Stock-based compensation (Tables)

12 Months Ended

Jul. 01, 2017

Stock-based compensation

Summary of the assumptions used to estimate the fair value of stock options

	Years Ended
	July 1,		July 2,		June 27,
	2017		2016		2015
Expected term (years)	6.0		6.0		6.0
Risk-free interest rate	1.9	%	1.7	%	1.9	%
Weighted average volatility	27.9	%	29.7	%	31.6	%
Dividend yield	1.5	%	1.9	%	1.8	%

Summary of the changes in outstanding options

		Weighted		Weighted Average
		Average		Remaining
	Shares	Exercise Price		Contractual Life
Outstanding at July 2, 2016	2,325,397	$	34.61	66 Months
Granted	1,516,430		45.50	113 Months
Exercised	(817,598)		31.85	34 Months
Forfeited or expired	(309,723)		43.58	46 Months
Outstanding at July 1, 2017	2,714,506	$	40.51	82 Months
Exercisable at July 1, 2017	1,035,743	$	33.38	51 Months

Summary of the changes in non-vested stock options

		Weighted
		Average
		Grant-Date
	Shares	Fair Value
Non-vested stock options at July 2, 2016	919,151	$	11.20
Granted	1,516,430		9.46
Vested	(561,403)		5.92
Forfeited	(195,415)		9.81
Non-vested stock options at July 1, 2017	1,678,763	$	11.56

Summary of the changes in non-vested restricted incentive shares

		Weighted
		Average
		Grant-Date
	Shares	Fair Value
Non-vested restricted stock units at July 2, 2016	1,720,219	$	39.12
Granted	1,082,795		40.70
Vested	(1,408,706)		38.77
Forfeited	(378,280)	$	40.09
Non-vested restricted stock units at July 1, 2017	1,016,028	$	40.93