v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jul. 04, 2025
Jun. 28, 2024
Cash flows from operating activities:    
Net income (loss) $ (313.5) $ 792.1
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 324.6 314.5
(Gain) loss on sale or disposal of fixed assets (5.8) 1.0
Amortization of debt discount and issuance costs 5.7 5.6
Share-based compensation 68.3 65.3
Non-cash asset impairment charges 472.1 15.7
Change in deferred tax balances (32.2) (76.5)
Other 4.3 5.3
Changes in assets and liabilities (exclusive of acquisitions):    
Receivables 185.9 35.9
Inventories 175.7 (113.4)
Other assets (104.2) (99.2)
Accounts payable 40.7 (40.0)
Accrued expenses and other current liabilities 5.7 (1.5)
Other long-term liabilities (40.7) (43.9)
Net cash provided by operating activities 786.6 860.9
Cash flows from investing activities:    
Payments for acquisition of property, plant and equipment (225.8) (375.0)
Proceeds from sale of property, plant and equipment 6.7 0.3
Purchase of short-term investments (550.0) (450.0)
Proceeds from the maturity of short-term investments 550.0 0.0
Purchase of a business, net of cash acquired (117.5) 0.0
Other 0.0 (1.5)
Net cash used in investing activities (336.6) (826.2)
Cash flows from financing activities:    
Proceeds for the issuance of common stock under the ESPP 10.6 13.1
Payment of tax withholding for RSUs (25.1) (45.2)
Repurchase of common stock (602.4) (250.0)
Payment of financing lease obligations (0.8) (1.4)
Net cash used in financing activities (617.7) (283.5)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 3.9 (3.1)
Net decrease in cash, cash equivalents and restricted cash (163.8) (251.9)
Cash, cash equivalents and restricted cash, beginning of period 2,693.4 2,485.0
Cash, cash equivalents and restricted cash, end of period $ 2,529.6 $ 2,233.1