Equity-Based Compensation Plans (Tables)

6 Months Ended

Dec. 29, 2013

Recognized Equity Based Compensation Expenses and Related Income Tax Benefit

The Company recognized the following equity-based compensation expense and related income tax benefit in the Condensed Consolidated Statements of Operations:

	Three Months Ended				Six Months Ended
	December 29, 2013		December 23, 2012		December 29, 2013		December 23, 2012
	(in millions)
Equity-based compensation expense	$	23.0	$	24.0	$	46.3	$	48.4
Income tax benefit related to equity-based compensation expense	$	3.7	$	3.3	$	7.6	$	9.0

Summary of Stock Option Activity

A summary of stock option activity under the Plans as of December 29, 2013 and changes during the six months then ended is presented below:

Options	Shares (in thousands)			Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Term (years)		Aggregate Intrinsic Value as of December 29, 2013 (in thousands)
Outstanding at June 30, 2013		2,571		$	26.87		4.48
Exercised		(842	)	$	24.98
Forfeited or expired		(1	)	$	29.71
Outstanding at December 29, 2013		1,728		$	27.79		4.88	$	45,607
Exercisable at December 29, 2013		1,270		$	24.17		4.30	$	38,118

Summary of Restricted Stock Units

A summary of the Company’s RSUs as of December 29, 2013 and changes during the six months then ended is presented below:

Unvested Restricted Stock Units	Shares (in thousands)			Average Grant- Date Fair Value
Unvested at June 30, 2013		4,842		$	39.32
Granted		127		$	51.97
Vested		(1,014	)	$	39.45
Forfeited		(138	)	$	39.49
Unvested at December 29, 2013		3,817		$	39.70

Schedule of ESPP Weighted-Average Assumptions

Purchase rights under the 1999 ESPP were valued using the Black-Scholes option valuation model assuming no expected dividends and the following weighted-average assumptions for the six months ended December 29, 2013:

	Six Months Ended December 29, 2013
Expected term (years)		0.66
Expected stock price volatility		31.43	%
Risk-free interest rate		0.11	%