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LONG-TERM DEBT AND OTHER BORROWINGS (Tables) | 9 Months Ended
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Mar. 31, 2019
Debt Disclosure [Abstract] |
Schedule of Outstanding Debt | As of March 31, 2019, and June 24, 2018, the Company’s outstanding debt consisted of the following:
| March 31, 2019 |  | June 24, 2018 |
| Amount (in thousands) |  | Effective Interest Rate |  | Amount (in thousands) |  | Effective Interest Rate |
Fixed-rate 2.75% Senior Notes Due March 15, 2020 ("2020 Notes") | $ | 500,000 |  |  | 2.88 | % |  | $ | 500,000 |  |  | 2.88 | % |
Fixed-rate 2.80% Senior Notes Due June 15, 2021 ("2021 Notes") | 800,000 |  |  | 2.95 | % |  | 800,000 |  |  | 2.95 | % |
Fixed-rate 3.80% Senior Notes Due March 15, 2025 ("2025 Notes") | 500,000 |  |  | 3.87 | % |  | 500,000 |  |  | 3.87 | % |
Fixed-rate 3.75% Senior Notes Due March 15, 2026 ("2026 Notes") | 750,000 |  |  | 3.86 | % |  | — |  |  | — |  |
Fixed-rate 4.00% Senior Notes Due March 15, 2029 ("2029 Notes") | 1,000,000 |  |  | 4.09 | % |  | — |  |  | — |  |
Fixed-rate 2.625% Convertible Notes Due May 15, 2041 ("2041 Notes") | 212,352 |  | (1) | 4.28 | % |  | 326,953 |  | (1) | 4.28 | % |
Fixed-rate 4.875% Senior Notes Due March 15, 2049 ("2049 Notes") | 750,000 |  |  | 4.93 | % |  | — |  |  | — |  |
Commercial paper | 300,000 |  |  | 3.00 | % | (2) | 360,000 |  |  | 2.33 | % | (2)
Total debt outstanding, at par | 4,812,352 |  |  |  |  | 2,486,953 |  |  |  |
Unamortized discount | (74,987 | ) |  |  |  | (85,196 | ) |  |  |
Fair value adjustment - interest rate contracts | (14,917 | ) |  |  |  | (31,189 | ) |  |  |
Unamortized bond issuance costs | (5,993 | ) |  |  |  | (1,820 | ) |  |  |
Total debt outstanding, at carrying value | $ | 4,716,455 |  |  |  |  | $ | 2,368,748 |  |  |  |
Reported as: |  |  |  |  |  |  |  |
Current portion of long-term debt, and commercial paper | $ | 961,154 |  |  |  |  | $ | 608,532 |  |  |  |
Long-term debt | 3,755,301 |  |  |  |  | 1,760,216 |  |  |  |
Total debt outstanding, at carrying value | $ | 4,716,455 |  |  |  |  | $ | 2,368,748 |  |  |  |
____________________________ (1) As of the report date, these notes were convertible at the option of the bondholder. This is a result of the following condition being met: the market value of the Company’s Common Stock was greater than 130% of the convertible notes conversion price for 20 or more of the 30 consecutive trading days preceding the quarter-end. As a result, the 2041 Notes were classified in current liabilities and a portion of the equity component, associated with the convertible notes representing the unamortized discount, was classified in temporary equity on the Company’s Consolidated Balance Sheets. Upon closure of the conversion period, the notes not converted will be reclassified back into noncurrent liabilities and the temporary equity will be reclassified into permanent equity. (2) Represents the weighted average effective interest rate for all outstanding balances as of the report date.
Components of Convertible Notes | Selected additional information regarding the 2041 Notes outstanding as of March 31, 2019, and June 24, 2018, is as follows:
| March 31, 2019 |  | June 24, 2018
| 2041 Notes |  | 2041 Notes
| (in thousands, except years, percentages, conversion rate, and conversion price)
Carrying amount of permanent equity component, net of tax | $ | 160,261 |  |  | $ | 159,120 |
Carrying amount of temporary equity component, net of tax | $ | 49,783 |  |  | $ | 78,192 |
Remaining amortization period (years) | 22.1 |  |  | 22.9 |
Fair Value of Notes (Level 2) | $ | 1,166,900 |  |  |
Conversion rate (shares of common stock per $1,000 principal amount of notes) | 30.7418 |  |  |
Conversion price (per share of common stock) | $ | 32.53 |  |  |
If-converted value in excess of par value | $ | 956,238 |  |  |
Estimated share dilution using average quarterly stock price $164.19 per share | 5,235 |  |  |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | Selected additional information regarding the Senior Notes outstanding as of March 31, 2019, is as follows:
| Remaining Amortization period |  | Fair Value of Notes (Level 2)
| (years) |  | (in thousands)
2020 Notes | 1.0 |  | $ | 499,720 |
2021 Notes | 2.2 |  | $ | 798,880 |
2025 Notes | 6.0 |  | $ | 515,335 |
2026 Notes | 7.0 |  | $ | 764,295 |
2029 Notes | 10.0 |  | $ | 1,021,010 |
2049 Notes | 30.0 |  | $ | 791,888 |
Schedule of Recognized Interest Cost Relating to Both Contractual Interest Coupon and Amortization of Discount on Liability Component of Notes | The following table presents the amount of interest cost recognized relating to both the contractual interest coupon and amortization of the debt discount, issuance costs, and effective portion of interest rate contracts with respect to the Senior Notes, convertible notes, the term loan agreement, commercial paper, and the revolving credit facility during the three and nine months ended March 31, 2019 and March 25, 2018.
| Three Months Ended |  | Nine Months Ended
| March 31, 2019 |  | March 25, 2018 |  | March 31, 2019 |  | March 25, 2018
| (in thousands)
Contractual interest coupon | $ | 24,837 |  |  | $ | 20,663 |  |  | $ | 58,814 |  |  | $ | 57,246 |
Amortization of interest discount | 956 |  |  | 2,860 |  |  | 2,743 |  |  | 10,374 |
Amortization of issuance costs | 355 |  |  | 561 |  |  | 1,013 |  |  | 1,590 |
Effect of interest rate contracts, net | 1,558 |  |  | 51 |  |  | 3,088 |  |  | (552 | )
Total interest cost recognized | $ | 27,706 |  |  | $ | 24,135 |  |  | $ | 65,658 |  |  | $ | 68,658 |

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- Definition Tabular disclosure of borrowings which can be exchanged for a specified number of another security at the option of the issuer or the holder. Disclosures include, but are not limited to, principal amount, amortized premium or discount, and amount of liability and equity components. + References No definition available. + Details
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