Pension and Retirement Plans (Tables)

12 Months Ended

Jun. 30, 2012

Compensation and Retirement Disclosure [Abstract]

Outline changes in benefit obligations, plan assets and the funded status of the pension plan

The following tables outline changes in benefit obligations, plan assets and the funded status of the Plan as of the end of fiscal 2012 and 2011:

	June 30, 2012			July 2, 2011
	(Thousands)
Changes in benefit obligations:
Benefit obligations at beginning of year	$	297,527		$	276,938
Service cost	28,380			23,874
Interest cost	14,925			13,918
Plan amendments	3,360			—
Actuarial loss	48,620			5,168
Benefits paid	(17,656		)	(22,371		)
Benefit obligations at end of year	$	375,156		$	297,527
Change in plan assets:
Fair value of plan assets at beginning of year	$	324,752		$	278,964
Actual return on plan assets	(5,647		)	67,659
Benefits paid	(17,656		)	(22,371		)
Contributions	—			500
Fair value of plan assets at end of year	$	301,449		$	324,752
Funded status of the plan recognized as a non-current asset (liability)	$	(73,707	)	$	27,225
Amounts recognized in accumulated other comprehensive income:
Unrecognized net actuarial loss	$	218,837		$	147,311
Unamortized prior service credit	(9,196		)	(14,431		)
	$	209,641		$	132,880
Other changes in plan assets and benefit obligations recognized in other comprehensive income:
Net actuarial (gain) loss	$	81,206		$	(34,931	)
Prior service cost	3,360			—
Amortization of net actuarial loss	(9,680		)	(8,938		)
Amortization of prior service credit	1,875			1,875
	$	76,761		$	(41,994	)

Weighted average assumptions used to calculate actuarial present values of benefit

Weighted average assumptions used to calculate actuarial present values of benefit obligations are as follows:

	2012	2011
Discount rate	4.00%	5.25%

Weighted average assumptions used to determine net benefit costs

Weighted average assumptions used to determine net benefit costs are as follows:

	2012	2011
Discount rate	5.25%	5.25%
Expected return on plan assets	8.50%	8.50%

Components of net periodic pension costs

Components of net periodic pension costs during the last three fiscal years are as follows:

	Years Ended
	June 30, 2012			July 2, 2011			July 3, 2010
	(Thousands)
Service cost	$	28,380		$	23,874		$	—
Interest cost	14,925			13,918			15,748
Expected return on plan assets	(26,938		)	(27,560		)	(30,137		)
Recognized net actuarial loss	9,680			8,938			5,687
Amortization of prior service credit	(1,875		)	(1,875		)	(4,884		)
Net periodic pension cost	$	24,172		$	17,295		$	(13,586	)

Estimated future benefit payments

Benefit payments are expected to be paid to participants as follows for the next five fiscal years and the aggregate for the five years thereafter (in thousands):

2013	$	28,399
2014	24,035
2015	24,903
2016	28,741
2017	31,977
2018 through 2022	218,671

Plan's assets are held in trust and were allocated

The Plan’s assets are held in trust and were allocated as follows as of the June 30 measurement date for fiscal 2012 and 2011:

	2012		2011
Equity securities	75	%	76	%
Debt securities	24		24
Cash and receivables	1		—