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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 25, 2023
Mar. 26, 2022
Mar. 27, 2021
Cash flows from operating activities:      
Net income $ 176,703 $ 326,355 $ 217,344
Adjustments to net cash provided by operating activities:      
Depreciation and amortization 71,202 62,061 47,083
Stock-based compensation expense 81,641 66,392 56,762
Deferred income taxes (34,513) (15,002) (5,581)
Loss on retirement or write-off of long-lived assets 656 642 371
Other non-cash (gains) / charges 3,102 370 (622)
Lease impairments and restructuring 10,632 0 352
Intangibles impairment 85,760 0 0
Net change in operating assets and liabilities:      
Accounts receivable, net 89,791 (124,826) 45,286
Inventories (95,014) 42,502 (26,538)
Prepaid wafers 0 (195,000) 0
Other assets 1,852 (92,584) 843
Accounts payable (34,307) 10,529 21,104
Accrued salaries and benefits (15,108) 10,049 12,410
Income taxes payable (6,019) (804) (18,185)
Acquisition-related liabilities 12,654 39,656 0
Other accrued liabilities (9,464) (5,587) (1,684)
Net cash provided by operating activities 339,568 124,753 348,945
Cash flows from investing activities:      
Maturities and sales of available-for-sale marketable securities 18,683 371,545 168,328
Purchases of available-for-sale marketable securities (15,299) (83,023) (225,528)
Purchases of property, equipment and software (35,090) (26,139) (18,253)
Investments in technology (1,624) (3,871) (2,222)
Acquisition of business, net of cash obtained 0 (276,884) 0
Net cash used in investing activities (33,330) (18,372) (77,675)
Cash flows from financing activities:      
Debt issuance costs 0 (1,718) 0
Payment of acquisition-related holdback (30,949) 0 0
Issuance of common stock, net of shares withheld for taxes 10,145 13,220 7,128
Repurchase of stock to satisfy employee tax withholding obligations (18,082) (22,732) (18,367)
Repurchase and retirement of common stock (191,382) (167,501) (109,986)
Net cash used in financing activities (230,268) (178,731) (121,225)
Net increase (decrease) in cash and cash equivalents 75,970 (72,350) 150,045
Cash and cash equivalents at beginning of period 369,814 442,164 292,119
Cash and cash equivalents at end of period 445,784 369,814 442,164
Cash payments during the year for:      
Income taxes 91,955 35,693 28,988
Interest $ 537 $ 572 $ 610