EQUITY-BASED COMPENSATION PLANS (Tables)

3 Months Ended

Sep. 28, 2014

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
	September 28, 2014		September 29, 2013
	(in millions)
Equity-based compensation expense	$	32.0	$	23.2
Income tax benefit related to equity-based compensation expense	$	4.7	$	3.9

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		—		$	—		67,439		$	65.92
Exercised		(165,696	)	$	27.81		N/A			N/A
Cancelled		(7,452	)	$	29.86		(57,295	)	$	44.54
Vested restricted stock		N/A			N/A		(387,148	)	$	41.90

September 28, 2014		1,158,738		$	32.84		5,258,465		$	46.39

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 months ended September 28, 2014 and September 29, 2013:


	Three Months Ended
	September 28, 2014			September 29, 2013
Expected term (years)		0.68			0.66
Expected stock price volatility		29.07	%		31.43	%
Risk-free interest rate		0.07	%		0.11	%
Dividend Yield		0.29	%		—