COMPANY-SPONSORED EMPLOYEE BENEFIT PLANS (Tables)

9 Months Ended

Apr. 01, 2023

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 39-week period ended April 1, 2023:

	U.S. Retirement Plan
	(In thousands)
Change in benefit obligation:
Benefit obligation at July 2, 2022	$	3,538,232
Service cost	6,247
Interest cost	116,508
Actuarial gain, net	(440,311)
Benefit payments	(96,768)
Settlements	(694,998)
Benefit obligation at April 1, 2023	2,428,910
Change in plan assets:
Fair value of plan assets at July 2, 2022	3,633,167
Actual return on plan assets	(420,775)
Benefit payments	(96,768)
Settlements	(694,998)
Fair value of plan assets at April 1, 2023	2,420,626
Funded status at April 1, 2023	$	(8,284)

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 third quarter and first 39 weeks of fiscal 2023 and fiscal 2022 are as follows:

	13-Week Period Ended				39-Week Period Ended
	Apr. 1, 2023		Apr. 2, 2022		Apr. 1, 2023		Apr. 2, 2022
	(In thousands)				(In thousands)
Service cost	$	1,890	$	3,382	$	6,247	$	10,146
Interest cost	35,904		34,792		116,508		104,376
Expected return on plan assets	(35,425)		(51,580)		(112,402)		(154,740)
Amortization of prior service cost	98		99		295		297
Amortization of actuarial loss	7,018		7,304		23,627		21,912
Settlement loss recognized	—		—		315,354		—
Net pension (benefits) costs	$	9,485	$	(6,003)	$	349,629	$	(18,009)