XML 43 R26.htm IDEA: XBRL DOCUMENT v3.19.2
Quarterly Financial Data (Unaudited)
 12 Months Ended
Jun. 29, 2019
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited) [Text Block]
QUARTERLY FINANCIAL DATA (UNAUDITED)

 
Quarter Ended
Fiscal Year 2019
June 29, 2019
 
March 30, 2019
 
December 29, 2018
 
September 29, 2018
 
(in thousands, except percentages and per share data)
Net revenues
$
556,545

 
$
542,383

 
$
576,906

 
$
638,495

Cost of goods sold 
200,154

 
201,552

 
203,858

 
208,259

Gross margin 
$
356,391

 
$
340,831

 
$
373,048

 
$
430,236

Gross margin %
64.0
%
 
62.8
%
 
64.7
%
 
67.4
%
Operating income
$
173,571

 
$
157,140

 
$
182,204

 
$
234,183

     % of net revenues
31.2
%
 
29.0
%
 
31.6
%
 
36.7
%
Net income (1)
$
367,558

 
$
130,613

 
$
131,892

 
$
197,423

 
 
 
 
 
 
 
 
Earnings per share:
 

 
 

 
 

 
 

Basic
$
1.35

 
$
0.48

 
$
0.48

 
$
0.71

Diluted
$
1.33

 
$
0.47

 
$
0.47

 
$
0.70

 
 
 
 
 
 
 
 
Shares used in the calculation of earnings per share:
 

 
 

 
 

 
 

     Basic 
272,382

 
273,221

 
276,252

 
278,045

     Diluted
275,834

 
276,610

 
280,008

 
282,454

 
 

 
 

 
 

 
 

Dividends declared and paid per share 
$
0.46

 
$
0.46

 
$
0.46

 
$
0.46


(1)
The fiscal quarter ended June 29, 2019 includes $251.6 million of net income from the release of uncertain tax position and related interest reserves and a $47.7 million Transition Tax charge. The fiscal quarter ended December 29, 2018 includes a $22.1 million Transition Tax charge. For details, refer to Note 15: “Income Taxes”.

 
Quarter Ended
Fiscal Year 2018
June 30, 2018
 
March 31, 2018
 
December 30, 2017
 
September 23, 2017
 
(in thousands, except percentages and per share data)
Net revenues (1)
$
633,154

 
$
648,599

 
$
622,637

 
$
575,676

Cost of goods sold 
214,486

 
224,653

 
212,961

 
201,845

Gross margin 
$
418,668

 
$
423,946

 
$
409,676

 
$
373,831

Gross margin %
66.1
%
 
65.4
%
 
65.8
%
 
64.9
%
Operating income
$
222,395

 
$
224,838

 
$
201,048

 
$
185,166

     % of net revenues
35.1
%
 
34.7
%
 
32.3
%
 
32.2
%
Net income (loss) (2)
$
194,172

 
$
193,627

 
$
(75,015
)
 
$
154,533

 
 
 
 
 
 
 
 
Earnings (loss) per share:
 

 
 

 
 

 
 

     Basic
$
0.70

 
$
0.69

 
$
(0.27
)
 
$
0.55

     Diluted
$
0.68

 
$
0.68

 
$
(0.27
)
 
$
0.54

 
 
 
 
 
 
 
 
Weighted-average shares used in the calculation of earnings (loss) per share:
 

 
 

 
 

 
 

     Basic 
279,304

 
280,850

 
281,560

 
282,170

     Diluted
283,934

 
285,881

 
281,560

 
286,437

 
 
 
 
 
 
 
 
Dividends declared and paid per share 
$
0.42

 
$
0.42

 
$
0.36

 
$
0.36


(1)
The fiscal quarter ended December 30, 2017, includes an incremental $22.0 million of revenue from beginning to recognize revenue with a certain distributor (less its estimate of future price adjustments and returns) upon shipment to the distributor (also referred to as the sell-in basis of revenue recognition). It also includes a $236.9 million provisional Transition Tax charge.  For details, refer to Note 15: “Income Taxes”.