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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jul. 02, 2022
Jul. 03, 2021
Cash flows from operating activities:    
Net income $ 64.7 $ 103.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 79.9 17.3
Stock-based compensation 28.2 20.9
Gain on disposal of equipment, intangibles and other assets 0.3 0.2
Provision for credit losses 0.9 0.5
Changes in operating assets and liabilities:    
Increase in accounts receivable (44.7) (38.7)
(Increase) decrease in inventories (67.8) 8.6
(Increase) decrease in other current assets (8.2) 6.5
Increase in lease receivable, net (1.7) (7.5)
Increase in deferred costs and other contract assets (21.6) (1.7)
Increase in other non-current assets (0.3) (0.2)
Increase in accounts payable 40.4 2.0
Decrease in accrued compensation (22.6) (16.3)
Decrease in accrued liabilities (7.2) (6.0)
Decrease in income tax payable (18.5) (2.0)
Increase (decrease) in deferred revenue and other contract-related liabilities 4.8 (1.2)
Decrease in other non-current liabilities (1.0) (0.8)
Net cash provided by operating activities 25.6 85.2
Cash flows from investing activities:    
Purchases of property and equipment, net (30.0) (14.2)
Increase in intangible assets (10.5) (3.0)
Business combinations, net of cash acquired (985.5) 0.0
Other strategic investing activities (1.2) 0.0
Net cash used in investing activities (1,027.2) (17.2)
Cash flows from financing activities:    
Borrowings under line of credit 927.0 0.0
Repayments on line of credit 0.1 0.0
Debt issuance costs (8.9) 0.0
Proceeds from issuance of common stock 4.6 9.1
Payroll tax withholdings on behalf of employees for vested equity awards (25.4) (16.7)
Repurchases of common stock (401.4) (128.9)
Net cash provided by (used in) financing activities 496.0 (136.5)
Effect of foreign currency exchange rates on cash (22.2) 0.8
Net decrease in cash, cash equivalents and restricted cash (527.8) (67.7)
Cash, cash equivalents and restricted cash at beginning of period 748.4 645.0
Cash, cash equivalents and restricted cash at end of period $ 220.6 $ 577.3