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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 6 Months Ended
Dec. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
The following tables provide information related to the Company's derivative instruments recorded on the Company's Condensed Consolidated Balance Sheets as of December 30, 2023 and July 1, 2023:
Notional ValueDerivative AssetsDerivative Liabilities
Fair ValueFair Value
December 30, 2023July 1, 2023Consolidated Balance Sheet ClassificationDecember 30, 2023July 1, 2023Consolidated Balance Sheet ClassificationDecember 30, 2023July 1, 2023
(millions)
Designated hedge instruments:
FC - Inventory purchases(1)
$833.2 $842.3 Other Current Assets$28.1 $38.6 Accrued Liabilities$3.8 $0.1 
CCS - Net investment hedges(2)
1,200.0 1,200.0 Other Assets71.8 13.1 Other Liabilities154.6 90.5 
Total designated hedge instruments$2,033.2 $2,042.3 $99.9 $51.7 $158.4 $90.6 
Undesignated hedging instruments:
FC - Intercompany liabilities and loans(3)
241.1 272.3 Other Current Assets0.6 0.4 Accrued Liabilities— 0.2 
Total Hedges$2,274.3 $2,314.6 $100.5 $52.1 $158.4 $90.8 
(1)Represents forward foreign currency exchange contracts ("FC") designated as derivative instruments in cash flow hedging relationships.
(2)Represents cross currency swap contracts ("CCS") designated as derivative instruments in net investment hedging relationships.
(3)Represents forward foreign currency exchange contracts ("FC") not designated as hedges.
Hedging Activity Affected Accumulated Other Comprehensive Loss or Income Net of Tax
The following tables provides the pretax impact of gains and losses from the Company's designated derivative instruments on its Condensed Consolidated Financial Statements as of December 30, 2023 and December 31, 2022:
Amount of Gain (Loss) Recognized in OCI on Derivatives
Six Months Ended
December 30, 2023December 31, 2022
(millions)
Cash flow hedges:
Inventory purchases(1)
$4.8 $(17.0)
Interest rates(2)
(10.4)— 
Total cash flow hedges$(5.6)$(17.0)
Other:
Net investment hedges(3)
(5.9)(69.9)
Total other$(5.9)$(69.9)
Total hedges$(11.5)$(86.9)

Amount of Gain (Loss) Reclassified from Accumulated OCI into Income
Statement of Operations
Classification		Six Months Ended
December 30, 2023December 31, 2022
(millions)
Cash flow hedges:
Inventory purchases(1)
Cost of Sales$12.6 $(2.8)
Interest rates(2)
Other income (expense)(8.6)— 
Total hedges$4.0 $(2.8)

(1)Represents forward foreign currency exchange contracts ("FC") designated as derivative instruments in cash flow hedging relationships.
(2)Represents forward interest rate contracts ("IC") designated as derivative instruments in cash flow hedging relationships.
(3)Represents cross currency swap contracts ("CCS") designated as derivative instruments in net investment hedging relationships, for which the difference between changes in fair value and periodic amortization of excluded components is recorded within AOCI.