XML 62 R8.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2024
Dec. 30, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income (loss) $ (304.9) $ 81.5 $ 143.5
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 103.0 98.3 136.1
Stock-based compensation 41.5 7.0 47.7
Amortization of debt issuance costs 1.9 1.9 1.4
Loss on disposal of inventory, equipment and other assets 98.7 0.8 0.5
Provision for credit losses 1.1 1.1 1.3
Benefit from deferred income taxes (38.2) (35.6) (39.3)
Impairment charges, including intangible assets and goodwill - (Note 9 and Note 10) 304.0 10.0 0.0
Changes in operating assets and liabilities:      
(Increase) decrease in trade accounts receivable (65.0) 88.2 (144.1)
(Increase) decrease in related party receivable (7.9) 2.0 5.6
(Increase) decrease in inventories (7.5) (69.2) (155.9)
(Increase) decrease in other current assets 6.6 (8.6) (7.4)
(Increase) decrease in lease receivable, net 12.7 1.7 (12.8)
(Increase) decrease in deferred costs and other contract assets (4.0) (14.4) (13.4)
(Increase) decrease in other non-current assets (2.3) 3.0 (4.9)
Increase (decrease) in accounts payable 14.8 (19.6) 60.5
Increase (decrease) in accrued compensation 22.2 (26.8) (9.3)
Increase (decrease) in deferred revenue and other contract-related liabilities 10.3 7.1 28.1
Increase (decrease) in income taxes payable 2.2 (15.1) 3.8
Increase (decrease) in accrued liabilities 17.7 (22.8) (16.1)
Increase (decrease) in other non-current liabilities (10.5) 3.6 4.1
Net cash provided by (used in) operating activities 196.4 94.1 29.4
Cash flows from investing activities:      
Purchases of property and equipment, net (20.0) (44.0) (52.8)
Increase in intangible assets (31.1) (43.7) (3.5)
Business combinations, net of cash acquired 0.0 7.5 (999.7)
Other strategic investing activities (0.1) (1.0) (1.7)
Net cash (used in) provided by investing activities (51.2) (81.2) (1,057.7)
Cash flows from financing activities:      
Borrowings under revolving line of credit 98.8 189.0 1,083.9
Repayments under revolving line of credit (237.8) (240.2) (135.4)
Proceeds from issuance of common stock 25.2 7.0 8.1
Repurchases of common stock 0.0 0.0 (401.5)
Payroll tax withholdings on behalf of employees for stock options (11.8) (12.9) (25.4)
Debt issuance costs 0.0 0.0 (9.3)
Net cash (used in) provided by financing activities (125.6) (57.1) 520.4
Effect of foreign currency exchange rates on cash (6.4) 2.8 (30.9)
Net increase in cash, cash equivalents and restricted cash 13.2 (41.4) (538.8)
Cash, cash equivalents and restricted cash at beginning of period 168.2 209.6 748.4
Cash, cash equivalents and restricted cash at end of period $ 181.4 $ 168.2 $ 209.6