Shareholders' Equity

12 Months Ended

Jun. 28, 2014

Equity [Abstract]

Shareholders' equity

Shareholders' equity

Accumulated comprehensive income (loss)

The following table includes the balances within accumulated other comprehensive income (loss):

	June 28, 2014			June 29, 2013			June 30, 2012
	(Thousands)
Accumulated translation adjustments and other	$	244,149		$	135,395		$	90,798
Accumulated pension liability adjustments, net of income taxes	(104,637		)	(106,500		)	(136,630		)
Total accumulated other comprehensive income (loss)	$	139,512		$	28,895		$	(45,832	)

Comprehensive income (loss) includes foreign currency translation adjustments and pension liability adjustments.  Amounts reclassified out of accumulated comprehensive income (loss), net of tax, to operating expenses during fiscal 2014, 2013 and 2012 substantially all related to net periodic pension costs as discussed further in Note 10. 

Share repurchase program

In August 2012, the Company's Board of Directors amended the Company's existing share repurchase program to authorize the repurchase of up to $750.0 million of common stock in the open market or through privately negotiated transactions. The timing and actual number of shares repurchased will depend on a variety of factors such as price, corporate and regulatory requirements, and prevailing market conditions. During fiscal 2014, the Company repurchased 0.2 million shares under this program at an average market price of $41.46 per share for a total cost of $8.6 million. Repurchased shares were retired. Since the beginning of the repurchase program through the end of fiscal 2014, the Company has repurchased 18.1 million shares at an aggregate cost of $534.1 million, and $215.9 million remains available for future repurchases under the share repurchase program.

Common stock dividend

In May 2014, the Company's Board of Directors approved a dividend of $0.15 per common share to the shareholders of record on June 3, 2014. Dividend payments of $20.7 million were made in June 2014.

During fiscal 2014, the Company has paid dividends of $0.60 per common share and $82.8 million in total.