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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Jun. 27, 2020
Jun. 29, 2019
Jun. 30, 2018
OPERATING ACTIVITIES:      
Net income (loss) $ 28.7 $ 5.4 $ (48.6)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation expense 40.0 39.7 35.7
Amortization of acquired technologies and other intangibles 67.8 72.5 47.7
Stock-based compensation 44.6 38.2 30.5
Amortization of debt issuance costs and accretion of debt discount 22.2 22.7 36.4
Amortization of discount and premium on investments, net 0.0 0.0 0.3
Net change in fair value of contingent liabilities (31.5) (5.9) 0.0
Loss (Gain) on sales of investments 0.0 0.5 0.0
Loss on disposal of long-lived assets 0.1 1.4 2.1
Loss on extinguishment of debt 0.0 0.0 5.0
Other 5.7 5.1 2.2
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable (5.1) (17.8) (53.2)
Inventories 3.7 (15.4) (5.5)
Other current and non-currents assets 10.6 0.1 3.9
Accounts payable (9.2) 8.7 13.2
Income taxes payable 0.0 5.0 1.1
Deferred revenue, current and non-current 5.9 (3.1) 7.3
Deferred taxes, net 11.9 (1.9) (6.8)
Accrued payroll and related expenses (7.0) 5.9 (3.0)
Accrued expenses and other current and non-current liabilities (52.8) (22.3) (2.3)
Net cash provided by operating activities 135.6 138.8 66.0
INVESTING ACTIVITIES:      
Purchases of available-for-sale investments 0.0 0.0 (382.9)
Maturities of available-for-sale investments 0.0 47.3 438.3
Sales of available-for-sale investments 0.0 119.9 204.7
Acquisition of businesses, net of cash acquired (2.5) (47.0) (509.9)
Capital expenditures (31.9) (45.0) (42.5)
Proceeds from the sale of assets 4.6 5.4 5.8
Net cash (used in) provided by investing activities (29.8) 80.6 (286.5)
FINANCING ACTIVITIES:      
Proceeds from issuance of senior convertible debt 0.0 0.0 225.0
Payment of debt issuance costs (1.6) (0.5) (1.7)
Repurchase and retirement of common stock (44.4) (11.2) (40.8)
Payment of financing obligations (2.7) (1.7) (1.3)
Redemption of convertible debt 0.0 (276.9) (353.3)
Proceeds from exercise of employee stock options and employee stock purchase plan 5.5 5.4 4.9
Withholding tax payment on vesting of restricted stock awards (21.0) (15.5) (13.3)
Payment of acquisition related holdback (6.8) 0.0 0.0
Payment of acquisition related contingent consideration (0.7) 0.0 0.0
Net cash used in financing activities (71.7) (300.4) (180.5)
Effect of exchange rates on cash, cash equivalents and restricted cash (17.1) (12.9) 2.9
Net increase (decrease) in cash, cash equivalents and restricted cash 17.0 (93.9) (398.1)
Cash, cash equivalents and restricted cash at beginning of period 530.4 624.3 [1] 1,022.4 [2]
Cash, cash equivalents and restricted cash at end of period 547.4 530.4 624.3 [1]
Supplemental disclosure of cash flow information      
Cash paid for interest 11.3 11.8 11.2
Cash paid for income taxes $ 50.6 $ 29.8 $ 24.4
[1]
(2) These amounts include both current and non-current balances of restricted cash totaling $8.4 million, $8.9 million and $12.9 million as of June 27, 2020, June 29, 2019 and June 30, 2018, respectively.
[2]
(1) 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.