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Income Taxes (Tables) | 12 Months Ended
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Jun. 25, 2017
Income Tax Disclosure [Abstract] |
Components of Income (Loss) Before Income Taxes | The components of income (loss) before income taxes were as follows:
| Year Ended
| June 25, 2017 |  | June 26, 2016 |  | June 28, 2015
| (in thousands)
United States | $ | 7,553 |  |  | $ | (113,607 | ) |  | $ | 72,728 |
Foreign | 1,804,120 |  |  | 1,073,724 |  |  | 668,122 |
| $ | 1,811,673 |  |  | $ | 960,117 |  |  | $ | 740,850 |
Components of Provision (Benefit) for Income Taxes | Significant components of the provision for income taxes attributable to income before income taxes were as follows:
| Year Ended
| June 25, 2017 |  | June 26, 2016 |  | June 28, 2015
| (in thousands)
Federal: |  |  |  |  |
Current | $ | (70,858 | ) |  | $ | 1,426 |  |  | $ | 16,795 |
Deferred | 99,700 |  |  | (38,616 | ) |  | 12,115 |
| 28,842 |  |  | (37,190 | ) |  | 28,910 |
State: |  |  |  |  |
Current | (963 | ) |  | 2,892 |  |  | 1,376 |
Deferred | (2,246 | ) |  | (7,600 | ) |  | 158 |
| (3,209 | ) |  | (4,708 | ) |  | 1,534 |
Foreign: |  |  |  |  |
Current | 85,479 |  |  | 90,752 |  |  | 61,551 |
Deferred | 2,798 |  |  | (2,786 | ) |  | (6,722 | )
| 88,277 |  |  | 87,966 |  |  | 54,829 |
Total provision for income taxes | $ | 113,910 |  |  | $ | 46,068 |  |  | $ | 85,273 |
Components of Net Deferred Tax Assets and Liabilities | Significant components of the Company’s net deferred tax assets and liabilities were as follows:
| June 25, 2017 |  | June 26, 2016
| (in thousands)
Deferred tax assets: |  |  |
Tax carryforwards | $ | 175,595 |  |  | $ | 176,767 |
Allowances and reserves | 170,752 |  |  | 128,416 |
Equity-based compensation | 25,828 |  |  | 29,414 |
Inventory valuation differences | 19,602 |  |  | 17,178 |
Prepaid cost sharing | 133,831 |  |  | 88,522 |
Other | 20,175 |  |  | 24,540 |
Gross deferred tax assets | 545,783 |  |  | 464,837 |
Valuation allowance | (114,011 | ) |  | (101,689 | )
Net deferred tax assets | 431,772 |  |  | 363,148 |
Deferred tax liabilities: |  |  |
Intangible assets | (30,944 | ) |  | (46,774 | )
Convertible debt | (153,047 | ) |  | (151,483 | )
Capital assets | (72,727 | ) |  | (61,845 | )
Amortization of goodwill | (15,582 | ) |  | (14,176 | )
Unremitted earnings of foreign subsidiaries | (302,663 | ) |  | (146,459 | )
Other | (9,844 | ) |  | (8,594 | )
Gross deferred tax liabilities | (584,807 | ) |  | (429,331 | )
Net deferred tax liabilities | $ | (153,035 | ) |  | $ | (66,183 | )
Reconciliation of Income Tax Expense Provided at Federal Statutory Rate to Actual Income Tax Expense (Benefit) | A reconciliation of income tax expense provided at the federal statutory rate (35% in fiscal years 2017, 2016, and 2015) to actual income tax expense is as follows:
| Year Ended
| June 25, 2017 |  | June 26, 2016 |  | June 28, 2015
| (in thousands)
Income tax expense computed at federal statutory rate | $ | 634,086 |  |  | $ | 336,041 |  |  | $ | 259,297 |
State income taxes, net of federal tax benefit | (11,973 | ) |  | (14,070 | ) |  | (8,611 | )
Foreign income taxed at different rates | (352,860 | ) |  | (265,123 | ) |  | (175,581 | )
Settlements and reductions in uncertain tax positions | (144,519 | ) |  | — |  |  | — |
Tax credits | (37,713 | ) |  | (48,277 | ) |  | (24,416 | )
State valuation allowance, net of federal tax benefit | 12,070 |  |  | 17,948 |  |  | 8,594 |
Equity-based compensation | 13,187 |  |  | 12,366 |  |  | 28,845 |
Other permanent differences and miscellaneous items | 1,632 |  |  | 7,183 |  |  | (2,855 | )
| $ | 113,910 |  |  | $ | 46,068 |  |  | $ | 85,273 |
Changes in Balance of Gross Unrecognized Tax Benefits | The aggregate changes in the balance of gross unrecognized tax benefits were as follows:
| (in thousands)
Balance as of June 29, 2014 | $ | 352,112 |
Settlements and effective settlements with tax authorities | (2,108 | )
Lapse of statute of limitations | (9,376 | )
Increases in balances related to tax positions taken during prior periods | 3,729 |
Decreases in balances related to tax positions taken during prior periods | (12,615 | )
Increases in balances related to tax positions taken during current period | 31,810 |
Balance as of June 28, 2015 | 363,552 |
Lapse of statute of limitations | (10,992 | )
Increases in balances related to tax positions taken during prior periods | 18,200 |
Decreases in balances related to tax positions taken during prior periods | (421 | )
Increases in balances related to tax positions taken during current period | 47,093 |
Balance as of June 26, 2016 | 417,432 |
Settlements and effective settlements with tax authorities | (6,691 | )
Lapse of statute of limitations | (113,491 | )
Increases in balances related to tax positions taken during prior periods | 6,557 |
Decreases in balances related to tax positions taken during prior periods | (11,528 | )
Increases in balances related to tax positions taken during current period | 47,168 |
Balance as of June 25, 2017 | $ | 339,447 |

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