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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended 12 Months Ended
Jan. 01, 2022
Jan. 02, 2021
Jan. 01, 2022
Jan. 02, 2021
Jul. 03, 2021
OPERATING ACTIVITIES:          
Net income (loss) $ 34.6 $ 27.3 $ (20.2) $ 47.0  
Adjustments to reconcile net (loss) income to net cash provided by operating activities:          
Depreciation expense     17.8 17.6  
Amortization of acquired technologies and other intangibles 10.0 16.5 20.6 33.2  
Stock-based compensation     26.9 22.4  
Loss on convertible note settlement     92.3 0.0  
Amortization of debt issuance costs     1.6 1.0  
Other     1.5 (0.3)  
Changes in operating assets and liabilities, net of acquisitions:          
Accounts receivable     (6.0) (6.4)  
Inventories     (24.3) (3.3)  
Other current and non-currents assets     (9.4) 3.9  
Accounts payable     5.4 (2.4)  
Income taxes payable     (21.1) 10.4  
Deferred revenue, current and non-current     (6.9) 4.1  
Deferred taxes, net     (4.3) (2.1)  
Accrued payroll and related expenses     2.2 16.0  
Accrued expenses and other current and non-current liabilities     (0.5) (8.5)  
Net cash provided by operating activities     75.6 132.6  
INVESTING ACTIVITIES:          
Capital expenditures     (34.1) (18.5)  
Proceeds from the sale of assets     2.8 1.1  
Acquisitions, net of cash hold back     (1.2) (0.6)  
Net cash used in investing activities     (32.5) (18.0)  
FINANCING ACTIVITIES:          
Proceeds from issuance of 3.75% senior notes     400.0 0.0  
Payment of debt issuance costs     (9.6) (0.1)  
Repurchase and retirement of common stock     (125.6) (23.8)  
Withholding tax payment on vesting of restricted stock awards     (10.9) (11.8)  
Payment of financing obligations     0.0 (0.6)  
Proceeds from employee stock purchase plan     3.7 3.5  
Proceeds from revolving credit facility     150.0 0.0  
Repayment of revolving credit facility     (150.0) 0.0  
Payment of acquisition related contingent consideration     (1.2) 0.0  
Payment of debt     0.0 (2.8)  
Net cash used in financing activities     (2.9) (35.6)  
Effect of exchange rates on cash, cash equivalents and restricted cash     (4.9) 26.3  
Net increase in cash, cash equivalents and restricted cash     35.3 105.3  
Cash, cash equivalents and restricted cash at the beginning of the period [1]     708.4 547.4 $ 547.4
Cash, cash equivalents and restricted cash at the end of the period $ 743.7 $ 652.7 743.7 652.7 $ 708.4 [1]
Note holders          
FINANCING ACTIVITIES:          
Cash paid in convertible note settlement     (255.5) 0.0  
Third parties          
FINANCING ACTIVITIES:          
Cash paid in convertible note settlement     $ (3.8) $ 0.0  
[1] These amounts include both current and non-current balances of restricted cash totaling $11.6 million and $8.5 million as of January 1, 2022 and January 2, 2021, respectively.