EQUITY-BASED COMPENSATION PLANS (Tables)

9 Months Ended

Mar. 26, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Recognized Equity Based Compensation Expense and Related Income Tax Benefit

The Company recognized the following equity-based compensation expense and related income tax benefit in the Condensed Consolidated Statements of Operations:

	Three Months Ended				Nine Months Ended
	March 26, 2017		March 27, 2016		March 26, 2017		March 27, 2016
	(in thousands)
Equity-based compensation expense	$	35,323	$	34,716	$	106,173	$	103,060
Income tax benefit recognized related to equity-based compensation expense	$	9,954	$	9,840	$	29,674	$	28,589

Summary of Stock Plan Activity

A summary of stock plan transactions is as follows:

	Options Outstanding				RSUs Outstanding
	Number of Shares		Weighted- Average Exercise Price		Number of Shares		Weighted- Average Fair Market Value at Grant
June 26, 2016	907,411		$	47.41	4,335,104		$	69.30
Granted	90,128		$	119.67	1,591,129		$	112.67
Exercised	(375,274	)	$	34.22	N/A		N/A
Canceled	(13,950	)	$	70.02	(128,570	)	$	69.24
Vested restricted stock	N/A		N/A		(2,075,045	)	$	62.42
March 26, 2017	608,315		$	65.73	3,722,618		$	88.16

Schedule of ESPP Weighted-Average Assumptions

Purchase rights under the 1999 ESPP were valued using the Black-Scholes option valuation model and the following weighted-average assumptions for the nine months ended March 26, 2017 and March 27, 2016:

	Three Months Ended				Nine Months Ended
	March 26, 2017		March 27, 2016		March 26, 2017		March 27, 2016
Expected term (years)	0.78		0.68		0.73		0.68
Expected stock price volatility	27.24	%	35.61	%	31.80	%	31.85	%
Risk-free interest rate	0.52	%	0.29	%	0.41	%	0.19	%
Dividend Yield	1.00	%	1.18	%	1.10	%	0.95	%