Financial Summary (All financials)
| In millions, except per share items | Jul-01-22 | Jul-02-21 | Jul-03-20 | Jun-28-19 | Jun-29-18 | Jun-30-17 | Jul-01-16 | Jul-03-15 |
| Revenues | 18,793.0 | 16,922.0 | 16,736.0 | 16,569.0 | 20,647.0 | 19,093.0 | 12,994.0 | 14,572.0 |
| Revenue growth | 11.1% | 1.1% | 1.0% | -19.8% | 8.1% | 46.9% | -10.8% | -3.7% |
| Cost of goods sold | 12,919.0 | 12,401.0 | 12,955.0 | 12,817.0 | 12,942.0 | 13,021.0 | 9,559.0 | 10,351.0 |
| Gross profit | 5,874.0 | 4,521.0 | 3,781.0 | 3,752.0 | 7,705.0 | 6,072.0 | 3,435.0 | 4,221.0 |
| Gross margin | 31.3% | 26.7% | 22.6% | 22.6% | 37.3% | 31.8% | 26.4% | 29.0% |
| Selling, general and administrative | 1,117.0 | 1,105.0 | 1,153.0 | 1,317.0 | 1,473.0 | 1,445.0 | 997.0 | 788.0 |
| Research and development | 2,323.0 | 2,243.0 | 2,261.0 | 2,182.0 | 2,400.0 | 2,441.0 | 1,627.0 | 1,646.0 |
| EBITA | 2,434.0 | 1,706.0 | 1,104.0 | 1,055.0 | 4,802.0 | 3,123.0 | 732.0 | 1,782.0 |
| EBITA margin | 13.0% | 10.1% | 6.6% | 6.4% | 23.3% | 16.4% | 5.6% | 12.2% |
| Amortization of intangibles | | 486.0 | 769.0 | 968.0 | 1,185.0 | 1,169.0 | 266.0 | 171.0 |
| EBIT | 2,434.0 | 1,220.0 | 335.0 | 87.0 | 3,617.0 | 1,954.0 | 466.0 | 1,611.0 |
| EBIT margin | 13.0% | 7.2% | 2.0% | 0.5% | 17.5% | 10.2% | 3.6% | 11.1% |
| Pre-tax income | 2,123.0 | 927.0 | -46.0 | -287.0 | 2,085.0 | 769.0 | 153.0 | 1,577.0 |
| Income taxes | 623.0 | 106.0 | 204.0 | 467.0 | 1,410.0 | 372.0 | -89.0 | 112.0 |
| Tax rate | 29.3% | 11.4% | | | 67.6% | 48.4% | | 7.1% |
| Net income | 1,500.0 | 821.0 | -250.0 | -754.0 | 675.0 | 397.0 | 242.0 | 1,465.0 |
| Net margin | 8.0% | 4.9% | -1.5% | -4.6% | 3.3% | 2.1% | 1.9% | 10.1% |
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| Diluted EPS | $4.75 | $2.66 | ($0.84) | ($2.58) | $2.20 | $1.34 | $1.00 | $6.18 |
| Shares outstanding (diluted) | 316.0 | 309.0 | 298.0 | 292.0 | 307.0 | 296.0 | 242.0 | 237.0 |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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