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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Mar. 30, 2024
Apr. 01, 2023
OPERATING ACTIVITIES:    
Net loss $ (294.0) $ (71.4)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation expense 82.4 78.6
Stock-based compensation 98.3 116.3
Write-off of in-process research and development intangible assets 0.0 11.5
Amortization of acquired intangibles 108.7 98.3
Loss on sales and dispositions of property, plant and equipment 1.2 7.5
Amortization of debt discount and debt issuance costs 13.8 17.9
Amortization of inventory fair value adjustment in connection with acquisitions 8.3 17.8
Other non-cash items (10.4) (1.4)
Changes in operating assets and liabilities:    
Accounts receivable 37.2 51.0
Inventories 52.5 (80.6)
Operating lease right-of-use assets, net (0.5) 11.3
Prepayments and other current and non-currents assets 12.1 (8.6)
Income taxes, net (37.3) (52.1)
Accounts payable (82.8) (44.3)
Accrued payroll and related expenses (4.9) (34.6)
Operating lease liabilities 0.4 (10.8)
Accrued expenses and other current and non-current liabilities 4.2 24.2
Net cash provided by (used in) operating activities (10.8) 130.6
INVESTING ACTIVITIES:    
Payments for acquisition of property, plant and equipment (108.4) (92.2)
Acquisition of businesses, net of cash acquired (700.9) (861.6)
Purchases of short-term investments (218.7) (720.8)
Proceeds from maturities and sales of short-term investments 944.4 871.4
Payments for acquisition of intangible assets (4.0) 0.0
Proceeds from the sales of property, plant and equipment 0.8 0.1
Net cash used in investing activities (86.8) (803.1)
FINANCING ACTIVITIES:    
Repurchase of common stock 0.0 (35.8)
Payment of 0.25% Convertible Notes due 2024 (323.1) 0.0
Payment of withholding taxes related to net share settlement of restricted stock units (20.6) (33.4)
Proceeds from employee stock plans 7.3 6.6
Repayment of term loan 0.0 (5.9)
Net cash used in financing activities (336.4) (68.5)
Decrease in cash and cash equivalents (434.0) (741.0)
Cash and cash equivalents at beginning of period 859.0 1,290.2
Cash and cash equivalents at end of period 425.0 549.2
Supplemental disclosure of cash flow information:    
Cash paid for taxes, net 52.5 66.4
Cash paid for interest 10.4 6.0
Supplemental disclosure of non-cash investing and financing activities:    
Settlement of loan to NeoPhotonics 0.0 50.0
Share-based purchase price consideration in connection with the Cloud Light acquisition 23.5 0.0
Right-of-use assets obtained in exchange for new operating lease liabilities 16.0 19.4
Property, Plant and Equipment    
Supplemental disclosure of non-cash investing and financing activities:    
Unpaid property, plant and equipment/intangible assets in accounts payable and accrued expenses 12.3 10.2
Finite-Lived Intangible Assets    
Supplemental disclosure of non-cash investing and financing activities:    
Unpaid property, plant and equipment/intangible assets in accounts payable and accrued expenses $ 1.0 $ 0.0