Income Taxes (Tables)

12 Months Ended

Jul. 01, 2011

Income Taxes (Tables) [Abstract]

Provisions for income taxes

The provisions for income taxes are summarized as follows:

	2011			2010			2009
	(In millions)
Current:
United States	$	229.1		$	270.5		$	227.3
International		4.9			1.0			1.7
State and local		30.0			17.4			20.1
		264.0			288.9			249.1
Deferred:
United States		31.2			(11.5	)		(58.3	)
International		(0.1	)		(2.4	)		(4.0	)
State and local		(1.5	)		3.7			(13.9	)
		29.6			(10.2	)		(76.2	)
	$	293.6		$	278.7		$	172.9

Components of deferred income tax assets (liabilities)

The components of deferred income tax assets (liabilities) were as follows:

	2011						2010
	Current			Non-Current			Current			Non-Current
	(In millions)
Inventory valuations	$	30.1		$	—		$	23.8		$	—
Accruals		142.1			66.0			126.7			68.4
Depreciation		—			(50.6	)		—			(28.4	)
Domestic tax loss and credit carryforwards		—			38.3			—			27.2
International tax loss and credit carryforwards		—			39.6			—			41.4
International research and development expense deferrals		—			39.8			—			41.5
Acquired intangibles		—			(95.8	)		—			(28.8	)
Share-based compensation		—			40.0			—			32.5
Unfunded pension liability		—			15.7			—			16.2
Unrecognized tax benefits		—			9.0			—			6.9
All other — net		1.7			(10.5	)		(2.3	)		8.2
		173.9			91.5			148.2			185.1
Valuation allowance		(2.9	)		(85.8	)		(2.9	)		(77.4	)
	$	171.0		$	5.7		$	145.3		$	107.7

Reconciliation of the United States statutory income tax rate to our effective income tax rate

A reconciliation of the United States statutory income tax rate to our effective income tax rate follows:

	2011			2010			2009
U.S. statutory income tax rate		35.0	%		35.0	%		35.0	%
State taxes		1.6			1.1			0.3
International income		0.4			0.2			0.3
Settlement of tax audits		—			—			(1.3	)
Research and development tax credit		(1.2	)		(0.7	)		(2.0	)
U.S. production activity benefit		(2.6	)		(1.6	)		(2.4	)
Impairment of goodwill and other long-lived assets		—			—			6.6
Other items		0.1			(0.8	)		(0.9	)
Effective income tax rate		33.3	%		33.2	%		35.6	%

Reconciliation of the beginning and ending amounts of unrecognized tax benefits

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:

	2011			2010			2009
	(In millions)
Balance at beginning of the fiscal year	$	33.2		$	23.1		$	42.9
Additions based on tax positions taken during the current fiscal year		3.2			6.1			2.3
Additions based on tax positions taken during prior fiscal years		18.4			7.6			0.4
Decreases based on tax positions taken during prior fiscal years		(3.1	)		(0.2	)		(19.3	)
Decreases from settlements		(1.7	)		—			(3.0	)
Decreases from lapse of statutes of limitations		(1.6	)		(3.4	)		(0.2	)
Balance at end of the fiscal year	$	48.4		$	33.2		$	23.1