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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Jun. 29, 2019
Jun. 30, 2018
Jul. 01, 2017
OPERATING ACTIVITIES:      
Net income (loss) $ 5.4 $ (48.6) $ 160.2
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation expense 39.7 35.7 29.4
Amortization of acquired technologies and other intangibles 72.5 47.7 28.3
Stock-based compensation 38.2 30.5 33.2
Amortization of debt issuance costs and accretion of debt discount 22.7 36.4 34.6
Amortization of discount and premium on investments, net 0.0 0.3 0.8
Net change in fair value of contingent liabilities (5.9) 0.0 0.0
Loss (Gain) on sales of investments 0.5 0.0 (203.1)
Loss on disposal of long-lived assets 1.4 2.1 5.7
Loss on extinguishment of debt 0.0 5.0 1.1
Other 5.1 2.2 4.8
Changes in operating assets and liabilities, net of separation distribution and acquisitions:      
Accounts receivable (15.2) (51.9) 23.7
Inventories (15.4) (5.5) (1.1)
Other current and non-currents assets (2.5) 2.6 (18.2)
Accounts payable 8.7 13.2 (14.8)
Income taxes payable 5.0 1.1 (0.2)
Deferred revenue, current and non-current (3.1) 7.3 (20.6)
Deferred taxes, net (1.9) (6.8) 1.7
Accrued payroll and related expenses 5.9 (3.0) (0.5)
Accrued expenses and other current and non-current liabilities (22.3) (2.3) 29.3
Net cash provided by operating activities 138.8 66.0 94.3
INVESTING ACTIVITIES:      
Purchases of available-for-sale investments 0.0 (382.9) (679.4)
Maturities of available-for-sale investments 47.3 438.3 470.4
Sales of available-for-sale investments 119.9 204.7 355.2
Acquisition of businesses, net of cash acquired (47.0) (509.9) 0.0
Capital expenditures (45.0) (42.5) (38.6)
Proceeds from the sale of assets 5.4 5.8 5.9
Net cash provided by (used in) investing activities 80.6 (286.5) 113.5
FINANCING ACTIVITIES:      
Proceeds from issuance of senior convertible debt 0.0 225.0 460.0
Payment of debt issuance costs (0.5) (1.7) (8.9)
Repurchase and retirement of common stock (11.2) (40.8) (92.0)
Payment of financing obligations (1.7) (1.3) (0.8)
Redemption of convertible debt (276.9) (353.3) (45.4)
Proceeds from exercise of employee stock options and employee stock purchase plan 5.4 4.9 12.4
Withholding tax payment on vesting of restricted stock awards (15.5) (13.3) (14.3)
Net cash (used in) provided by financing activities (300.4) (180.5) 311.0
Effect of exchange rates on cash, cash equivalents and restricted cash (12.9) 2.9 2.5
Net (decrease) increase in cash, cash equivalents and restricted cash (93.9) (398.1) 521.3
Cash, cash equivalents and restricted cash at beginning of period [1] 624.3 [2] 1,022.4 [2] 501.1
Cash, cash equivalents and restricted cash at end of period [2] 530.4 624.3 [1] 1,022.4 [1]
Supplemental disclosure of cash flow information      
Cash paid for interest 11.8 11.2 6.7
Cash paid for income taxes $ 29.8 $ 24.4 $ 23.1
[1]
(1) These amounts include both current and non-current balances of restricted cash totaling $12.9 million, $18.0 million and $18.2 million as of June 30, 2018, July 1, 2017 and July 2, 2016, respectively.
[2]
(2) These amounts include both current and non-current balances of restricted cash totaling $8.9 million, $12.9 million and $18.0 million as of June 29, 2019, June 30, 2018 and July 1, 2017, respectively.