Debt (Tables)

12 Months Ended

Jun. 30, 2018

Schedule of Debt

Debt consisted of the following:

(In millions)	As of June 30, 2018			As of July 1, 2017
ABL Facility	$	780.1		$	899.9
5.500% Notes due 2024		350.0			350.0
Promissory Note		—			6.0
Less: Original issue discount and deferred financing costs		(7.1	)		(8.2	)
Long-term debt		1,123.0			1,247.7
Capital and finance lease obligations		61.2			49.9
Total debt		1,184.2			1,297.6
Less: current installments		(8.4	)		(11.7	)
Total debt, excluding current installments	$	1,175.8		$	1,285.9

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

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

(In millions)
2019	$	—
2020		—
2021		780.1
2022		—
2023		—
Thereafter		350.0
Total long-term debt, excluding capital and finance lease    obligations	$	1,130.1

Schedule of Future Minimum Lease Payments under Non-cancelable Capital Lease Obligations

Future minimum lease payments under non-cancelable capital lease obligations were as follows as of June 30, 2018:

(In millions)	Capital Leases
2019	$	12.1
2020		10.0
2021		9.6
2022		9.4
2023		8.3
Thereafter		33.5
Total future minimum lease payments		82.9
Less: interest		21.7
Present value of future minimum lease payments	$	61.2

ABL Facility [Member]

Summary of Outstanding Borrowings, Availability, and Average Interest Rate

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

(Dollars in millions)	As of June 30, 2018			As of July 1, 2017
Aggregate borrowings	$	780.1		$	899.9
Letters of credit		121.3			105.5
Excess availability, net of lenders’ reserves    of $12.1 and $11.2, respectively		854.2			594.6
Average interest rate		3.52	%		2.59	%