v3.26.1
LONG-TERM DEBT AND OTHER BORROWINGS
9 Months Ended
Mar. 29, 2026
Debt Disclosure [Abstract]  
LONG-TERM DEBT AND OTHER BORROWINGS LONG-TERM DEBT AND OTHER BORROWINGS
Senior Notes
On March 4, 2019, the Company completed a public offering of $750.0 million aggregate principal amount of the Company’s Senior Notes due March 15, 2026 (the “2026 Notes”). The 2026 Notes were settled upon maturity during the three months ended March 29, 2026. The remaining outstanding Senior Notes are unchanged from those disclosed in Note 14, “Long-term Debt and Other Borrowings,” to the Consolidated Financial Statements in Part II, Item 8 of the Company’s 2025 Form 10-K.
Commercial Paper Program
In November 2017, the Company established a commercial paper program (the “CP Program”) under which the Company may issue unsecured commercial paper notes on a private placement basis up to a maximum aggregate principal amount of $1.25 billion. In July 2021, the Company amended the CP Program size to a maximum aggregate amount outstanding at any time of $1.50 billion. On March 10, 2026, the CP Program size was further amended to a maximum aggregate amount outstanding at any time of $2.00 billion. The net proceeds from the CP Program may be used for general corporate purposes, including repurchases of the Company’s Common Stock from time to time under the Company’s stock repurchase program. Amounts available under the CP Program may be re-borrowed. The CP Program is backstopped by the Company’s Revolving Credit Arrangement. As of March 29, 2026, the Company had no outstanding borrowings under the CP Program.