

Japanese Defined Benefit Pension Plans' Major Asset Categories and Their Associated Fair Values

The following table presents the Japanese defined benefit pension plans’ major asset categories and their associated fair values as of June 28, 2013 (in millions):


	Level 1		Level 2		Level 3		Total
Equity:
Equity commingled/mutual funds ⁽²⁾⁽³⁾	$	—	$	60	$	—	$	60
Fixed income:
Fixed income commingled/mutual funds ⁽²⁾⁽⁵⁾		—		101		—		101
Cash and short-term investments ⁽²⁾		4		2		—		6

Fair value of plan assets	$	4	$	163	$	—	$	167

The following table presents the Japanese defined benefit pension plans’ major asset categories and their associated fair values as of June 29, 2012 (in millions):


	Level 1		Level 2		Level 3		Total
Equity:
Equity securities ⁽¹⁾	$	4	$	—	$	—	$	4
Equity commingled/mutual funds ⁽²⁾⁽³⁾		—		45		—		45
Fixed income:
Government and related ⁽⁴⁾		1		12		—		13
Fixed income commingled/mutual funds ⁽²⁾⁽⁵⁾		—		77		—		77
Other securities ⁽⁶⁾		—		9		—		9
Cash and short-term investments ⁽²⁾		8		4		—		12
Alternative investments:
Other ⁽⁷⁾		—		—		7		7

Fair value of plan assets	$	13	$	147	$	7	$	167

⁽¹⁾	Includes direct investments in equity of domestic and foreign companies, including those in developing countries.

⁽²⁾	Commingled funds represent pooled institutional investments.

⁽³⁾	Equity mutual funds invest primarily in equity securities.

⁽⁴⁾	Includes debt issued by national, state or local governments and related agencies.

⁽⁵⁾	Fixed income mutual funds invest primarily in fixed income securities.

⁽⁶⁾	Other securities include corporate bonds, insurance contracts and mortgage-backed securities.

⁽⁷⁾	Includes investments in hedge funds, venture capital funds, limited partnerships, private real estate, bank capital and collateral debt obligations such as private placement real estate funds.

- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

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