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EARNINGS PER SHARE | 12 Months Ended
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Jul. 01, 2017
Earnings Per Share, Basic [Abstract] |
EARNINGS PER SHARE | EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share:
| 2017 |  | 2016 |  | 2015
| (In thousands, except for share and per share data)
Numerator: |  |  |  |  |
Net earnings | $ | 1,142,503 |  |  | $ | 949,622 |  |  | $ | 686,773 |
Denominator: |  |  |  |  |  |  |
Weighted-average basic shares outstanding | 543,496,816 |  |  | 573,057,406 |  |  | 592,072,308 |
Dilutive effect of share-based awards | 5,048,211 |  |  | 4,334,000 |  |  | 4,776,726 |
Weighted-average diluted shares outstanding | 548,545,027 |  |  | 577,391,406 |  |  | 596,849,034 |
Basic earnings per share | $ | 2.10 |  |  | $ | 1.66 |  |  | $ | 1.16 |
Diluted earnings per share | $ | 2.08 |  |  | $ | 1.64 |  |  | $ | 1.15 |
The number of options that were not included in the diluted earnings per share calculation because the effect would have been anti-dilutive was approximately 4,194,173, 3,586,927 and 2,400,000 for fiscal 2017, 2016 and 2015, respectively. Dividends declared were $700.9 million, $695.5 million and $705.5 million in fiscal 2017, 2016 and 2015, respectively. Included in dividends declared for each year were dividends declared but not yet paid at year-end of approximately $174.9 million, $174.1 million and $178.3 million in fiscal 2017, 2016 and 2015, respectively.

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 + Details
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