XML 60 R31.htm IDEA: XBRL DOCUMENT v3.3.0.814
Income Taxes (Tables)
 12 Months Ended
Sep. 26, 2015
Income Tax Disclosure [Abstract]  
Income (Loss) Before Income Taxes
The Company’s income (loss) before income taxes consisted of the following:
 
 
 
Years ended
September 26, 2015
 
September 27, 2014
 
September 28, 2013
Domestic
 
$
158.3

 
$
95.1

 
$
(1,184.6
)
Foreign
 
18.9

 
(47.0
)
 
(8.3
)
 
 
$
177.2

 
$
48.1

 
$
(1,192.9
)
Provision for Income Taxes
The provision (benefit) for income taxes contained the following components:
 
 
Years ended
September 26, 2015
 
September 27, 2014
 
September 28, 2013
Federal:
 
 
 
 
 
 
Current
 
$
185.2

 
$
242.2

 
$
154.9

Deferred
 
(137.0
)
 
(212.5
)
 
(182.7
)
 
 
48.2


29.7


(27.8
)
State:
 
 
 
 
 
 
Current
 
3.5

 
22.1

 
15.3

Deferred
 
(11.0
)
 
(24.7
)
 
(16.7
)
 
 
(7.5
)
 
(2.6
)
 
(1.4
)
Foreign:
 
 
 
 
 
 
Current
 
5.7

 
9.6

 
7.7

Deferred
 
(0.8
)
 
(5.9
)
 
1.4

 
 
4.9

 
3.7

 
9.1

 
 
$
45.6

 
$
30.8

 
$
(20.1
)
Reconciliation of Income Tax (Benefit) at U.S. Federal Statutory Rate to Company's Effective Tax Rate
The income tax provision (benefit) differed from the tax provision computed at the U.S. federal statutory rate due to the following:
 
 
Years ended
September 26, 2015
 
September 27, 2014
 
September 28, 2013
Income tax provision (benefit) at federal statutory rate
 
35.0
 %
 
35.0
 %
 
(35.0
)%
Increase (decrease) in tax resulting from:
 
 
 
 
 
 
Goodwill impairment
 
—

 
—

 
32.8

Domestic production activities deduction
 
(10.1
)
 
(30.6
)
 
(1.2
)
State income taxes, net of federal benefit
 
1.2

 
4.3

 
(0.2
)
Tax credits
 
(3.8
)
 
(5.2
)
 
(1.2
)
Unrecognized tax benefits
 
(1.8
)
 
2.5

 
0.3

Contingent consideration
 
—

 
—

 
2.6

Cumulative translation adjustment write-off
 
1.9

 
—

 
—

Non-deductible compensation
 
1.9

 
5.5

 
0.2

Foreign rate differential
 
(1.6
)
 
10.7

 
0.1

Change in valuation allowance
 
1.0

 
35.4

 
(0.8
)
Other
 
2.1

 
6.3

 
0.7

 
 
25.8
 %
 
63.9
 %
 
(1.7
)%
Significant Components of the Company's Deferred Tax Assets and Liabilities
The Company’s significant deferred tax assets and liabilities were as follows:
 
 
September 26, 2015
 
September 27, 2014
Deferred tax assets
 
 
 
 
Net operating loss carryforwards
 
$
45.4

 
$
54.2

Capital losses
 
25.7

 
22.3

Non-deductible accruals
 
16.3

 
16.8

Non-deductible reserves
 
26.8

 
27.1

Stock-based compensation
 
24.3

 
25.0

Research and other credits
 
14.5

 
12.3

Nonqualified deferred compensation plan
 
11.3

 
13.7

Other temporary differences
 
10.2

 
11.6

 
 
174.5

 
183.0

Less: valuation allowance
 
(60.9
)
 
(62.8
)
 
 
$
113.6

 
$
120.2

Deferred tax liabilities
 
 
 
 
Depreciation and amortization
 
$
(1,171.5
)
 
$
(1,314.6
)
Debt discounts and deferrals
 
(100.1
)
 
(120.9
)
Debt issuance costs
 
(1.4
)
 
(6.8
)
Investment in subsidiary
 
—

 
(13.9
)
 
 
$
(1,273.0
)
 
$
(1,456.2
)
 
 
$
(1,159.4
)
 
$
(1,336.0
)
Activity of the Company's Unrecognized Income Tax Benefits
The Company’s unrecognized income tax benefits activity for fiscal 2015 and 2014 was as follows:
 
 
 
2015
 
2014
Balance at beginning of fiscal year
 
$
137.0

 
$
121.8

Tax positions related to current year:
 
 
 
 
Additions
 
11.0

 
10.8

Reductions
 
—

 
—

Tax positions related to prior years:
 
 
 
 
Additions related to change in estimate
 
21.1

 
10.9

Reductions
 
(10.3
)
 
(2.7
)
Payments
 
(0.8
)
 
—

Lapses in statutes of limitations and settlements
 
(3.7
)
 
(3.8
)
Acquired tax positions:
 
 
 
 
Additions related to reserves acquired from acquisitions
 
0.4

 
—

Balance as of the end of the fiscal year
 
$
154.7

 
$
137.0