Quarterly Results of Operations (Tables)

12 Months Ended

Jun. 28, 2013

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations

First			Second			Third			Fourth
2013(1)
Revenue, net	$	4,035		$	3,824		$	3,764		$	3,728
Gross profit		1,193			1,059			1,061			1,050
Operating income (loss)		592			478			417			(221	)
Net income (loss)		519			335			391			(265	)
Basic income (loss) per common share	$	2.11		$	1.38		$	1.64		$	(1.12	)
Diluted income (loss) per common share	$	2.06		$	1.36		$	1.60		$	(1.12	)
2012(2)
Revenue, net	$	2,694		$	1,995		$	3,035		$	4,754
Gross profit		541			648			977			1,472
Operating income		259			162			542			808
Net income		239			145			483			745
Basic income per common share	$	1.03		$	0.62		$	2.00		$	2.93
Diluted income per common share	$	1.01		$	0.61		$	1.96		$	2.87

(1) The fourth quarter of 2013 included a $681 million charge related to an arbitration award. The first, second, third and fourth quarters of 2013 included $26 million, $41 million, $63 million and $8 million, respectively, of employee termination benefits and other charges. The second quarter of 2013 included an $88 million charge related to California Proposition 39, to reduce the Company’s previously recognized California deferred tax assets as of December 28, 2012.

(2) The second and third quarters of 2012 included $199 million and $15 million of charges related to the flooding, net of recoveries, respectively. The third quarter of 2012 included $91 million for costs recognized upon the sale of inventory that was written-up to fair value. The third quarter of 2012 included $16 million of tax effects related to the aforementioned costs related to inventory. The fourth quarter of 2012 included $80 million of impairment and other charges.