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DEBT (Tables) | 12 Months Ended
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Jun. 29, 2018
Debt Disclosure [Abstract] |
Schedule of Long-term Debt | Long-term debt is summarized below:
| 2018 |  | 2017
| (In millions)
Variable-rate debt: |  |  |
Term loan, 3-year tranche, due May 29, 2018 | $ | — |  |  | $ | 36 |
Term loan, 5-year tranche, due May 29, 2020 | — |  |  | 269 |
Floating rate notes, due February 27, 2019 | 300 |  |  | — |
Floating rate notes, due April 30, 2020 | 250 |  |  | — |
Total variable-rate debt | 550 |  |  | 305 |
Fixed-rate debt: |  |  |
1.999% notes, due April 27, 2018 | — |  |  | 500 |
2.7% notes, due April 27, 2020 | 400 |  |  | 400 |
4.4% notes, due December 15, 2020 | — |  |  | 400 |
5.55% notes, due October 1, 2021 | — |  |  | 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 |
4.400% notes, due June 15, 2028 | 850 |  |  | — |
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 | 3,190 |  |  | 3,640 |
Total debt | 3,740 |  |  | 3,945 |
Plus: unamortized bond premium | — |  |  | 29 |
Less: unamortized discounts and issuance costs | (28 | ) |  | (24 | )
Total debt, net | 3,712 |  |  | 3,950 |
Less: current portion of long-term debt, net | (304 | ) |  | (554 | )
Total long-term debt, net | $ | 3,408 |  |  | $ | 3,396 |
Schedule of Carrying Amounts and Estimated Fair Values of Long-term Debt | The following table presents the carrying amounts and estimated fair values of our long-term debt:
|  | June 29, 2018 |  | June 30, 2017
|  | Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
|  | (In millions)
Long-term debt (including current portion)(1) | $ | 3,712 |  |  | $ | 3,848 |  |  | $ | 3,950 |  |  | $ | 4,252 |
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(1) | The fair value was estimated using a market approach based on quoted market prices for our debt traded in the secondary market. If our long-term debt in our balance sheet were measured at fair value, it would be categorized in Level 2 of the fair value hierarchy.

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