EQUITY-BASED COMPENSATION PLANS (Tables)

9 Months Ended

Mar. 29, 2015

Recognized Equity Based Compensation Expense 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 29, 2015		March 30, 2014		March 29, 2015		March 30, 2014
	(in thousands)
Equity-based compensation expense	$	32,948	$	24,334	$	95,620	$	70,615
Income tax benefit related to equity-based compensation expense	$	5,705	$	4,112	$	16,545	$	11,710

Summary of Stock Plan Activity

A summary of stock plan transactions is as follows:

	Options Outstanding					Restricted Stock Units Outstanding
	Number of Shares			Weighted- Average Exercise Price		Number of Shares			Weighted-Average Fair Market Value at Grant
June 29, 2014		1,331,886		$	32.20		5,635,469		$	45.83
Granted		76,659		$	80.60		1,713,990		$	79.74
Exercised		(513,913	)	$	31.61		N/A			N/A
Cancelled		(7,452	)	$	29.86		(136,375	)	$	49.02
Vested restricted stock		N/A			N/A		(1,603,237	)	$	41.23
March 29, 2015		887,180		$	36.74		5,609,847		$	57.43

Schedule of ESPP Weighted-Average Assumptions

Purchase rights under the 1999 ESPP were valued using the Black-Scholes option valuation model and the following weighted-average assumptions for the three and nine months ended March 29, 2015 and March 30, 2014:

	Three Months Ended						Nine Months Ended
	March 29, 2015			March 30, 2014			March 29, 2015			March 30, 2014
Expected term (years)		0.51			0.51			0.68			0.68
Expected stock price volatility		30.47	%		28.89	%		27.62	%		30.24	%
Risk-free interest rate		0.11	%		0.09	%		0.07	%		0.07	%
Dividend Yield		0.51	%		N/A			1.15	%		N/A