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EQUITY-BASED COMPENSATION PLANS (Tables)
 9 Months Ended
Mar. 30, 2014
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      Nine Months Ended  
     March 30,      March 31,      March 30,      March 31,  
     2014      2013      2014      2013  
     (in millions)  

Equity-based compensation expense

    $ 24.3       $ 25.6       $ 70.6       $ 74.1   

Income tax benefit related to equity-based compensation expense

    $ 4.1       $ 4.3       $ 11.7       $ 13.3   
Summary of Stock Option Activity

A summary of stock option activity under the Plans as of March 30, 2014 and changes during the nine 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
March 30, 2014
(in thousands)		  

Outstanding at June 30, 2013

      2,571      $   26.87         4.48      

Granted

      166      $ 51.76         

Exercised

      (1,065 )    $ 24.50         

Forfeited or expired

      (1 )    $ 29.71         
  

 

 

          

Outstanding at March 30, 2014

      1,671      $ 30.86         4.78       $ 39,501   
  

 

 

          

Exercisable at March 30, 2014

      1,066      $ 24.62         3.86       $ 31,840   
  

 

 

          
Summary of Restricted Stock Units

A summary of the Company’s RSUs as of March 30, 2014 and changes during the nine months then ended is presented below:

 

     Shares     Average Grant-  

Unvested Restricted Stock Units

    (in thousands)     Date Fair Value  

Unvested at June 30, 2013

      4,842      $ 39.32   

Granted

      1,376      $ 49.47   

Vested

      (1,313 )    $ 39.84   

Forfeited

      (181 )    $ 39.48   
  

 

 

    

Unvested at March 30, 2014

      4,724      $ 42.12   
  

 

 

    
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 three and nine months ended March 30, 2014:

 

     Three Months Ended     Nine Months Ended  
     March 30,     March 30,  
     2014     2014  

Expected term (years)

      0.51        0.68   

Expected stock price volatility

      28.89 %      30.24 % 

Risk-free interest rate

      0.09 %      0.07 %