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MACOM TECHNOLOGY SOLUTIONS HOLDINGS, INC. |
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
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(unaudited and in thousands) |
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| Fiscal Year Ended | ||||||||||
| September 30, | October 2, | |||||||||
| 2016 | 2015 | |||||||||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||
| Net income | $ | 1,434 | $ | 48,589 | ||||||
| Adjustments to reconcile loss to net operating cash | 118,813 | 109,045 | ||||||||
| Gain on sale of business | — | (63,256 | ) | |||||||
| Change in operating assets and liabilities | (41,015 | ) | (60,700 | ) | ||||||
| Net cash from operating activities | 79,232 | 33,678 | ||||||||
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||
| Acquisition of businesses, net | (85,517 | ) | (208,352 | ) | ||||||
| Purchases, sales and maturities of investments | 15,257 | (40,183 | ) | |||||||
| Proceeds from discontinued operations | 7,500 | — | ||||||||
| Sale of businesses | — | 81,208 | ||||||||
| Strategic investments | — | 1,500 | ||||||||
| Purchases of property and equipment | (31,326 | ) | (38,252 | ) | ||||||
| Acquisition of intellectual property | (777 | ) | (3,346 | ) | ||||||
| Net cash used in investing activities | (94,863 | ) | (207,425 | ) | ||||||
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||
| Proceeds from notes payable | 247,625 | — | ||||||||
| Payments of notes payable and assumed debt | (14,076 | ) | (5,004 | ) | ||||||
| Proceeds from stock offering | — | 127,761 | ||||||||
| Proceeds from stock option exercises and employee stock purchases | 5,460 | 5,450 | ||||||||
| Repurchase of common stock | (9,995 | ) | (8,626 | ) | ||||||
| Borrowings on revolving facility | — | 100,000 | ||||||||
| Payments on revolving facility | — | (100,000 | ) | |||||||
| Other financing activities | (1,660 | ) | 2,826 | |||||||
| Net cash from financing activities | 227,354 | 122,407 | ||||||||
| EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | (1,058 | ) | (243 | ) | ||||||
| NET CHANGE IN CASH AND CASH EQUIVALENTS | 210,665 | (51,583 | ) | |||||||
| CASH AND CASH EQUIVALENTS — Beginning of period | 122,312 | 173,895 | ||||||||
| CASH AND CASH EQUIVALENTS — End of period | $ | 332,977 | $ | 122,312 | ||||||
