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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Jul. 01, 2017
Jul. 02, 2016
Jun. 27, 2015
OPERATING ACTIVITIES:      
Net income (loss) $ (102.5) $ 9.3 $ (3.4)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation expense 54.2 47.4 43.0
Stock-based compensation 32.7 24.9 18.2
Unrealized loss on derivative liability 104.2 0.6 0.0
Amortization of acquired technologies and other intangibles 6.8 7.2 8.0
Disposal of property, plant and equipment 0.2 0.6 (1.2)
Other non-cash (income) expenses 0.0 0.0 (0.9)
Excess tax benefit associated with stock-based compensation (3.8) 0.0 0.0
Amortization of discount on 0.25% Convertible Senior Notes due 2024 5.1 0.0 0.0
Changes in operating assets and liabilities:      
Accounts receivable 4.2 (21.8) (17.8)
Inventories (41.7) (3.1) (6.2)
Prepayments and other current and non-currents assets (7.4) (12.7) (14.5)
Deferred taxes, net 26.8 (1.7) 1.9
Accounts payable (16.9) 28.9 1.0
Accrued payroll and related expenses 1.0 9.2 (1.0)
Income taxes payable 15.9 (1.7) (10.8)
Accrued expenses and other current and non-current liabilities 6.2 (0.5) (6.9)
Net cash provided by operating activities 85.0 86.6 9.4
INVESTING ACTIVITIES:      
Purchase of property, plant and equipment (138.1) (82.0) (53.7)
Acquisition of business, net of cash acquired (5.1) 0.0 0.0
Purchases of short-term investments (290.7) 0.0 0.0
Proceeds from maturities and sales of short-term investments 8.2 0.0 0.0
Proceeds from the sales of property and equipment 0.0 0.0 0.2
Net cash used in investing activities (425.7) (82.0) (53.5)
FINANCING ACTIVITIES:      
Net transfers from (to) Viavi 0.0 134.2 40.6
Proceeds from the issuance of 0.25% Convertible Senior Notes due 2024, net of issuance costs 442.3 0.0 0.0
Excess tax benefit associated with stock-based compensation 3.8 0.0 0.0
Payment of dividends - preferred stock (0.9) (0.5) 0.0
Payment of financing obligation related to acquisition 0.0 (2.3) 0.0
Proceeds from employee stock plans 8.1 3.1 0.0
Proceeds from the exercise of stock options 3.4 1.9 0.0
Net cash provided by financing activities 456.7 136.4 40.6
Effect of exchange rates on cash and cash equivalents (0.2) 1.6 (1.9)
Increase (decrease) in cash and cash equivalents 115.8 142.6 (5.4)
Cash and cash equivalents at beginning of period 157.1 14.5 19.9
Cash and cash equivalents at end of period 272.9 157.1 $ 14.5
Supplemental disclosure of cash flow information      
Income taxes paid 9.5 2.7  
Purchases of property, plant, and equipment $ 18.4 13.1  
Recognition of the redemption value of the convertible preferred stock   9.7  
Accretion of equity issuance costs   $ 2.0