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Long-term Debt
6 Months Ended
Dec. 24, 2017
Long-term Debt, Unclassified [Abstract]  
Long-term Debt
Long-term Debt
As of December 24, 2017, the Company had a $500 million secured revolving line of credit under which the Company can borrow, repay and reborrow loans from time to time prior to its scheduled maturity date of January 9, 2022.
The Company classifies balances outstanding under its line of credit as long-term debt in the consolidated balance sheets. At December 24, 2017, the Company had $124 million outstanding under the line of credit and $376 million available for borrowing. For the three and six months ended December 24, 2017, the average interest rate was 1.75% and 1.76% for each period, respectively. For the three and six months ended December 24, 2017 the average commitment fee percentage was 0.10%. The Company was in compliance with all covenants in the line of credit at December 24, 2017.