Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
3 Months Ended |
Sep. 24, 2016 |
Sep. 26, 2015 |
| Cash flows from operating activities: |
|
|
| Net income |
$ 137,614
|
$ (72,143)
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Stock-based compensation |
17,120
|
16,963
|
| Depreciation and amortization |
43,485
|
102,053
|
| Deferred taxes |
14,895
|
(53,111)
|
| Loss on sale of property, plant and equipment |
652
|
(1,346)
|
| Gain (Loss) on Disposition of Business |
(26,620)
|
0
|
| Tax benefit (shortfall) related to stock-based compensation plans |
0
|
1,193
|
| Impairment of Long-Lived Assets to be Disposed of |
6,134
|
157,697
|
| Excess tax benefit related to stock-based compensation |
0
|
(2,249)
|
| Changes in assets and liabilities: |
|
|
| Accounts receivable |
3,013
|
(3,627)
|
| Inventories |
2,517
|
(2,167)
|
| Other current assets and income tax refund receivable |
(12,099)
|
4,796
|
| Accounts payable |
(858)
|
(9,776)
|
| Income taxes payable |
110
|
34,127
|
| Deferred income on shipments to distributors |
(3,025)
|
4,764
|
| Increase (Decrease) in Employee Related Liabilities |
(55,572)
|
(60,718)
|
| All other accrued liabilities |
(3,964)
|
883
|
| Net cash provided by operating activities |
123,402
|
117,339
|
| Cash flows from investing activities: |
|
|
| Purchase of property, plant and equipment |
(14,310)
|
(15,821)
|
| Proceeds from sale of property, plant, and equipment |
205
|
606
|
| Proceeds from sale of available-for-sale securities |
24,540
|
0
|
| Proceeds from maturity of available-for-sale securities |
25,000
|
0
|
| Proceeds from Divestiture of Businesses |
42,199
|
0
|
| Payments to Acquire Available-for-sale Securities |
(75,224)
|
(25,055)
|
| Payments to Acquire Investments |
(2,337)
|
(1,000)
|
| Net cash used in investing activities |
73
|
(41,270)
|
| Cash flows from financing activities: |
|
|
| Excess tax benefit related to stock-based compensation |
0
|
2,249
|
| Net issuance of restricted stock units |
(5,206)
|
(4,822)
|
| Proceeds from stock options exercised |
19,911
|
8,970
|
| Repurchase of common stock |
(57,709)
|
(39,697)
|
| Dividends paid |
(93,627)
|
(85,387)
|
| Net cash used in financing activities |
(136,631)
|
(118,687)
|
| Net decrease in cash and cash equivalents |
(13,156)
|
(42,618)
|
| Cash and cash equivalents: |
|
|
| Beginning of period |
2,105,229
|
1,550,965
|
| End of period |
2,092,073
|
1,508,347
|
| Supplemental disclosures of cash flow information: |
|
|
| Cash paid (refunded), net during the period for income taxes |
33,760
|
7,021
|
| Cash paid for interest |
8,438
|
8,438
|
| Noncash investing and financing activities: |
|
|
| Accounts payable related to property, plant, and equipment purchases |
4,722
|
7,127
|
| Proceeds from Sale of Other Property, Plant, and Equipment |
$ 25,922
|
$ 0
|