Immaterial Restatement of Previously Issued Financial Statements and Reclassification |
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| Immaterial Restatement of Previously Issued Financial Statements and Reclassification | Note 15. Immaterial Restatement of Previously Issued Financial Statements and Reclassification In the second quarter of fiscal 2017, the Company identified certain reporting errors in its consolidated statement of cash flows for the three months ended April 30, 2016, which it corrected in the consolidated statement of cash flows for the six months ended July 30, 2016. For the three months ended April 30, 2016, the Company previously excluded cash inflows of $53.7 million from net cash provided by investing activities related to unsettled trades of available-for-sale securities that settled in the quarter and had reported such cash inflows as changes in prepaid expenses and other assets within net cash used in operating activities. The Company also previously excluded depreciation of $5.3 million on certain manufacturing equipment from net cash used in operating activities and therefore, understated purchases of property and equipment within net cash provided by investing activities. These errors had no effect on the Company’s results of operations or financial position as of and for the three months ended April 30, 2016. The Company concluded that the condensed consolidated statement of cash flows for the three months ended April 30, 2016 is not materially misstated. The following table provides a summary of the corrections and their effect on net cash used in operating activities and net cash provided by investing activities (in thousands):
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