SUMMARY OF ACCOUNTING POLICIES (Tables)

12 Months Ended

Jun. 29, 2024

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents

The following table sets forth the company’s reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Statement of Cash Flows that sum to the total of the same such amounts shown in the consolidated balance sheets:

	Jun. 29, 2024		Jul. 1, 2023		Jul. 2, 2022
	(In millions)
Cash and cash equivalents	$	696	$	745	$	867
Restricted cash (1)	249		221		64
Total cash, cash equivalents and restricted cash shown in the Consolidated Statement of Cash Flows	$	945	$	966	$	931

(1) Restricted cash primarily represents cash and cash equivalents of the Captive which is restricted for use to secure the insurer’s obligations for workers’ compensation, general liability and auto liability programs. Restricted cash is located within other assets in each consolidated balance sheet.

Schedule of Restrictions on Cash and Cash Equivalents

The following table sets forth the company’s reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Statement of Cash Flows that sum to the total of the same such amounts shown in the consolidated balance sheets:

	Jun. 29, 2024		Jul. 1, 2023		Jul. 2, 2022
	(In millions)
Cash and cash equivalents	$	696	$	745	$	867
Restricted cash (1)	249		221		64
Total cash, cash equivalents and restricted cash shown in the Consolidated Statement of Cash Flows	$	945	$	966	$	931

(1) Restricted cash primarily represents cash and cash equivalents of the Captive which is restricted for use to secure the insurer’s obligations for workers’ compensation, general liability and auto liability programs. Restricted cash is located within other assets in each consolidated balance sheet.

Schedule of Non-cash Investing and Financing Activities

The following table sets forth the company’s non-cash investing and financing activities:

	Jun. 29, 2024		Jul. 1, 2023		Jul. 2, 2022
	(In millions)
Non-cash investing and financing activities:
Plant and equipment acquired through financing programs	$	402	$	197	$	—
Assets obtained in exchange for finance lease obligations	115		114		192