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Equity-based Compensation Plans (Tables)
 12 Months Ended
Jun. 24, 2018
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 24,
2018
 
June 25,
2017
 
June 26,
2016
 
(in thousands)
Equity-based compensation expense
$
172,216

 
$
149,975

 
$
142,348

Income tax benefit recognized related to equity-based compensation
$
87,505

 
$
38,381

 
$
37,814

Income tax benefit realized from the exercise and vesting of options and RSUs
$
90,297

 
$
92,749

 
$
67,756
Summary of Stock Plan Transactions
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 28, 2015
4,040,947

 
$
60.98

 
913,141

 
$
56.37

Granted
1,771,599

 
72.14

 
459,252

 
70.58

Vested
(2,445,902
)
 
54.91

 
(293,802
)
 
46.77

Forfeited or canceled
(110,131
)
 
69.17

 
—

 
—

June 26, 2016
3,256,513

 
$
71.34

 
1,078,591

 
$
63.12

Granted
1,224,877

 
114.13

 
435,694

 
111.75

Vested
(1,677,318
)
 
69.10

 
(592,321
)
 
46.67

Forfeited or canceled
(116,466
)
 
76.76

 
(59,509
)
 
66.81

June 25, 2017
2,687,606

 
$
92.01

 
862,455

 
$
83.83

Granted
964,391

 
183.97

 
285,866

 
170.15

Vested
(1,362,369
)
 
87.80

 
(407,024
)
 
76.88

Forfeited or canceled
(96,540
)
 
108.67

 
(47,571
)
 
91.36

June 24, 2018
2,193,088

 
$
134.34

 
693,726

 
$
104.59

The following table summarizes stock option activity: 
 
Options Outstanding
Number of
Shares
 
Weighted-Average
Exercise
Price
June 28, 2015
835,832

 
$
37.44

Granted
196,167

 
$
75.57

Exercised
(123,726
)
 
$
24.92

Forfeited or expired
(862
)
 
$
21.43

June 26, 2016
907,411

 
$
47.41

Granted
90,128

 
$
119.67

Exercised
(389,460
)
 
$
33.92

Forfeited or expired
(14,020
)
 
$
69.81

June 25, 2017
594,059

 
$
66.69

Granted
63,980

 
$
190.07

Exercised
(166,481
)
 
$
55.62

Forfeited or expired
(8,630
)
 
$
84.44

June 24, 2018
482,928

 
$
86.53
Outstanding and Exercisable Options by Price Range
Outstanding and exercisable options presented by price range at June 24, 2018, 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
Remaining Life
(Years)
 
Weighted-Average
Exercise Price
$11.09-$23.59
33,918

 
1.49
 
$
18.97

 
33,918

 
1.49
 
$
18.97

$28.73-$35.68
39,060

 
2.63
 
$
31.29

 
39,060

 
2.63
 
$
31.29

$42.61-$51.76
75,415

 
2.03
 
$
47.30

 
75,415

 
2.03
 
$
47.30

$75.57-$190.07
334,535

 
5.08
 
$
108.67

 
155,504

 
4.33
 
$
83.58

$11.09-$190.07
482,928

 
4.15
 
$
86.53

 
303,897

 
3.23
 
$
60.65
Schedule of Stock Options Weighted Average Assumptions
The fair value of the Company’s stock options granted during fiscal years 2018, 2017, and 2016 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 24,
2018
 
June 25,
2017
 
June 26,
2016
Expected volatility
34.66
%
 
28.85
%
 
33.08
%
Risk-free interest rate
2.53
%
 
1.92
%
 
1.27
%
Expected term (years)
4.74

 
4.75

 
4.79

Dividend yield
1.05
%
 
1.50
%
 
1.59
%
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.
The fair value of the Company’s market-based PRSUs granted during fiscal years 2018, 2017, and 2016 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 24,
2018
 
June 25,
2017
 
June 26,
2016
Expected volatility
34.07
%
 
27.48
%
 
29.81
%
Risk-free interest rate
2.35
%
 
1.55
%
 
0.97
%
Expected term (years)
2.92

 
2.92

 
2.92

Dividend yield
1.05
%
 
1.50
%
 
1.59
%
Intrinsic Value of Stock Options
The year-end intrinsic value relating to stock options for fiscal years 2018, 2017, and 2016 is presented below: 
 
Year Ended
June 24,
2018
 
June 25,
2017
 
June 26,
2016
 
(in thousands)
Intrinsic value - options outstanding
$
43,563

 
$
50,551

 
$
31,643

Intrinsic value - options exercisable
$
34,661

 
$
36,396

 
$
29,112

Intrinsic value - options exercised
$
23,925

 
$
29,674

 
$
6,562
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 2018, 2017, and 2016 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 24,
2018
 
June 25,
2017
 
June 26,
2016
Expected volatility
34.07
%
 
27.48
%
 
29.81
%
Risk-free interest rate
2.35
%
 
1.55
%
 
0.97
%
Expected term (years)
2.92

 
2.92

 
2.92

Dividend yield
1.05
%
 
1.50
%
 
1.59
%