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Income Taxes
9 Months Ended
Mar. 29, 2014
Income Tax Disclosure [Abstract]  
Income Taxes [Text Block]
INCOME TAXES

In the three and nine months ended March 29, 2014, the Company recorded an income tax provision (benefit) of $(10.6) million and $31.6 million, respectively, compared to an income tax provision of $22.8 million and $92.7 million in the three and nine months ended March 30, 2013, respectively. In addition, the Company recorded income tax that was netted against income from discontinued operations of $0.7 million for the three and nine months ended March 30, 2013. The Company’s effective tax rate for the three and nine months ended March 29, 2014 was (9.5)% and 10.5%, respectively, compared to 15.1% and 21.8%, respectively, for the three and nine months ended March 30, 2013.

The Company's federal statutory tax rate is 35%. The Company's effective tax rates for the three and nine months ended March 29, 2014 were lower than the statutory tax rate primarily because earnings of foreign subsidiaries, generated primarily by our Irish operations, were taxed at lower rates and a $34.6 million one-time discrete benefit for fixed asset tax basis adjustments related to prior year depreciation expense.

The Company’s effective tax rates for the three and nine months ended March 30, 2013 were lower than the statutory tax rate primarily because earnings of foreign subsidiaries, generated primarily by our Irish operations, were taxed at lower rates. The Company’s income tax provision for the three and nine months ended March 30, 2013 included a $7.1 million benefit for research tax credits for fiscal year 2012 and the first two quarters of fiscal year 2013 that were generated by the retroactive extension of the federal research tax credit to January 1, 2012 by legislation that was signed into law on January 2, 2013. The Company's income tax provision for the nine months ended March 30, 2013 included a $21.4 million discrete tax charge for research and development expenses of a foreign subsidiary for which no tax benefit was available.

The Company estimates it is reasonably possible that our liability for unrecognized tax benefits (income taxes payable), including accrued interest and penalties, could decrease within the next 12 months by $26 million due to expected settlements with various tax authorities.

The Company’s federal corporate income tax returns are audited on a recurring basis by the IRS. In fiscal year 2012 the U.S. Internal Revenue Service commenced an audit of the Company's federal corporate income tax returns for fiscal years 2009 through 2011, which is still ongoing.