OTHER COMPREHENSIVE INCOME (Tables)

12 Months Ended

Jul. 01, 2023

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of components of other comprehensive (loss) income and related tax effects

A summary of the components of other comprehensive income (loss) and the related tax effects for each of the periods presented is as follows:

		2023
	Location of Expense (Income) Recognized in Net Earnings	Before Tax Amount		Tax		Net of Tax Amount
		(In thousands)
Pension and other postretirement benefit plans:
Other comprehensive income before reclassification adjustments:
Net actuarial loss, arising in the current year	Other expense, net	$	(120,820)	$	(32,021)	$	(88,799)
Settlements	Other expense, net	315,455		78,864		236,591
Total other comprehensive income before reclassification adjustments		194,635		46,843		147,792
Reclassification adjustments:
Amortization of prior service cost	Other expense, net	396		100		296
Amortization of actuarial loss, net	Other expense, net	31,601		7,895		23,706
Total reclassification adjustments		31,997		7,995		24,002
Foreign currency translation:
Foreign currency translation adjustment	N/A	127,227		—		127,227
Marketable securities:
Change in marketable securities (1)	N/A	(2,306)		(485)		(1,821)
Hedging instruments:
Other comprehensive income (loss) before reclassification adjustments:
Change in excluded component of fair value   hedge	Other expense, net	(199)		(50)		(149)
Change in cash flow hedges	Operating expenses (2)	(71,270)		(15,936)		(55,334)
Change in net investment hedges	N/A	(27,902)		(6,984)		(20,918)
Total other comprehensive income (loss) before reclassification adjustments		(99,371)		(22,970)		(76,401)
Reclassification adjustments:
Amortization of cash flow hedges	Interest expense	11,553		2,888		8,665
Total other comprehensive income		$	263,735	$	34,271	$	229,464

(1)	Realized gains or losses on marketable securities are presented within other (income) expense, net in the consolidated results of operations; however, there were no significant gains or losses realized in fiscal 2023.
(2)	Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges.

		2022
	Location of Expense (Income) Recognized in Net Earnings	Before Tax Amount		Tax		Net of Tax Amount
		(In thousands)
Pension and other postretirement benefit plans:
Other comprehensive income before reclassification adjustments:
Net actuarial gain, arising in the current year		$	(11,243)	$	(2,485)	$	(8,758)
Reclassification adjustments:
Amortization of prior service cost	Other expense, net	396		100		296
Amortization of actuarial loss, net	Other expense, net	74,713		15,595		59,118
Total reclassification adjustments		75,109		15,695		59,414
Foreign currency translation:
Foreign currency translation adjustment	N/A	(461,425)		—		(461,425)
Marketable securities:
Change in marketable securities (1)	N/A	(11,880)		(2,493)		(9,387)
Hedging instruments:
Other comprehensive income (loss) before reclassification adjustments:
Change in cash flow hedges	Operating expenses (2)	31,135		6,823		24,312
Change in net investment hedges	N/A	71,906		17,976		53,930
Total other comprehensive income before reclassification adjustments		103,041		24,799		78,242
Reclassification adjustments:
Amortization of cash flow hedges	Interest expense	11,501		2,877		8,624
Total other comprehensive income		$	(294,897)	$	38,393	$	(333,290)

(1)	Realized gains or losses on marketable securities are presented within other (income) expense, net in the consolidated results of operations; however, there were no significant gains or losses realized in fiscal 2022.
(2)	Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges.

		2021
	Location of Expense (Income) Recognized in Net Earnings	Before Tax Amount		Tax		Net of Tax Amount
		(In thousands)
Pension and other postretirement benefit plans:
Other comprehensive income before reclassification adjustments:
Net actuarial gain (loss), arising in the current year		$	208,640	$	52,160	$	156,480
Reclassification adjustments:
Amortization of prior service cost	Other expense, net	732		184		548
Amortization of actuarial loss, net	Other expense, net	61,042		14,347		46,695
Total reclassification adjustments		61,774		14,531		47,243
Foreign currency translation:
Foreign currency translation adjustment	N/A	362,292		—		362,292
Marketable securities:
Change in marketable securities (1)	N/A	(3,392)		(712)		(2,680)
Hedging instruments:
Other comprehensive income (loss) before reclassification adjustments:
Change in cash flow hedges	Operating expenses (2)	19,066		4,941		14,125
Change in net investment hedges	N/A	(32,206)		(8,051)		(24,155)
Total other comprehensive income before reclassification adjustments		(13,140)		(3,110)		(10,030)
Reclassification adjustments:
Amortization of cash flow hedges	Interest expense	11,751		2,939		8,812
Total other comprehensive loss		$	627,925	$	65,808	$	562,117

(1)	Realized gains or losses on marketable securities are presented within other (income) expense, net in the consolidated results of operations; however, there were no significant gains or losses realized in fiscal 2021.
(2)	Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges.

Schedule of rollforward of accumulated other comprehensive (loss) income

The following tables provide a summary of the changes in accumulated other comprehensive (loss) income for the periods presented:

	Pension and Other Postretirement Benefit Plans, net of tax		Foreign Currency Translation		Hedging, net of tax		Marketable Securities		Total
	(In thousands)
Balance as of Jun. 27, 2020	$	(1,265,714)	$	(402,384)	$	(49,878)	$	7,095	$	(1,710,881)
Other comprehensive income before     reclassification adjustments	156,480		362,292		(10,030)		—		508,742
Amounts reclassified from accumulated     other comprehensive loss	47,243		—		8,812		—		56,055
Change in marketable securities	—		—		—		(2,680)		(2,680)
Balance as of Jul. 3, 2021	(1,061,991)		(40,092)		(51,096)		4,415		(1,148,764)
Other comprehensive income before     reclassification adjustments	(8,758)		(461,425)		78,242		—		(391,941)
Amounts reclassified from accumulated     other comprehensive loss	59,414		—		8,624		—		68,038
Change in marketable securities	—		—		—		(9,387)		(9,387)
Balance as of Jul. 2, 2022	(1,011,335)		(501,517)		35,770		(4,972)		(1,482,054)
Other comprehensive income before     reclassification adjustments	147,792		127,227		(76,401)		—		198,618
Amounts reclassified from accumulated     other comprehensive loss	24,002		—		8,665		—		32,667
Change in marketable securities	—		—		—		(1,821)		(1,821)
Balance as of Jul. 1, 2023	$	(839,541)	$	(374,290)	$	(31,966)	$	(6,793)	$	(1,252,590)