Income Taxes (Tables)

12 Months Ended

Jun. 27, 2015

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
	2015		2014		2013
Pre-tax income (loss):
Ireland	(821.2	)	(369.3	)	—
Other	1,069.2		641.9		607.7
Total	248.0		272.6		607.7
Provision for income taxes:
Current:
Ireland	(2.0	)	2.2		—
United States - Federal	77.0		44.0		125.0
United States - State	6.9		9.3		10.7
Other Foreign	54.1		49.1		24.3
Subtotal	136.0		104.6		160.1
Deferred (credit):
Ireland	7.5		(24.2	)	—
United States - Federal	(17.5	)	7.8		16.6
United States - State	(0.8	)	(5.8	)	—
Other Foreign	(5.2	)	(15.1	)	(10.9	)
Subtotal	(16.0	)	(37.3	)	5.7
Total	120.0		67.3		165.8

Schedule of Effective Income Tax Rate Reconciliation

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

	Fiscal Year
	2015		2014		2013
Provision at statutory rate	12.5	%	12.5	%	35.0	%
Ireland tax on non-trading differences	(10.3	)	2.8		—
Expenses not deductible for tax purposes/ deductions not expensed for book, net	15.5		12.1		(0.6	)
U.S. Operations:
State income taxes, net of federal benefit	(1.0	)	(0.2	)	1.1
Foreign tax credit	—		0.2		(0.1	)
Research and development credit	(0.8	)	(0.5	)	(0.5	)
Other	5.6		(0.8	)	(1.0	)
Other foreign differences (earnings taxed at other than applicable statutory rate)	(16.6	)	(16.0	)	(8.7	)
Worldwide operations:
Valuation allowance changes	25.0		2.9		—
Audit impacts	—		—		(1.2	)
Change in unrecognized taxes	18.5		15.0		3.3
Rate change impacts	—		(3.3	)	—
Effective income tax rate	48.4	%	24.7	%	27.3	%

Schedule of Deferred Tax Assets and Liabilities

The components of our net deferred income tax asset (liability) was as follows:

	Fiscal Year
	2015			2014
Deferred income tax asset (liability):
Depreciation and amortization	$	(1,889.0	)	$	(982.6	)
Inventory basis differences	30.2			43.9
Accrued liabilities	67.2			84.3
Allowance for doubtful accounts	0.9			0.9
Research and development	62.8			3.7
Loss carryforwards	502.4			300.4
Share-based compensation	14.3			14.3
Foreign tax credit	10.6			10.6
Federal benefit of unrecognized tax positions	26.3			20.7
Other, net	29.7			59.6
Subtotal	(1,144.6		)	(444.2		)
Valuation allowance for loss and credit carryforwards	(519.2		)	(198.4		)
Net deferred income tax asset (liability):	$	(1,663.8	)	$	(642.6	)

The above amounts are classified on the Consolidated Balance Sheets as follows (in millions):

	June 27, 2015			June 28, 2014
Assets	$	161.9		$	86.4
Liabilities	(1,825.7		)	(729.0		)
Net deferred income tax (liability) asset	$	(1,663.8	)	$	(642.6	)

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 27, 2015 and June 28, 2014 (in millions):

	Unrecognized Tax Benefits
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
Additions:
Positions related to the current year	38.9
Positions related to prior years	122.7
Reductions:
Positions related to the current year	—
Positions related to prior years	—
Settlements with taxing authorities	(1.4		)
Lapse of statutes of limitation	(1.7		)
Balance at June 27, 2015	$	318.6