XML 20 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Jul. 02, 2016
Jun. 27, 2015
Jun. 28, 2014
OPERATING ACTIVITIES:      
Net income (loss) $ 9.3 $ (3.4) $ 10.7
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation expense 47.4 43.0 35.5
Stock-based compensation 24.9 18.2 18.5
Unrealized loss on derivative liability 0.6 0.0 0.0
Amortization of acquired technologies and other intangibles 7.2 8.0 9.3
Disposal of property, plant and equipment 0.6 (1.2) 0.1
Other non-cash (income) expenses 0.0 (0.9) (1.5)
Changes in operating assets and liabilities:      
Accounts receivable (21.8) (17.8) (15.1)
Inventories (3.1) (6.2) (13.5)
Prepayments and other current and non-currents assets (12.7) (14.5) 3.5
Deferred taxes, net (1.7) 1.9 (2.5)
Accounts payable 28.9 1.0 18.7
Accrued payroll and related expenses 9.2 (1.0) 0.6
Income taxes payable (1.7) (10.8) (0.5)
Accrued expenses and other current and non-current liabilities (0.5) (6.9) (1.0)
Net cash provided by operating activities 86.6 9.4 62.8
INVESTING ACTIVITIES:      
Purchase of property, plant and equipment (82.0) (53.7) (64.2)
Acquisition of businesses, net of cash acquired 0.0 0.0 (12.8)
Proceeds from the sales of property and equipment 0.0 0.2 0.1
Net cash used in investing activities (82.0) (53.5) (76.9)
FINANCING ACTIVITIES:      
Net transfers from (to) Viavi 134.2 40.6 26.2
Payment of dividends - preferred stock (0.5) 0.0 0.0
Payment of financing obligation related to acquisition (2.3) 0.0 0.0
Issuance of common stock under employee stock plan 3.1 0.0 0.0
Proceeds from the exercise of stock options 1.9 0.0 0.0
Net cash provided by financing activities 136.4 40.6 26.2
Effect of exchange rates on cash and cash equivalents 1.4 (1.9) 0.0
Increase (decrease) in cash and cash equivalents 142.6 (5.4) 12.1
Cash and cash equivalents at beginning of period 14.5 19.9 7.8
Cash and cash equivalents at end of period 157.1 14.5 19.9
Non-cash financing activities:      
Accretion of Series A preferred stock 11.7 0.0 0.0
Supplemental cash flow information      
Income taxes paid 2.7    
Purchases of property, plant, and equipment 9.0    
Convertible Series A Preferred Stock      
Non-cash financing activities:      
Cumulative dividends on Series A preferred stock $ 0.8 $ 0.0 $ 0.0