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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Dec. 28, 2024
Sep. 28, 2024
Mar. 30, 2024
Dec. 30, 2023
OPERATING ACTIVITIES        
Net income $ 201.0 $ 178.6 $ 169.9 $ 246.5
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation 23.3     29.6
Amortization of acquired intangible assets 50.7     58.8
Stock-based compensation expense 30.1     28.7
Deferred income taxes (19.5)     (17.6)
Intangible asset impairment charge 0.0     4.3
Other adjustments and non-cash items (19.1)     27.5
Changes in operating assets and liabilities, excluding the effect of acquisitions and dispositions:        
Accounts receivable (41.7)     (38.2)
Inventories (36.1)     (13.0)
Prepaid income taxes 29.2     (70.1)
Prepaid expenses and other assets 13.2     2.6
Accounts payable 36.2     7.2
Accrued expenses and other liabilities (54.6)     (35.7)
Deferred revenue (23.4)     (10.6)
Net cash provided by operating activities 189.3     220.0
INVESTING ACTIVITIES        
Acquisition of businesses, net of cash acquired (0.3)     0.0
Acquisition of intangible assets (15.4)     0.0
Sale of business, net of cash disposed 0.0     (31.3)
Capital expenditures (16.8)     (22.7)
Increase in equipment under customer usage agreements (14.8)     (15.3)
Strategic investments 6.0     34.5
Maturities of available-for-sale securities 32.0     0.0
Other activity (0.7)     (0.4)
Net cash used in investing activities (22.0)     (104.2)
FINANCING ACTIVITIES        
Repayment of long-term debt (9.4)     (259.4)
Repurchases of common stock (517.3)     (676.8)
Proceeds from issuance of common stock pursuant to employee stock plans 12.2     9.5
Payment of minimum tax withholdings on net share settlements of equity awards (21.7)     (16.2)
Payments under finance lease obligations (0.8)     (0.9)
Net cash used in financing activities (537.0)     (943.8)
Effect of exchange rate changes on cash and cash equivalents (8.4)     4.4
Net decrease in cash and cash equivalents (378.1)     (823.6)
Cash and cash equivalents, beginning of period 2,160.2 [1]   $ 1,932.1 2,755.7 [1]
Cash and cash equivalents, end of period $ 1,782.1 $ 2,160.2 [1]   $ 1,932.1
[1] Includes $33.2 million of cash recorded in assets held-for-sale - current assets as of September 30, 2023.