VIAVI SOLUTIONS INC
For the period ended Sep 28, 2024. Filed Nov 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 28, 2024 · Filed Nov 1, 2024
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Consolidated Statements of Cash Flows for the
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Three Months Ended | ||
|---|---|---|
| September 28, 2024 | September 30, 2023 | |
| OPERATING ACTIVITIES: | ||
| Net (loss) income | $(1.8) | $9.8 |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | ||
| Depreciation expense | 9.7 | 9.8 |
| Amortization of acquired technologies and other intangibles | 4.4 | 5.6 |
| Stock-based compensation | 12.7 | 11.2 |
| Amortization of debt issuance costs | 1.8 | 1.9 |
| Net change in fair value of contingent liabilities | (3.5) | (1.4) |
| Deferred taxes, net | (4.7) | 1.2 |
| Restructuring | — | (0.8) |
| Other | (0.2) | 0.2 |
| Changes in operating assets and liabilities, net of acquisitions: | ||
| Accounts receivable | 13.2 | 38.0 |
| Inventories | 2.9 | (0.3) |
| Other current and non-currents assets | (2.4) | 3.9 |
| Accounts payable | (4.0) | (7.6) |
| Income taxes payable | 2.6 | (0.6) |
| Deferred revenue, current and non-current | (4.6) | (10.1) |
| Accrued payroll and related expenses | (5.1) | (9.1) |
| Accrued expenses and other current and non-current liabilities | (7.5) | (1.4) |
| Net cash provided by operating activities | $13.5 | $50.3 |
| INVESTING ACTIVITIES: | ||
| Purchases of short-term investments | $(43.3) | $(52.3) |
| Maturities of short-term investments | 38.6 | 45.8 |
| Capital expenditures | (7.3) | (6.7) |
| Proceeds from the sale of assets | 3.5 | 0.6 |
| Other investing activities | (3.0) | — |
| Net cash used in investing activities | $(11.5) | $(12.6) |
| FINANCING ACTIVITIES: | ||
| Repurchase and retirement of common stock | $(16.4) | $(10.0) |
| Withholding tax payment on vesting of restricted stock and performance- based awards | (7.3) | (9.1) |
| Proceeds from employee stock purchase plan | 2.7 | 3.0 |
| Net cash used in financing activities | $(21.0) | $(16.1) |
| Effect of exchange rates on cash, cash equivalents and restricted cash | $15.3 | $(9.3) |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (3.7) | 12.3 |
| Cash, cash equivalents and restricted cash at the beginning of the period (1) | 481.8 | 515.6 |
| Cash, cash equivalents and restricted cash at the end of the period (2) | $478.1 | $527.9 |
(1)These amounts include both current and non-current balances of restricted cash totaling $10.5 million and $9.1 million as of June 29, 2024 and July 1, 2023, respectively.
(2)These amounts include both current and non-current balances of restricted cash totaling $10.2 million and $7.3 million as of September 28, 2024 and September 30, 2023, respectively.
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