Income Taxes (Tables)

12 Months Ended

Jun. 30, 2012

Earnings before income taxes by jurisdiction table

	2012		2011		2010 (53 Weeks)
		(In thousands)
United States	$	1,606,928	$	1,639,258	$	1,679,867
Foreign		177,074		188,196		169,722
Total	$	1,784,002	$	1,827,454	$	1,849,589

Income tax provision by jurisdiction table

	2012		2011		2010 (53 Weeks)
	(In thousands)
United States federal income taxes	$	540,861	$	556,663	$	533,832
State and local income taxes		77,064		60,081		80,492
Foreign income taxes		44,492		58,680		55,282
Total	$	662,417	$	675,424	$	669,606

Income tax provision by component table

	2012		2011		2010 (53 Weeks)
		(In thousands)
Current	$	840,745	$	840,173	$	791,120
Deferred		(178,328)		(164,749)		(121,514)
Total	$	662,417	$	675,424	$	669,606

Components of deferred tax assets and liabilities table

	June 30, 2012		July 2, 2011
	(In thousands)
Deferred tax liabilities:
Deferred supply chain distributions	$	-	$	276,001
Excess tax depreciation and basis differences of assets		473,947		384,702
Goodwill and intangible assets		186,921		175,747
Other		19,756		35,497
Total deferred tax liabilities		680,624		871,947
Deferred tax assets:
Net operating tax loss carryforwards		21,609		32,648
Benefit on unrecognized tax benefits		23,287		23,463
Pension		362,391		162,212
Share-based compensation		63,522		61,273
Deferred compensation		36,639		37,659
Self-insured liabilities		41,030		40,454
Receivables		51,607		52,614
Inventory		59,619		54,853
Other		40,257		56,465
Total deferred tax assets		699,961		521,641
Total net deferred tax (assets) liabilities	$	(19,337)	$	350,306

Tax rate reconciliation table

	2012		2011		2010
United States statutory federal income tax rate	35.00	%	35.00	%	35.00	%
State and local income taxes, net of any applicable federal income tax benefit	2.65		1.96		2.89
Foreign income taxes	(1.07)		(0.50)		(0.31)
Impact of uncertain tax benefits	0.12		0.51		(1.46)
Impact of adjusting carrying value of corporate-owned life insurance policies to their cash surrender values	(0.08)		(0.61)		(0.45)
Other	0.51		0.60		0.53
	37.13	%	36.96	%	36.20	%

Reconciliation of unrecognized tax benefits table

	2012		2011
		(In thousands)
Unrecognized tax benefits at beginning of year	$	72,091	$	89,851
Additions for tax positions related to prior years		2,479		21,099
Reductions for tax positions related to prior years		(2,154)		(11,955)
Additions for tax positions related to the current year		-		-
Reductions for tax positions related to the current year		-		-
Reductions due to settlements with taxing authorities		(2,831)		(25,294)
Reductions due to lapse of applicable statute of limitations		(1,431)		(1,610)
Unrecognized tax benefits at end of year	$	68,154	$	72,091

2003 through 2006 IRS Settlement [Member]

Settlement annual payments table

	(In thousands)
Fiscal 2010	$	528,000
Fiscal 2011		212,000
Fiscal 2012		212,000