|
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
12 Months Ended |
|
Jun. 29, 2013
|
Jun. 30, 2012
|
Jun. 25, 2011
|
| Cash flows from operating activities: |
|
|
|
| Net income |
$ 454,912 |
$ 386,727 |
$ 489,009 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
| Stock-based compensation |
83,808 |
89,867 |
94,297 |
| Depreciation and amortization |
207,136 |
211,096 |
205,062 |
| Deferred taxes |
25,372 |
30,759 |
140,084 |
| In process research & development |
2,800 |
1,600 |
0 |
| Loss from sale of property, plant and equipment |
(1,156) |
(7,648) |
12,946 |
| Loss (gain) from sale of equity investments |
0 |
(1,811) |
0 |
| Other Noncash Expense |
4,621 |
1,670 |
0 |
| Tax benefit (shortfall) related to stock-based compensation |
8,197 |
3,112 |
30,546 |
| Excess tax benefit related to stock-based compensation |
(18,923) |
(17,482) |
(12,869) |
| Net of Asset Impairment Charges |
24,929 |
30,645 |
0 |
| Cash Provided by (Used in) Operating Activities, Discontinued Operations |
(3,285) |
(45,372) |
0 |
| Changes in assets and liabilities: |
|
|
|
| Accounts receivable |
32,023 |
(19,262) |
43,256 |
| Inventories |
(35,245) |
(432) |
(29,435) |
| Other current assets |
(20,533) |
(16,757) |
53,255 |
| Accounts payable |
(32,510) |
25,515 |
(4,746) |
| Income taxes payable |
70,156 |
134,967 |
(45,318) |
| Deferred income on shipments to distributors |
277 |
(10,601) |
11,102 |
| Accrued liabilities - litigation settlement |
0 |
0 |
(173,000) |
| All other accrued liabilities |
15,356 |
(39,871) |
47,265 |
| Net cash provided by operating activities |
817,935 |
756,722 |
861,454 |
| Cash flows from investing activities: |
|
|
|
| Purchases of property, plant and equipment |
(216,672) |
(264,348) |
(175,253) |
| Proceeds from sale of property, plant, and equipment |
19,196 |
16,883 |
27,624 |
| Proceeds from Collection of Notes Receivable |
10,786 |
0 |
0 |
| Acquisitions |
(2,767) |
(168,544) |
(80,918) |
| Cash Provided by (Used in) Investing Activities, Discontinued Operations |
0 |
56,607 |
0 |
| Purchases of available-for-sale securities |
0 |
(25,108) |
(49,787) |
| Payments to Acquire Investments |
(500) |
(3,480) |
0 |
| Proceeds from Divestiture of Businesses |
585 |
3,225 |
0 |
| Proceeds from sales/maturities of available-for-sale securities |
50,000 |
0 |
0 |
| Net cash used in investing activities |
(139,372) |
(384,765) |
(278,334) |
| Cash flows from financing activities |
|
|
|
| Excess tax benefit from stock-based compensation plans |
18,923 |
17,482 |
12,869 |
| Mortgage liability |
0 |
0 |
(3,237) |
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability |
(13,781) |
0 |
0 |
| Repayment of notes payable |
(303,500) |
(20,806) |
(1,422) |
| Long-term debt, net of issuance costs |
494,395 |
0 |
0 |
| Payments of Debt Issuance Costs |
(3,921) |
0 |
0 |
| Proceeds from Issuance of Common Stock |
(29,042) |
(29,649) |
(28,839) |
| Proceeds from Stock Options Exercised |
71,342 |
49,906 |
24,845 |
| Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options |
36,297 |
33,772 |
28,850 |
| Repurchase of common stock |
(375,135) |
(246,412) |
(231,012) |
| Dividends paid |
(280,215) |
(257,731) |
(249,145) |
| Net cash used in financing activities |
(384,637) |
(453,438) |
(447,091) |
| Net increase (decrease) in cash and cash equivalents |
293,926 |
(81,481) |
136,029 |
| Cash and cash equivalents: |
|
|
|
| Beginning of year |
881,060 |
962,541 |
826,512 |
| End of year |
1,174,986 |
881,060 |
962,541 |
| Supplemental disclosures of cash flow information: |
|
|
|
| Cash (refunded) paid, net during the year for income taxes |
19,080 |
39,827 |
(15,529) |
| Cash paid for interest |
10,624 |
10,890 |
10,264 |
| Noncash financing and investing activities: |
|
|
|
| Accounts payable related to property, plant and equipment purchases |
16,825 |
26,079 |
22,841 |
| Notes Assumed |
$ 4,504 |
$ 0 |
$ 0 |