XML 76 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Jun. 30, 2012
Jun. 25, 2011
Jun. 26, 2010
Cash flows from operating activities:      
Net income $ 386,727 $ 489,009 $ 125,139
Adjustments to reconcile net income to net cash provided by operating activities:      
Stock-based compensation 89,867 94,297 93,525
Depreciation and amortization 211,096 205,062 167,523
Deferred taxes 30,759 140,084 29,090
In process research & development 1,600 0 0
Loss from sale of property, plant and equipment (7,648) 12,946 272
Loss (gain) from sale of equity investments (1,811) 0 148
Tax benefit (shortfall) related to stock-based compensation 3,112 30,546 (15,748)
Excess tax benefit related to stock-based compensation (17,482) (12,869) (7,005)
Net of Asset Impairment Charges 30,645 0 8,291
Cash Provided by (Used in) Operating Activities, Discontinued Operations (45,372) 0 0
Changes in assets and liabilities:      
Accounts receivable (19,262) 43,256 (124,258)
Inventories (432) (29,435) 22,681
Other current assets (16,757) 53,255 (79,319)
Accounts payable 25,515 (4,746) 41,191
Income taxes payable 134,967 (45,318) 17,384
Deferred income on shipments to distributors (10,601) 11,102 9,020
Accrued liabilities - litigation settlement 0 (173,000) 173,000
All other accrued liabilities (38,201) 47,265 30,019
Net cash provided by operating activities 756,722 861,454 490,953
Cash flows from investing activities:      
Purchases of property, plant and equipment (264,348) (175,253) (123,901)
Proceeds from sale of property, plant, and equipment 16,883 27,624 2,802
Acquisitions (168,544) (80,918) (316,784)
Cash Provided by (Used in) Investing Activities, Discontinued Operations 56,607 0 0
Other non-current assets 0 0 (3,998)
Purchases of available-for-sale securities (25,108) (49,787) 0
Payments to Acquire Investments (3,480) 0 0
Proceeds from sales/maturities of available-for-sale securities 0 0 200,233
Proceeds from Divestiture of Businesses 3,225 0 0
Net cash used in investing activities (384,765) (278,334) (241,648)
Cash flows from financing activities      
Excess tax benefit from stock-based compensation plans 17,482 12,869 7,005
Mortgage liability 0 (3,237) (40)
Proceeds from derivative litigation settlement 0 0 2,460
Repayment of notes payable (20,806) (1,422) 0
Long-term debt, net of issuance costs 0 0 298,578
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options 54,029 24,856 (5,484)
Repurchase of common stock (246,412) (231,012) (190,905)
Dividends paid (257,731) (249,145) (243,755)
Net cash used in financing activities (453,438) (447,091) (132,141)
Net increase (decrease) in cash and cash equivalents (81,481) 136,029 117,164
Cash and cash equivalents:      
Beginning of year 962,541 826,512 709,348
End of year 881,060 962,541 826,512
Supplemental disclosures of cash flow information:      
Cash (refunded) paid, net during the year for income taxes 39,827 (15,529) 217,140
Cash paid for interest 10,890 10,264 0
Noncash financing and investing activities:      
Accounts payable related to property, plant and equipment purchases $ 26,079 $ 22,841 $ 6,894