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Long-term Debt Long-term Debt | 12 Months Ended
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Jun. 25, 2017
Long-term Debt, Unclassified [Abstract] |
Long-term Debt | Long-term Debt As of June 25, 2017 the Company had a 500 million secured revolving line of credit pursuant to a credit agreement (the Credit Agreement) with Wells Fargo Bank, National Association (Wells Fargo) under which the Company can borrow, repay and reborrow loans from time to time prior to its scheduled maturity date of January 9, 2020. The Company classifies balances outstanding under its line of credit as long-term debt in the Consolidated Balance Sheets. At June 25, 2017, the Company had $145 million outstanding under the Credit Agreement and $355 million available for borrowing. For the year ended June 25, 2017, the average interest rate under the Credit Agreement was 1.56%. The average commitment fee percentage for the Credit Agreement was 0.11% for the year ended June 25, 2017. For the year ended June 26, 2016, the average interest rate under the Credit Agreement was 1.14%. The average commitment fee percentage for the Credit Agreement was 0.09% for the year ended June 26, 2016. The Company was in compliance with all covenants in the Credit Agreement at June 25, 2017.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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- References No definition available. + Details
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