|
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
|
3 Months Ended |
|
Sep. 27, 2014
|
Sep. 28, 2013
|
| Cash flows from operating activities: |
|
|
| Net income |
$ 99,980 |
$ 103,120 |
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Stock-based compensation |
22,420 |
18,740 |
| Depreciation and amortization |
63,693 |
51,133 |
| Deferred taxes |
6,207 |
25,529 |
| Loss on sale of property, plant and equipment |
244 |
36 |
| Tax benefit (shortfall) related to stock-based compensation plans |
1,610 |
(3,488) |
| Impairment of Long-Lived Assets to be Disposed of |
10,226 |
0 |
| Excess tax benefit related to stock-based compensation |
(2,249) |
(1,697) |
| Changes in assets and liabilities: |
|
|
| Accounts receivable |
13,896 |
(12,450) |
| Inventories |
(15,650) |
(2,301) |
| Other current assets and income tax refund receivable |
(24,974) |
(18,546) |
| Accounts payable |
4,455 |
(9,162) |
| Income taxes payable |
(12,289) |
11,393 |
| Deferred income on shipments to distributors |
1,087 |
622 |
| All other accrued liabilities |
(51,659) |
(67,035) |
| Net cash provided by operating activities |
116,997 |
95,894 |
| Cash flows from investing activities: |
|
|
| Purchase of property, plant and equipment |
(31,686) |
(36,329) |
| Proceeds from sale of property, plant, and equipment |
212 |
3,048 |
| Payments to Acquire Available-for-sale Securities |
(25,142) |
0 |
| Net cash used in investing activities |
(56,616) |
(33,281) |
| Cash flows from financing activities: |
|
|
| Excess tax benefit related to stock-based compensation |
2,249 |
1,697 |
| Repayment of notes payable |
(437) |
0 |
| Proceeds from Issuance of Long-term Debt |
0 |
100 |
| Net issuance of restricted stock units |
(8,038) |
(6,966) |
| Proceeds from stock options exercised |
9,704 |
5,247 |
| Repurchase of common stock |
(62,685) |
(154,386) |
| Dividends paid |
(79,763) |
(73,744) |
| Net cash used in financing activities |
(138,970) |
(228,052) |
| Net decrease in cash and cash equivalents |
(78,589) |
(165,439) |
| Cash and cash equivalents: |
|
|
| Beginning of period |
1,322,472 |
1,174,986 |
| End of period |
1,243,883 |
1,009,547 |
| Supplemental disclosures of cash flow information: |
|
|
| Cash paid (refunded), net during the period for income taxes |
8,581 |
433 |
| Cash paid for interest |
8,452 |
8,302 |
| Noncash investing and financing activities: |
|
|
| Accounts payable related to property, plant, and equipment purchases |
$ 4,290 |
$ 21,725 |