Insurance Program Liabilities

12 Months Ended

Jun. 29, 2024

Insurance [Abstract]

Insurance Program Liabilities

10. Insurance Program Liabilities

The Company maintains high-deductible insurance programs covering portions of general and vehicle liability, workers’ compensation, and group medical insurance. The amounts in excess of the deductibles are fully insured by third-party insurance carriers, subject to certain limitations. A summary of the activity in all types of deductible liabilities appears below:

(In millions)
Balance at July 3, 2021	$	178.1
Additional liabilities assumed in connection with an acquisition	$	40.8
Charged to costs and expenses	$	346.5
Payments		(338.4	)
Balance at July 2, 2022	$	227.0
Charged to costs and expenses		398.7
Payments		(382.6	)
Balance at July 1, 2023	$	243.1
Charged to costs and expenses		425.0
Payments		(395.9	)
Balance at June 29, 2024	$	272.2