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STOCK REPURCHASE PROGRAM | 3 Months Ended
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Sep. 24, 2017
Equity [Abstract] |
STOCK REPURCHASE PROGRAM | STOCK REPURCHASE PROGRAM In November 2016, the Board of Directors authorized the repurchase of up to $1.0 billion of Common Stock. These repurchases can be conducted on the open market or as private purchases and may include the use of derivative contracts with large financial institutions, in all cases subject to compliance with applicable law. Repurchases are funded using the Company’s on-shore cash and on-shore cash generation. This repurchase program has no termination date and may be suspended or discontinued at any time. Repurchases under the repurchase program were as follows during the periods indicated:
Period | Total Number of Shares Repurchased |  | Total Cost of Repurchase |  | Average Price Paid Per Share (1) |  | Amount Available Under Repurchase Program
| (in thousands, except per share data)
Available balance as of June 25, 2017 |  |  |  |  |  |  | $ | 282,141 |
Quarter ended September 24, 2017 | 1,779 |  |  | $ | 157,938 |  |  | $ | 158.40 |  |  | $ | 124,203 |
(1) Average price paid per share excludes effect of accelerated share repurchases; see additional disclosure below regarding our accelerated share repurchase activity during the fiscal year. In addition to the shares repurchased under the Board-authorized repurchase program shown above, during the three months ended September 24, 2017, the Company acquired 11 thousand shares at a total cost of $1.8 million which the Company withheld through net settlements to cover minimum tax withholding obligations upon the vesting of restricted stock unit awards granted under the Company’s equity compensation plans. The shares retained by the Company through these net share settlements are not a part of the Board-authorized repurchase program but instead are authorized under the Company’s equity compensation plan. On April 19, 2017, the Company entered into two separate accelerated share repurchase agreements (collectively, the “ASR”) with two financial institutions to repurchase a total of $500 million of Common Stock. The Company took an initial delivery of approximately 2,570,000 shares, which represented 70% of the prepayment amount divided by the Company’s closing stock price on April 19, 2017. The total number of shares to be received under the ASR was based upon the average daily volume weighted average price of our Common Stock during the repurchase period, less an agreed upon discount. Following the fiscal year end, the counterparties designated June 30, 2017 as the termination date, at which time the Company settled the ASR. Approximately 780,000 shares were received at final settlement, which resulted in a weighted-average share price of approximately $149.16 for the transaction period.

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References No definition available. + Details
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