Insurance Program Liabilities

12 Months Ended

Jun. 27, 2026

10. Insurance Program Liabilities

The Company maintains high-deductible insurance programs covering portions of general and vehicle liability, workers’ compensation, and group medical insurance. The amounts in excess of self-insured levels are fully insured by third-party insurance carriers, subject to certain limitations. A summary of the activity in all types of deductible liabilities appears below:


(In millions)	Fiscal Year Ended June 27, 2026			Fiscal Year Ended June 28, 2025			Fiscal Year Ended June 29, 2024
Net balance at beginning of year	$	342.0		$	272.2		$	243.1
Additional liabilities assumed in connection with an acquisition		—			29.6			—
Charged to costs and expenses		554.4			505.7			425.0
Payments		(487.4	)		(465.5	)		(395.9	)
Net balance at end of year		409.0			342.0			272.2
Reinsurance recoverables		22.0			—			—
Gross balance at end of year	$	431.0		$	342.0		$	272.2

- Definition

The entire disclosure for the types of coverages and products sold, and the assets, obligations, recorded liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

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