XML 28 R7.htm IDEA: XBRL DOCUMENT v3.24.0.1
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 42 Months Ended
Dec. 31, 2023
Sep. 24, 2023
Dec. 25, 2022
Sep. 25, 2022
Dec. 31, 2023
Dec. 25, 2022
Dec. 31, 2023
Operating activities:              
Net loss $ (144.7) $ (395.7) $ (90.9) $ (26.2) $ (540.4) $ (117.1)  
Net loss from discontinued operations (18.5)   (18.8)   (290.6) (30.9)  
Net loss from continuing operations (126.2)   (72.1)   (249.8) (86.2)  
Adjustments to reconcile net loss to cash used in operating activities from continuing operations:              
Depreciation and amortization         88.7 68.0  
Amortization of debt issuance costs and discount, net of non-cash capitalized interest         14.7 2.9  
Stock-based compensation         42.1 38.9  
Gain on equity investment 5.4   0.0   5.4 0.0  
Loss on disposal or impairment of long-lived assets, including loss on disposal portion of factory start-up costs         0.4 2.0  
Amortization of (premium) discount on investments, net         (13.8) 2.2  
Deferred income taxes         0.1 0.3  
Changes in operating assets and liabilities:              
Accounts receivable, net         22.2 (19.1)  
Inventories         (82.6) (41.5)  
Prepaid expenses and other assets         (74.4) (3.6)  
Accounts payable         (58.0) 1.6  
Accrued salaries and wages and other liabilities         5.2 (32.7)  
Accrued contract liabilities         15.0 (2.7)  
Net cash used in operating activities of continuing operations         (295.6) (69.9)  
Net cash used in operating activities of discontinued operations         (54.3) (9.8)  
Cash used in operating activities         (349.9) (79.7)  
Investing activities:              
Purchases of property and equipment         (1,052.2) (234.1)  
Purchases of patent and licensing rights         (3.2) (2.3)  
Proceeds from sale of property and equipment         0.4 1.7  
Purchases of short-term investments         (1,307.2) (814.1)  
Proceeds from maturities of short-term investments         734.7 115.5  
Proceeds from sale of short-term investments         25.8 43.1  
Reimbursement of property and equipment purchases from long-term incentive agreement         79.4 70.7 $ 384.0
Proceeds from sale of business         75.6 101.8  
Net cash used in investing activities of continuing operations         (1,446.7) (717.7)  
Net cash used in investing activities of discontinued operations         (3.1) (4.3)  
Cash used in investing activities         (1,449.8) (722.0)  
Financing activities:              
Proceeds from long-term debt borrowings         1,000.0 0.0  
Proceeds from convertible notes         0.0 1,750.0  
Payments of debt issuance costs         (46.0) (31.4)  
Cash paid for capped call transactions         0.0 (273.9)  
Proceeds from issuance of common stock         10.9 11.2  
Tax withholding on vested equity awards         (16.7) (17.3)  
Payments on long-term debt borrowings, including finance lease obligations         (0.2) (0.3)  
Commitment fees on long-term incentive agreement         (1.0) (1.0)  
Cash provided by financing activities         947.0 1,437.3  
Effects of foreign exchange changes on cash and cash equivalents         0.1 0.0  
Net change in cash and cash equivalents         (852.6) 635.6  
Cash and cash equivalents, beginning of period   $ 1,757.0   $ 449.5 1,757.0 449.5  
Cash and cash equivalents, end of period $ 904.4   $ 1,085.1   $ 904.4 $ 1,085.1 $ 904.4