Income Taxes (Tables)

12 Months Ended

Jun. 28, 2014

Income Taxes [Abstract]

Earnings before income taxes by jurisdiction table

	2014		2013		2012
		(In thousands)
U.S.	$	1,287,371	$	1,351,947	$	1,606,928
Foreign		188,253		195,508		177,074
Total	$	1,475,624	$	1,547,455	$	1,784,002

Income tax provision by jurisdiction table

	2014		2013		2012
	(In thousands)
U.S. federal income taxes	$	433,795	$	439,667	$	540,861
State and local income taxes		55,736		69,759		77,064
Foreign income taxes		54,560		45,602		44,492
Total	$	544,091	$	555,028	$	662,417

Income tax provision by component table

	2014		2013		2012
		(In thousands)
Current	$	574,760	$	582,889	$	840,745
Deferred		(30,669)		(27,861)		(178,328)
Total	$	544,091	$	555,028	$	662,417

Components of deferred tax assets and liabilities table

	June 28, 2014		June 29, 2013
	(In thousands)
Deferred tax liabilities:
Excess tax depreciation and basis differences of assets	$	416,417	$	455,752
Goodwill and intangible assets		211,434		208,229
Other		15,171		18,127
Total deferred tax liabilities		643,022		682,108
Deferred tax assets:
Net operating tax loss carryforwards		20,123		19,149
Benefit on unrecognized tax benefits		22,170		23,833
Pension		287,046		224,990
Share-based compensation		41,262		39,316
Deferred compensation		33,280		34,951
Self-insured liabilities		65,002		47,538
Receivables		47,688		48,236
Inventory		62,799		63,509
Cash flow hedge		56,826		5,815
Other		26,471		44,760
Total deferred tax assets		662,667		552,097
Total net deferred tax (assets) liabilities	$	(19,645)	$	130,011

Tax rate reconciliation table

	2014		2013		2012
U.S. statutory federal income tax rate	35.00	%	35.00	%	35.00	%
State and local income taxes, net of any applicable federal income tax benefit	2.82		2.59		2.65
Foreign income taxes	(1.66)		(1.22)		(1.07)
Other	0.71		(0.50)		0.55
	36.87	%	35.87	%	37.13	%

Reconciliation of unrecognized tax benefits table

	2014		2013
		(In thousands)
Unrecognized tax benefits at beginning of year	$	108,337	$	103,988
Additions for tax positions related to prior years		2,128		15,431
Reductions for tax positions related to prior years		(41,802)		(2,030)
Additions for tax positions related to the current year		-		-
Reductions for tax positions related to the current year		-		-
Reductions due to settlements with taxing authorities		(19,483)		(9,052)
Reductions due to lapse of applicable statute of limitations		-		-
Unrecognized tax benefits at end of year	$	49,180	$	108,337