XML 20 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 12 Months Ended
Jul. 02, 2016
Jun. 27, 2015
Jun. 28, 2014
OPERATING ACTIVITIES:      
Net loss $ (99.2) $ (88.1) $ (17.8)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation expense 38.1 80.8 72.5
Amortization of acquired technologies and other intangibles 32.5 59.2 59.0
Stock-based compensation 44.0 66.9 64.1
Amortization of debt issuance costs and accretion of debt discount 28.8 27.3 22.9
Amortization of discount and premium on investments, net 0.8 3.2 4.2
Impairment of goodwill 91.4 0.0 0.0
Gain on sale of investments (71.6) (0.1) (0.3)
Other 3.6 8.2 4.4
Changes in operating assets and liabilities, net of impact of Lumentum distribution and acquisitions of businesses:      
Accounts receivable 23.4 (12.5) (9.6)
Inventories (2.6) (6.0) (3.2)
Other current and non-currents assets 5.1 (9.0) 5.4
Accounts payable (2.1) (10.1) 25.9
Income taxes payable (1.5) (21.3) 1.3
Deferred revenue, current and non-current (2.4) 3.2 2.7
Deferred taxes, net 0.6 19.8 (33.1)
Accrued payroll and related expenses (25.2) (32.4) (19.6)
Accrued expenses and other current and non-current liabilities (10.8) (6.8) (2.2)
Net cash provided by operating activities 52.9 82.3 176.6
INVESTING ACTIVITIES:      
Purchases of available-for-sale investments (422.4) (562.7) (1,072.9)
Maturities of available-for-sale investments 395.7 574.8 480.9
Sales of available-for-sale investments 287.3 71.4 249.1
Changes in restricted cash 14.0 6.0 (2.3)
Acquisition of businesses, net of cash acquired (0.9) 0.0 (216.0)
Capital expenditures (35.5) (101.5) (99.8)
Proceeds from the sale of assets 6.0 6.2 9.2
Net cash provided by (used in) investing activities 244.2 (5.8) (651.8)
FINANCING ACTIVITIES:      
Proceeds from sale of Lumentum Holdings Inc. Series A Preferred Stock 35.8 0.0 0.0
Cash contribution to Lumentum Holdings Inc. (137.6) 0.0
Proceeds from issuance of senior convertible debt 0.0 0.0 650.0
Payment of debt issuance costs 0.0 0.0 (13.5)
Repurchase and retirement of common stock (44.5) (4.8) (155.2)
Payment of financing obligations (5.9) (23.3) (14.2)
Proceeds from exercise of employee stock options and employee stock purchase plan 4.5 20.8 22.5
Net cash (used in) provided by financing activities (147.7) (7.3) 489.6
Effect of exchange rates on cash and cash equivalents (14.4) (18.5) 1.8
Net increase in cash and cash equivalents 135.0 50.7 16.2
Cash and cash equivalents at beginning of period 347.9 [1] 297.2 281.0
Cash and cash equivalents at end of period 482.9 347.9 [1] 297.2
Supplemental disclosure of cash flow information      
Cash paid for interest 6.6 6.5 4.6
Cash paid for taxes $ 31.8 $ 23.8 $ 18.7
[1] Cash and cash equivalents at June 27, 2015 included $13.4 million in current assets of the discontinued operations of Lumentum Holdings Inc.