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Long Term Debt and Other Borrowings (Tables) | 12 Months Ended
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Jun. 25, 2023
Debt Disclosure [Abstract] |
Schedule of Outstanding Debt | As of June 25, 2023, and June 26, 2022, the Company’s outstanding debt consisted of the following:
| June 25, 2023 |  | June 26, 2022 |
| Amount (in thousands) |  | Effective Interest Rate |  | Amount (in thousands) |  | Effective Interest Rate |
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 | % |  | 750,000 |  |  | 3.86 | % |
Fixed-rate 4.00% Senior Notes Due March 15, 2029 ("2029 Notes") | 1,000,000 |  |  | 4.09 | % |  | 1,000,000 |  |  | 4.09 | % |
Fixed-rate 1.90% Senior Note Due June 15, 2030 ("2030 Notes") | 750,000 |  |  | 2.01 | % |  | 750,000 |  |  | 2.01 | % |
Fixed-rate 4.875% Senior Notes Due March 15, 2049 ("2049 Notes") | 750,000 |  |  | 4.93 | % |  | 750,000 |  |  | 4.93 | % |
Fixed-rate 2.875% Senior Note Due June 15, 2050 ("2050 Notes") | 750,000 |  |  | 2.93 | % |  | 750,000 |  |  | 2.93 | % |
Fixed-rate 3.125% Senior Note Due June 15, 2060 ("2060 Notes") | 500,000 |  |  | 3.18 | % |  | 500,000 |  |  | 3.18 | % |
Total Senior Notes outstanding, at par | 5,000,000 |  |  |  |  | 5,000,000 |  |  |  |
Unamortized discount | (32,934) |  |  |  |  | (35,549) |  |  |  |
Fair value adjustment - interest rate contracts | 3,050 |  | (1) |  |  | 4,835 |  | (1) |  |
Unamortized bond issuance costs | (6,189) |  |  |  |  | (6,827) |  |  |  |
Other financing arrangements | 1,438 |  |  |  |  | — |  |  |  |
Total debt outstanding, at carrying value | $ | 4,965,365 |  |  |  |  | $ | 4,962,459 |  |  |  |
Reported as: |  |  |  |  |  |  |  |
Current portion of long-term debt | $ | 421 |  |  |  |  | $ | — |  |  |  |
Long-term debt | $ | 4,964,944 |  |  |  |  | $ | 4,962,459 |  |  |  |
(1)This amount represents a cumulative fair value gain for discontinued hedging relationships, net of an immaterial amount of amortization as of the periods presented.
Schedule of Contractual Cash Obligations | The Company’s contractual cash obligations relating to its outstanding debt as of June 25, 2023, were as follows:
Payments Due by Fiscal Year: | Principal |  | Interest
| (in thousands)
2024 | $ | — |  |  | $ | 175,125 |
2025 | 500,000 |  |  | 169,425 |
2026 | 750,000 |  |  | 147,922 |
2027 | — |  |  | 128,000 |
2028 | — |  |  | 128,000 |
Thereafter | 3,750,000 |  |  | 1,786,213 |
Total | $ | 5,000,000 |  |  | $ | 2,534,685 |
Schedule of Additional Senior Notes Information | Selected additional information regarding the Senior Notes outstanding as of June 25, 2023, is as follows:
| Remaining Amortization period |  | Fair Value of Notes (Level 2)
| (years) |  | (in thousands)
2025 Notes | 1.7 |  | $ | 488,620 |
2026 Notes | 2.7 |  | $ | 730,725 |
2029 Notes | 5.7 |  | $ | 969,760 |
2030 Notes | 7.0 |  | $ | 624,825 |
2049 Notes | 25.7 |  | $ | 730,500 |
2050 Notes | 27.0 |  | $ | 525,233 |
2060 Notes | 37.0 |  | $ | 340,365 |
Schedule of Recognized Interest Cost | 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, and the revolving credit facility during the fiscal years ended June 25, 2023, June 26, 2022, and June 27, 2021.
| Year Ended
| June 25, 2023 |  | June 26, 2022 |  | June 27, 2021
| (in thousands)
Contractual interest coupon | $ | 175,128 |  |  | $ | 175,128 |  |  | $ | 197,367 |
Amortization of interest discount | 2,862 |  |  | 2,767 |  |  | 3,934 |
Amortization of issuance costs | 1,376 |  |  | 1,351 |  |  | 1,639 |
Effect of interest rate contracts, net | 2,545 |  |  | 2,455 |  |  | 2,070 |
Total interest cost recognized | $ | 181,911 |  |  | $ | 181,701 |  |  | $ | 205,010 |

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