XML 17 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Jul. 02, 2017
Jul. 03, 2016
Cash flows from operating activities:    
Net income $ 16,714 $ 20,947
Adjustments:    
Depreciation 6,116 5,156
Amortization of intangible assets 11,736 6,096
Amortization of debt issuance costs and debt discount 3,641 3,268
Assets impairment 0 870
Stock-based compensation expense, net of amounts capitalized in inventory 11,820 10,515
Deferred income tax (3,023) (4,046)
Changes in assets and liabilities, net of acquisition    
Accounts receivable, net 582 (7,901)
Inventories 253 8,006
Prepayments and other assets 239 (118)
Accounts payable (5,530) (4,803)
Accrued compensation and related expenses (6,226) (22,936)
Deferred income on shipments to distributors 233 5,279
Income taxes payable and receivable 917 235
Other accrued liabilities and long-term liabilities (2,499) 9,684
Net cash provided by operating activities 34,973 30,252
Cash flows from investing activities:    
Acquisition, net of cash acquired (237,716) 0
Purchases of property, plant and equipment, net (8,434) (7,025)
Purchases of intangible assets (259) (150)
Purchases of short-term investments (47,689) (93,127)
Proceeds from sales of short-term investments 14,568 35,063
Proceeds from maturities of short-term investments 11,401 9,985
Net cash used in investing activities (268,129) (55,254)
Cash flows from financing activities:    
Proceeds from issuance of common stock 3,209 5,361
Repurchase of common stock (34,826) (30,563)
Payment of capital lease obligations (200) (483)
Proceeds of Initial Term B Loan, net of discount and issuance costs 194,252 0
Payment of Initial Term B Loan principal 500 0
Net cash provided by (used in) financing activities 161,935 (25,685)
Effect of exchange rates on cash and cash equivalents 1,200 (559)
Net decrease in cash and cash equivalents (70,021) (51,246)
Cash held for sale [1] 0 (1,000)
Cash and cash equivalents at beginning of period 214,554 203,231
Cash and cash equivalents at end of period 144,533 150,985
Non-cash investing activities:    
Additions to property, plant and equipment included in accounts payable 1,879 757
Fair value of partially vested employee equity awards related to pre-combination services that were assumed as part of the acquisition $ 3,400 $ 0
[1] For the three months ended July 3, 2016, the impact of assets and liabilities reclassified as held for sale during such period was not considered in the changes in operating assets and liabilities, net of acquisition within cash flows from operating activities. See Note 4 "Divestitures" for more details on the assets and liabilities reclassified as held for sale.