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SHARE-BASED COMPENSATION (Tables) | 12 Months Ended
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Jul. 01, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
Schedule of Black-Scholes Option Model Assumption | The weighted average assumptions discussed above are noted in the table below for relevant periods as follows:
| 2023 |  | 2022 |  | 2021
Dividend yield | 2.4 | % |  | 2.5 | % |  | 2.7 | %
Expected volatility | 32.6 | % |  | 30.1 | % |  | 32.1 | %
Risk-free interest rate | 3.0 | % |  | 1.0 | % |  | 0.5 | %
Expected Life | 6.6 years |  | 6.6 years |  | 7.0 years
Schedule of Option Roll Forward and Other Disclosures | The following summary presents information regarding outstanding options as of July 1, 2023 and changes during the fiscal year then ended with regard to options under all stock incentive plans:
| Shares Under Option |  | Weighted Average Exercise Price Per Share |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding as of July 2, 2022 | 9,634,493 |  |  | $ | 62.74 |  |  |  |  |
Granted | 954,249 |  |  | 84.97 |  |  |  |  |
Exercised | 570,578 |  |  | 54.80 |  |  |  |  |
Forfeited | 267,981 |  |  | 75.03 |  |  |  |  |
Expired | — |  |  | — |  |  |  |  |
Outstanding as of July 1, 2023 | 9,750,183 |  |  | $ | 65.05 |  |  | 5.71 |  | $ | 104,397 |
Expected to vest as of July 1, 2023 | 2,036,563 |  |  | $ | 75.56 |  |  | 8.32 |  | $ | 8,142 |
Exercisable as of July 1, 2023 | 7,644,880 |  |  | $ | 62.10 |  |  | 4.99 |  | $ | 96,209 |
Schedule of Non-Vested Awards | The following summary presents information regarding outstanding non-vested awards as of July 1, 2023 and changes during the fiscal year then ended with regard to these awards under the stock incentive plans. Award types represented include restricted stock units granted to employees, restricted awards granted to non-employee directors and PSUs.
| Shares |  | Weighted Average Grant Date Fair Value Per Share
Non-vested as of July 2, 2022 | 3,065,295 |  |  | $ | 69.10 |
Granted | 1,514,501 |  |  | 79.26 |
Vested | (1,863,721) |  |  | 59.59 |
Forfeited | (262,171) |  |  | 74.25 |
Non-vested as of July 1, 2023 | 2,453,904 |  |  | $ | 82.05 |

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- Definition Tabular disclosure of the changes in outstanding nonvested shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the change in stock options. + References No definition available. + Details
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