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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Apr. 01, 2023
Mar. 26, 2022
OPERATING ACTIVITIES    
Net income $ 405.9 $ 954.9
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 44.3 44.9
Amortization of acquired intangible assets 122.4 169.2
Stock-based compensation expense 43.7 36.5
Deferred income taxes (61.6) (41.5)
Change in contingent consideration (12.4) (4.1)
Other adjustments and non-cash items 29.6 23.5
Changes in operating assets and liabilities, excluding the effect of acquisitions:    
Accounts receivable (81.8) 101.6
Inventories (56.1) (26.4)
Prepaid income taxes 8.3 (6.4)
Prepaid expenses and other assets 10.5 355.3
Accounts payable (13.2) 9.1
Accrued expenses and other liabilities (22.4) 2.9
Deferred revenue 42.5 6.9
Net cash provided by operating activities 459.7 1,626.4
INVESTING ACTIVITIES    
Acquisition of business, net of cash acquired 0.0 (158.4)
Capital expenditures (34.5) (36.1)
Proceeds received from government grants for capacity expansion 20.5 58.7
Increase in equipment under customer usage agreements (26.7) (33.8)
Payments to Acquire Equity Method Investments 10.0 0.0
Payments for (Proceeds from) Other Investing Activities (6.7) 5.2
Net cash used in investing activities (57.4) (164.4)
FINANCING ACTIVITIES    
Proceeds from long-term debt, net of issuance costs 0.0 1,491.2
Repayment of long-term debt (7.5) (1,387.5)
Payment of deferred acquisition consideration (7.6) (12.2)
Payment of deferred acquisition consideration (0.8) 0.0
Repayments of acquired long term debt 0.0 (63.6)
Repurchase of common stock (150.0) (367.0)
Proceeds from issuance of common stock pursuant to employee stock plans 28.4 17.3
Payment of minimum tax withholdings on net share settlements of equity awards (23.2) (22.5)
Payments under finance lease obligations (2.3) (1.7)
Net cash used in financing activities (163.0) (346.0)
Effect of exchange rate changes on cash and cash equivalents 3.4 4.5
Net increase in cash and cash equivalents 242.7 1,120.5
Cash and cash equivalents, beginning of period 2,339.5 1,170.3
Cash and cash equivalents, end of period $ 2,582.2 $ 2,290.8