Income Taxes (Tables)

12 Months Ended

Jul. 02, 2011

Income Taxes [Abstract]

Components of provision for income taxes expense (benefit)

	Years Ended
	July 2,			July 3,		June 27,
	2011			2010		2009
	(Thousands)
Current:
Federal	$	64,476		$	61,892	$	69,835
State and local		11,724			9,789		7,689
Foreign		109,731			56,608		50,007
Total current taxes		185,931			128,289		127,531
Deferred:
Federal		41,029			24,251		(55,743	)
State and local		5,273			1,290		(5,250	)
Foreign		(30,336	)		20,883		(31,794	)
Total deferred taxes		15,966			46,424		(92,787	)
Provision for income taxes	$	201,897		$	174,713	$	34,744

Reconciliation between federal statutory tax rate and effective tax rate

	Years Ended
	July 2,			July 3,			June 27,
	2011			2010			2009
Federal statutory rate		35.0	%		35.0	%		(35.0	)%
State and local income taxes, net of federal benefit		1.5			1.2			0.3
Foreign tax rates, net of valuation allowances		(5.3	)		(6.6	)		(2.0	)
Release of valuation allowance, net of U.S. tax expense (as discussed below)		(7.4	)		—			—
Change in contingency reserves		1.4			2.6			1.1
Tax audit settlements		(0.4	)		(1.6	)		(2.9	)
Impairment charges		—			—			41.9
Other, net		(1.6	)		(0.7	)		(0.2	)
Effective tax rate		23.2	%		29.9	%		3.2	%

Components of deferred tax assets and liabilities

	July 2,			July 3,
	2011			2010
	(Thousands)
Deferred tax assets:
Inventory valuation	$	13,680		$	8,276
Accounts receivable valuation		27,916			24,264
Federal, state and foreign tax loss carry-forwards		394,093			361,988
Various accrued liabilities and other		57,686			101,254
		493,375			495,782
Less — valuation allowance		(310,772	)		(331,423	)
		182,603			164,359
Deferred tax liabilities:
Depreciation and amortization of property, plant and equipment		(43,302	)		(23,177	)
Net deferred tax assets	$	139,301		$	141,182

Reconciliation of the beginning and ending accrual balance for unrecognized tax benefits

	July 2, 2011			July 3, 2010
	(Thousands)
Balance at beginning of year	$	132,828		$	135,891
Additions for tax positions taken in prior periods, including interest		40,218			32,723
Reductions for tax positions taken in prior periods, including interest		(16,837	)		(33,168	)
Additions for tax positions taken in current period		11,041			4,970
Reductions related to cash settlements with taxing authorities		(616	)		(96	)
Reductions related to the lapse of statute of limitations		(1,565	)		(2,006	)
Additions (reductions) related to foreign currency translation		10,082			(5,486	)
Balance at end of year	$	175,151		$	132,828

Summary of major jurisdiction

Jurisdiction	Fiscal Year
Belgium		1999 – 2011
United States (federal and state) and Singapore		2004 – 2011
Hong Kong		2005 – 2011
Germany and Taiwan		2006 – 2011
United Kingdom		2007 – 2011
Netherlands		2008 – 2011