SUMMARY OF ACCOUNTING POLICIES (Tables)

12 Months Ended

Jul. 02, 2022

Accounting Policies [Abstract]

Schedule of cash and cash equivalents

The following table sets forth the company’s reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Statement of Cash Flows that sum to the total of the same such amounts shown in the Consolidated Balance Sheets:

	Jul. 2, 2022		Jul. 3, 2021		Jun. 27, 2020
	(In thousands)
Cash and cash equivalents	$	867,086	$	3,007,123	$	6,059,427
Restricted cash (1)	64,290		29,977		36,143
Total cash, cash equivalents and restricted cash shown in the Consolidated Statement of Cash Flows	$	931,376	$	3,037,100	$	6,095,570

(1) Restricted cash primarily represents cash and cash equivalents of the Captive, restricted for use to secure the insurer’s obligations for workers’ compensation, general liability and auto liability programs. Restricted cash is located within Other assets in each consolidated balance sheet.

Schedule of restrictions on cash and cash equivalents

The following table sets forth the company’s reconciliation of cash, cash equivalents and restricted cash reported within the Consolidated Statement of Cash Flows that sum to the total of the same such amounts shown in the Consolidated Balance Sheets:

	Jul. 2, 2022		Jul. 3, 2021		Jun. 27, 2020
	(In thousands)
Cash and cash equivalents	$	867,086	$	3,007,123	$	6,059,427
Restricted cash (1)	64,290		29,977		36,143
Total cash, cash equivalents and restricted cash shown in the Consolidated Statement of Cash Flows	$	931,376	$	3,037,100	$	6,095,570

(1) Restricted cash primarily represents cash and cash equivalents of the Captive, restricted for use to secure the insurer’s obligations for workers’ compensation, general liability and auto liability programs. Restricted cash is located within Other assets in each consolidated balance sheet.