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STOCK OPTIONS AND OTHER SHARE-BASED COMPENSATION (Tables) | 12 Months Ended
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Jun. 28, 2019
Share-based Payment Arrangement [Abstract] |
Schedule of Amounts and Classifications of Share-based Compensation | The following table summarizes the amounts and classification of share-based compensation expense:
| 2019 |  | 2018 |  | 2017
| (In millions)
Total expense | $ | 58 |  |  | $ | 51 |  |  | $ | 42 |
Included in: |  |  |  |  |
Cost of product sales and services | $ | 12 |  |  | $ | 8 |  |  | $ | 3 |
Engineering, selling and administrative expenses | 46 |  |  | 43 |  |  | 39 |
Income from continuing operations | 58 |  |  | 51 |  |  | 42 |
Tax effect on share-based compensation expense | (14 | ) |  | (16 | ) |  | (16 | )
Total share-based compensation expense after-tax | $ | 44 |  |  | $ | 35 |  |  | $ | 26 |
Schedule of Assumptions Used in Determining Fair Value of Stock Options | A summary of the significant assumptions used in determining the fair value of stock option grants under our SIPs is as follows:
| 2019 |  | 2018 |  | 2017
Expected dividends | 1.6 | % |  | 1.8 | % |  | 2.4 | %
Expected volatility | 19.9 | % |  | 19.3 | % |  | 21.8 | %
Risk-free interest rates | 2.7 | % |  | 1.8 | % |  | 1.2 | %
Expected term (years) | 5.03 |  |  | 5.00 |  |  | 5.03 |
Schedule of Stock Option Activity | A summary of stock option activity under our SIPs as of June 28, 2019 and changes during fiscal 2019 is as follows:
| Shares |  | Weighted Average Exercise Price Per Share |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value
|  |  |  |  | (In years) |  | (In millions)
Stock options outstanding June 29, 2018 | 4,698,370 |  |  | $ | 74.50 |  |  |  |  |
Stock options forfeited or expired | (37,059 | ) |  | $ | 111.47 |  |  |  |  |
Stock options granted | 270,963 |  |  | $ | 163.23 |  |  |  |  |
Stock options exercised | (737,073 | ) |  | $ | 69.07 |  |  |  |  |
Stock options outstanding June 28, 2019 | 4,195,201 |  |  | $ | 80.86 |  |  | 5.81 |  | $ | 454.20 |
Stock options exercisable June 28, 2019 | 3,338,448 |  |  | $ | 70.32 |  |  | 5.24 |  | $ | 396.63 |
Schedule of Nonvested Stock Options | A summary of the status of our nonvested stock options at June 28, 2019 and changes during fiscal 2019 is as follows:
| Shares |  | Weighted-Average Grant-Date Fair Value Per Share
Nonvested stock options June 29, 2018 | 1,613,401 |  |  | $ | 14.66 |
Stock options granted | 270,963 |  |  | $ | 30.05 |
Stock options vested | (1,027,611 | ) |  | $ | 14.04 |
Nonvested stock options June 28, 2019 | 856,753 |  |  | $ | 20.28 |
Schedule of Status of Restricted Stock Units | A summary of the status of these awards at June 28, 2019 and changes during fiscal 2019 is as follows:
| Shares or Units |  | Weighted-Average Grant Price Per Share or Unit
Restricted stock and restricted stock units outstanding at June 29, 2018 | 414,690 |  |  | $ | 127.70 |
Restricted stock and restricted stock units granted | 94,163 |  |  | $ | 160.05 |
Restricted stock and restricted stock units vested | (119,748 | ) |  | $ | 130.77 |
Restricted stock and restricted stock units forfeited | (23,107 | ) |  | $ | 142.86 |
Restricted stock and restricted stock units outstanding at June 28, 2019 | 365,998 |  |  | $ | 134.06 |
Schedule of Status of Performance Share Units | A summary of the status of these awards at June 28, 2019 and changes during fiscal 2019 is as follows:
| Shares or Units |  | Weighted-Average Grant Price Per Share or Unit
Performance share units outstanding at June 29, 2018 | 625,293 |  |  | $ | 98.11 |
Performance share units granted | 168,913 |  |  | $ | 155.12 |
Performance share units vested | (266,203 | ) |  | $ | 77.80 |
Performance share units forfeited | (18,254 | ) |  | $ | 124.83 |
Performance share units outstanding at June 28, 2019 | 509,749 |  |  | $ | 126.73 |

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