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Other Expense, Net | 12 Months Ended
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Jun. 28, 2020
Other Income and Expenses [Abstract] |
Other Expense, Net | Other Expense, Net The significant components of other expense, net, were as follows:
| Year Ended
June 28, 2020 |  | June 30, 2019 |  | June 24, 2018
| (in thousands)
Interest income | $ | 85,433 |  |  | $ | 98,771 |  |  | $ | 85,813 |
Interest expense | (177,440 | ) |  | (117,263 | ) |  | (97,387 | )
Gains on deferred compensation plan related assets, net | 5,999 |  |  | 10,464 |  |  | 14,692 |
Loss on impairment of investments | — |  |  | — |  |  | (42,456 | )
Foreign exchange (losses) gains, net | (3,317 | ) |  | 826 |  |  | (3,382 | )
Other, net | (9,499 | ) |  | (10,959 | ) |  | (18,790 | )
| $ | (98,824 | ) |  | $ | (18,161 | ) |  | $ | (61,510 | )
Interest income in the year ended June 28, 2020, decreased compared to the year ended June 30, 2019, as a result of lower yield, offset by a higher cash balance. Interest income increased in the year ended June 30, 2019, compared to the year ended June 24, 2018, as a result of a higher yield, offset by a lower cash balance. Interest expense in the year ended June 28, 2020, increased compared to the year ended June 30, 2019, primarily due to the full year impact of the issuance of the $2.5 billion of senior notes that occurred in fiscal year 2019 and issuance of the $2.0 billion senior notes in fiscal year 2020. The increase in interest expense in the year ended June 30, 2019, compared to the year ended June 24, 2018, was also due to the issuance of the $2.5 billion of senior notes in fiscal year 2019, offset by conversions of the 2041 Convertible Notes and the retirement of the 2018 Convertible Notes in May 2018. The gains on deferred compensation plan related assets in the years presented were driven by an improvement in the fair market value of the underlying funds. The loss on impairment of investments in the year ended June 24, 2018 was the result of a decision to sell selected investments held in foreign jurisdictions in connection with the Company’s cash repatriation strategy following the December 2017 U.S. tax reform.

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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 720 -URI http://asc.fasb.org/topic&trid=2122503 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 610 -URI http://asc.fasb.org/topic&trid=49130413 + Details
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