CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)

First Quarter of

2024

Cash flow from operating activities:

Net income

$                                 57.2

$                              128.8

Adjustments to reconcile net income to net cash provided by                                  
operating activities:

Depreciation and amortization

62.9

44.5

Deferred income taxes

(13.8)

(33.8)

Stock-based compensation

36.4

33.5

Other, net

(2.3)

(27.8)

(Increase) decrease in assets:

Accounts receivable, net

63.9

62.1

Inventories

8.8

(11.1)

Other current and non-current assets

8.1

(6.2)

Increase (decrease) in liabilities:

Accounts payable

26.5

(9.1)

Accrued compensation and benefits

(46.3)

(26.5)

Deferred revenue

60.8

19.5

Income taxes payable

(18.1)

31.6

Other current and non-current liabilities

(10.3)

3.2

Net cash provided by operating activities

233.8

208.7

Cash flow from investing activities:

Acquisitions of businesses, net of cash acquired

—

(33.3)

Purchases of property and equipment

(6.8)

(6.4)

Other, net

3.3

12.0

Net cash used in investing activities

(3.5)

(27.7)

Cash flow from financing activities:

Issuance of common stock, net of tax withholdings

12.0

14.0

Repurchases of common stock

(175.0)

—

Proceeds from debt and revolving credit lines

521.2

1,097.1

Payments on debt and revolving credit lines

(555.8)

(523.4)

Other, net

(4.6)

(4.3)

Net cash (used in) provided by financing activities

(202.2)

583.4

Effect of exchange rate changes on cash and cash equivalents

(5.4)

2.7

Net decrease in cash and cash equivalents

22.7

767.1

Cash and cash equivalents - beginning of period ⁽¹⁾

238.9

271.0

Cash and cash equivalents - end of period ⁽¹⁾

$                              261.6

$                           1,038.1

(1) Include $6.5 million and $9.1 million of cash and cash equivalents classified as held for sale as of March 29, 2024 and
     December 29, 2023.