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Quarterly Financial Data
 6 Months Ended
Dec. 31, 2015
Quarterly Financial Data [Abstract]  
Quarterly Financial Data (unaudited) [Text Block]
QUARTERLY FINANCIAL DATA (unaudited)

The following table presents unaudited quarterly consolidated operating results for each of our last ten quarters. The information below has been prepared on a basis consistent with our audited consolidated financial statements (in millions, except per share amounts).
 
Three Months Ended
 
September 26, 2015 (2)
 
December 31, 2015 (3)
Net sales
$
1,344.7

 
$
1,424.8

Gross profit
$
548.8

 
$
559.3

Net income (loss)
$
112.6

 
$
(107.0
)
Earnings (loss) per share(1):
 
 
 
Basic
$
0.77

 
$
(0.74
)
Diluted
$
0.77

 
$
(0.74
)
Weighted average shares outstanding
 
 
 
Basic
146.3

 
144.9

Diluted
146.9

 
144.9


(1)    The sum of individual per share amounts may not equal due to rounding.
(2) 
Includes Mylan defense-related fees of $15.6 million.
(3) 
Includes an intangible asset impairment charge of $185.1 million, Mylan defense-related fees of $71.3 million, an impairment charge on our India API held for sale assets of $29.0 million, restructuring charges of $24.7 million, and an investment impairment charge of $10.7 million.


Twleve Months Ended June 27, 2015
First
Quarter
 
Second
Quarter(2)
 
Third
Quarter(3)
 
Fourth
Quarter(4)
Net sales
$
951.5

 
$
1,071.7

 
$
1,049.1

 
$
1,531.6

Gross profit
$
321.8

 
$
383.8

 
$
378.8

 
$
628.1

Net income (loss)
$
96.3

 
$
70.2

 
$
(94.9
)
 
$
56.4

Earnings (loss) per share(1):
 
 
 
 
 
 
 
Basic
$
0.72

 
$
0.52

 
$
(0.67
)
 
$
0.39

Diluted
$
0.72

 
$
0.51

 
$
(0.67
)
 
$
0.38

Weighted average shares outstanding
 
 
 
 
 
 
 
Basic
133.9

 
136.3

 
140.8

 
146.3

Diluted
134.4

 
136.8

 
140.8

 
146.8


(1)    The sum of individual per share amounts may not equal due to rounding.
(2) 
Includes losses on derivatives associated with the Omega acquisition of $64.7 million, Omega transaction expenses of $17.8 million, an R&D payment made in connection with a collaborative agreement of $10.0 million, a $9.6 million loss on extinguishment of debt, partially offset by income from transfer of rights agreement of $12.5 million.
(3) 
Includes losses on derivatives associated with the Omega acquisition of $258.2 million and Omega financing fees of $18.6 million.
(4) 
Includes acquisition costs of $18.5 million, an initial payment made in connection with an R&D agreement of $18.0 million, an inventory step up related to the Omega acquisition totaling $15.6 million, and $13.4 million of Mylan defense-related fees.
Twelve Months Ended June 28, 2014
First
Quarter(2)
 
Second
Quarter(3)
 
Third
Quarter(4)
 
Fourth
Quarter(5)
Net sales
$
933.4

 
$
979.0

 
$
1,004.2

 
$
1,144.2

Gross profit
$
356.3

 
$
360.7

 
$
315.0

 
$
415.7

Net income (loss)
$
111.4

 
$
(86.0
)
 
$
48.1

 
$
131.7

Earnings (loss) per share(1):
 
 
 
 
 
 
 
Basic
$
1.18

 
$
(0.87
)
 
$
0.36

 
$
0.98

Diluted
$
1.18

 
$
(0.87
)
 
$
0.36

 
$
0.98

Weighted average shares outstanding
 
 
 
 
 
 
 
Basic
94.2

 
98.7

 
133.7

 
133.8

Diluted
94.7

 
98.7

 
134.3

 
134.3



(1) 
The sum of individual per share amounts may not equal due to rounding.
(2) 
Includes Elan transactions costs of $12.0 million.
(3) 
Includes loss on extinguishment of debt of $165.8 million, Elan transaction costs of $103.2 million, and restructuring charges totaling $14.9 million.
(4) 
Includes restructuring charges totaling $19.5 million.
(5) 
Includes a loss contingency of $15.0 million related to Texas Medicaid and restructuring charges totaling $10.5 million.