0001193125-25-085694 | S-1 | XBRL Viewer

Employee Termination and Other Charges

Note 13. Employee Termination and Other Charges

Business Realignment

The Company periodically incurs charges to realign its operations with anticipated market demand, primarily consisting of organization rationalization designed to streamline its business, reduce its cost structure and focus its resources. The Company has taken actions to reduce the amount of capital invested in facilities, including the sale-leaseback of its facility in Milpitas, California, in September 2023, as discussed in Note 10,

Leases and Other Commitments

of the Notes to Condensed Combined Financial Statements.

The Company recorded the following net charges related to these actions for the periods presented:


	Six Months Ended
	December 27, 2024		December 29, 2023
	(in millions)
Employee termination benefits	$	2	$	14
Contract termination and other		3		—
Gain on sale-leaseback of facility		—		(60	)

Total employee termination and other charges	$	5	$	(46	)

The termination benefits accrual balance as of December 27, 2024 and the periodic activity during the six months ended December 27, 2024 were not material.

The Flash Business of Western Digital Corporation [Member]

Employee Termination and Other Charges

Note 13. Employee Termination, Asset Impairment and Other

Business Realignment

The Business periodically incurs charges to realign its operations with anticipated market demand, primarily consisting of organization rationalization designed to streamline its business, reduce its cost structure and focus its resources. The Business may also record credits related to gains upon the sale of property in connection with these activities. The Business recognized a loss of $5 million related to asset impairment and other charges and a gain of $60 million related to the sale and leaseback of the Milpitas facility for the fiscal year ended June 28, 2024, a loss of $1 million on the disposal of assets associated with these activities for the fiscal year ended June 30, 2023, and a gain of $9 million related to business divestitures partially offset by a $3 million loss on the disposal of assets associated with these activities for the fiscal year ended July 1, 2022.

The Business recorded the following charges related to these actions:


	2024			2023		2022
	(in millions)
Employee termination benefits	$	15		$	68	$	22
Other charges (gains):
Asset impairments and other charges (gains)		5			1		(6	)
Gain on sale-leaseback of facility (see Note 10)		(60	)		—		—

Total employee termination, asset impairment and other	$	(40	)	$	69	$	16

The following table presents an analysis of the components of the activity against the reserve, which consisted entirely of employee termination benefits, during the year ended June 28, 2024.


	Employee Termination Benefits
	(in millions)
Accrual balance at June 30, 2023	$	3
Charges		15
Cash payments	$	(18	)

Accrual balance at June 28, 2024	$	—

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Employee Benefit Plans - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022	Dec. 31, 2021	Dec. 27, 2024
Defined Contribution Plan Disclosure [Line Items]
Net funded (unfunded) status	$ (6)				$ (7)
The Flash Business of Western Digital Corporation [Member]
Defined Contribution Plan Disclosure [Line Items]
Net funded (unfunded) status	(6)	$ (5)
Defined contribution plan employer matching contribution percent of match				50.00%
Defined contribution plan employers matching contribution annual vesting percentage				6.00%
Defined contribution plan, cost	$ 5	$ 9	$ 15
The Flash Business of Western Digital Corporation [Member] \| Combined Pre Tax And Roth Basis [Member]
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, maximum Annual contributions per employee, percent				75.00%
The Flash Business of Western Digital Corporation [Member] \| Combined Pre Tax Catch Up And Roth Catch Up Basis [Member]
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, maximum Annual contributions per employee, percent				10.00%
The Flash Business of Western Digital Corporation [Member] \| Non Roth After Tax Basis [Member]
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, maximum Annual contributions per employee, percent				10.00%
The Flash Business of Western Digital Corporation [Member] \| Combined Pre Tax And Roth Basis Regardless Of Age [Member]
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, maximum Annual contributions per employee, percent				85.00%
The Flash Business of Western Digital Corporation [Member] \| After Tax Basis [Member]
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, maximum Annual contributions per employee, percent				10.00%

Supplemental Financial Statement Data - Schedule of Inventories (Details) - USD ($) $ in Millions	Dec. 27, 2024	Jun. 28, 2024	Jun. 30, 2023
Income Tax Expense [Line Items]
Raw materials and component parts	$ 1,661	$ 1,398
Work-in-process	208	237
Finished goods	303	320
Total inventories	$ 2,172	1,955
The Flash Business of Western Digital Corporation [Member]
Income Tax Expense [Line Items]
Raw materials and component parts		1,398	$ 1,754
Work-in-process		237	182
Finished goods		320	333
Total inventories		$ 1,955	$ 2,269

Supplemental Financial Statement Data

6 Months Ended

12 Months Ended

Dec. 27, 2024

Jun. 28, 2024

Supplemental Financial Statement Data

Note 5. Supplemental Financial Statement Data

Goodwill

The following table provides a summary of goodwill activity for the period presented:


	(in millions)
Balance at June 28, 2024	$	7,207
Divestiture (1)		(382	)

Balance at December 27, 2024	$	6,825

(1)	On September 28, 2024, the Company sold its majority interest in a subsidiary. See further discussion in Part 1, Item 1, Note 9, Related Parties and Related Commitments and Contingencies .

Goodwill attributed to the Company represents the historical goodwill balances in WDC’s business arising from acquisitions specific to the Company.

The Company determined that its single operating segment was also its single reporting unit. Goodwill is not amortized. Instead, it is tested for impairment annually as of the beginning of the Company’s fourth quarter or more frequently if events or changes in circumstances indicate that goodwill may be impaired. The Company uses qualitative factors to determine whether goodwill is more likely than not impaired and whether a quantitative test for impairment is considered necessary. If the Company concludes from the qualitative assessment that goodwill is more likely than not impaired, the Company is required to perform a quantitative approach to determine the amount of impairment.

The Company is required to use judgment when assessing goodwill for impairment, including evaluating the impact of industry and macroeconomic conditions and the determination of the fair value of the reporting unit. In

addition, the estimates and assumptions used to determine the fair value as well as the actual carrying value may change based on future changes in the Company’s results of operations, macroeconomic conditions or other factors. Changes in these estimates and assumptions could materially affect the Company’s assessment of the fair value and goodwill impairment. In addition, if negative macroeconomic conditions continue or worsen, goodwill could become impaired, which could result in an impairment charge and materially adversely affect the Company’s financial condition and results of operations.

For the six months ended December 29, 2023, there were

impairment charges recorded. In the six months ended December 27, 2024, the Company identified macroeconomic conditions and other qualitative factors indicating a potential impairment of goodwill at December 27, 2024. The Company conducted a quantitative analysis of the fair value of its sole reporting unit to determine the existence and magnitude of any potential goodwill impairment. The quantitative analysis employed a weighted valuation model, assessing the fair value of the reporting unit using both income and market approaches.

The income approach valued the projected discounted cash flows that are expected to be generated by the Company’s reporting unit and required judgments and estimates surrounding general economic conditions and company-specific performance inputs such as revenue growth rates, gross margins, operating costs, capital expenditures, assumed tax rates and other assumptions deemed reasonable by management. The market approach valued the reporting unit based upon financial performance and market multiples of comparable public companies, including consideration of a control premium representing the estimated amount a market participant would pay to obtain a controlling interest in the Company. After completion of the quantitative analysis, the Company determined that the fair value of its reporting unit exceeded its carrying value by 12%, resulting in no impairment charges recorded in the three and six months ended December 27, 2024. See Note 15,

Subsequent Events

, for information about a potential impairment of goodwill for the three months end

March 28, 2025.

Accounts receivable, net

From time to time, in connection with factoring agreements, WDC sells certain of our trade accounts receivable without recourse to third-party purchasers in exchange for cash. During the six months ended December 27, 2024, there were no trade accounts receivable of the Company sold by WDC. During the six months ended December 29, 2023, WDC sold trade accounts receivable of the Company and received cash proceeds of $272 million. The discounts on the trade accounts receivable sold during the period were not material and were recorded within Other expense, net in the Condensed Combined Statements of Operations. There were no factored receivables outstanding as of December 27, 2024 and June 28, 2024.

Inventories


	December 27, 2024		June 28, 2024
	(in millions)
Inventories:
Raw materials and component parts	$	1,661	$	1,398
Work-in-process		208		237
Finished goods		303		320

Total inventories	$	2,172	$	1,955

Property, plant and equipment, net


	December 27, 2024			June 28, 2024
	(in millions)
Property, plant and equipment:
Land	$	10		$	10
Machinery and equipment		1,463			2,340
Buildings and improvements		280			397
Computer equipment and software		153			123
Furniture and fixtures		18			16
Construction-in-process		114			108

Property, plant and equipment, gross		2,038			2,994
Accumulated depreciation		(1,459	)		(2,203	)

Property, plant and equipment, net	$	579		$	791

Product warranty liability

Changes in the warranty accrual were as follows:


	Six Months Ended
	December 27, 2024			December 29, 2023
	(in millions)
Warranty accrual, beginning of period	$	48		$	42
Charges to operations		9			15
Utilization		(17	)		(17	)
Changes in estimate related to pre-existing warranties		4			3

Warranty accrual, end of period	$	44		$	43

The current portion of the warranty accrual was classified in Accrued expenses and the long-term portion was classified in Other liabilities as noted below:


	December 27, 2024		June 28, 2024
	(in millions)
Warranty accrual:
Current portion	$	22	$	27
Long-term portion		22		21

Total warranty accrual	$	44	$	48

Other liabilities


	December 27, 2024		June 28, 2024
	(in millions)
Other liabilities:
Non-current lease liability	$	179	$	171
Non-current net tax payable		66		56
Other non-current liabilities		62		59

Total other liabilities	$	307	$	286

Accumulated other comprehensive loss

Accumulated other comprehensive loss (“AOCL”), net of tax, refers to expenses, gains, and losses that are recorded as an element of equity but are excluded from net income. The components of AOCL were as follows:


	Foreign Currency Translation Adjustment			Unrealized Income (Losses) on Derivative Contracts			Total Accumulated Comprehensive Loss
	(in millions)
Balance at June 28, 2024	$	(208	)	$	(244	)	$	(452	)
Other comprehensive income (loss)		(35	)		74			39
Income tax expense related to items of other comprehensive income		—			(15	)		(15	)

Net current-period other comprehensive income (loss)		(35	)		59			24
Net transfer to Parent		—			(6	)		(6	)

Balance at December 27, 2024	$	(243	)	$	(191	)	$	(434	)

During the six months ended December 27, 2024, the amounts reclassified out of AOCL were losses related to foreign exchange contracts, substantially all of which were charged to Cost of revenue in the Condensed Combined Statements of Operations.

As of December 27, 2024, substantially all existing net losses related to cash flow hedges recorded in AOCL are expected to be reclassified to earnings within the next twelve months.

The Flash Business of Western Digital Corporation [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Supplemental Financial Statement Data

Note 5. Supplemental Financial Statement Data

Goodwill

The following table provides a summary of goodwill activity for the periods presented:


	(in millions)
Balance at July 2, 2021	$	7,912
Reduction in goodwill in connection with disposition of business		(14	)
Foreign currency translation adjustment		(11	)

Balance at July 1, 2022		7,887
Impairment		(671	)
Foreign currency translation adjustment		(4	)

Balance at June 30, 2023		7,212
Foreign currency translation adjustment		(5	)

Balance at June 28, 2024	$	7,207

The Business determined that its single operating segment was also its single reporting unit. Goodwill is not amortized. Instead, it is tested for impairment annually as of the beginning of the Business’s fourth quarter, or more frequently if events or changes in circumstances indicate that goodwill may be impaired. The Business uses qualitative factors to determine whether goodwill is

more-likely-than-not

impaired and whether a quantitative test for impairment is considered necessary. If the Business concludes from the qualitative assessment that goodwill is

more-likely-than-not-impaired,

the Business is required to perform a quantitative approach to determine the amount of impairment.

Management did not identify any impairment indicators as of June 28, 2024 and did not incur any goodwill impairment charges for 2024. During fiscal year 2023, management identified several factors, including changes in industry and macroeconomic conditions, that warranted a quantitative analysis of impairment for the Business. The fair value of the operating segment was based on a weighting of two valuation methodologies: an income approach and a market approach.

The income approach was based on the present value of the projected discounted cash flows (“DCF”) expected to be generated by the operating segment. Those projections required the use of significant estimates and assumptions specific to the reporting unit as well as those based on general economic conditions, which included, among other factors, revenue growth rates, gross margins, operating costs, capital expenditures, assumed tax rates and other assumptions deemed reasonable by management. The present value was based on applying a weighted average cost of capital (“WACC”) which considered long-term interest rates and cost of equity based on the Business’s risk profile.

The market approach was based on a guideline Business method, which analyzed market multiples of revenue for a group of comparable public companies.

The Business reconciled the aggregated estimated fair value of the operating segment to our Parent’s market capitalization, including consideration of a control premium representing the estimated amount a market participant would pay to obtain a controlling interest in the Business.

Management determined that the carrying value of the reporting unit exceeded its fair value as derived from the valuation methodologies described above, resulting in recognition of a $671 million impairment charge for the fiscal year ended June 30, 2023.

The Business is required to use judgment when assessing goodwill for impairment, including evaluating the impact of industry and macroeconomic conditions and the determination of the fair value of the reporting unit. In addition, the estimates used to determine the fair value of the reporting unit as well as the actual carrying value may change based on future changes in the Business’s results of operations, macroeconomic conditions or other factors. Changes in these estimates could materially affect the Business’s assessment of the fair value and goodwill impairment. In addition, if negative macroeconomic conditions continue or worsen, goodwill could become further impaired, which could result in an additional impairment charge and materially adversely affect the Business’s financial condition and results of operations.

In May 2022, the Business decided to exit its

RISC-V

development operations and completed the sale of a portion of the business for $25 million. The sale of this business included the transfer of a small number of employees and an immaterial amount of other tangible and intangible assets as well as goodwill. The transaction resulted in a gain of approximately $9 million recorded in employee termination, asset impairment and other charges in the Combined Statements of Operations for the fiscal year ended July 1, 2022. The revenues and expenses related to this business were not material to the Combined Financial Statements and did not qualify to

be reported as a discontinued operation. The operating results of this business have been reflected in the Business’s results from continuing operations in the Combined Statements of Operations through the date of disposition.

Accounts receivable, net

From time to time, in connection with factoring agreements, our Parent sells certain of our trade accounts receivable without recourse to third-party purchasers in exchange for cash. In 2024, 2023 and 2022 the Parent sold trade accounts receivable of the Business and received cash proceeds of $339 million, $370 million and $103 million, respectively. The discounts on the trade accounts receivable sold during the periods were not material and were recorded within other income (expense), net in the Combined Statements of Operations. No factored receivables were outstanding as of June 28, 2024, and $70 million of factored receivables remained outstanding as of June 30, 2023.

Inventories


	June 28, 2024		June 30, 2023
	(in millions)
Inventories:
Raw materials and component parts	$	1,398	$	1,754
Work-in-process		237		182
Finished goods		320		333

Total inventories	$	1,955	$	2,269

Property, plant and equipment, net


	June 28, 2024			June 30, 2023
	(in millions)
Property, plant and equipment:
Land	$	10		$	35
Buildings and improvements		397			479
Machinery and equipment		2,340			2,280
Computer equipment and software		123			121
Furniture and fixtures		16			15
Construction-in-process		108			86

Property, plant and equipment, gross		2,994			3,016
Accumulated depreciation		(2,203	)		(2,083	)

Property, plant and equipment, net	$	791		$	933

Depreciation expense for property, plant and equipment totaled $224 million, $315 million and $306 million in 2024, 2023 and 2022, respectively.

Intangible assets

Intangibles are amortized over the estimated useful life based on the pattern in which the economic benefits are expected to be received. As of June 28, 2024 and June 30, 2023, all finite-lived intangible assets were fully amortized. During 2024, 2023 and 2022, the Business did not record any impairment charges related to finite-lived intangible assets.

Intangible asset amortization was as follows:


	2024		2023		2022
	(in millions)
Intangible asset amortization	$	—	$	133	$	219

Product warranty liability

Changes in the warranty accrual were as follows:


	2024			2023			2022
	(in millions)
Warranty accrual, beginning of period	$	42		$	52		$	48
Charges to operations		28			30			35
Utilization		(34	)		(26	)		(19	)
Changes in estimate related to pre-existing warranties		12			(14	)		(12	)

Warranty accrual, end of period	$	48		$	42		$	52

The current portion of the warranty accrual is classified in accrued expenses and the long-term portion is classified in other liabilities as noted below:


	2024		2023
	(in millions)
Warranty accrual:
Current portion (included in Accrued expenses)	$	27	$	23
Long-term portion (included in Other liabilities)		21		19

Total warranty accrual	$	48	$	42

Other liabilities

Other liabilities are as follows:


	2024		2023
	(in millions)
Other liabilities:
Non-current net tax payable	$	56	$	30
Long-term lease liability		171		88
Other non-current liabilities		59		61

Total other liabilities	$	286	$	179

Accumulated other comprehensive loss

Accumulated other comprehensive loss (“AOCL”), net of tax refers to expenses, gains and losses that are recorded as an element of equity but are excluded from net income (loss). The following table illustrates the changes in the balances of each component of AOCL:


	Foreign Currency Translation Adjustment			Unrealized Gain (Loss) on Derivative Contracts			Total Accumulated Comprehensive Loss
	(in millions)
Balance at July 1, 2022		(130	)		(277	)		(407	)
Other comprehensive income (loss)		(35	)		128			93
Income tax expense related to items of other comprehensive income (loss)		—			(29	)		(29	)

Net current-period other comprehensive income (loss)		(35	)		99			64

Balance at June 30, 2023		(165	)		(178	)		(343	)
Other comprehensive loss		(43	)		(87	)		(130	)
Income tax benefit related to items of other comprehensive loss		—			21			21

Net current-period other comprehensive loss		(43	)		(66	)		(109	)

Balance at June 28, 2024	$	(208	)	$	(244	)	$	(452	)

Income Tax Expense - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Millions	6 Months Ended
	Dec. 27, 2024	Dec. 29, 2023
Income Tax Disclosure [Abstract]
Income (loss) before taxes	$ 440	$ (754)
Income tax expense	$ 125	$ 65
Effective tax rate	28.00%	(9.00%)

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

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Related Parties and Related Commitments and Contingencies (Tables)

6 Months Ended

12 Months Ended

Dec. 27, 2024

Jun. 28, 2024

Schedule of Related Party Transactions

The following table presents the notes receivable from, and equity investments in, Flash Ventures for the periods presented:


	December 27, 2024		June 28, 2024
	(in millions)
Notes receivable, Flash Partners	$	72	$	1
Notes receivable, Flash Alliance		35		5
Notes receivable, Flash Forward		476		485
Investment in Flash Partners		41		148
Investment in Flash Alliance		118		219
Investment in Flash Forward		129		143

Total notes receivable and investments in Flash Ventures	$	871	$	1,001

The following presents a summary of the outstanding borrowings between the Company and subsidiaries of WDC for the periods presented, inclusive of any associated interest payable or interest receivable:


	Interest Rate	December 27, 2024		June 28, 2024
		(in millions)
Notes due from Parent
Revolving Credit Agreement due from Parent $101M - Oct. 3, 2019	AFR Rate (USD) or TIBOR + .35% (YEN)	$	—	$	(102	)

Total Notes due from Parent			—		(102	)

Notes due to Parent
Revolving Credit Agreement due to Parent $1B - Sep. 27, 2024	SOFR + 1.6%		553		—
Notes due to Parent $500M - Nov. 25, 2014	1-year swap + 2%		—		475


	Interest Rate	December 27, 2024		June 28, 2024
		(in millions)
Notes Due to Parent $42B Yen - Apr. 29, 2014	TIBOR + .35%		—		262
Revolving Credit Agreement due to Parent $100M - Aug. 20, 2021	LIBOR Rate + 150 basis points		—		77

Total Notes due to Parent			553		814

	Total Notes due to Parent, net	$	553	$	712

The following presents interest expense and interest income on notes due to (from) Parent, which have been recorded within Interest expense and Interest income in the Condensed Combined Statements of Operations for the periods presented:


	Six Months Ended
	December 27, 2024			December 29, 2023
	(in millions)
Interest expense on notes due to Parent	$	4		$	20
Interest income on notes due from Parent	$	(1	)	$	(3	)

The table below summarizes the impact of expense allocations from WDC within the Condensed Combined Statements of Operations for the periods presented:


	Six Months Ended
	December 27, 2024		December 29, 2023
	(in millions)
Research and development	$	189	$	330
Selling general, and administrative		148		219
Business separation costs		41		34
Employee termination and other charges		5		(46	)

Total allocation of Corporate Expenses	$	383	$	537

A reconciliation of Net transfers from (to) Parent on the Condensed Combined Statements of Changes in Parent Company Net Investment to the corresponding amounts on the Condensed Combined Statements of Cash Flows is as follows:


	Six Months Ended
	December 27, 2024			December 29, 2023
	(in millions)
Net transfers from Parent per Condensed Combined Statements of Changes in Parent Company Net Investment	$	491		$	171
Liability for unrecognized tax benefits transferred from Parent		14			—
Accumulated other comprehensive loss transferred from Parent		6			—
Strategic investments transferred from Parent		(7	)		—
Other assets and liabilities, net transferred from Parent		(37	)		—
Property, plant and equipment, net transferred from Parent		(25	)		(2	)
Notes due to Parent transferred from Parent		(673	)		—
Notes due from Parent transferred to Parent		—			113
Deferred taxes, net transferred from Parent		—			(8	)

Net transfers from (to) Parent per Condensed Combined Statements of Cash Flows	$	(231	)	$	274

Schedule of Variable Interest Entities

The Company’s maximum reasonably estimable loss exposure (excluding lost profits) as a result of its involvement with Flash Ventures, based upon the Japanese yen to U.S. dollar exchange rate at December 27, 2024, is presented below. Investments in Flash Ventures are denominated in Japanese yen, and the maximum estimable loss exposure excludes any cumulative translation adjustment due to revaluation from the Japanese yen to the U.S. dollar.


	December 27, 2024
	(in millions)
Notes receivable	$	583
Equity investments		288
Operating lease guarantees		1,343
Inventory and prepayments		1,393

Maximum estimable loss exposure	$	3,607

Schedule of Guarantor Obligations

The following table presents the Company’s portion of the remaining guarantee obligations under the Flash Ventures’ lease facilities in both Japanese yen and U.S. dollar-equivalent, based upon the Japanese yen to U.S. dollar exchange rate as of December 27, 2024:


	Lease Amounts
	(Japanese yen, in billions)		(U.S. dollar, in millions)
Total guarantee obligations	¥	212	$	1,343

The following table details the breakdown of the Company’s remaining guarantee obligations between the principal amortization and the purchase option exercise price at the end of the term of the Flash Ventures lease agreements, in annual installments, in U.S. dollars, based upon the Japanese yen to U.S. dollar exchange rate as of December 27, 2024:


Annual Installments	Payment of Principal Amortization		Purchase Option Exercise Price at Final Lease Terms		Guarantee Amount
	(in millions)
Remaining six months of 2025	$	201	$	49	$	250
2026		406		113		519
2027		198		97		295
2028		83		93		176
2029		25		50		75
2030		4		24		28

Total guarantee obligations	$	917	$	426	$	1,343

The Flash Business of Western Digital Corporation [Member]

Schedule of notes receivable from, and equity investments

The following table presents the notes receivable from, and equity investments in, Flash Ventures for the periods presented:


	June 28, 2024		June 30, 2023
	(in millions)
Notes receivable, Flash Partners	$	1	$	37
Notes receivable, Flash Alliance		5		48
Notes receivable, Flash Forward		485		709
Investment in Flash Partners		148		160
Investment in Flash Alliance		219		274
Investment in Flash Forward		143		183

Total notes receivable and investments in Flash Ventures	$	1,001	$	1,411

A reconciliation of Net transfers from (to) Parent on the Combined Statements of Changes in Parent Company Net Investment to the corresponding amounts on the Combined Statements of Cash Flows is as follows:


	Years Ended
	June 28, 2024			June 30, 2023			July 1, 2022
	(in millions)
Net transfers from (to) Parent per Combined Statement of Changes in Parent Company Net Investment	$	275		$	376		$	(922	)
Property, plant and equipment, net transferred from Parent		(11	)		(18	)		(13	)
Deferred taxes, net transferred to Parent		17			2			2
Notes due from Parent transferred to Parent		113			316			—

Net transfers from (to) Parent per Combined Statements of Cash Flows	$	394		$	676		$	(933	)

The table below summarizes the impact of expense allocations from WDC within the Combined Statements of Operations for the periods presented:


	Years Ended
	June 28, 2024			June 30, 2023		July 1, 2022
	(in millions)
Research and development	$	723		$	750	$	884
Selling, general and administrative		418			452		470
Employee termination, asset impairment and other		(40	)		61		(2	)
Business separation costs		64			—		—

Total allocation of Corporate expenses	$	1,165		$	1,263	$	1,352

The following presents interest expense and interest income on notes due to (from) Parent, which have been recorded within interest expense and interest income in the Combined Statements of Operations for the periods presented:


	Years Ended
	June 28, 2024			June 30, 2023			July 1, 2022
	(in millions)
Interest income on notes due from Parent	$	6		$	16		$	3
Interest expense on notes due to Parent	$	(37	)	$	(29	)	$	(13	)

Schedule of Related Party Transactions

The following presents a summary of the outstanding borrowings between the Business and subsidiaries of the Parent for the periods presented, inclusive of any associated interest receivable or interest payable:


Notes due to (from) Parent	Interest Rate	June 28, 2024			June 30, 2023
Notes due from Parent			(in millions)
Revolving Credit Agreement due from Parent $101M - Oct. 3, 2019	AFR Rate (USD) or TIBOR + .35% (YEN)	$	(102	)	$	—
Notes due from Parent $40M - Dec. 19, 2018	.15% through Dec. 2021, .33% through Dec. 2022 and 4.55% through Maturity Date		—			(40	)
Notes due from Parent $10M - Mar. 29, 2019	1.5% through Mar 2022, .97% through Mar. 2023, and 4.5% through Maturity Date		—			(10	)
Notes due from Parent $8M - Jul. 25, 2019	.18% through Jul 2021, .12% through July 2022, and 2.37% through Maturity Date		—			(8	)
Revolving Credit Agreement due from Parent $1B - Dec. 20, 2019	AFR Rate (USD) or TIBOR + .35% (YEN)		—			(4	)
Revolving Credit Agreement due from Parent $100M October 27, 2021	LIBOR Rate + 150 basis points		—			(1	)

Total Notes due from Parent			(102	)		(63	)
Notes due to Parent
Notes due to Parent $500M - Nov. 25, 2014	1-year swap + 2%		475			467
Notes Due to Parent $42B Yen - April 29, 2014	TIBOR + .35%		262			291
Revolving Credit Agreement due to Parent $100M - Aug. 20, 2021	LIBOR Rate + 150 basis points		77			77
Revolving Credit Agreement due to Parent $1B - Dec. 20, 2019	AFR Rate (USD) or TIBOR + .35% (YEN)		—			29
Revolving Credit Agreement due to Parent - $1B - Dec. 20, 2019	AFR Rate (USD) or TIBOR + .35% (YEN)		—			24
Notes Due to Parent $60M - Feb. 22 2023	Safe Notice Rate - 6.698%		—			31

Total Notes due to Parent			814			919

	Total Notes due to Parent, net	$712			$856

Schedule of Variable Interest Entities

The Business’s maximum reasonably estimable loss exposure (excluding lost profits) as a result of its involvement with Flash Ventures, based upon the Japanese yen to U.S. dollar exchange rate at June 28, 2024, is presented below. Investments in Flash Ventures are denominated in Japanese yen, and the maximum estimable loss exposure excludes any cumulative translation adjustment due to revaluation from the Japanese yen to the U.S. dollar.


		June 28, 2024
		(in millions)
Notes receivable	$	491
Equity investments		510
Operating lease guarantees		1,299
Inventory and prepayments		1,069

Maximum estimable loss exposure	$	3,369

Schedule of Guarantor Obligations

The following table presents the Business’s portion of the remaining guarantee obligations under the Flash Ventures’ lease facilities in both Japanese yen and U.S. dollar-equivalent, based upon the Japanese yen to U.S. dollar exchange rate:


	June 28, 2024 Lease Amounts
	(Japanese yen, in billions)		(U.S. dollar, in millions)
Total guarantee obligations	¥	208	$	1,299

The following table details the breakdown of the Business’s remaining guarantee obligations between the principal amortization and the purchase option exercise price at the end of the term of the Flash Ventures lease agreements, in annual installments as of June 28, 2024, in U.S. dollars, based upon the Japanese yen to U.S. dollar exchange rate as of June 28, 2024:


Annual Installments	Payment of Principal Amortization		Purchase Option Exercise Price at Final Lease Terms		Guarantee Amount
	(in millions)
2025	$	285	$	74	$	359
2026		359		111		470
2027		164		95		259
2028		58		92		150
2029		11		50		61

Total guarantee obligations	$	877	$	422	$	1,299

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

Related Parties and Related Commitments and Contingencies - Net Transfer From (to) Parent (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended		12 Months Ended
	Dec. 27, 2024	Sep. 27, 2024	Dec. 29, 2023	Sep. 29, 2023	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Related Party Transaction [Line Items]
Net transfer from Parent	$ (92)	$ 583	$ 152	$ 19			$ 275	$ 376	$ (922)
Non-cash transfers of liability for unrecognized tax benefits transferred from Parent					$ 14	$ 0
Non-cash transfers of strategic investments from Parent					7	0
Non-cash transfers of other assets and liabilities, net, from Parent					37	0
Non-cash transfers of property, plant and equipment from Parent					25	2
Non-cash transfers of Notes due to Parent transferred from Parent					673	0
Non-cash transfers of Notes due from Parent transferred to Parent					0	113
Non-cash transfers of deferred taxes from Parent					0	8
The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Net transfer from Parent							275	376	(922)
Non-cash transfers of property, plant and equipment from Parent							11	18	13
Non-cash transfers of Notes due from Parent transferred to Parent							(113)	(316)	0
Related Party
Related Party Transaction [Line Items]
Net transfer from Parent					491	171
Non-cash transfers of liability for unrecognized tax benefits transferred from Parent					14	0
Accumulated other comprehensive loss transferred from Parent					6	0
Non-cash transfers of strategic investments from Parent					(7)	0
Non-cash transfers of other assets and liabilities, net, from Parent					(37)	0
Non-cash transfers of property, plant and equipment from Parent					(25)	(2)
Non-cash transfers of Notes due to Parent transferred from Parent					(673)	0
Non-cash transfers of Notes due from Parent transferred to Parent					0	113
Non-cash transfers of deferred taxes from Parent					0	(8)
Net transfers from (to) Parent per Condensed Combined Statements of Cash Flows					$ (231)	$ 274
Related Party \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Non-cash transfers of property, plant and equipment from Parent							(11)	(18)	(13)
Non-cash transfers of Notes due from Parent transferred to Parent							113	316	0
Non-cash transfers of deferred taxes from Parent							17	2	2
Net transfers from (to) Parent per Condensed Combined Statements of Cash Flows							$ 394	$ 676	$ (933)

Leases and Other Commitments - Schedule of Minimum Long-Term Commitments (Details) - USD ($) $ in Millions	Dec. 27, 2024	Jun. 28, 2024
Purchase Obligation, Fiscal Year Maturity [Abstract]
Remaining six months of 2025	$ 26
2026	496
2027	586
2028	570
2029	570
Thereafter	660
Total	$ 2,908
The Flash Business of Western Digital Corporation [Member]
Purchase Obligation, Fiscal Year Maturity [Abstract]
Remaining six months of 2025		$ 43
2026		51
2027		32
2028		20
2029		20
Thereafter		110
Total		$ 276

Related Parties and Related Commitments and Contingencies - Schedule of Guarantor Obligations (Details) $ in Millions, ¥ in Billions	Dec. 27, 2024 USD ($)	Dec. 27, 2024 JPY (¥)	Jun. 28, 2024 USD ($)	Jun. 28, 2024 JPY (¥)
Related Party
Loss Contingencies [Line Items]
Total guarantee obligations	$ 1,343	¥ 212	$ 1,299	¥ 208

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Related Parties and Related Commitments and Contingencies - Sale of Majority Interest (Details) $ in Millions					3 Months Ended	6 Months Ended		12 Months Ended
	Jan. 06, 2025 USD ($)	Oct. 01, 2024 USD ($)	Sep. 29, 2024 USD ($)	Sep. 28, 2024 USD ($) installment	Dec. 27, 2024 USD ($)	Dec. 27, 2024 USD ($)	Dec. 29, 2023 USD ($)	Jun. 27, 2025 USD ($)	Jun. 28, 2024
Related Party Transaction [Line Items]
Proceeds from dispositions of business						$ 191	$ 0
Equity investment				$ 158
SDSS
Related Party Transaction [Line Items]
Commitment term			5 years
Purchase commitment amount			$ 550
SDSS \| Certain Flash-Based Products
Related Party Transaction [Line Items]
Commitment purchases						111
Accounts payable					$ 117	117
SDSS
Related Party Transaction [Line Items]
Ownership percentage				20.00%
Disposed of by sale
Related Party Transaction [Line Items]
Ownership percentage sold				80.00%
Proceeds from dispositions of business		$ 262
Disposal consideration				$ 659
Installment payment				37
Consideration receivable					370	370
Present value discount					27	$ 27
Gain on disposal					34
Cash and cash equivalents				71
Goodwill				$ 382
Disposed of by sale \| Subsequent Event
Related Party Transaction [Line Items]
Proceeds from dispositions of business	$ 210
Disposed of by sale \| SDSS
Related Party Transaction [Line Items]
Number of installment payments \| installment				5
Term of effective interest method						5 years
Disposed of by sale \| Other current assets
Related Party Transaction [Line Items]
Consideration receivable					243	$ 243
Disposed of by sale \| Other noncurrent assets
Related Party Transaction [Line Items]
Consideration receivable					$ 127	$ 127
Disposed of by sale \| Forecast
Related Party Transaction [Line Items]
Proceeds from dispositions of business								$ 187
SDSS \| Disposed of by sale
Related Party Transaction [Line Items]
Ownership percentage sold									80.00%

Income Tax Expense - Reconciliation of the U.S. federal statutory rate (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Income Tax Expense [Line Items]
Effective income tax rate	28.00%	(9.00%)
The Flash Business of Western Digital Corporation [Member]
Income Tax Expense [Line Items]
Tax at federal statutory tax rate			$ 21.0	$ 21.0	$ 21.0
Tax rate differential on international incomes			(42.3)	(28.7)	0.4
Foreign withholding tax			(10.8)	(1.7)	2.9
Change in valuation allowance			(2.2)	(0.4)	1.4
Tax effect of U.S foreign income inclusion			(1.2)	(0.4)	5.8
Tax effect of U.S foreign derived intangible income			1.9	3.1	(7.6)
Tax effect of permanent differences			(1.4)	(0.5)	(0.1)
Tax effect of goodwill impairment			0.0	(7.0)	0.0
Tax effect of intangible assets			0.9	4.3	(6.5)
Tax rate change			0.6	0.1	0.0
Unremitted earnings of certain non-U.S. entities			2.2	0.4	0.0
Change in uncertain tax positions			(11.4)	0.6	0.5
Return to provision adjustment			(1.3)	(0.2)	(0.5)
Foreign Income Tax Credits			5.1	1.4	(2.4)
R&D tax credits			2.7	1.0	(2.1)
Tax effect of share-based compensation			(1.1)	(0.5)	0.9
Federal audit settlements			3.3	0.0	0.0
Other			$ 0.4	$ 0.5	$ 0.1
Effective income tax rate			(33.60%)	(7.00%)	13.80%

Income Tax Expense - Schedule of the major foreign jurisdictions where there is no tax holiday (Details) - The Flash Business of Western Digital Corporation [Member]	12 Months Ended
	Jun. 28, 2024
China (calendar) \| Maximum [Member]
Income Tax Expense [Line Items]
Income Tax Examination, Year under Examination	2023
China (calendar) \| Minimum [Member]
Income Tax Expense [Line Items]
Income Tax Examination, Year under Examination	2014
Ireland (fiscal) \| Maximum [Member]
Income Tax Expense [Line Items]
Income Tax Examination, Year under Examination	2023
Ireland (fiscal) \| Minimum [Member]
Income Tax Expense [Line Items]
Income Tax Examination, Year under Examination	2020
India (fiscal) \| Maximum [Member]
Income Tax Expense [Line Items]
Income Tax Examination, Year under Examination	2023
India (fiscal) \| Minimum [Member]
Income Tax Expense [Line Items]
Income Tax Examination, Year under Examination	2009
Israel (fiscal) \| Maximum [Member]
Income Tax Expense [Line Items]
Income Tax Examination, Year under Examination	2023
Israel (fiscal) \| Minimum [Member]
Income Tax Expense [Line Items]
Income Tax Examination, Year under Examination	2014
Japan (fiscal) \| Maximum [Member]
Income Tax Expense [Line Items]
Income Tax Examination, Year under Examination	2023
Japan (fiscal) \| Minimum [Member]
Income Tax Expense [Line Items]
Income Tax Examination, Year under Examination	2017
Malaysia (fiscal) \| Maximum [Member]
Income Tax Expense [Line Items]
Income Tax Examination, Year under Examination	2023
Malaysia (fiscal) \| Minimum [Member]
Income Tax Expense [Line Items]
Income Tax Examination, Year under Examination	2017
Singapore (fiscal) \| Maximum [Member]
Income Tax Expense [Line Items]
Income Tax Examination, Year under Examination	2023
Singapore (fiscal) \| Minimum [Member]
Income Tax Expense [Line Items]
Income Tax Examination, Year under Examination	2020
United Kingdom (fiscal) \| Maximum [Member]
Income Tax Expense [Line Items]
Income Tax Examination, Year under Examination	2023
United Kingdom (fiscal) \| Minimum [Member]
Income Tax Expense [Line Items]
Income Tax Examination, Year under Examination	2022

Related Parties and Related Commitments and Contingencies - Additional Information (Details) - USD ($)	1 Months Ended	6 Months Ended		12 Months Ended
	Feb. 28, 2022	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Related Party Transaction [Line Items]
Payments for building depreciation				$ 290,000,000
Property, Plant and Equipment, Net		$ 579,000,000		791,000,000
The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Costs incurred associated with reduction in utilization	$ 207,000,000			36,000,000
Property, Plant and Equipment, Net				791,000,000	$ 933,000,000
Flash Ventures \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Property, Plant and Equipment, Net				$ 162,000,000
Ownership percentage				49.90%
Kioxia [Member] \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Ownership percentage				50.10%
Related Party
Related Party Transaction [Line Items]
Accounts payable		$ 369,000,000		$ 313,000,000
Investment funding commitments, percentage		50.00%
Manufacturing capacity percent operating		100.00%
Costs incurred associated with reduction in utilization		$ 0	$ 249,000,000
Related Party \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Accounts payable				$ 313,000,000	292,000,000
Investment funding commitments, percentage				50.00%
Manufacturing capacity percent operating				100.00%
Costs incurred associated with reduction in utilization				$ 249,000,000	286,000,000
Related Party \| Flash Ventures
Related Party Transaction [Line Items]
Payments for equity method investments		2,000,000,000	$ 1,800,000,000
Accounts payable		252,000,000		313,000,000
Related Party \| Flash Ventures \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Payments for equity method investments				3,350,000,000	4,200,000,000	$ 4,700,000,000
Accounts payable				313,000,000	$ 292,000,000
Related Party \| K1, K2, And Y7 Facilities \| Future Building Depreciation Payments
Related Party Transaction [Line Items]
Other commitment		944,000,000
Related Party \| K1, K2, And Y7 Facilities \| Future Building Depreciation Payments \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Other commitment				74,000,000
Related Party \| K1, K2, And Y7 Facilities \| Future Building Depreciation Payments \| Other current assets
Related Party Transaction [Line Items]
Other commitment		124,000,000
Related Party \| K1, K2, And Y7 Facilities \| Future Building Depreciation Payments \| Other noncurrent assets
Related Party Transaction [Line Items]
Other commitment		$ 840,000,000
Related Party \| K1, K2, And Y7 Facilities \| Future Building Depreciation Payments \| Other noncurrent assets \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Other commitment				523,000,000
Related Party \| Flash Ventures \| Future Building Depreciation Payments
Related Party Transaction [Line Items]
Other Commitment, Exchange Rate		157.86
Other commitment		$ 303,000,000
To be paid remainder of fiscal year		60,000,000
To be paid year one		30,000,000
To be paid year two		111,000,000
To be paid year three		89,000,000
To be paid year four		13,000,000
Payments for building depreciation		$ 107,000,000
Related Party \| Flash Ventures \| Future Building Depreciation Payments \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Other commitment				610,000,000
To be paid remainder of fiscal year				372,000,000
To be paid year one				29,000,000
To be paid year two				109,000,000
To be paid year three				87,000,000
To be paid year four				$ 13,000,000
Related Party \| Western Digital Corp \| Minimum
Related Party Transaction [Line Items]
Investment funding commitments, percentage		49.90%
Related Party \| Western Digital Corp \| Minimum \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Investment funding commitments, percentage				49.90%
Related Party \| Western Digital Corp \| Maximum
Related Party Transaction [Line Items]
Investment funding commitments, percentage		50.00%
Related Party \| Western Digital Corp \| Maximum \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Investment funding commitments, percentage				50.00%

Income Tax Expense - Schedule of Unrecognized Tax Benefits (Details) $ in Millions	6 Months Ended
	Dec. 27, 2024 USD ($)
Unrecognized Tax Benefits [Roll Forward]
Unrecognized tax benefit, beginning balance	$ 47
Gross increases related to prior year tax positions	17
Gross increases related to current year tax positions	3
Gross decreases related to prior year tax positions	(7)
Unrecognized tax benefit, ending balance	$ 60

Geographic Information and Concentrations of Risk - Schedule of f Long Lived Assets (Details) - USD ($) $ in Millions	Dec. 27, 2024	Jun. 28, 2024	Jun. 30, 2023
Disaggregation Of Long Lived Assets [Line Items]
Property, plant and equipment, Net	$ 579	$ 791
The Flash Business of Western Digital Corporation [Member]
Disaggregation Of Long Lived Assets [Line Items]
Property, plant and equipment, Net		791	$ 933
The Flash Business of Western Digital Corporation [Member] \| UNITED STATES
Disaggregation Of Long Lived Assets [Line Items]
Property, plant and equipment, Net		77	154
The Flash Business of Western Digital Corporation [Member] \| CHINA
Disaggregation Of Long Lived Assets [Line Items]
Property, plant and equipment, Net		249	298
The Flash Business of Western Digital Corporation [Member] \| MALAYSIA
Disaggregation Of Long Lived Assets [Line Items]
Property, plant and equipment, Net		388	390
The Flash Business of Western Digital Corporation [Member] \| Asia Pacific [Member]
Disaggregation Of Long Lived Assets [Line Items]
Property, plant and equipment, Net		4	4
The Flash Business of Western Digital Corporation [Member] \| EMEA [Member]
Disaggregation Of Long Lived Assets [Line Items]
Property, plant and equipment, Net		$ 73	$ 87

Related Parties and Related Commitments and Contingencies - Combined Consolidated Income Statement (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Related Party Transaction [Line Items]
Interest expense	$ 6	$ 22
Interest income	(5)	(6)
Research and development	562	486
Selling, general and administrative	272	231
Business separation costs	41	34
Employee termination, asset impairment and other	5	(46)
Total operating expenses	846	705
The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Interest expense			$ 40	$ 31	$ 15
Interest income			(12)	(21)	(6)
Research and development			1,061	1,167	1,362
Selling, general and administrative			455	558	666
Business separation costs			64	0	0
Employee termination, asset impairment and other			(40)	69	16
Total operating expenses			1,540	2,465	2,044
Related Party
Related Party Transaction [Line Items]
Interest expense	4	20
Interest income	(1)	(3)
Research and development	189	330
Selling, general and administrative	148	219
Business separation costs	41	34
Employee termination, asset impairment and other	5	(46)
Total operating expenses	$ 383	$ 537
Related Party \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Interest expense			6	16	3
Interest income			(37)	(29)	(13)
Research and development			723	750	884
Selling, general and administrative			418	452	470
Business separation costs			64	0	0
Employee termination, asset impairment and other			(40)	61	(2)
Total operating expenses			$ 1,165	$ 1,263	$ 1,352

Employee Termination and Other Charges (Tables)

6 Months Ended

12 Months Ended

Dec. 27, 2024

Jun. 28, 2024

Schedule of Restructuring Reserve by Type of Cost

The Company recorded the following net charges related to these actions for the periods presented:


	Six Months Ended
	December 27, 2024		December 29, 2023
	(in millions)
Employee termination benefits	$	2	$	14
Contract termination and other		3		—
Gain on sale-leaseback of facility		—		(60	)

Total employee termination and other charges	$	5	$	(46	)

The Flash Business of Western Digital Corporation [Member]

Schedule of Restructuring Reserve by Type of Cost

The Business recorded the following charges related to these actions:


	2024			2023		2022
	(in millions)
Employee termination benefits	$	15		$	68	$	22
Other charges (gains):
Asset impairments and other charges (gains)		5			1		(6	)
Gain on sale-leaseback of facility (see Note 10)		(60	)		—		—

Total employee termination, asset impairment and other	$	(40	)	$	69	$	16

Schedule of Employee Termination Benefits

The following table presents an analysis of the components of the activity against the reserve, which consisted entirely of employee termination benefits, during the year ended June 28, 2024.


	Employee Termination Benefits
	(in millions)
Accrual balance at June 30, 2023	$	3
Charges		15
Cash payments	$	(18	)

Accrual balance at June 28, 2024	$	—

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Supplemental Financial Statement Data (Tables)

6 Months Ended

12 Months Ended

Dec. 27, 2024

Jun. 28, 2024

Carrying Amount of Goodwill

The following table provides a summary of goodwill activity for the period presented:


	(in millions)
Balance at June 28, 2024	$	7,207
Divestiture (1)		(382	)

Balance at December 27, 2024	$	6,825

(1)	On September 28, 2024, the Company sold its majority interest in a subsidiary. See further discussion in Part 1, Item 1, Note 9, Related Parties and Related Commitments and Contingencies .

Schedule of Inventories

Inventories


	December 27, 2024		June 28, 2024
	(in millions)
Inventories:
Raw materials and component parts	$	1,661	$	1,398
Work-in-process		208		237
Finished goods		303		320

Total inventories	$	2,172	$	1,955

Schedule of Property, Plant and Equipment, Net

Property, plant and equipment, net


	December 27, 2024			June 28, 2024
	(in millions)
Property, plant and equipment:
Land	$	10		$	10
Machinery and equipment		1,463			2,340
Buildings and improvements		280			397
Computer equipment and software		153			123
Furniture and fixtures		18			16
Construction-in-process		114			108

Property, plant and equipment, gross		2,038			2,994
Accumulated depreciation		(1,459	)		(2,203	)

Property, plant and equipment, net	$	579		$	791

Schedule of Product Warranty Liability

Product warranty liability

Changes in the warranty accrual were as follows:


	Six Months Ended
	December 27, 2024			December 29, 2023
	(in millions)
Warranty accrual, beginning of period	$	48		$	42
Charges to operations		9			15
Utilization		(17	)		(17	)
Changes in estimate related to pre-existing warranties		4			3

Warranty accrual, end of period	$	44		$	43

The current portion of the warranty accrual was classified in Accrued expenses and the long-term portion was classified in Other liabilities as noted below:


	December 27, 2024		June 28, 2024
	(in millions)
Warranty accrual:
Current portion	$	22	$	27
Long-term portion		22		21

Total warranty accrual	$	44	$	48

Schedule of Other Liabilities

Other liabilities


	December 27, 2024		June 28, 2024
	(in millions)
Other liabilities:
Non-current lease liability	$	179	$	171
Non-current net tax payable		66		56
Other non-current liabilities		62		59

Total other liabilities	$	307	$	286

Schedule of Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss


	Foreign Currency Translation Adjustment			Unrealized Income (Losses) on Derivative Contracts			Total Accumulated Comprehensive Loss
	(in millions)
Balance at June 28, 2024	$	(208	)	$	(244	)	$	(452	)
Other comprehensive income (loss)		(35	)		74			39
Income tax expense related to items of other comprehensive income		—			(15	)		(15	)

Net current-period other comprehensive income (loss)		(35	)		59			24
Net transfer to Parent		—			(6	)		(6	)

Balance at December 27, 2024	$	(243	)	$	(191	)	$	(434	)

The Flash Business of Western Digital Corporation [Member]

Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]

Carrying Amount of Goodwill

The following table provides a summary of goodwill activity for the periods presented:


	(in millions)
Balance at July 2, 2021	$	7,912
Reduction in goodwill in connection with disposition of business		(14	)
Foreign currency translation adjustment		(11	)

Balance at July 1, 2022		7,887
Impairment		(671	)
Foreign currency translation adjustment		(4	)

Balance at June 30, 2023		7,212
Foreign currency translation adjustment		(5	)

Balance at June 28, 2024	$	7,207

Schedule of Inventories

Inventories


	June 28, 2024		June 30, 2023
	(in millions)
Inventories:
Raw materials and component parts	$	1,398	$	1,754
Work-in-process		237		182
Finished goods		320		333

Total inventories	$	1,955	$	2,269

Schedule of Property, Plant and Equipment, Net

Property, plant and equipment, net


	June 28, 2024			June 30, 2023
	(in millions)
Property, plant and equipment:
Land	$	10		$	35
Buildings and improvements		397			479
Machinery and equipment		2,340			2,280
Computer equipment and software		123			121
Furniture and fixtures		16			15
Construction-in-process		108			86

Property, plant and equipment, gross		2,994			3,016
Accumulated depreciation		(2,203	)		(2,083	)

Property, plant and equipment, net	$	791		$	933

Summary Finite Lived Intangible Assets Amortization Expense

Intangible asset amortization was as follows:


	2024		2023		2022
	(in millions)
Intangible asset amortization	$	—	$	133	$	219

Schedule of Product Warranty Liability

Product warranty liability

Changes in the warranty accrual were as follows:


	2024			2023			2022
	(in millions)
Warranty accrual, beginning of period	$	42		$	52		$	48
Charges to operations		28			30			35
Utilization		(34	)		(26	)		(19	)
Changes in estimate related to pre-existing warranties		12			(14	)		(12	)

Warranty accrual, end of period	$	48		$	42		$	52

The current portion of the warranty accrual is classified in accrued expenses and the long-term portion is classified in other liabilities as noted below:


	2024		2023
	(in millions)
Warranty accrual:
Current portion (included in Accrued expenses)	$	27	$	23
Long-term portion (included in Other liabilities)		21		19

Total warranty accrual	$	48	$	42

Schedule of Other Liabilities

Other liabilities

Other liabilities are as follows:


	2024		2023
	(in millions)
Other liabilities:
Non-current net tax payable	$	56	$	30
Long-term lease liability		171		88
Other non-current liabilities		59		61

Total other liabilities	$	286	$	179

Schedule of Accumulated Other Comprehensive Loss


	Foreign Currency Translation Adjustment			Unrealized Gain (Loss) on Derivative Contracts			Total Accumulated Comprehensive Loss
	(in millions)
Balance at July 1, 2022		(130	)		(277	)		(407	)
Other comprehensive income (loss)		(35	)		128			93
Income tax expense related to items of other comprehensive income (loss)		—			(29	)		(29	)

Net current-period other comprehensive income (loss)		(35	)		99			64

Balance at June 30, 2023		(165	)		(178	)		(343	)
Other comprehensive loss		(43	)		(87	)		(130	)
Income tax benefit related to items of other comprehensive loss		—			21			21

Net current-period other comprehensive loss		(43	)		(66	)		(109	)

Balance at June 28, 2024	$	(208	)	$	(244	)	$	(452	)

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Fair Value Measurements and Investments - Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Dec. 27, 2024	Jun. 28, 2024	Jun. 30, 2023
Assets [Abstract]
Total assets at fair value	$ 249	$ 35
Liabilities
Total liabilities at fair value	145	179
The Flash Business of Western Digital Corporation [Member]
Assets [Abstract]
Total assets at fair value		35	$ 31
Liabilities
Total liabilities at fair value		179	171
Foreign exchange contracts
Assets [Abstract]
Derivative Asset	17	7
Liabilities
Derivative liability	145	179
Foreign exchange contracts \| The Flash Business of Western Digital Corporation [Member]
Assets [Abstract]
Derivative Asset		7	31
Liabilities
Derivative liability		179	171
Cash equivalents - Money market funds
Assets [Abstract]
Cash equivalents - Money market funds	232	28
Cash equivalents - Money market funds \| The Flash Business of Western Digital Corporation [Member]
Assets [Abstract]
Cash equivalents - Money market funds		28
Level 1
Assets [Abstract]
Total assets at fair value	232	28
Liabilities
Total liabilities at fair value	0	0
Level 1 \| The Flash Business of Western Digital Corporation [Member]
Assets [Abstract]
Total assets at fair value		28	0
Liabilities
Total liabilities at fair value		0	0
Level 1 \| Foreign exchange contracts
Assets [Abstract]
Derivative Asset	0	0
Liabilities
Derivative liability	0	0
Level 1 \| Foreign exchange contracts \| The Flash Business of Western Digital Corporation [Member]
Assets [Abstract]
Derivative Asset		0	0
Liabilities
Derivative liability		0	0
Level 1 \| Cash equivalents - Money market funds
Assets [Abstract]
Cash equivalents - Money market funds	232	28
Level 1 \| Cash equivalents - Money market funds \| The Flash Business of Western Digital Corporation [Member]
Assets [Abstract]
Cash equivalents - Money market funds		28
Level 2
Assets [Abstract]
Total assets at fair value	17	7
Liabilities
Total liabilities at fair value	145	179
Level 2 \| The Flash Business of Western Digital Corporation [Member]
Assets [Abstract]
Total assets at fair value		7	31
Liabilities
Total liabilities at fair value		179	171
Level 2 \| Foreign exchange contracts
Assets [Abstract]
Derivative Asset	17	7
Liabilities
Derivative liability	145	179
Level 2 \| Foreign exchange contracts \| The Flash Business of Western Digital Corporation [Member]
Assets [Abstract]
Derivative Asset		7	31
Liabilities
Derivative liability		179	171
Level 2 \| Cash equivalents - Money market funds
Assets [Abstract]
Cash equivalents - Money market funds	0	0
Level 2 \| Cash equivalents - Money market funds \| The Flash Business of Western Digital Corporation [Member]
Assets [Abstract]
Cash equivalents - Money market funds		0
Level 3
Assets [Abstract]
Total assets at fair value	0	0
Liabilities
Total liabilities at fair value	0	0
Level 3 \| The Flash Business of Western Digital Corporation [Member]
Assets [Abstract]
Total assets at fair value		0	0
Liabilities
Total liabilities at fair value		0	0
Level 3 \| Foreign exchange contracts
Assets [Abstract]
Derivative Asset	0	0
Liabilities
Derivative liability	0	0
Level 3 \| Foreign exchange contracts \| The Flash Business of Western Digital Corporation [Member]
Assets [Abstract]
Derivative Asset		0	0
Liabilities
Derivative liability		0	$ 0
Level 3 \| Cash equivalents - Money market funds
Assets [Abstract]
Cash equivalents - Money market funds	$ 0	0
Level 3 \| Cash equivalents - Money market funds \| The Flash Business of Western Digital Corporation [Member]
Assets [Abstract]
Cash equivalents - Money market funds		$ 0

Employee Benefit Plans	6 Months Ended	12 Months Ended
Employee Benefit Plans	Dec. 27, 2024	Jun. 28, 2024
Defined Contribution Plan Disclosure [Line Items]
Employee Benefit Plans	Note 8. Employee Benefit Plans Defined Benefit Plan The Company sponsors a defined benefit pension plan that is solely available for employees located in South Korea. As of December 27, 2024, and June 28, 2024, the plan had a net unfunded status of $7 million and $6 million, respectively, classified as Other liabilities on the Condensed Combined Balance Sheets. Total pension expense included in Cost of revenue and Operating expenses in the Condensed Combined Statements of Operations was not material for the six months ended December 27, 2024 and December 29, 2023. No employees of the Company participate in defined benefit pension plans sponsored by WDC or its subsidiaries.
The Flash Business of Western Digital Corporation [Member]
Defined Contribution Plan Disclosure [Line Items]
Employee Benefit Plans		Note 8. Employee Benefit Plans Defined Benefit Plans The Business sponsors a defined benefit pension plan that is solely available for employees located in South Korea. As of June 28, 2024, and June 30, 2023, the plan had a net unfunded status of $6 million and $5 million, respectively, reported within other liabilities on the Combined Balance Sheets. Total pension expense included in cost of revenue and operating expenses in the Combined Statements of Operations was not material for each of the fiscal years ended June 28, 2024, June 30, 2023, and July 1, 2022. No employees of the Business participate in defined benefit pension plans sponsored by the Parent or its subsidiaries. Defined Contribution Plans Our eligible employees participate in a 401(k)-matching program, Western Digital Corporation 401(k) Plan (the “Plan”), maintained by the Parent. The Plan covers substantially all domestic employees, subject to certain eligibility requirements. Eligible employees receive employer matching contributions immediately upon hire unless the individual is covered by a collective bargaining agreement, provides services as a consultant, intern, independent contractor, leased or temporary employee or otherwise is not treated as a common-law employee. Through December 31, 2021, eligible employees were generally able to contribute up to 75% of their eligible compensation on a combined pre-tax and Roth basis, 10% on a combined pre-tax catch-up and Roth catch-up basis, and 10% on a non-Roth after-tax basis subject to Internal Revenue Service (“IRS”) limitations. Eligible employees are generally able to contribute up to 85% of their eligible compensation on a combined pre-tax and Roth basis regardless of age, and 10% of their eligible compensation on an after-tax basis, all subject to IRS limitations. The Business may make a basic matching contribution equal to 50% of each eligible participant’s contribution that does not exceed 6% of the eligible participant’s annual compensation in the year of contribution. Furthermore, the Business’s employer matching contributions vest immediately. Contributions, including the Business’s matching contribution to the Plan, are recorded as soon as administratively possible after the Business makes payroll deductions from Plan participants. Effective February 18, 2023, the Business announced its decision to suspend matching contributions through the end of the calendar year 2023. The Business later resumed matching contributions on January 1, 2024. For 2024, 2023 and 2022, the Plan contributions attributable to the Business were $5 million, $9 million and $15 million, respectively.

Income Tax Expense - Additional Information (Details) - USD ($) $ in Millions	Dec. 27, 2024	Jun. 28, 2024	Jun. 27, 2024	Jun. 30, 2023	Jul. 01, 2022	Jul. 02, 2021
Income Tax Expense [Line Items]
Unrecognized tax benefits	$ 60	$ 47	$ 47
Penalties and interest accrued on unrecognized tax benefits	$ 6	9
The Flash Business of Western Digital Corporation [Member]
Income Tax Expense [Line Items]
Unrecognized tax benefits		47		$ 25	$ 17	$ 11
Penalties and interest accrued on unrecognized tax benefits		9		5	5
NOL Carryforward Amount		0
The Flash Business of Western Digital Corporation [Member] \| Business Payables [Member]
Income Tax Expense [Line Items]
Penalties and interest accrued on unrecognized tax benefits		$ 56		$ 30	$ 22

Organization and Basis of Presentation	6 Months Ended	12 Months Ended
Organization and Basis of Presentation	Dec. 27, 2024	Jun. 28, 2024
Noncontrolling Interest [Line Items]
Organization and Basis of Presentation	Note 1. Organization and Basis of Presentation Description of the Company Sandisk Corporation (“Company,” “we,” “us,” or “our”) is a leading developer, manufacturer and provider of data storage devices and solutions based on NAND flash technology. With a differentiated innovation engine driving advancements in storage and semiconductor technologies, our broad and ever-expanding portfolio delivers powerful flash storage solutions for everyone from students, gamers, and home offices to the largest enterprises and public clouds to capture, preserve, access, and transform an ever-increasing diversity of data. The Company operates primarily in the United States (“U.S.”) and internationally, with a significant concentration in the Asia Pacific region. On October 30, 2023, our parent company, Western Digital Corporation (collectively “WDC” or “Parent”), announced that its board of directors (“WDC Board of Directors”) authorized management to pursue a plan to separate the Company into an independent public company. The separation received final approval by the WDC Board of Directors and was completed on February 21, 2025. WDC executed the spin-off of the Company through WDC’s pro rata distribution of 80.1% of the outstanding shares of common stock of the Company to holders of WDC’s common stock. Each WDC stockholder received one-third (1/3) of one share of the Company’s common stock for each share of WDC’s common stock held by such WDC stockholder as of February 12, 2025, the record date of the distribution. Upon completion of the separation, WDC owned 19.9% of the shares of the Company’s common stock, which WDC is expected to retain for a period of up to 12 months following the distribution. The completion of the spin-off was subject to certain conditions as described in our Registration Statement on Form 10, initially filed with the U.S. Securities and Exchange Commission (“SEC”) on November 25, 2024, and as further amended thereafter and declared effective on January 31, 2025 (as amended, the “Form 10”). In connection with the spin-off, the Company entered into or adopted several agreements that provide a framework for the relationships between the Company and WDC. See Note 9, Related Parties and Related Commitments and Contingencies , of the Notes to the Combined Financial Statements. The accounting policies followed by the Company are set forth in Note 1, Organization and Basis of Presentation , of the Notes to the Combined Financial Statements for the year ended June 28, 2024, included in Exhibit 99.1 to our Form 10. Unaudited Interim Financial Information The Company has prepared the accompanying Condensed Combined Financial Statements pursuant to the rules and regulations of the SEC for interim financial reporting. These Condensed Combined Financial Statements are unaudited and, in our opinion, include all adjustments, consisting of normal recurring adjustments and accruals necessary for a fair presentation of our operations, financial position, and cash flows for the periods presented. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the full fiscal year due to seasonal and other factors. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been omitted in accordance with the rules and regulations of the SEC. These Condensed Combined Financial Statements should be read in conjunction with the Company’s audited Combined Financial Statements and accompanying notes for the year ended June 28, 2024, included above. Basis of Presentation Throughout the periods covered by the Condensed Combined Financial Statements, the Company was an operating segment of WDC. Consequently, stand-alone interim financial statements were not historically prepared for the Company. The accompanying Condensed Combined Financial Statements have been prepared from WDC’s historical consolidated interim financial statements and accounting records and are presented on a stand-alone basis as if the Company’s operations had been conducted independently from WDC. The Company utilized allocations and carve-out methodologies to prepare these historic Condensed Combined Financial Statements. The Condensed Combined Financial Statements include the historical results of operations, financial position, and cash flows of the Company in accordance with GAAP, and the Company has adopted accounting policies and practices that are generally accepted in the industry in which it operates. As no single legal entity of the Company had a controlling financial interest in all other legal entities as of the reporting date, Condensed Combined Financial Statements have been prepared. Intercompany transactions have been eliminated. With the exception of balances associated with lending arrangements reflected within Notes due to (from) Parent in the Condensed Combined Balance Sheets, transactions between the Company and WDC are generally considered to be effectively settled in the Condensed Combined Financial Statements at the time the transactions are recorded. The total net effect of the settlement of these transactions is reflected in the Condensed Combined Statements of Cash Flows as a financing activity and in the Condensed Combined Balance Sheets as Parent company net investment. General financing activities include the net impact of any cash movements resulting from WDC’s centralized treasury cash management. The Condensed Combined Balance Sheets include all assets and liabilities that are specifically identifiable or otherwise attributable to the Company. Assets and liabilities shared between the Company and WDC are included in the stand-alone financial statements to the extent the asset is primarily used by the Company. If the Company is not the primary user of the asset, it is excluded entirely from the Condensed Combined Financial Statements. WDC has historically used a centralized approach to cash management and financing of its operations, as needed. Certain of our cash was transferred to WDC according to centrally managed cash programs by treasury, and WDC funded our operating and investing activities as needed. Cash transfers to and from WDC’s cash management accounts are reflected as a component of the Parent company net investment in the Condensed Combined Balance Sheets. Cash and cash equivalents in our Condensed Combined Balance Sheets primarily represent cash held locally by entities included in our Condensed Combined Financial Statements. None of the debt obligations of WDC or corresponding interest expense have been included in the accompanying Condensed Combined Financial Statements, as the Company is neither the legal obligor nor transferee for any portion of such debt. WDC’s debt obligations were secured by a lien on substantially all assets and properties of WDC and certain key subsidiaries, which included assets and properties of the Company prior to the completion of the separation. The Condensed Combined Statements of Operations and Comprehensive Income (Loss) include all revenues and costs directly attributable to the Company as well as an allocation of expenses related to facilities, functions and services provided by WDC. Allocation of general corporate expenses from WDC include, but are not limited to, executive management, finance, tax, legal, information technology, employee benefits administration, treasury, risk management, procurement, and other shared services. These corporate expenses have been allocated to the Company based on direct usage or benefit, where identifiable, with the remainder allocated based on headcount, revenue, or other relevant measures. The allocated costs are deemed to be settled between the Company and WDC in the period in which the expense was recorded in the Condensed Combined Statements of Operations. The Condensed Combined Statements of Cash Flows present these corporate expenses as cash flows from operating activities, as these costs were incurred by WDC on our behalf. We consider these allocations to be a reasonable reflection of the utilization of services by, or the benefits provided to, the Company. The allocations may not, however, reflect the expense the Company would have incurred as a stand-alone company for the periods presented. Additionally, these costs may not be indicative of the expenses that the Company will incur in the future or would have incurred if the Company had obtained these services from an unrelated third party. It is not practicable to estimate the actual costs that would have been incurred had the Company been a stand-alone company during the periods presented. The actual costs that may have been incurred would depend on a number of factors, including the chosen organizational structure, whether functions were outsourced or performed by employees, and decisions with respect to areas such as facilities, information technology, and operating infrastructure. WDC maintains various stock-based compensation plans at a corporate level. Employees of the Company participated in those programs and a portion of the compensation cost associated with those plans is included in the Company’s Condensed Combined Statements of Operations for the periods presented in this interim financial information. Stock-based compensation expense has been included within Parent company net investment. The amounts presented in the Condensed Combined Financial Statements are not necessarily indicative of future awards and may not reflect the results that the Company would have experienced as a stand-alone entity. Current and deferred income taxes and related tax expenses have been determined based on the stand-alone results of the Company by applying Accounting Standards Codification No. 740, Income Taxes, to the Company’s operations in each country as if it were a separate taxpayer (i.e., following the “Separate Return Methodology”). Fiscal Year The Company’s fiscal year ends on the Friday nearest to June 30 and typically consists of 52 weeks. Approximately every five to six years, we report a 53-week fiscal year to align the fiscal year with the foregoing policy. Fiscal year 2025, which will end on June 27, 2025, and fiscal year 2024, which ended on June 28, 2024, are each comprised of 52 weeks, with all quarters presented consisting of 13 weeks. Unless otherwise indicated, references herein to specific years and quarters are to fiscal years and fiscal quarters, and references to financial information are on a condensed combined basis. Segment Reporting Operating segments are components of an enterprise for which separate financial information is available and are evaluated regularly by the Company’s Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources and in assessing performance. The Company currently operates as both a single operating and reportable segment. Business Separation Costs On October 30, 2023, WDC announced that its Board of Directors had completed its strategic review and, after evaluating a comprehensive range of alternatives, authorized WDC to pursue a plan to separate its flash business from its hard disk drive business to create two independent public companies. As a result of the plan, the Company has incurred separation and transition costs related to the completion of its separation from WDC. The separation and transition costs are recorded within Business separation costs in the Condensed Combined Statements of Operations. Use of Estimates Management has made estimates and assumptions relating to the reporting of certain assets and liabilities in conformity with U.S. GAAP. These estimates and assumptions have been applied using methodologies that are consistent throughout the periods presented, with consideration given to the potential impacts of current macroeconomic conditions. However, actual results could differ materially from these estimates.
The Flash Business of Western Digital Corporation [Member]
Noncontrolling Interest [Line Items]
Organization and Basis of Presentation		Note 1. Organization and Basis of Presentation Description of the Business The accompanying Combined Financial Statements present, on a historical cost basis, the combined assets, liabilities, revenues and expenses of the flash business of Western Digital Corporation (the “Business”), a business of Western Digital Corporation and its subsidiaries (collectively “WDC” or “Parent”). The Business is a leading developer, manufacturer and provider of data storage devices and solutions based on NAND flash technology. With a differentiated innovation engine driving advancements in storage and semiconductor technologies, our broad and ever-expanding portfolio delivers powerful flash storage solutions for everyone from students, gamers and home offices to the largest enterprises and public clouds to capture, preserve, access and transform an ever-increasing diversity of data. The Business operates primarily in the U.S. and internationally with a significant concentration in Asia Pacific. On October 30, 2023, our Parent announced that its board of directors (the “WDC Board of Directors”) authorized management to pursue a plan to separate the Business into an independent public company. The completion of the separation is subject to certain conditions, including final approval by the WDC Board of Directors. Our Parent is targeting to complete the separation of the Business in the second half of calendar year 2024. The Business’s solutions include a broad range of solid-state drives, embedded products, removable cards, universal serial bus drives and wafers and components. The Business’s broad portfolio of technology and products address multiple end markets of “Cloud,” “Client” and “Consumer.” The Business also generates license and royalty revenue from its extensive intellectual property (“IP”) portfolio, which is included in each of these three end market categories. For the avoidance of doubt, when using the terms “we,” “us,” or “our” throughout this report, it is in reference to the Business. Basis of Presentation Throughout the periods covered by the Combined Financial Statements, the Business was an operating segment of WDC. Consequently, stand-alone financial statements have not historically been prepared for the Business. The accompanying Combined Financial Statements have been prepared from WDC’s historical consolidated financial statements and accounting records and are presented on a stand-alone basis as if the Business’s operations had been conducted independently from WDC. The Combined Financial Statements include the historical results of operations, financial position and cash flows of the Business in accordance with accounting principles generally accepted in the United States (“GAAP”) and the Business has adopted accounting policies and practices which are generally accepted in the industry in which it operates. As no single legal entity of the Business has a controlling financial interest in all other legal entities, Combined Financial Statements have been prepared. Intercompany transactions have been eliminated. With the exception of balances associated with lending arrangements reflected within Notes due to (from) Parent in the Combined Balance Sheets, transactions between the Business and the Parent are generally considered to be effectively settled in the Combined Financial Statements at the time the transactions are recorded. The total net effect of the settlement of these transactions is reflected in the Combined Statements of Cash Flows as a financing activity and in the Combined Balance Sheets as Parent company net investment. General financing activities include the net impact of any cash movements resulting from the Parent’s centralized treasury cash management. The Combined Statements of Operations and Comprehensive Income (Loss) include all revenues and costs directly attributable to the Business as well as an allocation of expenses related to facilities, functions and services provided by our Parent. Allocation of general corporate expenses from our Parent include, but are not limited to, executive management, finance, tax, legal, information technology, employee benefits administration, treasury, risk management, procurement and other shared services. These corporate expenses have been allocated to the Business based on direct usage or benefit, where identifiable, with the remainder allocated based on headcount, revenue or other relevant measures. The allocated costs are deemed to be settled between the Business and the Parent in the period in which the expense was recorded in the Combined Statements of Operations. The Combined Statements of Cash Flows present these corporate expenses as cash flows from operating activities, as these costs were incurred by our Parent on our behalf. We consider these allocations to be a reasonable reflection of the utilization of services by, or the benefits provided to, the Business. The allocations may not, however, reflect the expense the Business would have incurred as a standalone company for the periods presented. Additionally, these costs may not be indicative of the expenses that the Business will incur in the future or would have incurred if the Business had obtained these services from an unrelated third party. It is not practicable to estimate the actual costs that would have been incurred had the Business been a standalone company during the periods presented. The actual costs that may have been incurred would depend on a number of factors, including the chosen organizational structure, whether functions were outsourced or performed by employees and decisions with respect to areas such as facilities, information technology and operating infrastructure. Our Parent maintains various stock-based compensation plans at a corporate level. Employees of the Business participate in those programs and a portion of the compensation cost associated with those plans is included in the Business’s Combined Statements of Operations. Stock-based compensation expense has been included within Parent company net investment. The amounts presented in the Combined Financial Statements are not necessarily indicative of future awards and may not reflect the results that the Business would have experienced as a stand-alone entity. Current and deferred income taxes and related tax expense have been determined based on the stand-alone results of the Business by applying Accounting Standards Codification No. 740, Income Taxes (“ASC 740”), to the Business’s operations in each country as if it were a separate taxpayer (i.e., following the Separate Return Methodology). The Combined Balance Sheets include all assets and liabilities that are specifically identifiable or otherwise attributable to the Business. Assets and liabilities shared between the Business and the Parent were included in the stand-alone financial statements to the extent the asset is primarily used by the Business. If the Business is not the primary user of the asset, it was excluded entirely from the Combined Financial Statements. The Parent has historically used a centralized approach to cash management and financing of its operations, as needed. Certain of our cash is transferred to the Parent according to centrally managed cash programs by treasury and the Parent funds our operating and investing activities as needed. Cash transfers to and from the Parent’s cash management accounts are reflected as a component of Parent company net investment in the Combined Balance Sheets. Cash and cash equivalents in our Combined Balance Sheets primarily represent cash held locally by entities included in our Combined Financial Statements. None of the debt obligations of the Parent or corresponding interest expense have been included in the accompanying Combined Financial Statements, as the Business is neither the legal obligor, nor transferee for any portion of such debt. Our Parent’s debt obligations are secured by a lien on substantially all assets and properties of WDC and certain key subsidiaries, which includes assets and properties of the Business. Fiscal Year The Business’s fiscal year ends on the Friday nearest to June 30 and typically consists of 52 weeks. Approximately every five to six years, we report a 53-week fiscal year to align the fiscal year with the foregoing policy. Fiscal years 2024, 2023 and 2022 which ended on June 28, 2024, June 30, 2023, and July 1, 2022, respectively, are comprised of 52 weeks, with all quarters presented consisting of 13 weeks. Unless otherwise indicated, references herein to specific years and quarters are to fiscal years and fiscal quarters, and references to financial information are on a combined basis. Segment Reporting Operating segments are components of an enterprise for which separate financial information is available and is evaluated regularly by the company’s chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. The Business currently operates as both a single operating and reportable segment. Business Separation Costs On October 30, 2023, our Parent announced that its Board of Directors had completed its strategic review and, after evaluating a comprehensive range of alternatives, authorized WDC to pursue a plan to separate its Hard Disk Drive (“HDD”) and Flash business units to create two independent, public companies. As a result of the plan, the Business has incurred separation and transition costs and expects to incur such costs through the completion of the separation from WDC. The separation and transition costs are recorded within Business separation costs in the Combined Statements of Operations. Use of Estimates Management has made estimates and assumptions relating to the reporting of certain assets and liabilities in conformity with U.S. GAAP. These estimates and assumptions have been applied using methodologies that are consistent throughout the periods presented with consideration given to the potential impacts of current macroeconomic conditions. However, actual results could differ materially from these estimates. Cash Equivalents The Business’s cash equivalents represent highly liquid investments in money market funds, which are invested in U.S. Treasury securities and U.S. Government agency securities as well as bank certificates of deposit with original maturities at purchase of three months or less. These deposits are typically in excess of U.S. insured limits. Cash equivalents are carried at cost plus accrued interest, which approximates fair value. Equity Investments The Business enters into certain strategic investments for the promotion of business and strategic objectives. The equity method of accounting is used if the Business’s ownership interest is greater than or equal to 20.0% but less than a majority or where the Business has the ability to exercise significant influence over operating and financial policies. The Business’s equity in the earnings or losses in equity-method investments is recognized in Other income (expense), net, in the Combined Statements of Operations. Equity earnings or losses in the Business’s investments in Flash Ventures (as defined in Note 9) are reported on a three-month lag. If the Business’s ownership interest is less than 20.0% and the Business does not have the ability to exercise significant influence over operating and financial policies of the investee, the Business accounts for these investments at fair value, or if these equity securities do not have a readily determinable fair value, these securities are measured and recorded using the measurement alternative under Accounting Standards Update (“ASU”) No. 2016-01, “Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities,” which is cost minus impairment, if any, plus or minus changes resulting from observable price changes. These investments are recorded within Other non-current assets in the Combined Balance Sheets and are periodically analyzed to determine whether or not impairment indicators exist. Variable Interest Entities The Business evaluates its investments and other significant relationships to determine whether any investee is a variable interest entity (“VIE”). If the Business concludes that an investee is a VIE, the Business evaluates its power to direct the activities of the investee, its obligation to absorb the expected losses of the investee and its right to receive the expected residual returns of the investee to determine whether the Business is the primary beneficiary of the investee. If the Business is the primary beneficiary of a VIE, the Business consolidates such entity and reflects the non-controlling interest of other beneficiaries of that entity. The Business does not have any investments in variable interest entities requiring consolidation. Fair Value of Financial Instruments The carrying amounts of cash equivalents, accounts receivable, accounts payable and accrued expenses approximate fair value for all periods presented because of the short-term maturity of these assets and liabilities. The carrying value of notes receivable from Flash Ventures (as defined in Note 9) also approximates fair value for all periods presented because they bear variable market rates of interest. The fair value of investments that are not accounted for under the equity method is based on appropriate market information. The carrying amounts of Notes due to Parent and Notes due from Parent approximate their fair value as the notes are due on demand. Inventories The Business values inventories at the lower of cost (first-in, first-out) or net realizable value. Inventory write-downs are recorded for the valuation of inventory at the lower of cost or net realizable value by analyzing market conditions and estimates of future sales prices as compared to inventory costs and inventory balances. The Business evaluates inventory balances for excess quantities and obsolescence on a regular basis by analyzing estimated demand, inventory on hand, sales levels and other information and reduces inventory balances to net realizable value for excess and obsolete inventory based on this analysis. Unanticipated changes in technology or customer demand could result in a decrease in demand for one or more of the Business’s products, which may require a write-down of inventory that could materially affect operating results. Property, Plant and Equipment Property and equipment are carried at cost less accumulated depreciation. The cost of property, plant and equipment is depreciated over the estimated useful lives of the respective assets. The Business’s buildings and improvements are depreciated over periods ranging from fifteen to thirty years. The majority of the Business’s machinery and equipment, software and furniture and fixtures, are depreciated on a straight-line basis over a period of two to seven years. Leasehold improvements are amortized over the lesser of the estimated useful lives of the assets or the related lease terms. Goodwill and Other Long-Lived Assets Goodwill attributed to the Business represents the amount by which the purchase price of businesses acquired in a business combination exceeded the estimated fair value of acquired net assets. Goodwill is not amortized. Instead, it is tested for impairment on an annual basis or more frequently whenever events or changes in circumstances indicate that goodwill may be impaired. The Business performs an annual impairment test as of the beginning of its fourth quarter or sooner if an indicator of impairment exists. The Business uses qualitative factors to determine whether goodwill is more likely than not impaired and whether a quantitative test for impairment is considered necessary. If the Business concludes from the qualitative assessment that goodwill is more likely than not impaired, the Business is required to perform a quantitative approach to determine the amount of impairment. The Business is required to use judgment when applying the goodwill impairment test including the identification of reporting units, assignment of assets, liabilities and goodwill to reporting units, and determination of the fair value of each reporting unit. In addition, the estimates used to determine the fair value of reporting units may change based on results of operations, macroeconomic conditions or other factors. Changes in these estimates could materially affect the Business’s assessment of the fair value and goodwill impairment. The Business’s assessment resulted in no impairment of goodwill in fiscal years 2024 and 2022. In fiscal year 2023, certain macroeconomic conditions caused the Business to perform a quantitative impairment analysis which resulted in a $671 million impairment of goodwill for the fiscal year ended June 30, 2023. See Note 5, Supplemental Financial Statement Data , for additional disclosures related to the goodwill impairment assessment that was performed. Other long-lived assets are depreciated or amortized over their estimated useful lives based on the pattern in which the economic benefits are expected to be received. Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. If impairment is indicated, the impairment is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. The estimates of fair value require evaluation of future market conditions and product lifecycles as well as projected revenue, earnings and cash flow. See Note 5, Supplemental Financial Statement Data , for additional disclosures related to the Business’s other intangible assets. Revenue and Accounts Receivable The Business recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to the customer. The transaction price to be recognized as revenue is adjusted for variable consideration, such as sales incentives, and excludes amounts collected on behalf of third parties, including taxes imposed by governmental authorities. The Business’s performance obligations are typically not constrained based on the Business’s history with similar transactions and the fact that uncertainties are resolved in a fairly short period of time. Substantially all of the Business’s revenue is from the sale of tangible products for which the performance obligations are satisfied at a point in time, generally upon delivery. The Business’s services revenue mainly includes professional service arrangements and post contract customer support, warranty as a service and maintenance contracts and was not material for the periods presented. The performance obligations for the Business’s services are generally satisfied ratably over the service period based on the nature of the service provided and contract terms. Similarly, revenue from patent licensing arrangements is recognized based on whether the arrangement provides the customer a right to use or right to access the IP. Revenue for a right to use arrangement is recognized at the time the control of the license is transferred to the customer. Revenue for a right to access arrangement is recognized over the contract period using the time lapse method. For the sales-based royalty arrangements, the Business estimates and recognizes revenue in the period in which customers’ licensable sales occur. The Business’s customer payment terms are typically less than two months from the date control over the product or service is transferred to the customer. The Business uses the practical expedient and does not recognize a significant financing component for payment considerations of less than one year. The financing components of contracts with payment terms were not material. The Business provides distributors and retailers, which we refer to collectively as resellers, with limited price protection for inventories held by resellers at the time of published list price reductions. The Business also provides resellers and original equipment manufacturers (“OEMs”) with other sales incentive programs. The Business records estimated variable consideration related to these items as a reduction to revenue at the time of revenue recognition. The Business uses judgment in its assessment of variable consideration in contracts to be included in the transaction price. The Business uses the expected value method to arrive at the amount of variable consideration. The Business constrains variable consideration until the likelihood of a significant revenue reversal is not probable and believes that the expected value method is the appropriate estimate of the amount of variable consideration based on the fact that the Business has a large number of contracts with similar characteristics. For sales to OEMs, the Business’s methodology for estimating variable consideration is based on the amount of consideration expected to be earned based on the OEMs’ volume of purchases from the Business or other agreed-upon sales incentive programs. For sales to resellers, the Business’s methodology for estimating variable consideration is based on several factors including historical pricing information, current pricing trends and channel inventory levels. Differences between the estimated and actual amounts of variable consideration are recognized as adjustments to revenue. Marketing development program costs are typically recorded as a reduction of the transaction price and, therefore, of revenue. The Business nets sales rebates against open customer receivable balances if the criteria to offset are met, otherwise they are recorded within other accrued liabilities. For contracts with multiple performance obligations, the Business evaluates whether each deliverable is a distinct promise and should be accounted for as a separate performance obligation. If a promised good or service is not distinct in accordance with the revenue guidance, the Business combines that good or service with the other promised goods or services in the arrangement until a distinct bundle of goods is identified. If applicable, the Business allocates the transaction price to the performance obligations of each distinct product or service, or distinct bundle, based on their relative standalone selling prices. The Business records an allowance for doubtful accounts by analyzing specific customer accounts and assessing the risk of loss based on insolvency or other collection issues. In addition, the Business routinely analyzes the various receivable aging categories to establish reserves based on a combination of past due receivables and expected future losses. If the financial condition of a significant customer deteriorates resulting in its inability to pay its accounts when due, or if the Business’s overall loss trajectory changes significantly, an adjustment in the Business’s allowance for doubtful accounts would be required, which could materially affect operating results. Warranty The Business records an accrual for estimated warranty costs when revenue is recognized. The Business generally warrants its products for a period of one to five years, with a small number of products having a warranty ranging up to ten years or more. The warranty provision considers estimated product failure rates and trends, estimated replacement costs, estimated repair costs which include scrap costs and estimated costs for customer compensatory claims related to product quality issues, if any. For warranties ten years or greater, including lifetime warranties, the Business uses the estimated useful life of the product to calculate the warranty exposure. A statistical warranty tracking model is used to help prepare estimates and assist the Business in exercising judgment in determining the underlying estimates. The statistical tracking model captures specific details on product reliability, such as factory test data, historical field return rates and costs to repair by product type. Management’s judgment is subject to a greater degree of subjectivity with respect to newly introduced products because of limited field experience with those products upon which to base warranty estimates. Management reviews the warranty accrual quarterly for products shipped in prior periods and which are still under warranty. Any changes in the estimates underlying the accrual may result in adjustments that impact current period gross profit and income. Such changes are generally a result of differences between forecasted and actual return rate experience and costs to repair and could differ significantly from the estimates. Litigation and Other Contingencies When the Business becomes aware of a claim or potential claim, the Business assesses the likelihood of any loss or exposure. The Business discloses information regarding each material claim where the likelihood of a loss contingency is probable or reasonably possible. If a loss contingency is probable and the amount of the loss can be reasonably estimated, the Business records an accrual for the loss. In such cases, there may be an exposure to potential loss in excess of the amount accrued. Where a loss is not probable but is reasonably possible or where a loss in excess of the amount accrued is reasonably possible, the Business discloses an estimate of the amount of the loss or range of possible losses for the claim if a reasonable estimate can be made, unless the amount of such reasonably possible losses is not material to the Business’s financial position, results of operations or cash flows. The ability to predict the ultimate outcome of such matters involves judgments, estimates and inherent uncertainties. The actual outcome of such matters could differ materially from management’s estimates. See Note 14, Legal Proceedings, for additional disclosures related to the Business’s litigation. Advertising Expense Advertising costs are expensed as incurred and amounted to $31 million, $35 million and $47 million in 2024, 2023 and 2022, respectively. These expenses are included in Selling, general and administrative in the Combined Statements of Operations. Research and Development Expense Research and development (“R&D”) expenditures are expensed as incurred. Income Taxes Income taxes are calculated as if the Business files tax returns on a stand-alone basis separate from the Parent. The Business accounts for income taxes under the asset and liability method, which provides that deferred tax assets and liabilities be recognized for temporary differences between the financial reporting basis and the tax basis of assets and liabilities and expected benefits of utilizing net operating loss (“NOL”) and tax credit carryforwards. The Business records a valuation allowance when it is more likely than not that the deferred tax assets will not be realized. Each quarter, the Business evaluates the need for a valuation allowance for its deferred tax assets and adjusts the valuation allowance so that the Business records net deferred tax assets only to the extent that it has concluded it is more likely than not that these deferred tax assets will be realized. The Business accounts for interest and penalties related to income taxes as a component of the provision for income taxes. The Business recognizes liabilities for uncertain tax positions based on a two-step process. To the extent a tax position does not meet a more-likely-than-not level of certainty, no benefit is recognized in the financial statements. If a position meets the more-likely-than-not level of certainty, it is recognized in the financial statements at the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. Interest and penalties related to unrecognized tax benefits are recognized in liabilities recorded for uncertain tax positions and are recorded in the provision for income taxes. The actual liability for unrealized tax benefits in any such contingency may be materially different from the Business’s estimates, which could result in the need to record additional liabilities for unrecognized tax benefits or potentially adjust previously recorded liabilities for unrealized tax benefits and may materially affect the Business’s operating results. Stock-based Compensation Expense The Business’s employees have historically participated in Parent’s stock-based compensation programs. Stock-based compensation expense has been attributed to the Business based on the awards and terms previously granted to the Business’s direct employees, as well as an allocation of Parent’s corporate and shared functional employee expenses. Certain employees of the Business have been granted restricted stock or restricted stock units under which shares of the Parent’s common stock vest based on the passage of time or achievement of performance and market conditions. Under the Parent’s Employee Stock Purchase Plan (“ESPP”), eligible employees may authorize payroll deductions of up to 10% of their eligible compensation. The fair value of ESPP purchase rights issued is estimated at the date of grant of the purchase rights using the Black-Scholes-Merton option-pricing model. The Black-Scholes-Merton option-pricing model requires the input of assumptions such as the expected stock price volatility and the expected period until options are exercised. Purchase rights under the ESPP are generally granted on either June 1st or December 1st of each year. Other Comprehensive Income (Loss), Net of Tax Other comprehensive income (loss), net of tax refers to gains and losses that are recorded as an element of equity but are excluded from net income (loss). The Business’s other comprehensive income (loss), net of tax is primarily comprised of unrealized gains or losses on foreign exchange contracts designated as cash flow hedges and foreign currency translation. Derivative Contracts The majority of the Business’s transactions are in U.S. dollars; however, some transactions are based in various foreign currencies. The Business purchases foreign exchange contracts to hedge the impact of foreign currency exchange fluctuations on certain underlying assets, liabilities and commitments for Operating expenses and product costs denominated in foreign currencies. The purpose of entering into these hedging transactions is to minimize the impact of foreign currency fluctuations on the Business’s results of operations. Substantially all of these contract maturity dates do not exceed 12 months. All foreign exchange contracts are for risk management purposes only. The Business does not purchase foreign exchange contracts for speculative or trading purposes. The Business had foreign exchange contracts with commercial banks for European euro, Canadian dollar, Japanese yen, Malaysian ringgit, Korean won and Israeli shekel, which had an aggregate notional amount of $2.9 billion and $4.2 billion at June 28, 2024 and June 30, 2023, respectively. If the derivative is designated as a cash flow hedge and is determined to be highly effective, the change in fair value of the derivative is initially deferred in Other comprehensive income (loss), net of tax. These amounts are subsequently recognized into earnings when the underlying cash flow being hedged is recognized into earnings. Recognized gains and losses on foreign exchange contracts are reported in cost of revenue and operating expenses and presented within cash flows from operating activities. Hedge effectiveness is measured by comparing the hedging instrument’s cumulative change in fair value from inception to maturity to the underlying exposure’s terminal value. The Business determined the ineffectiveness associated with its cash flow hedges to be immaterial to the Combined Financial Statements for the periods presented. A change in the fair value of undesignated hedges is recognized in earnings in the period incurred and is reported in other income (expense), net. Leases The Business leases certain domestic and international facilities under long-term, non-cancelable operating leases that expire at various dates through 2039. These leases include no material variable or contingent lease payments. Operating lease assets and liabilities are recognized based on the present value of the remaining lease payments discounted using the Business’s incremental borrowing rate. Operating lease assets also include prepaid lease payments minus any lease incentives. Extension or termination options present in the Business’s lease agreements are included in determining the right-of-use asset and lease liability when it is reasonably certain the Business will exercise that option. Lease expense is recognized on a straight-line basis over the lease term.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Net Income (Loss)	$ 315	$ (819)
Other comprehensive income (loss), before tax:
Foreign currency translation adjustment	(35)	8
Net unrealized gain (loss) on derivative contracts	74	25
Total other comprehensive income (loss), before tax	39	33
Income tax benefit (expense) related to items of other comprehensive income (loss), before tax	(15)	(5)
Net current-period other comprehensive income (loss)	24	28
Total comprehensive income (loss)	$ 339	$ (791)
The Flash Business of Western Digital Corporation [Member]
Net Income (Loss)			$ (672)	$ (2,143)	$ 1,064
Other comprehensive income (loss), before tax:
Foreign currency translation adjustment			(43)	(35)	(107)
Net unrealized gain (loss) on derivative contracts			(87)	128	(245)
Total other comprehensive income (loss), before tax			(130)	93	(352)
Income tax benefit (expense) related to items of other comprehensive income (loss), before tax			21	(29)	35
Net current-period other comprehensive income (loss)			(109)	64	(317)
Total comprehensive income (loss)			$ (781)	$ (2,079)	$ 747

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Supplemental Financial Statement Data - Schedule of Warranty Accrual (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty accrual, beginning of period	$ 48	$ 42	$ 42
Charges to operations	9	15
Utilization	(17)	(17)
Changes in estimate related to pre-existing warranties	4	3
Warranty accrual, end of period	44	43	48	$ 42
The Flash Business of Western Digital Corporation [Member]
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty accrual, beginning of period	$ 48	$ 42	42	52	$ 48
Charges to operations			28	30	35
Utilization			(34)	(26)	(19)
Changes in estimate related to pre-existing warranties			12	(14)	(12)
Warranty accrual, end of period			$ 48	$ 42	$ 52

Employee Termination and Other Charges - Schedule of Net Charges (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Restructuring Cost and Reserve [Line Items]
Employee termination, asset impairment and other	$ 5	$ (46)
The Flash Business of Western Digital Corporation [Member]
Restructuring Cost and Reserve [Line Items]
Employee termination, asset impairment and other			$ (40)	$ 69	$ 16
Employee termination benefits
Restructuring Cost and Reserve [Line Items]
Employee termination, asset impairment and other	2	14
Employee termination benefits \| The Flash Business of Western Digital Corporation [Member]
Restructuring Cost and Reserve [Line Items]
Employee termination, asset impairment and other			15	68	22
Contract termination and other
Restructuring Cost and Reserve [Line Items]
Employee termination, asset impairment and other	3	0
Contract termination and other \| The Flash Business of Western Digital Corporation [Member]
Restructuring Cost and Reserve [Line Items]
Employee termination, asset impairment and other			5	1	(6)
Gain on sale-leaseback of facility
Restructuring Cost and Reserve [Line Items]
Employee termination, asset impairment and other	$ 0	$ (60)
Gain on sale-leaseback of facility \| The Flash Business of Western Digital Corporation [Member]
Restructuring Cost and Reserve [Line Items]
Employee termination, asset impairment and other			$ (60)	$ 0	$ 0

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Organization and Basis of Presentation (Policies)	6 Months Ended	12 Months Ended
Organization and Basis of Presentation (Policies)	Dec. 27, 2024	Jun. 28, 2024
Noncontrolling Interest [Line Items]
Basis of Presentation	Basis of Presentation Throughout the periods covered by the Condensed Combined Financial Statements, the Company was an operating segment of WDC. Consequently, stand-alone interim financial statements were not historically prepared for the Company. The accompanying Condensed Combined Financial Statements have been prepared from WDC’s historical consolidated interim financial statements and accounting records and are presented on a stand-alone basis as if the Company’s operations had been conducted independently from WDC. The Company utilized allocations and carve-out methodologies to prepare these historic Condensed Combined Financial Statements. The Condensed Combined Financial Statements include the historical results of operations, financial position, and cash flows of the Company in accordance with GAAP, and the Company has adopted accounting policies and practices that are generally accepted in the industry in which it operates. As no single legal entity of the Company had a controlling financial interest in all other legal entities as of the reporting date, Condensed Combined Financial Statements have been prepared. Intercompany transactions have been eliminated. With the exception of balances associated with lending arrangements reflected within Notes due to (from) Parent in the Condensed Combined Balance Sheets, transactions between the Company and WDC are generally considered to be effectively settled in the Condensed Combined Financial Statements at the time the transactions are recorded. The total net effect of the settlement of these transactions is reflected in the Condensed Combined Statements of Cash Flows as a financing activity and in the Condensed Combined Balance Sheets as Parent company net investment. General financing activities include the net impact of any cash movements resulting from WDC’s centralized treasury cash management. The Condensed Combined Balance Sheets include all assets and liabilities that are specifically identifiable or otherwise attributable to the Company. Assets and liabilities shared between the Company and WDC are included in the stand-alone financial statements to the extent the asset is primarily used by the Company. If the Company is not the primary user of the asset, it is excluded entirely from the Condensed Combined Financial Statements. WDC has historically used a centralized approach to cash management and financing of its operations, as needed. Certain of our cash was transferred to WDC according to centrally managed cash programs by treasury, and WDC funded our operating and investing activities as needed. Cash transfers to and from WDC’s cash management accounts are reflected as a component of the Parent company net investment in the Condensed Combined Balance Sheets. Cash and cash equivalents in our Condensed Combined Balance Sheets primarily represent cash held locally by entities included in our Condensed Combined Financial Statements. None of the debt obligations of WDC or corresponding interest expense have been included in the accompanying Condensed Combined Financial Statements, as the Company is neither the legal obligor nor transferee for any portion of such debt. WDC’s debt obligations were secured by a lien on substantially all assets and properties of WDC and certain key subsidiaries, which included assets and properties of the Company prior to the completion of the separation. The Condensed Combined Statements of Operations and Comprehensive Income (Loss) include all revenues and costs directly attributable to the Company as well as an allocation of expenses related to facilities, functions and services provided by WDC. Allocation of general corporate expenses from WDC include, but are not limited to, executive management, finance, tax, legal, information technology, employee benefits administration, treasury, risk management, procurement, and other shared services. These corporate expenses have been allocated to the Company based on direct usage or benefit, where identifiable, with the remainder allocated based on headcount, revenue, or other relevant measures. The allocated costs are deemed to be settled between the Company and WDC in the period in which the expense was recorded in the Condensed Combined Statements of Operations. The Condensed Combined Statements of Cash Flows present these corporate expenses as cash flows from operating activities, as these costs were incurred by WDC on our behalf. We consider these allocations to be a reasonable reflection of the utilization of services by, or the benefits provided to, the Company. The allocations may not, however, reflect the expense the Company would have incurred as a stand-alone company for the periods presented. Additionally, these costs may not be indicative of the expenses that the Company will incur in the future or would have incurred if the Company had obtained these services from an unrelated third party. It is not practicable to estimate the actual costs that would have been incurred had the Company been a stand-alone company during the periods presented. The actual costs that may have been incurred would depend on a number of factors, including the chosen organizational structure, whether functions were outsourced or performed by employees, and decisions with respect to areas such as facilities, information technology, and operating infrastructure. WDC maintains various stock-based compensation plans at a corporate level. Employees of the Company participated in those programs and a portion of the compensation cost associated with those plans is included in the Company’s Condensed Combined Statements of Operations for the periods presented in this interim financial information. Stock-based compensation expense has been included within Parent company net investment. The amounts presented in the Condensed Combined Financial Statements are not necessarily indicative of future awards and may not reflect the results that the Company would have experienced as a stand-alone entity. Current and deferred income taxes and related tax expenses have been determined based on the stand-alone results of the Company by applying Accounting Standards Codification No. 740, Income Taxes, to the Company’s operations in each country as if it were a separate taxpayer (i.e., following the “Separate Return Methodology”).
Fiscal Year	Fiscal Year The Company’s fiscal year ends on the Friday nearest to June 30 and typically consists of 52 weeks. Approximately every five to six years, we report a 53-week fiscal year to align the fiscal year with the foregoing policy. Fiscal year 2025, which will end on June 27, 2025, and fiscal year 2024, which ended on June 28, 2024, are each comprised of 52 weeks, with all quarters presented consisting of 13 weeks. Unless otherwise indicated, references herein to specific years and quarters are to fiscal years and fiscal quarters, and references to financial information are on a condensed combined basis.
Segment Reporting	Segment Reporting Operating segments are components of an enterprise for which separate financial information is available and are evaluated regularly by the Company’s Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources and in assessing performance. The Company currently operates as both a single operating and reportable segment.
Business Separation Costs	Business Separation Costs On October 30, 2023, WDC announced that its Board of Directors had completed its strategic review and, after evaluating a comprehensive range of alternatives, authorized WDC to pursue a plan to separate its flash business from its hard disk drive business to create two independent public companies. As a result of the plan, the Company has incurred separation and transition costs related to the completion of its separation from WDC. The separation and transition costs are recorded within Business separation costs in the Condensed Combined Statements of Operations.
Use of Estimates	Use of Estimates Management has made estimates and assumptions relating to the reporting of certain assets and liabilities in conformity with U.S. GAAP. These estimates and assumptions have been applied using methodologies that are consistent throughout the periods presented, with consideration given to the potential impacts of current macroeconomic conditions. However, actual results could differ materially from these estimates.
The Flash Business of Western Digital Corporation [Member]
Noncontrolling Interest [Line Items]
Basis of Presentation		Basis of Presentation Throughout the periods covered by the Combined Financial Statements, the Business was an operating segment of WDC. Consequently, stand-alone financial statements have not historically been prepared for the Business. The accompanying Combined Financial Statements have been prepared from WDC’s historical consolidated financial statements and accounting records and are presented on a stand-alone basis as if the Business’s operations had been conducted independently from WDC. The Combined Financial Statements include the historical results of operations, financial position and cash flows of the Business in accordance with accounting principles generally accepted in the United States (“GAAP”) and the Business has adopted accounting policies and practices which are generally accepted in the industry in which it operates. As no single legal entity of the Business has a controlling financial interest in all other legal entities, Combined Financial Statements have been prepared. Intercompany transactions have been eliminated. With the exception of balances associated with lending arrangements reflected within Notes due to (from) Parent in the Combined Balance Sheets, transactions between the Business and the Parent are generally considered to be effectively settled in the Combined Financial Statements at the time the transactions are recorded. The total net effect of the settlement of these transactions is reflected in the Combined Statements of Cash Flows as a financing activity and in the Combined Balance Sheets as Parent company net investment. General financing activities include the net impact of any cash movements resulting from the Parent’s centralized treasury cash management. The Combined Statements of Operations and Comprehensive Income (Loss) include all revenues and costs directly attributable to the Business as well as an allocation of expenses related to facilities, functions and services provided by our Parent. Allocation of general corporate expenses from our Parent include, but are not limited to, executive management, finance, tax, legal, information technology, employee benefits administration, treasury, risk management, procurement and other shared services. These corporate expenses have been allocated to the Business based on direct usage or benefit, where identifiable, with the remainder allocated based on headcount, revenue or other relevant measures. The allocated costs are deemed to be settled between the Business and the Parent in the period in which the expense was recorded in the Combined Statements of Operations. The Combined Statements of Cash Flows present these corporate expenses as cash flows from operating activities, as these costs were incurred by our Parent on our behalf. We consider these allocations to be a reasonable reflection of the utilization of services by, or the benefits provided to, the Business. The allocations may not, however, reflect the expense the Business would have incurred as a standalone company for the periods presented. Additionally, these costs may not be indicative of the expenses that the Business will incur in the future or would have incurred if the Business had obtained these services from an unrelated third party. It is not practicable to estimate the actual costs that would have been incurred had the Business been a standalone company during the periods presented. The actual costs that may have been incurred would depend on a number of factors, including the chosen organizational structure, whether functions were outsourced or performed by employees and decisions with respect to areas such as facilities, information technology and operating infrastructure. Our Parent maintains various stock-based compensation plans at a corporate level. Employees of the Business participate in those programs and a portion of the compensation cost associated with those plans is included in the Business’s Combined Statements of Operations. Stock-based compensation expense has been included within Parent company net investment. The amounts presented in the Combined Financial Statements are not necessarily indicative of future awards and may not reflect the results that the Business would have experienced as a stand-alone entity. Current and deferred income taxes and related tax expense have been determined based on the stand-alone results of the Business by applying Accounting Standards Codification No. 740, Income Taxes (“ASC 740”), to the Business’s operations in each country as if it were a separate taxpayer (i.e., following the Separate Return Methodology). The Combined Balance Sheets include all assets and liabilities that are specifically identifiable or otherwise attributable to the Business. Assets and liabilities shared between the Business and the Parent were included in the stand-alone financial statements to the extent the asset is primarily used by the Business. If the Business is not the primary user of the asset, it was excluded entirely from the Combined Financial Statements. The Parent has historically used a centralized approach to cash management and financing of its operations, as needed. Certain of our cash is transferred to the Parent according to centrally managed cash programs by treasury and the Parent funds our operating and investing activities as needed. Cash transfers to and from the Parent’s cash management accounts are reflected as a component of Parent company net investment in the Combined Balance Sheets. Cash and cash equivalents in our Combined Balance Sheets primarily represent cash held locally by entities included in our Combined Financial Statements. None of the debt obligations of the Parent or corresponding interest expense have been included in the accompanying Combined Financial Statements, as the Business is neither the legal obligor, nor transferee for any portion of such debt. Our Parent’s debt obligations are secured by a lien on substantially all assets and properties of WDC and certain key subsidiaries, which includes assets and properties of the Business.
Fiscal Year		Fiscal Year The Business’s fiscal year ends on the Friday nearest to June 30 and typically consists of 52 weeks. Approximately every five to six years, we report a 53-week fiscal year to align the fiscal year with the foregoing policy. Fiscal years 2024, 2023 and 2022 which ended on June 28, 2024, June 30, 2023, and July 1, 2022, respectively, are comprised of 52 weeks, with all quarters presented consisting of 13 weeks. Unless otherwise indicated, references herein to specific years and quarters are to fiscal years and fiscal quarters, and references to financial information are on a combined basis.
Segment Reporting		Segment Reporting Operating segments are components of an enterprise for which separate financial information is available and is evaluated regularly by the company’s chief operating decision maker (“CODM”) in deciding how to allocate resources and in assessing performance. The Business currently operates as both a single operating and reportable segment.
Business Separation Costs		Business Separation Costs On October 30, 2023, our Parent announced that its Board of Directors had completed its strategic review and, after evaluating a comprehensive range of alternatives, authorized WDC to pursue a plan to separate its Hard Disk Drive (“HDD”) and Flash business units to create two independent, public companies. As a result of the plan, the Business has incurred separation and transition costs and expects to incur such costs through the completion of the separation from WDC. The separation and transition costs are recorded within Business separation costs in the Combined Statements of Operations.
Use of Estimates		Use of Estimates Management has made estimates and assumptions relating to the reporting of certain assets and liabilities in conformity with U.S. GAAP. These estimates and assumptions have been applied using methodologies that are consistent throughout the periods presented with consideration given to the potential impacts of current macroeconomic conditions. However, actual results could differ materially from these estimates.
Cash Equivalents		Cash Equivalents The Business’s cash equivalents represent highly liquid investments in money market funds, which are invested in U.S. Treasury securities and U.S. Government agency securities as well as bank certificates of deposit with original maturities at purchase of three months or less. These deposits are typically in excess of U.S. insured limits. Cash equivalents are carried at cost plus accrued interest, which approximates fair value.
Equity Investments		Equity Investments The Business enters into certain strategic investments for the promotion of business and strategic objectives. The equity method of accounting is used if the Business’s ownership interest is greater than or equal to 20.0% but less than a majority or where the Business has the ability to exercise significant influence over operating and financial policies. The Business’s equity in the earnings or losses in equity-method investments is recognized in Other income (expense), net, in the Combined Statements of Operations. Equity earnings or losses in the Business’s investments in Flash Ventures (as defined in Note 9) are reported on a three-month lag. If the Business’s ownership interest is less than 20.0% and the Business does not have the ability to exercise significant influence over operating and financial policies of the investee, the Business accounts for these investments at fair value, or if these equity securities do not have a readily determinable fair value, these securities are measured and recorded using the measurement alternative under Accounting Standards Update (“ASU”) No. 2016-01, “Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities,” which is cost minus impairment, if any, plus or minus changes resulting from observable price changes. These investments are recorded within Other non-current assets in the Combined Balance Sheets and are periodically analyzed to determine whether or not impairment indicators exist.
Variable Interest Entities		Variable Interest Entities The Business evaluates its investments and other significant relationships to determine whether any investee is a variable interest entity (“VIE”). If the Business concludes that an investee is a VIE, the Business evaluates its power to direct the activities of the investee, its obligation to absorb the expected losses of the investee and its right to receive the expected residual returns of the investee to determine whether the Business is the primary beneficiary of the investee. If the Business is the primary beneficiary of a VIE, the Business consolidates such entity and reflects the non-controlling interest of other beneficiaries of that entity. The Business does not have any investments in variable interest entities requiring consolidation.
Fair Value Measurements and Investments		Fair Value of Financial Instruments The carrying amounts of cash equivalents, accounts receivable, accounts payable and accrued expenses approximate fair value for all periods presented because of the short-term maturity of these assets and liabilities. The carrying value of notes receivable from Flash Ventures (as defined in Note 9) also approximates fair value for all periods presented because they bear variable market rates of interest. The fair value of investments that are not accounted for under the equity method is based on appropriate market information. The carrying amounts of Notes due to Parent and Notes due from Parent approximate their fair value as the notes are due on demand.
Inventories		Inventories The Business values inventories at the lower of cost (first-in, first-out) or net realizable value. Inventory write-downs are recorded for the valuation of inventory at the lower of cost or net realizable value by analyzing market conditions and estimates of future sales prices as compared to inventory costs and inventory balances. The Business evaluates inventory balances for excess quantities and obsolescence on a regular basis by analyzing estimated demand, inventory on hand, sales levels and other information and reduces inventory balances to net realizable value for excess and obsolete inventory based on this analysis. Unanticipated changes in technology or customer demand could result in a decrease in demand for one or more of the Business’s products, which may require a write-down of inventory that could materially affect operating results.
Property, Plant and Equipment		Property, Plant and Equipment Property and equipment are carried at cost less accumulated depreciation. The cost of property, plant and equipment is depreciated over the estimated useful lives of the respective assets. The Business’s buildings and improvements are depreciated over periods ranging from fifteen to thirty years. The majority of the Business’s machinery and equipment, software and furniture and fixtures, are depreciated on a straight-line basis over a period of two to seven years. Leasehold improvements are amortized over the lesser of the estimated useful lives of the assets or the related lease terms.
Goodwill and Other Long-Lived Assets		Goodwill and Other Long-Lived Assets Goodwill attributed to the Business represents the amount by which the purchase price of businesses acquired in a business combination exceeded the estimated fair value of acquired net assets. Goodwill is not amortized. Instead, it is tested for impairment on an annual basis or more frequently whenever events or changes in circumstances indicate that goodwill may be impaired. The Business performs an annual impairment test as of the beginning of its fourth quarter or sooner if an indicator of impairment exists. The Business uses qualitative factors to determine whether goodwill is more likely than not impaired and whether a quantitative test for impairment is considered necessary. If the Business concludes from the qualitative assessment that goodwill is more likely than not impaired, the Business is required to perform a quantitative approach to determine the amount of impairment. The Business is required to use judgment when applying the goodwill impairment test including the identification of reporting units, assignment of assets, liabilities and goodwill to reporting units, and determination of the fair value of each reporting unit. In addition, the estimates used to determine the fair value of reporting units may change based on results of operations, macroeconomic conditions or other factors. Changes in these estimates could materially affect the Business’s assessment of the fair value and goodwill impairment. The Business’s assessment resulted in no impairment of goodwill in fiscal years 2024 and 2022. In fiscal year 2023, certain macroeconomic conditions caused the Business to perform a quantitative impairment analysis which resulted in a $671 million impairment of goodwill for the fiscal year ended June 30, 2023. See Note 5, Supplemental Financial Statement Data , for additional disclosures related to the goodwill impairment assessment that was performed. Other long-lived assets are depreciated or amortized over their estimated useful lives based on the pattern in which the economic benefits are expected to be received. Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. If impairment is indicated, the impairment is measured as the amount by which the carrying amount of the assets exceeds the fair value of the assets. The estimates of fair value require evaluation of future market conditions and product lifecycles as well as projected revenue, earnings and cash flow. See Note 5, Supplemental Financial Statement Data , for additional disclosures related to the Business’s other intangible assets.
Revenue and Accounts Receivable		Revenue and Accounts Receivable The Business recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to the customer. The transaction price to be recognized as revenue is adjusted for variable consideration, such as sales incentives, and excludes amounts collected on behalf of third parties, including taxes imposed by governmental authorities. The Business’s performance obligations are typically not constrained based on the Business’s history with similar transactions and the fact that uncertainties are resolved in a fairly short period of time. Substantially all of the Business’s revenue is from the sale of tangible products for which the performance obligations are satisfied at a point in time, generally upon delivery. The Business’s services revenue mainly includes professional service arrangements and post contract customer support, warranty as a service and maintenance contracts and was not material for the periods presented. The performance obligations for the Business’s services are generally satisfied ratably over the service period based on the nature of the service provided and contract terms. Similarly, revenue from patent licensing arrangements is recognized based on whether the arrangement provides the customer a right to use or right to access the IP. Revenue for a right to use arrangement is recognized at the time the control of the license is transferred to the customer. Revenue for a right to access arrangement is recognized over the contract period using the time lapse method. For the sales-based royalty arrangements, the Business estimates and recognizes revenue in the period in which customers’ licensable sales occur. The Business’s customer payment terms are typically less than two months from the date control over the product or service is transferred to the customer. The Business uses the practical expedient and does not recognize a significant financing component for payment considerations of less than one year. The financing components of contracts with payment terms were not material. The Business provides distributors and retailers, which we refer to collectively as resellers, with limited price protection for inventories held by resellers at the time of published list price reductions. The Business also provides resellers and original equipment manufacturers (“OEMs”) with other sales incentive programs. The Business records estimated variable consideration related to these items as a reduction to revenue at the time of revenue recognition. The Business uses judgment in its assessment of variable consideration in contracts to be included in the transaction price. The Business uses the expected value method to arrive at the amount of variable consideration. The Business constrains variable consideration until the likelihood of a significant revenue reversal is not probable and believes that the expected value method is the appropriate estimate of the amount of variable consideration based on the fact that the Business has a large number of contracts with similar characteristics. For sales to OEMs, the Business’s methodology for estimating variable consideration is based on the amount of consideration expected to be earned based on the OEMs’ volume of purchases from the Business or other agreed-upon sales incentive programs. For sales to resellers, the Business’s methodology for estimating variable consideration is based on several factors including historical pricing information, current pricing trends and channel inventory levels. Differences between the estimated and actual amounts of variable consideration are recognized as adjustments to revenue. Marketing development program costs are typically recorded as a reduction of the transaction price and, therefore, of revenue. The Business nets sales rebates against open customer receivable balances if the criteria to offset are met, otherwise they are recorded within other accrued liabilities. For contracts with multiple performance obligations, the Business evaluates whether each deliverable is a distinct promise and should be accounted for as a separate performance obligation. If a promised good or service is not distinct in accordance with the revenue guidance, the Business combines that good or service with the other promised goods or services in the arrangement until a distinct bundle of goods is identified. If applicable, the Business allocates the transaction price to the performance obligations of each distinct product or service, or distinct bundle, based on their relative standalone selling prices. The Business records an allowance for doubtful accounts by analyzing specific customer accounts and assessing the risk of loss based on insolvency or other collection issues. In addition, the Business routinely analyzes the various receivable aging categories to establish reserves based on a combination of past due receivables and expected future losses. If the financial condition of a significant customer deteriorates resulting in its inability to pay its accounts when due, or if the Business’s overall loss trajectory changes significantly, an adjustment in the Business’s allowance for doubtful accounts would be required, which could materially affect operating results.
Warranty		Warranty The Business records an accrual for estimated warranty costs when revenue is recognized. The Business generally warrants its products for a period of one to five years, with a small number of products having a warranty ranging up to ten years or more. The warranty provision considers estimated product failure rates and trends, estimated replacement costs, estimated repair costs which include scrap costs and estimated costs for customer compensatory claims related to product quality issues, if any. For warranties ten years or greater, including lifetime warranties, the Business uses the estimated useful life of the product to calculate the warranty exposure. A statistical warranty tracking model is used to help prepare estimates and assist the Business in exercising judgment in determining the underlying estimates. The statistical tracking model captures specific details on product reliability, such as factory test data, historical field return rates and costs to repair by product type. Management’s judgment is subject to a greater degree of subjectivity with respect to newly introduced products because of limited field experience with those products upon which to base warranty estimates. Management reviews the warranty accrual quarterly for products shipped in prior periods and which are still under warranty. Any changes in the estimates underlying the accrual may result in adjustments that impact current period gross profit and income. Such changes are generally a result of differences between forecasted and actual return rate experience and costs to repair and could differ significantly from the estimates.
Litigation and Other Contingencies		Litigation and Other Contingencies When the Business becomes aware of a claim or potential claim, the Business assesses the likelihood of any loss or exposure. The Business discloses information regarding each material claim where the likelihood of a loss contingency is probable or reasonably possible. If a loss contingency is probable and the amount of the loss can be reasonably estimated, the Business records an accrual for the loss. In such cases, there may be an exposure to potential loss in excess of the amount accrued. Where a loss is not probable but is reasonably possible or where a loss in excess of the amount accrued is reasonably possible, the Business discloses an estimate of the amount of the loss or range of possible losses for the claim if a reasonable estimate can be made, unless the amount of such reasonably possible losses is not material to the Business’s financial position, results of operations or cash flows. The ability to predict the ultimate outcome of such matters involves judgments, estimates and inherent uncertainties. The actual outcome of such matters could differ materially from management’s estimates. See Note 14, Legal Proceedings, for additional disclosures related to the Business’s litigation.
Advertising Expense		Advertising Expense Advertising costs are expensed as incurred and amounted to $31 million, $35 million and $47 million in 2024, 2023 and 2022, respectively. These expenses are included in Selling, general and administrative in the Combined Statements of Operations.
Research and Development Expense		Research and Development Expense Research and development (“R&D”) expenditures are expensed as incurred.
Income Taxes		Income Taxes Income taxes are calculated as if the Business files tax returns on a stand-alone basis separate from the Parent. The Business accounts for income taxes under the asset and liability method, which provides that deferred tax assets and liabilities be recognized for temporary differences between the financial reporting basis and the tax basis of assets and liabilities and expected benefits of utilizing net operating loss (“NOL”) and tax credit carryforwards. The Business records a valuation allowance when it is more likely than not that the deferred tax assets will not be realized. Each quarter, the Business evaluates the need for a valuation allowance for its deferred tax assets and adjusts the valuation allowance so that the Business records net deferred tax assets only to the extent that it has concluded it is more likely than not that these deferred tax assets will be realized. The Business accounts for interest and penalties related to income taxes as a component of the provision for income taxes. The Business recognizes liabilities for uncertain tax positions based on a two-step process. To the extent a tax position does not meet a more-likely-than-not level of certainty, no benefit is recognized in the financial statements. If a position meets the more-likely-than-not level of certainty, it is recognized in the financial statements at the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement. Interest and penalties related to unrecognized tax benefits are recognized in liabilities recorded for uncertain tax positions and are recorded in the provision for income taxes. The actual liability for unrealized tax benefits in any such contingency may be materially different from the Business’s estimates, which could result in the need to record additional liabilities for unrecognized tax benefits or potentially adjust previously recorded liabilities for unrealized tax benefits and may materially affect the Business’s operating results.
Stock-based Compensation Expense		Stock-based Compensation Expense The Business’s employees have historically participated in Parent’s stock-based compensation programs. Stock-based compensation expense has been attributed to the Business based on the awards and terms previously granted to the Business’s direct employees, as well as an allocation of Parent’s corporate and shared functional employee expenses. Certain employees of the Business have been granted restricted stock or restricted stock units under which shares of the Parent’s common stock vest based on the passage of time or achievement of performance and market conditions. Under the Parent’s Employee Stock Purchase Plan (“ESPP”), eligible employees may authorize payroll deductions of up to 10% of their eligible compensation. The fair value of ESPP purchase rights issued is estimated at the date of grant of the purchase rights using the Black-Scholes-Merton option-pricing model. The Black-Scholes-Merton option-pricing model requires the input of assumptions such as the expected stock price volatility and the expected period until options are exercised. Purchase rights under the ESPP are generally granted on either June 1st or December 1st of each year.
Other Comprehensive Income (Loss), Net of Tax		Other Comprehensive Income (Loss), Net of Tax Other comprehensive income (loss), net of tax refers to gains and losses that are recorded as an element of equity but are excluded from net income (loss). The Business’s other comprehensive income (loss), net of tax is primarily comprised of unrealized gains or losses on foreign exchange contracts designated as cash flow hedges and foreign currency translation.
Derivative Contracts		Derivative Contracts The majority of the Business’s transactions are in U.S. dollars; however, some transactions are based in various foreign currencies. The Business purchases foreign exchange contracts to hedge the impact of foreign currency exchange fluctuations on certain underlying assets, liabilities and commitments for Operating expenses and product costs denominated in foreign currencies. The purpose of entering into these hedging transactions is to minimize the impact of foreign currency fluctuations on the Business’s results of operations. Substantially all of these contract maturity dates do not exceed 12 months. All foreign exchange contracts are for risk management purposes only. The Business does not purchase foreign exchange contracts for speculative or trading purposes. The Business had foreign exchange contracts with commercial banks for European euro, Canadian dollar, Japanese yen, Malaysian ringgit, Korean won and Israeli shekel, which had an aggregate notional amount of $2.9 billion and $4.2 billion at June 28, 2024 and June 30, 2023, respectively. If the derivative is designated as a cash flow hedge and is determined to be highly effective, the change in fair value of the derivative is initially deferred in Other comprehensive income (loss), net of tax. These amounts are subsequently recognized into earnings when the underlying cash flow being hedged is recognized into earnings. Recognized gains and losses on foreign exchange contracts are reported in cost of revenue and operating expenses and presented within cash flows from operating activities. Hedge effectiveness is measured by comparing the hedging instrument’s cumulative change in fair value from inception to maturity to the underlying exposure’s terminal value. The Business determined the ineffectiveness associated with its cash flow hedges to be immaterial to the Combined Financial Statements for the periods presented. A change in the fair value of undesignated hedges is recognized in earnings in the period incurred and is reported in other income (expense), net.
Leases		Leases The Business leases certain domestic and international facilities under long-term, non-cancelable operating leases that expire at various dates through 2039. These leases include no material variable or contingent lease payments. Operating lease assets and liabilities are recognized based on the present value of the remaining lease payments discounted using the Business’s incremental borrowing rate. Operating lease assets also include prepaid lease payments minus any lease incentives. Extension or termination options present in the Business’s lease agreements are included in determining the right-of-use asset and lease liability when it is reasonably certain the Business will exercise that option. Lease expense is recognized on a straight-line basis over the lease term.

Supplemental Financial Statement Data - Schedule of Other Liabilities (Details) - USD ($) $ in Millions	Dec. 27, 2024	Jun. 28, 2024	Jun. 30, 2023
Other liabilities:
Non-current net tax payable	$ 66	$ 56
Long-term lease liability	179	171
Other non-current liabilities	62	59
Total other liabilities	307	286
Lease Liability [Member]
Other liabilities:
Long-term lease liability	$ 179	171
The Flash Business of Western Digital Corporation [Member]
Other liabilities:
Non-current net tax payable		56	$ 30
Long-term lease liability		172	87
Other non-current liabilities		59	61
Total other liabilities		286	179
The Flash Business of Western Digital Corporation [Member] \| Lease Liability [Member]
Other liabilities:
Long-term lease liability		$ 171	$ 88

Supplemental Financial Statement Data - Schedule of Property, Plant and Equipment, Net (Details) - USD ($) $ in Millions	Dec. 27, 2024	Jun. 28, 2024	Jun. 30, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,038	$ 2,994
Accumulated depreciation	(1,459)	(2,203)
Property, plant and equipment, net	579	791
The Flash Business of Western Digital Corporation [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		2,994	$ 3,016
Accumulated depreciation		(2,203)	(2,083)
Property, plant and equipment, net		791	933
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	10	10
Land \| The Flash Business of Western Digital Corporation [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		10	35
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	280	397
Buildings and improvements \| The Flash Business of Western Digital Corporation [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		397	479
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	1,463	2,340
Machinery and equipment \| The Flash Business of Western Digital Corporation [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		2,340	2,280
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	153	123
Computer equipment and software \| The Flash Business of Western Digital Corporation [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		123	121
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	18	16
Furniture and fixtures \| The Flash Business of Western Digital Corporation [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		16	15
Construction-in-process
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 114	108
Construction-in-process \| The Flash Business of Western Digital Corporation [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		$ 108	$ 86

Income Tax Expense (Tables)

6 Months Ended

12 Months Ended

Dec. 27, 2024

Jun. 28, 2024

Schedule of Components of Income Tax Expense (Benefit)

The following table presents the Company’s Income tax expense and the effective tax rate:


	Six Months Ended
	December 27, 2024			December 29, 2023
	($ in millions)
Income (loss) before taxes	$	440		$	(754	)
Income tax expense		125			65
Effective tax rate		28	%		(9	)%

Schedule of Unrecognized Tax Benefits Roll Forward

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits, excluding accrued interest and penalties for the six months ended December 27, 2024:


	(in millions)
Accrual balance at June 28, 2024	$	47
Gross increases related to prior year tax positions		17
Gross increases related to current year tax positions		3
Gross decrease related to prior year tax positions		(7	)

Accrual balance at December 27, 2024	$	60

The Flash Business of Western Digital Corporation [Member]

Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]

Income (loss) Before Taxes

The domestic and foreign components of Income (loss) before taxes were as follows:


	2024			2023			2022
	(in millions)
Foreign	$	(543	)	$	(2,253	)	$	276
U.S.		40			251			958

Income (loss) before taxes	$	(503	)	$	(2,002	)	$	1,234

Schedule of Components of Income Tax Expense (Benefit)

Income Tax Expense

The components of the income tax expense were as follows:


	2024			2023			2022
	(in millions)
Current:
Foreign	$	158		$	138		$	84
U.S. - Federal		20			76			141
U.S. - State		7			8			13

		185			222			238

Deferred:
Foreign		7			(15	)		24
U.S. - Federal		(19	)		(65	)		(82	)
U.S. - State		(4	)		(1	)		(10	)

		(16	)		(81	)		(68	)

Total income tax expense (benefit)	$	169		$	141		$	170

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

Temporary differences and carryforwards, which give rise to a significant portion of deferred tax assets and liabilities were as follows:


	June 28, 2024			June 30, 2023
	(in millions)
Deferred tax assets:
Sales related reserves and accrued expenses not currently deductible	$	45		$	56
Accrued compensation and benefits not currently deductible		17			7
Other current accruals		17			19
Net operating loss carryforward		19			15
Share based compensation		17			17
Long-lived assets		15			28
Lease liability		45			28
Unrealized gain (loss)		67			44
Other		8			1

Total deferred tax assets		250			215
Deferred tax liabilities:
Intangible assets		(3	)		(13	)
Foreign withholding tax		(86	)		(93	)
Right-of-use asset		(43	)		(26	)
Deferred income		(8	)		(3	)
Other		(2	)		(6	)

Total deferred tax liabilities		(142	)		(141	)

Valuation allowances		(27	)		(26	)

Deferred tax assets, net	$	81		$	48

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Reconciliation of the U.S. federal statutory rate to the Business’s effective tax rate is as follows:


	2024			2023			2022
Tax at federal statutory tax rate		21.0	%		21.0	%		21.0	%
Tax rate differential on international incomes		(42.3	)		(28.7	)		0.4
Foreign withholding tax		(10.8	)		(1.7	)		2.9
Change in valuation allowance		(2.2	)		(0.4	)		1.4
Tax effect of U.S foreign income inclusion		(1.2	)		(0.4	)		5.8
Tax effect of U.S foreign derived intangible income		1.9			3.1			(7.6	)
Tax effect of permanent differences		(1.4	)		(0.5	)		(0.1	)
Tax effect of goodwill impairment		—			(7.0	)		—
Tax effect of intangible assets		0.9			4.3			(6.5	)
Tax rate change		0.6			0.1			—
Unremitted earnings of certain non-U.S. entities		2.2			0.4			—
Change in uncertain tax positions		(11.4	)		0.6			0.5
Return to provision adjustment		(1.3	)		(0.2	)		(0.5	)
Foreign income tax credits		5.1			1.4			(2.4	)
R&D tax credits		2.7			1.0			(2.1	)
Tax effect of share-based compensation		(1.1	)		(0.5	)		0.9
Federal audit settlements		3.3			—			—
Other		0.4			0.5			0.1

Effective income tax rate		(33.6	)%		(7.0	)%		13.8	%

Schedule of Unrecognized Tax Benefits Roll Forward

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits excluding accrued interest and penalties:


	2024			2023			2022
	(in millions)
Unrecognized tax benefit, beginning balance	$	25		$	17		$	11
Gross increases related to current year tax positions		15			10			7
Gross increases related to prior year tax positions		10			1			—
Gross decreases related to prior year tax positions		(3	)		(3	)		(1	)
Settlements		—			—			—

Unrecognized tax benefit, ending balance	$	47		$	25		$	17

Schedule of major jurisdictions within which the Business receives foreign


Jurisdiction	NOL Carryforward Amount		Expiration
	(in millions)
Malaysia	$	44		2028
Netherlands		12		2026

Summary of Income Tax Examinations [Table Text Block]


Jurisdiction	Period Subject to Examination
China (calendar)		2014-2023
Ireland (fiscal)		2020-2023
India (fiscal)		2009-2023
Israel (fiscal)		2014-2023
Japan (fiscal)		2017-2023
Malaysia (fiscal)		2017-2023
Singapore (fiscal)		2020-2023
United Kingdom (fiscal)		2022-2023

Related Parties and Related Commitments and Contingencies - Schedule of Variable Interest Entity Maximum Loss Exposure (Details) - Related Party $ in Millions, ¥ in Billions	Dec. 27, 2024 USD ($)	Dec. 27, 2024 JPY (¥)	Jun. 28, 2024 USD ($)	Jun. 28, 2024 JPY (¥)
Guarantor Obligations [Line Items]
Maximum estimable loss exposure	$ 3,607
Operating lease guarantees	1,343	¥ 212	$ 1,299	¥ 208
Inventory and prepayments	1,393
The Flash Business of Western Digital Corporation [Member]
Guarantor Obligations [Line Items]
Maximum estimable loss exposure			3,369
Operating lease guarantees			1,299
Inventory and prepayments			1,069
Notes receivable
Guarantor Obligations [Line Items]
Maximum estimable loss exposure	583
Notes receivable \| The Flash Business of Western Digital Corporation [Member]
Guarantor Obligations [Line Items]
Maximum estimable loss exposure			491
Equity investments
Guarantor Obligations [Line Items]
Maximum estimable loss exposure	$ 288
Equity investments \| The Flash Business of Western Digital Corporation [Member]
Guarantor Obligations [Line Items]
Maximum estimable loss exposure			$ 510

Income Tax Expense - Domestic and foreign components of Income (loss) before taxes (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Income Tax Expense [Line Items]
Income (loss) before taxes	$ 440	$ (754)
The Flash Business of Western Digital Corporation [Member]
Income Tax Expense [Line Items]
Foreign			$ (543)	$ (2,253)	$ 276
U.S.			40	251	958
Income (loss) before taxes			$ (503)	$ (2,002)	$ 1,234

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Leases and Other Commitments - Minimum Lease Payments (Details) - USD ($) $ in Millions	Dec. 27, 2024	Jun. 28, 2024	Jun. 30, 2023
Leases and Other Commitments [Line Items]
Remaining six months of 2025	$ 14
2026	30
2027	28
2028	20
2029	20
Thereafter	198
Total future minimum lease payments	310
Less: Imputed interest	114
Operating Lease, Liability	$ 196	$ 182
The Flash Business of Western Digital Corporation [Member]
Leases and Other Commitments [Line Items]
Remaining six months of 2025		23
2026		22
2027		21
2028		19
2029		19
Thereafter		199
Total future minimum lease payments		303
Less: Imputed interest		120
Operating Lease, Liability		$ 183	$ 100

Derivative Instruments and Hedging Activities	6 Months Ended	12 Months Ended
Derivative Instruments and Hedging Activities	Dec. 27, 2024	Jun. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Note 7. Derivative Instruments and Hedging Activities As of December 27, 2024, the Company had outstanding foreign exchange forward contracts that were designated as either cash flow hedges or non-designated hedges. Substantially all of the contract maturity dates of these foreign exchange forward contracts do not exceed twelve months. Changes in the fair values of the non-designated foreign exchange contracts are recognized in Other expense, net and are largely offset by corresponding changes in the fair values of the foreign currency denominated monetary assets and liabilities. For the six months ended December 27, 2024 total net realized and unrealized transaction and foreign exchange contract currency were a $25 million loss and were not material for the six months ended December 29, 2023. Unrealized gains or losses on designated cash flow hedges are recognized in AOCL. For more information regarding cash flow hedges, see Note 5, Supplemental Financial Statement Data—Accumulated other comprehensive loss .	Note 7. Derivative Instruments and Hedging Activities As of June 28, 2024, the Business had outstanding foreign exchange forward contracts that were designated as either cash flow hedges or non-designated hedges. Substantially all of the contract maturity dates of these foreign exchange forward contracts do not exceed twelve months. As of June 28, 2024, the Business did not have any derivative contracts with credit-risk-related contingent features. Changes in the fair values of the non-designated foreign exchange contracts are recognized in other income, net and are largely offset by corresponding changes in the fair values of the foreign currency denominated monetary assets and liabilities. For 2024, 2023 and 2022 total net realized and unrealized transaction and foreign exchange contract currency losses were $4 million, $5 million and $4 million, respectively. Unrealized gains or losses on designated cash flow hedges are recognized in AOCL. For more information regarding cash flow hedges, see Note 5, Supplemental Financial Statement Data—Accumulated other comprehensive loss .

CONDENSED COMBINED STATEMENTS OF CHANGES IN PARENT COMPANY NET INVESTMENT - USD ($) $ in Millions	3 Months Ended				6 Months Ended		12 Months Ended
	Dec. 27, 2024	Sep. 27, 2024	Dec. 29, 2023	Sep. 29, 2023	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 12,126	$ 11,082	$ 10,925	$ 11,439	$ 11,082	$ 11,439	$ 11,439
Net Income (Loss)	104	211	(301)	(518)	315	(819)
Foreign currency translation adjustment	(78)	43	24	(16)	(35)	8
Net unrealized gain (loss) on derivative contracts	(107)	166	59	(39)
Stock-based compensation	48	41	37	40
Net transfer from Parent	(92)	583	152	19			275	$ 376	$ (922)
Ending balance	12,001	12,126	10,896	10,925	12,001	10,896	11,082	11,439
The Flash Business of Western Digital Corporation [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		11,082		11,439	11,082	11,439	11,439	12,977	12,981
Net Income (Loss)							(672)	(2,143)	1,064
Foreign currency translation adjustment							(43)	(35)	(107)
Net unrealized gain (loss) on derivative contracts							(66)	99	(210)
Stock-based compensation							149	165	171
Net transfer from Parent							275	376	(922)
Ending balance							11,082	11,439	12,977
Parent Company Net Investment
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	12,369	11,534	11,323	11,782	11,534	11,782	11,782
Net Income (Loss)	104	211	(301)	(518)
Foreign currency translation adjustment	0	0	0	0
Net unrealized gain (loss) on derivative contracts	0	0	0	0
Stock-based compensation	48	41	37	40
Net transfer from Parent	(86)	583	152	19
Ending balance	12,435	12,369	11,211	11,323	12,435	11,211	11,534	11,782
Parent Company Net Investment \| The Flash Business of Western Digital Corporation [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		11,534		11,782	11,534	11,782	11,782	13,384	13,071
Net Income (Loss)							(672)	(2,143)	1,064
Foreign currency translation adjustment							0	0	0
Net unrealized gain (loss) on derivative contracts							0	0	0
Stock-based compensation							149	165	171
Net transfer from Parent							275	376	(922)
Ending balance							11,534	11,782	13,384
Total Accumulated Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(243)	452	(398)	(343)	452	(343)	(343)
Net Income (Loss)	0	0	0	0
Foreign currency translation adjustment	(78)	43	24	(16)
Net unrealized gain (loss) on derivative contracts	(107)	166	59	(39)
Stock-based compensation	0	0	0	0
Net transfer from Parent	(6)	0	0	0	(6)
Ending balance	$ (434)	(243)	$ (315)	(398)	(434)	(315)	452	(343)
Total Accumulated Comprehensive Loss \| The Flash Business of Western Digital Corporation [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		$ (452)		$ (343)	$ (452)	$ (343)	(343)	(407)	(90)
Net Income (Loss)							0	0	0
Foreign currency translation adjustment							(43)	(35)	(107)
Net unrealized gain (loss) on derivative contracts							(66)	99	(210)
Stock-based compensation							0	0	0
Net transfer from Parent							0	0	0
Ending balance							$ (452)	$ (343)	$ (407)

Cover Page	6 Months Ended
Cover Page	Dec. 27, 2024
Document Information [Line Items]
Document Type	S-1
Entity Registrant Name	Sandisk Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	99-1508671
Entity Address, Address Line One	951 Sandisk Drive
Entity Address, City or Town	Milpitas
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95035
City Area Code	408
Local Phone Number	801-1000
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Central Index Key	0002023554
Amendment Flag	false
Business Contact [Member]
Document Information [Line Items]
Contact Personnel Name	Bernard Shek
Entity Address, Address Line One	951 Sandisk Drive
Entity Address, City or Town	Milpitas
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95035
City Area Code	408
Local Phone Number	801-1000

Geographic Information and Concentrations of Risk - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Concentration Risk [Line Items]
Accounts receivable	$ 904		$ 935
The Flash Business of Western Digital Corporation [Member]
Concentration Risk [Line Items]
Accounts receivable			$ 935	$ 539
Credit Concentration Risk \| One Customer \| The Flash Business of Western Digital Corporation [Member]
Concentration Risk [Line Items]
Financing receivable, Nonaccrual to outstanding, Percent			10.00%
Credit Concentration Risk \| Two Customer One [Member] \| The Flash Business of Western Digital Corporation [Member]
Concentration Risk [Line Items]
Financing receivable, Nonaccrual to outstanding, Percent				39.00%
Credit Concentration Risk \| Two Customer Two [Member] \| The Flash Business of Western Digital Corporation [Member]
Concentration Risk [Line Items]
Financing receivable, Nonaccrual to outstanding, Percent				18.00%
Revenue from Contract with Customer \| Customer Concentration Risk \| The Flash Business of Western Digital Corporation [Member]
Concentration Risk [Line Items]
Concentration risk, percentage			10.00%
Revenue from Contract with Customer \| Customer Concentration Risk \| Top Ten Customers
Concentration Risk [Line Items]
Concentration risk, percentage	46.00%	43.00%
Revenue from Contract with Customer \| Customer Concentration Risk \| Top Ten Customers \| The Flash Business of Western Digital Corporation [Member]
Concentration Risk [Line Items]
Concentration risk, percentage			41.00%	47.00%	47.00%
Revenue from Contract with Customer \| Customer Concentration Risk \| One Customer
Concentration Risk [Line Items]
Concentration risk, percentage	10.00%	10.00%
Revenue from Contract with Customer \| Customer Concentration Risk \| One Customer \| The Flash Business of Western Digital Corporation [Member]
Concentration Risk [Line Items]
Concentration risk, percentage				15.00%	11.00%

Stock-based Compensation Expense

6 Months Ended

12 Months Ended

Dec. 27, 2024

Jun. 28, 2024

Stock-based Compensation Expense

Note 11. Stock-based Compensation Expense

The table below summarizes the total costs charged to the Company related to the Company’s employees’ participation in WDC’s equity incentive plan during the periods presented:


	Six Months Ended
	December 27, 2024		December 29, 2023
	(in millions)
Cost of revenue	$	9	$	10
Research and development		40		35
Selling general, and administrative		40		32

Total	$	89	$	77

The total unrecognized stock-based compensation expense associated with our employees was $303 million as of December 27, 2024. The total unrecognized stock-based expense relates to employees of WDC who will be employees of the Company after the

separation.

The Flash Business of Western Digital Corporation [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Stock-based Compensation Expense

Note 11. Stock-based Compensation Expense

Certain of our employees participate in our Parent’s equity-based incentive plans. Under the Western Digital Corporation 2021 Equity Incentive Plan (the “2021 Plan”) and the Western Digital Corporation Amended and Restated 2017 Performance Incentive Plan (the “2017 Plan”), our employees were awarded stock-based incentive awards in a number of forms, including nonqualified stock options. Upon the effective date of the 2021 Plan, no new awards were granted under the 2017 Plan. The types of awards that may be granted under the 2021 Plan include stock options, stock appreciation rights (“SARs”), RSUs, PSUs, restricted stock and other forms of awards granted or denominated in the Parent’s common stock or units of the Parent’s common stock, as well as cash awards. Awards granted to our employees under the incentive plans generally vest over periods ranging from two to four years. We measure stock-based compensation for all stock-based incentive awards at fair value on the grant date. Stock-based compensation expense is generally recognized on a straight-line basis over the requisite service periods of the awards. Compensation costs associated with our employees’ participation in the incentive plans have been specifically identified for employees who exclusively support our operations and are allocated to us as part of the cost allocations from our Parent. We include the related expense in operating expense (research and development and selling, general and administrative) and cost of revenue on our Combined Statements of Operations, depending on the nature of the employee’s role in our operations.

The table below summarizes total costs charged to the Business related to the Business’s employees’ participation in our Parent’s incentive plan during the years ended June 28, 2024, June 30, 2023, and July 1, 2022:


	2024		2023		2022
	(in millions)
Cost of revenue	$	20	$	19	$	18
Research and development		71		88		94
Selling, general and administrative		58		58		59

Total	$	149	$	165	$	171

Total unrecognized stock-based compensation expense associated with our employees was $142 million as of June 28, 2024. We may receive additional allocations of share-based compensation expense associated with employees of our Parent who are engaged in corporate support functions.

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Recent Accounting Pronouncements	6 Months Ended	12 Months Ended
Recent Accounting Pronouncements	Dec. 27, 2024	Jun. 28, 2024
Recent Accounting Pronouncements	Note 2. Recent Accounting Pronouncements Accounting Pronouncements Recently Adopted In September 2022, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update (“ASU”) No. 2022-04, “Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations,” which requires annual and interim disclosures for entities that use supplier finance programs in connection with the purchase of goods and services. The ASU requires the Company to provide disclosure of outstanding obligations to such suppliers for all balance sheet dates presented beginning with the Company’s first quarter of 2024 and to provide certain annual roll-forward information related to those obligations beginning with the Company’s first fiscal quarter of 2025. The ASU does not affect the recognition, measurement or financial statement presentation for supplier finance program obligations. The Company adopted the guidance on the first day of fiscal year 2024, and the adoption did not have a material impact on its Condensed Combined Financial Statements. As of December 27, 2024, none of the Company’s suppliers are utilizing these programs. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which expands on segment reporting requirements primarily through enhanced disclosures surrounding significant segment expenses. The ASU expands on existing segment reporting requirements to require that a public entity disclose, on an annual and interim basis, significant segment expenses that are regularly provided to an entity’s CODM, a description of other segment items by reportable segment, and any additional measures of a segment’s profit or loss used by the CODM when deciding how to allocate resources. These incremental disclosures will be required beginning with the Company’s financial statements for the year ending June 27, 2025. The Company is currently assessing these reporting requirements and expects to provide any required disclosures at that time. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The ASU calls for enhanced income tax disclosure requirements surrounding the tabular rate reconciliation and income taxes paid. The Company is currently compiling the information required for these disclosures. These incremental disclosures will be required beginning with the Company’s financial statements for the year ending June 26, 2026, with early adoption permitted. The Company expects to provide any required disclosures at that time. In November 2024, the FASB issued ASU 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses,” which is intended to improve disclosures about the expenses of public entities. The new guidance requires more detailed information about the types of expenses in commonly presented expense captions (such as cost of sales and selling, general and administrative expenses) and requires public entities to disclose, on an annual and interim basis, the amounts of expenses included in each relevant expense caption presented on the face of the income statement within continuing operations, in a tabular format. Additionally, public entities will be required to disclose a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively, the total amount of selling expenses, and, in annual reporting periods, the definition of selling expenses. This standard is effective on either a prospective or retrospective basis for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The Company is currently compiling the information required for these disclosures and assessing the basis of adoption and expects to adopt the guidance for annual reporting periods included in the Company’s financial statements for the year ending June 30, 2028.
The Flash Business of Western Digital Corporation [Member]
Recent Accounting Pronouncements		Note 2. Recent Accounting Pronouncements Accounting Pronouncements Recently Adopted In September 2022, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update (“ASU”) No. 2022-04, “Liabilities-Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations”, which requires annual and interim disclosures for entities that use supplier finance programs in connection with the purchase of goods and services. The ASU requires the Business to provide disclosure of outstanding obligations to such suppliers for all balance sheet dates presented beginning with the Business’s first quarter of 2024 and to provide certain rollforward information related to those obligations beginning in the Business’s first fiscal quarter of 2025, with early adoption permitted. The ASU does not affect the recognition, measurement or financial statement presentation of supplier finance program obligations. The Business adopted the guidance on the first day of fiscal year 2024 and the adoption did not have a material impact on its Combined Financial Statements. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures,” which expands on segment reporting requirements primarily through enhanced disclosures surrounding significant segment expenses. The ASU expands on existing segment reporting requirements to require that a public entity disclose, on an annual and interim basis, significant segment expenses that are regularly provided to an entity’s CODM, a description of other segment items by reportable segment, and any additional measures of a segment’s profit or loss used by the CODM when deciding how to allocate resources. These incremental disclosures will be required beginning with the Business’s financial statements for the year ending June 27, 2025. The Business expects to provide any required disclosures at that time. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The ASU calls for enhanced income tax disclosure requirements surrounding the tabular rate reconciliation and income taxes paid. The amendments are effective for the Business’s fiscal year 2026, with early adoption permitted. The Business is currently compiling the information required for these disclosures. These incremental disclosures will be required beginning with the Business’s financial statements for the year ending June 27, 2025. The Business expects to provide any required disclosures at that time.

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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Geographic Information and Concentrations of Risk

6 Months Ended

12 Months Ended

Dec. 27, 2024

Jun. 28, 2024

Geographic Information and Concentrations of Risk

Note 3. Geographic Information and Concentrations of Risk

Disaggregated Revenue

The Company’s broad portfolio of technology and products addresses multiple end markets. Cloud represents a large and growing end market comprised primarily of products for public or private cloud environments and enterprise customers. Through the Client end market, the Company provides its original equipment manufacturer (“OEM”) and channel customers a broad array of high-performance flash solutions across personal computer, mobile, gaming, automotive, virtual reality headsets, at-home entertainment, and industrial spaces. The Consumer end market is highlighted by the Company’s broad range of retail and other end-user products, which capitalize on the strength of the Company’s product brand recognition and vast points of presence around the world.

The Company’s disaggregated revenue information was as follows:


	Six Months Ended
	December 27, 2024		December 29, 2023
	(in millions)
Revenue by end market
Cloud	$	550	$	58
Client		2,097		1,967
Consumer		1,112		1,173

Total revenue	$	3,759	$	3,198

Revenue by geography
Asia	$	2,236	$	2,173
Americas		832		487
Europe, Middle East and Africa		691		538

Total revenue	$	3,759	$	3,198

The Company’s top 10 customers accounted for 46% of its net revenue for the six months ended December 27, 2024, and 43% of its net revenue for the six months ended December 29, 2023. For the six months ended December 27, 2024, no customer accounted for more than 10% of the Company’s net revenue. For the six months ended December 29, 2023, one customer accounted for 10% of the Company’s net revenue.

The Flash Business of Western Digital Corporation [Member]

Geographic Information and Concentrations of Risk

Note 3. Geographic Information and Concentrations of Risk

Disaggregated Revenue

The Business’s broad portfolio of technology and products addresses multiple end markets. Cloud represents a large and growing end market comprised primarily of products for public or private cloud environments and enterprise customers. Through the Client end market, the Business provides its OEM and channel customers a broad array of high-performance flash solutions across personal computer, mobile, gaming, automotive, virtual reality headsets,

at-home

entertainment and industrial spaces. The Consumer end market is highlighted by the Business’s broad range of retail and other

end-user

products, which capitalize on the strength of the Business’s product brand recognition and vast points of presence around the world.

The Business’s disaggregated revenue information is as follows:


	2024		2023		2022
	(in millions)
Revenue by end market
Cloud	$	325	$	500	$	1,264
Client		4,069		3,637		6,038
Consumer		2,269		1,949		2,452

Total revenue	$	6,663	$	6,086	$	9,754

The Business’s operations outside the United States include manufacturing facilities in China, Japan, Malaysia, as well as sales offices throughout the Americas, Asia Pacific, Europe and the Middle East. The following tables summarize the Business’s operations by geographic area:


	2024		2023		2022
	(in millions)
Net revenue 1
United States	$	933	$	1,133	$	1,768
China		2,549		2,302		3,769
Hong Kong		1,044		690		1,324
Rest of Asia		917		898		1,391
Europe, Middle East and Africa		1,058		930		1,349
Other		162		133		153

Total	$	6,663	$	6,086	$	9,754

(1)	Net revenue is attributed to geographic regions based on the ship-to location of the customer. License and royalty revenue is attributed to countries based upon the location of the headquarters of the licensee.

Disaggregated Long-lived Assets

The Business’s long-lived assets, including property, plant and equipment by geographic area, are as follows:


	2024		2023
	(in millions)
Long-lived assets 2
United States	$	77	$	154
China		249		298
Malaysia		388		390
Rest of Asia		4		4
Europe, Middle East and Africa		73		87

Total	$	791	$	933

(2)	Long-lived assets include property, plant and equipment and are attributed to the geographic location in which they are located.

Customer Concentration and Credit Risk

The Business sells its products to computer manufacturers and OEMs, cloud service providers, resellers, distributors and retailers throughout the world. For fiscal year 2024, no customer accounted for more than 10% of the Business’s net revenue. For fiscal year 2023, one customer accounted for 15% of the Business’s net revenue. For fiscal year 2022, one customer accounted for 11% of the Business’s net revenue. For 2024, 2023 and 2022, the Business’s top 10 customers accounted for 41%, 47% and 47% of the Business’s net revenue, respectively.

The Business performs ongoing credit evaluations of its customers’ financial condition and generally requires no collateral. The Business maintains allowances for potential credit losses, and such losses have historically been within management’s expectations. At any given point in time, the total amount outstanding from any one of a number of its customers may be individually significant to the Business’s financial results. As of June 28, 2024, the Business had net accounts receivable of $935 million, and one customer accounted for 10% of the Business’s outstanding accounts receivable. As of June 30, 2023, the Business had net accounts receivable of $539 million, and two customers accounted for 39% and 18% of the Business’s outstanding accounts receivable, respectively. Reserves for potential credit losses were not material as of each period end.

The Business also has cash equivalent and investment policies that limit the amount of credit exposure to any one financial institution or investment instrument and requires that investments be made only with financial institutions or in investment instruments evaluated as highly credit-worthy.

Supplier Concentration

All of the Business’s flash products require silicon wafers for the memory and controller components. The Business’s flash memory wafers are currently supplied almost entirely from Flash Ventures (as defined in Note 9) and the Business’s controller wafers are all manufactured by third-party sources. The failure of any of these sources to deliver silicon wafers could have a material adverse effect on the Business’s business, financial condition and results of operations.

In addition, some key components are purchased from single-source vendors for which alternative sources are currently not available. Shortages could occur in these essential materials due to an interruption of supply or increased demand in the industry. If the Business was unable to procure certain of such materials, the Business’s sales could decline, which could have a material adverse effect upon its results of operations. The Business also relies on third-party subcontractors to assemble and test a portion of its products. The Business does not have long-term contracts with some of these subcontractors and cannot directly control product delivery schedules or manufacturing processes. This could lead to product shortages or quality assurance problems that could increase the manufacturing costs of the Business’s products and have material adverse effects on the Business’s operating results.

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

The Flash Business of Western Digital Corporation [Member]

Summarized Financial Information

12 Months Ended

Jun. 28, 2024

Schedule of Equity Method Investments [Line Items]

Summarized Financial Information

Note 15. Summarized Financial Information

Pursuant to Rule

4-08(g)

of Regulation

S-X

under the Securities Act, the Business presents summarized financial information for the combined accounts of its

non-consolidated

joint ventures, which are accounted for using the equity method. This includes the portions attributable to both the Business and Kioxia. Flash Ventures

has a fiscal

year-end

of March 31. The Summarized Financial Information below shows the financial position and results of operations for Flash Ventures on a three-month lag.

Summarized financial information for equity method investments in Flash Ventures is as follows:


	June 28, 2024		June 30, 2023
	(in millions)
Current assets	$	777	$	666
Non-current assets		5,783		7,585

Total assets		6,560		8,251
Current liabilities		2,225		2,716
Non-current liabilities		3,312		4,297

Total liabilities		5,537		7,013

Total net equity of investees	$	1,023	$	1,238


	June 28, 2024			June 30, 2023		July 1, 2022
	(in millions)
Net sales	$	2,252		$	2,788	$	3,368
Gross profit (loss)		(51	)		138		240
Net income (loss)	$	(9	)	$	89	$	102

Leases and Other Commitments

6 Months Ended

12 Months Ended

Dec. 27, 2024

Jun. 28, 2024

Leases and Other Commitments

Note 10. Leases and Other Commitments

Leases

The Company leases certain domestic and international facilities and data center space under long-term, non-cancelable operating leases that expire at various dates through fiscal year 2039. These leases include no material variable or contingent lease payments. Operating lease assets and liabilities are recognized based on the present value of the remaining lease payments discounted using the Company’s incremental borrowing rate. Operating lease assets also include prepaid lease payments minus any lease incentives. Extension or termination options present in the Company’s lease agreements are included in determining the right-of-use asset and lease liability when it is reasonably certain the Company will exercise those options. Lease expense is recognized on a straight-line basis over the lease term.

The following table presents right-of-use lease assets and lease liabilities included in the Company’s Condensed Combined Balance Sheets:


	December 27, 2024		June 28, 2024
	(in millions)
Operating lease right-of-use assets (included in other non-current assets)	$	191	$	179
Operating lease liabilities:
Current portion of long-term operating lease liabilities (included in accrued expenses)		17		11
Long-term operating lease liabilities (included in other liabilities)		179		171

Total operating lease liabilities	$	196	$	182

The following table summarizes supplemental disclosures of operating cost and cash flow information related to operating leases:


	Six Months Ended
	December 27, 2024		December 29, 2023
	(in millions)
Cost of operating leases	$	16	$	13
Cash paid for operating leases		14		14
Operating lease assets obtained in exchange for operating lease liabilities		4		167

The weighted average remaining lease term and discount rate for the Company’s operating leases were as follows:


	December 27, 2024			June 28, 2024
Weighted average remaining lease term in years		12.6			13.7
Weighted average discount rate		7.4	%		7.5	%

As of December 27, 2024, minimum lease payments were as follows:


	Lease Amounts
	(in millions)
Minimum lease payments by fiscal year:
Remaining six months of 2025	$	14
2026		30
2027		28
2028		20
2029		20
Thereafter		198

Total future minimum lease payments		310
Less: Imputed interest		114

Present value of lease liabilities	$	196

Sale-Leaseback

In September 2023, WDC completed a sale and leaseback of its facility in Milpitas, California and received net proceeds of $191 million in cash. A substantial majority of these assets are associated with the Company, and as a result, $134 million of the net proceeds from the sale-leaseback transaction has been allocated to us on a relative square footage basis and reflected as a cash inflow from investing activities within the Condensed Combined Statements of Cash Flows for the six months ended December 29, 2023. In connection with the sale and leaseback, the Company recorded a gain of $60 million upon the closing of the transaction. For more information, see Note 13,

Employee Termination and Other Charges

of the Notes to Condensed Combined Financial Statements.

The property is being leased back to the Company at a total annual rate of $16 million for the first year and increasing by 3% per year thereafter through January 1, 2039. The lease includes three five-year renewal options and one four-year renewal option for the ability to extend through December 2057. The associated operating lease liability and right-of-use asset for this facility has been included in the Condensed Combined Balance Sheets as of December 27, 2024 and June 28, 2024. This facility is utilized in the Company’s operations, and the total lease expense has been allocated to the Company based on the continued usage of the facility.

Purchase Agreements and Other Commitments

In the normal course of business, the Company enters into purchase orders with suppliers for the purchase of components used to manufacture its products. These purchase orders generally cover forecasted component supplies needed for production during the coming months, are recorded as a liability upon receipt of the components, and generally may be changed or canceled at any time prior to shipment of the components. The Company also enters into long-term agreements with suppliers that contain fixed future commitments, which are contingent upon certain conditions such as performance, quality and technology of the vendor’s components. As of December 27, 2024, the Company had the following minimum long-term commitments:


	Long-term commitments
	(in millions)
Fiscal year:
Remaining six months of 2025	$	26
2026		496
2027		586


	Long-term commitments
	(in millions)
2028		570
2029		570
Thereafter		660

Total	$	2,908

The Flash Business of Western Digital Corporation [Member]

Leases and Other Commitments

Note 10. Leases and Other Commitments

Leases

The following table presents

right-of-use-lease

assets and lease liabilities included in the Business’s Combined Balance Sheets:


	June 28, 2024		June 30, 2023
	(in millions)
Operating lease right-of-use assets (included in other non-current assets)	$	179	$	93
Operating lease liabilities:
Current portion of long-term operating lease liabilities (included in accrued expenses)		11		13
Long-term operating lease liabilities (included in other liabilities)		172		87

Total operating lease liabilities	$	183	$	100

The following tables summarize supplemental disclosures of operating cost and cash flow information related to operating leases:


	Years ended
	June 28, 2024		June 30, 2023		July 1, 2022
	(in millions)
Cost of operating leases	$	29	$	21	$	22
Cash paid for operating leases		30		14		10
Operating lease assets obtained in exchange for operating lease liabilities		167		3		107
Decrease in operating lease liabilities and right-of-use assets due to lease remeasurement		71		—		—

The weighted average remaining lease term and discount rate for the Business’s operating leases were as follows:


	2024			2023
Weighted average remaining lease term in years		13.7			7.8
Weighted average discount rate		7.5	%		3.0	%

As of June 28, 2024, minimum lease payments were as follows:


	Lease Amounts
	(in millions)
2025	$	23
2026		22
2027		21
2028		19
2029		19
Thereafter		199

Total future minimum lease payments		303
Less: Imputed interest		120

Present value of lease liabilities	$	183

Sale-Leaseback

In August 2023, our Parent entered into an agreement for the sale and leaseback of its facility in Milpitas, California and received gross proceeds of $191 million in cash. A substantial majority of these assets are associated with the Business and all are included in our Combined Balance Sheet as of June 30, 2023. As a result, $134 million of consideration from the sale-leaseback transaction has been allocated to us on a relative square footage basis and reflected as a cash inflow from investing activities within the Combined Statements of Cash Flows for fiscal year 2024. In connection with the sale and leaseback, the Business recorded a gain of $60 million upon closing of the transaction in September 2023. For more information, see Note 13,

Employee Termination, Asset Impairment and Other

The property is being leased back at an annual rate of $16 million for the first year and increasing by 3% per year thereafter through January 1, 2039. The lease includes three

5-year

renewal options and one

4-year

renewal option for the ability to extend through December 2057. The full amount of the associated operating lease liability and right of use asset for this facility has been included in the Combined Balance Sheet as of June 28, 2024. This facility is utilized in the Business’s operations and a portion of the total annual lease expense will be allocated to the Business in future periods based on the continued usage of the facility.

Purchase Agreements and Other Commitments

In the normal course of business, the Business enters into purchase orders with suppliers for the purchase of components used to manufacture its products. These purchase orders generally cover forecasted component supplies needed for production during the next quarter, are recorded as a liability upon receipt of the components, and generally may be changed or canceled at any time prior to shipment of the components. The Business also enters into long-term agreements with suppliers that contain fixed future commitments, which are contingent on

certain conditions such as performance, quality and technology of the vendor’s components. As of June 28, 2024, the Business had the following minimum long-term commitments:


	Long-term commitments
	(in millions)
Fiscal year:
2025	$	43
2026		51
2027		32
2028		20
2029		20
Thereafter		110

Total	$	276

Employee Termination and Other Charges - Schedule of Employee Termination Benefits (Detail) - The Flash Business of Western Digital Corporation [Member] $ in Millions	12 Months Ended
	Jun. 28, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Accrual balance at June 30, 2023	$ 3
Charges	15
Cash payments	(18)
Accrual balance at June 28, 2024	$ 0

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Supplemental Financial Statement Data - Accounts Receivable, Net (Details) - USD ($) $ in Millions	6 Months Ended
	Dec. 27, 2024	Dec. 29, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds on sale of trade accounts receivable		$ 272
Western Digital Corporation
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds on sale of trade accounts receivable	$ 0

Related Parties and Related Commitments and Contingencies

6 Months Ended

12 Months Ended

Dec. 27, 2024

Jun. 28, 2024

The Flash Business of Western Digital Corporation [Member]

Note 9. Related Parties and Related Commitments and Contingencies

Flash Ventures

The Company procures substantially all of its flash-based memory wafers from its business ventures with Kioxia Corporation (“Kioxia”), which consists of three separate legal entities: Flash Partners Ltd. (“Flash Partners”), Flash Alliance Ltd. (“Flash Alliance”) and Flash Forward Ltd. (“Flash Forward”), collectively referred to as “Flash Ventures.”

The following table presents the notes receivable from, and equity investments in, Flash Ventures for the periods presented:


	December 27, 2024		June 28, 2024
	(in millions)
Notes receivable, Flash Partners	$	72	$	1
Notes receivable, Flash Alliance		35		5
Notes receivable, Flash Forward		476		485
Investment in Flash Partners		41		148
Investment in Flash Alliance		118		219
Investment in Flash Forward		129		143

Total notes receivable and investments in Flash Ventures	$	871	$	1,001

During the six months ended December 27, 2024, and December 29, 2023, the Company made net payments to Flash Ventures of $2.0 billion and $1.8 billion, respectively, for purchased flash-based memory wafers and net loans.

The Company makes, or will make, loans to Flash Ventures to fund equipment investments for new process technologies and additional wafer capacity. The Company aggregates its Flash Ventures’ notes receivable into one class of financing receivables due to the similar ownership interest and common structure in each Flash Ventures entity. For all reporting periods presented, no loans were past due, and no loan impairments were recorded. The Company’s notes receivable from each Flash Ventures entity, denominated in Japanese yen, are secured by equipment owned by that Flash Ventures entity.

As of December 27, 2024, and June 28, 2024, the Company had accounts payable balances due to Flash Ventures of $252 million and $313 million, respectively.


	December 27, 2024
	(in millions)
Notes receivable	$	583
Equity investments		288
Operating lease guarantees		1,343
Inventory and prepayments		1,393

Maximum estimable loss exposure	$	3,607

The Company is obligated to pay for variable costs incurred in producing its share of Flash Ventures’ flash-based memory wafer supply, based on its rolling three-month forecast, which generally equals 50% of Flash Ventures’ output. In addition, the Company is obligated to pay for half of Flash Ventures’ fixed costs regardless of the output the Company chooses to purchase. The Company is not able to estimate its total wafer purchase commitment obligation beyond its rolling three-month purchase commitment because the price is determined by reference to the future cost of producing the semiconductor wafers. In addition, the Company is committed to fund 49.9% to 50.0% of each Flash Ventures entity’s capital investments to the extent that the Flash Ventures entity’s operating cash flow is insufficient to fund these investments.

Flash Ventures has historically operated nearly 100% of its manufacturing capacity. During the three and six months ended December 29, 2023, as a result of flash market conditions, the Company temporarily reduced its utilization of its share of Flash Ventures’ manufacturing capacity to an abnormally low level to more closely align the Company’s flash-based wafer supply with projected demand. During the six months ended December 29, 2023, the Company incurred costs of $249 million associated with the reduction in utilization related to Flash Ventures, which was recorded as a charge to Cost of revenue. No such charges were incurred during the six months ended December 27, 2024.

The Company has facility agreements with Kioxia related to the construction and operation of Kioxia’s 300-millimeter wafer fabrication facility in Kitakami, Japan, referred to as “K1”, a wafer fabrication facility in Yokkaichi, Japan, referred to as “Y7”, and a wafer fabrication facility in Kitakami, Japan, referred to as “K2”. In connection with the construction of these facilities, the Company makes prepayments toward future building depreciation. In connection with the start-up of the K1, Y7 and K2 facilities, the Company has made prepayments over time, and as of December 27, 2024, $944 million, with $124 million recorded within Other current assets and $840 million recorded within Other non-current assets in the Condensed Combined Balance Sheets, remain to be credited against future building depreciation charges. As of December 27, 2024, the Company is also committed to making additional building depreciation prepayments of $303 million, based on the Japanese yen to U.S. dollars exchange rate of ¥157.86 as of such date, payable as follows: $60 million for the remaining of fiscal year 2025, $30 million in fiscal year 2026, $111 million in fiscal year 2027, $89 million in fiscal year 2028 and $13 million in fiscal year 2029. As of December 27, 2024, in addition to the requirements to make building depreciation prepayments, the Company will also make payments for building depreciation of approximately $107 million at varying dates through fiscal year 2035.

Inventory Purchase Commitments with Flash Ventures.

Purchase orders placed with Flash Ventures for up to three months are binding and cannot be canceled.

Research and Development Activities.

The Company participates in common research and development (“R&D”) activities with Kioxia and is contractually committed to a minimum funding level. R&D commitments are immaterial to the Condensed Combined Financial Statements.

Off-Balance Sheet Liabilities.

Flash Ventures sells to and leases back from a consortium of financial institutions a portion of its tools and has entered into equipment lease agreements of which the Company guarantees half of all of the outstanding obligations under each lease agreement. The lease agreements are subject to customary covenants and cancellation events related to Flash Ventures and each of the guarantors. The occurrence of a cancellation event could result in an acceleration of Flash Ventures’ obligations and a call on the Company’s guarantees.


	Lease Amounts
	(Japanese yen, in billions)		(U.S. dollar, in millions)
Total guarantee obligations	¥	212	$	1,343


Annual Installments	Payment of Principal Amortization		Purchase Option Exercise Price at Final Lease Terms		Guarantee Amount
	(in millions)
Remaining six months of 2025	$	201	$	49	$	250
2026		406		113		519
2027		198		97		295
2028		83		93		176
2029		25		50		75
2030		4		24		28

Total guarantee obligations	$	917	$	426	$	1,343

The Company and Kioxia have agreed to mutually contribute to and indemnify each other and Flash Ventures for environmental remediation costs or liabilities resulting from Flash Ventures’ manufacturing operations in certain circumstances. The Company has not made any indemnification payments nor recorded any indemnification receivables under any such agreements. As of December 27, 2024, no amounts have been accrued in the Condensed Combined Financial Statements with respect to these indemnification agreements.

Unis Venture

WDC also has a venture with Unisplendour Corporation Limited and Unissoft (Wuxi) Group Co. Ltd. (“Unis”), referred to as the “Unis Venture,” to market and sell the Company’s products in China and to develop data storage systems for the Chinese market in the future. On January 24, 2025, the Company and WDC entered into an equity transfer agreement (the “Equity Transfer Agreement”) to transfer WDC’s entire equity interest in the Unis Venture to us. Therefore, subsequent to the end of the second quarter of fiscal 2025, the Unis Venture will be minority owned by the Company and majority-owned by Unis.

Prior to the execution of the Equity Transfer Agreement, the Unis Venture was not historically managed as a component of the Company and as such, the related equity method investment is not reflected within our Condensed Combined Financial Statements. For the six months ended December 27, 2024, and December 29, 2023, the Company recognized approximately 1% and 1%, respectively, of its combined revenue on products distributed by the Unis Venture. The outstanding accounts receivable due from the Unis Venture were 1% and 4% of Accounts receivable, net, as of December 27, 2024 and June 28, 2024, respectively.

Sale of a Majority Interest in a Subsidiary

In March 2024, SanDisk China Limited (“SanDisk China”), an indirect wholly-owned subsidiary of WDC, entered into an equity purchase agreement to sell 80% of its equity interest in SanDisk Semiconductor (Shanghai) Co. Ltd. (“SDSS”) an indirect wholly-owned subsidiary of WDC which holds one of the Company’s manufacturing facilities, to JCET Management Co., Ltd. (“JCET”), a wholly-owned subsidiary of JCET Group Co., Ltd., a Chinese publicly-listed company, thereby forming a venture between SanDisk China and JCET (the “Transaction”). The venture aims to provide independent semiconductor assembly, testing, and other related services in the People’s Republic of China for customers including, but not limited to, the Company and its affiliates.

The Transaction closed on September 28, 2024, and SanDisk China completed the sale of 80% of its equity interest in SDSS to JCET.

Proceeds from the sale, including working capital adjustments, were $659 million (pre-tax). On October 1, 2024, the Company received an initial pre-tax installment of $262 million. On January 6, 2025, the Company received a second pre-tax installment of $210 million and expects to receive remaining pre-tax proceeds of $187 million in five installments of approximately $37 million on September 28 of each year through September 28, 2029. As of December 27, 2024, the outstanding consideration receivable was recognized at its present value of $370 million, with $243 million classified as Other current assets and $127 million classified as Other non-current assets in the Condensed Combined Balance Sheets. The present value discount of $27 million as of December 27, 2024 will be recognized using the effective interest method over the next five years as Interest income in the Condensed Combined Statements of Operations.

The Company’s 20% retained interest in SDSS was determined to be valued at $158 million based on the fair value of the total pre-tax consideration received and receivable from JCET for its purchase of its 80% interest in SDSS. The Company accounts for its 20% interest in SDSS as an equity method investment within Other non-current assets in the Condensed Combined Balance Sheets. The Company’s 20% interest in the earnings of SDSS will be recognized one quarter in arrears and will be reported in Other expense, net in the Condensed Combined Statements of Operations.

The Transaction resulted in a pre-tax gain of $34 million, calculated as the difference between the total consideration for the sale, including the outstanding consideration receivable and the fair value of the Company’s

20% retained interest, less the carrying value of the net assets divested, which included, among other items, $71 million of cash and cash equivalents and $382 million of goodwill allocated to SDSS.

Subsequent to and in connection with the Transaction, Western Digital Technologies, Inc. (“WDT”) entered into a five-year supply agreement with SDSS (the “Supply Agreement”) to purchase certain flash-based products with a minimum annual commitment of $550 million (the “minimum annual commitment”). On January 10, 2025, the Company and WDT entered into an assignment agreement, pursuant to which, WDT assigned all of its rights and obligations under the Supply Agreement to the Company. The Supply Agreement contains specific penalties the Company must pay if SDSS fails to meet its minimum annual commitment. The Supply Agreement also provides that if SDSS purchases exceed the minimum annual commitment in any of the two years immediately succeeding any annual period where a shortfall penalty has been paid, SDSS shall reimburse the Company an amount not exceeding the previously paid penalty amount. The Supply Agreement expires on September 28, 2029, and automatically renews for additional one-year terms unless earlier terminated by either of the parties. The Company also entered into an agreement to grant SDSS certain intellectual property rights on a royalty-free basis for use in manufacturing products on the Company’s behalf for the term of and under the Supply Agreement. For the six months ended December 27, 2024, the Company made purchases of $111 million under the Supply Agreement and had an accounts payable balance due to SDSS of $117 million as of December 27, 2024.

The Company also entered into an arrangement to provide certain transition services for a limited period following the closing of the Transaction. Charges under this arrangement were not material.

Related Party Transactions

Notes Due to (from) Parent

Prior to the separation, the Company received financing from certain of WDC’s subsidiaries in the form of borrowings under revolving credit agreements and promissory notes to fund activities primarily related to Flash Ventures. Additionally, cash generated by the Company was lent from time to time via promissory notes to certain of WDC’s subsidiaries for use in general corporate purposes. Outstanding balances due under these financing arrangements are due on demand.


	Interest Rate	December 27, 2024		June 28, 2024
		(in millions)
Notes due from Parent
Revolving Credit Agreement due from Parent $101M - Oct. 3, 2019	AFR Rate (USD) or TIBOR + .35% (YEN)	$	—	$	(102	)

Total Notes due from Parent			—		(102	)

Notes due to Parent
Revolving Credit Agreement due to Parent $1B - Sep. 27, 2024	SOFR + 1.6%		553		—
Notes due to Parent $500M - Nov. 25, 2014	1-year swap + 2%		—		475


	Interest Rate	December 27, 2024		June 28, 2024
		(in millions)
Notes Due to Parent $42B Yen - Apr. 29, 2014	TIBOR + .35%		—		262
Revolving Credit Agreement due to Parent $100M - Aug. 20, 2021	LIBOR Rate + 150 basis points		—		77

Total Notes due to Parent			553		814

	Total Notes due to Parent, net	$	553	$	712


	Six Months Ended
	December 27, 2024			December 29, 2023
	(in millions)
Interest expense on notes due to Parent	$	4		$	20
Interest income on notes due from Parent	$	(1	)	$	(3	)

Allocation of Corporate Expenses

WDC has provided various corporate services to the Company in the ordinary course of business, including executive management, finance, tax, legal, information technology, employee benefits administration, treasury, risk management, procurement and other shared services. These corporate expenses have been allocated to the Company based on direct usage or benefit, where identifiable, with the remainder allocated based on headcount, revenue or other relevant measures. Management believes the basis on which the expenses have been allocated to be a reasonable reflection of the utilization of services provided to or the benefit received by us.

Effective at the beginning of the second quarter of fiscal year 2025, the Company was operationally separated from the operations that were ultimately retained by WDC following completion of the spin-off transaction. In connection with this operational separation, personnel serving the Company in shared service functions were transferred into legal entities dedicated to the Company, and substantially all assets, liabilities, and contracts pertaining to operations of the Company were transferred to legal entities dedicated to the Company as well. Accordingly, there was a substantial reduction in the pool of shared corporate overhead costs of WDC that were subject to allocation in the second quarter of fiscal year 2025.

The table below summarizes the impact of expense allocations from WDC within the Condensed Combined Statements of Operations for the periods presented:


	Six Months Ended
	December 27, 2024		December 29, 2023
	(in millions)
Research and development	$	189	$	330
Selling general, and administrative		148		219
Business separation costs		41		34
Employee termination and other charges		5		(46	)

Total allocation of Corporate Expenses	$	383	$	537

Our historical financial statements do not purport to reflect what results of operations, financial position, equity or cash flows would have been if we had operated as a stand-alone company during the periods presented.

Cash Management

Prior to the separation, WDC provided funding for our operating and investing activities, including pooled cash managed by WDC’s treasury, to fund operating expenses and capital expenditures. WDC also directly collected certain of our receivables. These activities are reflected as a component of the Parent’s net investment, and this arrangement is not reflective of the manner in which we would operate on a stand-alone company separate from WDC during the periods presented.

Parent Company Net Investment

Parent company net investment on the Condensed Combined Balance Sheets represents WDC’s historical investment in the Company, the net effect of transactions with and allocations from WDC, the Company’s retained earnings and the allocation to the Company of cumulative effect adjustments from the adoption of new accounting standards.

Net Transfers from (to) Parent


	Six Months Ended
	December 27, 2024			December 29, 2023
	(in millions)
Net transfers from Parent per Condensed Combined Statements of Changes in Parent Company Net Investment	$	491		$	171
Liability for unrecognized tax benefits transferred from Parent		14			—
Accumulated other comprehensive loss transferred from Parent		6			—
Strategic investments transferred from Parent		(7	)		—
Other assets and liabilities, net transferred from Parent		(37	)		—
Property, plant and equipment, net transferred from Parent		(25	)		(2	)
Notes due to Parent transferred from Parent		(673	)		—
Notes due from Parent transferred to Parent		—			113
Deferred taxes, net transferred from Parent		—			(8	)

Net transfers from (to) Parent per Condensed Combined Statements of Cash Flows	$	(231	)	$	274

Note 9. Related Parties and Related Commitments and Contingencies

Flash Ventures

The Business procures substantially all of its flash-based memory wafers from its business ventures with Kioxia Corporation (“Kioxia”), which consists of three separate legal entities: Flash Partners Ltd. (“Flash Partners”), Flash Alliance Ltd. (“Flash Alliance”) and Flash Forward Ltd. (“Flash Forward”), collectively referred to as “Flash Ventures.” The Business has a 49.9% ownership interest and Kioxia has a 50.1% ownership interest in each of these entities. Through Flash Ventures, the Business and Kioxia collaborate in the development and manufacture of flash-based memory wafers, which are manufactured by Kioxia at its wafer fabrication facilities located in Japan using semiconductor manufacturing equipment individually owned or leased by each Flash Ventures entity. Each Flash Ventures entity purchases wafers from Kioxia at cost and then resells those wafers to the Business and Kioxia at cost plus a markup

Flash Partners

Flash Partners was formed in 2004 in connection with the construction of Kioxia’s “Y3”

300-millimeter

wafer fabrication facility located in Yokkaichi, Japan.

Flash Alliance

Flash Alliance was formed in 2006 in connection with the construction of Kioxia’s “Y4”

300-millimeter

wafer fabrication facility located in Yokkaichi, Japan.

Flash Forward

Flash Forward was formed in 2010 in connection with the construction of Kioxia’s “Y5”

300-millimeter

wafer fabrication facility located in Yokkaichi, Japan. Y5 was built in two phases of approximately equal size.

New Y2

The Business has a facility agreement with Kioxia related to the construction and operation of Kioxia’s “New Y2”

300-millimeter

wafer fabrication facility located in Yokkaichi, Japan. New Y2 primarily provided additional clean room space to convert a portion of

2-dimensional

(“2D”) flash-based wafer production capacity to

3-dimensional

(“3D”) flash-based wafer production capacity. Production of flash-based wafers in New Y2 started in 2016.

The Business also has a facility agreement with Kioxia related to the construction and operation of Kioxia’s “Y6”

300-millimeter

wafer fabrication facility in Yokkaichi, Japan. Y6 is primarily intended to provide clean room space to continue the transition of existing 2D flash-based wafer capacity to 3D flash-based wafer production capacity. Production of flash-based wafers in Y6 started in 2018.

The Business also has a facility agreement with Kioxia related to the construction and operation of Kioxia’s “K1”

300-millimeter

wafer fabrication facility in Kitakami, Japan. The primary purpose of K1 is to provide clean room space to continue the transition of existing flash-based wafer capacity to newer technology nodes. Production of flash-based wafers in K1 started in 2019.

Y7.

In January 2022, the Business entered into additional agreements regarding Flash Ventures’ investment in a new wafer fabrication facility in Yokkaichi, Japan, referred to as “Y7”. The primary purpose of Y7 is to provide clean room space to continue the transition of existing flash-based wafer capacity to newer flash technology nodes. Production of flash-based wafers in Y7 started in 2022.

In June 2024, the Business entered into additional agreements regarding Flash Ventures’ investment in a new wafer fabrication facility in Kitakami, Japan, referred to as “K2”. The primary purpose of K2 is to provide clean room space to continue the transition of existing flash-based wafer capacity to newer flash technology nodes. Output from K2 is expected to begin in the first half of fiscal year 2026.

In connection with the

start-up

of the K1, K2 and Y7 facilities, the Business has made prepayments over time, toward future building depreciation. During 2024, the Business made $74 million of prepayments and as of June 28, 2024, $523 million remained to be credited against future building depreciation charges.

As of June 28, 2024, the Business is committed to make additional building depreciation payments of $610 million. The additional future payments are scheduled as follows, based on Japanese yen to U.S. dollars exchange rate as of June 28, 2024: $372 million in fiscal year 2025, $29 million in fiscal year 2026, $109 million in fiscal year 2027, $87 million in fiscal year 2028, and $13 million in fiscal year 2029. As of June 28, 2024, in addition to the requirements to make building depreciation prepayments, the Business will also make payments for building depreciation of approximately $290 million at varying dates through fiscal year 2035.

The Business accounts for its ownership position of each entity within Flash Ventures under the equity method of accounting. The financial and other support provided by the Business in all periods presented was either contractually required or the result of a joint decision to expand wafer capacity, transition to new technologies or refinance existing equipment lease commitments. Entities within Flash Ventures are VIEs. The Business evaluated whether it is the primary beneficiary of any of the entities within Flash Ventures for all periods presented and determined that it is not the primary beneficiary of any of the entities within Flash Ventures because it does not have a controlling financial interest in any of those entities. In determining whether the Business is the primary beneficiary, the Business analyzed the primary purpose and design of Flash Ventures, the activities that most significantly impact Flash Ventures’ economic performance, and whether the Business had the power to direct those activities. The Business concluded, based upon its 49.9% ownership, the voting structure and the manner in which the

day-to-day

operations are conducted for each entity within Flash Ventures, that the Business lacked the power to direct most of the activities that most significantly impact the economic performance of each entity within Flash Ventures.

The following table presents the notes receivable from, and equity investments in, Flash Ventures for the periods presented:


	June 28, 2024		June 30, 2023
	(in millions)
Notes receivable, Flash Partners	$	1	$	37
Notes receivable, Flash Alliance		5		48
Notes receivable, Flash Forward		485		709
Investment in Flash Partners		148		160
Investment in Flash Alliance		219		274
Investment in Flash Forward		143		183

Total notes receivable and investments in Flash Ventures	$	1,001	$	1,411

During 2024, 2023 and 2022 the Business made net payments to Flash Ventures of $3.35 billion, $4.20 billion, $4.70 billion for purchased flash-based memory wafers and net loans.

The Business makes, or will make, loans to Flash Ventures to fund equipment investments for new process technologies and additional wafer capacity. The Business aggregates its Flash Ventures’ notes receivable into one class of financing receivables due to the similar ownership interest and common structure in each Flash Venture entity. For all reporting periods presented, no loans were past due, and no loan impairments were recorded. The Business’s notes receivable from each Flash Ventures entity, denominated in Japanese yen, are secured by equipment owned by that Flash Ventures entity.

As of June 28, 2024, and June 30, 2023, the Business had accounts payable balances due to Flash Ventures of $313 million and $292 million, respectively.


		June 28, 2024
		(in millions)
Notes receivable	$	491
Equity investments		510
Operating lease guarantees		1,299
Inventory and prepayments		1,069

Maximum estimable loss exposure	$	3,369

As of June 28, 2024, the Business’s Parent company net investment included undistributed earnings of Flash Ventures of $162 million.

The Business is obligated to pay for variable costs incurred in producing its share of Flash Ventures’ flash-based memory wafer supply, based on its three-month forecast, which generally equals 50% of Flash Ventures’ output. In addition, the Business is obligated to pay for half of Flash Ventures’ fixed costs regardless of the output the Business chooses to purchase. The Business is not able to estimate its total wafer purchase commitment obligation beyond its rolling three-month purchase commitment because the price is determined by reference to the future cost of producing the semiconductor wafers. In addition, the Business is committed to fund 49.9% to 50.0% of capital investments that a Flash Ventures entity decided to make to the extent that Flash Ventures entity’s operating cash flow is insufficient to fund these investments.

Flash Ventures has historically operated near 100% of its manufacturing capacity. During 2024 and 2023, as a result of flash business conditions, the Business temporarily reduced its utilization of its share of Flash Ventures’ manufacturing capacity to an abnormally low level to more closely align the Business’s flash-based wafer supply with projected demand. In 2024 and 2023, the Business incurred costs of $249 million and $286 million, respectively, associated with the reduction in utilization related to Flash Ventures, which was recorded as a charge to cost of revenue.

In February 2022, contamination of certain material used in manufacturing processes occurred at both the Yokkaichi and Kitakami, Japan fabrication facilities, resulting in damage to inventory units in production, a temporary disruption to production operations and a reduction in the Business’s flash wafer availability. During 2022, the Business incurred charges of $207 million related to this contamination incident that were recorded in cost of revenue, which primarily consisted of scrapped inventory and rework costs, decontamination and other costs needed to restore the facilities to normal capacity and under absorption of overhead costs. During 2024, the Business received a recovery of $36 million related to this incident from its insurance carriers, which was recorded in cost of revenue. The Business continues to pursue recovery of its remaining losses associated with this event; however, the total amount of recovery cannot be estimated at this time.

Inventory Purchase Commitments with Flash Ventures.

Purchase orders placed under Flash Ventures for up to three months are binding and cannot be canceled.

Research and Development Activities.

The Business participates in common R&D activities with Kioxia and is contractually committed to a minimum funding level. R&D commitments are immaterial to the Combined Financial Statements.

Off-Balance

Sheet Liabilities

Flash Ventures sells to and leases back from a consortium of financial institutions a portion of its tools and has entered into equipment lease agreements of which the Business guarantees half or all of the outstanding obligations under each lease agreement. The lease agreements are subject to customary covenants and cancellation events related to Flash Ventures and each of the guarantors. The occurrence of a cancellation event could result in an acceleration of Flash Ventures’ obligations and a call on the Business’s guarantees.


	June 28, 2024 Lease Amounts
	(Japanese yen, in billions)		(U.S. dollar, in millions)
Total guarantee obligations	¥	208	$	1,299


Annual Installments	Payment of Principal Amortization		Purchase Option Exercise Price at Final Lease Terms		Guarantee Amount
	(in millions)
2025	$	285	$	74	$	359
2026		359		111		470
2027		164		95		259
2028		58		92		150
2029		11		50		61

Total guarantee obligations	$	877	$	422	$	1,299

The Business and Kioxia have agreed to mutually contribute to, and indemnify each other and Flash Ventures for, environmental remediation costs or liability resulting from Flash Ventures’ manufacturing operations in certain circumstances. The Business has not made any indemnification payments, nor recorded any indemnification receivables under any such agreements. As of June 28, 2024, no amounts have been accrued in the Combined Financial Statements with respect to these indemnification agreements.

Unis Ventures

WDC also has a joint venture with Unisplendour Corporation Limited and Unissoft (Wuxi) Group Co. Ltd. (“Unis”), referred to as the “Unis Venture”, to market and sell the Business’s products in China and to develop data storage systems for the Chinese market in the future. Pursuant to the separation and distribution agreement, it is expected that the Unis Venture will be minority owned by the Business and majority owned by Unis following the separation. The Unis Venture has not historically been managed as a component of the Business and as such the related equity method investment is not reflected within our Combined Financial Statements. For the years ended June 28, 2024, June 30, 2023, and July 1, 2022, the Business recognized approximately 1%, 2% and 1% of its combined revenue on products distributed by the Unis Venture, respectively. The outstanding accounts receivable due from the Unis Venture was 4% and 2% of Accounts receivable, net as of June 28, 2024, and June 30, 2023, respectively.

Agreement to Sell a Majority Interest in our Parent’s Subsidiary

In March 2024, SanDisk China (an indirect wholly owned subsidiary of WDC) entered into an Equity Purchase Agreement to sell

% of its equity interest in SanDisk Semiconductor (Shanghai) Co. Ltd. (“SDSS”) (an indirect wholly-owned subsidiary of WDC which holds one of the Business’s manufacturing facilities) to JCET Management Co., Ltd. (“JCET”, a wholly-owned subsidiary of JCET Group Co., Ltd. a Chinese publicly listed company), thereby forming a joint venture between SanDisk China and JCET. Closing of the transaction is subject to the satisfaction or waiver of certain conditions, after which, JCET will own 80% of the equity interest in SDSS, with SanDisk China owning the remaining 20%. Following the Closing, our Parent expects to enter into various ancillary agreements, including (i) a shareholders agreement governing the joint venture relationships from and after the Closing; (ii) a supply agreement with the joint venture to supply the Business with certain flash-based products currently produced by SDSS, which may include flash memory cards, embedded flash products and flash components; and (iii) an intellectual property license agreement granting SDSS certain intellectual property rights on a royalty-free basis for use in manufacturing products on the Business’s behalf for the term of and pursuant to the Supply Agreement.

Related Party Transactions

Notes Due to (from) Parent

The Business receives financing from certain of the Parent’s subsidiaries in the form of borrowings under revolving credit agreements and promissory notes to fund activities primarily related to Flash Ventures. Additionally, cash generated by the Business may be lent via promissory notes to certain of the Parent’s subsidiaries for use in general corporate purposes. Outstanding balances due under these financing arrangements are due on demand.


Notes due to (from) Parent	Interest Rate	June 28, 2024			June 30, 2023
Notes due from Parent			(in millions)
Revolving Credit Agreement due from Parent $101M - Oct. 3, 2019	AFR Rate (USD) or TIBOR + .35% (YEN)	$	(102	)	$	—
Notes due from Parent $40M - Dec. 19, 2018	.15% through Dec. 2021, .33% through Dec. 2022 and 4.55% through Maturity Date		—			(40	)
Notes due from Parent $10M - Mar. 29, 2019	1.5% through Mar 2022, .97% through Mar. 2023, and 4.5% through Maturity Date		—			(10	)
Notes due from Parent $8M - Jul. 25, 2019	.18% through Jul 2021, .12% through July 2022, and 2.37% through Maturity Date		—			(8	)
Revolving Credit Agreement due from Parent $1B - Dec. 20, 2019	AFR Rate (USD) or TIBOR + .35% (YEN)		—			(4	)
Revolving Credit Agreement due from Parent $100M October 27, 2021	LIBOR Rate + 150 basis points		—			(1	)

Total Notes due from Parent			(102	)		(63	)
Notes due to Parent
Notes due to Parent $500M - Nov. 25, 2014	1-year swap + 2%		475			467
Notes Due to Parent $42B Yen - April 29, 2014	TIBOR + .35%		262			291
Revolving Credit Agreement due to Parent $100M - Aug. 20, 2021	LIBOR Rate + 150 basis points		77			77
Revolving Credit Agreement due to Parent $1B - Dec. 20, 2019	AFR Rate (USD) or TIBOR + .35% (YEN)		—			29
Revolving Credit Agreement due to Parent - $1B - Dec. 20, 2019	AFR Rate (USD) or TIBOR + .35% (YEN)		—			24
Notes Due to Parent $60M - Feb. 22 2023	Safe Notice Rate - 6.698%		—			31

Total Notes due to Parent			814			919

	Total Notes due to Parent, net	$712			$856


	Years Ended
	June 28, 2024			June 30, 2023			July 1, 2022
	(in millions)
Interest income on notes due from Parent	$	6		$	16		$	3
Interest expense on notes due to Parent	$	(37	)	$	(29	)	$	(13	)

Allocation of Corporate expenses

The Parent has provided various corporate services to the Business in the ordinary course of business, including executive management, finance, tax, legal, information technology, employee benefits administration, treasury, risk management, procurement and other shared services. These corporate expenses have been allocated to the Business based on direct usage or benefit, where identifiable, with the remainder allocated based on headcount, revenue or other relevant measures. Management believes the basis on which the expenses have been allocated to be a reasonable reflection of the utilization of services provided to or the benefit received by us.

The table below summarizes the impact of expense allocations from WDC within the Combined Statements of Operations for the periods presented:


	Years Ended
	June 28, 2024			June 30, 2023		July 1, 2022
	(in millions)
Research and development	$	723		$	750	$	884
Selling, general and administrative		418			452		470
Employee termination, asset impairment and other		(40	)		61		(2	)
Business separation costs		64			—		—

Total allocation of Corporate expenses	$	1,165		$	1,263	$	1,352

Cash Management

WDC provides funding for our operating and investing activities including pooled cash managed by WDC treasury to fund operating expenses and capital expenditures. WDC also directly collects certain of our receivables. These activities are reflected as a component of Parent company net investment, and this arrangement is not reflective of the manner in which we would operate on a standalone business separate from WDC during the periods presented.

Parent Company Net Investment

Parent company net investment on the Combined Balance Sheets represents WDC’s historical investment in the Business, the net effect of transactions with and allocations from WDC, the Business’s retained earnings and cumulative effect adjustments from the adoption of new accounting standards.

Net Transfers from (to) Parent


	Years Ended
	June 28, 2024			June 30, 2023			July 1, 2022
	(in millions)
Net transfers from (to) Parent per Combined Statement of Changes in Parent Company Net Investment	$	275		$	376		$	(922	)
Property, plant and equipment, net transferred from Parent		(11	)		(18	)		(13	)
Deferred taxes, net transferred to Parent		17			2			2
Notes due from Parent transferred to Parent		113			316			—

Net transfers from (to) Parent per Combined Statements of Cash Flows	$	394		$	676		$	(933	)

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Geographic Information and Concentrations of Risk - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Disaggregation of Revenue [Line Items]
Revenue, net	$ 3,759	$ 3,198
The Flash Business of Western Digital Corporation [Member]
Disaggregation of Revenue [Line Items]
Revenue, net			$ 6,663	$ 6,086	$ 9,754
UNITED STATES \| The Flash Business of Western Digital Corporation [Member]
Disaggregation of Revenue [Line Items]
Revenue, net			933	1,133	1,768
CHINA \| The Flash Business of Western Digital Corporation [Member]
Disaggregation of Revenue [Line Items]
Revenue, net			2,549	2,302	3,769
HONG KONG \| The Flash Business of Western Digital Corporation [Member]
Disaggregation of Revenue [Line Items]
Revenue, net			1,044	690	1,324
Asia
Disaggregation of Revenue [Line Items]
Revenue, net	2,236	2,173
Asia \| The Flash Business of Western Digital Corporation [Member]
Disaggregation of Revenue [Line Items]
Revenue, net			917	898	1,391
Americas
Disaggregation of Revenue [Line Items]
Revenue, net	832	487
Europe, Middle East and Africa
Disaggregation of Revenue [Line Items]
Revenue, net	691	538
Europe, Middle East and Africa \| The Flash Business of Western Digital Corporation [Member]
Disaggregation of Revenue [Line Items]
Revenue, net			1,058	930	1,349
Other \| The Flash Business of Western Digital Corporation [Member]
Disaggregation of Revenue [Line Items]
Revenue, net			162	133	153
Cloud
Disaggregation of Revenue [Line Items]
Revenue, net	550	58
Cloud \| The Flash Business of Western Digital Corporation [Member]
Disaggregation of Revenue [Line Items]
Revenue, net			325	500	1,264
Client
Disaggregation of Revenue [Line Items]
Revenue, net	2,097	1,967
Client \| The Flash Business of Western Digital Corporation [Member]
Disaggregation of Revenue [Line Items]
Revenue, net			4,069	3,637	6,038
Consumer
Disaggregation of Revenue [Line Items]
Revenue, net	$ 1,112	$ 1,173
Consumer \| The Flash Business of Western Digital Corporation [Member]
Disaggregation of Revenue [Line Items]
Revenue, net			$ 2,269	$ 1,949	$ 2,452

Summarized Financial Information - Summary of Investments in Flash Ventures (Detail) - USD ($) $ in Millions	Dec. 27, 2024	Jun. 28, 2024	Jun. 30, 2023
Schedule of Equity Method Investments [Line Items]
Current assets	$ 4,456	$ 3,548
Total assets	14,234	13,506
Current liabilities	1,873	2,123
Total liabilities	$ 2,233	2,424
The Flash Business of Western Digital Corporation [Member]
Schedule of Equity Method Investments [Line Items]
Current assets		3,548	$ 3,400
Total assets		13,506	13,820
Current liabilities		2,123	2,174
Total liabilities		2,424	2,381
Flash ventures \| The Flash Business of Western Digital Corporation [Member]
Schedule of Equity Method Investments [Line Items]
Current assets		777	666
Non-current assets		5,783	7,585
Total assets		6,560	8,251
Current liabilities		2,225	2,716
Non-current liabilities		3,312	4,297
Total liabilities		5,537	7,013
Total net equity of investees		$ 1,023	$ 1,238

Related Parties and Related Commitments and Contingencies - Unis Venture (Details)	6 Months Ended		12 Months Ended
	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Accounts Receivable \| Customer Concentration Risk \| Unis Venture
Concentration Risk [Line Items]
Concentration risk, percentage	1.00%		4.00%
Unis Venture \| Revenue from Contract with Customer \| Product Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	1.00%	1.00%
Unis Venture \| Revenue from Contract with Customer \| Product Concentration Risk \| The Flash Business of Western Digital Corporation [Member]
Concentration Risk [Line Items]
Concentration risk, percentage			1.00%	2.00%	1.00%
Unis Venture \| Accounts Receivable \| Customer Concentration Risk \| The Flash Business of Western Digital Corporation [Member]
Concentration Risk [Line Items]
Concentration risk, percentage			4.00%	2.00%
SanDisk China [Member] \| The Flash Business of Western Digital Corporation [Member]
Concentration Risk [Line Items]
Equity Method Investment, Ownership Percentage			20.00%

Subsequent Events	6 Months Ended	12 Months Ended
Subsequent Events	Dec. 27, 2024	Jun. 28, 2024
Subsequent Event [Line Items]
Subsequent Events	Note 15. Subsequent Events Completion of the spin-off On January 31, 2025, the Company’s Form 10 was declared effective by the SEC. On February 21, 2025, the Company completed its spin-off from WDC (the “Spin-Off”) through WDC’s pro rata distribution of 80.1% of the outstanding shares of common stock of the Company to WDC’s existing stockholders. Each of WDC’s stockholders received one-third (1/3) of one share of the Company’s common stock for each share of WDC’s common stock held by such WDC stockholder as of February 12, 2025, the record date of the distribution. Upon completion of the Spin-Off, WDC owned 19.9% of the outstanding shares of the Company’s common stock, which WDC is expected to retain for a period of up to 12 months following the separation. The Company is also subject to various agreements with WDC in connection with the separation. On February 24, 2025, the Company began trading as an independent, publicly traded company under the stock symbol “SNDK” on the Nasdaq Stock Market LLC (“Nasdaq”). In connection with, and as of the closing date of the Spin-Off, on February 21, 2025, the Company entered into definitive agreements with WDC that set forth the terms and conditions of the Spin-Off and provide a framework for WDC’s relationship with the Company following the Spin-Off. These agreements include the Separation and Distribution Agreement (as described below), which contains certain key provisions related to the Spin-Off, as well as a Transition Services Agreement, a Tax Matters Agreement, an Employee Matters Agreement, an Intellectual Property Cross-License Agreement, a Transitional Trademark License Agreement, and a Stockholder and Registration Rights Agreement, as described in and filed as Exhibits to the Company’s Current Report on Form 8-K on February 24, 2025. Additionally, the Company adopted certain compensation plans, which were filed as Exhibits to our Form 10. Loan Agreement On February 21, 2025, the Company entered into a Loan Agreement (the “Loan Agreement”) by and among the Company, the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent and the other parties party thereto. The Loan Agreement comprises a term loan B facility in the principal amount of $2 billion (the “Term Loan Facility”) and a revolving credit facility in the principal amount of $1.5 billion (the “Revolving Credit Facility” and together with the Term Loan Facility, the “Facilities”). The Term Loan Facility bears interest, at the Company’s option, at (x) the Adjusted Term SOFR Rate (as defined in the Loan Agreement) plus an interest rate margin of 3.00% per annum or (y) a base rate plus an interest rate margin of 2.00% per annum. The Term Loan Facility will mature on February 20, 2032, and amortizes at 1.00% per annum. Borrowings under the Revolving Credit Facility, for U.S. dollar borrowings, will bear interest, at the Company’s option, at (x) the Adjusted Term SOFR Rate (as defined in the Loan Agreement), which rate includes a credit spread adjustment of 0.10%, plus an interest rate margin of 2.00% per annum (subject to step-ups based on the Company’s Leverage Ratio (as defined in the Loan Agreement)), or (y) a base rate plus an interest rate margin of 1.00% per annum (subject to step-ups based on the Company’s Leverage Ratio (as defined in the Loan Agreement)). The Company will pay a commitment fee of 0.30% per annum (subject to step-ups based on the Company’s Leverage Ratio (as defined in the Loan Agreement)) in respect of undrawn revolving commitments under the Revolving Credit Facility. The Revolving Credit Facility will also provide for borrowings in Euros, Yen and additional currencies agreed to by the lenders under the Revolving Credit Facility. The Revolving Credit Facility will mature on February 21, 2030, at which time the commitments thereunder shall be terminated and will not have any amortization. The obligations under the Loan Agreement are guaranteed by the Company’s wholly owned subsidiary, Sandisk Technologies, Inc. (“SDT”) and are required to be guaranteed by any of the Company’s future material U.S. wholly owned subsidiaries, subject to certain exceptions outlined in the Loan Agreement. The obligations under the Loan Agreement are secured by the Company’s assets and SDT’s assets and are required to be secured by the assets of any of the Company’s future material U.S. wholly owned subsidiaries, subject, in each case, to certain exceptions outlined in the Loan Agreement. The Loan Agreement includes certain restrictions (subject to certain exceptions outlined in the Loan Agreement) on the ability of the Company and its subsidiaries to undertake certain activities, including to incur indebtedness and liens, merge or consolidate with other entities, dispose or transfer their assets, pay dividends or make distributions, make investments, make payments on junior or subordinated debt, enter into burdensome agreements or transact with affiliates. The Loan Agreement also includes a financial covenant, which is solely for the benefit of the lenders under the Revolving Credit Facility, that requires the Company to maintain a maximum Leverage Ratio (as defined in the Loan Agreement). On February 21, 2025, the Company borrowed $2 billion under its Term Loan Facility. The Company used a portion of the proceeds of the borrowing to pay a dividend to WDC in the amount of approximately $1.5 billion, with the remainder to be used for general corporate purposes of the Company. The Revolving Credit Facility may be borrowed by the Company from time to time for general corporate purposes. In connection with the Loan Agreement, the Company and SDT entered into a security agreement (the “Security Agreement”) to secure the obligations under the Facilities on a first-priority basis (subject to permitted liens) by a lien on substantially all the assets and properties of the Company and SDT, subject to certain exceptions. In connection with the Loan Agreement, the Company (solely with respect to obligations of any additional Borrower under the Loan Agreement) and SDT entered into a guaranty agreement (the “Guaranty Agreement”) to secure and unconditionally guarantee the obligations under the Loan Agreement, respectively, in each case subject to certain exceptions. The foregoing description of the Loan Agreement, Security Agreement and Guaranty Agreement do not purport to be complete and are subject to, and qualified in its entirety by, the full text of the Loan Agreement, Security Agreement and Guaranty Agreement. Potential Impairment of Goodwill and Long-lived Assets Subsequent to the completion of the separation, the Company identified potential impairment indicators related to the trading price of the Company’s common stock and a resulting market capitalization that was below its December 27, 2024 net book value. In accordance with Accounting Standards Codification No. 350, Intangibles - Goodwill and Other, the Company initiated a quantitative analysis of potential impairment of goodwill and long-lived assets. That analysis is ongoing, and the Company believes it is more likely than not that it will record an impairment charge in the three months end ed March 28, 2025. See Note 5, Supplemental Financial Statement Data , for information about how goodwill is tested for impairment.
The Flash Business of Western Digital Corporation [Member]
Subsequent Event [Line Items]
Subsequent Events		Note 16. Subsequent Events We have evaluated subsequent events after the balance sheet date of June 28, 2024, through October 11, 2024, which was the date these Combined Financial Statements were available to be issued. On September 28, 2024, SanDisk China closed on the Transaction to sell 80% of its equity interest in SDSS to JCET. Proceeds net from the sale are expected to be approximately $624 million, subject to certain working capital adjustments and payment of withholding taxes.

Income Tax Expense - components of the income tax expense (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Deferred
Deferred Total	$ 23	$ 1
Total income tax expense (benefit)	$ 125	$ 65
The Flash Business of Western Digital Corporation [Member]
Current
Foreign			$ 158	$ 138	$ 84
U.S. - Federal			20	76	141
U.S. - State			7	8	13
Current Total			185	222	238
Deferred
Foreign			7	(15)	24
U.S. - Federal			(19)	(65)	(82)
U.S. - State			(4)	(1)	(10)
Deferred Total			(16)	(81)	(68)
Total income tax expense (benefit)			$ 169	$ 141	$ 170

Stock-based Compensation Expense - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation	$ 89	$ 77
Unrecognized stock-based compensation expense	303
The Flash Business of Western Digital Corporation [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation			$ 149	$ 165	$ 171
Unrecognized stock-based compensation expense			142
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation	9	10
Cost of revenue \| The Flash Business of Western Digital Corporation [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation			20	19	18
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation	40	35
Research and development \| The Flash Business of Western Digital Corporation [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation			71	88	94
Selling general, and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation	$ 40	$ 32
Selling general, and administrative \| The Flash Business of Western Digital Corporation [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expenses on stock-based compensation			$ 58	$ 58	$ 59

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Geographic Information and Concentrations of Risk (Tables)

6 Months Ended

12 Months Ended

Dec. 27, 2024

Jun. 28, 2024

Schedule of Disaggregation of Revenue

The Company’s disaggregated revenue information was as follows:


	Six Months Ended
	December 27, 2024		December 29, 2023
	(in millions)
Revenue by end market
Cloud	$	550	$	58
Client		2,097		1,967
Consumer		1,112		1,173

Total revenue	$	3,759	$	3,198

Revenue by geography
Asia	$	2,236	$	2,173
Americas		832		487
Europe, Middle East and Africa		691		538

Total revenue	$	3,759	$	3,198

The Flash Business of Western Digital Corporation [Member]

Schedule of Disaggregation of Revenue

The Business’s disaggregated revenue information is as follows:


	2024		2023		2022
	(in millions)
Revenue by end market
Cloud	$	325	$	500	$	1,264
Client		4,069		3,637		6,038
Consumer		2,269		1,949		2,452

Total revenue	$	6,663	$	6,086	$	9,754


	2024		2023		2022
	(in millions)
Net revenue 1
United States	$	933	$	1,133	$	1,768
China		2,549		2,302		3,769
Hong Kong		1,044		690		1,324
Rest of Asia		917		898		1,391
Europe, Middle East and Africa		1,058		930		1,349
Other		162		133		153

Total	$	6,663	$	6,086	$	9,754

(1)	Net revenue is attributed to geographic regions based on the ship-to location of the customer. License and royalty revenue is attributed to countries based upon the location of the headquarters of the licensee.

Schedule of f Long Lived Assets

The Business’s long-lived assets, including property, plant and equipment by geographic area, are as follows:


	2024		2023
	(in millions)
Long-lived assets 2
United States	$	77	$	154
China		249		298
Malaysia		388		390
Rest of Asia		4		4
Europe, Middle East and Africa		73		87

Total	$	791	$	933

(2)	Long-lived assets include property, plant and equipment and are attributed to the geographic location in which they are located.

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Leases and Other Commitments (Tables)

6 Months Ended

12 Months Ended

Dec. 27, 2024

Jun. 28, 2024

Schedule of Supplemental Balance Sheet Disclosures

The following table presents right-of-use lease assets and lease liabilities included in the Company’s Condensed Combined Balance Sheets:


	December 27, 2024		June 28, 2024
	(in millions)
Operating lease right-of-use assets (included in other non-current assets)	$	191	$	179
Operating lease liabilities:
Current portion of long-term operating lease liabilities (included in accrued expenses)		17		11
Long-term operating lease liabilities (included in other liabilities)		179		171

Total operating lease liabilities	$	196	$	182

Schedule of Supplemental Cash Flow

The following table summarizes supplemental disclosures of operating cost and cash flow information related to operating leases:


	Six Months Ended
	December 27, 2024		December 29, 2023
	(in millions)
Cost of operating leases	$	16	$	13
Cash paid for operating leases		14		14
Operating lease assets obtained in exchange for operating lease liabilities		4		167

The weighted average remaining lease term and discount rate for the Company’s operating leases were as follows:


	December 27, 2024			June 28, 2024
Weighted average remaining lease term in years		12.6			13.7
Weighted average discount rate		7.4	%		7.5	%

Schedule of Minimum Lease Payments

As of December 27, 2024, minimum lease payments were as follows:


	Lease Amounts
	(in millions)
Minimum lease payments by fiscal year:
Remaining six months of 2025	$	14
2026		30
2027		28
2028		20
2029		20
Thereafter		198

Total future minimum lease payments		310
Less: Imputed interest		114

Present value of lease liabilities	$	196

Schedule of Minimum Long-Term Commitments

As of December 27, 2024, the Company had the following minimum long-term commitments:


	Long-term commitments
	(in millions)
Fiscal year:
Remaining six months of 2025	$	26
2026		496
2027		586


	Long-term commitments
	(in millions)
2028		570
2029		570
Thereafter		660

Total	$	2,908

The Flash Business of Western Digital Corporation [Member]

Schedule of Supplemental Balance Sheet Disclosures

The following table presents

right-of-use-lease

assets and lease liabilities included in the Business’s Combined Balance Sheets:


	June 28, 2024		June 30, 2023
	(in millions)
Operating lease right-of-use assets (included in other non-current assets)	$	179	$	93
Operating lease liabilities:
Current portion of long-term operating lease liabilities (included in accrued expenses)		11		13
Long-term operating lease liabilities (included in other liabilities)		172		87

Total operating lease liabilities	$	183	$	100

Schedule of Supplemental Cash Flow

The following tables summarize supplemental disclosures of operating cost and cash flow information related to operating leases:


	Years ended
	June 28, 2024		June 30, 2023		July 1, 2022
	(in millions)
Cost of operating leases	$	29	$	21	$	22
Cash paid for operating leases		30		14		10
Operating lease assets obtained in exchange for operating lease liabilities		167		3		107
Decrease in operating lease liabilities and right-of-use assets due to lease remeasurement		71		—		—

The weighted average remaining lease term and discount rate for the Business’s operating leases were as follows:


	2024			2023
Weighted average remaining lease term in years		13.7			7.8
Weighted average discount rate		7.5	%		3.0	%

Schedule of Minimum Lease Payments

As of June 28, 2024, minimum lease payments were as follows:


	Lease Amounts
	(in millions)
2025	$	23
2026		22
2027		21
2028		19
2029		19
Thereafter		199

Total future minimum lease payments		303
Less: Imputed interest		120

Present value of lease liabilities	$	183

Schedule of Minimum Long-Term Commitments

As of June 28, 2024, the Business had the following minimum long-term commitments:


	Long-term commitments
	(in millions)
Fiscal year:
2025	$	43
2026		51
2027		32
2028		20
2029		20
Thereafter		110

Total	$	276

Supplemental Financial Statement Data - Goodwill Roll Forward (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended		12 Months Ended
	Dec. 27, 2024	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Goodwill [Roll Forward]
Balance at Beginning Period		$ 7,207
Divestiture		(382)
Impairment	$ 0	0	$ 0	$ 0		$ 0
Balance at Ending Period	$ 6,825	$ 6,825		7,207
Carrying value, percentage	12.00%	12.00%
The Flash Business of Western Digital Corporation [Member]
Goodwill [Roll Forward]
Balance at Beginning Period		$ 7,207	$ 7,212	7,212	$ 7,887	7,912
Reduction in goodwill in connection with disposition of business						(14)
Foreign currency translation adjustment				(5)	(4)	(11)
Impairment				0	(671)	0
Balance at Ending Period				$ 7,207	$ 7,212	$ 7,887

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 49
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-49

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481372/852-10-55-10

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482598/350-20-45-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(10)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1

Schedule of Equity Method Investments [Line Items]

Income Tax Expense - Schedule of Unrecognized Tax Benefits Roll Forward (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Dec. 27, 2024	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Income Tax Expense [Line Items]
Unrecognized tax benefit, beginning balance	$ 47
Gross increases related to current year tax positions	3
Gross increases related to prior year tax positions	17
Gross decreases related to prior year tax positions	(7)
Unrecognized tax benefit, ending balance	60	$ 47
The Flash Business of Western Digital Corporation [Member]
Income Tax Expense [Line Items]
Unrecognized tax benefit, beginning balance	$ 47	25	$ 17	$ 11
Gross increases related to current year tax positions		15	10	7
Gross increases related to prior year tax positions		10	1	0
Gross decreases related to prior year tax positions		(3)	(3)	(1)
Settlements		0	0	0
Unrecognized tax benefit, ending balance		$ 47	$ 25	$ 17

Revenues - Additional Information (Details) $ in Millions	Dec. 27, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 0

Legal Proceedings	6 Months Ended	12 Months Ended
Legal Proceedings	Dec. 27, 2024	Jun. 28, 2024
Legal Proceedings [Line Items]
Legal Proceedings	Note 14. Legal Proceedings In the normal course of business, the Company is subject to legal proceedings, lawsuits and other claims. Although the ultimate aggregate amount of reasonably possible monetary liability or financial impact with respect to these other matters is subject to many uncertainties, management believes that any monetary liability or financial impact to the Company from these matters, individually and in the aggregate, would not be material to the Company’s financial condition, results of operations or cash flows. However, any monetary liability and financial impact to the Company from these matters could differ materially from the Company’s expectations.
The Flash Business of Western Digital Corporation [Member]
Legal Proceedings [Line Items]
Legal Proceedings		Note 14. Legal Proceedings In the normal course of business, the Business is subject to legal proceedings, lawsuits and other claims. Although the ultimate aggregate amount of probable monetary liability or financial impact with respect to these other matters is subject to many uncertainties, management believes that any monetary liability or financial impact to the Business from these matters, individually and in the aggregate, would not be material to the Business’s financial condition, results of operations or cash flows. However, any monetary liability and financial impact to the Business from these matters could differ materially from the Business’s expectations.

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 27, 2024	Jun. 28, 2024	Jun. 30, 2023
Current assets:
Cash and cash equivalents	$ 804	$ 328
Accounts receivable, net	904	935
Inventories	2,172	1,955
Income tax receivable	8	7
Other current assets	568	221
Total current assets	4,456	3,548
Non-current assets:
Property, plant and equipment, net	579	791
Notes receivable and investments in Flash Ventures	871	1,001
Goodwill	6,825	7,207
Deferred tax assets	96	96
Income tax receivable, non-current	13	11
Other non-current assets	1,394	852
Total assets	14,234	13,506
Current liabilities:
Accrued expenses	438	424
Accrued compensation	188	195
Income tax payables	5	20
Total current liabilities	1,873	2,123
Non-current liabilities:
Deferred tax liabilities	53	15
Other liabilities	307	286
Total liabilities	2,233	2,424
Commitments and contingencies (Notes 9, 10, 12 and 14)
Parent company net investment
Parent company net investment	12,435	11,534
Accumulated other comprehensive loss	(434)	(452)
Total Parent company net investment	12,001	11,082	$ 11,439
Total liabilities and Parent company net investment	14,234	13,506
The Flash Business of Western Digital Corporation [Member]
Current assets:
Cash and cash equivalents		328	292
Accounts receivable, net		935	539
Inventories		1,955	2,269
Income tax receivable		7	3
Other current assets		221	234
Total current assets		3,548	3,400
Non-current assets:
Property, plant and equipment, net		791	933
Notes receivable and investments in Flash Ventures		1,001	1,411
Goodwill		7,207	7,212
Deferred tax assets		96	76
Income tax receivable, non-current		11	9
Other non-current assets		852	779
Total assets		13,506	13,820
Current liabilities:
Accrued expenses		424	483
Accrued compensation		195	98
Income tax payables		20	48
Total current liabilities		2,123	2,174
Non-current liabilities:
Deferred tax liabilities		15	28
Other liabilities		286	179
Total liabilities		2,424	2,381
Commitments and contingencies (Notes 9, 10, 12 and 14)
Parent company net investment
Parent company net investment		11,534	11,782
Accumulated other comprehensive loss		(452)	(343)
Total Parent company net investment		11,082	11,439
Total liabilities and Parent company net investment		13,506	13,820
Related Party
Current assets:
Notes due from Parent	0	102
Current liabilities:
Accounts payable	369	313
Notes due to Parent	553	814
Related Party \| The Flash Business of Western Digital Corporation [Member]
Current assets:
Notes due from Parent		102	63
Current liabilities:
Accounts payable		313	292
Notes due to Parent		814	919
Nonrelated Party
Current liabilities:
Accounts payable	$ 320	357
Nonrelated Party \| The Flash Business of Western Digital Corporation [Member]
Current liabilities:
Accounts payable		$ 357	$ 334

Supplemental Financial Statement Data - Summary Finite Lived Intangible Assets Amortization Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
The Flash Business of Western Digital Corporation [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Intangible asset amortization	$ 0	$ 133	$ 219

Leases and Other Commitments - Supplemental Balance Sheet (Details) - USD ($) $ in Millions	Dec. 27, 2024	Jun. 28, 2024	Jun. 30, 2023
Leases and Other Commitments [Line Items]
Operating lease right-of-use assets (included in other non-current assets)	$ 191	$ 179
Current portion of long-term operating lease liabilities (included in accrued expenses)	17	11
Long-term operating lease liabilities (included in other liabilities)	179	171
Total operating lease liabilities	$ 196	$ 182
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other non-current assets	Other non-current assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
The Flash Business of Western Digital Corporation [Member]
Leases and Other Commitments [Line Items]
Operating lease right-of-use assets (included in other non-current assets)		$ 179	$ 93
Current portion of long-term operating lease liabilities (included in accrued expenses)		11	13
Long-term operating lease liabilities (included in other liabilities)		172	87
Total operating lease liabilities		$ 183	$ 100
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]		Other non-current assets	Other non-current assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]		Accrued Liabilities, Current	Accrued Liabilities, Current
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Noncurrent	Other Liabilities, Noncurrent

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Cash flows from operating activities
Net Income (Loss)	$ 315	$ (819)
Adjustments to reconcile net income (loss) to net cash used in operations:
Depreciation and amortization	90	114
Stock-based compensation	89	77
Deferred income taxes	23	1
Goodwill impairment	(0)	0	$ 0		$ 0
(Gain) loss on disposal of assets	(1)	(60)
Gain on business divestiture	(34)	0
Non-cash portion of impairment of cost method investments	1	0
Unrealized foreign exchange (gain) loss	(5)	26
Equity (earnings) loss in investees, net of dividends received	59	4
Other non-cash operating activities, net	10	41
Settlement of accrued interest on Notes due to Parent	(96)	0
Changes in:
Accounts receivable, net	31	(145)
Inventories	(252)	657
Accounts payable	57	100
Accounts payable to related parties	(54)	(42)
Accrued expenses	13	(90)
Accrued compensation	6	7
Other assets and liabilities, net	(288)	(38)
Net cash used in operating activities	(36)	(167)
Cash flows from investing activities
Purchases of property, plant and equipment	(115)	(99)
Proceeds from the sale of property, plant and equipment	0	134
Proceeds from dispositions of business	191	0
Notes receivable issuances to Flash Ventures	(266)	(184)
Notes receivable proceeds from Flash Ventures	182	263
Distributions from Flash Ventures	176	0
Strategic investments and other, net	1
Strategic investments and other, net		(1)
Net cash provided by (used in) investing activities	169	113
Cash flows from financing activities
Proceeds from principal repayments on Notes due from Parent	101	0
Proceeds from borrowings on Notes due to Parent	550	0
Repayments of principal on Notes due to Parent	(76)	(14)
Origination of Notes due from Parent	0	(74)
Transfers from (to) Parent	(231)	274
Net cash provided by (used in) financing activities	344	186
Effect of exchange rate changes on cash	(1)	1
Net increase (decrease) in cash and cash equivalents	476	133
Cash and cash equivalents, beginning of year	328	292	292
Cash and cash equivalents, end of period	804	425	328	$ 292
Supplemental disclosure of cash flow information:
Non-cash transfers of property, plant and equipment from Parent	25	2
Cash paid for interest	99	6
Cash received for interest	2	7
Non-cash transfers of deferred taxes from Parent	0	8
Non-cash transfers of Notes due to Parent transferred from Parent	673	0
Non-cash transfers of other assets and liabilities, net, from Parent	37	0
Non-cash transfers of strategic investments from Parent	7	0
Non-cash transfers of liability for unrecognized tax benefits transferred from Parent	14	0
Non-cash transfers of Notes due from Parent transferred to Parent	0	113
The Flash Business of Western Digital Corporation [Member]
Cash flows from operating activities
Net Income (Loss)			(672)	(2,143)	1,064
Adjustments to reconcile net income (loss) to net cash used in operations:
Depreciation and amortization			224	448	525
Stock-based compensation			149	165	171
Deferred income taxes			(16)	(81)	(68)
Asset impairment			4	1	0
Goodwill impairment			0	671	0
(Gain) loss on disposal of assets			(60)	0	3
Gain on business divestiture			0	0	(9)
Gain on Sale of Investments			(1)	3	0
Impairment Of Equity Investments			0	0	6
Unrealized foreign exchange (gain) loss			13	(37)	31
Equity (earnings) loss in investees, net of dividends received			49	(45)	(51)
Other non-cash operating activities, net			87	114	79
Changes in:
Accounts receivable, net			(395)	750	(165)
Inventories			314	(277)	(56)
Accounts payable			32	(124)	39
Accounts payable to related parties			21	(23)	(78)
Accrued expenses			(51)	(104)	160
Accrued compensation			99	(56)	(31)
Other assets and liabilities, net			(106)	31	(469)
Net cash used in operating activities			(309)	(713)	1,151
Cash flows from investing activities
Purchases of property, plant and equipment			(166)	(219)	(410)
Proceeds from the sale of property, plant and equipment			137	0	1
Proceeds from dispositions of business			0	0	25
Notes receivable issuances to Flash Ventures			(243)	(627)	(809)
Notes receivable proceeds from Flash Ventures			482	641	718
Strategic investments and other, net			0	16	3
Net cash provided by (used in) investing activities			210	(189)	(472)
Cash flows from financing activities
Proceeds from principal repayments on Notes due from Parent			14	216	307
Proceeds from borrowings on Notes due to Parent			0	54	199
Repayments of principal on Notes due to Parent			(102)	(86)	0
Origination of Notes due from Parent			170	0	(223)
Transfers from (to) Parent			394	676	(933)
Net cash provided by (used in) financing activities			136	860	(650)
Effect of exchange rate changes on cash			(1)	(1)	(2)
Net increase (decrease) in cash and cash equivalents			36	(43)	27
Cash and cash equivalents, beginning of year	$ 328	$ 292	292	335	308
Cash and cash equivalents, end of period			328	292	335
Supplemental disclosure of cash flow information:
Non-cash transfers of property, plant and equipment from Parent			11	18	13
Cash paid for interest			12	7	2
Cash received for interest			10	12	2
Non-cash transfers of deferred taxes to Parent			(17)	(2)	(2)
Non-cash transfers of Notes due from Parent transferred to Parent			$ (113)	$ (316)	$ 0

Related Parties and Related Commitments and Contingencies - Schedule of Notes Receivable and Investments in Related Parties (Details) - USD ($) $ in Millions	Dec. 27, 2024	Jun. 28, 2024	Jun. 30, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes receivable and investments in Flash Ventures	$ 871	$ 1,001
The Flash Business of Western Digital Corporation [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes receivable and investments in Flash Ventures		1,001	$ 1,411
Flash Ventures
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes receivable and investments in Flash Ventures	871	1,001
Flash Ventures \| The Flash Business of Western Digital Corporation [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total notes receivable and investments in Flash Ventures		1,001	1,411
Flash Partners Ltd
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investments	41	148
Flash Partners Ltd \| The Flash Business of Western Digital Corporation [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investments		148	160
Flash Partners Ltd \| Related Party
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, related parties	72	1
Flash Partners Ltd \| Related Party \| The Flash Business of Western Digital Corporation [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, related parties		1	37
Flash Alliance Ltd
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investments	118	219
Flash Alliance Ltd \| The Flash Business of Western Digital Corporation [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investments		219	274
Flash Alliance Ltd \| Related Party
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, related parties	35	5
Flash Alliance Ltd \| Related Party \| The Flash Business of Western Digital Corporation [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, related parties		5	48
Flash Forward Ltd
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investments	129	143
Flash Forward Ltd \| The Flash Business of Western Digital Corporation [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investments		143	183
Flash Forward Ltd \| Related Party
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, related parties	$ 476	485
Flash Forward Ltd \| Related Party \| The Flash Business of Western Digital Corporation [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, related parties		$ 485	$ 709

Supplemental Financial Statement Data - Schedule of Current Portion of the Warranty Accrual (Details) - USD ($) $ in Millions	Dec. 27, 2024	Jun. 28, 2024	Dec. 29, 2023	Jun. 30, 2023	Jul. 01, 2022	Jul. 02, 2021
Warranty accrual:
Current portion	$ 22	$ 27
Long-term portion	22	21
Total warranty accrual	44	48	$ 43	$ 42
The Flash Business of Western Digital Corporation [Member]
Warranty accrual:
Current portion		27		23
Long-term portion		21		19
Total warranty accrual		48		$ 42	$ 52	$ 48
Sandisk Corporation [Member]
Warranty accrual:
Total warranty accrual	$ 44	$ 48

Subsequent Events (Details) - USD ($) $ in Millions	Feb. 21, 2025	Feb. 22, 2025	Sep. 28, 2024	Jun. 28, 2024
Disposal group, disposed of by sale, not discontinued operations [member]
Subsequent Event [Line Items]
Disposal group, percent of ownership sold			80.00%
Disposal group, including discontinued operation, consideration			$ 659
The Flash Business of Western Digital Corporation [Member] \| Sandisk Corporation
Subsequent Event [Line Items]
Ownership percentage				20.00%
Subsequent Event
Subsequent Event [Line Items]
Percent distribution of shares	80.10%
Subsequent Event \| Western Digital Corporation
Subsequent Event [Line Items]
Dividends paid	$ 1,500
Subsequent Event \| Term B Loan \| Line of Credit
Subsequent Event [Line Items]
Maximum borrowing capacity	$ 2,000
Amortization percentage	1.00%
Subsequent Event \| Term B Loan \| Line of Credit \| SOFR
Subsequent Event [Line Items]
Variable interest rate	3.00%
Subsequent Event \| Term B Loan \| Line of Credit \| Base Rate
Subsequent Event [Line Items]
Variable interest rate	2.00%
Subsequent Event \| Revolving Credit Facility \| Line of Credit
Subsequent Event [Line Items]
Maximum borrowing capacity	$ 1,500
Variable interest rate	0.10%
Commitment fee percentage	0.30%
Subsequent Event \| Revolving Credit Facility \| Line of Credit \| SOFR
Subsequent Event [Line Items]
Variable interest rate	2.00%
Subsequent Event \| Revolving Credit Facility \| Line of Credit \| Base Rate
Subsequent Event [Line Items]
Variable interest rate	1.00%
Subsequent Event \| Term Loan Facility \| Line of Credit
Subsequent Event [Line Items]
Proceeds from term loan	$ 2,000
Subsequent Event \| Western Digital Corporation
Subsequent Event [Line Items]
Percent distribution of shares	80.10%
Subsequent Event \| Western Digital Corporation \| Sandisk Corporation
Subsequent Event [Line Items]
Ownership percentage	19.90%	19.90%
Subsequent Event \| The Flash Business of Western Digital Corporation [Member] \| Disposal group, disposed of by sale, not discontinued operations [member] \| San disk semi conductor shanghai co ltd
Subsequent Event [Line Items]
Disposal group, percent of ownership sold			80.00%
Disposal group, including discontinued operation, consideration			$ 624

Leases and Other Commitments - Sale Leaseback (Details) $ in Millions	1 Months Ended		6 Months Ended	12 Months Ended
	Sep. 29, 2023 USD ($) OPTION	Aug. 31, 2023 USD ($) OPTION	Dec. 27, 2024 USD ($)	Jun. 28, 2024 USD ($)
Lessee, Lease, Description [Line Items]
Sale leaseback net cash proceeds	$ 191
Proceeds from sale leaseback transaction	134
Sale leaseback gain			$ 60
Sale leaseback annual lease rate	$ 16
Sale leaseback increase percentage	0.03
The Flash Business of Western Digital Corporation [Member]
Lessee, Lease, Description [Line Items]
Sale leaseback net cash proceeds		$ 191
Proceeds from sale leaseback transaction		134
Sale leaseback gain		60		$ 60
Sale leaseback annual lease rate		$ 16
Sale leaseback increase percentage		3
Through January 1, 2039
Lessee, Lease, Description [Line Items]
Sale leaseback number of renewal options \| OPTION	3
Sale leaseback renewal options term	5 years
Through January 1, 2039 \| The Flash Business of Western Digital Corporation [Member]
Lessee, Lease, Description [Line Items]
Sale leaseback number of renewal options \| OPTION		3
Sale leaseback renewal options term		5 years
Through December 2057
Lessee, Lease, Description [Line Items]
Sale leaseback renewal options term	4 years
Through December 2057 \| The Flash Business of Western Digital Corporation [Member]
Lessee, Lease, Description [Line Items]
Sale leaseback number of renewal options \| OPTION		1
Sale leaseback renewal options term		4 years

Leases and Other Commitments - Schedule of Supplemental Cash Flow (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Leases and Other Commitments [Line Items]
Cost of operating leases	$ 16	$ 13
Cash paid for operating leases	14	14
Operating lease assets obtained in exchange for operating lease liabilities	$ 4	$ 167
Weighted average remaining lease term in years	12 years 7 months 6 days		13 years 8 months 12 days
Weighted average discount rate	7.40%		7.50%
The Flash Business of Western Digital Corporation [Member]
Leases and Other Commitments [Line Items]
Cost of operating leases			$ 29	$ 21	$ 22
Cash paid for operating leases			30	14	10
Operating lease assets obtained in exchange for operating lease liabilities			$ 167	$ 3	107
Weighted average remaining lease term in years			13 years 8 months 12 days	7 years 9 months 18 days
Weighted average discount rate			7.50%	3.00%
Operating Lease, Right-of-Use Asset, Periodic Reduction			$ 71	$ 0	$ 0

Income Tax Expense - Schedule of major jurisdictions within which the Business receives foreign (Details) - The Flash Business of Western Digital Corporation [Member] $ in Millions	12 Months Ended
	Jun. 28, 2024 USD ($)
Income Tax Expense [Line Items]
Operating Loss Carryforwards	$ 0
MALAYSIA
Income Tax Expense [Line Items]
Operating Loss Carryforwards	$ 44
Operating Loss Carry Forwards Expiration	2028
NETHERLANDS
Income Tax Expense [Line Items]
Operating Loss Carryforwards	$ 12
Operating Loss Carry Forwards Expiration	2026

Summarized Financial Information (Table) - The Flash Business of Western Digital Corporation [Member]

12 Months Ended

Jun. 28, 2024

Summary of investments in Flash Ventures

Summarized financial information for equity method investments in Flash Ventures is as follows:


	June 28, 2024		June 30, 2023
	(in millions)
Current assets	$	777	$	666
Non-current assets		5,783		7,585

Total assets		6,560		8,251
Current liabilities		2,225		2,716
Non-current liabilities		3,312		4,297

Total liabilities		5,537		7,013

Total net equity of investees	$	1,023	$	1,238

Schedule of equity method investment summarized financial statement


	June 28, 2024			June 30, 2023		July 1, 2022
	(in millions)
Net sales	$	2,252		$	2,788	$	3,368
Gross profit (loss)		(51	)		138		240
Net income (loss)	$	(9	)	$	89	$	102

Supplemental Financial Statement Data - Additional Information (Detail) - USD ($) $ in Millions		3 Months Ended	6 Months Ended		12 Months Ended
	May 31, 2022	Dec. 27, 2024	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impairment		$ (0)	$ (0)	$ 0	$ 0		$ 0
Gain (Loss) on Disposition of Business			$ 34	0
Proceeds from Sale and Collection of Receivables				$ 272
The Flash Business of Western Digital Corporation [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impairment					0	$ 671	0
Sale Of Business Activity	$ 25
Gain (Loss) on Disposition of Business	$ 9				0	0	9
Proceeds from Sale and Collection of Receivables					339	370	103
Accounts Receivable, before Allowance for Credit Loss, Current					0	70
Depreciation expense for property, plant and equipment					$ 224	$ 315	$ 306

Fair Value Measurements and Investments

6 Months Ended

12 Months Ended

Dec. 27, 2024

Jun. 28, 2024

Fair Value Measurements and Investments

Note 6. Fair Value Measurements and Investments

Financial Instruments Carried at Fair Value

Financial assets and liabilities that are remeasured and reported at fair value at each reporting period are classified and disclosed in one of the following three levels:

Level 1.

Quoted prices in active markets for identical assets or liabilities.

Level 2.

Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3.

Inputs that are unobservable for the asset or liability and that are significant to the fair value of the assets or liabilities.

The following tables present information about the Company’s financial instruments that were measured at fair value on a recurring basis for the periods presented and indicate the fair value hierarchy of the valuation techniques utilized to determine such values:


	December 27, 2024
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Cash equivalents - Money market funds	$	232	$	—	$	—	$	232
Foreign exchange contracts (included in other current assets)		—		17		—		17

Total assets at fair value	$	232	$	17	$	—	$	249

Liabilities:
Foreign exchange contracts (included in accrued expenses)	$	—	$	145	$	—	$	145

Total liabilities at fair value	$	—	$	145	$	—	$	145


	June 28, 2024
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Cash equivalents - Money market funds	$	28	$	—	$	—	$	28
Foreign exchange contracts (included in other current assets)		—		7		—		7

Total assets at fair value	$	28	$	7	$	—	$	35

Liabilities:
Foreign exchange contracts (included in accrued expenses)	$	—	$	179	$	—	$	179

Total liabilities at fair value	$	—	$	179	$	—	$	179

During the periods presented, the Company had no transfers of financial instruments between levels and there were no changes in valuation techniques or the inputs used in the fair value measurement.

The Flash Business of Western Digital Corporation [Member]

Fair Value Measurements and Investments

Note 6. Fair Value Measurements and Investments

Financial Instruments Carried at Fair Value

Financial assets and liabilities that are remeasured and reported at fair value at each reporting period are classified and disclosed in one of the following three levels:


		Level 1 .		Quoted prices in active markets for identical assets or liabilities.

		Level 2 .		Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

		Level 3 .		Inputs that are unobservable for the asset or liability and that are significant to the fair value of the assets or liabilities.

The following tables present information about the Business’s financial assets and liabilities that are measured at fair value on a recurring basis, and indicate the fair value hierarchy of the valuation techniques utilized to determine such values for the periods presented:


	June 28, 2024
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Cash equivalents - Money market funds	$	28	$	—	$	—	$	28
Foreign exchange contracts	$	—	$	7	$	—	$	7

Total assets at fair value	$	28	$	7	$	—	$	35

Liabilities:
Foreign exchange contracts	$	—	$	179	$	—	$	179

Total liabilities at fair value	$	—	$	179	$	—	$	179


	June 30, 2023
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Foreign exchange contracts	$	—	$	31	$	—	$	31

Total assets at fair value	$	—	$	31	$	—	$	31

Liabilities:
Foreign exchange contracts	$	—	$	171	$	—	$	171

Total liabilities at fair value	$	—	$	171	$	—	$	171

Money Market Funds.

The Business’s money market funds are funds invested in U.S. Treasury and U.S. Government agency securities. Money market funds are valued based on quoted market prices.

Foreign Exchange Contracts.

The Business’s foreign exchange contracts are short-term contracts to hedge the Business’s foreign currency risk. Foreign exchange contracts are valued using an income approach that is based on the present value of a future cash flows model. The market-based observable inputs for the model include forward rates and credit default swap rates. For more information on the Business’s foreign exchange contracts, see Note 7,

Derivative Instruments and Hedging Activities

. Derivative assets and liabilities are reflected in the Business’s Combined Balance Sheets under other current assets and accrued expenses, respectively.

During 2024 and 2023, the Business had no transfers of financial assets and liabilities between levels and there were no changes in valuation techniques and the inputs used in the fair value measurement.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Employee Termination and Other Charges - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	6 Months Ended		12 Months Ended
	Aug. 31, 2023	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Restructuring Cost and Reserve [Line Items]
Gain (Loss) on Disposition of Other Assets		$ 1	$ 60
Sale leaseback gain		$ 60
The Flash Business of Western Digital Corporation [Member]
Restructuring Cost and Reserve [Line Items]
Gain (Loss) on Sale of Assets and Asset				$ 5
Gain (Loss) on Disposition of Other Assets				60	$ 0	$ (3)
Gain loss on divestitures business						9
Sale leaseback gain	$ 60			$ 60
The Flash Business of Western Digital Corporation [Member] \| Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Restructuring Cost and Reserve [Line Items]
Gain (Loss) on Disposition of Other Assets					$ 1	$ 3

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Income Tax Expense

6 Months Ended

12 Months Ended

Dec. 27, 2024

Jun. 28, 2024

The Flash Business of Western Digital Corporation [Member]

Income Tax Expense

Note 12. Income Tax Expense

The Tax Cuts and Jobs Act (the “2017 Act”), enacted on December 22, 2017, includes a broad range of tax reform proposals affecting businesses. WDC completed its accounting for the tax effects of the enactment of the 2017 Act during the second quarter of 2019. However, the U.S. Treasury and the Internal Revenue Service have issued tax guidance on certain provisions of the 2017 Act since the enactment date, and the Company anticipates the issuance of additional regulatory and interpretive guidance. WDC applied a reasonable interpretation of the 2017 Act along with the then-available guidance in finalizing its accounting for the tax effects of the 2017 Act. Any additional regulatory or interpretive guidance would constitute new information, which may require further refinements to the Company’s estimates in future periods.

On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022, which contained significant changes to laws related to tax, climate, energy, and health care. The tax measures include, among other things, a corporate alternative minimum tax (“CAMT”) of 15% on corporations with three-year average annual adjusted financial statement income (“AFSI”) exceeding $1.0 billion. The CAMT was effective for the Company beginning with fiscal year 2024. The Company does not expect to be subject to the CAMT of 15% for fiscal year 2025 as its average annual AFSI did not exceed $1.0 billion for the preceding three-year period.

On December 20, 2021, the Organization for Economic Co-operation and Development G20 (“OECD/G20”) Inclusive Framework on Base Erosion and Profit Shifting released Model Global Anti-Base Erosion rules under Pillar Two (“Pillar Two”). Several non-U.S. jurisdictions have either enacted legislation or announced their intention to enact future legislation to adopt certain or all components of the Pillar Two, some of which are effective for the Company in fiscal year 2025. For fiscal year 2025, the Company currently expects to be able to

meet certain transitional safe harbors and does not expect any material Pillar Two taxes. As more jurisdictions adopt this legislation in fiscal year 2026, there may be material increases in the Company’s future tax obligations in certain jurisdictions.

The following table presents the Company’s Income tax expense and the effective tax rate:


	Six Months Ended
	December 27, 2024			December 29, 2023
	($ in millions)
Income (loss) before taxes	$	440		$	(754	)
Income tax expense		125			65
Effective tax rate		28	%		(9	)%

Beginning in fiscal year 2023, the 2017 Act requires the Company to capitalize and amortize R&D expenses rather than expensing them in the year incurred. The tax effects related to the capitalization of R&D expenses are included in the effective tax rate for the six months ended December 27, 2024 and December 29, 2023.

The relative mix of earnings and losses by jurisdiction, the deduction for foreign-derived intangible income, credits and tax holidays in Malaysia that have or will expire at various dates during years 2025 through 2031 resulted in decreases to the effective tax rate below the U.S. statutory rate for the six months ended December 27, 2024. However, the tax effects of the mandatory capitalization of R&D expenses offset these decreases, resulting in the effective tax rate being closer to the U.S. Federal statutory rate for the six months ended December 27, 2024.

The primary drivers of the difference between the effective tax rate for the three and six months ended December 29, 2023 and the U.S. Federal statutory rate of 21% are the relative mix of earnings and losses by jurisdiction, the deduction for foreign-derived intangible income, credits and tax holidays in Malaysia.

Uncertain Tax Positions

With the exception of certain unrecognized tax benefits that are directly associated with the tax position taken, unrecognized tax benefits are presented gross in the Condensed Combined Balance Sheets.

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits, excluding accrued interest and penalties for the six months ended December 27, 2024:


	(in millions)
Accrual balance at June 28, 2024	$	47
Gross increases related to prior year tax positions		17
Gross increases related to current year tax positions		3
Gross decrease related to prior year tax positions		(7	)

Accrual balance at December 27, 2024	$	60

As of December 27, 2024 and June 28, 2024, the liability for unrecognized tax benefits (excluding accrued interest and penalties) was $60 million and $47 million, respectively. Interest and penalties related to unrecognized tax benefits are recognized in liabilities recorded for uncertain tax positions and are recorded in the provision for income taxes. Accrued interest and penalties included in the Company’s liability related to unrecognized tax benefits as of December 27, 2024 and June 28, 2024 was $6 million and $9 million, respectively.

The Company believes that adequate provision has been made for any adjustments that may result from any other tax examinations. However, the outcome of such tax examinations cannot be predicted with certainty. If any issues addressed in the Company’s tax examinations are resolved in a manner not consistent with management’s expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs. Any significant change in the amount of the Company’s liability for unrecognized tax benefits would most likely result from additional information relating to the examination of the Company’s tax

returns.

Income Tax Expense

Note 12. Income Tax Expense

Income (loss) Before Taxes

The domestic and foreign components of Income (loss) before taxes were as follows:


	2024			2023			2022
	(in millions)
Foreign	$	(543	)	$	(2,253	)	$	276
U.S.		40			251			958

Income (loss) before taxes	$	(503	)	$	(2,002	)	$	1,234

Income Tax Expense

The components of the income tax expense were as follows:


	2024			2023			2022
	(in millions)
Current:
Foreign	$	158		$	138		$	84
U.S. - Federal		20			76			141
U.S. - State		7			8			13

		185			222			238

Deferred:
Foreign		7			(15	)		24
U.S. - Federal		(19	)		(65	)		(82	)
U.S. - State		(4	)		(1	)		(10	)

		(16	)		(81	)		(68	)

Total income tax expense (benefit)	$	169		$	141		$	170

The Tax Cuts and Jobs Act (the “2017 Act”), enacted on December 22, 2017, includes a broad range of tax reform proposals affecting businesses. Our Parent completed its accounting for the tax effects of the enactment of the 2017 Act during the second quarter of 2019. However, the U.S. Treasury and the IRS have issued tax guidance on certain provisions of the 2017 Act since the enactment date, and the Business anticipates the issuance of additional regulatory and interpretive guidance. The Parent applied a reasonable interpretation of the 2017 Act along with the then-available guidance in finalizing its accounting for the tax effects of the 2017 Act. Any additional regulatory or interpretive guidance would constitute new information, which may require further refinements to the Business’s estimates in future periods.

On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022, which contained significant law changes related to tax, climate, energy and health care. The tax measures include, among other things, a corporate alternative minimum tax (“CAMT”) of 15% on corporations with three-year average annual adjusted financial statement income (“AFSI”) exceeding $1.00 billion. The Business is not subject to the CAMT of 15% for fiscal year 2024 as its average annual AFSI did not exceed $

1.00

billion for the preceding three-year period.

Deferred Taxes

Temporary differences and carryforwards, which give rise to a significant portion of deferred tax assets and liabilities were as follows:


	June 28, 2024			June 30, 2023
	(in millions)
Deferred tax assets:
Sales related reserves and accrued expenses not currently deductible	$	45		$	56
Accrued compensation and benefits not currently deductible		17			7
Other current accruals		17			19
Net operating loss carryforward		19			15
Share based compensation		17			17
Long-lived assets		15			28
Lease liability		45			28
Unrealized gain (loss)		67			44
Other		8			1

Total deferred tax assets		250			215
Deferred tax liabilities:
Intangible assets		(3	)		(13	)
Foreign withholding tax		(86	)		(93	)
Right-of-use asset		(43	)		(26	)
Deferred income		(8	)		(3	)
Other		(2	)		(6	)

Total deferred tax liabilities		(142	)		(141	)

Valuation allowances		(27	)		(26	)

Deferred tax assets, net	$	81		$	48

Deferred tax assets and deferred tax liabilities are shown on the Combined Balance Sheets netted on a jurisdictional basis.

The assessment of valuation allowances against deferred tax assets requires estimations and significant judgment. The Business continues to assess and adjust its valuation allowance based on operating results and market conditions. After weighing both the positive and negative evidence available, including, but not limited to, earnings history, projected future outcomes, industry and market trends, and the nature of each of the deferred tax assets, the Business determined that it is able to realize most of its deferred tax assets with the exception of certain loss and credit carryforwards.

The Business is permanently reinvested with respect to certain foreign earnings. There is no unrecognized deferred tax liability associated with the repatriation of these foreign undistributed earnings as it can be achieved without additional federal tax consequences.

Effective Tax Rate

Reconciliation of the U.S. federal statutory rate to the Business’s effective tax rate is as follows:


	2024			2023			2022
Tax at federal statutory tax rate		21.0	%		21.0	%		21.0	%
Tax rate differential on international incomes		(42.3	)		(28.7	)		0.4
Foreign withholding tax		(10.8	)		(1.7	)		2.9
Change in valuation allowance		(2.2	)		(0.4	)		1.4
Tax effect of U.S foreign income inclusion		(1.2	)		(0.4	)		5.8
Tax effect of U.S foreign derived intangible income		1.9			3.1			(7.6	)
Tax effect of permanent differences		(1.4	)		(0.5	)		(0.1	)
Tax effect of goodwill impairment		—			(7.0	)		—
Tax effect of intangible assets		0.9			4.3			(6.5	)
Tax rate change		0.6			0.1			—
Unremitted earnings of certain non-U.S. entities		2.2			0.4			—
Change in uncertain tax positions		(11.4	)		0.6			0.5
Return to provision adjustment		(1.3	)		(0.2	)		(0.5	)
Foreign income tax credits		5.1			1.4			(2.4	)
R&D tax credits		2.7			1.0			(2.1	)
Tax effect of share-based compensation		(1.1	)		(0.5	)		0.9
Federal audit settlements		3.3			—			—
Other		0.4			0.5			0.1

Effective income tax rate		(33.6	)%		(7.0	)%		13.8	%

Tax Holidays and Carryforwards

A substantial portion of the Business’s manufacturing operations in Malaysia operate under various tax holidays and tax incentive programs, which will expire in whole or in part at various dates during 2028 through 2031. Certain of the holidays may be extended if specific conditions are met.

As of June 28, 2024, the Business does not have federal and state NOL/tax credit carryforwards. As of June 28, 2024, the Business had varying amounts of foreign NOL carryforwards that do not expire or, if not used, expire in various years, depending on the country. The major jurisdictions within which the Business receives foreign NOL carryforwards and the related amounts and expiration dates of these NOL carryforwards are as follows:


Jurisdiction	NOL Carryforward Amount		Expiration
	(in millions)
Malaysia	$	44		2028
Netherlands		12		2026

Uncertain Tax Positions

With the exception of certain unrecognized tax benefits that are directly associated with the tax position taken, unrecognized tax benefits are presented gross in the Combined Balance Sheets.

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits excluding accrued interest and penalties:


	2024			2023			2022
	(in millions)
Unrecognized tax benefit, beginning balance	$	25		$	17		$	11
Gross increases related to current year tax positions		15			10			7
Gross increases related to prior year tax positions		10			1			—
Gross decreases related to prior year tax positions		(3	)		(3	)		(1	)
Settlements		—			—			—

Unrecognized tax benefit, ending balance	$	47		$	25		$	17

As of June 28, 2024, June 30, 2023, and July 1, 2022, the portion of the gross unrecognized tax benefits, if recognized, that would affect the effective tax rate is $47 million, $25 million and $17 million, respectively. Interest and penalties related to unrecognized tax benefits are recognized in liabilities recorded for uncertain tax positions and are recorded in the provision for income taxes. Accrued interest and penalties included in the Business’s liability related to unrecognized tax benefits as of June 28, 2024, June 30, 2023, and July 1, 2022 was $9 million, $5 million and $5 million, respectively. As of June 28, 2024, June 30, 2023, and July 1, 2022 the Business’s payables related to unrecognized tax benefits, including accrued interest and penalties, were $56 million, $30 million and $22 million, respectively. The remaining payables related to unrecognized tax benefits are included in other liabilities on the Combined Balance Sheets.

The Business’s Parent files U.S. Federal, U.S. state and foreign tax returns. For both federal and state tax returns, with few exceptions, our Parent is subject to examination from 2013 through 2022. Our Parent is no longer subject to examination by the IRS for periods prior to 2012, although carry forwards generated prior to those periods may still be adjusted upon examination by the IRS or state taxing authority if they either have been or will be used in a subsequent period. In the major foreign jurisdictions where there is no tax holiday, our Parent could be subject to examination as noted below:


Jurisdiction	Period Subject to Examination
China (calendar)		2014-2023
Ireland (fiscal)		2020-2023
India (fiscal)		2009-2023
Israel (fiscal)		2014-2023
Japan (fiscal)		2017-2023
Malaysia (fiscal)		2017-2023
Singapore (fiscal)		2020-2023
United Kingdom (fiscal)		2022-2023

The Business believes that adequate provision has been made for any adjustments that may result from any other tax examinations. However, the outcome of such tax examinations cannot be predicted with certainty. If any issues addressed in the Business’s tax examinations are resolved in a manner not consistent with management’s expectations, the Business could be required to adjust its provision for income taxes in the period such resolution occurs. As of June 28, 2024, and June 30, 2023, with the exception of the tentative settlement, it was not possible to estimate the amount of change, if any, in the unrecognized tax benefits that is reasonably possible within the next twelve months. Any significant change in the amount of the Business’s liability for unrecognized tax benefits would most likely result from additional information relating to the examination of the Business’s tax returns.

The entire disclosure for income tax.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Organization and Basis of Presentation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended		12 Months Ended
	Dec. 27, 2024	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022	Feb. 22, 2025	Feb. 21, 2025
Noncontrolling Interest [Line Items]
Goodwill impairment	$ (0)	$ (0)	$ 0	$ 0		$ 0
Subsequent Event
Noncontrolling Interest [Line Items]
Percent distribution of shares								80.10%
Western Digital Corporation \| Subsequent Event
Noncontrolling Interest [Line Items]
Percent distribution of shares								80.10%
Western Digital Corporation \| Sandisk Corporation \| Subsequent Event
Noncontrolling Interest [Line Items]
Ownership percentage							19.90%	19.90%
The Flash Business of Western Digital Corporation [Member]
Noncontrolling Interest [Line Items]
Advertising costs				31	$ 35	47
Notional amount				2,900	4,200
Goodwill impairment				$ 0	$ 671	$ 0
Likelihood of unfavorable settlement				If a position meets the more-likely-than-not level of certainty, it is recognized in the financial statements at the largest amount that has a greater than 50% likelihood of being realized upon ultimate settlement.
Maximum percentage of deductions for ESPP				10.00%
Lease payments				$ 0
The Flash Business of Western Digital Corporation [Member] \| Sandisk Corporation
Noncontrolling Interest [Line Items]
Ownership percentage				20.00%

Supplemental Financial Statement Data - Schedule of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended		12 Months Ended
	Dec. 27, 2024	Sep. 27, 2024	Dec. 29, 2023	Sep. 29, 2023	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 12,126	$ 11,082	$ 10,925	$ 11,439	$ 11,082	$ 11,439	$ 11,439
Income tax expense related to items of other comprehensive income (loss)					(15)	(5)
Net current-period other comprehensive income (loss)					24	28
Net transfer from Parent	(92)	583	152	19			275	$ 376	$ (922)
Ending balance	12,001	12,126	10,896	10,925	12,001	10,896	11,082	11,439
The Flash Business of Western Digital Corporation [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		11,082		11,439	11,082	11,439	11,439	12,977	12,981
Income tax expense related to items of other comprehensive income (loss)							21	(29)	35
Net current-period other comprehensive income (loss)							(109)	64	(317)
Net transfer from Parent							275	376	(922)
Ending balance							11,082	11,439	12,977
Total Accumulated Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(243)	452	(398)	(343)	452	(343)	(343)
Net transfer from Parent	(6)	0	0	0	(6)
Ending balance	(434)	(243)	$ (315)	(398)	(434)	(315)	452	(343)
Total Accumulated Comprehensive Loss \| The Flash Business of Western Digital Corporation [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		(452)		(343)	(452)	(343)	(343)	(407)	(90)
Net transfer from Parent							0	0	0
Ending balance							(452)	(343)	(407)
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		(208)			(208)
Other comprehensive income (loss)					(35)
Income tax expense related to items of other comprehensive income (loss)					0
Net current-period other comprehensive income (loss)					(35)
Net transfer from Parent					0
Ending balance	(243)				(243)		(208)
Foreign Currency Translation Adjustment \| The Flash Business of Western Digital Corporation [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		(208)		(165)	(208)	(165)	(165)	(130)
Other comprehensive income (loss)							(43)	(35)
Income tax expense related to items of other comprehensive income (loss)							0	0
Net current-period other comprehensive income (loss)							(43)	(35)
Ending balance							(208)	(165)	(130)
Unrealized Gain (Loss) on Derivative Contracts
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		(244)			(244)
Other comprehensive income (loss)					74
Income tax expense related to items of other comprehensive income (loss)					(15)
Net current-period other comprehensive income (loss)					59
Net transfer from Parent					(6)
Ending balance	$ (191)				(191)		(244)
Unrealized Gain (Loss) on Derivative Contracts \| The Flash Business of Western Digital Corporation [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		(244)		(178)	(244)	(178)	(178)	(277)
Other comprehensive income (loss)							(87)	128
Income tax expense related to items of other comprehensive income (loss)							21	(29)
Net current-period other comprehensive income (loss)							(66)	99
Ending balance							(244)	(178)	(277)
Accumulated Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		(452)			(452)
Other comprehensive income (loss)					39
Income tax expense related to items of other comprehensive income (loss)					(15)
Net current-period other comprehensive income (loss)					24
Ending balance							(452)
Accumulated Comprehensive Income (Loss) [Member] \| The Flash Business of Western Digital Corporation [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance		$ (452)		$ (343)	$ (452)	$ (343)	(343)	(407)
Other comprehensive income (loss)							(130)	93
Income tax expense related to items of other comprehensive income (loss)							21	(29)
Net current-period other comprehensive income (loss)							(109)	64
Ending balance							$ (452)	$ (343)	$ (407)

Related Parties and Related Commitments and Contingencies - Schedule of Remaining Guarantee Obligations (Details) - Flash Ventures - USD ($) $ in Millions	Dec. 27, 2024	Jun. 28, 2024
Guarantor Obligations [Line Items]
Remaining six months of 2025	$ 250	$ 359
2026	519	470
2027	295	259
2028	176	150
2029	75	61
2030	28
Total guarantee obligations	1,343	1,299
Payment of Principal Amortization
Guarantor Obligations [Line Items]
Remaining six months of 2025	201	285
2026	406	359
2027	198	164
2028	83	58
2029	25	11
2030	4
Total guarantee obligations	917	877
Purchase Option Exercise Price at Final Lease Terms
Guarantor Obligations [Line Items]
Remaining six months of 2025	49	74
2026	113	111
2027	97	95
2028	93	92
2029	50	50
2030	24
Total guarantee obligations	$ 426	$ 422

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Revenue, net	$ 3,759	$ 3,198
Cost of revenue	2,427	3,225
Gross profit (loss)	1,332	(27)
Operating expenses:
Research and development	562	486
Selling, general and administrative	272	231
Employee termination, asset impairment and other	5	(46)
Business separation costs	41	34
Goodwill impairment	(0)	0	$ 0		$ 0
Gain on business divestiture	(34)	0
Total operating expenses	846	705
Operating income (loss)	486	(732)
Interest and other income (expense):
Interest income	5	6
Interest expense	(6)	(22)
Other income (expense), net	(45)	(6)
Total interest and other income (expense), net	(46)	(22)
Income (loss) before taxes	440	(754)
Income tax expense	125	65
Net income (loss)	$ 315	$ (819)
The Flash Business of Western Digital Corporation [Member]
Revenue, net			6,663	$ 6,086	9,754
Cost of revenue			5,591	5,656	6,510
Gross profit (loss)			1,072	430	3,244
Operating expenses:
Research and development			1,061	1,167	1,362
Selling, general and administrative			455	558	666
Employee termination, asset impairment and other			(40)	69	16
Business separation costs			64	0	0
Goodwill impairment			0	671	0
Gain on business divestiture			0	0	(9)
Total operating expenses			1,540	2,465	2,044
Operating income (loss)			(468)	(2,035)	1,200
Interest and other income (expense):
Interest income			12	21	6
Interest expense			(40)	(31)	(15)
Other income (expense), net			(7)	43	43
Total interest and other income (expense), net			(35)	33	34
Income (loss) before taxes			(503)	(2,002)	1,234
Income tax expense			169	141	170
Net income (loss)			$ (672)	$ (2,143)	$ 1,064

Related Parties and Related Commitments and Contingencies - Related Party Debt (Details) - Related Party - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Dec. 27, 2024	Jun. 28, 2024	Sep. 27, 2024	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jul. 31, 2022	Mar. 31, 2022	Dec. 31, 2021	Oct. 27, 2021	Aug. 20, 2021	Jul. 31, 2021	Dec. 20, 2019	Oct. 03, 2019	Jul. 25, 2019	Mar. 29, 2019	Dec. 19, 2018	Nov. 25, 2014	Apr. 29, 2014
Related Party Transaction [Line Items]
Notes due from Parent	$ 0	$ (102)
Notes due to Parent	553	814
Total Notes due to Parent, net	553	712
The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Notes due from Parent		(102)		$ (63)
Notes due to Parent		814		919
Total Notes due to Parent, net		712		856
Notes receivable
Related Party Transaction [Line Items]
Notes due from Parent	0	(102)
Notes receivable \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Notes due from Parent		(102)		(63)
Notes receivable, related parties															$ 8	$ 10	$ 40
Notes due from Parent $40M - Dec. 19, 2018 \| Notes receivable \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Notes due from Parent		$ 0		(40)
Basis spread on variable rate		4.55%				0.33%			0.15%
Notes due from Parent $10M - Mar. 29, 2019 \| Notes receivable \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Notes due from Parent		$ 0		(10)
Basis spread on variable rate		4.50%			0.97%			1.50%
Notes due from Parent $8M - Jul. 25, 2019 \| Notes receivable \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Notes due from Parent		$ 0		(8)
Basis spread on variable rate		2.37%					0.12%					0.18%
2014 $500M Notes \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Notes due to Parent		$ 475		467
2014 $42B Yen Notes \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Notes due to Parent		262		291
2023 $60M Yen Notes \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Notes due to Parent		$ 0		31
Revolving Credit Facility \| Notes receivable
Related Party Transaction [Line Items]
Notes receivable, related parties														$ 101
Basis spread on variable rate														0.35%
Revolving Credit Facility \| Notes receivable \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Notes receivable, related parties										$ 100			$ 1,000	$ 101
Revolving Credit Facility \| TIBOR \| Notes receivable \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Basis spread on variable rate		0.35%
Revolving Credit Facility \| Revolving Credit Agreement due from Parent $101M - Oct. 3, 2019 \| Notes receivable \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Notes due from Parent		$ (102)		0
Revolving Credit Facility \| Revolving Credit Agreement due from Parent $1B - Dec. 20, 2019 \| Notes receivable \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Notes due from Parent		0		(4)
Revolving Credit Facility \| Revolving Credit Agreement due from Parent $100M October 27, 2021 \| Notes receivable \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Notes due from Parent		0		(1)
Revolving Credit Facility \| Revolver Credit Agreement, 2021 \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Notes due to Parent		$ 77		77
Revolving Credit Facility \| Revolver Credit Agreement, 2021 \| LIBOR \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Basis spread on variable rate		150.00%
Revolving Credit Facility \| Revolver Credit Agreement 2019 \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Notes due to Parent		$ 0		29
Revolving Credit Facility \| Revolver Credit Agreement 2019 One \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Notes due to Parent		$ 0		$ 24
Line of Credit \| Revolver Credit Agreement, 2021 \| LIBOR \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Variable interest rate		150.00%
Line of Credit \| Revolver Credit Agreement 2019 \| TIBOR \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Variable interest rate		0.35%
Line of Credit \| Revolver Credit Agreement 2019 One \| TIBOR \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Variable interest rate		0.35%
Line of Credit \| Revolving Credit Facility \| Revolver Credit Agreement, 2024
Related Party Transaction [Line Items]
Notes due to Parent	$ 553	$ 0
Maximum borrowing capacity			$ 1
Line of Credit \| Revolving Credit Facility \| Revolver Credit Agreement, 2024 \| SOFR
Related Party Transaction [Line Items]
Variable interest rate	1.60%
Line of Credit \| Revolving Credit Facility \| Revolver Credit Agreement, 2021
Related Party Transaction [Line Items]
Notes due to Parent	$ 0	77
Maximum borrowing capacity											$ 100
Line of Credit \| Revolving Credit Facility \| Revolver Credit Agreement, 2021 \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Maximum borrowing capacity		100
Line of Credit \| Revolving Credit Facility \| Revolver Credit Agreement, 2021 \| LIBOR
Related Party Transaction [Line Items]
Variable interest rate	150.00%
Line of Credit \| Revolving Credit Facility \| Revolver Credit Agreement 2019 \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Maximum borrowing capacity		1,000
Line of Credit \| Revolving Credit Facility \| Revolver Credit Agreement 2019 One \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Maximum borrowing capacity		1,000
Notes Payable, Other Payables \| 2014 $500M Notes
Related Party Transaction [Line Items]
Notes due to Parent	$ 0	475
Debt instrument, face amount																		$ 500
Variable interest rate	2.00%
Notes Payable, Other Payables \| 2014 $500M Notes \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Debt instrument, face amount		$ 500
Variable interest rate		2.00%
Notes Payable, Other Payables \| 2014 $42B Yen Notes
Related Party Transaction [Line Items]
Notes due to Parent	$ 0	$ 262
Debt instrument, face amount																			$ 42
Notes Payable, Other Payables \| 2014 $42B Yen Notes \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Debt instrument, face amount		$ 42,000
Notes Payable, Other Payables \| 2014 $42B Yen Notes \| TIBOR
Related Party Transaction [Line Items]
Variable interest rate	0.35%
Notes Payable, Other Payables \| 2014 $42B Yen Notes \| TIBOR \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Variable interest rate		0.35%
Notes Payable, Other Payables \| 2023 $60M Yen Notes \| The Flash Business of Western Digital Corporation [Member]
Related Party Transaction [Line Items]
Debt instrument, face amount		$ 60
Variable interest rate		6.698%

Income Tax Expense - Schedule of Deferred Tax Assets and Liabilities (Details) - The Flash Business of Western Digital Corporation [Member] - USD ($) $ in Millions	Jun. 28, 2024	Jun. 30, 2023
Deferred tax assets:
Sales related reserves and accrued expenses not currently deductible	$ 45	$ 56
Accrued compensation and benefits not currently deductible	17	7
Other current accruals	17	19
Net operating loss carryforward	19	15
Share based compensation	17	17
Long-lived assets	15	28
Lease liability	45	28
Unrealized gain (loss)	67	44
Other	8	1
Total deferred tax assets	250	215
Components of Deferred Tax Liabilities [Abstract]
Intangible assets	(3)	(13)
Foreign withholding tax	(86)	(93)
Right-of-use asset	(43)	(26)
Deferred income	(8)	(3)
Other	(2)	(6)
Total deferred tax liabilities	(142)	(141)
Valuation allowances	(27)	(26)
Deferred tax assets, net	$ 81	$ 48

Stock-based Compensation Expense (Tables)

6 Months Ended

12 Months Ended

Dec. 27, 2024

Jun. 28, 2024

Share-Based Payment Arrangement, Expensed and Capitalized, Amount

The table below summarizes the total costs charged to the Company related to the Company’s employees’ participation in WDC’s equity incentive plan during the periods presented:


	Six Months Ended
	December 27, 2024		December 29, 2023
	(in millions)
Cost of revenue	$	9	$	10
Research and development		40		35
Selling general, and administrative		40		32

Total	$	89	$	77

The Flash Business of Western Digital Corporation [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Share-Based Payment Arrangement, Expensed and Capitalized, Amount


	2024		2023		2022
	(in millions)
Cost of revenue	$	20	$	19	$	18
Research and development		71		88		94
Selling, general and administrative		58		58		59

Total	$	149	$	165	$	171

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Revenues	6 Months Ended	12 Months Ended
Revenues	Dec. 27, 2024	Jun. 28, 2024
Disaggregation of Revenue [Line Items]
Revenues	Note 4. Revenues Contract assets represent the Company’s rights to consideration where performance obligations are completed, but the customer payments are not due until another performance obligation is satisfied. The Company did not have any contract assets as of December 27, 2024, or June 28, 2024. Contract liabilities relate to customers’ payments in advance of performance under the contract and primarily relate to remaining performance obligations under professional service and support and maintenance contracts. Contract liabilities as of December 27, 2024 and June 28, 2024, and changes in contract liabilities for the six months ended December 27, 2024 and December 29, 2023, were not material. The Company incurs sales commissions as direct incremental costs to obtain sales contracts. The Company has applied the practical expedient to recognize sales commissions as an expense when incurred if the amortization period is expected to be one year or less or the amount is not material, with these costs charged to Selling, general and administrative expenses. The Company had no other direct incremental costs to obtain contracts that have an expected benefit of greater than one year. The Company applies the practical expedients and does not disclose the transaction price allocated to the remaining performance obligations for (i) arrangements with an original expected duration of one year or less, mainly consisting of professional service, support, and maintenance contracts, and (ii) variable consideration for sale-based or usage-based royalties for intellectual property license arrangements, which typically range longer than one year. The remaining performance obligations are mainly attributed to right-to-access patent license arrangements, professional service arrangements and customer support and service contracts, which will be recognized over their contract period. The transaction price allocated to the remaining performance obligations as of December 27, 2024, was not material.
The Flash Business of Western Digital Corporation [Member]
Disaggregation of Revenue [Line Items]
Revenues		Note 4. Revenues Contract assets represent the Business’s rights to consideration where performance obligations are completed but the customer payments are not due until another performance obligation is satisfied. The Business did not have any contract assets as of June 28, 2024, or June 30, 2023. Contract liabilities relate to customers’ payments in advance of performance under the contract and primarily relate to remaining performance obligations under professional service and support and maintenance contracts. Contract liabilities as of June 28, 2024, and June 30, 2023, and changes in contract liabilities during 2024 and 2023 were not material. The Business incurs sales commissions and other direct incremental costs to obtain sales contracts. The Business has applied the practical expedient to recognize the direct incremental costs of obtaining contracts as an expense when incurred if the amortization period is expected to be one year or less or the amount is not material, with these costs charged to selling, general and administrative expenses. The Business had no direct incremental costs to obtain contracts that have an expected benefit of greater than one year. The Business applies the practical expedients and does not disclose transaction price allocated to the remaining performance obligations for (i) arrangements that have an original expected duration of one year or less, which mainly consist of the support and maintenance contracts, and (ii) variable consideration amounts for sale-based or usage-based royalties for intellectual property license arrangements, which typically range longer than one year. Remaining performance obligations are mainly attributed to right-to-access patent license arrangements, professional service arrangements and customer support and service contracts which will be recognized over the remaining contract period. The transaction price allocated to the remaining performance obligations as of June 28, 2024, was not material.

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

Fair Value Measurements and Investments (Tables)

6 Months Ended

12 Months Ended

Dec. 27, 2024

Jun. 28, 2024


	December 27, 2024
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Cash equivalents - Money market funds	$	232	$	—	$	—	$	232
Foreign exchange contracts (included in other current assets)		—		17		—		17

Total assets at fair value	$	232	$	17	$	—	$	249

Liabilities:
Foreign exchange contracts (included in accrued expenses)	$	—	$	145	$	—	$	145

Total liabilities at fair value	$	—	$	145	$	—	$	145


	June 28, 2024
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Cash equivalents - Money market funds	$	28	$	—	$	—	$	28
Foreign exchange contracts (included in other current assets)		—		7		—		7

Total assets at fair value	$	28	$	7	$	—	$	35

Liabilities:
Foreign exchange contracts (included in accrued expenses)	$	—	$	179	$	—	$	179

Total liabilities at fair value	$	—	$	179	$	—	$	179

The Flash Business of Western Digital Corporation [Member]

Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis


	June 28, 2024
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Cash equivalents - Money market funds	$	28	$	—	$	—	$	28
Foreign exchange contracts	$	—	$	7	$	—	$	7

Total assets at fair value	$	28	$	7	$	—	$	35

Liabilities:
Foreign exchange contracts	$	—	$	179	$	—	$	179

Total liabilities at fair value	$	—	$	179	$	—	$	179


	June 30, 2023
	Level 1		Level 2		Level 3		Total
	(in millions)
Assets:
Foreign exchange contracts	$	—	$	31	$	—	$	31

Total assets at fair value	$	—	$	31	$	—	$	31

Liabilities:
Foreign exchange contracts	$	—	$	171	$	—	$	171

Total liabilities at fair value	$	—	$	171	$	—	$	171

Summarized Financial Information - Schedule of equity method investment summarized financial statement (Detail) - USD ($) $ in Millions			6 Months Ended		12 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Dec. 27, 2024	Dec. 29, 2023	Jun. 28, 2024	Jun. 30, 2023	Jul. 01, 2022
Schedule of Equity Method Investments [Line Items]
Gross profit (loss)			$ 1,332	$ (27)
The Flash Business of Western Digital Corporation [Member]
Schedule of Equity Method Investments [Line Items]
Gross profit (loss)					$ 1,072	$ 430	$ 3,244
Flash ventures \| The Flash Business of Western Digital Corporation [Member]
Schedule of Equity Method Investments [Line Items]
Net sales	$ 2,252	$ 2,788					3,368
Gross profit (loss)					(51)	138	240
Net income (loss)					$ (9)	$ 89	$ 102

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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