Income Taxes (Tables)

12 Months Ended

Jun. 28, 2014

Income Taxes [Abstract]

Schedule of Income before Income Tax and Components of Income Tax Expense (Benefit)

Pre-tax income and the provision for income taxes from continuing operations are summarized as follows (in millions):

	Fiscal Year
	2014		2013		2012
Pre-tax income:
Ireland	(369.3	)	—		—
Other	641.9		607.7		512.0
Total	272.6		607.7		512.0
Provision for income taxes:
Current:
Ireland	2.2		—		—
United States - Federal	44.0		125.0		74.9
United States - State	9.3		10.7		7.5
Other Foreign	49.1		24.3		9.1
Subtotal	104.6		160.1		91.5
Deferred (credit):
Ireland	(24.2	)	—		—
United States - Federal	7.8		16.6		32.6
United States - State	(5.8	)	—		1.4
Other Foreign	(15.1	)	(10.9	)	(6.6	)
Subtotal	(37.3	)	5.7		27.5
Total	67.3		165.8		119.0

Schedule of Effective Income Tax Rate Reconciliation

A reconciliation of the provision based on the Federal statutory income tax rate to the Company’s effective income tax rate is as follows:

	Fiscal Year
	2014		2013		2012
Provision at statutory rate	12.5	%	35.0	%	35.0	%
Ireland tax on non-trading differences	2.8		—		—
Expenses not deductible for tax purposes/ deductions not expensed for book, net	12.1		(0.6	)	(0.9	)
U.S. Operations:
State income taxes, net of Federal benefit	(0.2	)	1.1		1.1
Foreign tax credit	0.2		(0.1	)	(0.1	)
Research and development credit	(0.5	)	(0.5	)	(0.3	)
Other	(0.8	)	(1.0	)	(0.9	)
Other foreign differences (earnings taxed at other than applicable statutory rate)	(16.0	)	(8.7	)	(9.5	)
Worldwide Operations:
Valuation allowance changes	2.9		—		—
Audit impacts	—		(1.2	)	(5.1	)
Change in unrecognized taxes	15.0		3.3		3.9
Rate change impacts	(3.3	)	—		—
Effective income tax rate	24.7	%	27.3	%	23.2	%

Schedule of Deferred Tax Assets and Liabilities

	Fiscal Year
	2014			2013
Deferred income tax asset (liability):
Depreciation and amortization	$	(982.6	)	$	(203.3	)
Inventory basis differences	43.9			35.6
Accrued liabilities	84.3			43.4
Allowance for doubtful accounts	0.9			0.5
Research and development	3.7			4.0
Loss carryforwards	300.4			31.3
Share-based compensation	14.3			13.2
Foreign Tax Credit	10.6			13.7
Federal benefit of unrecognized tax positions	20.7			—
Other, net	59.6			19.6
Subtotal	(444.2		)	(41.9		)
Valuation allowance for loss and credit carryforwards	(198.4		)	(18.8		)
Net deferred income tax (liability) asset:	$	(642.6	)	$	(60.7	)

The above amounts are classified in the consolidated balance sheet as follows (in millions):

	June 28, 2014			June 29, 2013
Assets	$	86.4		$	67.3
Liabilities	(729.0		)	(128.0		)
Net deferred income tax (liability) asset	$	(642.6	)	$	(60.7	)

Summary of Income Tax Contingencies

The following table summarizes the activity related to amounts recorded for uncertain tax positions, excluding interest and penalties, for the years ended June 28, 2014 and June 29, 2013 (in millions):

	Unrecognized Tax Benefits
Balance at June 30, 2012	$	99.2
Additions:
Positions related to the current year	18.1
Positions related to prior years	1.9
Reductions:
Positions related to the current year	—
Positions related to prior years	—
Settlements with taxing authorities	(7.5		)
Lapse of statutes of limitation	(1.6		)
Balance at June 29, 2013	110.1
Additions:
Positions related to the current year	28.8
Positions related to prior years	22.7
Reductions:
Positions related to the current year	—
Positions related to prior years	—
Settlements with taxing authorities	—
Lapse of statutes of limitation	(1.5		)
Balance at June 28, 2014	$	160.1