v3.26.1
Debt (Tables)
12 Months Ended
Jun. 27, 2026
Schedule of Debt

Debt consisted of the following:

 

 

 

 

 

 

 

(In millions)

 

As of June 27, 2026

 

 

As of June 28, 2025

 

Credit Agreement

 

$

1,971.0

 

 

$

2,355.0

 

5.500% Notes due 2027, effective interest rate 5.930%

 

 

-

 

 

 

1,060.0

 

4.250% Notes due 2029, effective interest rate 4.439%

 

 

1,000.0

 

 

1,000.0

 

6.125% Notes due 2032, effective interest rate 6.286%

 

 

1,000.0

 

 

 

1,000.0

 

5.625% Notes due 2034, effective interest rate 5.785%

 

 

1,060.0

 

 

 

-

 

Less: Original issue discount and deferred financing costs

 

 

(24.2

)

 

(26.2

)

Long-term debt

 

 

5,006.8

 

 

5,388.8

 

Less: current installments

 

 

 

 

 

Total debt, excluding current installments

 

$

5,006.8

 

 

$

5,388.8

 

Schedule of Fiscal Year Maturities of Long-Term Debt, Excluding Finance Lease Obligations

Fiscal year maturities of long-term debt, excluding finance lease obligations, are as follows:

(In millions)

 

 

 

2027

 

$

 

2028

 

 

 

2029

 

 

 

2030

 

 

2,971.0

 

2031

 

 

 

Thereafter

 

 

2,060.0

 

Total long-term debt, excluding finance lease obligations

 

$

5,031.0

 

ABL Facility [Member]  
Summary of Outstanding Borrowings, Availability, and Average Interest Rate under ABL Facility

The following table summarizes outstanding borrowings, availability, and the average interest rate under the ABL Facility:

(Dollars in millions)

 

As of June 27, 2026

 

 

As of June 28, 2025

 

Aggregate borrowings

 

$

1,971.0

 

 

$

2,355.0

 

Letters of credit

 

 

160.3

 

 

 

171.4

 

Excess availability, net of lenders’ reserves of $137.2 and $106.0

 

 

2,868.7

 

 

 

2,473.6

 

Average interest rate, excluding impact of interest rate swaps

 

 

5.49

%

 

 

5.86

%