Note D: Non-GAAP Net Income Per Share Items. We provide diluted non-GAAP net income per share. The diluted non-GAAP net income per share includes additional dilution from potential issuance of common stock, except when such issuances would be anti-dilutive.
Juniper Networks, Inc. Preliminary Condensed Consolidated Balance Sheets (in millions) (unaudited) |
|||||||
|
March 31,
|
|
December 31,
|
||||
ASSETS |
|
|
|
||||
Current assets: |
|
|
|
||||
Cash and cash equivalents |
$ |
989.1 |
|
|
$ |
1,361.9 |
|
Short-term investments |
294.1 |
|
|
412.1 |
|
||
Accounts receivable, net of allowances |
758.9 |
|
|
964.1 |
|
||
Prepaid expenses and other current assets |
558.2 |
|
|
533.1 |
|
||
Total current assets |
2,600.3 |
|
|
3,271.2 |
|
||
Property and equipment, net |
743.6 |
|
|
762.3 |
|
||
Operating lease assets |
185.8 |
|
|
184.6 |
|
||
Long-term investments |
481.4 |
|
|
656.6 |
|
||
Purchased intangible assets, net |
335.1 |
|
|
266.7 |
|
||
Goodwill |
3,753.3 |
|
|
3,669.6 |
|
||
Other long-term assets |
611.6 |
|
|
567.3 |
|
||
Total assets |
$ |
8,711.1 |
|
|
$ |
9,378.3 |
|
|
|
|
|
||||
LIABILITIES AND STOCKHOLDERS' EQUITY |
|
|
|
||||
| Current liabilities: |
|
|
|
||||
| Accounts payable |
$ |
244.8 |
|
|
$ |
277.0 |
|
| Accrued compensation |
207.3 |
|
|
270.7 |
|
||
| Deferred revenue |
897.2 |
|
|
867.3 |
|
||
| Short-term portion of long-term debt |
— |
|
|
421.5 |
|
||
| Other accrued liabilities |
258.4 |
|
|
324.6 |
|
||
| Total current liabilities |
1,607.7 |
|
|
2,161.1 |
|
||
| Long-term debt |
1,685.2 |
|
|
1,705.8 |
|
||
| Long-term deferred revenue |
434.5 |
|
|
418.5 |
|
||
| Long-term income taxes payable |
313.7 |
|
|
312.5 |
|
||
| Long-term operating lease liabilities |
164.0 |
|
|
163.5 |
|
||
| Other long-term liabilities |
76.4 |
|
|
73.4 |
|
||
| Total liabilities |
4,281.5 |
|
|
4,834.8 |
|
||
| Total stockholders' equity |
4,429.6 |
|
|
4,543.5 |
|
||
| Total liabilities and stockholders' equity |
$ |
8,711.1 |
|
|
$ |
9,378.3 |
|
| Juniper Networks, Inc. Preliminary Condensed Consolidated Statements of Cash Flows (in millions) (unaudited) |
|||||||
|
|
Three Months Ended March 31, |
||||||
|
|
2021 |
|
2020 |
||||
| Cash flows from operating activities: |
|
|
|
||||
| Net (loss) income |
$ |
(31.1 |
) |
|
$ |
20.4 |
|
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: |
|
|
|
||||
| Share-based compensation expense |
57.5 |
|
|
42.0 |
|
||
| Depreciation, amortization, and accretion |
60.4 |
|
|
54.0 |
|
||
| Operating lease assets expense |
11.7 |
|
|
10.5 |
|
||
| Loss on extinguishment of debt |
60.6 |
|
|
— |
|
||
| Other |
(3.9 |
) |
|
10.3 |
|
||
| Changes in operating assets and liabilities, net of acquisitions: |
|
|
|
||||
| Accounts receivable, net |
204.8 |
|
|
202.6 |
|
||
| Prepaid expenses and other assets |
(39.1 |
) |
|
(37.1 |
) |
||
| Accounts payable |
(29.4 |
) |
|
18.4 |
|
||
| Accrued compensation |
(61.5 |
) |
|
(59.8 |
) |
||
| Income taxes payable |
(23.1 |
) |
|
5.1 |
|
||
| Other accrued liabilities |
(72.6 |
) |
|
(27.0 |
) |
||
| Deferred revenue |
45.5 |
|
|
32.8 |
|
||
| Net cash provided by operating activities |
179.8 |
|
|
272.2 |
|
||
| Cash flows from investing activities: |
|
|
|
||||
| Purchases of property and equipment |
(19.7 |
) |
|
(21.8 |
) |
||
| Purchases of available-for-sale debt securities |
(104.8 |
) |
|
(257.1 |
) |
||
| Proceeds from sales of available-for-sale debt securities |
283.7 |
|
|
94.0 |
|
||
| Proceeds from maturities and redemptions of available-for-sale debt securities |
118.1 |
|
|
354.0 |
|
||
| Purchases of equity securities |
(1.5 |
) |
|
(3.1 |
) |
||
| Proceeds from sales of equity securities |
2.9 |
|
|
3.1 |
|
||
| Payments for business acquisitions, net of cash and cash equivalents acquired |
(175.0 |
) |
|
(0.2 |
) |
||
| Other |
(1.3 |
) |
|
— |
|
||
| Net cash provided by investing activities |
102.4 |
|
|
168.9 |
|
||
| Cash flows from financing activities: |
|
|
|
||||
| Repurchase and retirement of common stock |
(131.9 |
) |
|
(203.2 |
) |
||
| Proceeds from issuance of common stock |
28.2 |
|
|
27.1 |
|
||
| Payment of dividends |
(65.2 |
) |
|
(65.5 |
) |
||
| Payment of debt |
(423.8 |
) |
|
— |
|
||
| Payment for debt extinguishment costs |
(58.3 |
) |
|
— |
|
||
| Net cash used in financing activities |
(651.0 |
) |
|
(241.6 |
) |
||
| Effect of foreign currency exchange rates on cash, cash equivalents, and restricted cash |
(2.0 |
) |
|
(16.2 |
) |
||
| Net (decrease) increase in cash, cash equivalents, and restricted cash |
(370.8 |
) |
|
183.3 |
|
||
| Cash, cash equivalents, and restricted cash at beginning of period |
1,383.0 |
|
|
1,276.5 |
|
||
| Cash, cash equivalents, and restricted cash at end of period |
$ |
1,012.2 |
|
|
$ |
1,459.8 |
|
