v3.23.2
Insurance Program Liabilities
12 Months Ended
Jul. 01, 2023
Insurance [Abstract]  
Insurance Program Liabilities

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 the deductibles 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)

 

 

 

Balance at June 27, 2020

 

$

181.8

 

Charged to costs and expenses

 

$

236.6

 

Payments

 

 

(240.3

)

Balance at July 3, 2021

 

$

178.1

 

Additional liabilities assumed in connection with an acquisition

 

 

40.8

 

Charged to costs and expenses

 

 

346.5

 

Payments

 

 

(338.4

)

Balance at July 2, 2022

 

$

227.0

 

Charged to costs and expenses

 

 

398.7

 

Payments

 

 

(382.6

)

Balance at July 1, 2023

 

$

243.1