Consolidated Statements of Cash Flows - USD ($)
$ in Millions |
3 Months Ended |
Mar. 30, 2018 |
Mar. 31, 2017 |
| Cash flows from operating activities: |
|
|
| Net income |
$ 140.5
|
$ 78.7
|
| Adjustments to reconcile net income to net cash provided by operating activities and other adjustments: |
|
|
| Depreciation and amortization |
119.9
|
114.3
|
| Loss on sale or disposal of fixed assets |
1.3
|
2.9
|
| Loss on debt refinancing and prepayment |
0.0
|
26.2
|
| Amortization of debt discount and issuance costs |
3.3
|
4.5
|
| Payments for term debt modification |
0.0
|
(2.4)
|
| Write-down of excess inventories |
9.4
|
14.2
|
| Non-cash share-based compensation expense |
18.4
|
15.1
|
| Non-cash interest on convertible notes |
8.7
|
4.7
|
| Non-cash intangible asset impairment charges |
0.0
|
4.4
|
| Change in deferred taxes |
7.5
|
36.2
|
| Other |
(1.2)
|
1.5
|
| Changes in assets and liabilities: |
|
|
| Receivables |
(24.4)
|
(45.2)
|
| Inventories |
(73.3)
|
4.9
|
| Other assets |
(1.4)
|
(17.7)
|
| Accounts payable |
24.4
|
9.2
|
| Accrued expenses |
(9.5)
|
63.1
|
| Deferred income on sales to distributors |
0.0
|
(107.3)
|
| Other long-term liabilities |
2.9
|
1.2
|
| Net cash provided by operating activities |
226.5
|
208.5
|
| Cash flows from investing activities: |
|
|
| Purchases of property, plant and equipment |
(99.5)
|
(52.7)
|
| Proceeds from sales of property, plant and equipment |
5.6
|
0.2
|
| Deposits made for purchases of property, plant and equipment |
(11.6)
|
(0.2)
|
| Purchase of businesses, net of cash acquired |
0.0
|
(0.8)
|
| Purchases of held-to-maturity securities |
0.0
|
(1.6)
|
| Net cash used in investing activities |
(105.5)
|
(55.1)
|
| Cash flows from financing activities: |
|
|
| Proceeds from issuance of common stock under the ESPP |
0.0
|
5.9
|
| Proceeds from exercise of stock options |
3.6
|
7.5
|
| Payments of tax withholding for restricted shares |
(18.8)
|
(13.0)
|
| Repurchase of common stock |
0.0
|
(25.0)
|
| Proceeds from debt issuance |
5.3
|
689.0
|
| Repayment of long-term debt |
(135.9)
|
(1,054.4)
|
| Purchase of convertible note hedges |
0.0
|
(144.7)
|
| Proceeds from issuance of warrants |
0.0
|
85.2
|
| Payment of capital lease obligations |
(1.1)
|
(5.4)
|
| Net cash used in financing activities |
(146.9)
|
(454.9)
|
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
1.6
|
2.3
|
| Net decrease in cash, cash equivalents and restricted cash |
(24.3)
|
(299.2)
|
| Cash, cash equivalents and restricted cash, beginning of period |
966.6
|
1,045.8
|
| Cash, cash equivalents and restricted cash, end of period |
$ 942.3
|
$ 746.6
|