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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 30, 2024
Mar. 25, 2023
Mar. 26, 2022
Cash flows from operating activities:      
Net income $ 274,572 $ 176,703 $ 326,355
Adjustments to net cash provided by operating activities:      
Depreciation and amortization 48,292 71,202 62,061
Stock-based compensation expense 89,271 81,641 66,392
Deferred income taxes (13,304) (34,513) (15,002)
Loss on retirement or write-off of long-lived assets 76 656 642
Other non-cash charges 2,362 3,102 370
Restructuring 1,959 10,632 0
Intangibles impairment 0 85,760 0
Net change in operating assets and liabilities:      
Accounts receivable, net (12,767) 89,791 (124,826)
Inventories 6,204 (95,014) 42,502
Prepaid wafers 47,571 0 (195,000)
Other assets 18,303 1,852 (92,584)
Accounts payable (23,943) (34,307) 10,529
Accrued salaries and benefits (6,279) (15,108) 10,049
Income taxes payable 15,108 (6,019) (804)
Acquisition-related liabilities (21,361) 12,654 39,656
Other accrued liabilities (4,390) (9,464) (5,587)
Net cash provided by operating activities 421,674 339,568 124,753
Cash flows from investing activities:      
Maturities and sales of available-for-sale marketable securities 37,032 18,683 371,545
Purchases of available-for-sale marketable securities (161,699) (15,299) (83,023)
Purchases of property, equipment and software (37,650) (35,090) (26,139)
Investments in technology (695) (1,624) (3,871)
Acquisition of business, net of cash obtained 0 0 (276,884)
Net cash used in investing activities (163,012) (33,330) (18,372)
Cash flows from financing activities:      
Debt issuance costs 0 0 (1,718)
Payment of acquisition-related holdback 0 (30,949) 0
Issuance of common stock, net of shares withheld for taxes 3,329 10,145 13,220
Repurchase of stock to satisfy employee tax withholding obligations (19,016) (18,082) (22,732)
Repurchase and retirement of common stock (185,995) (191,382) (167,501)
Net cash used in financing activities (201,682) (230,268) (178,731)
Net increase (decrease) in cash and cash equivalents 56,980 75,970 (72,350)
Cash and cash equivalents at beginning of period 445,784 369,814 442,164
Cash and cash equivalents at end of period 502,764 445,784 369,814
Cash payments during the year for:      
Income taxes 43,377 91,955 35,693
Interest $ 658 $ 537 $ 572