LONG-TERM DEBT AND OTHER BORROWINGS (Tables)

9 Months Ended

Mar. 29, 2015

Components of Convertible Notes

As of March 29, 2015 and June 29, 2014, the Convertible Notes consisted of the following:

	March 29, 2015									June 29, 2014
	2016 Notes			2018 Notes			2041 Notes(1)			2016 Notes		2018 Notes		2041 Notes(1)
	(in thousands, except years, percentages, conversion rate, and conversion price)
Carrying value, long-term	$	431,447		$	398,502		$	—		$	419,561	$	387,338	$	—
Carrying value, current portion		—			—			519,366			—		—		516,586
Unamortized discount		18,553			51,498			180,569			30,439		62,662		183,349
Principal amount	$	450,000		$	450,000		$	699,935		$	450,000	$	450,000	$	699,935
Remaining amortization period (years)		1.1			3.1			26.1
Effective interest rate on liability component		4.29	%		5.27	%		4.28	%
Carrying amount of equity component, net of tax	$	76,230		$	104,895		$	328,109
Fair Value of Notes (Level 2)	$	548,825		$	586,350		$	1,470,612
Conversion rate (shares of common stock per $1,000 principal amount of notes)		16.0228			16.0228			28.7547
Conversion price (per share of common stock)	$	62.41		$	62.41		$	34.78
If-converted value in excess of par value	$	69,426		$	69,426		$	749,973

(1) During the quarter-ended March 29, 2015 and June 29, 2014, the market value of the Company’s Common Stock was greater than or equal to 130% of the 2041 Note conversion price for 20 or more trading days of the 30 consecutive trading days preceding the quarter end. As a result, the 2041 Notes are convertible at the option of the holder. The carrying amount of the 2041 Notes was classified in current liabilities and the excess of the amount of cash payable, if converted, over the carrying amount of the 2041 Notes was classified as temporary equity on the Company’s Consolidated Balance Sheets as of March 29, 2015 and June 29, 2014. Upon closure of a conversion period, all 2041 Notes not converted will be reclassified back to noncurrent liabilities and the temporary equity will be reclassified to permanent equity.

Warrants and Convertible Note Hedge Arrangements

The following table presents the details of the warrants and convertible note hedge arrangements as of March 29, 2015:

	2016 Notes		2018 Notes
	(shares in thousands)
Warrants:
Number of shares to be delivered upon exercise		7,210		7,210
Exercise price	$	70.65	$	75.37
Expiration date range		August 15 - October 21, 2016		August 15 - October 23, 2018
Convertible Note Hedge:
Number of shares available from counterparties		7,210		7,210
Exercise price	$	62.41	$	62.41

Components of Senior Notes

As of March 29, 2015 the Senior Notes consisted of the following:

	March 29, 2015
	2020 Notes		2025 Notes
	(in thousands, except years)
Carrying value, long-term	$	497,200	$	496,553
Unamortized discount		2,800		3,447
Principal amount	$	500,000	$	500,000
Remaining amortization period (years)		5.0		10.0
Fair Value of Notes (Level 2)	$	503,160	$	501,700

Schedule of Recognized Interest Cost Relating to Both Contractual Interest Coupon and Amortization of Discount on Liability Component of Notes

The following table presents the amount of interest cost recognized relating to both the contractual interest coupon and amortization of the debt discount, issuance costs, and effective portion of interest rate contracts with respect to the Senior Notes and the Convertible Notes during the three and nine months ended March 29, 2015 and March 30, 2014.

	Three Months Ended				Nine Months Ended
	March 29, 2015		March 30, 2014		March 29, 2015		March 30, 2014
	(in thousands)
Contractual interest coupon	$	8,200	$	6,562	$	21,324	$	19,686
Amortization of discount		8,749		8,313		25,868		24,652
Amortization of issuance costs		603		591		1,784		1,772
Amortization of interest rate contracts		19		—		19		—
Total interest cost recognized	$	17,571	$	15,466	$	48,995	$	46,110