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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Oct. 02, 2021
Sep. 26, 2020
OPERATING ACTIVITIES:    
Net income $ 81.5 $ 67.1
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 20.4 23.8
Stock-based compensation 24.8 19.5
Amortization of acquired intangibles 21.4 20.7
(Gain) loss on sales and dispositions of property, plant and equipment (5.3) 0.9
Amortization of debt discount and debt issuance costs 15.3 14.4
Other non-cash expense 3.3 1.0
Changes in operating assets and liabilities:    
Accounts receivable (50.4) (30.3)
Inventories (10.3) (22.9)
Operating lease right-of-use assets, net (7.8) 4.0
Prepayments and other current and non-currents assets (3.9) (7.7)
Income taxes, net (18.1) 14.4
Accounts payable (10.5) (5.4)
Accrued payroll and related expenses (11.4) (9.5)
Operating lease liabilities 9.8 (1.6)
Accrued expenses and other current and non-current liabilities 3.1 16.3
Net cash provided by operating activities 61.9 104.7
INVESTING ACTIVITIES:    
Payments for acquisition of property, plant and equipment (17.9) (26.3)
Proceeds from sale of product lines 0.0 0.5
Purchases of short-term investments (255.9) (491.5)
Proceeds from maturities and sales of short-term investments 151.0 403.3
Proceeds from the sales of property, plant and equipment 5.9 0.0
Net cash used in investing activities (116.9) (114.0)
FINANCING ACTIVITIES:    
Repurchase of common stock (91.7) 0.0
Payment of withholding taxes related to net share settlement of restricted stock units (16.6) (19.1)
Principal payments on finance leases 0.0 (0.2)
Proceeds from the exercise of stock options 0.0 0.1
Net cash used in financing activities (108.3) (19.2)
Decrease in cash and cash equivalents (163.3) (28.5)
Cash and cash equivalents at beginning of period 774.3 298.0
Cash and cash equivalents at end of period 611.0 269.5
Supplemental disclosure of cash flow information:    
Cash paid for taxes 36.3 2.0
Cash paid for interest 0.6 0.6
Supplemental disclosure of non-cash transactions:    
Unpaid property, plant and equipment in accounts payable and accrued expenses 5.8 11.1
Repurchase of common stock pending settlement 5.1 0.0
Right-of-use assets obtained in exchange for new operating lease liabilities $ 10.5 $ 0.0