BUSINESS COMBINATIONS (Tables)

6 Months Ended

Dec. 23, 2012

Consideration Transferred to Acquire Novellus

The table below details the consideration transferred to acquire Novellus:


	Conversion		Estimated
(in thousands, except per share amounts)	Calculation		Fair Value
Lam common stock issued at merger		82,689
Per share price of Lam common stock as of June 4, 2012	$	35.99	$	2,975,977

Estimated fair value of vested Lam equivalent restricted stock ⁽¹⁾			$	9,599
Estimated fair value of vested Lam equivalent stock options ⁽²⁾				41,412

Estimated purchase price consideration			$	3,026,988

(1)	The fair value of Lam Research equivalent restricted stock as of the acquisition date was estimated based upon the per share price of Lam Research common stock as of June 4, 2012, and giving effect to the exchange ratio of 1.125.

(2)	The fair value of the Lam Research equivalent stock options as of the acquisition date was estimated using the Black-Scholes valuation model. Assumptions used are the same as those for acquired awards as disclosed in Note 11 of Notes to Condensed Consolidated Financial Statements.

Summary of Assets Acquired and Liabilities Assumed

The following table summarizes the assets acquired and liabilities assumed as of the acquisition date:


	June 4, 2012
	(in thousands)
Cash and investments	$	1,059,859
Accounts receivable		241,924
Inventory		309,213
Other current assets		56,314
Property and equipment		289,126
Intangible assets		1,219,100
Goodwill		1,277,121
Other long-term assets		35,826

Total assets acquired		4,488,483
Accounts payable		(83,028	)
Accrued expenses and other current liabilities		(196,677	)
Deferred revenue		(20,388	)
Debt		(509,805	)
Other long-term liabilities		(323,471	)
Convertible notes—equity component		(328,126	)

Net assets acquired	$	3,026,988

- Definition

Tabular disclosure of the equity interest issued or issuable in a business acquisition (or series of individually immaterial business acquisitions) planned, initiated, or completed during the period.

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