XML 44 R6.htm IDEA: XBRL DOCUMENT v2.4.1.9
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Apr. 04, 2015
Mar. 29, 2014
Cash flows from operating activities:    
Net (loss) income $ (53,362)us-gaap_ProfitLoss $ 11,984us-gaap_ProfitLoss
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:    
Depreciation and amortization 7,904us-gaap_DepreciationDepletionAndAmortization 5,860us-gaap_DepreciationDepletionAndAmortization
Amortization of debt issuance costs and discount 284us-gaap_AmortizationOfFinancingCostsAndDiscounts 0us-gaap_AmortizationOfFinancingCostsAndDiscounts
Change in deferred income tax provision 23,791us-gaap_IncreaseDecreaseInDeferredIncomeTaxes 1,275us-gaap_IncreaseDecreaseInDeferredIncomeTaxes
Loss (gain) on sale of marketable securities 288us-gaap_MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments (9)us-gaap_MarketableSecuritiesGainLossExcludingOtherThanTemporaryImpairments
Stock-based compensation expense 5,621us-gaap_ShareBasedCompensation 3,090us-gaap_ShareBasedCompensation
Changes in assets and liabilities:    
Accounts receivable, net 12,294us-gaap_IncreaseDecreaseInAccountsReceivable (16,589)us-gaap_IncreaseDecreaseInAccountsReceivable
Inventories 5,210us-gaap_IncreaseDecreaseInInventories (11,958)us-gaap_IncreaseDecreaseInInventories
Prepaid expenses and other current assets (62)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (997)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Accounts payable and accrued expenses (includes restructuring) (2,707)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 5,356us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Accrued payroll obligations (3,007)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities (4,597)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities
Deferred income and allowances on sales to sell-through distributors 3,770us-gaap_IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits 9,485us-gaap_IncreaseDecreaseInDeferredRevenueAndCustomerAdvancesAndDeposits
Deferred income and allowances on sales to sell-through distributors (39)us-gaap_IncreaseDecreaseInDeferredRevenue 0us-gaap_IncreaseDecreaseInDeferredRevenue
Net cash (used in) provided by operating activities (15)us-gaap_NetCashProvidedByUsedInOperatingActivities 2,900us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:    
Proceeds from sales or maturities of short-term marketable securities 108,881us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 13,150us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
Purchases of marketable securities (4,005)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (19,050)us-gaap_PaymentsToAcquireAvailableForSaleSecurities
Cash paid for business acquisition, net of cash acquired (425,890)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired 0us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Capital expenditures, net (2,878)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (2,395)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Cash paid for a non-marketable cost-method investment (1,500)lscc_PaymentstoAcquireSecuritiesNonMarketableSecurities 0lscc_PaymentstoAcquireSecuritiesNonMarketableSecurities
Other investing activities, primarily time-based software licenses (1,523)us-gaap_PaymentsForProceedsFromOtherInvestingActivities (798)us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Net cash used in investing activities (326,915)us-gaap_NetCashProvidedByUsedInInvestingActivities (9,093)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:    
Net share settlement upon issuance of restricted stock units (1,126)lscc_NetShareSettlementUponIssuanceOfRestrictedStockUnits (1,549)lscc_NetShareSettlementUponIssuanceOfRestrictedStockUnits
Purchases of treasury stock (6,993)us-gaap_PaymentsForRepurchaseOfCommonStock 0us-gaap_PaymentsForRepurchaseOfCommonStock
Net proceeds from issuance of common stock 866us-gaap_ProceedsFromIssuanceOfCommonStock 5,774us-gaap_ProceedsFromIssuanceOfCommonStock
Net proceeds from issuance of long-term debt 346,500us-gaap_ProceedsFromRepaymentsOfDebt 0us-gaap_ProceedsFromRepaymentsOfDebt
Cash paid for debt issuance costs (8,280)us-gaap_PaymentsOfDebtIssuanceCosts 0us-gaap_PaymentsOfDebtIssuanceCosts
Net cash provided by financing activities 330,967us-gaap_NetCashProvidedByUsedInFinancingActivities 4,225us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of exchange rate change on cash (6)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (176)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net increase (decrease) in cash and cash equivalents 4,031us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (2,144)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Beginning cash and cash equivalents 115,611us-gaap_CashAndCashEquivalentsAtCarryingValue 114,310us-gaap_CashAndCashEquivalentsAtCarryingValue
Ending cash and cash equivalents 119,642us-gaap_CashAndCashEquivalentsAtCarryingValue 112,166us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental cash flow information:    
Unrealized gain (loss) related to marketable securities, net, included in Accumulated other comprehensive (loss) income 268lscc_OtherComprehensiveIncomeLossUnrealizedgainlossrelatedtomarketablesecuritiesnetincludedinAccumulatedothercomprehensiveincome (60)lscc_OtherComprehensiveIncomeLossUnrealizedgainlossrelatedtomarketablesecuritiesnetincludedinAccumulatedothercomprehensiveincome
Income taxes paid, net of refunds 1,063us-gaap_IncomeTaxesPaidNet 380us-gaap_IncomeTaxesPaidNet
Accrued purchases of plant and equipment $ (433)lscc_AccruedPurchasesofPlantandEquipment $ (68)lscc_AccruedPurchasesofPlantandEquipment