LONG-TERM DEBT AND OTHER BORROWINGS (Tables)

3 Months Ended

Sep. 26, 2021

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

As of September 26, 2021, and June 27, 2021, the Company’s outstanding debt consisted of the following:

	September 26, 2021					June 27, 2021
	Amount (in thousands)			Effective Interest Rate		Amount (in thousands)			Effective Interest Rate
Fixed-rate 3.80% Senior Notes Due March 15, 2025 ("2025 Notes")	500,000			3.87	%	500,000			3.87	%
Fixed-rate 3.75% Senior Notes Due March 15, 2026 ("2026 Notes")	750,000			3.86	%	750,000			3.86	%
Fixed-rate 4.00% Senior Notes Due March 15, 2029 ("2029 Notes")	1,000,000			4.09	%	1,000,000			4.09	%
Fixed-rate 1.90% Senior Note Due June 15, 2030 ("2030 Notes")	750,000			2.01	%	750,000			2.01	%
Fixed-rate 4.875% Senior Notes Due March 15, 2049 ("2049 Notes")	750,000			4.93	%	750,000			4.93	%
Fixed-rate 2.875% Senior Note Due June 15, 2050 ("2050 Notes")	750,000			2.93	%	750,000			2.93	%
Fixed-rate 3.125% Senior Note Due June 15, 2060 ("2060 Notes")	500,000			3.18	%	500,000			3.18	%
Total debt outstanding, at par	5,000,000					5,000,000
Unamortized discount	(37,634)					(38,243)
Fair value adjustment - interest rate contracts	6,174		(1)			6,621		(1)
Unamortized bond issuance costs	(7,291)					(7,443)
Total debt outstanding, at carrying value	$	4,961,249				$	4,960,935
Reported as:
Long-term debt	$	4,961,249				$	4,960,935

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(1) This amount represents a cumulative fair value gain for discontinued hedging relationships, net of an immaterial amount of amortization as of the periods presented.

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

Selected additional information regarding the Senior Notes outstanding as of September 26, 2021, is as follows: 

	Remaining Amortization period	Fair Value of Notes (Level 2)
	(years)	(in thousands)
2025 Notes	3.5	$	545,650
2026 Notes	4.5	$	833,085
2029 Notes	7.5	$	1,154,650
2030 Notes	8.7	$	753,600
2049 Notes	27.5	$	1,033,058
2050 Notes	28.7	$	772,118
2060 Notes	38.7	$	529,535

Schedule of Recognized Interest Cost Relating to Both Contractual Interest Coupon and Amortization of Discount on Liability Component of Notes

The following table presents the amount of interest cost recognized relating to both the contractual interest coupon and amortization of the debt discount, issuance costs, and effective portion of interest rate contracts with respect to the Senior Notes, convertible notes, and the revolving credit facility during the three months ended September 26, 2021 and September 27, 2020.

	Three Months Ended
	September 26, 2021		September 27, 2020
	(in thousands)
Contractual interest coupon	$	43,782	$	49,571
Amortization of interest discount	683		1,012
Amortization of issuance costs	335		411
Effect of interest rate contracts, net	605		506
Total interest cost recognized	$	45,405	$	51,500