Equity-Based Compensation Plans (Tables)

3 Months Ended

Sep. 29, 2013

Recognized Equity Based Compensation Expenses and Related Income Tax Benefit

The Company recognized the following equity-based compensation expense and related income tax benefit in the Condensed Consolidated Statements of Operations:

	Three Months Ended
	September 29,		September 23,
	2013		2012
	(in millions)
Equity-based compensation expense	$	23.2	$	24.4
Income tax benefit related to equity-based compensation expense	$	3.9	$	5.7

Summary of Stock Option Activity

A summary of stock option activity under the Plans as of September 29, 2013 and changes during the three months then ended is presented below:

Options	Shares (in thousands)			Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Term (years)		Aggregate Intrinsic Value as of September 29, 2013 (in thousands)
Outstanding at June 30, 2013		2,571		$	26.87		4.48
Exercised		(534	)	$	23.56
Outstanding at September 29, 2013		2,037		$	27.73		4.72	$	47,674
Exercisable at September 29, 2013		1,339		$	24.89		3.69	$	35,134

Summary of Restricted Stock Units

A summary of the Company’s RSUs as of September 29, 2013 and changes during the three months then ended is presented below:

	Shares			Average Grant-
Unvested Restricted Stock Units	(in thousands)			Date Fair Value
Unvested at June 30, 2013		4,842		$	39.32
Granted		32		$	48.09
Vested		(403	)	$	38.90
Forfeited		(89	)	$	39.46
Unvested at September 29, 2013		4,382		$	39.42

Schedule of ESPP Weighted-Average Assumptions

Purchase rights under the 1999 ESPP were valued using the Black-Scholes option valuation model assuming no expected dividends and the following weighted-average assumptions for the three months ended September 29, 2013:

	Three Months Ended
	September 29,
	2013
Expected term (years)		0.66
Expected stock price volatility		31.43	%
Risk-free interest rate		0.11	%