Lumentum Holdings Inc. (LITE) FY2024 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2023-07-02 to 2024-06-29

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Lumentum Holdings Inc. cash flow reconciliation, Jul 2, 2023 through Jun 29, 2024One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Amortization and write-off of acquired intangible assets → operating reconciliation: $179,700,000.00Stock-based compensation → operating reconciliation: $128,800,000.00Depreciation expense → operating reconciliation: $110,600,000.00Income taxes, net → operating reconciliation: $77,700,000.00Inventories → operating reconciliation: $73,800,000.00Accounts receivable → operating reconciliation: $72,300,000.00Prepayments and other current and non-currents assets → operating reconciliation: $30,600,000.00Amortization of debt discount and debt issuance costs → operating reconciliation: $14,600,000.00Amortization of inventory fair value adjustment in connection with acquisition → operating reconciliation: $8,300,000.00Operating lease right-of-use assets, net → operating reconciliation: $3,400,000.00(Gain) loss on sales and dispositions of property, plant and equipment → operating reconciliation: $2,600,000.00operating reconciliation → Net cash from operating activities: $24,700,000.00operating reconciliation → Net income (loss): $546,500,000.00operating reconciliation → Accounts payable: $89,700,000.00operating reconciliation → Accrued expenses and other current and non-current liabilities: $16,100,000.00operating reconciliation → Other non-cash (income) expenses, net: $12,200,000.00operating reconciliation → Accrued payroll and related expenses: $8,900,000.00operating reconciliation → Operating lease liabilities: $4,300,000.00Proceeds from maturities and sales of short-term investments → investing reconciliation: $1,001,500,000.00Proceeds from the sales of property and equipment → investing reconciliation: $800,000.00investing reconciliation → Acquisition of businesses, net of cash acquired: $700,900,000.00investing reconciliation → Purchases of short-term investments: $278,700,000.00investing reconciliation → Payments for acquisition of property, plant and equipment: $133,000,000.00investing reconciliation → Payment for acquisition of intangible assets: $4,000,000.00Net cash used in financing activities → financing reconciliation: $332,700,000.00Proceeds from employee stock plans → financing reconciliation: $14,400,000.00financing reconciliation → Repayment of term loan: $323,100,000.00financing reconciliation → Payment of withholding taxes related to net share settlement of restricted stock units: $24,000,000.00Net cash used in investing activities → investing reconciliation: $114,300,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $859,000,000.00Net cash from operating activities → Cash sources and uses: $24,700,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $436,700,000.00Cash sources and uses → Net cash used in investing activities: $114,300,000.00Cash sources and uses → Net cash used in financing activities: $332,700,000.00Net income (loss): -$546,500,000.00Net income (loss)−$546.50 MDepreciation expense: $110,600,000.00Depreciation expense+$110.60 MStock-based compensation: $128,800,000.00Stock-based compensation+$128.80 MAmortization and write-off of acquired intangible assets: $179,700,000.00Intangible amort. & write-off+$179.70 M(Gain) loss on sales and dispositions of property, plant and equipment: $2,600,000.00PP&E disposal gain & loss+$2.60 MAmortization of debt discount and debt issuance costs: $14,600,000.00Discount & premium amortization+$14.60 MAmortization of inventory fair value adjustment in connection with acquisition: $8,300,000.00Inventory step-up amort.+$8.30 MOther non-cash (income) expenses, net: -$12,200,000.00Other non-cash items−$12.20 MAccounts receivable: $72,300,000.00Accounts receivable+$72.30 MInventories: $73,800,000.00Inventories+$73.80 MPrepayments and other current and non-currents assets: $30,600,000.00Other operating assets+$30.60 MIncome taxes, net: $77,700,000.00Deferred tax balances+$77.70 MAccounts payable: -$89,700,000.00Accounts payable−$89.70 MAccrued payroll and related expenses: -$8,900,000.00Accrued compensation−$8.90 MOperating lease liabilities: -$4,300,000.00Operating lease liabilities−$4.30 MAccrued expenses and other current and non-current liabilities: -$16,100,000.00Other accrued liabilities−$16.10 MOperating lease right-of-use assets, net: $3,400,000.00Operating lease right-of-use+$3.40 MGain on repurchase of convertible notes: $0.00Net cash from operating activities: $24,700,000.00Operating cash+$24.70 Moperating reconciliation: $702,400,000.00Repayment of term loan: -$323,100,000.00Secured debt repaid−$323.10 MRepurchase of common stock: $0.00Proceeds from the issuance of notes, net of issuance costs - 2028 Notes: $0.00Proceeds from the issuance of notes, net of issuance costs - 2029 Notes: $0.00Payment of withholding taxes related to net share settlement of restricted stock units: -$24,000,000.00Stock-award tax withholding−$24.00 MProceeds from employee stock plans: $14,400,000.00Employee stock plan proceeds+$14.40 MNet cash used in financing activities: -$332,700,000.00. Cash required to fund net payments.Financing cash−$332.70 Mfinancing reconciliation: $347,100,000.00Purchases of short-term investments: -$278,700,000.00Short-term investment purchases−$278.70 MProceeds from maturities and sales of short-term investments: $1,001,500,000.00Short-term investment proceeds+$1.00 BPayments for acquisition of property, plant and equipment: -$133,000,000.00PP&E purchases−$133.00 MTerm loan funding provided to NeoPhotonics: $0.00Acquisition of businesses, net of cash acquired: -$700,900,000.00Acquisitions, net of cash−$700.90 MProceeds from the sales of property and equipment: $800,000.00PP&E sales+$800.00 KPayment for acquisition of intangible assets: -$4,000,000.00Intangible asset purchases−$4.00 MNet cash used in investing activities: -$114,300,000.00. Cash required to fund net payments.Investing cash−$114.30 Minvesting reconciliation: $1,116,600,000.00Cash sources and uses: $883,700,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $859,000,000.00Beginning cash$859.00 MEnding cash: Cash, cash equivalents, and restricted cash: $436,700,000.00Ending cash$436.70 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsNet loss −$546.50M + net operating adjustments $571.20M = operating cash +$24.70MFree cash flow−$108.30 MOperating cash − cash spent on PP&ECash flow / Net incomeNot meaningfulOperating cash flow ÷ net incomeNet cash change−$422.30 MEnding cash − beginning cash
Chart details

Lumentum Holdings Inc. cash flow reconciliation, Jul 2, 2023 through Jun 29, 2024

Cash flows for Jul 2, 2023 through Jun 29, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Jul 1, 2023. Ending cash: Jun 29, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Jul 1, 2023
859,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
24,700,000 US dollars. Net cash provided.
Net income (loss)
negative 546,500,000 US dollars
Depreciation expense
110,600,000 US dollars
Stock-based compensation
128,800,000 US dollars
Amortization and write-off of acquired intangible assets
179,700,000 US dollars
(Gain) loss on sales and dispositions of property, plant and equipment
2,600,000 US dollars
Amortization of debt discount and debt issuance costs
14,600,000 US dollars
Amortization of inventory fair value adjustment in connection with acquisition
8,300,000 US dollars
Other non-cash (income) expenses, net
negative 12,200,000 US dollars
Accounts receivable
72,300,000 US dollars
Inventories
73,800,000 US dollars
Prepayments and other current and non-currents assets
30,600,000 US dollars
Income taxes, net
77,700,000 US dollars
Accounts payable
negative 89,700,000 US dollars
Accrued payroll and related expenses
negative 8,900,000 US dollars
Operating lease liabilities
negative 4,300,000 US dollars
Accrued expenses and other current and non-current liabilities
negative 16,100,000 US dollars
Operating lease right-of-use assets, net
3,400,000 US dollars
Gain on repurchase of convertible notes
0 US dollars
Investing activities
negative 114,300,000 US dollars. Net cash used.
Purchases of short-term investments
negative 278,700,000 US dollars
Proceeds from maturities and sales of short-term investments
1,001,500,000 US dollars
Payments for acquisition of property, plant and equipment
negative 133,000,000 US dollars
Term loan funding provided to NeoPhotonics
0 US dollars
Acquisition of businesses, net of cash acquired
negative 700,900,000 US dollars
Proceeds from the sales of property and equipment
800,000 US dollars
Payment for acquisition of intangible assets
negative 4,000,000 US dollars
Financing activities
negative 332,700,000 US dollars. Net cash used.
Repayment of term loan
negative 323,100,000 US dollars
Repurchase of common stock
0 US dollars
Proceeds from the issuance of notes, net of issuance costs - 2028 Notes
0 US dollars
Proceeds from the issuance of notes, net of issuance costs - 2029 Notes
0 US dollars
Payment of withholding taxes related to net share settlement of restricted stock units
negative 24,000,000 US dollars
Proceeds from employee stock plans
14,400,000 US dollars
Operating adjustment reconciliation
702,400,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
347,100,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
1,116,600,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
0 US dollars
Ending cash on Jun 29, 2024
436,700,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
883,700,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
negative 422,300,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
Not meaningful. Operating cash flow divided by reconciliation net income for the same period. The ratio is not meaningful when net income is zero or negative.
Operating cash flow
24,700,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
133,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
negative 108,300,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net loss −$546.50M + net operating adjustments $571.20M = operating cash +$24.70M. The loss reduces the earnings basis of the reconciliation; it is not a cash payment. The signed loss remains a deduction at the operating reconciliation junction.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 24,700,000 US dollars minus 133,000,000 US dollars equals negative 108,300,000 US dollars.
Lumentum Holdings Inc. (LITE) FY2024 Annual Statement of Cash Flows Sankey chart
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