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Income Taxes (Tables)

12 Months Ended

Jun. 30, 2012

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income taxes from continuing operations consisted of the following:



	For the Year Ended
	June 30, 2012			June 25, 2011		June 26, 2010
	(in thousands)
Federal
Current	$	143,903		$	44,579	$	151,786
Deferred	16,767			118,351		12,340
State
Current	2,877			781		4,092
Deferred	3,523			4,204		(1,464		)
Foreign
Current	14,757			2,810		14,345
Deferred	(4,012		)	1,937		(6,175		)
	$	177,815		$	172,662	$	174,924

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]



	For the Year Ended
	June 30, 2012		June 25, 2011		June 26, 2010

Federal statutory rate	35.0	%	35.0	%	35.0	%
State tax, net of federal benefit	1.1		0.7		0.4
General business credits	(0.5	)	(1.5	)	(1.2	)
Domestic production deduction benefit	—		(0.1	)	(2.1	)
Foreign earnings and losses taxed or benefitted at different rates	(3.9	)	(4.6	)	21.0
Stock-based compensation	2.3		1.3		3.0
Executive compensation	—		0.1		0.1
Release of unrecognized tax benefits	(0.4	)	(4.1	)	—
Interest accrual for unrecognized tax benefits	0.6		(1.6	)	0.9
Other	(0.8	)	0.9		1.2

Income tax rate	33.4	%	26.1	%	58.3	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The components of the Company's deferred tax assets and liabilities are as follows:



	For the Year Ended
	June 30, 2012			June 25, 2011
	(in thousands)
Deferred tax assets:
Inventory valuation and reserves	$	8,160		$	11,768
Distributor related accruals and sales return and allowance accruals	16,426			21,334
Deferred revenue	1,475			2,233
Accrued compensation	44,524			56,467
Stock-based compensation	59,524			73,295
Net operating loss carryovers	40,750			20,827
Tax credit carryovers	43,005			43,285
Other reserves and accruals not currently deductible for tax purposes	17,225			10,608
Other	8,102			8,940

Total deferred tax assets	$	239,191		$	248,757

Deferred tax liabilities:
Fixed assets cost recovery, net	(260,374		)	(257,647		)
Other	(11,822		)	(12,168		)

Net deferred tax assets /(liabilities) before valuation allowance	(33,005		)	(21,058		)
Valuation allowance	(61,550		)	(44,562		)

Net deferred tax assets/(liabilities)	$	(94,555	)	$	(65,620	)

Summary of Income Tax Contingencies [Table Text Block]

A reconciliation of the change in gross unrecognized tax benefits, excluding interest, penalties and the federal benefit for state unrecognized tax benefits, is as follows:



	For the Year Ended
	June 30, 2012			June 25, 2011
	(in thousands)
Balance as of beginning of year	$	117,413		$	151,464
Tax positions related to current year:
Addition	56,257			59,345
Tax positions related to prior year:
Addition	60,221			7,935
Reduction	(2,979		)	(21,399		)
Settlements	—			(16,636		)
Lapses in statutes of limitations	(2,005		)	(63,296		)

Balance as of end of year	$	228,907		$	117,413

Summary of Income Tax Examinations [Table Text Block]

A summary of the fiscal tax years that remain subject to examination, as of June 30, 2012, for the Company's major tax jurisdictions are:



United States - Federal	2009 - forward
United States - Various States	2008 - forward
Japan	2006 - forward
Philippines	2009 - forward
Thailand	2002 - forward
United Kingdom	2010 - forward
Ireland	2010 - forward

- Definition

Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions.

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- Definition

Tabular disclosure of income tax examinations that an enterprise is currently subject to or that have been completed in the current period typically including a description of the examination, the jurisdiction conducting the examination, the tax year(s) under examination, the likelihood of an unfavorable settlement, the range of possible losses, the liability recorded, the increase or decrease in the liability from the prior period, and any penalties and interest that have been recorded.

+ References+ Details