CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
6 Months Ended |
Apr. 29, 2023 |
Apr. 30, 2022 |
| Cash flows provided by (used in) operating activities: |
|
|
| Net income |
$ 133,895
|
$ 84,745
|
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: |
|
|
| Depreciation of equipment, building, furniture and fixtures, and amortization of leasehold improvements |
45,903
|
46,030
|
| Share-based compensation costs |
62,372
|
50,970
|
| Amortization of intangible assets |
23,600
|
24,463
|
| Deferred taxes |
(2,134)
|
(13,474)
|
| Provision for inventory excess and obsolescence |
12,691
|
8,487
|
| Provision for warranty |
13,577
|
7,228
|
| Gain on cost method equity investment |
(26,455)
|
(4,120)
|
| Other |
11,331
|
(1,713)
|
| Changes in assets and liabilities: |
|
|
| Accounts receivable |
(116,914)
|
104,455
|
| Inventories |
(162,143)
|
(171,056)
|
| Prepaid expenses and other |
(41,511)
|
(36,673)
|
| Operating lease right-of-use assets |
7,644
|
8,222
|
| Accounts payable, accruals and other obligations |
(55,754)
|
(88,960)
|
| Deferred revenue |
68,818
|
43,753
|
| Short- and long-term operating lease liabilities |
(10,748)
|
(10,216)
|
| Net cash provided by (used in) operating activities |
(35,828)
|
52,141
|
| Cash flows used in investing activities: |
|
|
| Payments for equipment, furniture, fixtures and intellectual property |
(58,034)
|
(45,249)
|
| Purchases of investments |
(106,245)
|
(461,553)
|
| Proceeds from sales and maturities of investments |
123,251
|
90,005
|
| Settlement of foreign currency forward contracts, net |
(6,194)
|
3,708
|
| Purchase of cost method equity investments |
0
|
8,000
|
| Acquisition of business, net of cash acquired |
(230,048)
|
(62,043)
|
| Net cash used in investing activities |
(277,270)
|
(483,132)
|
| Cash flows provided by financing activities: |
|
|
| Proceeds from issuance of senior notes |
0
|
400,000
|
| Proceeds from issuance of term loan, net |
497,500
|
0
|
| Payment of long-term debt |
(3,465)
|
(3,465)
|
| Payment of debt issuance costs |
(5,230)
|
(5,145)
|
| Payment of finance lease obligations |
(1,864)
|
(1,635)
|
| Shares repurchased for tax withholdings on vesting of stock unit awards |
(22,022)
|
(35,004)
|
| Repurchases of common stock - repurchase program |
0
|
(332,794)
|
| Proceeds from issuance of common stock |
14,656
|
15,185
|
| Net cash provided by financing activities |
479,575
|
37,142
|
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
6,867
|
(8,807)
|
| Net increase (decrease) in cash, cash equivalents and restricted cash |
173,344
|
(402,656)
|
| Cash, cash equivalents and restricted cash at beginning of period |
994,378
|
1,422,604
|
| Cash, cash equivalents and restricted cash at end of period |
1,167,722
|
1,019,948
|
| Supplemental disclosure of cash flow information |
|
|
| Cash paid during the period for interest |
37,514
|
16,809
|
| Cash paid during the period for income taxes, net |
24,218
|
17,905
|
| Operating lease payments |
11,689
|
10,917
|
| Non-cash investing and financing activities |
|
|
| Purchase of equipment in accounts payable |
4,618
|
8,093
|
| Repurchase of common stock in accrued liabilities from repurchase program |
0
|
5,000
|
| Operating right-of-use assets subject to lease liability |
6,177
|
3,589
|
| Gain on cost method equity investment |
$ 26,455
|
$ 4,120
|