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LONG-TERM DEBT AND OTHER BORROWINGS (Tables)
 6 Months Ended
Dec. 27, 2015
Debt Disclosure [Abstract]  
Components of Convertible Notes
As of December 27, 2015 and June 28, 2015, the Convertible Notes consisted of the following:
 
December 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
$
—

 
$
410,067

 
$
—

 
$
—

 
$
—

 
$
—

 
Carrying value, current portion
443,704

 
—

 
522,249

 
435,493

 
402,320

 
520,313

Unamortized discount
6,283

 
39,887

 
177,662

 
14,507

 
47,680

 
179,622

Principal amount
$
449,987

 
$
449,954

 
$
699,911

 
$
450,000

 
$
450,000

 
$
699,935

 
 
 
 
 
 
 
 
 
 
 
 
 
Carrying amount of permanent equity component, net of tax
$
76,228

 
$
104,886

 
$
150,415

 
$
61,723

 
$
57,215

 
$
148,487

Carrying amount of temporary equity component, net of tax
$
—

 
$
—

 
$
177,662

 
$
14,507

 
$
47,679

 
$
179,622

 
Remaining amortization period (years)
0.4

 
2.4

 
25.4

 
 
 
 
 
 
 
Effective interest rate on liability component
4.29
%
 
5.27
%
 
4.28
%
 
 
 
 
 
 
Fair Value of Notes (Level 2)
$
583,858

 
$
643,434

 
$
1,634,292

 
 
 
 
 
 
Conversion rate (shares of common stock per $1,000 principal amount of notes)
16.2107

 
16.2107

 
29.0921

 
 
 
 
 
 
Conversion price (per share of common stock)
$
61.69

 
$
61.69

 
$
34.37

 
 
 
 
 
 
If-converted value in excess of par value
$
136,426

 
$
136,416

 
$
936,978

 
 
 
 
 
 
Estimated share dilution using average quarterly stock price $74.11 per share
1,223

 
1,223

 
10,918

 
 
 
 
 
 
Warrants and Convertible Note Hedge Arrangements
The following table presents the details of the warrants and convertible note hedge arrangements as of December 27, 2015:
 
2016 Notes
 
2018 Notes
(shares in thousands)
Warrants:
 
 
 
Underlying shares
7,295

 
7,295

Estimated share dilution using average quarterly stock price $74.11 per share
421

 
—

Exercise price
$
69.83

 
$
74.49

Expiration date range
August 15 - October 21, 2016

 
August 15 - October 23, 2018

 
Convertible Note Hedge:
 
 
 
 
Number of shares available from counterparties
7,295

 
7,295

Exercise price
$
61.69

 
$
61.69
Components of Senior Notes
As of December 27, 2015 and June 28, 2015 the Senior Notes consisted of the following:
 
December 27, 2015
 
June 28, 2015
2020 Notes
 
2025 Notes
 
2020 Notes
 
2025 Notes
(in thousands, except years)
Carrying value, long-term
$
497,348

 
$
497,025

 
$
497,053

 
$
496,907

Unamortized discount
2,652

 
2,975

 
2,947

 
3,093

Principal amount
$
500,000

 
$
500,000

 
$
500,000

 
$
500,000

 
Remaining amortization period (years)
4.2

 
9.2

 
 
 
 
Fair Value of Notes (Level 2)
$
484,030

 
$
473,785

 
 
 
 
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 December 27, 2015 and December 28, 2014.
 
Three Months Ended
 
Six Months Ended
December 27,
2015
 
December 28,
2014
 
December 27,
2015
 
December 28,
2014
(in thousands)
Contractual interest coupon
$
14,750

 
$
6,562

 
$
29,577

 
$
13,124

Amortization of interest discount
9,258

 
8,610

 
18,380

 
17,119

Amortization of issuance costs
14,391

 
590

 
15,043

 
1,181

Amortization of interest rate contract
95

 
—

 
189

 
—

Total interest cost recognized
$
38,494

 
$
15,762

 
$
63,189

 
$
31,424