JUNIPER NETWORKS INC
CIK:0001043604|SEC Filings
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions |
3 Months Ended | |
|---|---|---|
Mar. 31, 2025 |
Mar. 31, 2024 |
|
| Cash flows from operating activities: | ||
| Net income (loss) | $ 64.1 | $ (0.8) |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Share-based compensation expense | 62.6 | 79.9 |
| Depreciation, amortization, and accretion | 36.5 | 44.2 |
| Deferred income taxes | (34.8) | (26.6) |
| Provision for inventory excess and obsolescence | 6.9 | (1.0) |
| Operating lease assets expense | 11.5 | 10.8 |
| Loss on privately-held investments, net | 3.3 | 14.3 |
| Loss from equity method investment | 0.0 | 2.1 |
| Loss (gain) on publicly-traded investments and others | 6.8 | (0.3) |
| Changes in operating assets and liabilities, net of acquisitions: | ||
| Accounts receivable, net | 246.2 | 228.8 |
| Inventory | (3.1) | (22.5) |
| Prepaid expenses and other assets | 14.3 | 70.2 |
| Accounts payable | (35.3) | (38.3) |
| Accrued compensation | (145.5) | (79.4) |
| Income taxes payable | 32.4 | (24.9) |
| Other accrued liabilities | (23.5) | (32.5) |
| Deferred revenue | 74.1 | 101.0 |
| Net cash provided by operating activities | 316.5 | 325.0 |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (24.3) | (34.8) |
| Purchases of available-for-sale debt securities | (215.4) | (283.5) |
| Proceeds from sales of available-for-sale debt securities | 17.1 | 6.1 |
| Proceeds from maturities and redemptions of available-for-sale debt securities | 64.5 | 45.1 |
| Purchases of equity securities | (6.6) | (2.7) |
| Proceeds from sales of equity securities | 2.1 | 4.3 |
| Net cash used in investing activities | (162.6) | (265.5) |
| Cash flows from financing activities: | ||
| Shares repurchased and retired for tax withholding on vesting of restricted stock | (17.0) | (14.6) |
| Proceeds from issuance of common stock | 0.1 | 32.1 |
| Payment of dividends | (73.4) | (71.4) |
| Net cash used in financing activities | (90.3) | (53.9) |
| Effect of foreign currency exchange rates on cash, cash equivalents, and restricted cash | 0.6 | (3.6) |
| Net increase in cash, cash equivalents, and restricted cash | 64.2 | 2.0 |
| Cash, cash equivalents, and restricted cash at beginning of period | 1,235.8 | 1,084.3 |
| Cash, cash equivalents, and restricted cash at end of period | 1,300.0 | 1,086.3 |
| Non-cash investing and financing activities: | ||
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | $ 138.1 | $ 58.8 |
Condensed Consolidated Balance Sheets - USD ($) $ in Millions |
Mar. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | $ 1,289.4 | $ 1,224.3 |
| Short-term investments | 268.7 | 160.3 |
| Accounts receivable, net of allowances | 918.4 | 1,163.3 |
| Inventory | 824.7 | 830.1 |
| Prepaid expenses and other current assets | 436.1 | 467.6 |
| Total current assets | 3,737.3 | 3,845.6 |
| Property and equipment, net | 674.6 | 680.2 |
| Operating lease assets | 286.9 | 160.2 |
| Long-term investments | 412.3 | 385.4 |
| Purchased intangible assets, net | 32.1 | 42.6 |
| Goodwill | 3,734.4 | 3,734.3 |
| Other long-term assets | 1,211.2 | 1,159.7 |
| Total assets | 10,088.8 | 10,008.0 |
| Current liabilities: | ||
| Accounts payable | 219.3 | 256.5 |
| Accrued compensation | 217.7 | 357.8 |
| Deferred revenue | 1,283.0 | 1,228.4 |
| Short-term portion of long-term debt | 399.6 | 399.4 |
| Other accrued liabilities | 386.9 | 399.9 |
| Total current liabilities | 2,506.5 | 2,642.0 |
| Long-term debt | 1,228.9 | 1,215.7 |
| Long-term deferred revenue | 1,033.4 | 1,013.6 |
| Long-term income taxes payable | 89.6 | 83.5 |
| Long-term operating lease liabilities | 270.9 | 135.5 |
| Other long-term liabilities | 130.4 | 133.5 |
| Total liabilities | 5,259.7 | 5,223.8 |
| Commitments and contingencies (Note 13) | ||
| Stockholders' equity: | ||
| Preferred stock, $0.00001 par value; 10.0 shares authorized; none issued and outstanding | 0.0 | 0.0 |
| Common stock, $0.00001 par value; 1,000.0 shares authorized; 334.3 shares and 332.6 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively | 0.0 | 0.0 |
| Additional paid-in capital | 6,791.0 | 6,810.2 |
| Accumulated other comprehensive income (loss) | 5.9 | (5.6) |
| Accumulated deficit | (1,967.8) | (2,020.4) |
| Total stockholders' equity | 4,829.1 | 4,784.2 |
| Total liabilities and stockholders' equity | $ 10,088.8 | $ 10,008.0 |