Balance Sheet Information (Tables)

3 Months Ended

Sep. 29, 2017

Disclosure Text Block Supplement [Abstract]

Summary of fair value and amortized cost of investments, by major type

The following table summarizes, by major type, the fair value and amortized cost of the Company’s investments as of June 30, 2017: 

(Dollars in millions)	Amortized Cost		Unrealized Gain/(Loss)		Fair Value
Available-for-sale securities:
Money market funds	$	594	$	—	$	594
Time deposits and certificates of deposit	584		—		584
Total	$	1,178	$	—	$	1,178
Included in Cash and cash equivalents					$	1,174
Included in Other current assets					4
Total					$	1,178

The following table summarizes, by major type, the fair value and amortized cost of the Company’s investments as of September 29, 2017: 

(Dollars in millions)	Amortized Cost		Unrealized Gain/(Loss)		Fair Value
Available-for-sale securities:
Money market funds	$	623	$	—	$	623
Time deposits and certificates of deposit	207		—		207
Total	$	830	$	—	$	830
Included in Cash and cash equivalents					$	826
Included in Other current assets					4
Total					$	830

Fair value and amortized cost of available-for-sale securities by contractual maturity

The fair value and amortized cost of the Company’s investments classified as available-for-sale as of September 29, 2017, by remaining contractual maturity were as follows:

(Dollars in millions)	Amortized Cost		Fair Value
Due in less than 1 year	$	830	$	830
Due in 1 to 5 years	—		—
Due in 6 to 10 years	—		—
Thereafter	—		—
Total	$	830	$	830

Cash, cash equivalents, and restricted cash

The following table provides a summary of cash, cash equivalents, and restricted cash reported within the Condensed Consolidated Balance Sheets that reconciles to the corresponding amount in the Condensed Consolidated Statements of Cash Flows:

(Dollars in millions)	September 29, 2017		June 30, 2017		September 30, 2016		July 1, 2016
Cash and cash equivalents	$	2,285	$	2,539	$	1,489	$	1,125
Restricted cash included in Other current assets	4		4		6		7
Total cash, cash equivalents, and restricted cash shown in the Statements of Cash Flows	$	2,289	$	2,543	$	1,495	$	1,132

Inventories

The following table provides details of the inventory balance sheet item: 

(Dollars in millions)	September 29, 2017		June 30, 2017
Raw materials and components	$	327	$	350
Work-in-process	275		257
Finished goods	412		375
	$	1,014	$	982

Property, Equipment and Leasehold Improvements, net

The components of property, equipment and leasehold improvements, net, were as follows:

(Dollars in millions)	September 29, 2017			June 30, 2017
Property, equipment and leasehold improvements	$	9,529		$	9,633
Accumulated depreciation and amortization	(7,712		)	(7,758		)
	$	1,817		$	1,875

Accrued expenses

The following table provides details of the accrued expenses balance sheet item: 

(Dollars in millions)	September 29, 2017		June 30, 2017
Dividends payable	$	182	$	184
Other accrued expenses	476		466
Total	$	658	$	650

Schedule of accumulated other comprehensive income (loss)

The components of AOCI, net of tax, were as follows:

(Dollars in millions)	Unrealized Gains (Losses) on Cash Flow Hedges			Unrealized Gains (Losses) on Marketable Securities		Unrealized Gains (Losses) on Post-Retirement Plans			Foreign Currency Translation Adjustments			Total
Balance at June 30, 2017	$	—		$	—	$	(5	)	$	(12	)	$	(17	)
Other comprehensive income (loss) before reclassifications	—			—		—			4			4
Amounts reclassified from AOCI	—			—		—			—			—
Other comprehensive income (loss)	—			—		—			4			4
Balance at September 29, 2017	$	—		$	—	$	(5	)	$	(8	)	$	(13	)
Balance at July 1, 2016	$	(1	)	$	—	$	(7	)	$	(17	)	$	(25	)
Other comprehensive income (loss) before reclassifications	(1		)	—		—			1			—
Amounts reclassified from AOCI	1			—		—			—			1
Other comprehensive income (loss)	—			—		—			1			1
Balance at September 30, 2016	$	(1	)	$	—	$	(7	)	$	(16	)	$	(24	)