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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Sep. 27, 2019
Sep. 28, 2018
Sep. 29, 2017
Cash flows from operating activities:      
Net earnings $ 292.2 $ 150.3 $ 219.2
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Share-based compensation expense 47.9 45.9 41.2
Depreciation 53.8 52.1 58.5
Amortization of intangible assets and inventory step-up 39.2 20.6 18.4
Deferred taxes 18.9 48.0 (23.3)
Provision to allowance for doubtful accounts 6.6 4.0 43.7
Gain on sale of equity investments, net (21.8) 0.0 0.0
Impairment charges 50.6 22.4 51.4
Write-off of in-process research and development related to acquisition-related activities 20.8 0.0 0.0
Change in fair value of contingent consideration 18.6 0.0 0.3
Other, net (2.3) 9.7 2.4
Changes in assets and liabilities, net of effects of acquisitions:      
Trade and unbilled receivables (111.7) (76.1) (18.0)
Inventories (106.9) (16.4) (7.2)
Prepaid expenses and other assets (40.4) (3.9) (48.9)
Accounts payable 49.7 21.9 5.5
Accrued liabilities and other long-term liabilities (14.5) 175.6 12.7
Deferred revenues 71.1 0.8 43.2
Net cash provided by operating activities 371.8 454.9 399.1
Cash flows from investing activities:      
Purchases of property, plant and equipment (58.0) (47.7) (59.1)
Acquisitions, net of cash acquired (576.2) (109.0) (3.0)
Purchase of equity investments (32.8) (10.1) (8.4)
Sale of equity investment 29.9 0.0 0.0
Sale of available-for-sale securities 8.5 15.9 0.0
Investment in available-for-sale securities 0.0 (17.8) (13.4)
Loans to CPTC (1.6) (5.9) 0.0
Issuance of notes receivable 0.0 0.0 (18.2)
Purchase of senior secured debt 0.0 0.0 (24.5)
Other, net (1.5) (0.1) (3.8)
Net cash used in investing activities (631.7) (174.7) (130.4)
Cash flows from financing activities:      
Repurchases of common stock (166.7) (181.9) (294.5)
Proceeds from issuance of common stock to employees 63.4 60.7 72.1
Tax withholdings on vesting of equity awards (14.5) (11.6) (10.7)
Cash received from Varex term facility 0.0 0.0 200.0
Cash and cash equivalents received (contributed) to Varex Imaging Corporation (4.1) 0.0 42.6
Borrowings under credit facility agreement 636.5 503.3 231.0
Repayments under credit facility agreement (636.5) (503.3) (223.5)
Net borrowings (repayments) under the credit facility agreements with maturities less than 90 days 410.0 (350.0) (322.0)
Repayment of acquired debt (16.8) 0.0 0.0
Other (0.3) (4.2) (2.2)
Net cash provided by (used in) financing activities 279.2 (487.0) (392.4)
Effects of exchange rate changes on cash and cash equivalents 8.4 4.7 (3.9)
Net decrease in cash and cash equivalents 27.7 (202.1) (127.6)
Cash and cash equivalents at beginning of period 516.4 718.5 846.1
Cash, cash equivalents and restricted cash at end of period $ 544.1 $ 516.4 $ 718.5