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Equity-Based Compensation Plans (Tables)
 12 Months Ended
Jun. 25, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Recognized Equity Based Compensation Expenses and Benefits
The Company recognized the following equity-based compensation expense and benefits in the Consolidated Statements of Operations: 
 
Year Ended
June 25,
2017
 
June 26,
2016
 
June 28,
2015
 
(in thousands)
Equity-based compensation expense
$
149,975

 
$
142,348

 
$
135,354

Income tax benefit recognized related to equity-based compensation
$
38,381

 
$
37,814

 
$
23,660

Income tax benefit realized from the exercise and vesting of options and RSUs
$
92,749

 
$
67,756

 
$
40,401
Summary of Stock Plan Transactions
A summary of stock plan transactions is as follows: 
 
Options Outstanding
 
Restricted Stock Units Outstanding
Number of
Shares
 
Weighted-Average
Exercise
Price
 
Number of
Shares
 
Weighted-Average
Fair Market Value
at Grant
June 29, 2014
1,331,886

 
$
32.20

 
5,635,469

 
$
45.83

Granted
76,659

 
$
80.60

 
1,804,937

 
$
79.74

Exercised
(564,558
)
 
$
31.05

 
N/A

 
N/A

Canceled
(8,155
)
 
$
29.32

 
(174,879
)
 
$
50.16

Vested restricted stock
N/A

 
N/A

 
(2,311,439
)
 
$
41.17

June 28, 2015
835,832

 
$
37.44

 
4,954,088

 
$
60.13

Granted
196,167

 
$
75.57

 
2,230,851

 
$
71.87

Exercised
(123,726
)
 
$
24.92

 
N/A

 
N/A

Canceled
(862
)
 
$
21.43

 
(110,131
)
 
$
69.17

Vested restricted stock
N/A

 
N/A

 
(2,739,704
)
 
$
54.04

June 26, 2016
907,411

 
$
47.41

 
4,335,104

 
$
69.30

Granted
90,128

 
$
119.67

 
1,660,571

 
$
113.75

Exercised
(389,460
)
 
$
33.92

 
N/A

 
N/A

Canceled
(14,020
)
 
$
69.81

 
(175,975
)
 
$
73.31

Vested restricted stock
N/A

 
N/A

 
(2,269,639
)
 
$
63.24

June 25, 2017
594,059

 
$
66.69

 
3,550,061

 
$
90.03
Outstanding and Exercisable Options by Price Range
Outstanding and exercisable options presented by price range at June 25, 2017, were as follows:
Range of Exercise Prices
Options Outstanding
 
Options Exercisable
Number of
Options
Outstanding
 
Weighted-Average
Remaining Life
(Years)
 
Weighted-Average
Exercise Price
 
Number of
Options
Exercisable
 
Weighted-Average
Exercise Price
$11.09-$23.59
57,020

 
3.62
 
$
18.04

 
57,020

 
$
18.04

$28.73-$35.68
52,606

 
3.63
 
$
31.18

 
52,606

 
$
31.18

$42.61-$51.76
150,539

 
3.37
 
$
49.21

 
150,539

 
$
49.21

$75.57-$119.67
333,894

 
5.75
 
$
88.46

 
94,399

 
$
77.77

$11.09-$119.67
594,059

 
4.63
 
$
66.69

 
354,564

 
$
49.13
Schedule of Stock Options Weighted Average Assumptions
The fair value of the Company’s service-based RSUs was calculated based on fair market value of the Company’s stock at the date of grant, discounted for dividends, using the following assumptions:
 
Year Ended
June 25,
2017
 
June 26,
2016
 
June 28,
2015
Risk-free interest rate
1.51
%
 
0.98
%
 
0.97
%
Expected term (years)
2.97

 
3.00

 
2.83

Dividend yield
1.48
%
 
1.59
%
 
0.89
%
The fair value of the Company’s stock options granted during fiscal years 2017, 2016, and 2015 was estimated using a Black-Scholes option valuation model. This model requires the input of highly subjective assumptions, including expected stock price volatility and the estimated life of each award: 
 
Year Ended
June 25,
2017
 
June 26,
2016
 
June 28,
2015
Expected volatility
28.85
%
 
33.08
%
 
34.45
%
Risk-free interest rate
1.92
%
 
1.27
%
 
1.46
%
Expected term (years)
4.75

 
4.79

 
4.80

Dividend yield
1.50
%
 
1.59
%
 
0.89
%
Intrinsic Value of Stock Options
The year-end intrinsic value relating to stock options for fiscal years 2017, 2016, and 2015 is presented below: 
 
Year Ended
June 25,
2017
 
June 26,
2016
 
June 28,
2015
 
(in thousands)
Intrinsic value - options outstanding
$
50,551

 
$
31,643

 
$
37,961

Intrinsic value - options exercisable
$
36,396

 
$
29,112

 
$
33,360

Intrinsic value - options exercised
$
29,674

 
$
6,562

 
$
26,806
Schedule of Market-Based Performance Restricted Stock Units Weighted Average Assumptions
The fair value of the Company’s market-based PRSUs granted during fiscal years 2017, 2016, and 2015 was calculated using a Monte Carlo simulation model at the date of the grant. This model requires the input of highly subjective assumptions, including expected stock price volatility and the estimated life of each award: 
 
Year Ended
June 25,
2017
 
June 26,
2016
 
June 28,
2015
Expected volatility
27.48
%
 
29.81
%
 
27.93
%
Risk-free interest rate
1.55
%
 
0.97
%
 
1.05
%
Expected term (years)
2.92

 
2.92

 
2.98

Dividend yield
1.50
%
 
1.59
%
 
0.89
%
Schedule of ESPP Weighted-Average Assumptions
During fiscal years 2017, 2016, and 2015, the 1999 ESPP was valued using the following weighted-average assumptions: 
 
Year Ended
June 25,
2017
 
June 26,
2016
 
June 28,
2015
Expected term (years)
0.73

 
0.67

 
0.67

Expected stock price volatility
31.74
%
 
35.48
%
 
27.60
%
Risk-free interest rate
0.41
%
 
0.29
%
 
0.07
%
Dividend yield
1.09
%
 
1.18
%
 
0.69
%