STOCK REPURCHASE PROGRAM

6 Months Ended

Dec. 27, 2020

Equity [Abstract]

STOCK REPURCHASE PROGRAM

STOCK REPURCHASE PROGRAMIn November 2020, the Board of Directors authorized the Company to repurchase up to an additional $5.0 billion of Common Stock; this authorization supplements the remaining balances from any prior authorizations. These repurchases can be conducted on the open market or as private purchases and may include the use of derivative contracts with large financial institutions, in all cases subject to compliance with applicable law. This repurchase program has no termination date and may be suspended or discontinued at any time.

Repurchases under the repurchase program were as follows during the periods indicated:

Period	Total Number of Shares Repurchased	Total Cost of Repurchase		Average Price Paid Per Share		Amount Available Under Repurchase Program
	(in thousands, except per share data)
Available balance as of June 28, 2020						$	1,773,427
Quarter ended September 27, 2020	1,344	$	461,998	$	343.73	$	1,311,429
Board authorization, $5 billion increase, November 2020						$	6,311,429
Quarter ended December 27, 2020	1,789	$	724,485	$	404.98	$	5,586,944

In addition to the shares repurchased under the Board-authorized repurchase program shown above, during the three and six months ended December 27, 2020, the Company acquired 8 thousand shares at a total cost of $3.3 million and 23 thousand shares at a total cost of $8.4 million, respectively, which the Company withheld through net settlements to cover minimum tax withholding obligations upon the vesting of restricted stock unit awards granted under the Company’s equity compensation plans. The shares retained by the Company through these net share settlements are not a part of the Board-authorized repurchase program but instead are authorized under the Company’s equity compensation plan.