NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Jun. 28, 2017

Disclosure Nature Of Operations And Summary Of Significant Accounting Policies Narrative [Abstract]

Fair Value Assumptions Using The Black-Scholes Option-Pricing Model

The fair value of stock options is estimated using the Black-Scholes option-pricing model with the following weighted average assumptions:

	2017		2016		2015
Expected volatility	25.5	%	27.5	%	31.0	%
Risk-free interest rate	1.3	%	1.5	%	1.6	%
Expected lives	5 years		5 years		5 years
Dividend yield	2.6	%	2.4	%	2.2	%

Expected volatility and the expected life of stock options are based on historical experience. The risk-free rate is based on the yield of a Treasury Note with a term equal to the expected life of the stock options. The dividend yield is based on the most recent quarterly dividend per share declared and the closing stock price on the declaration date.

Schedule of Weighted Average Number of Shares

Basic weighted average shares outstanding is reconciled to diluted weighted average shares outstanding as follows (in thousands):

	2017	2016	2015
Basic weighted average shares outstanding	50,638	57,895	63,072
Dilutive stock options	192	316	569
Dilutive restricted shares	420	473	763
	612	789	1,332
Diluted weighted average shares outstanding	51,250	58,684	64,404
Awards excluded due to anti-dilutive effect on earnings per share	973	550	119