v2.4.0.8
Organization and Summary of Significant Accounting Policies (Tables)
12 Months Ended
Jun. 28, 2014
Accounting Policies [Abstract]  
Investments in Available-for-Sale Securities and Cash Equivalents

Our cash equivalents and investments classified as available-for-sale securities as of the end of fiscal 2014 and 2013 were as follows (in thousands):

 

     2014  
            Gross      Gross         
     Amortized      Unrealized      Unrealized      Fair  
     Cost      Gains      Losses      Value  

Reported as cash equivalents:

           

Money market funds

   $ 439,675       $ —         $ —         $ 439,675   

Reported as non-current investments:

           

Auction rate securities

     11,225         8,709         149         19,785   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total available-for-sale securities

   $ 450,900       $ 8,709       $ 149       $ 459,460   
  

 

 

    

 

 

    

 

 

    

 

 

 
     2013  
            Gross      Gross         
     Amortized      Unrealized      Unrealized      Fair  
     Cost      Gains      Losses      Value  

Reported as cash equivalents:

           

Money market funds

   $ 350,521       $ —         $ —         $ 350,521   

Reported as non-current investments:

           

Auction rate securities

     10,167         6,980         178         16,969   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total available-for-sale securities

   $ 360,688       $ 6,980       $ 178       $ 367,490   
  

 

 

    

 

 

    

 

 

    

 

 

 

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

Financial assets and liabilities measured at fair value on a recurring basis, by level within the fair value hierarchy, as of the end of fiscal 2014 and 2013 were as follows (in thousands):

 

     2014      2013  
     Level 1      Level 3      Level 1      Level 3  

Assets:

           

Money market funds

   $ 439,675       $ —         $ 350,521       $ —     

Auction rate securities

     —           19,785         —           16,969   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total available-for-sale securities

   $ 439,675       $ 19,785       $ 350,521       $ 16,969   
  

 

 

    

 

 

    

 

 

    

 

 

 

Liabilities:

           

Contingent consideration liabilities recorded for business combinations

   $ —         $ 110,122       $ —         $ 8,247   
  

 

 

    

 

 

    

 

 

    

 

 

 

Changes in Fair Value of Level 3 Financial Assets

Changes in fair value of our Level 3 financial assets for fiscal 2014 and 2013 were as follows (in thousands):

 

     2014      2013  

Beginning balance

   $ 16,969       $ 15,321   
  

 

 

    

 

 

 

Net unrealized gain

     2,816         4,998   
  

 

 

    

 

 

 

Redemptions

     —           (3,350
  

 

 

    

 

 

 

Ending balance

   $ 19,785       $ 16,969   
  

 

 

    

 

 

 

Changes in Fair Value of Contingent Consideration

Changes in fair value of contingent consideration measured using significant unobservable inputs (Level 3) for fiscal 2014 and 2013 were as follows (in thousands):

 

     2014     2013  

Beginning balance

   $ 8,247      $ 11,900   

Contingent consideration liability incurred

     37,499        —     

Cash settlement of contingent consideration liability

     —          (5,000

Issuance of common stock in settlement of liability

     (5,485     —     

Accretion and remeasurement

     69,861        1,347   
  

 

 

   

 

 

 

Ending balance

   $ 110,122      $ 8,247   
  

 

 

   

 

 

 
Accounts Receivable Balance Percentage of Different Customers

The following customers accounted for more than 10% of our accounts receivable balance as of the end of fiscal 2014 and 2013:

 

     2014     2013  

Customer A

     27     27

Customer B

     12     *   

 

* Less than 10%
Inventories

Inventories are stated at the lower of cost (first-in, first-out method) or market (estimated net realizable value) as of the end of fiscal 2014 and 2013 and consisted of the following (in thousands):

 

     2014      2013  

Raw materials

   $ 58,717       $ 38,181   

Finished goods

     23,594         11,767   
  

 

 

    

 

 

 
   $ 82,311       $ 49,948   
  

 

 

    

 

 

 

Schedule of Goodwill

Changes in our goodwill balance for fiscal 2014 and 2013 were as follows (in thousands):

 

     2014      2013  

Beginning balance

   $ 20,695       $ 18,995   

Acquisition activity

     38,975         1,700   

Post acquisition adjustments

     1,360         —     
  

 

 

    

 

 

 

Ending balance

   $ 61,030       $ 20,695   
  

 

 

    

 

 

 

Other Accrued Liabilities

As of the end of fiscal 2014 and 2013, other accrued liabilities consisted of the following (in thousands):

 

     2014      2013  

Customer obligations

   $ 38,758       $ 16,291   

Inventory obligations

     4,096         6,333   

Warranty

     1,659         1,696   

Other

     12,178         6,921   
  

 

 

    

 

 

 
   $ 56,691       $ 31,241   
  

 

 

    

 

 

 

Changes in Warranty Liability

Changes in our warranty liability (included in other accrued liabilities) for fiscal 2014 and 2013 were as follows (in thousands):

 

     2014     2013  

Beginning accrued warranty

   $ 1,696      $ 2,175   

Provision for product warranties

     2,419        875   

Cost of warranty claims and settlements

     (2,456     (1,354
  

 

 

   

 

 

 

Ending accrued warranty

   $ 1,659      $ 1,696