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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Dec. 27, 2025
Dec. 28, 2024
OPERATING ACTIVITIES:    
Net income (loss) $ 82.4 $ (143.3)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation expense 58.4 52.9
Stock-based compensation 87.8 74.4
Bad debt recovery (0.1) 0.0
Change in valuation allowance on deferred tax assets 1.4 0.0
Amortization and write-off of acquired intangibles 68.4 82.6
Write-down and loss on sales and dispositions of property, plant and equipment 12.0 0.8
Amortization of debt discount and debt issuance costs 1.9 1.5
Inducement expense on partial repurchase of 2026 Notes 5.9 0.0
Write-off of right-of-use assets 0.0 5.5
Other non-cash items (6.2) (8.6)
Changes in operating assets and liabilities:    
Accounts receivable (126.7) (32.2)
Inventories (102.5) (5.0)
Operating lease right-of-use assets, net (1.7) 2.4
Prepayments and other current and non-currents assets (27.4) (15.0)
Income taxes, net 1.5 28.5
Accounts payable 79.9 38.7
Accrued payroll and related expenses 27.4 4.0
Operating lease liabilities 0.4 (3.4)
Accrued expenses and other current and non-current liabilities 21.8 (19.9)
Net cash provided by operating activities 184.6 63.9
INVESTING ACTIVITIES:    
Payments for acquisition of property, plant and equipment (159.8) (114.3)
Purchases of short-term investments (257.5) (190.4)
Proceeds from maturities and sales of short-term investments 118.0 226.7
Proceeds from the sales of property, plant and equipment 0.1 0.2
Net cash used in investing activities (299.2) (77.8)
FINANCING ACTIVITIES:    
Proceeds from the issuance of 2032 Notes, net of issuance costs 1,254.7 0.0
Proceeds from term loans 47.9 76.5
Proceeds from employee stock plans 8.7 8.1
Payment for partial repurchase of 2026 Notes (843.1) 0.0
Payment for 2032 capped call options (102.0) 0.0
Payment of withholding taxes related to net share settlement of restricted stock units (107.4) (23.8)
Principal payments on term loans (5.1) (2.9)
Payment of acquisition related holdback 0.0 (1.0)
Net cash provided by financing activities 251.6 56.9
Increase in cash and cash equivalents 137.0 43.0
Cash and cash equivalents at beginning of period 520.7 436.7
Cash and cash equivalents at end of period 657.7 479.7
Supplemental disclosure of cash flow information:    
Cash paid (refund) for taxes, net 17.9 (6.9)
Cash paid for interest 10.3 9.5
Supplemental disclosure of non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for new operating lease liabilities 6.8 3.7
Net transfer of assets from property plant and equipment to assets held-for-sale 44.9 13.9
Unpaid financing costs related to revolving credit facility 0.5 0.0
Convertible notes    
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Amortization of debt discount and debt issuance costs 1.9 1.5
FINANCING ACTIVITIES:    
Payment for financing costs related to revolving credit facility (0.1) 0.0
Revolving Credit Facility    
FINANCING ACTIVITIES:    
Payment for financing costs related to revolving credit facility $ (2.0) $ 0.0