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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jul. 02, 2022
Jul. 03, 2021
Operating Activities    
Net income $ 45,042 $ 33,441
Adjustments to reconcile net income to cash provided by operating activities of continuing operations:    
Income from discontinued operations, net of income taxes   (77,088)
Depreciation of property and equipment 10,561 8,184
Amortization of other intangible assets 19,194 22,902
Amortization of debt discount and debt issuance costs 994 11,822
Loss on extinguishment of convertible debt 3 3,370
Stock-based compensation expense 27,264 22,620
Equity-method earnings (1,166) (1,898)
Deferred income taxes (9,344) (5,644)
Changes in operating assets and liabilities:    
Accounts receivable 26,207 (4,377)
Inventories (24,714) (4,447)
Prepaid expenses and other assets (25,286) (3,591)
Accounts payable 25,606 14,711
Other current liabilities and income taxes (3,418) (10,626)
Deferred revenue and returns liability (3,153) (175)
Other non-current liabilities (4,416) (3,464)
Net cash provided by operating activities of continuing operations 83,374 5,740
Investing Activities    
Purchases of marketable securities (554,267) (80,426)
Sales of marketable securities 27,404 186,626
Maturities of marketable securities 511,296 100,023
Purchases of property and equipment (12,322) (10,779)
Purchases of other assets   (578)
Net cash provided by (used in) investing activities of continuing operations (27,889) 194,866
Financing Activities    
Payments on debt (21) (140,572)
Repurchases of common stock (579,040) (18,982)
Payment of taxes withheld for vested stock awards (13,958) (19,732)
Proceeds from the issuance of common stock 6,365 8,388
Net cash used in financing activities of continuing operations (586,654) (170,898)
Discontinued Operations    
Operating activities (38,604) 72,674
Investing activities 0 (2,018)
Net cash provided by (used in) discontinued operations (38,604) 70,656
Increase (decrease) in cash and cash equivalents (569,773) 100,364
Cash and cash equivalents at beginning of period 1,074,623 202,720
Cash and cash equivalents at end of period $ 504,850 $ 303,084