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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Sep. 30, 2023
Oct. 01, 2022
OPERATING ACTIVITIES:    
Net loss $ (67.9) $ (0.4)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation expense 28.2 24.5
Stock-based compensation 32.1 46.6
Amortization of acquired intangibles 29.0 32.2
Loss on sales and dispositions of property, plant and equipment 1.4 0.3
Amortization of debt discount and debt issuance costs 4.9 5.7
Amortization of inventory fair value adjustment in connection with acquisition 0.0 4.6
Other non-cash items (5.7) (2.2)
Changes in operating assets and liabilities:    
Accounts receivable 26.1 (11.5)
Inventories (16.8) (24.6)
Operating lease right-of-use assets, net 3.7 3.6
Prepayments and other current and non-currents assets 7.3 (1.9)
Income taxes, net (19.9) (11.0)
Accounts payable (28.0) (41.1)
Accrued payroll and related expenses 1.5 (14.5)
Operating lease liabilities (4.0) (6.9)
Accrued expenses and other current and non-current liabilities 5.8 17.4
Net cash provided by (used in) operating activities (2.3) 20.8
INVESTING ACTIVITIES:    
Payments for acquisition of property, plant and equipment (57.8) (22.9)
Acquisition of businesses, net of cash acquired 0.0 (860.8)
Purchases of short-term investments (149.1) (79.5)
Proceeds from maturities and sales of short-term investments 227.7 316.6
Payments for acquisition of intangible assets (3.0) 0.0
Net cash provided by (used in) investing activities 17.8 (646.6)
FINANCING ACTIVITIES:    
Repurchase of common stock 0.0 (35.8)
Payment of withholding taxes related to net share settlement of restricted stock units (12.9) (22.4)
Repayment of term loan 0.0 (0.9)
Net cash used in financing activities (12.9) (59.1)
Increase (decrease) in cash and cash equivalents 2.6 (684.9)
Cash and cash equivalents at beginning of period 859.0 1,290.2
Cash and cash equivalents at end of period 861.6 605.3
Supplemental disclosure of cash flow information:    
Cash paid for taxes, net 18.5 29.3
Cash paid for interest 0.6 0.6
Supplemental disclosure of non-cash transactions:    
Settlement of loan to NeoPhotonics 0.0 50.0
Right-of-use assets obtained in exchange for new operating lease liabilities 0.0 19.4
Unpaid portion of acquisition purchase price 0.0 0.8
Property, Plant and Equipment    
Supplemental disclosure of non-cash transactions:    
Unpaid property, plant and equipment/intangible assets in accounts payable and accrued expenses 4.2 12.6
Finite-Lived Intangible Assets    
Supplemental disclosure of non-cash transactions:    
Unpaid property, plant and equipment/intangible assets in accounts payable and accrued expenses $ 2.0 $ 0.0