EQUITY-BASED COMPENSATION PLANS (Tables)

9 Months Ended

Mar. 29, 2020

Share-based Payment Arrangement [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 29, 2020		March 31, 2019		March 29, 2020		March 31, 2019
	(in thousands)
Equity-based compensation expense	$	47,414	$	53,240	$	136,044	$	142,389
Income tax benefit recognized related to equity-based compensation expense	$	24,457	$	28,337	$	38,736	$	42,204

Summary of Stock Plan Transactions

The following table summarizes restricted stock activity:

	Service-based RSUs Outstanding				Market-based PRSUs Outstanding
	Number of Shares		Weighted- Average Grant Date Fair Value		Number of Shares		Weighted- Average Grant Date Fair Value
June 30, 2019	1,796,885		$	159.36	434,774		$	144.57
Granted	579,220		281.72		171,526		320.69
Vested	(879,402	)	151.23		(257,787	)	111.75
Expired or Forfeited	(76,783	)	169.03		(28,008	)	159.04
March 29, 2020	1,419,920		$	213.75	320,505		$	207.95

Stock Options

The fair value of the Company’s stock options granted during the nine months ended March 29, 2020 was estimated using a Black-Scholes options valuation model, which requires the input of highly subjective assumptions, including expected stock price volatility and the estimated life of each award.

The following table summarizes stock option activity:

	Options Outstanding
	Number of Shares		Weighted- Average Exercise Price
June 30, 2019	494,883		$	115.96
Granted	34,236		300.33
Exercised	(93,225	)	66.65
Expired or forfeited	(4,948	)	179.39
March 29, 2020	430,946		$	140.54