LONG-TERM DEBT AND OTHER BORROWINGS (Tables)

3 Months Ended

Sep. 27, 2015

As of September 27, 2015 and June 28, 2015, the Convertible Notes consisted of the following:


	September 27, 2015									June 28, 2015
	2016 Notes			2018 Notes			2041 Notes			2016 Notes		2018 Notes		2041 Notes
	(in thousands, except years, percentages, conversion rate, and conversion price)
Carrying value, long-term	$	—		$	406,189		$	—		$	—	$	—	$	—
Carrying value, current portion		439,583			—			521,270			435,493		402,320		520,313
Unamortized discount		10,417			43,811			178,665			14,507		47,680		179,622

Principal amount	$	450,000		$	450,000		$	699,935		$	450,000	$	450,000	$	699,935

Carrying amount of permanent equity component, net of tax	$	76,230		$	104,895		$	149,444		$	61,723	$	57,215	$	148,487
Carrying amount of temporary equity component, net of tax	$	—		$	—		$	178,665		$	14,507	$	47,680	$	179,622
Remaining amortization period (years)		0.6			2.6			25.6
Effective interest rate on liability component		4.29	%		5.27	%		4.28	%
Fair Value of Notes (Level 2)	$	498,375		$	545,625		$	1,362,241
Conversion rate (shares of common stock per $1,000 principal amount of notes)		16.1481			16.1481			28.9797
Conversion price (per share of common stock)	$	61.93		$	61.93		$	34.51
If-converted value in excess of par value	$	8,381		$	8,381		$	579,574
Estimated share dilution using average quarterly stock price $73.74/share		1,164			1,164			10,792

Warrants and Convertible Note Hedge Arrangements

The following table presents the details of the warrants and convertible note hedge arrangements as of September 27, 2015:


	2016 Notes		2018 Notes
	(shares in thousands)
Warrants:
Underlying shares		7,267		7,267
Estimated share dilution using average quarterly stock price $73.74/share		358		—
Exercise price	$	70.11	$	74.78
Expiration date range		August 15 - October 21, 2016		August 15 - October 23, 2018
Convertible Note Hedge:
Number of shares available from counterparties		7,267		7,267
Exercise price	$	61.93	$	61.93

Components of Senior Notes

As of September 27, 2015 and June 28, 2015 the Senior Notes consisted of the following:


	September 27, 2015				June 28, 2015
	2020 Notes		2025 Notes		2020 Notes		2025 Notes
	(in thousands, except years)
Carrying value, long-term	$	497,200	$	496,966	$	497,053	$	496,907
Unamortized discount		2,800		3,034		2,947		3,093

Principal amount	$	500,000	$	500,000	$	500,000	$	500,000

Remaining amortization period (years)		4.5		9.5
Fair Value of Notes (Level 2)	$	488,460	$	486,870

Schedule of Recognized Interest Cost Relating to Both Contractual Interest Coupon and Amortization of Discount on Liability Component of Notes

The following table presents the amount of interest cost recognized relating to both the contractual interest coupon and amortization of the debt discount, issuance costs, and effective portion of interest rate contracts with respect to the Senior Notes and the Convertible Notes during the three months ended September 27, 2015 and September 28, 2014.


	Three Months Ended
	September 27,		September 28,
	2015		2014
	(in thousands)
Contractual interest coupon	$	14,451	$	6,562
Amortization of interest discount		9,122		8,509
Amortization of issuance costs		652		591
Amortization of interest rate contract		94		—

Total interest cost recognized	$	24,319	$	15,662