XML 58 R41.htm IDEA: XBRL DOCUMENT v3.7.0.1
Restructuring Activities (Tables)
 12 Months Ended
Jun. 24, 2017
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs [Table Text Block]
The Company has accruals for severance and restructuring payments within Accrued salary and related expenses in the accompanying Consolidated Balance Sheets. The following table summarizes changes in the accruals associated with these restructuring activities during the fiscal years ended June 24, 2017 and June 25, 2016:
 
 
Balance, June 27, 2015
 
Fiscal 2016
 
Balance, June 25, 2016
 
Fiscal 2017
 
Balance, June 24, 2017
Charges
 
Cash Payments
 
Change in Estimates
 
Charges
 
Cash Payments
 
Change in Estimates
 
 
(in thousands)
Severance - San Jose Fab Shutdown
 
$
6,725

 
$
973

 
$
(7,166
)
 
$
(532
)
 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Severance - Other plans (1)
 
11,496

 
27,478

 
(27,934
)
 
(3,462
)
 
7,578

 
12,671

 
(19,506
)
 
(217
)
 
526

Total
 
$
18,221


$
28,451


$
(35,100
)

$
(3,994
)
 
$
7,578

 
$
12,671

 
$
(19,506
)
 
$
(217
)
 
$
526

(1) Charges and change in estimates are included in Severance and restructuring expenses in the accompanying Consolidated Statements of Income.
Schedule of Change in Accounting Estimate [Table Text Block]
Due to the above mentioned restructuring activities, the Company recorded accelerated depreciation resulting from the change in estimated useful lives of certain long lived assets included in restructuring plans. In all periods that accelerated depreciation expense was recorded, this resulted in additional expense and therefore impacted operating income (loss), net income (loss) and earnings per share as presented in the table below.

 
For the Years Ended
 
June 24,
2017
 
June 25,
2016
 
June 27,
2015
 
(in thousands, except per share data)
 
 
 
 
 
 
Operating income (loss), as reported
$
694,777

 
$
313,849

 
$
237,280

Operating income (loss), excluding accelerated depreciation expense
699,003

 
368,475

 
288,774

Effect of change in estimate
$
(4,226
)
 
$
(54,626
)
 
$
(51,494
)
 
 
 
 
 
 
Net income (loss), as reported
$
571,613

 
$
227,475

 
$
206,038

Net income (loss), excluding accelerated depreciation expense
575,547

 
283,129

 
259,182

Effect of change in estimate
$
(3,934
)
 
$
(55,654
)
 
$
(53,144
)
 
 
 
 
 
 
Basic earnings (loss) per share, as reported
$
2.02

 
$
0.80

 
$
0.73

Diluted earnings (loss) per share, as reported
$
1.98

 
$
0.79

 
$
0.71

 
 
 
 
 
 
Basic earnings (loss) per share, excluding accelerated depreciation expense
$
2.03

 
$
0.99

 
$
0.91

Diluted earnings (loss) per share, excluding accelerated depreciation expense
$
2.00

 
$
0.98

 
$
0.90

 
 
 
 
 
 
Effect of change in estimate - basic earnings (loss) per share
$
(0.01
)
 
$
(0.19
)
 
$
(0.18
)
Effect of change in estimate - diluted earnings (loss) per share
$
(0.02
)
 
$
(0.19
)
 
$
(0.19
)