XML 21 R10.htm IDEA: XBRL DOCUMENT v3.8.0.1
OTHER EXPENSE, NET
 6 Months Ended
Dec. 24, 2017
Other Income and Expenses [Abstract]  
OTHER EXPENSE, NET
OTHER EXPENSE, NET
The significant components of other expense, net, are as follows:
 
Three Months Ended
 
Six Months Ended
 
December 24,
2017
 
December 25,
2016
 
December 24,
2017
 
December 25,
2016
 
(in thousands)
Interest income
$
20,578

 
$
10,945

 
$
40,787

 
$
23,708

Interest expense
(23,317
)
 
(26,641
)
 
(47,222
)
 
(68,070
)
Gains on deferred compensation plan related assets, net
6,074

 
1,666

 
9,527

 
7,838

Loss on extinguishment of debt
—

 
(36,325
)
 
—

 
(36,325
)
Foreign exchange (losses) gains, net
1,196

 
1,011

 
(1,804
)
 
2,230

Other, net
(7,683
)
 
(5,679
)
 
(9,942
)
 
(7,558
)
 
$
(3,152
)
 
$
(55,023
)
 
$
(8,654
)
 
$
(78,177
)

Interest income in the three and six months ended December 24, 2017, increased compared to same period in 2016 due to higher yield. Interest expense decreased in the six months ended December 24, 2017 compared to the same period in 2016 due to the termination of the Term Loan Agreement and mandatory redemption of the Senior Notes due 2023 and 2026 during the December 2016 quarter. Loss on extinguishment of debt realized in the three months ended December 25, 2016 is primarily a result of the mandatory redemption of the Senior Notes Due 2023 and 2026 as well as the termination of the Term Loan Agreement.