Investing activities during the three months ended April 1, 2018 provided cash of
$462.9 million, due to $800.7 million and $212.7 million in proceeds from sales and maturities of marketable securities, respectively, partially offset by $490.3 million used for purchases of marketable securities,
$34.8 million used for purchases of property, plant and equipment and $25.4 million used for the acquisition of Energid.
Financing activities during the three months ended April 1, 2018 used cash of $174.4 million, due to $134.3 million used for
the repurchase of 2.9 million shares of common stock at an average price of $45.69 per share, $19.6 million used for payment related to net settlement of employee stock compensation awards, $17.6 million used for dividend payments,
and $13.6 million used for a payment related to Universal Robots acquisition contingent consideration, partially offset by $10.7 million from the issuance of common stock under employee stock purchase and stock option plans.
Operating activities during the three months ended April 2, 2017 used cash of $61.1 million. Changes in operating assets and liabilities used
cash of $182.4 million. This was due to a $184.9 million increase in operating assets and a $2.5 million increase in operating liabilities.
The increase in operating assets was primarily due to a $123.8 million increase in accounts receivable due to the delivery profile of
first quarter shipments and a $62.2 million increase in inventories to support increased shipments in the second quarter.
The
decrease in operating liabilities was due to a $31.0 million decrease in accrued employee compensation due primarily to first quarter payments related to variable compensation, a $3.3 million decrease in deferred revenue and customer
advance payments, a $0.9 million decrease in other accrued liabilities and $0.9 million of retirement plan contributions, partially offset by a $24.3 million increase in accounts payable and a $14.3 million increase in income
taxes.
Investing activities during the three months ended April 2, 2017 provided cash of $126.4 million, due to
$213.6 million and $88.2 million in proceeds from sales and maturities of marketable securities, respectively, partially offset by $153.3 used for purchases of marketable securities and $22.1 million used for purchases of property,
plant and equipment.
Financing activities during the three months ended April 2, 2017 used cash of $50.0 million, due to
$37.7 million used for the repurchase of 1.3 million shares of common stock at an average price of $29.38 per share, $14.0 million used for dividend payments, $12.3 million used for payment related to net settlement of
employee stock compensation awards and $1.1 million used for a payment related to AIT contingent consideration, partially offset by $15.1 million from the issuance of common stock under employee stock purchase and stock option plans.
In January 2018, our Board of Directors declared a quarterly cash dividend of $0.09 per share that was paid on March 23, 2018 to
shareholders of record as of February 23, 2018. Dividend payments for the three months ended April 1, 2018 were $17.6 million.
In January 2017, our Board of Directors declared a quarterly cash dividend of $0.07 per share that was paid on March 20, 2017 to
shareholders of record as of February 24, 2017. Dividend payments for the three months ended April 2, 2017 were $14.0 million.
In January 2018, our Board of Directors cancelled the December 2016 stock repurchase program and authorized a new stock repurchase program for
up to $1.5 billion of common stock. We intend to repurchase $750 million in 2018. During the three months ended April 1, 2018, we repurchased 2.9 million shares of common stock for $134.3 million at an average price of
$45.69 per share.
In December 2016, our Board of Directors approved a $500 million share repurchase authorization which commenced on
January 1, 2017. During the three months ended April 2, 2017, we repurchased 1.3 million shares of common stock for $37.7 million at an average price of $29.38 per share.
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