LEASES (Tables)

12 Months Ended

Jun. 27, 2020

Leases [Abstract]

Schedule Of Lease, Financial Statement Presentation

The following table presents the location of the finance lease ROU assets and lease liabilities in the company’s Consolidated Balance Sheet at June 27, 2020:

	Consolidated Balance Sheet Location	Jun. 27, 2020
		(In thousands)
Finance lease right-of-use assets	Plant and equipment at cost, less accumulated depreciation	$	99,918
Current finance lease liabilities	Current maturities of long-term debt	33,670
Long-term finance lease liabilities	Long-term debt	68,942

Schedule of Lease Costs

The following table presents lease costs for each of the presented periods ended June 27, 2020:

	Consolidated Results of Operations Location		2020
		(In thousands)
Operating lease cost	Operating expenses		$	123,269
Financing lease cost:
Amortization of right-of-use assets	Operating expenses		38,285
Interest on lease obligations	Interest expense		4,667
Variable lease cost	Operating expenses		7,606
Short-term lease cost	Operating expenses		13,602
Net lease cost			$	187,429

Other information related to lease agreements was as follows:

	2020
Cash Paid For Amounts Included In Measurement of Liabilities:	(Dollars in thousands)
Operating cash flows for operating leases	$	124,040
Operating cash flows for financing leases	4,666
Financing cash flows for financing leases	34,145
Supplemental Non-cash Information on Lease Liabilities:
Assets obtained in exchange for operating lease obligations	$	64,968
Assets obtained in exchange for finance lease obligations	17,019
Lease Term and Discount Rate:
Weighted-average remaining lease term (years):
Operating leases	11.54 years
Financing leases	4.03 years
Weighted-average discount rate:
Operating leases	2.37		%
Financing leases	4.24		%

Schedule of Minimum Operating Lease Obligations

Future minimum lease obligations under existing noncancelable operating and finance lease agreements by fiscal year as of June 27, 2020 are as follows:

	Operating Leases		Finance Leases
	(In thousands)
2021	$	120,815	$	37,218
2022	91,755		26,889
2023	75,845		19,916
2024	52,480		12,786
2025	46,746		7,828
Thereafter	343,056		7,102
Total undiscounted lease obligations	730,697		111,739
Less imputed interest	(100,034)		(9,127)
Present value of lease obligations	$	630,663	$	102,612

Schedule of Minimum Finance Lease Obligations

Future minimum lease obligations under existing noncancelable operating and finance lease agreements by fiscal year as of June 27, 2020 are as follows:

	Operating Leases		Finance Leases
	(In thousands)
2021	$	120,815	$	37,218
2022	91,755		26,889
2023	75,845		19,916
2024	52,480		12,786
2025	46,746		7,828
Thereafter	343,056		7,102
Total undiscounted lease obligations	730,697		111,739
Less imputed interest	(100,034)		(9,127)
Present value of lease obligations	$	630,663	$	102,612