Debt (Tables)

12 Months Ended

Jun. 29, 2024

Schedule of Debt

Debt consisted of the following:

(In millions)	As of June 29, 2024			As of July 1, 2023
Credit Agreement	$	1,160.8		$	1,154.0
6.875% Notes due 2025, effective interest rate 7.211%		-			275.0
5.500% Notes due 2027, effective interest rate 5.930%		1,060.0			1,060.0
4.250% Notes due 2029, effective interest rate 4.439%		1,000.0			1,000.0
Less: Original issue discount and deferred financing costs		(22.3	)		(28.9	)
Long-term debt		3,198.5			3,460.1
Less: current installments		-			-
Total debt, excluding current installments	$	3,198.5		$	3,460.1

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)
2025		—
2026		—
2027		1,160.8
2028		1,060.0
2029		—
Thereafter		1,000.0
Total long-term debt, excluding finance lease obligations	$	3,220.8

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 Company's ABL Facility:

(Dollars in millions)	As of June 29, 2024			As of July 1, 2023
Aggregate borrowings	$	1,160.8		$	1,154.0
Letters of credit		160.4			172.2
Excess availability, net of lenders’ reserves of $96.3 and $99.7		2,678.8			2,673.8
Average interest rate, excluding impact of interest rate swaps		6.79	%		6.35	%