$LITE
Lumentum Holdings Inc.

2020 Q3 Form 10-Q Financial Statement

#000163397820000018 Filed on November 02, 2020

View on sec.gov

Income Statement

Concept 2020 Q3 2019 Q3
Revenue $452.4M $449.9M
YoY Change 0.56% 27.05%
Cost Of Revenue $246.7M $269.7M
YoY Change -8.53% 18.65%
Gross Profit $205.7M $167.7M
YoY Change 22.66% 33.1%
Gross Profit Margin 45.47% 37.27%
Selling, General & Admin $56.30M $56.70M
YoY Change -0.71% 71.82%
% of Gross Profit 27.37% 33.81%
Research & Development $50.40M $49.90M
YoY Change 1.0% 44.22%
% of Gross Profit 24.5% 29.76%
Depreciation & Amortization $23.80M $31.60M
YoY Change -24.68% 60.41%
% of Gross Profit 11.57% 18.84%
Operating Expenses $106.7M $107.9M
YoY Change -1.11% 56.6%
Operating Profit $99.00M $59.80M
YoY Change 65.55% 4.73%
Interest Expense $16.00M $11.40M
YoY Change 40.35% 123.53%
% of Operating Profit 16.16% 19.06%
Other Income/Expense, Net $600.0K $5.000M
YoY Change -88.0% 85.19%
Pretax Income $83.60M $53.40M
YoY Change 56.55% 1.52%
Income Tax $16.50M $5.800M
% Of Pretax Income 19.74% 10.86%
Net Earnings $67.10M $47.60M
YoY Change 40.97% 0.42%
Net Earnings / Revenue 14.83% 10.58%
Basic Earnings Per Share $0.89 $0.62
Diluted Earnings Per Share $0.86 $0.61
COMMON SHARES
Basic Shares Outstanding 75.30M shares 76.90M shares
Diluted Shares Outstanding 78.20M shares 77.60M shares

Balance Sheet

Concept 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.611B $830.9M
YoY Change 93.85% 13.16%
Cash & Equivalents $269.5M $539.0M
Short-Term Investments $1.341B $291.9M
Other Short-Term Assets $79.80M $50.50M
YoY Change 58.02% -28.47%
Inventory $212.6M $202.2M
Prepaid Expenses $37.20M
Receivables $263.6M $292.8M
Other Receivables $0.00 $46.80M
Total Short-Term Assets $2.167B $1.423B
YoY Change 52.24% 20.5%
LONG-TERM ASSETS
Property, Plant & Equipment $468.1M $436.7M
YoY Change 7.19% 37.07%
Goodwill $368.9M $368.9M
YoY Change 0.0% 3164.6%
Intangibles $296.1M $376.6M
YoY Change -21.38%
Long-Term Investments
YoY Change
Other Assets $6.000M $4.600M
YoY Change 30.43% -19.3%
Total Long-Term Assets $1.221B $1.445B
YoY Change -15.5% 211.4%
TOTAL ASSETS
Total Short-Term Assets $2.167B $1.423B
Total Long-Term Assets $1.221B $1.445B
Total Assets $3.387B $2.868B
YoY Change 18.12% 74.33%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $146.0M $152.2M
YoY Change -4.07% 19.28%
Accrued Expenses $34.30M $51.40M
YoY Change -33.27% 46.86%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $400.0K $15.90M
YoY Change -97.48% 194.44%
Total Short-Term Liabilities $293.4M $316.8M
YoY Change -7.39% 48.11%
LONG-TERM LIABILITIES
Long-Term Debt $1.135B $840.0M
YoY Change 35.08% 148.15%
Other Long-Term Liabilities $38.80M $32.10M
YoY Change 20.87% 70.74%
Total Long-Term Liabilities $38.80M $32.10M
YoY Change 20.87% 70.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $293.4M $316.8M
Total Long-Term Liabilities $38.80M $32.10M
Total Liabilities $1.571B $1.307B
YoY Change 20.27% 108.81%
SHAREHOLDERS EQUITY
Retained Earnings $131.7M $176.7M
YoY Change -25.47% 6.57%
Common Stock $100.0K $100.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.816B $1.561B
YoY Change
Total Liabilities & Shareholders Equity $3.387B $2.868B
YoY Change 18.12% 74.33%

Cashflow Statement

Concept 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $67.10M $47.60M
YoY Change 40.97% 0.42%
Depreciation, Depletion And Amortization $23.80M $31.60M
YoY Change -24.68% 60.41%
Cash From Operating Activities $104.7M $87.50M
YoY Change 19.66% 52.97%
INVESTING ACTIVITIES
Capital Expenditures $26.30M $21.70M
YoY Change 21.2% -26.69%
Acquisitions
YoY Change
Other Investing Activities -$87.70M $44.40M
YoY Change -297.52% 11.56%
Cash From Investing Activities -$114.0M $21.70M
YoY Change -625.35% 128.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$19.20M -$2.800M
YoY Change 585.71% -39.13%
NET CHANGE
Cash From Operating Activities $104.7M $87.50M
Cash From Investing Activities -$114.0M $21.70M
Cash From Financing Activities -$19.20M -$2.800M
Net Change In Cash -$28.50M $106.4M
YoY Change -126.79% 71.34%
FREE CASH FLOW
Cash From Operating Activities $104.7M $87.50M
Capital Expenditures $26.30M $21.70M
Free Cash Flow $78.40M $65.80M
YoY Change 19.15% 138.41%

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NetCashProvidedByUsedInOperatingActivities
104700000 USD
CY2019Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
87500000 USD
CY2020Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
26300000 USD
CY2019Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
21700000 USD
CY2020Q3 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
0 USD
CY2019Q3 us-gaap Payments To Acquire Other Productive Assets
PaymentsToAcquireOtherProductiveAssets
1000000.0 USD
CY2020Q3 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
500000 USD
CY2019Q3 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
0 USD
CY2020Q3 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
491500000 USD
CY2019Q3 us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
51300000 USD
CY2020Q3 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
403300000 USD
CY2019Q3 us-gaap Proceeds From Sale Maturity And Collection Of Shortterm Investments
ProceedsFromSaleMaturityAndCollectionOfShorttermInvestments
95700000 USD
CY2020Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-114000000.0 USD
CY2019Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
21700000 USD
CY2020Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
19100000 USD
CY2019Q3 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2020Q3 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
200000 USD
CY2019Q3 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
2800000 USD
CY2020Q3 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
100000 USD
CY2019Q3 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2020Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-19200000 USD
CY2019Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2800000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-28500000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
106400000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
298000000.0 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
432600000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
269500000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
539000000.0 USD
CY2020Q3 us-gaap Income Taxes Paid
IncomeTaxesPaid
2000000.0 USD
CY2019Q3 us-gaap Income Taxes Paid
IncomeTaxesPaid
1100000 USD
CY2020Q3 us-gaap Interest Paid Net
InterestPaidNet
600000 USD
CY2019Q3 us-gaap Interest Paid Net
InterestPaidNet
4800000 USD
CY2020Q3 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
11100000 USD
CY2019Q3 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
16400000 USD
CY2020Q3 us-gaap Fiscal Period
FiscalPeriod
<div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:29px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;text-decoration:underline;">Fiscal Years</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:29px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">We utilize a 52-53 week fiscal year ending on the Saturday closest to June 30th. Every fifth or sixth fiscal year will have a 53-week period. The additional week in a 53-week year is added to the third quarter, making such quarter consist of 14 weeks. Our </span><span style="font-family:inherit;font-size:10pt;">fiscal 2021</span><span style="font-family:inherit;font-size:10pt;"> is a 53-week year ending on </span><span style="font-family:inherit;font-size:10pt;">July 3, 2021</span><span style="font-family:inherit;font-size:10pt;">, with the quarter ended </span><span style="font-family:inherit;font-size:10pt;">September 26, 2020</span><span style="font-family:inherit;font-size:10pt;"> being a 13-week quarterly period. Our </span><span style="font-family:inherit;font-size:10pt;">fiscal 2020</span><span style="font-family:inherit;font-size:10pt;"> was a 52-week year that ended on </span><span style="font-family:inherit;font-size:10pt;">June 27, 2020</span><span style="font-family:inherit;font-size:10pt;">, with the quarter ended </span><span style="font-family:inherit;font-size:10pt;">September 28, 2019</span><span style="font-family:inherit;font-size:10pt;"> being a 13-week quarterly period.</span></div>
CY2020Q3 us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="line-height:120%;padding-bottom:10px;padding-top:10px;font-size:10pt;"><span style="font-family:Times New Roman;font-size:10pt;font-style:normal;font-weight:bold;text-decoration:none;">Note 2. Recently Issued Accounting Pronouncements</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Accounting Pronouncements Recently Adopted</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In August 2018, FASB issued ASU 2018-13, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement. </span><span style="font-family:inherit;font-size:10pt;">ASU 2018-13 modifies the disclosure requirements on transfers between Level 1 and Level 2, valuation processes of Level 3 fair value measurements, and the categorization by level for items that are not measured at fair value, but for which the fair value is required to be disclosed. We adopted ASU 2018-13 in the first quarter of fiscal 2021 with no impact to our condensed consolidated financial statements.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In August 2018, FASB issued ASU 2018-15,</span><span style="font-family:inherit;font-size:10pt;font-style:italic;"> Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract.</span><span style="font-family:inherit;font-size:10pt;"> This standard requires capitalization of the implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. Further, the standard also requires the Company to expense the capitalized implementation costs of a hosting arrangement over the term of the hosting arrangement. We adopted ASU 2018-15 in the first quarter of fiscal 2021 with no impact to our condensed consolidated financial statements.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In June 2016, FASB issued ASU 2016-13, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments </span><span style="font-family:inherit;font-size:10pt;">and a subsequent amendment, ASU 2018-19 (collectively, Topic 326). Topic 326 requires measurement and recognition of expected credit losses for financial assets held. We adopted ASU 2016-13 using </span><span style="font-family:inherit;font-size:10pt;">the modified-retrospective approach </span><span style="font-family:inherit;font-size:10pt;">in the first quarter of fiscal 2021 with no material impact to our condensed consolidated financial statements.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">With the adoption of Topic 326, we are now assessing whether unrealized losses have resulted from a credit loss or other factors. We believe none of our unrealized losses on available-for-sale investments were other-than temporary or were attributable to credit losses as of </span><span style="font-family:inherit;font-size:10pt;">September 26, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">June 27, 2020</span><span style="font-family:inherit;font-size:10pt;">. We review our available-for-sale investments on a quarterly basis to identify a potential other-than-temporary impairment. The investments with unrealized losses consisted primarily of corporate debt securities, and given the extent of the unrealized loss positions, the issuers' high credit ratings and the near-term market conditions, we believe our unrealized losses are temporary. We also do not have an intent to sell our investments and would not be required to sell them before they recover.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The adoption of Topic 326 did not significantly change our approach to the valuation of trade receivables. We determine whether there is an expected loss on our accounts receivable by reviewing all available data, including our customers' latest available financial statements, their credit standing and historical collection experience, as well as current and future market and economic conditions. As of </span><span style="font-family:inherit;font-size:10pt;">September 26, 2020</span><span style="font-family:inherit;font-size:10pt;"> and </span><span style="font-family:inherit;font-size:10pt;">June 27, 2020</span><span style="font-family:inherit;font-size:10pt;">, the allowance for credit losses on our trade receivables was </span><span style="font-family:inherit;font-size:10pt;"><span>$1.8 million</span></span><span style="font-family:inherit;font-size:10pt;"> for each period presented.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Accounting Pronouncements Not Yet Effective</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In August 2020, FASB issued ASU 2020-06, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity</span><span style="font-family:inherit;font-size:10pt;">, which simplifies the accounting for convertible instruments by removing the separation models for (1) convertible debt with a cash conversion feature and (2) convertible instruments with a beneficial conversion feature. As a result, a convertible debt instrument will be accounted for as a single liability measured at its amortized cost. These changes will reduce reported interest expense and increase reported net income for entities that have issued a convertible instrument that was bifurcated according to previously existing rules. Also, ASU 2020-06 requires the application of the if-converted method for calculating diluted earnings per share and the treasury stock method will be no longer available. The new guidance is effective for fiscal years beginning after December 15, 2021, with early adoption permitted no earlier than fiscal years beginning after December 15, 2020. ASU 2020-06 is effective for us in our first quarter of fiscal year 2023. We are currently evaluating the impact of ASU 2020-06 on our condensed consolidated financial statements.</span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In December 2019, FASB issued ASU 2019-12, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Simplifying the Accounting for Income Taxes (Topic 740), </span><span style="font-family:inherit;font-size:10pt;">which is intended to simplify various aspects related to accounting for income taxes by removing certain exceptions to the general principles in Topic 740 and which also clarifies and amends existing guidance to improve consistent application. ASU 2019-12 is effective for us at the beginning of fiscal year 2022, including interim periods within that reporting period, although early adoption is permitted. We are currently evaluating the impact of ASU 2019-12 on our condensed consolidated financial statements. </span></div><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;text-indent:24px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">In August 2018, FASB issued ASU 2018-14, </span><span style="font-family:inherit;font-size:10pt;font-style:italic;">Compensation-Retirement Benefits-Defined Benefit Plans-General (Topic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans</span><span style="font-family:inherit;font-size:10pt;">. ASU 2018-14 modifies the disclosure requirements for defined benefit pension plans and other post-retirement benefit plans. The new guidance is effective for fiscal years ending after December 15, 2020, with early adoption permitted. ASU 2018-14 should be applied retrospectively to all periods presented and is effective for us in our fourth quarter of fiscal year 2021 as ASU 2018-14 does not amend the interim disclosure requirements. We are currently evaluating the impact of ASU 2018-14 on our condensed consolidated financial statements.</span></div>
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1800000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
67100000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
47600000 USD
CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
75300000 shares
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
76900000 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
900000 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
700000 shares
CY2020Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
2000000.0 shares
CY2019Q3 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
78200000 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
77600000 shares
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.89
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.62
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.86
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.61
CY2020Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
500000 shares
CY2019Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
400000 shares
CY2020Q3 us-gaap Cash
Cash
135600000 USD
CY2020Q3 us-gaap Cash
Cash
135600000 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
269500000 USD
CY2020Q3 lite Cashand Cash Equivalents Accumulated Gross Unrealized Gainbefore Tax
CashandCashEquivalentsAccumulatedGrossUnrealizedGainbeforeTax
0 USD
CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
269500000 USD
CY2020Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1339800000 USD
CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1600000 USD
CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
200000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1341200000 USD
CY2020Q2 us-gaap Cash
Cash
114200000 USD
CY2020Q2 us-gaap Cash
Cash
114200000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
298000000.0 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
298000000.0 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1252900000 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
3000000.0 USD
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
100000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1255800000 USD
CY2020Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
600000 USD
CY2019Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5000000.0 USD
CY2020Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
2400000 USD
CY2019Q3 us-gaap Investment Income Interest
InvestmentIncomeInterest
4000000.0 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
348000000.0 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
200000 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
348000000.0 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
200000 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
359200000 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
100000 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
0 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
359200000 USD
CY2020Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
100000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
1245900000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
1247100000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
1237400000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
1239900000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
93900000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
94100000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
15500000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
15900000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
1339800000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1341200000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
1252900000 USD
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1255800000 USD
CY2020Q3 us-gaap Cash
Cash
135600000 USD
CY2020Q2 us-gaap Cash
Cash
114200000 USD
CY2020Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
1800000 USD
CY2020Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
56700000 USD
CY2020Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
57900000 USD
CY2020Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
70600000 USD
CY2020Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
67600000 USD
CY2020Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
85300000 USD
CY2020Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
63400000 USD
CY2020Q3 us-gaap Inventory Net
InventoryNet
212600000 USD
CY2020Q2 us-gaap Inventory Net
InventoryNet
188900000 USD
CY2020Q3 lite Operating Lease Rightof Use Asset Gross
OperatingLeaseRightofUseAssetGross
88700000 USD
CY2020Q2 lite Operating Lease Rightof Use Asset Gross
OperatingLeaseRightofUseAssetGross
90300000 USD
CY2020Q3 lite Operating Lease Rightof Use Asset Accumulated Amortization
OperatingLeaseRightofUseAssetAccumulatedAmortization
14000000.0 USD
CY2020Q2 lite Operating Lease Rightof Use Asset Accumulated Amortization
OperatingLeaseRightofUseAssetAccumulatedAmortization
11600000 USD
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
74700000 USD
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
78700000 USD
CY2020Q3 lite Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
800900000 USD
CY2020Q2 lite Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
791200000 USD
CY2020Q3 lite Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
407500000 USD
CY2020Q2 lite Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
398200000 USD
CY2020Q3 lite Property Plant And Equipment And Finance Lease Rightof Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightofUseAssetAfterAccumulatedDepreciationAndAmortization
393400000 USD
CY2020Q2 lite Property Plant And Equipment And Finance Lease Rightof Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightofUseAssetAfterAccumulatedDepreciationAndAmortization
393000000.0 USD
CY2020Q3 us-gaap Depreciation
Depreciation
23800000 USD
CY2019Q3 us-gaap Depreciation
Depreciation
31600000 USD
CY2020Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
200000 USD
CY2020Q3 us-gaap Restructuring Reserve Current
RestructuringReserveCurrent
4400000 USD
CY2020Q2 us-gaap Restructuring Reserve Current
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CY2019Q3 us-gaap Operating Lease Cost
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CY2019Q3 us-gaap Variable Lease Cost
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CY2020Q3 us-gaap Short Term Lease Cost
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CY2019Q3 us-gaap Short Term Lease Cost
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CY2020Q3 us-gaap Sublease Income
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CY2019Q3 us-gaap Sublease Income
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CY2019Q3 us-gaap Lease Cost
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0.035
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0.035
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0.044
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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10000000.0 USD
CY2020Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
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400000 USD
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10400000 USD
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12600000 USD
CY2020Q3 us-gaap Finance Lease Liability Payments Due Year Two
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0 USD
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12600000 USD
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11400000 USD
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0 USD
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11400000 USD
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9700000 USD
CY2020Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
0 USD
CY2020Q3 lite Lease Liability Payments Due Year Four
LeaseLiabilityPaymentsDueYearFour
9700000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
6400000 USD
CY2020Q3 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
0 USD
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LeaseLiabilityPaymentsDueYearFive
6400000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
25800000 USD
CY2020Q3 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
0 USD
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LeaseLiabilityPaymentsDueafterYearFive
25800000 USD
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due
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CY2020Q3 us-gaap Finance Lease Liability Payments Due
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CY2020Q3 us-gaap Operating Lease Liability
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CY2020Q3 us-gaap Finance Lease Liability
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CY2020Q3 lite Lease Liability
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2100000 USD
CY2020Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
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CY2020Q3 us-gaap Goodwill
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5900000 USD
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6400000 USD
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6400000 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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456400000 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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5300000 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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1057700000 USD
CY2020Q3 us-gaap Long Term Debt
LongTermDebt
1538100000 USD
CY2019Q3 us-gaap Finance Lease Interest Expense
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100000 USD
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CY2020Q3 us-gaap Restructuring Charges
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CY2019Q3 us-gaap Restructuring Charges
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CY2020Q3 us-gaap Payments For Restructuring
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800000 USD
CY2019Q3 us-gaap Payments For Restructuring
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5200000 USD
CY2020Q3 us-gaap Restructuring Reserve Current
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4400000 USD
CY2019Q3 us-gaap Restructuring Reserve Current
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10700000 USD
CY2020Q3 us-gaap Payments For Restructuring
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800000 USD
CY2019Q3 us-gaap Restructuring Charges
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CY2020Q3 us-gaap Income Tax Expense Benefit
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CY2019Q3 us-gaap Income Tax Expense Benefit
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5800000 USD
CY2020Q3 us-gaap Income Tax Reconciliation Tax Contingencies
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900000 USD
CY2020Q3 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
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27900000 USD
CY2020Q3 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
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5100000 USD
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
19500000 USD
CY2019Q3 us-gaap Allocated Share Based Compensation Expense
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16700000 USD
CY2020Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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5300000 USD
CY2019Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
2800000 USD
CY2020Q3 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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4400000 USD
CY2020Q2 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
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3600000 USD
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
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50000.00 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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10000.00 shares
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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186000000.0 USD
CY2020Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M12D
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
3500000 shares
CY2020Q3 us-gaap Stock Issued During Period Shares Share Based Compensation Gross
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1200000 shares
CY2020Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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2300000 shares
CY2020Q3 us-gaap Purchase Commitment Remaining Minimum Amount Committed
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257900000 USD
CY2020Q3 lite Supply Agreement Typical Duration
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P1Y
CY2020Q2 us-gaap Product Warranty Accrual
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5000000.0 USD
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ProductWarrantyAccrual
7500000 USD
CY2020Q3 us-gaap Product Warranty Accrual Warranties Issued
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3900000 USD
CY2019Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
1200000 USD
CY2020Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1300000 USD
CY2019Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
1700000 USD
CY2020Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
7600000 USD
CY2019Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
7000000.0 USD
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2 segment
CY2020Q3 us-gaap Number Of Operating Segments
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2 segment
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205700000 USD
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167700000 USD
CY2020Q3 us-gaap Revenue Remaining Performance Obligation
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0 USD
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2 segment
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452400000 USD
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449900000 USD
CY2020Q3 lite Geographic Regions Number
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3 region
CY2020Q3 lite Geographic Regions Number
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452400000 USD
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449900000 USD
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542500000 USD
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43400000 USD
CY2020Q3 us-gaap Revenue Remaining Performance Obligation
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585900000 USD
CY2020Q3 us-gaap Contract With Customer Asset Net
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263600000 USD
CY2020Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
233500000 USD
CY2020Q3 lite Contract With Customer Asset Period Increase Decrease
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30100000 USD
CY2020Q3 lite Contract With Customer Asset Period Increase Decrease Percent
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0.129
CY2020Q3 us-gaap Contract With Customer Liability
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2000000.0 USD
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1900000 USD
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100000 USD
CY2020Q3 lite Contract With Customer Liability Period Increase Decrease Percent
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393400000 USD
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393000000.0 USD

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