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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Oct. 01, 2022
Oct. 02, 2021
OPERATING ACTIVITIES:    
Net income (loss) $ (0.4) $ 81.5
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 24.5 20.4
Stock-based compensation 46.6 24.8
Amortization of acquired intangibles 32.2 21.4
(Gain) loss on sales and dispositions of property, plant and equipment 0.3 (5.3)
Amortization of debt discount and debt issuance costs 5.7 15.3
Amortization of inventory fair value adjustment in connection with acquisition 4.6 0.0
Other non-cash items (2.2) 3.3
Changes in operating assets and liabilities:    
Accounts receivable (11.5) (50.4)
Inventories (24.6) (10.3)
Operating lease right-of-use assets, net 3.6 (7.8)
Prepayments and other current and non-currents assets (1.9) (3.9)
Income taxes, net (11.0) (18.1)
Accounts payable (41.1) (10.5)
Accrued payroll and related expenses (14.5) (11.4)
Operating lease liabilities (6.9) 9.8
Accrued expenses and other current and non-current liabilities 17.4 3.1
Net cash provided by operating activities 20.8 61.9
INVESTING ACTIVITIES:    
Payments for acquisition of property, plant and equipment (22.9) (17.9)
Acquisition of businesses, net of cash acquired (860.8) 0.0
Purchases of short-term investments (79.5) (255.9)
Proceeds from maturities and sales of short-term investments 316.6 151.0
Proceeds from the sales of property, plant and equipment 0.0 5.9
Net cash used in investing activities (646.6) (116.9)
FINANCING ACTIVITIES:    
Repurchase of common stock (35.8) (91.7)
Payment of withholding taxes related to net share settlement of restricted stock units (22.4) (16.6)
Repayment of term loan (0.9) 0.0
Net cash used in financing activities (59.1) (108.3)
Decrease in cash and cash equivalents (684.9) (163.3)
Cash and cash equivalents at beginning of period 1,290.2 774.3
Cash and cash equivalents at end of period 605.3 611.0
Supplemental disclosure of cash flow information:    
Cash paid for taxes 29.3 36.3
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 12.6 5.8
Repurchase of common stock pending settlement 0.0 5.1
Settlement of loan to NeoPhotonics 50.0 0.0
Right-of-use assets obtained in exchange for new operating lease liabilities 19.4 10.5
Unpaid portion of acquisition purchase price $ 0.8 $ 0.0