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Income Taxes (Tables)
12 Months Ended
Jun. 26, 2021
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
Pretax income was as follows:
For the Year Ended
June 26,
2021
June 27,
2020
June 29,
2019
(in thousands)
Domestic pre-tax income$69,061 $72,854 $103,016 
Foreign pre-tax income860,675 605,242 651,405 
Total$929,736 $678,096 $754,421 
Schedule of Components of Income Tax Expense (Benefit)
The provision (benefit) for income taxes consisted of the following:
 For the Year Ended
 June 26,
2021
June 27,
2020
June 29,
2019
 (in thousands)
Federal   
Current$86,965 $1,893 $(114,494)
     Deferred(2,815)9,828 12,874 
State
     Current321 (3,880)9,842 
     Deferred(866)552 2,196 
Foreign 
     Current21,151 15,683 17,562 
     Deferred(2,281)(674)(1,045)
Total provision (benefit) for income taxes$102,475 $23,402 $(73,065)
Schedule of Effective Income Tax Rate Reconciliation
A reconciliation of the Company's Federal statutory tax rate to the Company's effective tax rate is as follows:
 For the Year Ended
 June 26,
2021
June 27,
2020
June 29,
2019
Federal statutory rate21.0 %21.0 %21.0 %
State tax, net of federal benefit0.1 (0.5)1.4 
General business credits(1.0)(1.8)(0.9)
Effect of foreign operations(17.5)(17.1)(15.8)
Stock-based compensation1.0 1.0 0.7 
Interest accrual for uncertain tax positions0.4 0.9 1.1 
Transition Tax— 1.0 9.0 
Global intangible low taxed income9.1 7.9 7.4 
Settlement of uncertain tax positions(1.4)(7.5)(33.4)
Other(0.7)(1.4)(0.2)
Effective tax rate 11.0 %3.5 %(9.7)%
Schedule of Deferred Tax Assets and Liabilities
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The components of the Company's deferred tax assets and liabilities were as follows:
 June 26,
2021
June 27,
2020
 (in thousands)
Deferred tax assets:  
     Accrued compensation$23,061 $8,750 
     Stock-based compensation10,217 10,476 
     Net operating loss carryovers43,559 40,933 
     Tax credit carryovers103,222 97,870 
     Other reserves and accruals not currently deductible for tax purposes17,221 17,580 
     Other 12,311 11,626 
Total deferred tax assets209,591 187,235 
Deferred tax liabilities:  
     Fixed assets and intangible assets cost recovery, net(57,082)(58,293)
     Unremitted earnings of foreign subsidiaries(16,870)(9,968)
     Other(5,681)(3,080)
Total deferred tax liabilities(79,633)(71,341)
Net deferred tax assets before valuation allowance129,958 115,894 
Valuation allowance(143,988)(135,751)
Net deferred tax assets (liabilities)$(14,030)$(19,857)
Summary of Income Tax Contingencies
A reconciliation of the change in gross unrecognized tax benefits, excluding interest, penalties and the federal benefit for state unrecognized tax benefits, is as follows:
 For the Year Ended
 June 26,
2021
June 27,
2020
June 29,
2019
 (in thousands)
Balance as of beginning of year$174,275 $220,397 $591,458 
Tax positions related to current year:
     Addition4,915 3,459 6,974 
Tax positions related to prior year:
Addition1,687 5,626 20,851 
Reduction(7,493)(48,944)(236,705)
Settlements— (6,263)(161,847)
Lapses in statutes of limitations(1,661)— (334)
Balance as of end of year$171,723 $174,275 $220,397 
Summary of Income Tax Examinations
A summary of the fiscal tax years that remain subject to examination, as of June 26, 2021, for the Company's major tax jurisdictions are as follows:
United States - Federal2015-Forward
Ireland2017-Forward