Business, Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Jun. 24, 2012

Business, Basis of Presentation and Summary of Significant Accounting Policies [Abstract]

Interest (Income) Expense, Net

Interest (income) expense, net, for the fiscal years ended June 24, 2012, June 26, 2011, and June 27, 2010 was as follows (in thousands):

	Fiscal Year Ended
	June 24, 2012			June 26, 2011			June 27, 2010
Interest income	$	(842	)	$	(10,679	)	$	(11,748	)
Interest expense		509			565			527
Interest income, net	$	(333	)	$	(10,114	)	$	(11,221	)

Changes in Operating Assets and Liabilities

Components of the changes of operating assets and liabilities for the fiscal years ended June 24, 2012, June 26, 2011 and June 27, 2010 were comprised of the following (in thousands):

	Fiscal Year Ended
	June 24, 2012			June 26, 2011			June 27, 2010
Trade accounts receivable	$	28,504		$	(31,475	)	$	(59,013	)
Inventories		(64,929	)		(86,517	)		(18,259	)
Prepaid expenses and other receivables		(5,757	)		(518	)		(949	)
Accounts payable		(30,088	)		19,714			30,486
Accrued salaries, wages and commissions		(9,952	)		12,788			10,393
Deferred compensation		1,388			1,335			403
Accrued income taxes		998			(2,042	)		(26,378	)
Other accrued expenses		(3,625	)		5,980			(37,417	)
Changes in operating assets and liabilities	$	(83,461	)	$	(80,735	)	$	(100,734	)

Supplemental Disclosures of Cash Flow Information

Supplemental disclosures of cash flow information (in thousands):

	Fiscal Year Ended
	June 24, 2012		June 26, 2011		June 27, 2010
Cash paid (received) during the year for:
Interest	$	511	$	562	$	541
Income taxes		13,810		6,897		(20,172	)
Non-cash investing activities:
Liabilities accrued for property, plant and equipment purchases	$	11,137	$	21,087	$	4,586

Financial Assets and Liabilities Measured and Recorded at Fair Value on a Recurring Basis

The financial assets and liabilities which are measured and recorded at fair value on a recurring basis are included within the following items on the Company's consolidated balance sheet as of June 24, 2012 and June 26, 2011 (in thousands):

	June 24, 2012
Assets and Liabilities:	Total			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Cash and cash equivalents	$	9,997		$	-		$	9,997		$	-
Short-term investments		63,872			33,058			30,814			-
Prepaid expenses and other receivables		622			-			622			-
Long-term investments		15,054			10,001			5,053			-
Other assets		27,358			24,439			85			2,834
Other long-term liabilities		(8,139	)		(8,139	)		-			-
Total	$	108,764		$	59,359		$	46,571		$	2,834
Fair value as a percentage of total		100.0	%		54.6	%		42.8	%		2.6	%
Level 3 as a percentage of total assets											0.2	%

	June 26, 2011
Assets and Liabilities:	Total			Quoted Prices in Active Markets for Identical Assets (Level 1)			Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)
Cash and cash equivalents	$	15,996		$	-		$	15,996		$	-
Short-term investments		185,541			70,292			115,249			-
Long-term investments		13,325			9,530			3,014			781
Other assets		33,004			30,231			-			2,773
Other accrued expenses		(309	)		-			(309	)		-
Other long-term liabilities		(8,038	)		(7,638	)		-			(400	)
Total	$	239,519		$	102,415		$	133,950		$	3,154
Fair value as a percentage of total		100.0	%		42.8	%		55.9	%		1.3	%
Level 3 as a percentage of total assets											0.2	%

Reconciliation of the Beginning and Ending Balance of Items Measured at Fair Value on a Recurring Basis using Significant Unobservable Inputs

The following tables provide a reconciliation of the beginning and ending balance of items measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the fiscal year ended June 24, 2012, and June 26, 2011 (in thousands):

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Liabilities			Assets
	Contingent Consideration			Derivatives		Investments			Total
Beginning balance at June 26, 2011	$	400		$	2,773	$	781		$	3,554
Total gains or (losses) (realized or unrealized):
Included in earnings		(400	)		61		18			79
Included in other comprehensive income		―			―		(190	)		(190	)
Purchases, maturities, and sales:
Purchases/additions		―			―		―			―
Maturities/prepayments		―			―		(78	)		(78	)
Sales		―			―		(531	)		(531	)
Transfers into level 3		―			―		―			―
Transfers out of level 3		―			―		―			―
Ending balance at June 24, 2012	$	―		$	2,834	$	―		$	2,834

1. Business, Basis of Presentation and Summary of Significant Accounting Policies (Continued)

	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
	Liabilities		Assets
	Contingent Consideration		Derivatives		Investments			Total
Beginning balance at June 27, 2010	$	―	$	2,121	$	23,337		$	25,458
Total gains or (losses) (realized or unrealized):
Included in earnings		―		652		7,949			8,601
Included in other comprehensive income		―		―		(5,026	)		(5,026	)
Purchases, maturities, and sales:
Purchases/additions		400		―		1,500			1,500
Maturities/prepayments		―		―		(3,737	)		(3,737	)
Sales		―		―		(21,738	)		(21,738	)
Transfers into level 3		―		―		―			―
Transfers out of level 3		―		―		(1,504	)		(1,504	)
Ending balance at June 26, 2011	$	400	$	2,773	$	781		$	3,554

Cash, Restricted Cash, Cash Equivalents and Investments

Cash, restricted cash, cash equivalents and investments as of June 24, 2012 and June 26, 2011 are summarized as follows (in thousands):

	June 24, 2012		June 26, 2011
Cash and cash equivalents	$	305,423	$	298,731
Short-term investments		63,872		185,541
Restricted cash		1,535		2,071
Long-term investments		15,054		13,325
Total cash, restricted cash, cash equivalents and investments	$	385,884	$	499,668

Inventories

Inventories at June 24, 2012 and June 26, 2011, were comprised of the following (in thousands):

	June 24, 2012		June 26, 2011
Raw materials	$	64,112	$	63,298
Work-in-process		121,190		110,956
Finished goods		109,400		75,920
Total inventories	$	294,702	$	250,174

Property, Plant and Equipment

Property, plant and equipment are stated at cost. Any gain or loss on retirement or disposition is included in operating expenses. Depreciation is provided using the straight-line method based on the estimated useful lives of the assets, ranging from three to forty years. Depreciation and amortization expense for the fiscal years ended June 24, 2012, June 26, 2011 and June 27, 2010 was $83.7 million, $75.3 million and $68.4 million, respectively. Property, plant and equipment at June 24, 2012 and June 26, 2011 were comprised of the following (in thousands):

	June 24, 2012			June 26, 2011			Range of Useful Life
Building and improvements	$	171,481		$	176,838		3 ‑ 40
Equipment		1,128,982			1,039,097		3 ‑ 15
Less: accumulated depreciation and amortization		(909,067	)		(887,798	)
		391,396			328,137
Land		14,660			15,894
Construction-in-progress		55,059			100,728
Total property, plant and equipment	$	461,115		$	444,759

Acquisition-Related Intangible Assets

At June 24, 2012 and June 26, 2011, acquisition‑related intangible assets included the following (in thousands):

	Amortization		June 24, 2012
	Periods(Years)		Gross CarryingAmount		AccumulatedAmortization			Net
Completed technology		4-12	$	52,045	$	(34,556	)	$	17,489
Customer lists		5-12		10,430		(6,463	)		3,967
Intellectual property and other		2-15		16,763		(9,643	)		7,120
Total acquisition‑related intangible assets			$	79,238	$	(50,662	)	$	28,576
	Amortization		June 26, 2011
	Periods(Years)		Gross CarryingAmount		AccumulatedAmortization			Net
Completed technology		4-12	$	52,045	$	(28,560	)	$	23,485
Customer lists		5-12		10,430		(5,455	)		4,975
Intellectual property and other		5-15		16,763		(8,278	)		8,485
Total acquisition‑related intangible assets			$	79,238	$	(42,293	)	$	36,945

Estimated Amortization Expense

As of June 24, 2012, the following table represents the total estimated amortization of intangible assets for the next five succeeding fiscal years (in thousands):

Fiscal Year	Estimated Amortization Expense
2013	$	6,654
2014		6,420
2015		6,220
2016		4,681
2017		1,463
2018 and thereafter		3,138
Total	$	28,576

Goodwill

The carrying amount of goodwill by ongoing segment as of June 24, 2012 and June 26, 2011 was as follows (in thousands):

Business Segments:	June 24,2012		June 26,2011
Power Management Devices	$	-	$	-
Energy Saving Products		33,190		33,190
HiRel		18,959		18,959
Enterprise Power		-		69,421
Automotive Products		-		-
Intellectual Property		-		-
Total goodwill	$	52,149	$	121,570

The changes in the carrying amount of goodwill for the fiscal years ended June 24, 2012 and June 26, 2011 were as follows (in thousands):

Balance, June 26, 2011	$	121,570
Impairment		(69,421	)
Balance, June 24, 2012	$	52,149

Other Accrued Expenses

Other accrued expenses at June 24, 2012 and June 26, 2011 were comprised of the following (in thousands):

	June 24, 2012		June 26, 2011
Sales returns	$	32,185	$	34,112
Accrued accounting and legal costs		10,192		9,943
Deferred revenue		13,634		16,329
Accrued warranty		2,190		3,457
Accrued utilities		2,625		1,840
Accrued repurchase obligation		3,240		3,099
Accrued sales and other taxes		1,862		2,829
Accrued enterprise resource planning system costs		-		8,110
Accrued subcontractor costs		3,386		3,037
Accrued rent		4,381		818
Other		9,469		9,881
Total other accrued expenses	$	83,164	$	93,455

Changes in Warranty Reserve

The following table details the changes in the Company's warranty reserve for the fiscal years ended June 24, 2012, June 26, 2011, and June 27, 2010, which is included in other accrued liabilities in the schedule above (in thousands):

Accrued warranty, June 28, 2009	$	1,767
Accruals for warranties issued during the year		4,000
Changes in estimates related to pre-existing warranties		(1,324	)
Warranty claim settlements		(2,150	)
Accrued warranty, June 27, 2010		2,293
Accruals for warranties issued during the year		5,005
Changes in estimates related to pre-existing warranties		(1,228	)
Warranty claim settlements		(2,613	)
Accrued warranty, June 26, 2011		3,457
Accruals for warranties issued during the year		3,722
Changes in estimates related to pre-existing warranties		(1,135	)
Warranty claim settlements		(3,854	)
Accrued warranty, June 24, 2012	$	2,190

Other Long-Term Liabilities

Other long-term liabilities at June 24, 2012 and June 26, 2011 were comprised of the following (in thousands):

	June 24, 2012		June 26, 2011
Income taxes payable	$	19,543	$	17,092
Divested entities' tax obligations		1,918		3,985
Deferred compensation		10,147		9,324
Other		4,192		5,098
Total other long-term liabilities	$	35,800	$	35,499

Accumulated Other Comprehensive (Loss) Income

The components of accumulated other comprehensive loss as of June 24, 2012, June 26, 2011, and June 27, 2010 were as follows (in thousands):

	June 24, 2012			June 26, 2011			June 27, 2010
Foreign currency translation adjustments	$	(18,499	)	$	(7,904	)	$	(15,680	)
Net unrealized gains (losses) on available-for-sale securities		(755	)		5,290			5,452
Accumulated other comprehensive loss	$	(19,254	)	$	(2,614	)	$	(10,228	)