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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Sep. 30, 2023
Oct. 01, 2022
OPERATING ACTIVITIES:    
Net income $ 9.8 $ 32.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation expense 9.8 8.5
Amortization of acquired technologies and other intangibles 5.6 9.3
Stock-based compensation 11.2 13.0
Amortization of debt issuance costs 1.9 0.6
Net change in fair value of contingent liabilities (1.4) 0.5
Deferred taxes, net 1.2 2.1
Restructuring (0.8) 0.0
Gain on legal settlement 0.0 (6.7)
Other 0.2 0.3
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable 38.0 11.3
Inventories (0.3) (6.6)
Other current and non-currents assets 3.9 4.0
Accounts payable (7.6) 5.4
Income taxes payable (0.6) (10.4)
Deferred revenue, current and non-current (10.1) (6.6)
Accrued payroll and related expenses (9.1) (25.7)
Accrued expenses and other current and non-current liabilities (1.4) (5.0)
Net cash provided by operating activities 50.3 26.6
INVESTING ACTIVITIES:    
Purchases of short-term investments (52.3) 0.0
Maturities of short-term investments 45.8 0.0
Capital expenditures (6.7) (14.8)
Proceeds from the sale of assets 0.6 0.6
Acquisitions, net of cash hold back 0.0 (15.5)
Net cash used in investing activities (12.6) (29.7)
FINANCING ACTIVITIES:    
Repurchase and retirement of common stock (10.0) (18.7)
Withholding tax payment on vesting of restricted stock and performance based-awards (9.1) (11.1)
Proceeds from employee stock purchase plan 3.0 3.7
Payment of acquisition related obligations 0.0 (0.7)
Net cash used in financing activities (16.1) (26.8)
Effect of exchange rates on cash, cash equivalents and restricted cash (9.3) (17.9)
Net increase (decrease) in cash, cash equivalents and restricted cash 12.3 (47.8)
Cash, cash equivalents and restricted cash at the beginning of the period [1] 515.6 572.8
Cash, cash equivalents and restricted cash at the end of the period [2] $ 527.9 $ 525.0
[1] These amounts include both current and non-current balances of restricted cash totaling $9.1 million and $12.9 million as of July 1, 2023 and July 2, 2022, respectively.
[2] These amounts include both current and non-current balances of restricted cash totaling $7.3 million and $12.4 million as of September 30, 2023 and October 1, 2022, respectively.