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Long-Term Debt | 6 Months Ended
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Dec. 29, 2017
Debt Disclosure [Abstract] |
Long-Term Debt | Long-Term Debt Long-term debt is summarized below:
| December 29, 2017 |  | June 30, 2017
| (In millions)
Variable-rate debt: |  |  |
Term loan, 3-year tranche, due May 29, 2018 | $ | 20 |  |  | $ | 36 |
Term loan, 5-year tranche, due May 29, 2020 | — |  |  | 269 |
Floating rate notes, due April 30, 2020 | 250 |  |  | — |
Total variable-rate debt | 270 |  |  | 305 |
Fixed-rate debt: |  |  |
1.999% notes, due April 27, 2018 | 500 |  |  | 500 |
2.7% notes, due April 27, 2020 | 400 |  |  | 400 |
4.4% notes, due December 15, 2020 | 400 |  |  | 400 |
5.55% notes, due October 1, 2021 | 400 |  |  | 400 |
3.832% notes, due April 27, 2025 | 600 |  |  | 600 |
7.0% debentures, due January 15, 2026 | 100 |  |  | 100 |
6.35% debentures, due February 1, 2028 | 26 |  |  | 26 |
4.854% notes, due April 27, 2035 | 400 |  |  | 400 |
6.15% notes, due December 15, 2040 | 300 |  |  | 300 |
5.054% notes, due April 27, 2045 | 500 |  |  | 500 |
Other | 14 |  |  | 14 |
Total fixed-rate debt | 3,640 |  |  | 3,640 |
Total debt | 3,910 |  |  | 3,945 |
Plus: unamortized bond premium | 27 |  |  | 29 |
Less: unamortized discounts and issuance costs | (23 | ) |  | (24 | )
Total debt, net | 3,914 |  |  | 3,950 |
Less: current portion of long-term debt | (523 | ) |  | (554 | )
Total long-term debt, net | $ | 3,391 |  |  | $ | 3,396 |
On November 6, 2017, we completed the issuance and sale of $250 million in aggregate principal amount of floating rate notes due April 30, 2020 (“Floating Rate Notes”). We incurred $2 million of debt issuance costs related to the issuance of the Floating Rate Notes, which are being amortized using the effective interest rate method over the life of the Floating Rate Notes, and such amortization is reflected as a portion of interest expense in our Condensed Consolidated Statement of Income (Unaudited). The Floating Rate Notes will bear interest at a floating rate, reset quarterly, equal to three-month LIBOR plus 0.48% per year. Interest is payable quarterly in arrears on January 30, April 30, July 30 and October 30 of each year, commencing January 30, 2018. The Floating Rate Notes are not redeemable at our option prior to maturity. Upon a change of control combined with a below-investment-grade rating event, we may be required to make an offer to repurchase the Floating Rate Notes at a price equal to 101 percent of the aggregate principal amount of the Floating Rate Notes being repurchased, plus accrued interest on the Floating Rate Notes being repurchased to, but not including, the date of repurchase. In connection with the closing of the sale of the Floating Rate Notes, we used the net proceeds, together with cash on hand, to repay in full the $253 million in remaining outstanding indebtedness under the 5-year tranche of our $1.3 billion senior unsecured term loan facility pursuant to our Term Loan Agreement, dated as of March 16, 2015, and recognized a $1 million extinguishment loss, which is included as a component of the “Non-operating income (loss)” line item in our Condensed Consolidated Statement of Income (Unaudited), as a result of associated unamortized debt issuance costs. For additional information on our long-term debt, see Note 13: “Long-Term Debt” in the Notes to Consolidated Financial Statements in our Fiscal 2017 Form 10-K.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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