Nine Months Ended | Fiscal Year Ended | ||||||||||||||||||||||||||
Jul. 1, 2017 | Jul. 2, 2016 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||||
EARNINGS | |||||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | 11,094 | $ | 11,987 | $ | 14,868 | $ | 13,868 | $ | 12,246 | $ | 9,620 | $ | 9,260 | |||||||||||||
Equity in the income of investees | (327 | ) | (776 | ) | (926 | ) | (814 | ) | (854 | ) | (688 | ) | (627 | ) | |||||||||||||
Cash distributions received from equity investees | 584 | 594 | 799 | 752 | 718 | 694 | 663 | ||||||||||||||||||||
Interest expense, amortization of debt discounts and premiums on all indebtedness and amortization of capitalized interest | 430 | 294 | 433 | 325 | 360 | 415 | 525 | ||||||||||||||||||||
Imputed interest on operating leases (1) | 215 | 209 | 282 | 286 | 294 | 292 | 288 | ||||||||||||||||||||
TOTAL EARNINGS | $ | 11,996 | $ | 12,308 | $ | 15,456 | $ | 14,417 | $ | 12,764 | $ | 10,333 | $ | 10,109 | |||||||||||||
FIXED CHARGES | |||||||||||||||||||||||||||
Interest expense and amortization of debt discounts and premiums on all indebtedness | $ | 370 | $ | 235 | $ | 354 | $ | 265 | $ | 294 | $ | 349 | $ | 472 | |||||||||||||
Capitalized interest | 67 | 119 | 139 | 110 | 73 | 77 | 92 | ||||||||||||||||||||
Imputed interest on operating leases (1) | 215 | 209 | 282 | 286 | 294 | 292 | 288 | ||||||||||||||||||||
TOTAL FIXED CHARGES | $ | 652 | $ | 563 | $ | 775 | $ | 661 | $ | 661 | $ | 718 | $ | 852 | |||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES (2) | 18.4 | 21.9 | 19.9 | 21.8 | 19.3 | 14.4 | 11.9 | ||||||||||||||||||||
(1) | The portion of operating rental expense which management believes is representative of the interest component of rent expense. |
(2) | The ratio does not adjust for interest on unrecognized tax benefits that are recorded as a component of income tax expense. |