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Stock-Based Compensation (Tables)
 6 Months Ended
Jan. 02, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock Option Activity
The following table summarizes stock option activity under the Company’s stock option plans (in millions, except per share amounts and remaining contractual lives): 
 
Number
of
Shares
 
Weighted
Average
Exercise
Price
Per
Share
 
Weighted
Average
Remaining
Contractual
Life
(in years)
 
Aggregate
Intrinsic
Value
Options outstanding at June 27, 2014
10.1

 
$
37.03

 
 
 
 
Granted
1.2

 
100.06

 
 
 
 
Exercised
(1.3
)
 
31.04

 
 
 
 
Options outstanding at October 3, 2014
10.0

 
45.16

 
 
 
 
Exercised
(1.1
)
 
32.14

 
 
 
 
Canceled or expired
(0.1
)
 
32.53

 
 
 
 
Options outstanding at January 2, 2015
8.8

 
$
47.01

 
4.4
 
$
564

Exercisable at January 2, 2015
4.0

 
$
32.98

 
3.1
 
$
314

Vested and expected to vest after January 2, 2015
8.6

 
$
46.41

 
4.4
 
$
558
Restricted Stock Unit Activity
The following table summarizes RSU activity under the Company's stock plans (in millions, except weighted average grant date fair value):
 
Number
of Shares
 
Weighted Average
Grant-Date
Fair Value
RSUs outstanding at June 27, 2014
3.7

 
$
49.77

Granted
1.1

 
100.07

Vested
(1.5
)
 
40.57

RSUs outstanding at October 3, 2014
3.3

 
70.88

Granted*
—

 
101.27

Vested
(0.1
)
 
48.25

RSUs outstanding at January 2, 2015
3.2

 
72.15

Expected to vest after January 2, 2015
3.0

 
$
71.69

*
Shares granted were immaterial for rounding purposes.
Fair Value of Stock Options Granted
The fair value of stock options granted was estimated using the following weighted average assumptions: 
 
Three Months Ended
 
Six Months Ended
 
January 2,
2015
 
December 27,
2013
 
January 2,
2015
 
December 27,
2013
Suboptimal exercise factor
2.59
 
2.20
 
2.51
 
2.06
Range of risk-free interest rates
0.25% to 1.92%
 
0.12% to 2.44%
 
0.11% to 2.16%
 
0.10% to 2.44%
Range of expected stock price volatility
0.23 to 0.46
 
0.29 to 0.49
 
0.23 to 0.47
 
0.29 to 0.50
Weighted average expected volatility
0.35
 
0.41
 
0.36
 
0.43
Post-vesting termination rate
1.69%
 
3.18%
 
1.25%
 
3.09%
Dividend yield
1.45%
 
1.45%
 
1.68%
 
1.58%
Fair value
$31.96
 
$25.29
 
$32.29
 
$24.03