Derivative Financial Instruments (Tables)

3 Months Ended

Sep. 27, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of gross fair value of derivative instruments

The gross notional and fair value of derivative instruments in the Condensed Consolidated Balance Sheets as of September 27, 2024 and June 28, 2024 were as follows:

			As of September 27, 2024
			Derivative Assets			Derivative Liabilities
(Dollars in millions)	Outstanding Gross Notional		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments:
Foreign currency forward exchange contracts	$	—	Other current assets	$	—	Accrued expenses	$	—
Derivatives not designated as hedging instruments:
Foreign currency forward exchange contracts	294		Other current assets	1		Accrued expenses	—
Total return swap	115		Other current assets	—		Accrued expenses	(1)
Total derivatives	$	409		$	1		$	(1)

			As of June 28, 2024
			Derivative Assets			Derivative Liabilities
(Dollars in millions)	Outstanding Gross Notional		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments:
Foreign currency forward exchange contracts	$	35	Other current assets	$	—	Accrued expenses	$	(1)
Derivatives not designated as hedging instruments:
Foreign currency forward exchange contracts	165		Other current assets	1		Accrued expenses	—
Total return swap	112		Other current assets	—		Accrued expenses	—
Total derivatives	$	312		$	1		$	(1)