Derivative Instruments and Hedging Activities (Tables)
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12 Months Ended |
Jun. 27, 2015 |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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| Schedule of Derivative Instruments in Statement of Financial Position, Fair Value |
The balance sheet location and gross fair value of our outstanding derivative instruments were as follows:
| | | | | | | | | | | | Asset Derivatives | | | | Fair Value | | Balance Sheet Location | | June 27,
2015 | | June 28,
2014 | Designated derivatives: | | | | | | Foreign currency forward contracts | Other current assets | | $ | 3.3 |
| | $ | 2.8 |
| Total designated derivatives | | | $ | 3.3 |
| | $ | 2.8 |
| Non-designated derivatives: | | | | | | Foreign currency forward contracts | Other current assets | | $ | 9.1 |
| | $ | 0.3 |
| Total non-designated derivatives | | | $ | 9.1 |
| | $ | 0.3 |
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| | | | | | | | | | | | Liability Derivatives | | | | Fair Value | | Balance Sheet Location | | June 27,
2015 | | June 28,
2014 | Designated derivatives: | | | | | | Foreign currency forward contracts | Accrued liabilities | | $ | 2.0 |
| | $ | 0.7 |
| Interest rate swap agreements | Other non-current liabilities | | — |
| | 8.3 |
| Total designated derivatives | | | $ | 2.0 |
| | $ | 9.0 |
| Non-designated derivatives: | | | | | | Foreign currency forward contracts | Accrued liabilities | | $ | 2.6 |
| | $ | 0.1 |
| Total non-designated derivatives | | | $ | 2.6 |
| | $ | 0.1 |
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| Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) [Table Text Block] |
The gains (losses) recognized in OCI for the effective portion of our designated cash flow hedges were as follows: | | | | | | | | | | | | Amount of Gain/(Loss) Recorded in OCI
(Effective Portion) | Designated Cash Flow Hedges | | June 27,
2015 | | June 28,
2014 | Treasury locks | | $ | (2.7 | ) | | $ | — |
| Interest rate swap agreements | | (10.1 | ) | | 7.2 |
| Foreign currency forward contracts | | (7.7 | ) | | 15.1 |
| | | $ | (20.5 | ) | | $ | 22.3 |
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| Reclassification out of Accumulated Other Comprehensive Income [Table Text Block] |
The gains (losses) reclassified from AOCI into earnings for the effective portion of our designated cash flow hedges were as follows: | | | | | | | | | | | | | | | | Amount of Gain/(Loss) Reclassified from AOCI to Income
(Effective Portion) | Designated Cash Flow Hedges | | Income Statement Location | | June 27,
2015 | | June 28,
2014 | Treasury locks | | Interest expense, net | | $ | (0.1 | ) | | $ | 0.2 |
| Interest rate swap agreements | | Interest expense, net | | (16.4 | ) | | 3.9 |
| Foreign currency forward contracts | | Net sales | | 2.0 |
| | (2.5 | ) | | | Cost of sales | | (4.2 | ) | | (6.3 | ) | | | Interest expense, net | | — |
| | (0.2 | ) | | | Other expense, net | | (4.5 | ) | | (2.2 | ) | | | | | $ | (23.2 | ) | | $ | (7.1 | ) |
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| Schedule of hedge ineffectiveness [Table Text Block] |
The gains (losses) recognized against earnings for the ineffective portion of our designated cash flow hedges were as follows: | | | | | | | | | | | | | | | | Amount of Gain/(Loss) Recognized in Income
(Ineffective Portion) | Designated Cash Flow Hedges | | Income Statement Location | | June 27,
2015 | | June 28,
2014 | Treasury locks | | Other expense, net | | $ | (0.4 | ) | | $ | 2.3 |
| Interest rate swap agreements | | Other expense, net | | (0.7 | ) | | (5.4 | ) | Foreign currency forward contracts | | Net sales | | (0.1 | ) | | (0.1 | ) | | | Cost of sales | | 0.2 |
| | 0.3 |
| Total | | | | $ | (1.0 | ) | | $ | (2.9 | ) |
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| Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] |
The effects of our fair value hedges on the Consolidated Statements of Operations were as follows: | | | | | | | | | | | | | | | | Amount of Gain/(Loss) Recognized in Income | Designated Fair Value Hedges | | Income Statement Location | | June 27,
2015 | | June 28,
2014 | Interest rate swap agreements | | Other expense, net | | $ | — |
| | $ | 0.9 |
| Fixed-rate debt | | Other expense, net | | — |
| | (4.1 | ) | Net hedge | | | | $ | — |
| | $ | (3.2 | ) |
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| Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] |
The effects of our non-designated derivatives on the Consolidated Statements of Operations were as follows: | | | | | | | | | | | | | | | | Amount of Gain/(Loss) Recognized in Income | Non-Designated Derivatives | | Income Statement Location | | June 27,
2015 | | June 28,
2014 | Foreign currency forward contracts | | Other expense, net | | $ | (295.4 | ) | | $ | (0.1 | ) | | | Interest expense, net | | (3.4 | ) | | — |
| Foreign exchange option contracts | | Other expense, net | | (26.4 | ) | | — |
| Total | | | | $ | (325.2 | ) | | $ | (0.1 | ) |
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