XML 41 R31.htm IDEA: XBRL DOCUMENT
v3.24.0.1

DEBT (Tables) | 6 Months Ended
--- | ---
Dec. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Debt | The following table summarizes the components of the Company’s outstanding debt:
| December 30, 2023 |  | July 1, 2023
| (millions)
Current debt: |  |  |
Term Loan due 2027 | $ | 25.0 |  |  | $ | 25.0 |
Total current debt | $ | 25.0 |  |  | $ | 25.0 |
Long-term debt: |  |  |
Term Loan due 2027 | $ | 431.3 |  |  | $ | 443.8 |
USD Senior Notes: |  |  |
4.250% Senior Notes due 2025 | 303.4 |  |  | 303.4 |
7.050% Senior Notes due 2025 | 500.0 |  |  | — |
7.000% Senior Notes due 2026 | 750.0 |  |  | — |
4.125% Senior Notes due 2027 | 396.6 |  |  | 396.6 |
7.350% Senior Notes due 2028 | 1,000.0 |  |  | — |
7.700% Senior Notes due 2030 | 1,000.0 |  |  | — |
3.050% Senior Notes due 2032 | 500.0 |  |  | 500.0 |
7.850% Senior Notes due 2033 | 1,250.0 |  |  | — |
EUR Senior Notes: |  |  |
5.350% EUR Senior Notes due 2025(1) | 552.1 |  |  | — |
5.375% EUR Senior Notes due 2027(1) | 552.1 |  |  | — |
5.875% EUR Senior Notes due 2031(1) | 552.1 |  |  | — |
Total long-term debt | 7,787.6 |  |  | 1,643.8 |
Less: Unamortized discount and debt issuance costs on Senior Notes | (73.2) |  |  | (8.0) |
Total long-term debt, net | $ | 7,714.4 |  |  | $ | 1,635.8 |
(1)The carrying amounts of the Capri Acquisition EUR Senior Notes (as defined below) include the impact of changes in the exchange rate of the United States Dollar against the Euro.
Schedule of Estimated Fair Values of Debt Instruments | The following table shows the estimated fair values of the senior unsecured notes at December 30, 2023 and July 1, 2023 based on external pricing data, including available quoted market prices of the instruments, and consideration of comparable debt instruments with similar interest rates and trading frequency, among other factors, and is classified as Level 2 measurements within the fair value hierarchy:
| December 30, 2023 |  | July 1, 2023
| (millions)
USD Senior Notes: |  |  |
4.250% Senior Notes due 2025 | 299.7 |  |  | 295.1 |
7.050% Senior Notes due 2025 | 511.8 |  |  | — |
7.000% Senior Notes due 2026 | 777.9 |  |  | — |
4.125% Senior Notes due 2027 | 378.5 |  |  | 371.7 |
7.350% Senior Notes due 2028 | 1,049.8 |  |  | — |
7.700% Senior Notes due 2030 | 1,055.1 |  |  | — |
3.050% Senior Notes due 2032 | 407.5 |  |  | 399.5 |
7.850% Senior Notes due 2033 | 1,337.1 |  |  | — |
EUR Senior Notes: |  |  |
5.350% EUR Senior Notes due 2025(1) | 563.5 |  |  | — |
5.375% EUR Senior Notes due 2027(1) | 571.8 |  |  | — |
5.875% EUR Senior Notes due 2031(1) | 580.6 |  |  | — |
(1)The fair values of the Capri Acquisition EUR Senior Notes include the impact of changes in the exchange rate of the United States Dollar against the Euro.

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

X
- Definition Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration