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TableofContents
Otherincome(expense),netforfiscalyear2014decreasedby$40millionfromfiscalyear2013duetoa$60milliondecreaseinlossesfromtheearly
redemptionandrepurchaseofdebtandadecreaseof$18millionininterestexpenseduetoareductionintheaverageinterestrateonouroutstandingdebt.These
decreaseswerepartiallyoffsetbyinsuranceproceedsof$25millionreceivedduringfiscalyear2013forequipmentdamagedduringtheseverefloodingin
ThailandinOctoberof2011and$17millionlowergainsonsalesofouravailableforsalesecuritiesandstrategicinvestments.
IncomeTaxes
Werecordedanincometaxbenefitof$14millionforfiscalyear2014comparedtoanincometaxbenefitof$7millionforfiscalyear2013.Ourfiscalyear
2014benefitfromincometaxesincluded$58millionofincometaxbenefitsrelatedtothereversalofaportionofthevaluationallowancesrecordedinpriorperiods
andanetdecreaseintaxreservesrelatedtoauditsettlementsoffsetbytaxreservesonnon-U.S.taxpositionstakeninpriorfiscalyears.Ourfiscalyear2013benefit
forincometaxesincluded$52millionofincometaxbenefitfromthereversalofaportionoftheU.S.valuationallowancerecordedinpriorperiods.
Ourincometaxbenefitrecordedforfiscalyear2014differedfromtheprovisionforincometaxesthatwouldbederivedbyapplyingtheIrishstatutoryrateof
25%toincomebeforeincometaxes,primarilyduetotheneteffectof(i)taxbenefitsrelatedtonon-U.S.earningsgeneratedinjurisdictionsthataresubjecttotax
holidaysortaxincentiveprogramsandareconsideredindefinitelyreinvestedoutsideofIrelandand(ii)adecreaseinvaluationallowanceforcertaindeferredtax
assets.TheacquisitionofXyratexdidnothaveamaterialimpactonoureffectivetaxrate.Fiscalyear2014includedavaluationallowancereleaseassociatedwith
post-acquisitionsrestructuring.Ourincometaxbenefitrecordedforfiscalyear2013differedfromtheprovisionforincometaxesthatwouldbederivedbyapplying
theIrishstatutoryrateof25%toincomebeforeincometaxes,primarilyduetotheneteffectof(i)taxbenefitsrelatedtonon-U.S.earningsgeneratedin
jurisdictionsthataresubjecttotaxholidaysortaxincentiveprogramsandareconsideredindefinitelyreinvestedoutsideofIreland,and(ii)adecreaseinvaluation
allowanceforcertainU.S.deferredtaxassets.TheacquisitionofamajorityinterestintheoutstandingsharesofLaCiedidnothaveamaterialimpactonour
effectivetaxrateinfiscalyear2013.
LiquidityandCapitalResources
Thefollowingsectionsdiscussourprincipalliquidityrequirements,aswellasoursourcesandusesofcashandourliquidityandcapitalresources.Ourcash
andcashequivalentsaremaintainedininvestmentswithremainingmaturitiesof90daysorlessatthetimeofpurchase.Ourshort-terminvestmentsconsist
primarilyofmoneymarketfunds,certificatesofdeposits,andotherinterest-bearingbankdeposits.Theprincipalobjectivesofourinvestmentpolicyarethe
preservationofprincipalandmaintenanceofliquidity.Webelieveourcashequivalentsandshort-terminvestmentsareliquidandaccessible.Weoperateinsome
countriesthathaverestrictiveregulationsoverthemovementofcashand/orforeignexchangeacrosstheirborders.However,theserestrictionshavenotimpeded
ourabilitytoconductourbusiness,nordoweexpectthemtointhenext12months.Wearenotawareofanydowngrades,lossesorothersignificantdeterioration
inthefairvalueofourcashequivalentsorshort-terminvestmentsandwedonotbelievethefairvalueofourshort-terminvestmentshassignificantlychangedfrom
thevaluesreportedasofJuly3,2015.
52
 FiscalYearsEnded
(Dollarsinmillions) 
June27,
2014
June28,
2013 Change
%
Change
(BenefitFrom)provisionforincometaxes $ (14) $ (7) $ (7)  100%