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STOCK REPURCHASE PROGRAM | 3 Months Ended
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Sep. 27, 2020
Equity [Abstract] |
STOCK REPURCHASE PROGRAM | STOCK REPURCHASE PROGRAM In November 2018, the Board of Directors authorized the Company to repurchase up to an additional $5.0 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. This repurchase program has no termination date and may be suspended or discontinued at any time. Funding for this repurchase program may be through a combination of cash on hand, cash generation, and borrowings. As of September 27, 2020, the Company has purchased approximately $3.7 billion of shares under this authorization, comprised of $1.2 billion of open market purchases and execution of $2.5 billion of accelerated share repurchase arrangements. 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 |  | Amount Available Under Repurchase Program
| (in thousands, except per share data) |  |  |  |  |  |
Available balance as of June 28, 2020 |  |  |  |  |  |  | $ | 1,773,427 |
Quarter ended September 27, 2020 | 1,344 |  |  | $ | 461,998 |  |  | $ | 343.73 |  |  | $ | 1,311,429 |
In addition to the shares repurchased under the Board-authorized repurchase program shown above, during the three months ended September 27, 2020, the Company acquired 15 thousand shares at a total cost of $5.1 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.

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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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=2208821 + Details
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