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Balance Sheet Information (Tables)
 12 Months Ended
Jul. 01, 2022
Disclosure Text Block Supplement [Abstract]  
Summary of Debt Securities, Available-for-sale
The following table summarizes, by major type, the fair value and amortized cost of the Company’s investments as of July 1, 2022 and July 2, 2021:
July 1,
2022		July 2,
2021
(Dollars in millions)Amortized
Cost		Unrealized
Gain/(Loss)		Fair
Value 		Amortized
Cost		Unrealized
Gain/(Loss)		Fair
Value
Available-for-sale debt securities:   
Money market funds$60 $— $60 $552 $— $552 
Time deposits and certificates of deposit1 — 1 1 — 1 
Other debt securities23 — 23 18 — 18 
Total$84 $— $84 $571 $— $571 
Included in Cash and cash equivalents $59 $551 
Included in Other current assets 2 2 
Included in Other assets, net23 18 
Total $84 $571 
Fair value and amortized cost of available-for-sale securities by contractual maturity July 1, 2022 by remaining contractual maturity were as follows:
(Dollars in millions)Amortized
Cost		Fair
Value
Due in less than 1 year$61 $61 
Due in 1 to 5 years15 15 
Due in 6 to 10 years— — 
Thereafter8 8 
Total$84 $84 
Cash, Cash Equivalent, and Restricted Cash
The following table provides a summary of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that reconciles to the corresponding amount in the Consolidated Statements of Cash Flows:
(Dollars in millions)July 1,
2022		July 2,
2021		July 3,
2020		June 28,
2019
Cash and cash equivalents$615 $1,209 $1,722 $2,220 
Restricted cash included in Other current assets2 2 2 31 
Total cash, cash equivalents and restricted cash shown in the Statements of Cash Flows$617 $1,211 $1,724 $2,251 
Schedule of Cash and Cash Equivalents
The following table provides a summary of cash, cash equivalents and restricted cash reported within the Consolidated Balance Sheets that reconciles to the corresponding amount in the Consolidated Statements of Cash Flows:
(Dollars in millions)July 1,
2022		July 2,
2021		July 3,
2020		June 28,
2019
Cash and cash equivalents$615 $1,209 $1,722 $2,220 
Restricted cash included in Other current assets2 2 2 31 
Total cash, cash equivalents and restricted cash shown in the Statements of Cash Flows$617 $1,211 $1,724 $2,251 
Accounts Receivable, net
The following table provides details of the accounts receivable, net balance sheet item:
(Dollars in millions)July 1,
2022		July 2,
2021
Accounts receivable$1,536 $1,162 
Allowances for expected credit losses
(4)(4)
Account receivable, net$1,532 $1,158 
Accounts Receivable, Allowance for Credit Loss
Activity in the expected credit losses accounts is as follows:
(Dollars in millions)Balance at Beginning of PeriodCharges (Credit) to Operations
Deductions (1)
Balance at End of Period
Fiscal year ended July 3, 2020$4 1 — $5 
Fiscal year ended July 2, 2021$5 — (1)$4 
Fiscal year ended July 1, 2022$4 — — $4 
______________________________________________
(1)    Uncollectible accounts written off, net of recoveries.
Inventories
The following table provides details of the inventory balance sheet item:
(Dollars in millions)July 1,
2022		July 2,
2021
Raw materials and components$601 $375 
Work-in-process414 443 
Finished goods550 386 
Total inventories$1,565 $1,204 
Property, Equipment and Leasehold Improvements, net
The components of property, equipment and leasehold improvements, net were as follows:
(Dollars in millions)Useful Life in YearsJuly 1,
2022		July 2,
2021
Land and land improvements $47 $47 
Equipment
3 – 7
8,473 8,250 
Buildings and leasehold improvements
Up to 30
1,893 1,881 
Construction in progress 246 200 
 10,659 10,378 
Less: accumulated depreciation and amortization (8,420)(8,197)
Property, equipment and leasehold improvements, net $2,239 $2,181 
Accrued Expenses
The following table provides details of the accrued expenses balance sheet item:
(Dollars in millions)July 1,
2022		July 2,
2021
Dividends payable$147 $153 
Other accrued expenses449 455 
Total$596 $608 
Accumulated Other Comprehensive Income (Loss)
The components of AOCI, net of tax, were as follows:
(Dollars in millions)Unrealized Gains/(Losses) on Cash Flow HedgesUnrealized Gains/(Losses) on Post-Retirement PlansForeign Currency Translation AdjustmentsTotal
Balance at July 3, 2020$(24)$(26)$(16)$(66)
Other comprehensive income before reclassifications 15 1 15 31 
Amounts reclassified from AOCI(9)3 — (6)
Other comprehensive income6 4 15 25 
Balance at July 2, 2021(18)(22)(1)(41)
Other comprehensive income before reclassifications 48 6 — 54 
Amounts reclassified from AOCI21 2 — 23 
Other comprehensive income69 8 — 77 
Balance at July 1, 2022$51 $(14)$(1)$36