Shareholders' equity

12 Months Ended

Jul. 02, 2022

Shareholders' equity

Shareholders' equity

3. Shareholders’ equity

Accumulated comprehensive loss

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

	July 2,		July 3,		June 27,
	2022		2021		2020
	(Thousands)
Accumulated translation adjustments and other	$	(370,612)	$	(46,473)	$	(199,151)
Accumulated pension liability adjustments, net of income taxes		(110,636)		(107,274)		(189,229)
Total accumulated other comprehensive loss	$	(481,248)	$	(153,747)	$	(388,380)

Substantially all amounts reclassified out of accumulated comprehensive loss, net of tax, to operating expenses during fiscal 2022, 2021, and 2020 related to net periodic pension costs as discussed further in Note 10.

Share repurchase program

In May 2022, the Company’s Board of Directors approved a new share repurchase plan with an authorization to repurchase up to an aggregate of $600 million of common stock in the open market or through privately negotiated transactions. The authorization amount includes the amount remaining under the previous share repurchase plan approved in August 2011, as last amended in August 2019. The timing and actual number of shares repurchased will

depend on a variety of factors such as share price, expected liquidity, expected compliance with financial debt convents, corporate and regulatory requirements, and prevailing market conditions. During fiscal 2022, the Company repurchased 4.7 million shares under these programs for a total cost of $193.3 million. As of July 2, 2022, the Company had $531.3 million remaining under its new share repurchase authorization.

Common stock dividend

During fiscal 2022, the Company paid dividends of $1.00 per common share and $98.5 million in total.