COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS (Tables)

6 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Schedule of defined benefit plans funded status

The following table presents the changes in benefit obligations and plan assets of the U.S. Retirement Plan affected by the interim remeasurements described above for the 26-week period ended December 31, 2022:

	U.S. Retirement Plan
	(In thousands)
Change in benefit obligation:
Benefit obligation at July 2, 2022	$	3,538,232
Service cost	4,357
Interest cost	80,604
Actuarial gain, net	(440,311)
Benefit payments	(71,839)
Settlements	(694,998)
Benefit obligation at December 31, 2022	2,416,045
Change in plan assets:
Fair value of plan assets at July 2, 2022	3,633,167
Actual return on plan assets	(456,202)
Benefit payments	(71,839)
Settlements	(694,998)
Fair value of plan assets at December 31, 2022	2,410,128
Funded status at December 31, 2022	$	(5,917)

Schedule of defined benefit plans components of net benefit cost

The components of net company-sponsored benefit cost for the U.S. Retirement Plan for the second quarter and first 26 weeks of fiscal 2023 and fiscal 2022 are as follows:

	13-Week Period Ended				26-Week Period Ended
	Dec. 31, 2022		Jan. 1, 2022		Dec. 31, 2022		Jan. 1, 2022
	(In thousands)				(In thousands)
Service cost	$	2,034	$	3,382	$	4,357	$	6,764
Interest cost	38,103		34,792		80,604		69,584
Expected return on plan assets	(36,957)		(51,580)		(76,977)		(103,160)
Amortization of prior service cost	98		99		197		198
Amortization of actuarial loss	7,661		7,304		16,609		14,608
Settlement loss recognized	315,354		—		315,354		—
Net pension (benefits) costs	$	326,293	$	(6,003)	$	340,144	$	(12,006)