Leases (Tables)

12 Months Ended

Jun. 27, 2026

Leases [Abstract]

Summary of Right-of-Use Assets and Lease Liabilities in Consolidated Balance Sheet

The following table presents the location of the right-of-use assets and lease liabilities in the Company’s consolidated balance sheet as of June 27, 2026 and June 28, 2025 (in millions), as well as the weighted-average lease term and discount rate for the Company’s leases:


Leases		Consolidated Balance Sheet Location		As of June 27, 2026				As of June 28, 2025
Assets:
Operating		Operating lease right-of-use assets		$	898.5			$	933.8
Finance		Property, plant and equipment, net			1,806.4				1,614.7
Total lease assets				$	2,704.9			$	2,548.5
Liabilities:
Current
Operating		Operating lease obligations—current installments		$	108.5			$	104.5
Finance		Finance lease obligations—current installments			265.4				221.9
Non-current
Operating		Operating lease obligations, excluding current installments			864.6				900.7
Finance		Finance lease obligations, excluding current installments			1,537.2				1,379.9
Total lease liabilities				$	2,775.7			$	2,607.0

Weighted average remaining lease term
Operating leases				10.1 years				10.7 years
Finance leases				9.3 years				9.8 years
Weighted average discount rate
Operating leases					5.6	%			5.6	%
Finance leases					5.7	%			5.7	%

Summary of Location of Lease Costs in Consolidated Statement of Operations

The following table presents the location of lease costs in the Company consolidated statements of operations for the periods reported (in millions):


				Fiscal Year Ended
Lease Cost		Statement of Operations Location		June 27, 2026				June 28, 2025				June 29, 2024
Finance lease cost:
Amortization of finance lease assets		Operating expenses		$	243.6			$	186.5			$	118.5
Interest on lease liabilities		Interest expense			98.5				63.2				33.8
Total finance lease cost				$	342.1			$	249.7			$	152.3
Operating lease cost		Operating expenses			170.2				172.5				161.4
Short-term lease cost		Operating expenses			52.9				55.7				60.2
Total lease cost				$	565.2			$	477.9			$	373.9

Summary of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases for the periods reported is as follows:


		Fiscal Year Ended
		June 27, 2026				June 28, 2025				June 29, 2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	157.8			$	158.1			$	147.3
Operating cash flows from finance leases			98.5				63.2				33.8
Financing cash flows from finance leases			241.6				188.0				122.2
Right-of-use assets obtained in exchange for lease obligations:
Operating leases			72.5				175.7				290.6
Finance leases			441.1				842.0				412.4

Summary of Future Minimum Lease Payments Under Non-Cancelable Leases

Future minimum lease payments under non-cancelable leases as of June 27, 2026, are as follows (in millions):


Fiscal Year		Operating Leases				Finance Leases
2027		$	161.4			$	361.3
2028			152.5				330.4
2029			138.1				306.4
2030			124.3				279.0
2031			112.4				243.7
Thereafter			636.8				931.7
Total future minimum lease payments		$	1,325.5			$	2,452.5
Less: Interest			352.4				649.9
Present value of future minimum lease payments		$	973.1			$	1,802.6