Comprehensive Income

12 Months Ended

Jul. 02, 2011

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Comprehensive Income

14. COMPREHENSIVE INCOME

     Comprehensive income is net earnings plus certain other items that are recorded directly to shareholders' equity, such as foreign currency translation adjustments, amounts related to cash flow hedging arrangements and certain amounts related to pension and other postretirement plans. The amortization of the cash flow hedge noted in the tables below relates to a cash flow hedge of a forecasted debt issuance which was settled in September 2005 and is being amortized over the life of the related debt. Comprehensive income was $1,372.3 million, $977.7 million and $846.7 million in fiscal 2011, 2010 and 2009, respectively.

     A summary of the components of other comprehensive (loss) income and the related tax effects for each of the years presented is as follows:

	2011
	Before Tax						Net of Tax
	Amount			Tax			Amount
	(In thousands)
Foreign currency translation adjustment	$	122,217		$	—		$	122,217
Amortization of cash flow hedge		696			268			428
Amortization of prior service cost		4,145			1,592			2,553
Amortization of net actuarial loss (gain), net		79,564			30,551			49,013
Amortization of transition obligation		153			60			93
Prior service cost arising in current year		(9,239	)		(3,547	)		(5,692	)
Net actuarial (loss) gain, net arising in current year		83,898			32,217			51,681
Other comprehensive income	$	281,434		$	61,141		$	220,293

	2010
	(53 Weeks)
	Before Tax						Net of Tax
	Amount			Tax			Amount
				(In thousands)
Foreign currency translation adjustment	$	49,973		$	—		$	49,973
Amortization of cash flow hedge		695			267			428
Amortization of prior service cost		4,394			1,687			2,707
Amortization of net actuarial loss (gain), net		40,037			15,373			24,664
Amortization of transition obligation		153			60			93
Net actuarial (loss) gain, net arising in current year		(454,756	)		(174,626	)		(280,130	)
Other comprehensive loss	$	(359,504	)	$	(157,239	)	$	(202,265	)

	2009
	Before Tax						Net of Tax
	Amount			Tax			Amount
				(In thousands)
Foreign currency translation adjustment	$	(84,452	)	$	—		$	(84,452	)
Amortization of cash flow hedge		694			266			428
Amortization of prior service cost		3,923			1,505			2,418
Amortization of net actuarial loss (gain), net		17,571			6,747			10,824
Amortization of transition obligation		153			60			93
Pension liability assumption		(26,704	)		(10,254	)		(16,450	)
Prior service cost arising in current year		(575	)		(221	)		(354	)
Net actuarial (loss) gain, net arising in current year		(197,604	)		(75,879	)		(121,725	)
Other comprehensive loss	$	(286,994	)	$	(77,776	)	$	(209,218	)

     The following table provides a summary of the changes in accumulated other comprehensive (loss) income for the years presented:

	Pension and
	Other
	Postretirement						Interest Rate
	Benefit Plans,			Foreign Currency			Swap,
	net of tax			Translation			net of tax			Total
				(In thousands)
Balance as of June 28, 2008	$	(220,913	)	$	164,014		$	(11,869	)	$	(68,768	)
Foreign currency translation adjustment		—			(84,452	)		—			(84,452	)
Amortization of cash flow hedge		—			—			428			428
Amortization of prior service cost		2,418			—			—			2,418
Amortization of net actuarial loss (gain), net		10,824			—			—			10,824
Amortization of transition obligation		93			—			—			93
Pension liability assumption		(16,450	)		—			—			(16,450	)
Prior service cost arising in current year		(354	)		—			—			(354	)
Net actuarial (loss) gain, net arising in current year		(121,725	)		—			—			(121,725	)
Balance as of June 27, 2009		(346,107	)		79,562			(11,441	)		(277,986	)
Foreign currency translation adjustment		—			49,973			—			49,973
Amortization of cash flow hedge		—			—			428			428
Amortization of prior service cost		2,707			—			—			2,707
Amortization of net actuarial loss (gain), net		24,664			—			—			24,664
Amortization of transition obligation		93			—			—			93
Net actuarial (loss) gain, net arising in current year		(280,130	)		—			—			(280,130	)
Balance as of July 3, 2010		(598,773	)		129,535			(11,013	)		(480,251	)
Foreign currency translation adjustment		—			122,217			—			122,217
Amortization of cash flow hedge		—			—			428			428
Amortization of prior service cost		2,553			—			—			2,553
Amortization of net actuarial loss (gain), net		49,013			—			—			49,013
Amortization of transition obligation		93			—			—			93
Prior service cost arising in current year		(5,692	)		—			—			(5,692	)
Net actuarial (loss) gain, net arising in current year		51,681			—			—			51,681
Balance as of July 2, 2011	$	(501,125	)	$	251,752		$	(10,585	)	$	(259,958	)