v3.22.4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Millions
 6 Months Ended
Dec. 24, 2022
Dec. 25, 2021
Cash flows from operating activities    
Net income $ 86.6 $ 109.7
Adjustments to reconcile net income to net cash provided by operating activities:    
Share-based compensation costs 61.9 47.6
Depreciation and amortization 12.6 11.6
Acquired intangibles amortization 65.2 54.4
Loss on redemption of convertible notes 0.0 8.1
Deferred taxes (11.0) (6.2)
Amortization of right-of-use assets 5.1 5.0
Amortization of debt discount and issuance costs 1.4 2.1
Amortization of cost of development services 5.0 5.0
Provision for inventory excess and obsolescence (1.1) (9.0)
Other 0.6 (0.1)
Equity investment loss 0.0 0.9
Foreign currency remeasurement loss 1.3 0.4
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable, net 69.3 (70.9)
Inventories (6.7) (19.7)
Prepaid expenses and other current assets (1.7) (12.5)
Other assets 10.2 (5.1)
Accounts payable (62.1) 29.8
Accrued compensation (54.2) (18.9)
Income taxes payable (6.6) (6.6)
Other accrued liabilities (47.3) 55.1
Net cash provided by operating activities 128.5 180.7
Cash flows from investing activities    
Acquisition of businesses, net of cash and cash equivalents acquired (15.5) (512.2)
Proceeds from maturities of investments 11.9 0.6
Receipt of liquidation payment on equity investment 0.8
Other 0.2
Purchase of intangible assets (0.9)
Purchases of property and equipment (15.3) (13.2)
Cash flows from financing activities    
Payment for redemption of convertible notes (505.6)
Proceeds from term loan 600.0
Payment of debt issuance costs (11.2)
Proceeds from issuance of shares 8.8 8.6
Payroll taxes for deferred stock and market stock units (49.1) (63.5)
Repurchases of common stock (74.5)
Repayment of debt (3.0)
Refundable deposit paid to vendor 0.0 (16.6)
Return of deposit received from vendor 2.8 0.0
Net cash used in financing activities (115.0) (11.7)
Effect of exchange rate changes on cash and cash equivalents 0.1 (1.1)
Net increase/(decrease) in cash and cash equivalents (5.2) (333.5)
Cash and cash equivalents at beginning of period 824.0 836.3
Cash and cash equivalents at end of period 818.8 502.8
Supplemental disclosures of cash flow information    
Cash paid for taxes, net of refunds 72.3 15.8
Cash paid for interest 21.5 8.3
Supplemental disclosures of non-cash transactions    
Purchases of property and equipment in current liabilities $ 4.9 $ 6.0