Quarterly Financial Data

12 Months Ended

Jun. 26, 2021

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited) [Text Block]

QUARTERLY FINANCIAL DATA (UNAUDITED)

	Quarter Ended
Fiscal Year 2021	June 26, 2021			March 27, 2021			December 26, 2020			September 26, 2020
	(in thousands, except percentages and per share data)
Net revenues	$	719,855		$	665,029		$	628,288		$	619,357
Cost of goods sold	235,830			222,144			211,866			202,343
Gross margin	$	484,025		$	442,885		$	416,422		$	417,014
Gross margin %	67.2		%	66.6		%	66.3		%	67.3		%
Operating income	$	283,337		$	247,264		$	213,665		$	201,434
% of net revenues	39.4		%	37.2		%	34.0		%	32.5		%
Net income	$	253,739		$	220,063		$	183,945		$	169,514
Earnings per share:
Basic	$	0.95		$	0.82		$	0.69		$	0.64
Diluted	$	0.93		$	0.81		$	0.68		$	0.63
Shares used in the calculation of earnings per share:
Basic	268,160			267,892			267,299			266,831
Diluted	271,445			271,396			270,792			269,529
Dividends declared and paid per share	$	—		$	—		$	—		$	0.48

	Quarter Ended
Fiscal Year 2020	June 27, 2020			March 28, 2020			December 28, 2019			September 28, 2019
	(in thousands, except percentages and per share data)
Net revenues	$	545,369		$	561,916		$	551,070		$	533,040
Cost of goods sold	183,001			195,479			190,546			189,717
Gross margin	$	362,368		$	366,437		$	360,524		$	343,323
Gross margin %	66.4		%	65.2		%	65.4		%	64.4		%
Operating income	$	177,987		$	183,347		$	169,056		$	156,004
% of net revenues	32.6		%	32.6		%	30.7		%	29.3		%
Net income (1)	$	207,298		$	161,190		$	146,050		$	140,156
Earnings per share:
Basic	$	0.78		$	0.60		$	0.54		$	0.52
Diluted	$	0.77		$	0.59		$	0.53		$	0.51
Weighted-average shares used in the calculation of earnings per share:
Basic	266,639			269,003			270,330			271,388
Diluted	268,777			271,579			273,269			274,436
Dividends declared and paid per share	$	0.48		$	0.48		$	0.48		$	0.48

(1)The fiscal quarter ended June 27, 2020 includes $51.2 million of net income from the release of uncertain tax position and related interest reserves and a $6.5 million Transition Tax charge. For details, refer to Note 17: "Income Taxes".