Consolidating Financial Information (Tables)

12 Months Ended

Apr. 01, 2017

Consolidating Financial Information [Abstract]



	Condensed Consolidating Balance Sheet
	April 1, 2017
(in thousands)	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	226,186	$	319,277	$	—		$	545,463
Accounts receivable, less allowance	—			57,874		300,074		—			357,948
Intercompany accounts and note receivable	—			392,075		36,603		(428,678		)	—
Inventories	—			131,225		322,559		(23,330		)	430,454
Prepaid expenses	—			29,032		7,197		—			36,229
Other receivables	—			7,239		58,008		—			65,247
Other current assets	—			25,534		730		—			26,264
Total current assets	—			869,165		1,044,448		(452,008		)	1,461,605
Property and equipment, net	—			1,078,761		314,910		(1,739		)	1,391,932
Goodwill	—			1,121,941		1,051,973		—			2,173,914
Intangible assets, net	—			599,618		800,945		—			1,400,563
Long-term investments	—			25,971		9,523		—			35,494
Long-term intercompany accounts and notes receivable	—			447,613		138,398		(586,011		)	—
Investment in subsidiaries	6,142,568			2,596,172		—		(8,738,740		)	—
Other non-current assets	820			33,249		24,746		—			58,815
Total assets	$	6,143,388		$	6,772,490	$	3,384,943	$	(9,778,498	)	$	6,522,323
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	—		$	111,799	$	104,447	$	—		$	216,246
Intercompany accounts and notes payable	—			36,603		392,075		(428,678		)	—
Accrued liabilities	23,150			111,700		35,734		—			170,584
Other current liabilities	—			55		31,943		—			31,998
Total current liabilities	23,150			260,157		564,199		(428,678		)	418,828
Long-term debt	989,154			—		—		—			989,154
Deferred tax liabilities	(83,333		)	171,284		43,560		—			131,511
Long-term intercompany accounts and notes payable	317,695			138,398		129,918		(586,011		)	—
Other long-term liabilities	—			35,014		51,094		—			86,108
Total liabilities	1,246,666			604,853		788,771		(1,014,689		)	1,625,601
Total stockholders’ equity	4,896,722			6,167,637		2,596,172		(8,763,809		)	4,896,722
Total liabilities and stockholders’ equity	$	6,143,388		$	6,772,490	$	3,384,943	$	(9,778,498	)	$	6,522,323



	Condensed Consolidating Balance Sheet
	April 2, 2016
(in thousands)	Parent Company			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current assets:
Cash and cash equivalents	$	—		$	220,633	$	205,248	$	—		$	425,881
Short-term investments	—			186,808		—		—			186,808
Accounts receivable, less allowance	—			203,488		112,868		—			316,356
Intercompany accounts and notes receivable	—			532,508		404,330		(936,838		)	—
Inventories	—			186,627		325,346		(84,422		)	427,551
Prepaid expenses	—			56,151		7,699		—			63,850
Other receivables	—			37,033		10,347		—			47,380
Other current assets	—			40,866		518		—			41,384
Total current assets	—			1,464,114		1,066,356		(1,021,260		)	1,509,210
Property and equipment, net	—			807,586		239,495		(193		)	1,046,888
Goodwill	—			1,118,642		1,017,055		—			2,135,697
Intangible assets, net	—			786,314		1,026,201		—			1,812,515
Long-term investments	—			26,050		—		—			26,050
Long-term intercompany accounts and notes receivable	—			564,397		267,823		(832,220		)	—
Investment in subsidiaries	6,151,120			2,588,302		—		(8,739,422		)	—
Other non-current assets	1,091			39,478		25,890		—			66,459
Total assets	$	6,152,211		$	7,394,883	$	3,642,820	$	(10,593,095	)	$	6,596,819
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	—		$	141,792	$	66,508	$	(2,936	)	$	205,364
Intercompany accounts and notes payable	—			404,330		532,508		(936,838		)	—
Accrued liabilities	25,445			93,609		18,835		—			137,889
Other current liabilities	—			20,122		10,426		—			30,548
Total current liabilities	25,445			659,853		628,277		(939,774		)	373,801
Long-term debt	988,130			—		—		—			988,130
Deferred tax liabilities	(93,340		)	195,462		50,038		—			152,160
Long-term intercompany accounts and notes payable	232,303			267,823		332,094		(832,220		)	—
Other long-term liabilities	—			39,288		43,768		—			83,056
Total liabilities	1,152,538			1,162,426		1,054,177		(1,771,994		)	1,597,147
Total stockholders’ equity	4,999,673			6,232,457		2,588,643		(8,821,101		)	4,999,672
Total liabilities and stockholders’ equity	$	6,152,211		$	7,394,883	$	3,642,820	$	(10,593,095	)	$	6,596,819

Condensed consolidating statements of operations and comprehensive income (loss)



	Condensed Consolidating Statement of Operations and Comprehensive (Loss) Income
	Fiscal Year 2017
(in thousands)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	1,316,576		$	2,918,865		$	(1,202,867	)	3,032,574
Cost of goods sold	—			979,190			2,023,715			(1,105,843		)	1,897,062
Gross profit	—			337,386			895,150			(97,024		)	1,135,512
Operating expenses:
Research and development	35,379			40,918			416,869			(22,330		)	470,836
Selling, general and administrative	53,465			253,531			370,812			(132,220		)	545,588
Other operating expense	—			16,065			8,409			6,555			31,029
Total operating expenses	88,844			310,514			796,090			(147,995		)	1,047,453
Income (loss) from operations	(88,844		)	26,872			99,060			50,971			88,059
Interest expense	(57,344		)	(2,619		)	(3,129		)	4,213			(58,879		)
Interest income	—			4,457			759			(4,004		)	1,212
Other (expense) income	—			426			(1,999		)	(1,514		)	(3,087		)
Income (loss) before income taxes	(146,188		)	29,136			94,691			49,666			27,305
Income tax (expense) benefit	46,003			(63,893		)	(25,973		)	—			(43,863		)
Income in subsidiaries	83,627			68,718			—			(152,345		)	—
Net (loss) income	$	(16,558	)	$	33,961		$	68,718		$	(102,679	)	$	(16,558	)

Comprehensive (loss) income	$	(17,731	)	$	34,014		$	67,492		$	(101,506	)	$	(17,731	)



	Condensed Consolidating Statement of Operations and Comprehensive (Loss) Income
	Fiscal Year 2016
(in thousands)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	2,212,062		$	2,762,150		$	(2,363,486	)	2,610,726
Cost of goods sold	—			1,778,336			2,060,702			(2,277,865		)	1,561,173
Gross profit	—			433,726			701,448			(85,621		)	1,049,553
Operating expenses:
Research and development	67,158			106,560			304,219			(29,174		)	448,763
Selling, general and administrative	72,358			151,814			360,593			(50,666		)	534,099
Other operating expense	—			50,928			2,447			1,348			54,723
Total operating expenses	139,516			309,302			667,259			(78,492		)	1,037,585
Income (loss) from operations	(139,516		)	124,424			34,189			(7,129		)	11,968
Interest expense	(21,895		)	(2,419		)	(3,029		)	4,027			(23,316		)
Interest income	—			2,650			3,003			(3,585		)	2,068
Other income (expense)	—			5,467			(298		)	1,249			6,418
(Loss) income before income taxes	(161,411		)	130,122			33,865			(5,438		)	(2,862		)
Income tax (expense) benefit	44,014			(49,751		)	(20,246		)	—			(25,983		)
Income in subsidiaries	88,552			13,619			—			(102,171		)	—
Net (loss) income	$	(28,845	)	$	93,990		$	13,619		$	(107,609	)	$	(28,845	)

Comprehensive (loss) income	$	(31,854	)	$	89,738		$	14,862		$	(104,600	)	$	(31,854	)



	Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)
	Fiscal Year 2015
(in thousands)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	2,523,495		$	1,408,913		$	(2,221,442	)	1,710,966
Cost of goods sold	—			1,910,297			1,260,814			(2,149,453		)	1,021,658
Gross profit	—			613,198			148,099			(71,989		)	689,308
Operating expenses:
Research and development	18,335			202,337			45,751			(8,929		)	257,494
Selling, general and administrative	23,776			160,538			90,055			(24,483		)	249,886
Other operating expense	—			55,774			3,475			213			59,462
Total operating expenses	42,111			418,649			139,281			(33,199		)	566,842
Income (loss) from operations	(42,111		)	194,549			8,818			(38,790		)	122,466
Interest expense	—			(2,770		)	(1,583		)	2,932			(1,421		)
Interest income	—			1,009			2,281			(2,840		)	450
Other (expense) income	—			(906		)	694			(42		)	(254		)
Income (loss) before income taxes	(42,111		)	191,882			10,210			(38,740		)	121,241
Income tax benefit (expense)	13,350			73,268			(11,556		)	—			75,062
Income (loss) in subsidiaries	35,243			(1,346		)	—			(33,894		)	—
Net income (loss)	$	6,482		$	263,804		$	(1,346	)	$	(72,634	)	$	196,303

Comprehensive income (loss)	$	6,482		$	267,724		$	(4,605	)	$	(72,637	)	$	196,964

Condensed consolidating statements of cash flows



	Condensed Consolidating Statement of Cash Flows
	Fiscal Year 2017
(in thousands)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net cash provided by operating activities	$	165,660		$	175,988		$	435,172		$	—		$	776,820
Investing activities:
Purchase of available-for-sale securities	—			(469		)	—			—			(469		)
Proceeds from maturities of available-for-sale securities	—			186,793			—			—			186,793
Purchase of a business, net of cash acquired	—			—			(118,133		)	—			(118,133		)
Purchase of property and equipment	—			(424,175		)	(128,527		)	—			(552,702		)
Other investing activities	—			3,924			(9,900		)	—			(5,976		)
Net transactions with related parties	—			61,891			—			(61,891		)	—
Net cash used in investing activities	—			(172,036		)	(256,560		)	(61,891		)	(490,487		)
Financing activities:
Excess tax benefit from exercises of stock options	65			—			—			—			65
Proceeds from the issuance of common stock	59,148			—			—			—			59,148
Repurchase of common stock, including transaction costs	(209,357		)	—			—			—			(209,357		)
Tax withholding paid on behalf of employees for restricted stock units	(15,516		)	—			—			—			(15,516		)
Other financing activities	—			14			—			—			14
Net transactions with related parties	—			1,587			(63,478		)	61,891			—
Net cash (used in) provided by financing activities	(165,660		)	1,601			(63,478		)	61,891			(165,646		)
Effect of exchange rate changes on cash	—			—			(1,105		)	—			(1,105		)
Net increase (decrease) in cash and cash equivalents	—			5,553			114,029			—			119,582
Cash and cash equivalents at the beginning of the period	—			220,633			205,248			—			425,881
Cash and cash equivalents at the end of the period	$	—		$	226,186		$	319,277		$	—		$	545,463



	Condensed Consolidating Statement of Cash Flows
	Fiscal Year 2016
(in thousands)	Parent Company			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net cash provided by operating activities	$	282,955		$	273,171		$	131,801		$	—	$	687,927
Investing activities:
Purchase of available-for-sale securities	—			(340,527		)	—			—		(340,527		)
Proceeds from maturities and sales of available-for-sale securities	—			390,009			—			—		390,009
Purchase of property and equipment	—			(244,817		)	(70,807		)	—		(315,624		)
Other investing activities	—			(12,830		)	258			—		(12,572		)
Net cash used in investing activities	—			(208,165		)	(70,549		)	—		(278,714		)
Financing activities:
Proceeds from debt issuances	1,175,000			—			—			—		1,175,000
Payment of debt	(175,000		)	—			—			—		(175,000		)
Excess tax benefit from exercises of stock options	935			—			—			—		935
Debt issuance costs	(13,588		)	—			—			—		(13,588		)
Proceeds from the issuance of common stock	51,875			—			—			—		51,875
Repurchase of common stock, including transaction costs	(1,300,009		)	—			—			—		(1,300,009		)
Tax withholding paid on behalf of employees for restricted stock units	(22,168		)	—			—			—		(22,168		)
Other financing activities	—			103			—			—		103
Net transactions with related parties	—			1,192			(1,192		)	—		—
Net cash (used in) provided by financing activities	(282,955		)	1,295			(1,192		)	—		(282,852		)
Effect of exchange rate changes on cash	—			—			(294		)	—		(294		)
Net increase in cash and cash equivalents	—			66,301			59,766			—		126,067
Cash and cash equivalents at the beginning of the period	—			154,332			145,482			—		299,814
Cash and cash equivalents at the end of the period	$	—		$	220,633		$	205,248		$	—	$	425,881



	Condensed Consolidating Statements of Cash Flows
	Fiscal Year 2015
(in thousands)	Parent Company			Guarantor Subsidiaries			Non-guarantor Subsidiaries			Eliminations		Consolidated
Net cash provided by operating activities	$	25,059		$	187,786		$	92,779		$	—	$	305,624
Investing activities:
Purchase of available-for-sale securities	—			(370,734		)	(17,000		)	—		(387,734		)
Proceeds from maturities of available-for-sale securities	—			234,185			27,000			—		261,185
Purchase of business, net of cash acquired	—			165,665			58,659			—		224,324
Purchase of property and equipment	—			(116,868		)	(52,994		)	—		(169,862		)
Other investing	—			8,489			(344		)	—		8,145
Net cash (used in) provided by investing activities	—			(79,263		)	15,321			—		(63,942		)
Financing activities:
Payment of debt	—			(87,503		)	—			—		(87,503		)
Excess tax benefit from exercises of stock options	13,993			—			—			—		13,993
Debt issuance cost	—			(36		)	—			—		(36		)
Proceeds from the issuance of common stock	46,072			—			—			—		46,072
Repurchase of common stock, including transaction costs	(50,874		)	—			—			—		(50,874		)
Tax withholding paid on behalf of employees for restricted stock units	(34,250		)	—			—			—		(34,250		)
Other financing	—			(300		)	—			—		(300		)
Net transactions with related parties	—			1,376			(1,376		)	—		—
Net cash used in financing activities	(25,059		)	(86,463		)	(1,376		)	—		(112,898		)
Effect of exchange rate changes on cash	—			—			(868		)	—		(868		)
Net increase in cash and cash equivalents	—			22,060			105,856			—		127,916
Cash and cash equivalents at the beginning of the period	—			132,272			39,626			—		171,898
Cash and cash equivalents at the end of the period	$	—		$	154,332		$	145,482		$	—	$	299,814