Debt (Tables)

12 Months Ended

Jul. 02, 2022

Schedule of Debt

Debt consisted of the following:

(In millions)	As of July 2, 2022			As of July 3, 2021
Credit Agreement	$	1,608.4		$	586.3
5.500% Notes due 2024		-			350.0
6.875% Notes due 2025		275.0			275.0
5.500% Notes due 2027		1,060.0			1,060.0
4.250% Notes due 2029		1,000.0			-
Less: Original issue discount and deferred financing costs		(34.6	)		(30.8	)
Long-term debt		3,908.8			2,240.5
Less: current installments		-			-
Total debt, excluding current installments	$	3,908.8		$	2,240.5

Schedule of Fiscal Year Maturities of Long-Term Debt, Excluding Finance Lease Obligations

Fiscal year maturities of long-term debt, excluding finance lease obligations, are as follows:

(In millions)
2023	$	-
2024		-
2025		275.0
2026		-
2027		1,608.4
Thereafter		2,060.0
Total long-term debt, excluding finance lease obligations	$	3,943.4

ABL Facility [Member]

Summary of Outstanding Borrowings, Availability, and Average Interest Rate under ABL Facility

The following table summarizes outstanding borrowings, availability, and the average interest rate under the ABL Facility:

(Dollars in millions)	As of July 2, 2022			As of July 3, 2021
Aggregate borrowings	$	1,608.4		$	586.3
Letters of credit		190.5			161.7
Excess availability, net of lenders’ reserves of $104.4 and $55.1		2,201.1			2,252.0
Average interest rate		2.89	%		2.32	%