0000707549-19-000124 | 10-K | XBRL Viewer

Net Income per Share (Tables)

12 Months Ended

Jun. 30, 2019

Schedule of Numerators and Denominators of Basic and Diluted Computations for Net Income Per Share

The following table reconciles the numerators and denominators of the basic and diluted computations for net income per share.



	Year Ended
	June 30, 2019		June 24, 2018			June 25, 2017
	(in thousands, except per share data)
Numerator:
Net income	$	2,191,430	$	2,380,681		$	1,697,763
Denominator:
Basic average shares outstanding	152,478		161,643			162,222
Effect of potential dilutive securities:
Employee stock plans	1,323		2,312			2,058
Convertible notes	5,610		12,258		⁽¹⁾	16,861		⁽¹⁾
Warrants	504		4,569			2,629
Diluted average shares outstanding	159,915		180,782			183,770
Net income per share - basic	$	14.37	$	14.73		$	10.47
Net income per share - diluted	$	13.70	$	13.17		$	9.24

(1)

Diluted shares outstanding do not include any effect resulting from note hedges associated with the Company’s 2018 Notes as their impact would have been anti-dilutive.

Schedule of Potentially Dilutive Securities Excluded from EPS Calculations

The following potentially dilutive securities were excluded:



	Year Ended
	June 30, 2019	June 24, 2018	June 25, 2017
	(in thousands)
Options and RSUs	578	34	34

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 24, 2018	Jun. 25, 2017
Income Statement [Abstract]
Revenue	$ 9,653,559	$ 11,076,998	$ 8,013,620
Cost of goods sold	5,295,100	5,911,966	4,410,261
Gross margin	4,358,459	5,165,032	3,603,359
Research and development	1,191,320	1,189,514	1,033,742
Selling, general, and administrative	702,407	762,219	667,485
Total operating expenses	1,893,727	1,951,733	1,701,227
Operating income	2,464,732	3,213,299	1,902,132
Other expense, net	(18,161)	(61,510)	(90,459)
Income before income taxes	2,446,571	3,151,789	1,811,673
Income tax expense	(255,141)	(771,108)	(113,910)
Net income	$ 2,191,430	$ 2,380,681	$ 1,697,763
Net income per share:
Basic (usd per share)	$ 14.37	$ 14.73	$ 10.47
Diluted (usd per share)	$ 13.70	$ 13.17	$ 9.24
Number of shares used in per share calculations:
Basic (shares)	152,478	161,643	162,222
Diluted (shares)	159,915	180,782	183,770

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 24, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 5,021	$ 5,343
Preferred stock, par value (usd per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value (usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	144,433,000	156,892,000
Common stock, shares outstanding	144,433,000	156,892,000
Treasury stock, shares	140,573,000	119,679,000

Revenue - Summary of Contract Transaction Price not yet Recognized as Revenue (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 449,305
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 404,544
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, expected timing of satisfaction	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-06-29
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 2,452
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, expected timing of satisfaction	2 years

Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Jun. 30, 2019	Jun. 24, 2018	Jun. 25, 2017
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (usd per share)	$ 4.4	$ 2.55	$ 1.65

Net Income per Share - Schedule of Numerators and Denominators of Basic and Diluted Computations for Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 24, 2018	Jun. 25, 2017
Numerator:
Net income	$ 2,191,430	$ 2,380,681	$ 1,697,763
Denominator:
Basic average shares outstanding	152,478	161,643	162,222
Effect of potential dilutive securities:
Employee stock plans (shares)	1,323	2,312	2,058
Convertible notes (shares)	5,610	12,258	16,861
Warrants (shares)	504	4,569	2,629
Diluted average shares outstanding	159,915	180,782	183,770
Net income per share - basic (usd per share)	$ 14.37	$ 14.73	$ 10.47
Net income per share - diluted (usd per share)	$ 13.70	$ 13.17	$ 9.24

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2019	Jun. 24, 2018	Jun. 25, 2017
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 182.1	$ 165.2	$ 152.3

Recent Accounting Pronouncements - Cumulative Effect of Changes Due to Adoption of Topic 606 (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 24, 2018	Jun. 25, 2017	Jun. 25, 2018	Jun. 26, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total assets	$ 12,001,333	$ 12,479,478		$ 12,492,433
Deferred profit	381,317			559,391
Total liabilities	7,278,029	5,899,435		5,773,035
Stockholder’s equity	4,673,865	6,501,851	$ 6,817,451	$ 6,641,206	$ 5,894,517
Revenue	9,653,559	11,076,998	8,013,620
Cost of goods sold	5,295,100	5,911,966	$ 4,410,261
Retained earnings	9,930,919	8,261,194
As reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total assets		12,479,478
Deferred profit	846,422	720,086
Total liabilities		5,899,435
Stockholder’s equity		6,501,851
Revenue	9,049,790
Cost of goods sold	5,016,679
Retained earnings	9,465,814
Adjustments \| ASU 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total assets		12,955
Deferred profit	(465,105)	(160,695)
Total liabilities		(126,400)
Stockholder’s equity		$ 139,355
Revenue	603,769
Cost of goods sold	278,421
Retained earnings	$ 465,105

Income Taxes

12 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

On December 22, 2017, the “Tax Cuts & Jobs Act” was signed into law and was effective for the Company starting in the quarter ended December 24, 2017. U.S. tax reform reduced the U.S. federal statutory tax rate from 35% to 21%, assessed a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred, and created new taxes on certain foreign sourced earnings. The impact on income taxes due to a change in legislation is required under the authoritative guidance of Accounting Standards Codification (“ASC”) 740, Income Taxes, to be recognized in the period in which the law is enacted. In conjunction, the SEC issued Staff Accounting Bulletin (“SAB”) 118, which allowed for the recording of provisional amounts related to U.S. tax reform and subsequent adjustments related to U.S. tax reform during an up to one-year measurement period that is similar to the measurement period used when accounting for business combinations. The Company recorded what it believed to be reasonable estimates during the SAB 118 measurement period. During the December 2018 quarter, the Company finalized the accounting of the income tax effects of U.S. tax reform. Although the SAB 118 measurement period has ended, there may be some aspects of U.S. tax reform that remain subject to future regulations and/or notices which may further clarify certain provisions of U.S. tax reform. The Company may need to adjust its previously recorded amounts to reflect the recognition and measurement of its tax accounting positions in accordance with ASC 740; such adjustments could be material.

The computation of the one-time transition tax on accumulated unrepatriated foreign earnings was recorded on a provisional basis in the amount of $883.0 million in the fiscal year ended June 24, 2018, as permitted under SAB 118. The Company recorded a subsequent provisional adjustment of $36.6 million, as a result of incorporating new information into the estimate, in the Condensed Consolidated Financial Statements in the three months ended September 23, 2018. The Company finalized the computation of the transition tax liability during the December 2018 quarter. The final adjustment resulted in a tax benefit of $51.2 million, which was recorded in the Company’s Condensed Consolidated Financial Statements in the three months ended December 23, 2018. The final balance of total transition tax is $868.4 million. The one-time transition tax is based on the Company’s total post-1986 earnings and profits (“E&P”) that was previously deferred from U.S. income taxes. The Company had previously accrued deferred taxes on a portion of this E&P. The Company has completed the calculation of total post-1986 E&P and related income tax pools for its foreign subsidiaries. The Company elected to pay the one-time transition tax over a period of eight years.

Beginning in fiscal year 2019, the Company is subject to the impact of the GILTI provision of U.S. tax reform. The GILTI provision imposes taxes on foreign earnings in excess of a deemed return on tangible assets. The Company has calculated the impact of the GILTI provision on current year earnings and has included the impact in the effective tax rate. The Company made an accounting policy election in the September 2018 quarter to record deferred taxes in relation to the GILTI provision, and recorded a provisional tax benefit of $48.0 million in the Condensed Consolidated Financial Statements in the three months ended September 23, 2018, under SAB 118. The Company finalized the computation of the accounting policy election during the December 2018 quarter. The final adjustment resulted in a tax expense of $0.4 million, which was recorded in the Company’s Condensed Consolidated Financial Statements in the three months ended December 23, 2018. The final tax benefit of the election is $47.6 million.

The components of income (loss) before income taxes were as follows:



	Year Ended
	June 30, 2019			June 24, 2018		June 25, 2017
	(in thousands)
United States	$	(59,876	)	$	128,190	$	7,553
Foreign	2,506,447			3,023,599		1,804,120
	$	2,446,571		$	3,151,789	$	1,811,673

Significant components of the provision (benefit) for income taxes attributable to income before income taxes were as follows:



	Year Ended
	June 30, 2019			June 24, 2018			June 25, 2017
	(in thousands)
Federal:
Current	$	143,845		$	630,148		$	(70,858	)
Deferred	(10,722		)	12,871			99,700
	133,123			643,019			28,842
State:
Current	5,994			5,348			(963		)
Deferred	4,944			(3,273		)	(2,246		)
	10,938			2,075			(3,209		)
Foreign:
Current	110,283			132,566			85,479
Deferred	797			(6,552		)	2,798
	111,080			126,014			88,277
Total provision for income taxes	$	255,141		$	771,108		$	113,910

Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes, as well as the tax effect of carryforwards. Significant components of the Company’s net deferred tax assets and liabilities were as follows:



	June 30, 2019			June 24, 2018
	(in thousands)
Deferred tax assets:
Tax carryforwards	$	231,390		$	206,073
Allowances and reserves	97,671			118,559
Equity-based compensation	14,661			16,189
Inventory valuation differences	18,516			14,021
Prepaid cost sharing	74,139			65,644
Outside basis differences of foreign subsidiaries	16,260			—
Other	17,972			16,514
Gross deferred tax assets	470,609			437,000
Valuation allowance	(226,928		)	(199,839		)
Net deferred tax assets	243,681			237,161
Deferred tax liabilities:
Intangible assets	(9,883		)	(21,558		)
Convertible debt	(46,993		)	(60,252		)
Capital assets	(83,298		)	(61,429		)
Amortization of goodwill	(11,299		)	(10,738		)
Outside basis differences of foreign subsidiaries	—			(6,656		)
Other	(8,752		)	(7,955		)
Gross deferred tax liabilities	(160,225		)	(168,588		)
Net deferred tax assets	$	83,456		$	68,573

The increase in the gross deferred tax assets and valuation allowance between fiscal year 2019 and 2018 is primarily due to increases in tax carryforwards.

Realization of the Company’s net deferred tax assets is based upon the weighting of available evidence, including such factors as the recent earnings history and expected future taxable income. The Company believes it is more likely than not that such deferred tax assets will be realized with the exception of $227.0 million primarily related to California deferred tax assets. At June 30, 2019, the Company continued to record a valuation allowance to offset the entire California deferred tax asset balance due to the single sales factor apportionment resulting in lower taxable income in California.

At June 30, 2019, the Company had federal net operating loss carryforwards of $109.8 million. The majority of these losses will begin to expire in fiscal year 2020, and are subject to limitation on their utilization.

At June 30, 2019, the Company had state net operating loss carryforwards of $58.5 million. If not utilized, these losses will begin to expire in fiscal year 2020 and are subject to limitation on their utilization.

At June 30, 2019, the Company had state tax credit carryforwards of $322.4 million. Substantially all of these credits can be carried forward indefinitely.

A reconciliation of income tax expense provided at the federal statutory rate (21% in fiscal year 2019, 28.27% in fiscal year 2018, and 35% in fiscal year 2017) to actual income tax expense is as follows:



	Year Ended
	June 30, 2019			June 24, 2018			June 25, 2017
	(in thousands)
Income tax expense computed at federal statutory rate	$	513,780		$	891,011		$	634,086
State income taxes, net of federal tax benefit	(17,565		)	(50,585		)	(11,973		)
Foreign income taxed at different rates	(260,344		)	(939,808		)	(352,860		)
Settlements and reductions in uncertain tax positions	(31,291		)	(33,367		)	(144,519		)
Tax credits	(71,779		)	(69,301		)	(37,713		)
State valuation allowance, net of federal tax benefit	26,742			57,302			12,070
Equity-based compensation	(7,566		)	(35,875		)	13,187
Other permanent differences and miscellaneous items	39,251			43,214			1,632
U.S. tax reform impacts	63,913			908,517			—
	$	255,141		$	771,108		$	113,910

In July 2015, the U.S. Tax Court issued an opinion favorable to Altera with respect to Altera’s litigation with the IRS. The litigation related to the treatment of stock-based compensation expense in an intercompany cost-sharing arrangement with Altera’s foreign subsidiary. In its opinion, the U.S. Tax Court accepted Altera’s position of excluding stock-based compensation from its intercompany cost-sharing arrangement. In June 2019, the Ninth Circuit, through a three-judge panel, reversed the 2015 decision of the U.S. Tax Court. Altera has petitioned the Ninth Circuit for an en banc rehearing of a larger panel of eleven Ninth Circuit judges. The Company will continue to monitor and evaluate the potential impact of this litigation on its fiscal year 2020 Consolidated Financial Statements. The estimated potential impact is in the range of $75 million, which may result in a decrease in deferred tax assets and an increase in tax expense.

Effective from fiscal year 2014 through 2017, the Company had a tax ruling in Switzerland for one of its foreign subsidiaries. The impact of the tax ruling decreased taxes by approximately $6.3 million for fiscal year 2017. The benefit of the tax ruling on diluted earnings per share was approximately $0.03 in fiscal year 2017. Effective fiscal year 2018, the Company has withdrawn its reduced tax rate ruling in Switzerland for this subsidiary due to the ruling being no longer necessary as the subsidiary meets the requirements to achieve the reduced tax rate under Swiss tax law.

Earnings of the Company’s foreign subsidiaries included in consolidated retained earnings that are indefinitely reinvested in foreign operations aggregated to approximately $458.4 million at June 30, 2019. If these earnings

were remitted to the United States, they would be subject to foreign withholding taxes of approximately $73.1 million at current statutory rates.

As of June 30, 2019, the total gross unrecognized tax benefits were $420.8 million, compared to $305.4 million as of June 24, 2018, and $339.4 million as of June 25, 2017. During fiscal year 2019, gross unrecognized tax benefits increased by $115.4 million. The amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate was $376.0 million, $268.3 million, and $247.6 million, as of June 30, 2019, June 24, 2018, and June 25, 2017, respectively. The aggregate changes in the balance of gross unrecognized tax benefits were as follows:




	(in thousands)
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
Settlements and effective settlements with tax authorities	(693		)
Lapse of statute of limitations	(88,837		)
Increases in balances related to tax positions taken during prior periods	2,044
Decreases in balances related to tax positions taken during prior periods	(1,320		)
Increases in balances related to tax positions taken during current period	54,772
Balance as of June 24, 2018	305,413
Settlements and effective settlements with tax authorities	(3,705		)
Lapse of statute of limitations	(28,176		)
Increases in balances related to tax positions taken during prior periods	78,927
Decreases in balances related to tax positions taken during prior periods	(1,577		)
Increases in balances related to tax positions taken during current period	69,890
Balance as of June 30, 2019	$	420,772

The Company recognizes interest expense and penalties related to the above unrecognized tax benefits within income tax expense. The Company had accrued $19.1 million, $13.0 million, and $15.7 million cumulatively for gross interest and penalties as of June 30, 2019, June 24, 2018, and June 25, 2017, respectively.

The Company is subject to audits by state and foreign tax authorities. The Company is unable to make a reasonable estimate as to when cash settlements, if any, with the relevant taxing authorities will occur.

The Company files U.S. federal, U.S. state, and foreign income tax returns. As of June 30, 2019, tax years 2004-2019 remain subject to examination in the jurisdictions where the Company operates.

The Company is in various stages of examinations in connection with all of its tax audits worldwide, and it is difficult to determine when these examinations will be settled. It is reasonably possible that over the next 12-month period the Company may experience an increase or decrease in its unrecognized tax benefits as a result of tax examinations or lapses of statute of limitations. The change in unrecognized tax benefits may range up to $12 million.

Income Taxes - Reconciliation of Income Tax Expense Provided at Federal Statutory Rate to Actual Income Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 24, 2018	Jun. 25, 2017
Income Tax Disclosure [Abstract]
Income tax expense computed at federal statutory rate	$ 513,780	$ 891,011	$ 634,086
State income taxes, net of federal tax benefit	(17,565)	(50,585)	(11,973)
Foreign income taxed at different rates	(260,344)	(939,808)	(352,860)
Settlements and reductions in uncertain tax positions	(31,291)	(33,367)	(144,519)
Tax credits	(71,779)	(69,301)	(37,713)
State valuation allowance, net of federal tax benefit	26,742	57,302	12,070
Equity-based compensation	(7,566)	(35,875)	13,187
Other permanent differences and miscellaneous items	39,251	43,214	1,632
U.S. tax reform impacts	63,913	908,517	0
Total provision for income taxes	$ 255,141	$ 771,108	$ 113,910

Long Term Debt and Other Borrowings - Schedule of Contractual Cash Obligations (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Payments Due by Fiscal Year:
2020	$ 712,349
2021	800,000
2022	0
2023	0
2024	0
Thereafter	3,000,000
Total	$ 4,512,349

Long Term Debt and Other Borrowings - Schedule of Additional Senior Notes Information (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2019 USD ($)
2020 Notes
Debt Instrument [Line Items]
Remaining Amortization period	8 months 12 days
2021 Notes
Debt Instrument [Line Items]
Remaining Amortization period	2 years
2025 Notes
Debt Instrument [Line Items]
Remaining Amortization period	5 years 8 months 12 days
2026 Notes
Debt Instrument [Line Items]
Remaining Amortization period	6 years 8 months 12 days
2029 Notes
Debt Instrument [Line Items]
Remaining Amortization period	9 years 8 months 12 days
2049 Notes
Debt Instrument [Line Items]
Remaining Amortization period	29 years 8 months 12 days
Level 2 \| 2020 Notes
Debt Instrument [Line Items]
Fair Value of Notes (Level 2)	$ 500,855
Level 2 \| 2021 Notes
Debt Instrument [Line Items]
Fair Value of Notes (Level 2)	806,232
Level 2 \| 2025 Notes
Debt Instrument [Line Items]
Fair Value of Notes (Level 2)	528,895
Level 2 \| 2026 Notes
Debt Instrument [Line Items]
Fair Value of Notes (Level 2)	786,915
Level 2 \| 2029 Notes
Debt Instrument [Line Items]
Fair Value of Notes (Level 2)	1,063,670
Level 2 \| 2049 Notes
Debt Instrument [Line Items]
Fair Value of Notes (Level 2)	$ 828,188

Goodwill and Intangible Assets - Estimated Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 24, 2018
Fiscal Year
2020	$ 65,226
2021	63,986
2022	59,671
2023	15,241
2024	8,900
Thereafter	3,926
Net	$ 216,950	$ 317,836

Revenue - Schedule of System Revenues of Primary Markets (Details) - Systems revenue	12 Months Ended
	Jun. 30, 2019
Memory
Concentration Risk [Line Items]
Concentration by percent	70.00%
Foundry
Concentration Risk [Line Items]
Concentration by percent	20.00%
Logic/integrated device manufacturing
Concentration Risk [Line Items]
Concentration by percent	10.00%

Financial Instruments - Cash, Cash Equivalents, Short-Term Investments, Restricted Cash and Investments and Other Assets Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 24, 2018	Jun. 25, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, Cost	$ 5,216,315
Total Cost	5,760,736	$ 5,276,170
Total, Unrealized Gain	3,836	648
Total, Unrealized (Loss)	(451)	(1,980)
Total, Fair Value	5,764,121	5,274,838
Cash and Cash Equivalents	3,658,219	4,512,257	$ 2,377,534
Investments	1,772,984	437,338
Restricted Cash & Investments	255,177	256,301
Other Assets	77,741	68,942
Cash
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	467,460	708,364
Cash and Cash Equivalents	462,310	702,090
Investments	0	0
Restricted Cash & Investments	5,150	6,274
Other Assets	0	0
Time deposit
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents	1,563,686	999,666
Cash and Cash Equivalents	1,313,659	749,639
Investments	0	0
Restricted Cash & Investments	250,027	250,027
Other Assets	0	0
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Cost	2,187,275	2,767,054
Total, Unrealized Gain	1,346	516
Total, Unrealized (Loss)	(307)	(312)
Total, Fair Value	2,188,314	2,767,258
Cash and Cash Equivalents	1,731,640	2,675,528
Investments	378,933	22,788
Restricted Cash & Investments	0	0
Other Assets	77,741	68,942
Level 1 \| Money market funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, Cost	1,644,659	2,341,807
Debt securities, Unrealized Gain	0	0
Debt securities, Unrealized (Loss)	0	0
Debt securities, Fair Value	1,644,659	2,341,807
Cash and Cash Equivalents	1,644,659	2,341,807
Investments	0	0
Restricted Cash & Investments	0	0
Other Assets	0	0
Level 1 \| U.S. Treasury and agencies
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, Cost	465,655	356,679
Debt securities, Unrealized Gain	283	0
Debt securities, Unrealized (Loss)	(24)	(170)
Debt securities, Fair Value	465,914	356,509
Cash and Cash Equivalents	86,981	333,721
Investments	378,933	22,788
Restricted Cash & Investments	0	0
Other Assets	0	0
Level 1 \| Mutual funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities, Cost	76,961	68,568
Trading securities, Unrealized Gain	1,063	516
Trading securities, Unrealized (Loss)	(283)	(142)
Trading securities, Fair Value	77,741	68,942
Cash and Cash Equivalents	0	0
Investments	0	0
Restricted Cash & Investments	0	0
Other Assets	77,741	68,942
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total Cost	1,542,315	801,086
Total, Unrealized Gain	2,490	132
Total, Unrealized (Loss)	(144)	(1,668)
Total, Fair Value	1,544,661	799,550
Cash and Cash Equivalents	150,610	385,000
Investments	1,394,051	414,550
Restricted Cash & Investments	0	0
Other Assets	0	0
Level 2 \| Municipal notes and bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, Cost		152,378
Debt securities, Unrealized Gain		37
Debt securities, Unrealized (Loss)		(279)
Debt securities, Fair Value		152,136
Cash and Cash Equivalents		0
Investments		152,136
Restricted Cash & Investments		0
Other Assets		0
Level 2 \| Government-sponsored enterprises
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, Cost	16,005	110,963
Debt securities, Unrealized Gain	5	0
Debt securities, Unrealized (Loss)	(41)	(201)
Debt securities, Fair Value	15,969	110,762
Cash and Cash Equivalents	0	99,934
Investments	15,969	10,828
Restricted Cash & Investments	0	0
Other Assets	0	0
Level 2 \| Foreign government bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, Cost	24,408	19,986
Debt securities, Unrealized Gain	35	0
Debt securities, Unrealized (Loss)	0	(1)
Debt securities, Fair Value	24,443	19,985
Cash and Cash Equivalents	0	19,985
Investments	24,443	0
Restricted Cash & Investments	0	0
Other Assets	0	0
Level 2 \| Corporate notes and bonds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, Cost	1,466,167	516,955
Debt securities, Unrealized Gain	2,310	95
Debt securities, Unrealized (Loss)	(99)	(1,184)
Debt securities, Fair Value	1,468,378	515,866
Cash and Cash Equivalents	150,610	265,081
Investments	1,317,768	250,785
Restricted Cash & Investments	0	0
Other Assets	0	0
Level 2 \| Mortgage backed securities - residential
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, Cost	6,148	804
Debt securities, Unrealized Gain	0	0
Debt securities, Unrealized (Loss)	(4)	(3)
Debt securities, Fair Value	6,144	801
Cash and Cash Equivalents	0	0
Investments	6,144	801
Restricted Cash & Investments	0	0
Other Assets	0	$ 0
Level 2 \| Commercial Mortgage Backed Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt securities, Cost	29,587
Debt securities, Unrealized Gain	140
Debt securities, Unrealized (Loss)	0
Debt securities, Fair Value	29,727
Cash and Cash Equivalents	0
Investments	29,727
Restricted Cash & Investments	0
Other Assets	$ 0

Commitments and Contingencies

12 Months Ended

Jun. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

The Company has certain obligations to make future payments under various contracts; some of these are recorded on its balance sheet and some are not. Obligations that are recorded on the Company’s balance sheet include the Company’s capital lease obligations. Obligations that are not recorded on the Company’s balance sheet include contractual relationships for operating leases, purchase obligations, and certain guarantees. The Company’s commitments relating to capital leases and off-balance sheet agreements are included in the tables below. These amounts exclude $373.0 million of liabilities related to uncertain tax benefits because the Company is unable to reasonably estimate the ultimate amount or time of settlement. See Note 7 - Income Taxes for further discussion.

Capital Leases

Capital leases reflect building and office equipment leases. The Company’s contractual cash obligations relating to its existing capital leases, including interest, as of June 30, 2019, were as follows:



Payments Due by Fiscal Year (1):	Capital Leases
	(in thousands)
2020	$	7,729
2021	11,753
2022	5,669
2023	5,165
2024	4,932
Thereafter	14,801
Total	50,049
Interest on capital leases	16,697
Current portion of capital leases	4,858
Long-term portion of capital leases	$	28,494


(1)	Excludes balances associated with the Company’s build-to-suit lease arrangements that are classified as capital leases in the Consolidated Balance Sheets, but for which cash payment is not anticipated.

Operating Leases and Related Guarantees

The Company leases the majority of its administrative, R&D and manufacturing facilities, regional sales/service offices, and certain equipment under non-cancelable operating leases. Certain of the Company’s facility leases for buildings located at its Fremont, California headquarters; Tualatin, Oregon campus; and certain other facility leases provide the Company with options to extend the leases for additional periods or to purchase the facilities. Certain of the Company’s facility leases provide for periodic rent increases based on the general rate of inflation. The Company’s rental expense for facilities occupied during fiscal years 2019, 2018, and 2017 was $28.1 million, $23.5 million, and $20.2 million, respectively.

The Company has operating leases regarding certain improved properties in Fremont and Livermore, California (the “Operating Leases”). The Company is required to maintain cash collateral in an aggregate of approximately $250.0 million in separate interest-bearing accounts as security for the Company’s obligations. These amounts are recorded with other restricted cash and investments in the Company’s Consolidated Balance Sheet as of June 30, 2019.

During the term of the Operating Leases and when the terms of the Operating Leases expire, the property subject to those Operating Leases may be re-marketed. The Company has guaranteed to the lessor that each property will have a certain minimum residual value. The aggregate guarantee made by the Company under the Operating Leases is generally no more than $220.4 million; however, under certain default circumstances, the guarantee with regard to an Operating Lease may be 100% of the lessor’s aggregate investment in the applicable property, which in no case will exceed $250.0 million, in the aggregate.

The Company’s contractual cash obligations with respect to operating leases, excluding the residual value guarantees discussed above, as of June 30, 2019, were as follows:



Payments Due by Fiscal Year:	Operating Leases
	(in thousands)
2020	$	37,427
2021	23,277
2022	13,304
2023	6,752
2024	5,804
Thereafter	11,825
Total	$	98,389

Other Guarantees

The Company has issued certain indemnifications to its lessors for taxes and general liability under some of its agreements. The Company has entered into insurance contracts that are intended to limit its exposure to such indemnifications. As of June 30, 2019, the Company had not recorded any liability on its Consolidated Financial Statements in connection with these indemnifications, as it does not believe that it is probable that any material amounts will be paid under these guarantees.

Generally, the Company indemnifies, under pre-determined conditions and limitations, its customers for infringement of third-party intellectual property rights by the Company’s products or services. The Company seeks to limit its liability for such indemnity to an amount not to exceed the sales price of the products or services subject to its indemnification obligations. The Company does not believe that it is probable that any material amounts will be paid under these guarantees.

The Company provides guarantees and standby letters of credit to certain parties as required for certain transactions initiated during the ordinary course of business. As of June 30, 2019, the maximum potential amount of future payments that the Company could be required to make under these arrangements and letters of credit was $42.5 million. The Company does not believe, based on historical experience and information currently available, that it is probable that any material amounts will be required to be paid.

In addition, the Company has entered into indemnification agreements with its officers and directors, consistent with its Bylaws and Certificate of Incorporation; and under local law, the Company may be required to provide indemnification to its employees for actions within the scope of their employment. Although the Company maintains insurance contracts that cover some of the potential liability associated with these indemnification agreements, there is no guarantee that all such liabilities will be covered. The Company does not believe, based on historical experience and information currently available, that it is probable that any material amounts will be required to be paid under such indemnification agreements or statutory obligations.

Purchase Obligations

Purchase obligations consist of non-cancelable significant contractual obligations either on an annual basis or over multi-year periods. The contractual cash obligations and commitments table presented below contains the Company’s minimum obligations at June 30, 2019, under these arrangements and others. For obligations with cancellation provisions, the amounts included in the following table were limited to the non-cancelable portion of the agreement terms or the minimum cancellation fee. Actual expenditures will vary based on the volume of transactions and length of contractual service provided.

The Company’s commitments related to these agreements as of June 30, 2019, were as follows:



Payments Due by Fiscal Year:	Purchase Obligations
	(in thousands)
2020	$	345,498
2021	14,473
2022	14,473
2023	6,721
2024	6,721
Thereafter	36,675
Total	$	424,561

Warranties

The Company provides standard warranties on its systems. The liability amount is based on actual historical warranty spending activity by type of system, customer, and geographic region, modified for any known differences such as the impact of system reliability improvements.

Changes in the Company’s product warranty reserves were as follows:



	Year Ended
	June 30, 2019			June 24, 2018
	(in thousands)
Balance at beginning of period	$	192,480		$	161,981
Warranties issued during the period	249,737			235,252
Settlements made during the period	(307,079		)	(196,680		)
Changes in liability for pre-existing warranties	(7,206		)	(8,073		)
Balance at end of period	$	127,932		$	192,480

Legal Proceedings

While the Company is not currently a party to any legal proceedings that it believes material, the Company is either a defendant or plaintiff in various actions that have arisen from time to time in the normal course of business, including intellectual property claims. The Company accrues for a liability when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Significant judgment is required in both the determination of probability and the determination as to whether a loss is reasonably estimable. Based on current information, the Company does not believe that a material loss from known matters is probable and therefore has not recorded an accrual of any material amount for litigation or other contingencies related to existing legal proceedings.

Comprehensive Income (Loss) (Tables)

12 Months Ended

Jun. 30, 2019

Equity [Abstract]

Components of Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss, net of tax at the end of June 30, 2019, as well as the activity during the fiscal year ended June 30, 2019, were as follows:



	Accumulated Foreign Currency Translation Adjustment				Accumulated Unrealized Gain or Loss on Cash Flow Hedges				Accumulated Unrealized Holding Gain or Loss on Available-For- Sale Investments				Accumulated Unrealized Components of Defined Benefit Plans			Total
	(in thousands)
Balance as of June 24, 2018	$	(32,722	)		$	(4,042	)		$	(1,190	)		$	(19,495	)	$	(57,449	)
Other comprehensive (loss) income before reclassifications	(9,470		)		2,860				3,535				(1,153		)	(4,228		)
Losses (gains) reclassified from accumulated other comprehensive income (loss) to net income	2,822			⁽¹⁾	(2,749		)	⁽²⁾	(199		)	⁽¹⁾	—			(126		)
Effects of ASU 2018-02 adoption	—				(399		)		—				(1,828		)	(2,227		)
Net current-period other comprehensive income (loss)	(6,648		)		(288		)		3,336				(2,981		)	(6,581		)
Balance as of June 30, 2019	$	(39,370	)		$	(4,330	)		$	2,146			$	(22,476	)	$	(64,030	)


(1)	Amount of after-tax gain reclassified from accumulated other comprehensive income into net income located in other expense, net.

(2)

Income Taxes - Changes in Balance of Gross Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 24, 2018	Jun. 25, 2017
Changes in Gross Unrecognized Tax Benefits
Beginning balance	$ 305,413	$ 339,447	$ 417,432
Settlements and effective settlements with tax authorities	(3,705)	(693)	(6,691)
Lapse of statute of limitations	(28,176)	(88,837)	(113,491)
Increases in balances related to tax positions taken during prior periods	78,927	2,044	6,557
Decreases in balances related to tax positions taken during prior periods	(1,577)	(1,320)	(11,528)
Increases in balances related to tax positions taken during current period	69,890	54,772	47,168
Ending balance	$ 420,772	$ 305,413	$ 339,447

Retirement and Deferred Compensation Plans	12 Months Ended
Retirement and Deferred Compensation Plans	Jun. 30, 2019
Retirement Benefits [Abstract]
Retirement and Deferred Compensation Plans	Retirement and Deferred Compensation Plans Employee Savings and Retirement Plan The Company maintains a 401(k) retirement savings plan for its eligible employees in the United States. Each participant in the plan may elect to contribute from 1% to 75% of annual eligible earnings to the plan, subject to statutory limitations. The Company makes matching employee contributions in cash to the plan at the rate of 50% of the first 6% of earnings contributed. Employees participating in the 401(k) retirement savings plan are fully vested in the Company matching contributions, and investments are directed by participants. The Company made matching contributions of $24.1 million, $21.4 million, and $15.2 million, in fiscal years 2019, 2018, and 2017, respectively. Deferred Compensation Arrangements The Company has an unfunded, non-qualified deferred compensation plan whereby certain executives may defer a portion of their compensation. Participants earn a return on their deferred compensation based on their allocation of their account balance among various mutual funds. The Company controls the investment of these funds, and the participants remain general creditors of the Company. Participants are able to elect the payment of benefits on a specified date at least three years after the opening of a deferral sub-account or upon retirement. Distributions are made in the form of lump sum or annual installments over a period of up to 20 years as elected by the participant. If no alternate election has been made, a lump sum payment will be made upon termination of a participant’s employment with the Company. As of June 30, 2019, and June 24, 2018, the liability of the Company to the plan participants was $207.0 million and $188.0 million, respectively, which was recorded in accrued expenses and other current liabilities and other long-term liabilities on the Consolidated Balance Sheets. As of June 30, 2019, and June 24, 2018, the Company had investments in the aggregate amount of $228.9 million and $209.0 million, respectively, which correlate to the deferred compensation obligations, which were recorded in other assets on the Consolidated Balance Sheets. Post-Retirement Healthcare Plan The Company maintains a post-retirement healthcare plan for certain executive and director retirees. Coverage continues through the duration of the lifetime of the retiree or the retiree’s spouse, whichever is longer. The benefit obligation was $40.5 million and $37.2 million as of June 30, 2019, and June 24, 2018, respectively.

Recent Accounting Pronouncements - Additional Information (Details) - USD ($)
$ in Thousands

Jun. 25, 2018

Jun. 30, 2019

Sep. 23, 2018

Jun. 24, 2018

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Other assets

$ 425,123

$ 367,979

ASU 2014-09

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative-effect adjustment to retained earnings

^[1]

$ 139,355

ASU 2014-09 | Retained Earnings

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative-effect adjustment to retained earnings

^[1]

139,355

ASU 2016-16

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative-effect adjustment to retained earnings

^[1]

(443)

Other assets

$ 400

ASU 2016-16 | Retained Earnings

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative-effect adjustment to retained earnings

(443)

^[1]

(400)

ASU 2018-02 | Retained Earnings

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative-effect adjustment to retained earnings

2,200

ASU 2018-02 | Other comprehensive income

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative-effect adjustment to retained earnings

$ (2,200)

Adjustments | ASU 2014-09

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Cumulative effect adjustment, net of tax adjustment

139,400

Cumulative effect on retained earnings, tax

$ 21,000

[1]	Refer to Note 3 - Recent Accounting Pronouncements for more information regarding these FASB Accounting Standard Updates.

Equity-based Compensation Plans - Recognized Equity Based Compensation Expenses and Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 24, 2018	Jun. 25, 2017
Share-based Payment Arrangement [Abstract]
Equity-based compensation expense	$ 187,234	$ 172,216	$ 149,975
Income tax benefit recognized related to equity-based compensation	47,396	87,505	38,381
Income tax benefit realized from the exercise and vesting of options and RSUs	$ 49,242	$ 90,297	$ 92,749

Retirement and Deferred Compensation Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2019	Jun. 24, 2018	Jun. 25, 2017
Retirement Benefits [Abstract]
Minimum employee 401K contribution (percent)	1.00%
Maximum employee 401K contribution (percent)	75.00%
Employer contribution matching (percent)	50.00%
Maximum employee contributions matched by the Company (percent)	6.00%
Defined benefit plan, contribution by employer	$ 24.1	$ 21.4	$ 15.2
Payment of benefits, duration after opening of a deferral subaccount or upon retirement (at least)	3 years
Deferred compensation plan maximum distribution period	20 years
Liabilities of Company to plan participants	$ 207.0	188.0
Assets correlated to the deferred compensation obligation	228.9	209.0
Defined benefit obligations	$ 40.5	$ 37.2

Equity-based Compensation Plans - Summary of Stock Plan Activity (Details) - $ / shares	12 Months Ended
	Jun. 30, 2019	Jun. 24, 2018	Jun. 25, 2017
Number of Shares
Beginning balance (shares)	482,928	594,059	907,411
Granted (shares)	181,450	63,980	90,128
Exercised (shares)	(110,427)	(166,481)	(389,460)
Forfeited or expired (shares)	(59,068)	(8,630)	(14,020)
Ending balance (shares)	494,883	482,928	594,059
Weighted-Average Exercise Price
Beginning balance (usd per share)	$ 86.53	$ 66.69	$ 47.41
Granted (usd per share)	164.54	190.07	119.67
Exercised (usd per share)	61.69	55.62	33.92
Forfeited or expired (usd per share)	126.05	84.44	69.81
Ending balance (usd per share)	$ 115.96	$ 86.53	$ 66.69
Service-based RSUs Outstanding
Number of Shares
Beginning balance (shares)	2,193,088	2,687,606	3,256,513
Granted (shares)	893,622	964,391	1,224,877
Vested (shares)	(1,135,284)	(1,362,369)	(1,677,318)
Forfeited or canceled (shares)	(154,541)	(96,540)	(116,466)
Ending balance (shares)	1,796,885	2,193,088	2,687,606
Weighted-Average Grant Date Fair Value
Beginning balance (usd per share)	$ 134.34	$ 92.01	$ 71.34
Granted (usd per share)	161.64	183.97	114.13
Vested (usd per share)	115.23	87.80	69.10
Forfeited or canceled (usd per share)	141.38	108.67	76.76
Ending balance (usd per share)	$ 159.36	$ 134.34	$ 92.01
Market-based RSUs Outstanding
Number of Shares
Beginning balance (shares)	693,726	862,455	1,078,591
Granted (shares)	163,529	285,866	435,694
Vested (shares)	(301,622)	(407,024)	(592,321)
Forfeited or canceled (shares)	(120,859)	(47,571)	(59,509)
Ending balance (shares)	434,774	693,726	862,455
Weighted-Average Grant Date Fair Value
Beginning balance (usd per share)	$ 104.59	$ 83.83	$ 63.12
Granted (usd per share)	165.78	170.15	111.75
Vested (usd per share)	70.58	76.88	46.67
Forfeited or canceled (usd per share)	104.73	91.36	66.81
Ending balance (usd per share)	$ 144.57	$ 104.59	$ 83.83

Business Combinations (Tables)

12 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

Schedule of Preliminary Purchase Price Allocation

The following table represents the purchase price allocation and summarizes the aggregate estimated fair value of the net assets acquired on the closing date of the acquisition:



	Purchase Price Allocation
	(in thousands)
Intangible assets	$	48,500
Assets acquired (including cash of $8.7 million)	11,463
Goodwill	98,917
Liabilities assumed	(21,269		)
Fair value of net assets acquired	$	137,611

Schedule of Identified Intangible Assets Assumed in the Acquisition

The identified intangible assets assumed in the acquisition of Coventor were recognized as follows based upon their fair values as of August 28, 2017:



	Fair Value		Weighted-Average Estimated Useful Life
	(In thousands)		(In years)
Existing technology	$	26,200	6.0
Customer relationships	15,000		6.0
Trade names and other intangible assets	7,300		6.4
Total identified intangible assets	$	48,500	6.0

Income Taxes - Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 24, 2018	Jun. 25, 2017
Income Tax Disclosure [Abstract]
United States	$ (59,876)	$ 128,190	$ 7,553
Foreign	2,506,447	3,023,599	1,804,120
Income before income taxes	$ 2,446,571	$ 3,151,789	$ 1,811,673

Financial Instruments - Schedule of Amortized Cost and Fair Value of Cash Equivalents, Short-Term Investments, and Restricted Cash and Investments with Contractual Maturities (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Cost
Due in one year or less	$ 4,842,996
Due after one year through five years	331,707
Due in more than five years	41,612
Debt securities, Cost	5,216,315
Estimated Fair Value
Due in one year or less	4,844,145
Due after one year through five years	333,019
Due in more than five years	41,756
Estimated fair value due, Total	$ 5,218,920

Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2019	Jun. 24, 2018	Jun. 25, 2017
Change in Accumulated Other Comprehensive Loss
Beginning balance	$ 6,501,851	$ 6,817,451	$ 5,894,517
Other comprehensive (loss) income before reclassifications	(4,228)
Losses (gains) reclassified from accumulated other comprehensive income (loss) to net income	(126)
Effects of ASU 2018-02 adoption	(2,227)
Other comprehensive (loss) income, net of tax	(6,581)	4,251	7,633
Ending balance	4,673,865	6,501,851	6,817,451
Accumulated Foreign Currency Translation Adjustment
Change in Accumulated Other Comprehensive Loss
Beginning balance	(32,722)
Other comprehensive (loss) income before reclassifications	(9,470)
Losses (gains) reclassified from accumulated other comprehensive income (loss) to net income	2,822
Effects of ASU 2018-02 adoption	0
Other comprehensive (loss) income, net of tax	(6,648)
Ending balance	(39,370)	(32,722)
Accumulated Unrealized Gain or Loss on Cash Flow Hedges
Change in Accumulated Other Comprehensive Loss
Beginning balance	(4,042)
Other comprehensive (loss) income before reclassifications	2,860
Losses (gains) reclassified from accumulated other comprehensive income (loss) to net income	(2,749)
Effects of ASU 2018-02 adoption	(399)
Other comprehensive (loss) income, net of tax	(288)
Ending balance	(4,330)	(4,042)
Accumulated Unrealized Holding Gain or Loss on Available-For- Sale Investments
Change in Accumulated Other Comprehensive Loss
Beginning balance	(1,190)
Other comprehensive (loss) income before reclassifications	3,535
Losses (gains) reclassified from accumulated other comprehensive income (loss) to net income	(199)
Effects of ASU 2018-02 adoption	0
Other comprehensive (loss) income, net of tax	3,336
Ending balance	2,146	(1,190)
Accumulated Unrealized Components of Defined Benefit Plans
Change in Accumulated Other Comprehensive Loss
Beginning balance	(19,495)
Other comprehensive (loss) income before reclassifications	(1,153)
Losses (gains) reclassified from accumulated other comprehensive income (loss) to net income	0
Effects of ASU 2018-02 adoption	(1,828)
Other comprehensive (loss) income, net of tax	(2,981)
Ending balance	(22,476)	(19,495)
Total
Change in Accumulated Other Comprehensive Loss
Beginning balance	(57,449)	(61,700)	(69,333)
Other comprehensive (loss) income, net of tax		4,251	7,633
Ending balance	$ (64,030)	$ (57,449)	$ (61,700)

Inventories

12 Months Ended

Jun. 30, 2019

Inventory Disclosure [Abstract]

Inventories

Inventories are stated at the lower of cost (first-in, first-out method) or net realizable value. System shipments to customers in Japan, for which title does not transfer until customer acceptance, are classified as finished goods inventory and carried at cost until title transfers. Inventories consist of the following:



	June 30, 2019		June 24, 2018
	(in thousands)
Raw materials	$	994,738	$	916,438
Work-in-process	174,219		222,921
Finished goods	371,183		736,803
	$	1,540,140	$	1,876,162

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 24, 2018
Payables and Accruals [Abstract]
Accrued compensation	$ 336,090	$ 506,471
Warranty reserves	127,932	192,480
Income and other taxes payable	49,926	185,384
Dividend payable	158,868	174,372
Other	273,825	250,502
Accrued expenses and other current liabilities	$ 946,641	$ 1,309,209

Business Combinations - Additional Information (Details) - USD ($)		12 Months Ended
	Aug. 28, 2017	Jun. 30, 2019	Jun. 24, 2018	Jun. 25, 2017
Business Combinations [Abstract]
Total purchase consideration	$ 137,600,000
SG&A
Business Acquisition [Line Items]
Acquisition related costs		$ 0	$ 2,900,000	$ 9,800,000

Label	Element	Value
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	$ 255,177,000
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	256,301,000
Restricted Cash and Cash Equivalents	us-gaap_RestrictedCashAndCashEquivalents	256,205,000
Dividends Payable	us-gaap_DividendsPayableCurrentAndNoncurrent	158,868,000
Dividends Payable	us-gaap_DividendsPayableCurrentAndNoncurrent	174,372,000
Dividends Payable	us-gaap_DividendsPayableCurrentAndNoncurrent	72,738,000
Accounting Standards Update 2016-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	40,065,000
Accounting Standards Update 2016-09 [Member] \| Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 40,065,000

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Jun. 30, 2019	Jun. 24, 2018	Jun. 25, 2017
Accounting Policies [Abstract]
Impairments of goodwill	$ 0	$ 0	$ 0
Impairment loss on long-lived assets	0	0	0
Other-than-temporary impairment charge		$ 42,456,000	$ 0
Other-than-temporary impairment charge	$ 0
Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Office equipment, furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Computer Software \| Minimum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	3 years
Computer Software \| Maximum
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	5 years
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, useful life	25 years

Long Term Debt and Other Borrowings - Components of Convertible Notes (Details) - 2041 Notes $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2019 USD ($) $ / shares shares	Jun. 24, 2018 USD ($)
Debt Instrument [Line Items]
Remaining amortization period (years)	21 years 10 months 24 days	22 years 10 months 24 days
Fair Value of Notes (Level 2)	$ 1,229,475
Conversion rate (shares of common stock per $1,000 principal amount of notes)	0.0309197
Conversion price (per share of common stock) \| $ / shares	$ 32.34
If-converted value in excess of par value	$ 1,020,965
Estimated share dilution using average quarterly stock price of $189.73 per share \| shares	5,447
Average quarterly stock price (usd per share) \| $ / shares	$ 189.73
Permanent Equity
Debt Instrument [Line Items]
Carrying amount of equity component, net of tax	$ 160,604	$ 159,120
Temporary Equity
Debt Instrument [Line Items]
Carrying amount of equity component, net of tax	$ 49,439	$ 78,192

Financial Instruments - Schedule of Outstanding Foreign Currency Contracts (Details) - Foreign currency forward contracts - Foreign currency forward contracts $ in Thousands	Jun. 30, 2019 USD ($)
Derivatives Designated As Hedging Instruments \| Buy Contracts
Derivative [Line Items]
Outstanding foreign currency contracts	$ 58,398
Derivatives Designated As Hedging Instruments \| Buy Contracts \| Japanese yen
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Designated As Hedging Instruments \| Buy Contracts \| Euro
Derivative [Line Items]
Outstanding foreign currency contracts	43,776
Derivatives Designated As Hedging Instruments \| Buy Contracts \| Korean won
Derivative [Line Items]
Outstanding foreign currency contracts	14,622
Derivatives Designated As Hedging Instruments \| Buy Contracts \| British pound sterling
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Designated As Hedging Instruments \| Buy Contracts \| Taiwan dollar
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Designated As Hedging Instruments \| Buy Contracts \| Swiss franc
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Designated As Hedging Instruments \| Buy Contracts \| Chinese renminbi
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Designated As Hedging Instruments \| Buy Contracts \| Indian rupee
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Designated As Hedging Instruments \| Buy Contracts \| Singapore dollar
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Designated As Hedging Instruments \| Sell Contracts
Derivative [Line Items]
Outstanding foreign currency contracts	115,844
Derivatives Designated As Hedging Instruments \| Sell Contracts \| Japanese yen
Derivative [Line Items]
Outstanding foreign currency contracts	115,844
Derivatives Designated As Hedging Instruments \| Sell Contracts \| Euro
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Designated As Hedging Instruments \| Sell Contracts \| Korean won
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Designated As Hedging Instruments \| Sell Contracts \| British pound sterling
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Designated As Hedging Instruments \| Sell Contracts \| Taiwan dollar
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Designated As Hedging Instruments \| Sell Contracts \| Swiss franc
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Designated As Hedging Instruments \| Sell Contracts \| Chinese renminbi
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Designated As Hedging Instruments \| Sell Contracts \| Indian rupee
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Designated As Hedging Instruments \| Sell Contracts \| Singapore dollar
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Not Designated as Hedging Instruments \| Buy Contracts
Derivative [Line Items]
Outstanding foreign currency contracts	241,961
Derivatives Not Designated as Hedging Instruments \| Buy Contracts \| Japanese yen
Derivative [Line Items]
Outstanding foreign currency contracts	76,013
Derivatives Not Designated as Hedging Instruments \| Buy Contracts \| Euro
Derivative [Line Items]
Outstanding foreign currency contracts	23,964
Derivatives Not Designated as Hedging Instruments \| Buy Contracts \| Korean won
Derivative [Line Items]
Outstanding foreign currency contracts	7,778
Derivatives Not Designated as Hedging Instruments \| Buy Contracts \| British pound sterling
Derivative [Line Items]
Outstanding foreign currency contracts	45,783
Derivatives Not Designated as Hedging Instruments \| Buy Contracts \| Taiwan dollar
Derivative [Line Items]
Outstanding foreign currency contracts	28,992
Derivatives Not Designated as Hedging Instruments \| Buy Contracts \| Swiss franc
Derivative [Line Items]
Outstanding foreign currency contracts	26,694
Derivatives Not Designated as Hedging Instruments \| Buy Contracts \| Chinese renminbi
Derivative [Line Items]
Outstanding foreign currency contracts	14,390
Derivatives Not Designated as Hedging Instruments \| Buy Contracts \| Indian rupee
Derivative [Line Items]
Outstanding foreign currency contracts	9,473
Derivatives Not Designated as Hedging Instruments \| Buy Contracts \| Singapore dollar
Derivative [Line Items]
Outstanding foreign currency contracts	8,874
Derivatives Not Designated as Hedging Instruments \| Sell Contracts
Derivative [Line Items]
Outstanding foreign currency contracts	36,732
Derivatives Not Designated as Hedging Instruments \| Sell Contracts \| Japanese yen
Derivative [Line Items]
Outstanding foreign currency contracts	36,732
Derivatives Not Designated as Hedging Instruments \| Sell Contracts \| Euro
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Not Designated as Hedging Instruments \| Sell Contracts \| Korean won
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Not Designated as Hedging Instruments \| Sell Contracts \| British pound sterling
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Not Designated as Hedging Instruments \| Sell Contracts \| Taiwan dollar
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Not Designated as Hedging Instruments \| Sell Contracts \| Swiss franc
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Not Designated as Hedging Instruments \| Sell Contracts \| Chinese renminbi
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Not Designated as Hedging Instruments \| Sell Contracts \| Indian rupee
Derivative [Line Items]
Outstanding foreign currency contracts	0
Derivatives Not Designated as Hedging Instruments \| Sell Contracts \| Singapore dollar
Derivative [Line Items]
Outstanding foreign currency contracts	$ 0