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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Jun. 28, 2025
Jun. 29, 2024
Jul. 01, 2023
OPERATING ACTIVITIES:      
Net income (loss) $ 34.8 $ (25.8) $ 25.5
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation expense 38.4 38.6 36.2
Amortization of acquired technologies and other intangibles 24.3 20.1 33.3
Stock-based compensation 53.1 49.4 51.2
Amortization of debt issuance costs and accretion of debt discount 7.3 7.5 4.2
Net change in fair value of contingent liabilities (8.3) (9.5) (4.6)
Loss on convertible note debt modification 0.0 0.0 2.2
Deferred taxes, net (28.4) 0.3 4.8
Amortization of acquisition related inventory step-up 4.3 0.0 0.0
Restructuring 0.7 13.6 12.1
Gain on legal settlement 0.0 0.0 (6.7)
Other (6.2) 5.5 5.6
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable (34.1) 13.9 37.4
Inventories (7.5) 10.5 (10.7)
Other current and non-currents assets (4.0) (2.1) 10.3
Accounts payable 14.6 3.2 (9.4)
Income taxes payable (6.3) 1.6 (2.0)
Deferred revenue, current and non-current 7.9 (8.8) (2.1)
Accrued payroll and related expenses 12.7 (4.6) (25.8)
Accrued expenses and other current and non-current liabilities (13.5) 3.0 (47.4)
Net cash provided by operating activities 89.8 116.4 114.1
INVESTING ACTIVITIES:      
Purchases of short-term investments (148.8) (225.1) (13.1)
Maturities of short-term investments 167.7 219.6 0.0
Acquisitions, net of cash acquired and other (120.9) 0.0 (67.3)
Purchase price adjustment related to business acquisition (0.7) 0.0 (0.7)
Capital expenditures (27.8) (19.5) (51.1)
Proceeds from the sale of assets 5.1 3.4 5.1
Other investing activities (3.0) 0.0 0.0
Net cash used in investing activities (128.4) (21.6) (127.1)
FINANCING ACTIVITIES:      
Proceeds from issuance of debt 0.0 0.0 118.0
Payment of debt issuance costs 0.0 0.0 (4.2)
Repurchase and retirement of common stock (16.4) (20.0) (83.9)
Payment of financing obligations (0.2) (0.2) (0.1)
Retirement of convertible notes upon maturity 0.0 (96.4) (68.1)
Proceeds from exercise of employee stock options and employee stock purchase plan 6.0 6.3 7.9
Withholding tax payment on vesting of restricted stock awards (13.2) (11.1) (11.8)
Payment of acquisition related contingent consideration and obligations 0.0 (4.3) (7.8)
Other financing activities 0.2 0.0 0.0
Net cash used in financing activities (23.6) (125.7) (50.0)
Effect of exchange rates on cash, cash equivalents and restricted cash 12.5 (2.9) 5.8
Net decrease in cash, cash equivalents and restricted cash (49.7) (33.8) (57.2)
Cash, cash equivalents and restricted cash at beginning of period [1] 481.8 [2] 515.6 [2] 572.8
Cash, cash equivalents and restricted cash at end of period [2] 432.1 481.8 [1] 515.6 [1]
Supplemental disclosure of cash flow information      
Cash paid for interest 22.9 23.9 22.0
Cash paid for income taxes, net of refunds $ 29.5 $ 30.9 $ 47.5
[1] These amounts include both current and non-current balances of restricted cash totaling $10.5 million, $9.1 million and $12.9 million as of June 29, 2024, July 1, 2023, and July 2, 2022, respectively.
[2] These amounts include both current and non-current balances of restricted cash totaling $8.5 million, $10.5 million and $9.1 million as of June 28, 2025, June 29, 2024 and July 1, 2023, respectively.