EQUITY-BASED COMPENSATION PLANS (Tables)

9 Months Ended

Mar. 25, 2018

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 (including expense related to the employee stock purchase plan) and related income tax benefit in the Condensed Consolidated Statements of Operations:

	Three Months Ended				Nine Months Ended
	March 25, 2018		March 26, 2017		March 25, 2018		March 26, 2017
	(in thousands)
Equity-based compensation expense	$	41,095	$	35,323	$	125,002	$	106,173
Income tax benefit recognized related to equity-based compensation expense	$	46,366	$	9,954	$	77,842	$	29,674

Summary of Stock Plan Activity

The following table summarizes stock option activity:

	Options Outstanding
	Number of Shares		Weighted- Average Exercise Price
June 25, 2017	594,059		$	66.69
Granted	63,980		$	190.07
Exercised	(125,918	)	$	52.69
Expired or forfeited	—		$	—
March 25, 2018	532,121		$	84.83

The following table summarizes restricted stock activity:

	Service-based RSUs Outstanding				Market-based RSUs Outstanding
	Number of Shares		Weighted- Average Grant Date Fair Value		Number of Shares		Weighted- Average Grant Date Fair Value
June 25, 2017	2,687,606		$	92.01	862,455		$	83.83
Granted	930,160		$	183.93	285,866		$	170.15
Vested	(1,302,294	)	$	86.87	(407,024	)	$	76.88
Expired or Forfeited	(51,227	)	$	100.62	(6,802	)	$	82.48
March 25, 2018	2,264,245		$	132.53	734,495		$	103.94

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 25, 2018 and three and nine months ended  March 26, 2017; there were no ESPP purchase rights issued in the three months ended March 25, 2018:

	Three Months Ended		Nine Months Ended
	March 26, 2017		March 25, 2018		March 26, 2017
Expected stock price volatility	27.24	%	29.13	%	31.80	%
Risk-free interest rate	0.52	%	0.82	%	0.41	%
Expected term (years)	0.78		0.77		0.73
Dividend yield	1.00	%	0.89	%	1.10	%