v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 9 Months Ended
Mar. 28, 2026
Mar. 29, 2025
OPERATING ACTIVITIES:    
Net income (loss) $ 226.6 $ (187.4)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation expense 91.2 77.9
Stock-based compensation 129.4 137.2
Bad debt expense (recovery) (0.1) 3.4
Gain on sale of facility 0.0 34.9
Amortization and write-off of acquired intangibles 102.2 117.7
Write-down and loss on sales and dispositions of property, plant and equipment 13.4 5.2
Amortization of debt issuance costs 3.0 2.3
Inducement expense on partial repurchase of 2026 Notes 5.9 0.0
Write-off of right-of-use assets 0.0 6.2
Other non-cash items (9.1) (5.6)
Changes in operating assets and liabilities:    
Accounts receivable (191.5) (64.4)
Inventories (165.2) (25.7)
Operating lease right-of-use assets, net 0.9 2.4
Prepayments and other current and non-current assets (22.5) (21.7)
Income taxes, net 17.9 16.8
Accounts payable 109.4 44.9
Accrued payroll and related expenses 51.8 6.9
Operating lease liabilities (3.1) (3.6)
Accrued expenses and other current and non-current liabilities 28.2 (15.3)
Net cash provided by operating activities 388.4 62.3
INVESTING ACTIVITIES:    
Payments for acquisition of property, plant and equipment (284.5) (177.1)
Payment for acquisition of business (38.0) 0.0
Proceeds from sale of facility, net of cash and selling costs 0.0 47.8
Purchases of short-term investments (379.2) (280.2)
Proceeds from maturities and sales of short-term investments 181.0 384.5
Proceeds from the sales of property, plant and equipment 39.6 0.3
Net cash used in investing activities (481.1) (24.7)
FINANCING ACTIVITIES:    
Proceeds from issuance of Series A Convertible Preferred Stock 1,999.7 0.0
Proceeds from the issuance of 2032 Notes, net of issuance costs 1,254.7 0.0
Proceeds from term loans 47.9 76.5
Proceeds from employee stock plans 9.2 8.3
Payment for partial repurchase of 2026 Notes (843.1) 0.0
Payment for 2032 Notes capped call options (102.0) 0.0
Payment of withholding taxes related to net share settlement of restricted stock units (164.2) (36.3)
Principal payments on term loans (9.2) (5.4)
Payment for financing costs related to revolving credit facility (2.4) 0.0
Payment for Conversions of Convertible Notes (0.8) 0.0
Payment of acquisition related holdback 0.0 (1.0)
Net cash provided by financing activities 2,189.8 42.1
Increase in cash and cash equivalents 2,097.1 79.7
Cash and cash equivalents at beginning of period 520.7 436.7
Cash and cash equivalents at end of period 2,617.8 516.4
Supplemental disclosure of cash flow information:    
Cash paid for taxes, net 41.1 10.5
Cash paid for interest 12.8 9.7
Supplemental disclosure of non-cash investing and financing activities:    
Right-of-use assets obtained in exchange for new operating lease liabilities 6.8 6.4
Net transfer of assets from property, plant, and equipment to assets held-for-sale 3.3 0.0
Holdback receivable from sale of property, plant and equipment $ 3.0 $ 0.0