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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Mar. 27, 2022
Sep. 26, 2021
Mar. 28, 2021
Sep. 27, 2020
Mar. 27, 2022
Dec. 26, 2021
Mar. 28, 2021
Operating activities:              
Net loss $ (66.5) $ (70.1) $ (108.1) $ (184.1) $ (233.3)   $ (374.9)
Net loss from discontinued operations 0.0   (41.6)   0.0   (178.8)
Net loss from continuing operations (66.5)   (66.5)   (233.3)   (196.1)
Adjustments to reconcile net loss from continuing operations to cash used in operating activities:              
Depreciation and amortization         97.9   88.6
Amortization of debt issuance costs and discount, net of non-cash capitalized interest         12.9   26.1
Stock-based compensation         45.2   40.3
Loss on extinguishment of debt 0.0   0.0   24.8   0.0
Loss on disposal or impairment of long-lived assets         1.0   3.7
Amortization of premium/discount on investments         4.5   4.9
Realized gain on sale of investments 0.0   (0.1)   (0.3)   (0.3)
Gain on equity investment         0.0   (7.9)
Foreign exchange gain on equity investment         0.0   (3.4)
Deferred income taxes         0.7   0.5
Changes in operating assets and liabilities:              
Accounts receivable, net         (26.5)   (11.7)
Inventories         (61.6)   (25.4)
Prepaid expenses and other assets         (3.3)   (28.2)
Accounts payable, trade         11.3   27.2
Accrued salaries and wages and other liabilities         6.5   12.5
Accrued contract liabilities         (3.2)   10.3
Net cash used in operating activities of continuing operations         (123.4)   (58.9)
Net cash used in operating activities of discontinued operations         0.0   (16.6)
Cash used in operating activities         (123.4)   (75.5)
Investing activities:              
Purchases of property and equipment         (535.5)   (394.0)
Purchases of patent and licensing rights         (4.2)   (3.6)
Proceeds from sale of property and equipment, including insurance proceeds         2.7   0.2
Purchases of short-term investments         (408.2)   (342.1)
Proceeds from maturities of short-term investments         135.5   335.6
Proceeds from sale of short-term investments         223.2   28.1
Reimbursement of property and equipment purchases from long-term incentive agreement         83.5 $ 94.2 0.0
Proceeds from sale of business, net, including receipt of note receivable         125.0   36.6
Net cash used in investing activities of continuing operations         (378.0)   (339.2)
Net cash used in investing activities of discontinued operations         0.0   (0.3)
Cash used in investing activities         (378.0)   (339.5)
Financing activities:              
Proceeds from long-term debt borrowings         20.0   30.0
Payments on long-term debt borrowings, including finance lease obligations         (20.4)   (30.3)
Proceeds from issuance of common stock         11.7   530.1
Tax withholding on vested equity awards         (26.1)   (31.7)
Tax withholding on vested equity awards         750.0   0.0
Payments of debt issuance costs         (17.7)   0.0
Cash paid for capped call transactions         (108.2)   0.0
Commitment fee on long-term incentive agreement         (1.0)   (0.5)
Cash provided by financing activities         608.3   497.6
Effects of foreign exchange changes on cash and cash equivalents         0.0   0.2
Net change in cash and cash equivalents         106.9   82.8
Cash and cash equivalents, beginning of period   $ 379.0   $ 448.8 379.0 $ 531.6 448.8
Cash and cash equivalents, end of period $ 485.9   $ 531.6   $ 485.9   $ 531.6