|
| ||||||
* Prior-period information has been restated for the adoption of ASC 606, Revenue from Contracts with Customers. |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
(In millions) | |||||||
(Unaudited) | |||||||
|
|
|
|
|
| Fiscal Years | ||
|
|
|
|
|
| 2018 |
| 2017 |
|
|
|
|
|
|
|
| * As Adjusted |
|
|
|
|
|
|
|
|
|
Cash flow from operating activities: |
|
|
|
| |||
|
| Net Income |
| $ 283.3 |
| $ 118.5 | ||
|
|
|
|
|
|
|
|
|
|
| Adjustments to reconcile net income to net cash provided by |
|
|
|
| ||
|
|
| operating activities: |
|
|
|
| |
|
|
|
| Depreciation expense |
| 35.6 |
| 34.6 |
|
|
|
| Amortization expense |
| 179.6 |
| 148.8 |
|
|
|
| Stock-based compensation |
| 76.9 |
| 64.8 |
|
|
|
| Income (loss) from equity method investments |
| 1.9 |
| (11.4) |
|
|
|
| Other non-cash items |
| 14.7 |
| (1.3) |
|
|
|
|
|
|
|
|
|
|
| Decrease (increase) in assets: |
|
|
|
| ||
|
|
|
| Accounts receivable, net |
| (51.0) |
| (42.7) |
|
|
|
| Inventories |
| (45.0) |
| (37.3) |
|
|
|
| Other current and non-current assets |
| (22.6) |
| (10.0) |
|
|
|
|
|
|
|
|
|
|
| Increase (decrease) in liabilities: |
|
|
|
| ||
|
|
|
| Accounts payable |
| (2.0) |
| 25.7 |
|
|
|
| Accrued compensation and benefits |
| 18.6 |
| 34.0 |
|
|
|
| Deferred revenue |
| 76.3 |
| 19.3 |
|
|
|
| Other liabilities |
| (79.6) |
| 86.7 |
Net cash provided by operating activities |
| 486.7 |
| 429.7 | |||
|
|
|
|
|
|
|
|
|
| Cash flow from investing activities: |
|
|
|
| |||
|
| Acquisitions of businesses, net of cash acquired |
| (1,763.5) |
| (280.2) | ||
|
| Acquisitions of property and equipment |
| (67.6) |
| (43.7) | ||
|
| Purchases of short-term investments |
| (24.0) |
| (288.0) | ||
|
| Proceeds from maturities of short-term investments |
| 6.2 |
| 122.1 | ||
|
| Proceeds from sales of short-term investments |
| 196.8 |
| 97.7 | ||
|
| Other |
| 2.5 |
| 20.9 | ||
| Net cash used in investing activities |
| (1,649.6) |
| (371.2) | |||
|
|
|
|
|
|
|
|
|
| Cash flow from financing activities: |
|
|
|
| |||
|
| Issuance of common stock, net of tax withholdings |
| 40.2 |
| 73.8 | ||
|
| Repurchases of common stock |
| (93.0) |
| (285.3) | ||
|
| Proceeds from debt and revolving credit lines |
| 2,976.4 |
| 786.0 | ||
|
| Payments on debt and revolving credit lines |
| (1,925.1) |
| (495.4) | ||
|
| Other |
| (9.1) |
| (12.6) | ||
| Net cash provided by financing activities |
| 989.4 |
| 66.5 | |||
|
|
|
|
|
|
|
|
|
| Effect of exchange rate changes on cash and cash equivalents |
| (12.5) |
| 17.4 | |||
|
|
|
|
|
|
|
|
|
| Net increase (decrease) in cash and cash equivalents |
| (186.0) |
| 142.4 | |||
| Cash and cash equivalents - beginning of period |
| 358.5 |
| 216.1 | |||
|
|
|
|
|
|
|
|
|
| Cash and cash equivalents - end of period |
| $ 172.5 |
| $ 358.5 | |||
