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SHAREHOLDERS' DEFICIT
 6 Months Ended
Dec. 26, 2018
Stockholders' Equity Note [Abstract]  
Shareholders Deficit Changes in Shareholders’ Deficit
The changes by quarter in Total shareholders’ deficit during the twenty-six week periods ended December 26, 2018 and December 27, 2017, respectively, were as follows:
 
Twenty-Six Week Period Ended December 26, 2018
 
Common Stock
 
Additional
Paid-In
Capital
 
Retained
Earnings
 
Treasury
Stock
 
Accumulated
Other
Comprehensive
Income (Loss)
 
Total
Balance at June 27, 2018
$
17.6

 
$
511.6

 
$
2,683.0

 
$
(3,924.7
)
 
$
(5.8
)
 
$
(718.3
)
Effect of ASC 606 adoption
—

 
—

 
(7.4
)
 
—

 
—

 
(7.4
)
Net income
—

 
—

 
26.4

 
—

 
—

 
26.4

Other comprehensive income
—

 
—

 
—

 
—

 
0.3

 
0.3

Dividends ($0.38 per share)
—

 
—

 
(15.5
)
 
—

 
—

 
(15.5
)
Stock-based compensation
—

 
3.6

 
—

 
—

 
—

 
3.6

Purchases of treasury stock
—

 
(7.5
)
 
—

 
(98.0
)
 
—

 
(105.5
)
Issuances of common stock
—

 
(3.8
)
 
—

 
4.3

 
—

 
0.5

Balance at September 26, 2018
17.6

 
503.9

 
2,686.5

 
(4,018.4
)
 
(5.5
)
 
(815.9
)
Net income
—

 
—

 
32.0

 
—

 
—

 
32.0

Other comprehensive income
—

 
—

 
—

 
—

 
(0.6
)
 
(0.6
)
Dividends ($0.38 per share)
—

 
—

 
(14.5
)
 
—

 
—

 
(14.5
)
Stock-based compensation
—

 
3.6

 
—

 
—

 
—

 
3.6

Purchases of treasury stock
—

 
6.9

 
—

 
(69.0
)
 
—

 
(62.1
)
Issuances of common stock
—

 
(0.2
)
 
—

 
2.5

 
—

 
2.3

Balance at December 26, 2018
$
17.6

 
$
514.2

 
$
2,704.0

 
$
(4,084.9
)
 
$
(6.1
)
 
$
(855.2
)
 
Twenty-Six Week Period Ended December 27, 2017
 
Common Stock
 
Additional
Paid-In
Capital
 
Retained
Earnings
 
Treasury
Stock
 
Accumulated
Other
Comprehensive
Income (Loss)
 
Total
Balances at June 28, 2017
$
17.6

 
$
502.1

 
$
2,627.1

 
$
(3,628.5
)
 
$
(11.9
)
 
$
(493.6
)
Net income
—

 
—

 
9.9

 
—

 
—

 
9.9

Other comprehensive income
—

 
—

 
—

 
—

 
1.5

 
1.5

Dividends ($0.38 per share)
—

 
—

 
(18.8
)
 
—

 
—

 
(18.8
)
Stock-based compensation
—

 
3.5

 
—

 
—

 
—

 
3.5

Purchases of treasury stock
—

 
(0.1
)
 
—

 
(41.6
)
 
—

 
(41.7
)
Issuances of common stock
—

 
(2.4
)
 
—

 
2.6

 
—

 
0.2

Balance at September 27, 2017
17.6

 
503.1

 
2,618.2

 
(3,667.5
)
 
(10.4
)
 
(539.0
)
Realized foreign currency translation
—

 
—

 
—

 
—

 
5.4

 
5.4

Net income
—

 
—

 
25.3

 
—

 
—

 
25.3

Other comprehensive income
—

 
—

 
—

 
—

 
(0.2
)
 
(0.2
)
Dividends ($0.38 per share)
—

 
—

 
(17.9
)
 
—

 
—

 
(17.9
)
Stock-based compensation
—

 
2.8

 
—

 
—

 
—

 
2.8

Purchases of treasury stock
—

 
—

 
—

 
(30.1
)
 
—

 
(30.1
)
Issuances of common stock
—

 
(0.8
)
 
—

 
1.6

 
—

 
0.8

Balance at December 27, 2017
$
17.6

 
$
505.1

 
$
2,625.6

 
$
(3,696.0
)
 
$
(5.2
)
 
$
(552.9
)

Share Repurchases
Our share repurchase plan has been and will be used to return capital to shareholders and to minimize the dilutive impact of stock options and other share-based awards. We evaluate potential share repurchases under our plan based on several factors, including our cash position, share price, operational liquidity, proceeds from divestitures, borrowings, and planned investment and financing needs. Shares that have been paid for but not yet delivered are reflected as a reduction of Additional paid in capital while other repurchased shares are reflected as an increase in Treasury stock within Shareholders’ deficit in the Consolidated Balance Sheets. The repurchased shares during the twenty-six week periods ended December 26, 2018 and December 27, 2017 included shares purchased as part of our share repurchase program and shares repurchased to satisfy team member tax withholding obligations on the vesting of restricted shares.
Twenty-Six Week Periods Ended December 26, 2018
In August 2018, our Board of Directors authorized a $300.0 million increase to our existing share repurchase program resulting in total authorizations of $4.9 billion. During the thirteen week period ended September 26, 2018, we repurchased approximately 2.1 million shares of our common stock for $105.5 million. During the thirteen week period ended December 26, 2018, we repurchased approximately 1.5 million shares of our common stock for $62.1 million. As of December 26, 2018, approximately $197.8 million was available under our share repurchase authorizations.
Twenty-Six Week Periods Ended December 27, 2017
During the thirteen week period ended September 27, 2017, we repurchased approximately 1.3 million shares of our common stock for $41.7 million. During the thirteen week period ended December 27, 2017, we repurchased approximately 1.0 million shares of our common stock for $30.1 million.
Stock-based Compensation
The following table presents the stock options and restricted share awards granted, and related weighted average exercise price and fair value per share amounts for the twenty-six week periods ended December 26, 2018 and December 27, 2017:
 
Twenty-Six Week Periods Ended
 
December 26,
2018
 
December 27,
2017
Stock options
 
 
 
Stock options granted
0.7

 
1.2

Weighted average exercise price per share
$
43.63

 
$
31.22

Weighted average fair value per share
$
8.25

 
$
4.45

Restricted share awards
 
 
 
Restricted share awards granted
0.3

 
0.4

Weighted average fair value per share
$
43.35

 
$
31.23


During the thirteen week period ended December 26, 2018, we modified certain fiscal 2018 performance-based stock option awards and 0.2 million options were canceled. We subsequently granted fiscal 2019 performance-based stock option awards of 0.4 million options with a grant date fair value equivalent to the fair value of the canceled fiscal 2018 options as of the modification date. Vesting of the fiscal 2019 performance-based options is conditioned on achievement of the same performance targets and vest on the same schedule as the fiscal 2018 performance-based stock options. There is no incremental compensation cost as a result of this modification. The fiscal 2019 performance-based stock option awards are included in the above stock options granted table.
Dividends
During the twenty-six week periods ended December 26, 2018 and December 27, 2017, we paid dividends of $31.6 million and $35.4 million to common stock shareholders, respectively. We also declared a quarterly dividend on October 29, 2018, that was paid subsequent to the second quarter of fiscal 2019, on December 27, 2018, in the amount
of $0.38 per share. As of December 26, 2018, we have accrued $14.2 million for this dividend in Other accrued liabilities on our Consolidated Balance Sheets, see Note 9 - Accrued and Other Liabilities.
Effect of Adoption of ASC 606
During the thirteen week period ended September 26, 2018, we adopted ASC 606 and recorded a $7.4 million cumulative effect adjustment decrease to Retained earnings for the change in accounting principle. Please refer to Note 2 - Revenue Recognition for more details.
Realized Foreign Currency Translation
During the thirteen week period ended December 27, 2017, we divested our Mexican joint venture and realized $5.4 million of foreign currency translation losses that were reclassified from Accumulated other comprehensive loss into Net income. Please refer to Note 10 - Fair Value Measurements for further details on the divestiture and related consideration received.