v2.4.0.8
Share-Based Compensation (Tables)
12 Months Ended
Jun. 29, 2013
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Share-Based Compensation Awards Available for Grant or Issuance

Share-based compensation awards available for grant or issuance for each plan as of the beginning of the fiscal year, including changes in the balance of awards available for grant for fiscal 2013, were as follows:

 

     Awards
Available
Under All
Share-Based
Award Plans
    2001
Incentive
Compensation
Plan
    2010
Incentive
Compensation
Plan
    2010
Employee
Stock
Purchase
Plan
 

Balance at June 2012

     2,372,348        —          2,041,032        331,316   

Additional shares authorized

     328,962          —          328,962   

Stock options granted

     (513,448       (513,448     —     

Deferred stock units granted

     (572,225       (572,225     —     

Market stock units granted

     (74,000       (74,000  

Purchases under employee stock purchase plan

     (327,465       —          (327,465

Forfeited

     596,488        136,059        460,429        —     

Plan shares expired

     (136,059     (136,059     —          —     
  

 

 

   

 

 

   

 

 

   

 

 

 

Balance at June 2013

     1,674,601        —          1,341,788        332,813   
  

 

 

   

 

 

   

 

 

   

 

 

 
Share-Based Compensation and Related Tax Benefit Recognized in Consolidated Statements of Income

Share-based compensation and the related tax benefit recognized in our consolidated statements of income for fiscal 2013, 2012, and 2011 were as follows (in thousands):

 

     2013      2012      2011  

Cost of revenue

   $ 911       $ 1,129       $ 1,294   

Research and development

     15,775         15,509         13,823   

Selling, general, and administrative

     15,524         17,523         18,808   
  

 

 

    

 

 

    

 

 

 

Total

   $ 32,210       $ 34,161       $ 33,925   
  

 

 

    

 

 

    

 

 

 

Income tax benefit on share-based compensation

   $ 9,202       $ 9,589       $ 9,745   
  

 

 

    

 

 

    

 

 

 
Balance of Outstanding and Exercisable Stock Options

Certain stock option activity for fiscal 2013 and balances as of the end of fiscal 2013 were as follows:

 

     Stock
Option
Awards
Outstanding
    Weighted
Average
Exercise
Price
     Intrinsic
Value
(In thousands)
 

Balance at June 2012

     7,339,024      $ 25.34      

Granted

     513,448        31.96      

Exercised

     (1,350,372     22.78      

Forfeited

     (471,813     29.52      
  

 

 

      

Balance at June 2013

     6,030,287        26.15       $ 75,334   
  

 

 

      

 

 

 

Exercisable at June 2013

     4,553,792        25.17       $ 61,098  
Cash Received and Aggregate Intrinsic Value of Stock Options Exercised

Cash received and the aggregate intrinsic value of stock options exercised for fiscal 2013, 2012, and 2011 were as follows (in thousands):

 

     2013      2012      2011  

Cash received

   $ 30,766       $ 28,939       $ 19,445   

Aggregate intrinsic value

   $ 23,559       $ 16,878       $ 17,684   
Fair Value of Each Award Granted from Stock Option Plans

The fair value of each award granted from our plans for fiscal 2013, 2012, and 2011 was estimated at the date of grant using the Black-Scholes option pricing model, assuming no expected dividends and the following range of assumptions:

 

     2013    2012    2011

Expected volatility

   41.8% - 48.9%    44.6% - 47.6%    42.7% - 47.0%

Expected life in years

   3.5 - 4.6    4.6    4.6 - 5.1

Risk-free interest rate

   0.62% - 0.72%    0.7% - 1.3%    1.2% - 2.1%

Fair value per award

   $7.26 - $14.95    $8.86 - $14.13    $10.00 - $12.58
Balance and Aggregate Intrinsic Value of DSUs

DSU activity, including DSUs granted, delivered, and forfeited in fiscal 2013, and the balance and aggregate intrinsic value of DSUs as of the end of fiscal 2013 were as follows:

 

           Aggregate      Weighted  
           Intrinsic      Average  
     DSU Awards     Value      Grant Date  
     Outstanding     (in thousands)      Fair Value  

Balance at June 30, 2012

     1,009,336         $ 29.12   

Granted

     572,225           28.61   

Delivered

     (458,051        32.12   

Forfeited

     (118,075        29.24   
  

 

 

      

Balance at June 30, 2013

     1,005,435      $ 38,770         29.24   
  

 

 

   

 

 

    
Balance and Aggregate Intrinsic Value of MSUs

MSU activity, including MSUs granted, delivered, and forfeited in fiscal 2013, and the balance and aggregate intrinsic value of MSUs as of the end of fiscal 2013 were as follows:

 

           Aggregate  
           Intrinsic  
     MSU Awards     Value  
     Outstanding     (in thousands)  

Balance at June 30, 2012

     —       

Granted

     74,000     

Delivered

     —       

Forfeited

     (6,600  
  

 

 

   

Balance at June 30, 2013

     67,400      $ 2,599   
Shares Purchased, Weighted Average Purchase Price, Cash Received, and Aggregate Intrinsic Value for ESPP

Shares purchased, weighted average purchase price, cash received, and the aggregate intrinsic value for employee stock purchase plan purchases in fiscal 2013, 2012, and 2011 were as follows (in thousands, except shares purchased and weighted average purchase price):

 

     2013      2012      2011  

Shares purchased

     327,465         242,225         397,204   

Weighted average purchase price

   $ 20.36       $ 24.51       $ 17.57   

Cash received

   $ 6,668       $ 5,937       $ 6,978   

Aggregate intrinsic value

   $ 4,845       $ 1,534       $ 4,327   
Fair Value of Each Award Granted under ESPP

The fair value of each award granted under our 2001 ESPP and 2010 ESPP for fiscal 2013, 2012, and 2011 was estimated using the Black-Scholes option pricing model, assuming no expected dividends and the following range of assumptions:

 

     2013    2012    2011

Expected volatility

   38.6% - 40.2%    34.0% - 37.3%    32.5% - 48.6%

Expected life in years

   0.5 - 2.0    0.5 - 2.0    0.5 - 2.0

Risk-free interest rate

   0.12% - 0.24%    0.1% - 0.3%    0.1% - 0.6%

Fair value per award

   $6.26 - $14.73    $6.72 - $9.32    $6.77 - $11.56