Shareholders' equity

12 Months Ended

Jun. 30, 2018

Shareholders' equity

Shareholders' equity

5. Shareholders’ equity

Accumulated comprehensive (loss) income

The following table includes the balances within accumulated other comprehensive (loss) income:

	June 30,		July 1,		July 2,
	2018		2017		2016
	(Thousands)
Accumulated translation adjustments and other	$	(78,848)	$	(86,647)	$	(362,228)
Accumulated pension liability adjustments, net of income taxes		(116,503)		(157,219)		(158,547)
Total accumulated other comprehensive (loss) income	$	(195,351)	$	(243,866)	$	(520,775)

Amounts reclassified out of accumulated comprehensive (loss) income, net of tax, to operating expenses and discontinued operations during fiscal 2018, 2017 and 2016 substantially all related to net periodic pension costs as discussed further in Note 11 and cumulative translation adjustment from the sale of the TS business discussed further in Note 3.

Share repurchase program

In November 2017, the Company’s Board of Directors amended the Company’s existing share repurchase program to authorize the repurchase of up to $1.95 billion of common stock in the open market or through privately negotiated transactions. The timing and actual number of shares repurchased will depend on a variety of factors such as share price, corporate and regulatory requirements, and prevailing market conditions. During fiscal 2018, the Company repurchased 8.2 million shares under this program at an average market price of $40.11 per share for a total cost of $326.9 million. Repurchased shares were retired. Since the beginning of the repurchase program through the end of fiscal 2018, the Company has repurchased 45.9 million shares at an aggregate cost of $1.68 billion, and $272.1 million remains available for future repurchases under the share repurchase program.

Common stock dividend

During fiscal 2018, the Company paid dividends of $0.74 per common share and $88.3 million in total.