XML 20 R7.htm IDEA: XBRL DOCUMENT v3.24.3
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended 51 Months Ended
Sep. 29, 2024
Sep. 24, 2023
Sep. 29, 2024
Operating activities:      
Net loss $ (282.2) $ (395.7)  
Net loss from discontinued operations 0.0 (272.1)  
Net loss from continuing operations (282.2) (123.6)  
Adjustments to reconcile net loss to cash used in operating activities from continuing operations:      
Depreciation and amortization 71.1 40.1  
Amortization of debt issuance costs and discount, net of non-cash capitalized interest 6.7 7.2  
Stock-based compensation 23.7 19.7  
Loss on disposal or impairment of long-lived assets 0.6 0.0  
Amortization of (premium) discount on investments, net (3.8) (5.3)  
Realized loss on sale of investments 0.1 0.0  
Deferred income taxes 0.0 0.3  
Changes in operating assets and liabilities:      
Accounts receivable, net 2.0 0.6  
Inventories (25.6) (50.0)  
Prepaid expenses and other assets (10.5) (34.7)  
Accounts payable 20.2 (18.1)  
Accrued salaries and wages and other liabilities 65.1 45.3  
Contract liabilities and distributor-related reserves 0.6 5.8  
Net cash used in operating activities of continuing operations (132.0) (112.7)  
Net cash used in operating activities of discontinued operations 0.0 (34.7)  
Cash used in operating activities (132.0) (147.4)  
Investing activities:      
Purchases of property and equipment (437.0) (442.0)  
Purchases of patent and licensing rights (1.2) (1.3)  
Purchases of short-term investments (56.1) (775.3)  
Proceeds from maturities of short-term investments 256.2 370.0  
Proceeds from sale of short-term investments 3.1 24.8  
Reimbursement of property and equipment purchases from long-term incentive agreement 42.0 39.6 $ 467.2
Net cash used in investing activities of continuing operations (193.0) (784.2)  
Net cash used in investing activities of discontinued operations 0.0 (1.7)  
Cash used in investing activities (193.0) (785.9)  
Financing activities:      
Proceeds from long-term debt borrowings 0.0 1,000.0  
Payments of debt issuance costs 0.0 (46.0)  
Proceeds from issuance of common stock 0.0 0.5  
Tax withholding on vested equity awards (3.6) (15.0)  
Payments on long-term debt borrowings, including finance lease obligations (0.1) (0.1)  
Incentive-related escrow refunds 10.0 0.0  
Commitment fees on long-term incentive agreement (1.5) (1.0)  
Cash provided by financing activities 4.8 938.4  
Effects of foreign exchange changes on cash and cash equivalents 0.4 (0.1)  
Net change in cash and cash equivalents (319.8) 5.0  
Cash and cash equivalents, beginning of period 1,045.9 1,757.0  
Cash and cash equivalents, end of period $ 726.1 $ 1,762.0 $ 726.1