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FORM 10-Q
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[X]
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QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the quarterly period ended March 26, 2016
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[ ]
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TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the transition period from ________ to ________.
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Delaware
(State or Other Jurisdiction of Incorporation or Organization)
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94-2896096
(I.R.S. Employer I. D. No.)
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Large accelerated filer [x]
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Accelerated filer [ ]
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Non-accelerated filer [ ]
(Do not check if a smaller reporting company) |
Smaller reporting company [ ]
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PART I - FINANCIAL INFORMATION
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Page
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Item 1. Financial Statements (Unaudited)
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Condensed Consolidated Balance Sheets as of March 26, 2016 and June 27, 2015
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Condensed Consolidated Statements of Income for the Three and Nine Months Ended March 26, 2016 and March 28, 2015
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Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended March 26, 2016 and March 28, 2015
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Condensed Consolidated Statements of Cash Flows for the Nine Months Ended March 26, 2016 and March 28, 2015
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Notes to Condensed Consolidated Financial Statements
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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
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Item 3. Quantitative and Qualitative Disclosures About Market Risk
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Item 4. Controls and Procedures
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PART II - OTHER INFORMATION
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Item 1. Legal Proceedings
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Item 1A. Risk Factors
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Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
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Item 3. Defaults Upon Senior Securities
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Item 4. Mine Safety Disclosures
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Item 5. Other Information
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Item 6. Exhibits
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SIGNATURES
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March 26,
2016 |
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June 27,
2015 |
||||
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(in thousands)
|
||||||
ASSETS
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|||||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
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$
|
1,710,340
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$
|
1,550,965
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Short-term investments
|
150,076
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|
75,154
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|
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Total cash, cash equivalents and short-term investments
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1,860,416
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1,626,119
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|
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Accounts receivable, net
|
278,502
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|
|
278,844
|
|
||
Inventories
|
234,603
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|
|
288,474
|
|
||
Deferred tax assets
|
—
|
|
|
77,306
|
|
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Other current assets
|
88,389
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|
|
49,838
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|
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Total current assets
|
2,461,910
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2,320,581
|
|
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Property, plant and equipment, net
|
748,781
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|
1,090,739
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|
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Intangible assets, net
|
188,510
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|
|
261,652
|
|
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Goodwill
|
490,648
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|
|
511,647
|
|
||
Other assets
|
77,886
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|
|
35,557
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|
||
Assets held for sale
|
13,733
|
|
|
8,208
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|
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TOTAL ASSETS
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$
|
3,981,468
|
|
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$
|
4,228,384
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|
|
|
|
|
||||
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
|||||||
Current liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
82,696
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|
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$
|
88,322
|
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Income taxes payable
|
30,907
|
|
|
34,779
|
|
||
Accrued salary and related expenses
|
151,411
|
|
|
181,360
|
|
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Accrued expenses
|
42,562
|
|
|
48,389
|
|
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Deferred revenue on shipments to distributors
|
34,457
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|
|
30,327
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|
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Total current liabilities
|
342,033
|
|
|
383,177
|
|
||
Long-term debt
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1,000,000
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|
|
1,000,000
|
|
||
Income taxes payable
|
451,099
|
|
|
410,378
|
|
||
Deferred tax liabilities
|
643
|
|
|
90,588
|
|
||
Other liabilities
|
48,930
|
|
|
54,221
|
|
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Total liabilities
|
1,842,705
|
|
|
1,938,364
|
|
||
|
|
|
|
||||
Commitments and contingencies (Note 11)
|
|
|
|
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|
||
|
|
|
|
||||
Stockholders’ equity:
|
|
|
|
||||
Common stock and capital in excess of par value
|
280
|
|
|
28,142
|
|
||
Retained earnings
|
2,154,767
|
|
|
2,279,112
|
|
||
Accumulated other comprehensive loss
|
(16,284
|
)
|
|
(17,234
|
)
|
||
Total stockholders’ equity
|
2,138,763
|
|
|
2,290,020
|
|
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TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY
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$
|
3,981,468
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|
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$
|
4,228,384
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|
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Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
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March 26,
2016 |
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March 28,
2015 |
|
March 26,
2016 |
|
March 28,
2015 |
||||||||
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(in thousands, except per share data)
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||||||||||||||
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|
|
|
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|
||||||||
Net revenues
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$
|
555,252
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$
|
577,263
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|
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$
|
1,628,593
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$
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1,724,347
|
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Cost of goods sold
|
236,411
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|
261,995
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|
731,232
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|
|
756,181
|
|
||||
Gross margin
|
318,841
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|
|
315,268
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|
|
897,361
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|
|
968,166
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|
||||
Operating expenses:
|
|
|
|
|
|
|
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||||||||
Research and development
|
119,178
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|
|
123,913
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|
|
353,670
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|
400,220
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|
||||
Selling, general and administrative
|
71,778
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|
|
75,766
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217,416
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235,533
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|
||||
Intangible asset amortization
|
2,538
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|
|
3,977
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|
|
9,667
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|
|
12,459
|
|
||||
Impairment of long-lived assets
|
506
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|
|
5,522
|
|
|
160,153
|
|
|
66,493
|
|
||||
Impairment of goodwill and intangible assets
|
—
|
|
|
—
|
|
|
—
|
|
|
93,010
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|
||||
Severance and restructuring expenses
|
2,552
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|
|
2,824
|
|
|
20,330
|
|
|
17,844
|
|
||||
Other operating expenses (income), net
|
(55,419
|
)
|
|
(2,184
|
)
|
|
(55,351
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)
|
|
275
|
|
||||
Total operating expenses
|
141,133
|
|
|
209,818
|
|
|
705,885
|
|
|
825,834
|
|
||||
Operating income (loss)
|
177,708
|
|
|
105,450
|
|
|
191,476
|
|
|
142,332
|
|
||||
Interest and other income (expense), net
|
(6,373
|
)
|
|
(5,534
|
)
|
|
(22,368
|
)
|
|
(19,610
|
)
|
||||
Income (loss) before provision for income taxes
|
171,335
|
|
|
99,916
|
|
|
169,108
|
|
|
122,722
|
|
||||
Income tax provision (benefit)
|
31,525
|
|
|
20,483
|
|
|
33,972
|
|
|
15,343
|
|
||||
Net income (loss)
|
$
|
139,810
|
|
|
$
|
79,433
|
|
|
$
|
135,136
|
|
|
$
|
107,379
|
|
|
|
|
|
|
|
|
|
||||||||
Earnings (loss) per share:
|
|
|
|
|
|
|
|
||||||||
Basic
|
$
|
0.49
|
|
|
$
|
0.28
|
|
|
$
|
0.47
|
|
|
$
|
0.38
|
|
Diluted
|
$
|
0.48
|
|
|
$
|
0.28
|
|
|
$
|
0.47
|
|
|
$
|
0.37
|
|
|
|
|
|
|
|
|
|
||||||||
Shares used in the calculation of earnings (loss) per share:
|
|
|
|
|
|
|
|
||||||||
Basic
|
285,854
|
|
|
283,418
|
|
|
285,323
|
|
|
283,499
|
|
||||
Diluted
|
289,783
|
|
|
288,840
|
|
|
289,648
|
|
|
288,625
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Dividends declared and paid per share
|
$
|
0.30
|
|
|
$
|
0.28
|
|
|
$
|
0.90
|
|
|
$
|
0.84
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
March 26,
2016 |
|
March 28,
2015 |
|
March 26,
2016 |
|
March 28,
2015 |
||||||||
|
(in thousands)
|
||||||||||||||
Net income (loss)
|
$
|
139,810
|
|
|
$
|
79,433
|
|
|
$
|
135,136
|
|
|
$
|
107,379
|
|
Other comprehensive income (loss), net of tax:
|
|
|
|
|
|
|
|
||||||||
Change in net unrealized gains and losses on available-for-sale securities, net of tax benefit (expense) of $0
|
265
|
|
|
129
|
|
|
(18
|
)
|
|
21
|
|
||||
Change in net unrealized gains and losses on cash flow hedges, net of tax benefit (expense) of $(246), $2, $(76) and $383, respectively
|
808
|
|
|
(454
|
)
|
|
452
|
|
|
(1,557
|
)
|
||||
Change in net unrealized gains and losses on post-retirement benefits, net of tax benefit (expense) of $(81), $(121), $(242) and $(363), respectively
|
172
|
|
|
238
|
|
|
516
|
|
|
715
|
|
||||
Tax effect of the unrealized exchange gains and losses on long-term intercompany receivables
|
—
|
|
|
105
|
|
|
—
|
|
|
(527
|
)
|
||||
Other comprehensive income (loss), net
|
1,245
|
|
|
18
|
|
|
950
|
|
|
(1,348
|
)
|
||||
Total comprehensive income (loss)
|
$
|
141,055
|
|
|
$
|
79,451
|
|
|
$
|
136,086
|
|
|
$
|
106,031
|
|
|
Nine Months Ended
|
||||||
|
March 26,
2016 |
|
March 28,
2015 |
||||
|
(in thousands)
|
||||||
Cash flows from operating activities:
|
|
|
|
||||
Net income (loss)
|
$
|
135,136
|
|
|
$
|
107,379
|
|
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
|
|
|
|
||||
Stock-based compensation
|
53,257
|
|
|
61,782
|
|
||
Depreciation and amortization
|
198,223
|
|
|
206,757
|
|
||
Deferred taxes
|
(34,628
|
)
|
|
(40,300
|
)
|
||
Loss (gain) from sale of property, plant and equipment
|
(2,765
|
)
|
|
1,647
|
|
||
Loss/ (gain) on sale of business
|
(58,944
|
)
|
|
—
|
|
||
Tax benefit related to stock-based compensation
|
3,718
|
|
|
9,016
|
|
||
Impairment of long-lived assets
|
160,153
|
|
|
66,493
|
|
||
Impairment of goodwill and intangible assets
|
—
|
|
|
93,010
|
|
||
Excess tax benefit from stock-based compensation
|
(7,660
|
)
|
|
(10,177
|
)
|
||
Changes in assets and liabilities:
|
|
|
|
||||
Accounts receivable
|
342
|
|
|
17,401
|
|
||
Inventories
|
36,429
|
|
|
(7,942
|
)
|
||
Other current assets
|
(5,069
|
)
|
|
(24,121
|
)
|
||
Accounts payable
|
(8,752
|
)
|
|
(7,075
|
)
|
||
Income taxes payable
|
36,849
|
|
|
23,133
|
|
||
Deferred revenue on shipments to distributors
|
4,130
|
|
|
4,816
|
|
||
All other accrued liabilities
|
(42,605
|
)
|
|
(29,903
|
)
|
||
Net cash provided by (used in) operating activities
|
467,814
|
|
|
471,916
|
|
||
Cash flows from investing activities:
|
|
|
|
||||
Purchase of property, plant and equipment
|
(46,881
|
)
|
|
(60,456
|
)
|
||
Proceeds from sale of property, plant and equipment
|
50,451
|
|
|
26,294
|
|
||
Proceeds from sale of business
|
105,000
|
|
|
—
|
|
||
Purchases of available-for-sale securities
|
(74,948
|
)
|
|
(25,142
|
)
|
||
Purchases of privately-held companies' securities
|
(8,929
|
)
|
|
(200
|
)
|
||
Other investing activities
|
2,380
|
|
|
500
|
|
||
Net cash provided by (used in) investing activities
|
27,073
|
|
|
(59,004
|
)
|
||
Cash flows from financing activities:
|
|
|
|
||||
Excess tax benefit from stock-based compensation
|
7,660
|
|
|
10,177
|
|
||
Repayment of notes payable
|
—
|
|
|
(437
|
)
|
||
Net issuance of restricted stock units
|
(21,397
|
)
|
|
(23,229
|
)
|
||
Proceeds from stock options exercised
|
67,336
|
|
|
49,125
|
|
||
Issuance of common stock under employee stock purchase program
|
14,350
|
|
|
18,653
|
|
||
Repurchase of common stock
|
(146,648
|
)
|
|
(159,125
|
)
|
||
Dividends paid
|
(256,813
|
)
|
|
(238,351
|
)
|
||
Net cash provided by (used in) financing activities
|
(335,512
|
)
|
|
(343,187
|
)
|
||
Net increase (decrease) in cash and cash equivalents
|
159,375
|
|
|
69,725
|
|
||
Cash and cash equivalents:
|
|
|
|
||||
Beginning of period
|
1,550,965
|
|
|
1,322,472
|
|
||
End of period
|
$
|
1,710,340
|
|
|
$
|
1,392,197
|
|
|
Nine Months Ended
|
||||||
|
March 26,
2016 |
|
March 28,
2015 |
||||
|
(in thousands)
|
||||||
|
|
|
|
||||
Supplemental disclosures of cash flow information:
|
|
|
|
||||
Cash paid net during the period for income taxes
|
$
|
26,927
|
|
|
$
|
38,645
|
|
Cash paid for interest
|
$
|
23,131
|
|
|
$
|
23,150
|
|
|
|
|
|
||||
Noncash financing and investing activities:
|
|
|
|
||||
Accounts payable related to property, plant and equipment purchases
|
$
|
8,047
|
|
|
$
|
4,834
|
|
Common stock valued at $40.0 million received as consideration in sale of inventory, property, plant and equipment for the Company's wafer manufacturing facility in San Antonio, Texas
|
$
|
40,000
|
|
|
—
|
|
|
March 26,
2016 |
|
June 27,
2015 |
||||
Accounts Receivable:
|
(in thousands)
|
||||||
Accounts receivable
|
$
|
295,758
|
|
|
$
|
297,130
|
|
Returns and allowances
|
(17,256
|
)
|
|
(18,286
|
)
|
||
|
$
|
278,502
|
|
|
$
|
278,844
|
|
|
March 26,
2016 |
|
June 27,
2015 |
||||
Inventories:
|
(in thousands)
|
||||||
Raw materials
|
$
|
9,610
|
|
|
$
|
12,932
|
|
Work-in-process
|
156,056
|
|
|
199,716
|
|
||
Finished goods
|
68,937
|
|
|
75,826
|
|
||
|
$
|
234,603
|
|
|
$
|
288,474
|
|
|
March 26,
2016 |
|
June 27,
2015 |
||||
Property, plant and equipment:
|
(in thousands)
|
||||||
Land
|
$
|
24,631
|
|
|
$
|
45,040
|
|
Buildings and building improvements
|
276,279
|
|
|
338,394
|
|
||
Machinery and equipment
|
1,401,115
|
|
|
1,970,819
|
|
||
|
1,702,025
|
|
|
2,354,253
|
|
||
Less: accumulated depreciation
|
(953,244
|
)
|
|
(1,263,514
|
)
|
||
|
$
|
748,781
|
|
|
$
|
1,090,739
|
|
|
March 26,
2016 |
|
June 27,
2015 |
||||
Other assets:
|
(in thousands)
|
||||||
Licenses
|
$
|
8,337
|
|
|
$
|
8,665
|
|
Deferred taxes
|
23,122
|
|
|
1,447
|
|
||
Investments in privately-held companies
|
11,807
|
|
|
2,715
|
|
||
Advance on product purchases
|
10,000
|
|
|
—
|
|
||
Other
|
24,620
|
|
|
22,730
|
|
||
|
$
|
77,886
|
|
|
$
|
35,557
|
|
|
March 26,
2016 |
|
June 27,
2015 |
||||
Assets held for sale:
|
(in thousands)
|
||||||
Property, plant and equipment, less accumulated depreciation
|
$
|
13,167
|
|
|
$
|
8,208
|
|
Goodwill
|
566
|
|
|
—
|
|
||
|
$
|
13,733
|
|
|
$
|
8,208
|
|
|
March 26,
2016 |
|
June 27,
2015 |
||||
Accrued salary and related expenses:
|
(in thousands)
|
||||||
Accrued vacation
|
$
|
29,524
|
|
|
$
|
36,906
|
|
Accrued bonus
|
65,725
|
|
|
86,506
|
|
||
Accrued severance and post-employment benefits
|
14,676
|
|
|
25,136
|
|
||
Accrued salaries
|
8,787
|
|
|
16,572
|
|
||
Accrued fringe
|
7,846
|
|
|
6,007
|
|
||
Other
|
24,853
|
|
|
10,233
|
|
||
|
$
|
151,411
|
|
|
$
|
181,360
|
|
|
March 26,
2016 |
|
June 27,
2015 |
||||
Accrued expenses:
|
(in thousands)
|
||||||
Accrued self-insurance
|
$
|
9,850
|
|
|
$
|
10,882
|
|
Accrued contract settlement
|
10,691
|
|
|
10,691
|
|
||
Accrued interest
|
5,566
|
|
|
6,660
|
|
||
Other
|
16,455
|
|
|
20,156
|
|
||
|
$
|
42,562
|
|
|
$
|
48,389
|
|
|
As of March 26, 2016
|
|
As of June 27, 2015
|
||||||||||||||||||||||||||||
|
Fair Value
Measurements Using
|
|
Total
Balance
|
|
Fair Value
Measurements Using
|
|
Total
Balance |
||||||||||||||||||||||||
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
||||||||||||||||||
|
(in thousands)
|
||||||||||||||||||||||||||||||
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Money market funds (1)
|
$
|
1,273,454
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,273,454
|
|
|
$
|
1,156,239
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,156,239
|
|
U.S. treasury bills (2)
|
—
|
|
|
150,076
|
|
|
—
|
|
|
150,076
|
|
|
—
|
|
|
75,154
|
|
|
—
|
|
|
75,154
|
|
||||||||
Foreign currency forward contracts (3)
|
—
|
|
|
929
|
|
|
—
|
|
|
929
|
|
|
—
|
|
|
679
|
|
|
—
|
|
|
679
|
|
||||||||
Common stock (4)
|
—
|
|
|
40,000
|
|
|
—
|
|
|
40,000
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||
Total Assets
|
$
|
1,273,454
|
|
|
$
|
191,005
|
|
|
$
|
—
|
|
|
$
|
1,464,459
|
|
|
$
|
1,156,239
|
|
|
$
|
75,833
|
|
|
$
|
—
|
|
|
$
|
1,232,072
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Foreign currency forward contracts (5)
|
$
|
—
|
|
|
$
|
312
|
|
|
$
|
—
|
|
|
$
|
312
|
|
|
$
|
—
|
|
|
$
|
613
|
|
|
$
|
—
|
|
|
$
|
613
|
|
Total Liabilities
|
$
|
—
|
|
|
$
|
312
|
|
|
$
|
—
|
|
|
$
|
312
|
|
|
$
|
—
|
|
|
$
|
613
|
|
|
$
|
—
|
|
|
$
|
613
|
|
Fair Value Measured and Recorded Using Significant Unobservable Inputs (Level 3)
|
||||||||
|
|
|
|
|
||||
|
|
March 26,
2016 |
|
March 28,
2015 |
||||
Contingent Consideration
|
|
(in thousands)
|
||||||
Beginning balance
|
|
$
|
—
|
|
|
$
|
3,215
|
|
Total gains or losses (realized and unrealized):
|
|
|
|
|
||||
Included in earnings
|
|
—
|
|
|
384
|
|
||
Payments
|
|
—
|
|
|
(3,599
|
)
|
||
Ending balance
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
|
|
|
||||
Changes in unrealized losses (gains) included in earnings related to liabilities still held as of period end
|
|
$
|
—
|
|
|
$
|
—
|
|
|
March 26, 2016
|
|
June 27, 2015
|
||||||||||||||||||||||||||||
|
Amortized Cost
|
|
Gross Unrealized Gain
|
|
Gross Unrealized Loss
|
|
Estimated Fair Value
|
|
Amortized Cost
|
|
Gross Unrealized Gain
|
|
Gross Unrealized Loss
|
|
Estimated Fair Value
|
||||||||||||||||
|
(in thousands)
|
||||||||||||||||||||||||||||||
Available-for-sale investments
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
U.S. Treasury bills
|
$
|
149,960
|
|
|
$
|
116
|
|
|
$
|
—
|
|
|
$
|
150,076
|
|
|
$
|
75,022
|
|
|
$
|
132
|
|
|
$
|
—
|
|
|
$
|
75,154
|
|
Total available-for-sale investments
|
$
|
149,960
|
|
|
$
|
116
|
|
|
$
|
—
|
|
|
$
|
150,076
|
|
|
$
|
75,022
|
|
|
$
|
132
|
|
|
$
|
—
|
|
|
$
|
75,154
|
|
|
March 26,
2016 |
|
June 27,
2015 |
||||
|
(in thousands)
|
||||||
2.5% fixed rate notes due November 2018
|
$
|
500,000
|
|
|
$
|
500,000
|
|
3.375% fixed rate notes due March 2023
|
500,000
|
|
|
500,000
|
|
||
Notes denominated in Euro
|
|
|
|
||||
Term fixed rate notes (2.0%) due on September 30, 2015
|
—
|
|
|
1,024
|
|
||
Total
|
1,000,000
|
|
|
1,001,024
|
|
||
Less: Current portion (included in “Accrued expenses”)
|
—
|
|
|
(1,024
|
)
|
||
Total long-term debt
|
$
|
1,000,000
|
|
|
$
|
1,000,000
|
|
|
Three Months Ended
|
||||||||||||||||||||||||||||||
|
March 26, 2016
|
|
March 28, 2015
|
||||||||||||||||||||||||||||
|
Stock Options
|
|
Restricted Stock Units
|
|
Employee Stock Purchase Plan
|
|
Total
|
|
Stock Options
|
|
Restricted Stock Units
|
|
Employee Stock Purchase Plan
|
|
Total
|
||||||||||||||||
|
(in thousands)
|
||||||||||||||||||||||||||||||
Cost of goods sold
|
$
|
120
|
|
|
$
|
1,182
|
|
|
$
|
629
|
|
|
$
|
1,931
|
|
|
$
|
351
|
|
|
$
|
2,136
|
|
|
$
|
588
|
|
|
$
|
3,075
|
|
Research and development
|
895
|
|
|
7,587
|
|
|
1,522
|
|
|
10,004
|
|
|
637
|
|
|
7,208
|
|
|
1,620
|
|
|
9,465
|
|
||||||||
Selling, general and administrative
|
795
|
|
|
4,507
|
|
|
638
|
|
|
5,940
|
|
|
764
|
|
|
4,628
|
|
|
655
|
|
|
6,047
|
|
||||||||
Pre-tax stock-based compensation expense
|
$
|
1,810
|
|
|
$
|
13,276
|
|
|
$
|
2,789
|
|
|
$
|
17,875
|
|
|
$
|
1,752
|
|
|
$
|
13,972
|
|
|
$
|
2,863
|
|
|
$
|
18,587
|
|
Less: income tax effect
|
|
|
|
|
|
|
1,989
|
|
|
|
|
|
|
|
|
3,249
|
|
||||||||||||||
Net stock-based compensation expense
|
|
|
|
|
|
|
|
|
$
|
15,886
|
|
|
|
|
|
|
|
|
$
|
15,338
|
|
|
Nine Months Ended
|
||||||||||||||||||||||||||||||
|
March 26, 2016
|
|
March 28, 2015
|
||||||||||||||||||||||||||||
|
Stock Options
|
|
Restricted Stock Units
|
|
Employee Stock Purchase Plan
|
|
Total
|
|
Stock Options
|
|
Restricted Stock Units
|
|
Employee Stock Purchase Plan
|
|
Total
|
||||||||||||||||
|
(in thousands)
|
||||||||||||||||||||||||||||||
Cost of goods sold
|
$
|
735
|
|
|
$
|
5,140
|
|
|
$
|
1,808
|
|
|
$
|
7,683
|
|
|
$
|
1,051
|
|
|
$
|
6,186
|
|
|
$
|
1,662
|
|
|
$
|
8,899
|
|
Research and development
|
2,608
|
|
|
20,671
|
|
|
3,904
|
|
|
27,183
|
|
|
4,372
|
|
|
24,455
|
|
|
4,182
|
|
|
33,009
|
|
||||||||
Selling, general and administrative
|
2,415
|
|
|
14,271
|
|
|
1,705
|
|
|
18,391
|
|
|
3,223
|
|
|
14,889
|
|
|
1,762
|
|
|
19,874
|
|
||||||||
Pre-tax stock-based compensation expense
|
$
|
5,758
|
|
|
$
|
40,082
|
|
|
$
|
7,417
|
|
|
$
|
53,257
|
|
|
$
|
8,646
|
|
|
$
|
45,530
|
|
|
$
|
7,606
|
|
|
$
|
61,782
|
|
Less: income tax effect
|
|
|
|
|
|
|
8,046
|
|
|
|
|
|
|
|
|
9,886
|
|
||||||||||||||
Net stock-based compensation expense
|
|
|
|
|
|
|
$
|
45,211
|
|
|
|
|
|
|
|
|
$
|
51,896
|
|
|
Stock Options
|
|
|
Nine Months Ended
|
|
|
March 28,
2015 |
|
Expected holding period (in years)
|
4.8
|
|
Risk-free interest rate
|
1.6
|
%
|
Expected stock price volatility
|
26.7
|
%
|
Dividend yield
|
3.2
|
%
|
|
Number of
Shares
|
|
Weighted Average Exercise Price
|
|
Weighted Average Remaining Contractual Term (in Years)
|
|
Aggregate Intrinsic Value (1)
|
|||||
Balance at June 27, 2015
|
10,173,016
|
|
|
$
|
25.83
|
|
|
|
|
|
||
Options Granted
|
—
|
|
|
—
|
|
|
|
|
|
|||
Options Exercised
|
(2,664,507
|
)
|
|
25.59
|
|
|
|
|
|
|||
Options Cancelled
|
(871,493
|
)
|
|
33.19
|
|
|
|
|
|
|||
Balance at March 26, 2016
|
6,637,016
|
|
|
$
|
24.96
|
|
|
3.2
|
|
$
|
68,806,616
|
|
Exercisable, March 26, 2016
|
3,412,184
|
|
|
$
|
22.12
|
|
|
2.3
|
|
$
|
44,887,722
|
|
Vested and expected to vest, March 26, 2016
|
6,447,265
|
|
|
$
|
24.85
|
|
|
3.1
|
|
$
|
67,202,987
|
|
(1)
|
Aggregate intrinsic value represents the difference between the exercise price and the closing price per share of the Company’s common stock on March 24, 2016, the last business day preceding the fiscal quarter-end, multiplied by the number of options outstanding, exercisable or vested and expected to vest as of March 26, 2016.
|
|
Number of
Shares
|
|
Weighted Average
Remaining Contractual Term (in Years) |
|
Aggregate Intrinsic
Value (1)
|
|||
Balance at June 27, 2015
|
7,129,985
|
|
|
|
|
|
||
Restricted stock units and other awards granted
|
2,635,734
|
|
|
|
|
|
||
Restricted stock units and other awards released
|
(1,567,397
|
)
|
|
|
|
|
||
Restricted stock units and other awards cancelled
|
(1,179,667
|
)
|
|
|
|
|
||
Balance at March 26, 2016
|
7,018,655
|
|
|
2.7
|
|
$
|
250,779,416
|
|
Outstanding and expected to vest, March 26, 2016
|
5,955,859
|
|
|
2.7
|
|
$
|
210,003,595
|
|
(1)
|
Aggregate intrinsic value for RSUs and other awards represents the closing price per share of the Company’s common stock on March 24, 2016, the last business day preceding the fiscal quarter-end, multiplied by the number of RSUs outstanding or expected to vest as of March 26, 2016.
|
|
Number of
Shares
|
|
Weighted Average
Remaining Contractual Term (in Years) |
|
Aggregate Intrinsic
Value (1)
|
|||
Balance at June 27, 2015
|
414,840
|
|
|
|
|
|
||
Market stock units granted
|
361,684
|
|
|
|
|
|
||
Market stock units released
|
—
|
|
|
|
|
|
||
Market stock units cancelled
|
(99,356
|
)
|
|
|
|
|
||
Balance at March 26, 2016
|
677,168
|
|
|
3.2
|
|
$
|
23,876,944
|
|
Outstanding and expected to vest, March 26, 2016
|
557,244
|
|
|
3.1
|
|
$
|
19,648,440
|
|
(1)
|
Aggregate intrinsic value for MSUs represents the closing price per share of the Company’s common stock on March 24, 2016, the last business day preceding the fiscal quarter-end, multiplied by the number of MSUs outstanding or expected to vest as of March 26, 2016.
|
|
ESPP
|
||||||
|
Three Months Ended
|
|
Nine Months Ended
|
||||
|
March 26,
2016 |
|
March 28,
2015 |
|
March 26,
2016 |
|
March 28,
2015 |
Expected holding period (in years)
|
0.5
|
|
0.5
|
|
0.5
|
|
0.5
|
Risk-free interest rate
|
0.2% - 0.4%
|
|
0.1%
|
|
0.1% - 0.4%
|
|
0.1%
|
Expected stock price volatility
|
24.2% - 33.1%
|
|
21.1% - 26.4%
|
|
21.8% - 33.1%
|
|
20.7% - 26.4%
|
Dividend yield
|
3.3% - 3.6%
|
|
3.4% - 3.5%
|
|
3.3% - 3.6%
|
|
3.4% - 3.7%
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
March 26,
2016 |
|
March 28,
2015 |
|
March 26,
2016 |
|
March 28,
2015 |
||||||||
|
(in thousands, except per share data)
|
||||||||||||||
Numerator for basic earnings (loss) per share and diluted earnings (loss) per share
|
|
|
|
|
|
|
|
||||||||
Net income (loss)
|
$
|
139,810
|
|
|
$
|
79,433
|
|
|
$
|
135,136
|
|
|
$
|
107,379
|
|
|
|
|
|
|
|
|
|
||||||||
Denominator for basic earnings (loss) per share
|
285,854
|
|
|
283,418
|
|
|
285,323
|
|
|
283,499
|
|
||||
Effect of dilutive securities:
|
|
|
|
|
|
|
|
||||||||
Stock options, ESPP, RSUs, and MSUs
|
3,929
|
|
|
5,422
|
|
|
4,325
|
|
|
5,126
|
|
||||
Denominator for diluted earnings (loss) per share
|
289,783
|
|
|
288,840
|
|
|
289,648
|
|
|
288,625
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Earnings (loss) per share
|
|
|
|
|
|
|
|
||||||||
Basic
|
$
|
0.49
|
|
|
$
|
0.28
|
|
|
$
|
0.47
|
|
|
$
|
0.38
|
|
Diluted
|
$
|
0.48
|
|
|
$
|
0.28
|
|
|
$
|
0.47
|
|
|
$
|
0.37
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
|
March 26,
2016 |
|
March 28,
2015 |
|
March 26,
2016 |
|
March 28,
2015 |
||||||||
|
|
(in thousands)
|
|
|
|
|
||||||||||
United States
|
|
$
|
59,749
|
|
|
$
|
68,640
|
|
|
$
|
183,442
|
|
|
$
|
213,571
|
|
China
|
|
204,840
|
|
|
232,827
|
|
|
626,497
|
|
|
715,147
|
|
||||
Rest of Asia
|
|
171,607
|
|
|
170,014
|
|
|
494,744
|
|
|
490,834
|
|
||||
Europe
|
|
104,218
|
|
|
89,254
|
|
|
282,072
|
|
|
254,211
|
|
||||
Rest of World
|
|
14,838
|
|
|
16,528
|
|
|
41,838
|
|
|
50,584
|
|
||||
|
|
$
|
555,252
|
|
|
$
|
577,263
|
|
|
$
|
1,628,593
|
|
|
$
|
1,724,347
|
|
|
March 26,
2016 |
|
June 27,
2015 |
||||
|
(in thousands)
|
||||||
United States
|
$
|
472,801
|
|
|
$
|
783,148
|
|
Philippines
|
145,863
|
|
|
166,405
|
|
||
Thailand
|
49,410
|
|
|
56,776
|
|
||
Rest of World
|
80,707
|
|
|
84,410
|
|
||
|
$
|
748,781
|
|
|
$
|
1,090,739
|
|
(in thousands)
|
Unrealized Gains and Losses on Intercompany Receivables
|
|
Unrealized Gains and Losses on Post-Retirement Benefits
|
|
Cumulative Translation Adjustment
|
|
Unrealized Gains and Losses on Cash Flow Hedges
|
|
Unrealized Gains and Losses on Available-For-Sale Securities
|
|
Total
|
||||||||||||
June 27, 2015
|
$
|
(6,280
|
)
|
|
$
|
(10,004
|
)
|
|
$
|
(1,136
|
)
|
|
$
|
53
|
|
|
$
|
133
|
|
|
$
|
(17,234
|
)
|
Other comprehensive income (loss) before reclassifications
|
—
|
|
|
—
|
|
|
—
|
|
|
(392
|
)
|
|
(18
|
)
|
|
(410
|
)
|
||||||
Amounts reclassified out of accumulated other comprehensive loss (income)
|
—
|
|
|
758
|
|
|
—
|
|
|
920
|
|
|
—
|
|
|
1,678
|
|
||||||
Tax effects
|
—
|
|
|
(242
|
)
|
|
—
|
|
|
(76
|
)
|
|
—
|
|
|
(318
|
)
|
||||||
Other comprehensive income (loss)
|
—
|
|
|
516
|
|
|
—
|
|
|
452
|
|
|
(18
|
)
|
|
950
|
|
||||||
March 26, 2016
|
$
|
(6,280
|
)
|
|
$
|
(9,488
|
)
|
|
$
|
(1,136
|
)
|
|
$
|
505
|
|
|
$
|
115
|
|
|
$
|
(16,284
|
)
|
(in thousands)
|
Unrealized Gains and Losses on Intercompany Receivables
|
|
Unrealized Gains and Losses on Post-Retirement Benefits
|
|
Cumulative Translation Adjustment
|
|
Unrealized Gains and Losses on Cash Flow Hedges
|
|
Unrealized Gains and Losses on Available-For-Sale Securities
|
|
Total
|
||||||||||||
June 28, 2014
|
$
|
(5,753
|
)
|
|
$
|
(10,373
|
)
|
|
$
|
(1,136
|
)
|
|
$
|
(11
|
)
|
|
$
|
100
|
|
|
$
|
(17,173
|
)
|
Other comprehensive income (loss) before reclassifications
|
—
|
|
|
—
|
|
|
—
|
|
|
(6,386
|
)
|
|
21
|
|
|
(6,365
|
)
|
||||||
Amounts reclassified out of accumulated other comprehensive loss (income)
|
—
|
|
|
1,078
|
|
|
—
|
|
|
4,446
|
|
|
—
|
|
|
5,524
|
|
||||||
Tax effects
|
(527
|
)
|
|
(363
|
)
|
|
—
|
|
|
383
|
|
|
—
|
|
|
(507
|
)
|
||||||
Other comprehensive income (loss)
|
(527
|
)
|
|
715
|
|
|
—
|
|
|
(1,557
|
)
|
|
21
|
|
|
(1,348
|
)
|
||||||
March 28, 2015
|
$
|
(6,280
|
)
|
|
$
|
(9,658
|
)
|
|
$
|
(1,136
|
)
|
|
$
|
(1,568
|
)
|
|
$
|
121
|
|
|
$
|
(18,521
|
)
|
|
Nine Months Ended
|
||||||
|
March 26,
2016 |
|
March 28,
2015 |
||||
Product warranty liability
|
(in thousands)
|
||||||
Beginning balance
|
$
|
13,436
|
|
|
$
|
21,296
|
|
Accruals for warranties
|
3,319
|
|
|
1,589
|
|
||
Payments
|
(9,047
|
)
|
|
(7,892
|
)
|
||
Changes in estimate
|
903
|
|
|
320
|
|
||
Ending balance
|
$
|
8,611
|
|
|
$
|
15,313
|
|
|
|
|
|
||||
Less: Current portion
|
8,611
|
|
|
11,013
|
|
||
Non-current portion
|
$
|
—
|
|
|
$
|
4,300
|
|
Asset
|
|
Life
|
Intellectual property
|
|
1-10 years
|
Customer relationships
|
|
4-10 years
|
Trade name
|
|
3-4 years
|
Patents
|
|
5 years
|
|
March 26,
2016 |
|
June 27,
2015 |
||||||||||||||||||||
|
Original
Cost
|
|
Accumulated
Amortization
|
|
Net
|
|
Original
Cost
|
|
Accumulated
Amortization
|
|
Net
|
||||||||||||
|
(in thousands)
|
||||||||||||||||||||||
Intellectual property
|
$
|
347,262
|
|
|
$
|
246,468
|
|
|
$
|
100,794
|
|
|
$
|
435,962
|
|
|
$
|
276,175
|
|
|
$
|
159,787
|
|
Customer relationships
|
96,830
|
|
|
71,933
|
|
|
24,897
|
|
|
120,230
|
|
|
82,774
|
|
|
37,456
|
|
||||||
Trade name
|
8,500
|
|
|
6,086
|
|
|
2,414
|
|
|
8,500
|
|
|
4,886
|
|
|
3,614
|
|
||||||
Patents
|
2,500
|
|
|
1,297
|
|
|
1,203
|
|
|
2,500
|
|
|
907
|
|
|
1,593
|
|
||||||
Total amortizable purchased intangible assets
|
455,092
|
|
|
325,784
|
|
|
129,308
|
|
|
567,192
|
|
|
364,742
|
|
|
202,450
|
|
||||||
IPR&D
|
59,202
|
|
|
—
|
|
|
59,202
|
|
|
59,202
|
|
|
—
|
|
|
59,202
|
|
||||||
Total purchased intangible assets
|
$
|
514,294
|
|
|
$
|
325,784
|
|
|
$
|
188,510
|
|
|
$
|
626,394
|
|
|
$
|
364,742
|
|
|
$
|
261,652
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
March 26,
2016 |
|
March 28,
2015 |
|
March 26,
2016 |
|
March 28,
2015 |
||||||||
|
(in thousands)
|
||||||||||||||
Cost of goods sold
|
$
|
11,829
|
|
|
$
|
18,750
|
|
|
$
|
43,201
|
|
|
$
|
56,250
|
|
Intangible asset amortization
|
2,538
|
|
|
3,977
|
|
|
9,667
|
|
|
12,459
|
|
||||
Total intangible asset amortization expenses
|
$
|
14,367
|
|
|
$
|
22,727
|
|
|
$
|
52,868
|
|
|
$
|
68,709
|
|
Fiscal Year
|
|
Amount
|
||
|
|
(in thousands)
|
||
Remaining three months of 2016
|
|
$
|
14,367
|
|
2017
|
|
49,091
|
|
|
2018
|
|
41,563
|
|
|
2019
|
|
13,278
|
|
|
2020
|
|
3,358
|
|
|
2021
|
|
2,888
|
|
|
Thereafter
|
|
4,763
|
|
|
Total intangible assets
|
|
$
|
129,308
|
|
|
Balance, June 27, 2015
|
|
Nine Months Ended
March 26, 2016
|
|
Balance, March 26, 2016
|
||||||||||||||
|
Charges
|
|
Cash Payments
|
|
Change in Estimates
|
|
|||||||||||||
|
(in thousands)
|
||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
||||||||||
Severance - San Jose Fab Shutdown (1)
|
$
|
6,725
|
|
|
$
|
973
|
|
|
$
|
(7,166
|
)
|
|
$
|
(532
|
)
|
|
$
|
—
|
|
Severance - Other plans (1)
|
11,496
|
|
|
22,352
|
|
|
(22,862
|
)
|
|
(3,123
|
)
|
|
7,863
|
|
|||||
Total
|
$
|
18,221
|
|
|
$
|
23,325
|
|
|
$
|
(30,028
|
)
|
|
$
|
(3,655
|
)
|
|
$
|
7,863
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
March 26,
2016 |
|
March 28,
2015 |
|
March 26,
2016 |
|
March 28,
2015 |
||||||||
|
(in thousands, except per share data)
|
||||||||||||||
Operating income (loss), as reported
|
$
|
177,708
|
|
|
$
|
105,450
|
|
|
$
|
191,476
|
|
|
$
|
142,332
|
|
Operating income (loss), excluding accelerated depreciation expense
|
182,189
|
|
|
115,284
|
|
|
241,621
|
|
|
161,061
|
|
||||
Effect of change in estimate
|
$
|
(4,481
|
)
|
|
$
|
(9,834
|
)
|
|
$
|
(50,145
|
)
|
|
$
|
(18,729
|
)
|
|
|
|
|
|
|
|
|
||||||||
Net income (loss), as reported
|
$
|
139,810
|
|
|
$
|
79,433
|
|
|
$
|
135,136
|
|
|
$
|
107,379
|
|
Net income (loss), excluding accelerated depreciation expense
|
145,648
|
|
|
89,007
|
|
|
183,352
|
|
|
126,709
|
|
||||
Effect of change in estimate
|
$
|
(5,838
|
)
|
|
$
|
(9,574
|
)
|
|
$
|
(48,216
|
)
|
|
$
|
(19,330
|
)
|
|
|
|
|
|
|
|
|
||||||||
Basic earnings (loss) per share, as reported
|
$
|
0.49
|
|
|
$
|
0.28
|
|
|
$
|
0.47
|
|
|
$
|
0.38
|
|
Diluted earnings (loss) per share, as reported
|
$
|
0.48
|
|
|
$
|
0.28
|
|
|
$
|
0.47
|
|
|
$
|
0.37
|
|
|
|
|
|
|
|
|
|
||||||||
Basic earnings (loss) per share, excluding accelerated depreciation expense
|
$
|
0.51
|
|
|
$
|
0.31
|
|
|
$
|
0.64
|
|
|
$
|
0.45
|
|
Diluted earnings (loss) per share, excluding accelerated depreciation expense
|
$
|
0.50
|
|
|
$
|
0.31
|
|
|
$
|
0.63
|
|
|
$
|
0.44
|
|
|
|
|
|
|
|
|
|
||||||||
Effect of change in estimate - basic earnings (loss) per share
|
$
|
(0.02
|
)
|
|
$
|
(0.03
|
)
|
|
$
|
(0.17
|
)
|
|
$
|
(0.07
|
)
|
Effect of change in estimate - diluted earnings (loss) per share
|
$
|
(0.02
|
)
|
|
$
|
(0.03
|
)
|
|
$
|
(0.16
|
)
|
|
$
|
(0.07
|
)
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||
|
March 26,
2016 |
|
March 28,
2015 |
|
March 26,
2016 |
|
March 28,
2015 |
||||
|
|
|
|
|
|
||||||
Net revenues
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
|
100.0
|
%
|
Cost of goods sold
|
42.6
|
%
|
|
45.4
|
%
|
|
44.9
|
%
|
|
43.9
|
%
|
Gross margin
|
57.4
|
%
|
|
54.6
|
%
|
|
55.1
|
%
|
|
56.1
|
%
|
Operating expenses:
|
|
|
|
|
|
|
|
||||
Research and development
|
21.5
|
%
|
|
21.5
|
%
|
|
21.7
|
%
|
|
23.2
|
%
|
Selling, general and administrative
|
12.9
|
%
|
|
13.1
|
%
|
|
13.3
|
%
|
|
13.7
|
%
|
Intangible asset amortization
|
0.4
|
%
|
|
0.7
|
%
|
|
0.6
|
%
|
|
0.7
|
%
|
Impairment of long-lived assets
|
0.1
|
%
|
|
1.0
|
%
|
|
9.8
|
%
|
|
3.9
|
%
|
Impairment of goodwill and intangible assets
|
—
|
%
|
|
—
|
%
|
|
—
|
%
|
|
5.4
|
%
|
Severance and restructuring expenses
|
0.5
|
%
|
|
0.5
|
%
|
|
1.3
|
%
|
|
1.0
|
%
|
Other operating expenses (income), net
|
(10.0
|
)%
|
|
(0.4
|
)%
|
|
(3.4
|
)%
|
|
—
|
%
|
Total operating expenses
|
25.4
|
%
|
|
36.4
|
%
|
|
43.3
|
%
|
|
47.9
|
%
|
Operating income
|
32.0
|
%
|
|
18.2
|
%
|
|
11.8
|
%
|
|
8.2
|
%
|
Interest and other income (expense), net
|
(1.1
|
)%
|
|
(1.0
|
)%
|
|
(1.4
|
)%
|
|
(1.1
|
)%
|
Income before provision for income taxes
|
30.9
|
%
|
|
17.2
|
%
|
|
10.4
|
%
|
|
7.1
|
%
|
Income tax provision (benefit)
|
5.7
|
%
|
|
3.5
|
%
|
|
2.1
|
%
|
|
0.9
|
%
|
Net income (loss)
|
25.2
|
%
|
|
13.7
|
%
|
|
8.3
|
%
|
|
6.2
|
%
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||
|
March 26,
2016 |
|
March 28,
2015 |
|
March 26,
2016 |
|
March 28,
2015 |
||||
Cost of goods sold
|
0.3
|
%
|
|
0.5
|
%
|
|
0.5
|
%
|
|
0.5
|
%
|
Research and development
|
1.8
|
%
|
|
1.6
|
%
|
|
1.7
|
%
|
|
1.9
|
%
|
Selling, general and administrative
|
1.1
|
%
|
|
1.0
|
%
|
|
1.1
|
%
|
|
1.2
|
%
|
|
3.2
|
%
|
|
3.1
|
%
|
|
3.3
|
%
|
|
3.6
|
%
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
March 26,
2016 |
|
March 28,
2015 |
|
March 26,
2016 |
|
March 28
2015 |
||||||||
|
(in thousands, except per share data)
|
||||||||||||||
Gross margin, as reported
|
$
|
318,841
|
|
|
$
|
315,268
|
|
|
$
|
897,361
|
|
|
$
|
968,166
|
|
Accelerated depreciation expense
|
4,066
|
|
|
9,834
|
|
|
49,730
|
|
|
18,729
|
|
||||
Gross margin, without accelerated depreciation expense
|
$
|
322,907
|
|
|
$
|
325,102
|
|
|
$
|
947,091
|
|
|
$
|
986,895
|
|
|
|
|
|
|
|
|
|
||||||||
Gross margin %, as reported
|
57.4
|
%
|
|
54.6
|
%
|
|
55.1
|
%
|
|
56.1
|
%
|
||||
Gross margin %, without accelerated depreciation expense
|
58.2
|
%
|
|
56.3
|
%
|
|
58.2
|
%
|
|
57.2
|
%
|
||||
Impact percentage
|
(0.8
|
)%
|
|
(1.7
|
)%
|
|
(3.1
|
)%
|
|
(1.1
|
)%
|
|
Nine Months Ended
|
||||||
|
March 26,
2016 |
|
March 28,
2015 |
||||
|
(in thousands)
|
||||||
Net cash provided by (used in) operating activities
|
$
|
467,814
|
|
|
$
|
471,916
|
|
Net cash provided by (used in) investing activities
|
27,073
|
|
|
(59,004
|
)
|
||
Net cash provided by (used in) financing activities
|
(335,512
|
)
|
|
(343,187
|
)
|
||
Net increase (decrease) in cash and cash equivalents
|
$
|
159,375
|
|
|
$
|
69,725
|
|
|
Issuer Repurchases of Equity Securities
|
||||||||||||
|
(in thousands, except per share amounts)
|
||||||||||||
|
Total Number of Shares Purchased
|
|
Average Price Paid per Share
|
|
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
|
|
Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs
|
||||||
Dec. 27, 2015 - Jan. 23, 2016
|
245
|
|
|
$
|
34.28
|
|
|
245
|
|
|
$
|
495,528
|
|
Jan. 24, 2016 - Feb. 20, 2016
|
988
|
|
|
32.07
|
|
|
988
|
|
|
463,836
|
|
||
Feb. 21, 2016 - Mar. 26, 2016
|
1,283
|
|
|
34.07
|
|
|
1,283
|
|
|
420,133
|
|
||
Total for the quarter
|
2,516
|
|
|
$
|
33.30
|
|
|
2,516
|
|
|
$
|
420,133
|
|
31.1
|
Certification of Chief Executive Officer Pursuant to Rule 13a-14(a) and 15d-14(a) of the Securities Exchange Act
|
31.2
|
Certification of Chief Financial Officer Pursuant to Rule 13a-14(a) and 15d-14(a) of the Securities Exchange Act
|
32.1
|
Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350 (1)
|
32.2
|
Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350 (1)
|
101.INS
|
XBRL Instance Document
|
101.SCH
|
XBRL Taxonomy Extension Schema Document
|
101.CAL
|
XBRL Taxonomy Extension Calculation Linkbase Document
|
101.DEF
|
XBRL Taxonomy Extension Definition Linkbase Document
|
101.LAB
|
XBRL Taxonomy Extension Label Linkbase Document
|
101.PRE
|
XBRL Taxonomy Extension Presentation Linkbase Document
|
(1) This exhibit is being furnished rather than filed and shall not be deemed incorporated by reference into any filing, in accordance with Item 601 of Regulation S-K.
|
April 22, 2016
|
|
MAXIM INTEGRATED PRODUCTS, INC.
|
|
|
|
|
|
By:/s/ David A. Caron
|
|
|
|
|
|
David A. Caron
|
|
|
Vice President and Chief Accounting Officer
|
|
|
(Chief Accounting Officer and Duly Authorized Officer)
|
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
---|
DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
---|
No information found
Customers
Customer name | Ticker |
---|---|
IES Holdings, Inc. | IESC |
Price
Yield
Owner | Position | Direct Shares | Indirect Shares |
---|