XML 41 R23.htm IDEA: XBRL DOCUMENT
v3.10.0.1

OTHER COMPREHENSIVE INCOME | 12 Months Ended
--- | ---
Jun. 30, 2018
Other Comprehensive Income (Loss), Net of Tax [Abstract] |
OTHER COMPREHENSIVE INCOME | OTHER COMPREHENSIVE INCOME Comprehensive income is net earnings plus certain other items that are recorded directly to shareholders’ equity, such as foreign currency translation adjustment, amounts related to cash flow hedging arrangements and certain amounts related to pension and other postretirement plans. Comprehensive income was $1.5 billion, $1.2 billion and $514.7 million for fiscal 2018, 2017 and 2016, respectively. A summary of the components of other comprehensive income (loss) and the related tax effects for each of the periods presented is as follows:
|  |  | 2018
| Location of Expense (Income) Recognized in Net Earnings |  | Before Tax Amount |  | Tax |  | Net of Tax Amount
|  |  | (In thousands)
Pension and other postretirement benefit plans: |  |  |  |  |  |  |  |  |  |
Other comprehensive income before reclassification adjustments: |  |  |  |  |  |  |
Net actuarial gain (loss), arising in the current year |  | $ | 69,476 |  |  | $ | 16,965 |  |  | $ | 52,511 |
Reclassification adjustments: |  |  |  |  |  |  |  |  |  |
Amortization of prior service cost | Operating expenses |  | 9,636 |  |  | 2,731 |  |  | 6,905 |
Amortization of actuarial loss (gain), net | Operating expenses |  | 35,044 |  |  | 9,934 |  |  | 25,110 |
Total reclassification adjustments |  | 44,680 |  |  | 12,665 |  |  | 32,015 |
Foreign currency translation: |  |  |  |  |  |  |
Foreign currency translation adjustment | N/A |  | (22,987 | ) |  | — |  |  | (22,987 | )
Hedging instruments: |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassification adjustments: |  |  |  |  |  |  |
Change in cash flow hedges | Operating expenses (1) |  | 23,872 |  |  | 9,529 |  |  | 14,343 |
Change in net investment hedges | N/A |  | (2,443 | ) |  | (8,234 | ) |  | 5,791 |
Total other comprehensive income (loss) before reclassification adjustments |  |  | 21,429 |  |  | 1,295 |  |  | 20,134 |
Reclassification adjustments: |  |  |  |  |  |  |
Amortization of cash flow hedges | Interest expense |  | 11,499 |  |  | 3,259 |  |  | 8,240 |
Total other comprehensive income (loss) |  | $ | 124,097 |  |  | $ | 34,184 |  |  | $ | 89,913 |
(1) | Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges.
|  |  | 2017
| Location of Expense (Income) Recognized in Net Earnings |  | Before Tax Amount |  | Tax |  | Net of Tax Amount
|  |  | (In thousands)
Pension and other postretirement benefit plans: |  |  |  |  |  |  |  |  |  |
Other comprehensive income before reclassification adjustments: |  |  |  |  |  |  |
Net actuarial (loss) gain, net arising in the current year |  |  | $ | 168,498 |  |  | $ | 71,215 |  |  | $ | 97,283 |
Reclassification adjustments: |  |  |  |  |  |  |  |  |  |
Amortization of prior service cost | Operating expenses |  | 11,370 |  |  | 4,366 |  |  | 7,004 |
Amortization of actuarial loss (gain), net | Operating expenses |  | 41,689 |  |  | 15,724 |  |  | 25,965 |
Total reclassification adjustments |  | 53,059 |  |  | 20,090 |  |  | 32,969 |
Foreign currency translation: |  |  |  |  |  |  |
Foreign currency translation adjustment | N/A |  | (11,243 | ) |  | — |  |  | (11,243 | )
Hedging instruments: |  |  |  |  |  |  |
Other comprehensive income (loss) before reclassification adjustments: |  |  |  |  |  |  |  |  |  |
Change in cash flow hedges | Operating expenses (1) |  | (10,871 | ) |  | (4,173 | ) |  | (6,698 | )
Change in net investment hedges | N/A |  | (34,152 | ) |  | (10,140 | ) |  | (24,012 | )
Total other comprehensive income (loss) before reclassification adjustments |  |  | (45,023 | ) |  | (14,313 | ) |  | (30,710 | )
Reclassification adjustments: |  |  |  |  |  |  |
Amortization of cash flow hedges | Interest expense |  | 11,495 |  |  | 4,413 |  |  | 7,082 |
Total other comprehensive income (loss) |  | $ | 176,786 |  |  | $ | 81,405 |  |  | $ | 95,381 |
(1) | Amount partially impacts operating expense for fuel swaps accounted for as cash flow hedges.
|  |  | 2016
| Location of Expense (Income) Recognized in Net Earnings |  | Before Tax Amount |  | Tax |  | Net of Tax Amount
|  |  | (In thousands)
Pension and other postretirement benefit plans: |  |  |  |  |  |  |
Other comprehensive income before reclassification adjustments |  |  |  |  |  |  |
Net actuarial (loss) gain, net arising in the current year |  | $ | (681,034 | ) |  | $ | (261,517 | ) |  | $ | (419,517 | )
Reclassification adjustments: |  |  |  |  |  |  |
Amortization of prior service cost | Operating expenses |  | 11,351 |  |  | 4,359 |  |  | 6,992 |
Amortization of actuarial loss (gain), net | Operating expenses |  | 21,677 |  |  | 8,325 |  |  | 13,352 |
Total reclassification adjustments |  | 33,028 |  |  | 12,684 |  |  | 20,344 |
Foreign currency translation: |  |  |  |  |  |  |
Foreign currency translation adjustment | N/A |  | (39,080 | ) |  | — |  |  | (39,080 | )
Interest rate swaps: |  |  |  |  |  |  |
Other comprehensive income before reclassification adjustments: |  |  |  |  |  |  |
Change in cash flow hedges |  |  | (6,134 | ) |  | (2,355 | ) |  | (3,779 | )
Reclassification adjustments: |  |  |  |  |  |  |
Amortization of cash flow hedges | Interest expense |  | 11,543 |  |  | 4,432 |  |  | 7,111 |
Total other comprehensive loss |  | $ | (681,677 | ) |  | $ | (246,756 | ) |  | $ | (434,921 | )
The following tables provide a summary of the changes in accumulated other comprehensive (loss) income (AOCI) for the periods presented:
| Pension and Other Postretirement Benefit Plans, net of tax |  | Foreign Currency Translation |  | Hedging, net of tax |  | Total
| (In thousands)
Balance as of Jun. 27, 2015 | $ | (705,311 | ) |  | $ | (97,733 | ) |  | $ | (120,153 | ) |  | $ | (923,197 | )
Other comprehensive income before reclassification adjustments | (419,517 | ) |  | (39,080 | ) |  | (3,779 | ) |  | (462,376 | )
Amounts reclassified from accumulated other comprehensive loss | 20,344 |  |  | — |  |  | 7,111 |  |  | 27,455 |
Balance as of Jul. 2, 2016 | (1,104,484 | ) |  | (136,813 | ) |  | (116,821 | ) |  | (1,358,118 | )
Other comprehensive income before reclassification adjustments | 97,283 |  |  | (11,243 | ) |  | (30,710 | ) |  | 55,330 |
Amounts reclassified from accumulated other comprehensive loss | 32,969 |  |  | — |  |  | 7,082 |  |  | 40,051 |
Balance as of Jul. 1, 2017 | (974,232 | ) |  | (148,056 | ) |  | (140,449 | ) |  | (1,262,737 | )
Other comprehensive income before reclassification adjustments | 52,511 |  |  | (22,987 | ) |  | 20,134 |  |  | 49,658 |
Amounts reclassified from accumulated other comprehensive loss | 32,015 |  |  | — |  |  | 8,240 |  |  | 40,255 |
Amounts reclassified to retained earnings (1) | (205,353 | ) |  | — |  |  | (31,092 | ) |  | (236,445 | )
Balance as of Jun. 30, 2018 | $ | (1,095,059 | ) |  | $ | (171,043 | ) |  | $ | (143,167 | ) |  | $ | (1,409,269 | )
(1) | Deferred taxes stranded in AOCI as a result of the Tax Act were reclassified to retained earnings as a result of early adopting ASU 2018-02.

X
- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 + Details
Name: | us-gaap_ComprehensiveIncomeNoteTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecreaseAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration