Stock-based compensation (Tables)

12 Months Ended

Jun. 27, 2020

Stock-based compensation

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

	Years Ended
	June 27,		June 29,		June 30,
	2020		2019		2018
Expected term (years)	6.0		6.0		6.0
Risk-free interest rate	1.6	%	2.8	%	2.0	%
Weighted average volatility	23.7	%	23.1	%	26.3	%
Dividend yield	2.3	%	1.8	%	2.0	%

Summary of the changes in outstanding options

		Weighted		Weighted Average
		Average		Remaining
	Shares	Exercise Price		Contractual Life
Outstanding at June 29, 2019	1,236,639	$	40.90	78 Months
Granted	383,984		39.72	110 Months
Exercised	(37,349)		24.98	5 Months
Forfeited or expired	(45,605)		42.61	93 Months
Outstanding at June 27, 2020	1,537,669	$	40.94	75 Months
Exercisable at June 27, 2020	756,570	$	39.88	56 Months

Summary of the changes in non-vested stock options

		Weighted
		Average
		Grant-Date
	Shares	Fair Value
Non-vested stock options at June 29, 2019	691,473	$	10.00
Granted	383,984		7.41
Vested	(248,753)		10.08
Forfeited	(45,605)		9.42
Non-vested stock options at June 27, 2020	781,099	$	8.73

Summary of the changes in non-vested restricted incentive shares

		Weighted
		Average
		Grant-Date
	Shares	Fair Value
Non-vested restricted stock units at June 29, 2019	909,177	$	42.03
Granted	812,412		38.06
Vested	(616,852)		40.20
Forfeited	(88,915)		40.94
Non-vested restricted stock units at June 27, 2020	1,015,822	$	40.06