10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2009 | |||
Consolidated Statements of Income | |||
Period Ending Oct 31, 2009 10-K (Filed: Nov 24, 2009) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 31, 2009 | Nov 1, 2008 | Nov 3, 2007 | |
| Revenue | |||
| Product revenue | $ 2,014,908 | 2,582,931 | 2,429,721 |
| Revenue from one-time IP license | 0 | 0 | 35,000 |
| Total revenue | 2,014,908 | 2,582,931 | 2,464,721 |
| Costs and Expenses | |||
| Cost of sales | 896,271 | 1,005,656 | 956,445 [1] |
| Gross margin | 1,118,637 | 1,577,275 | 1,508,276 |
| Operating expenses: | |||
| Research and development | 446,980 | 533,480 | 509,553 |
| Selling, marketing, general and administrative | 333,184 | 415,682 | 389,505 |
| Special charges | 53,656 | 3,088 | 40,495 |
| Total operating expenses | 833,820 | 952,250 | 939,553 |
| Operating income from continuing operations | 284,817 | 625,025 | 568,723 |
| Nonoperating (income) expenses: | |||
| Interest expense | 4,094 | 0 | 0 |
| Interest income | (15,621) | (41,041) | (77,007) |
| Other, net | (1,100) | (36) | (15,727) |
| Total nonoperating (income) expenses | (12,627) | (41,077) | (92,734) |
| Earnings | |||
| Income from continuing operations before income taxes and minority interest | 297,444 | 666,102 | 661,457 |
| Provision for income taxes: | |||
| Payable currently | 38,441 | 152,294 | 162,403 |
| Deferred | 11,595 | (11,369) | (2,850) |
| Total provision for income taxes | 50,036 | 140,925 | 159,553 |
| Minority interest | 0 | 0 | 219 |
| Income from continuing operations, net of tax | 247,408 | 525,177 | 502,123 |
| Discontinued operations, net of tax: | |||
| Income (loss) from discontinued operations | 364 | 12,779 | (5,216) |
| Gain on sale of discontinued operations | 0 | 248,328 | 0 |
| Total income (loss) from discontinued operations, net of tax | 364 | 261,107 | (5,216) |
| Net income | 247,772 | 786,284 | 496,907 |
| Shares used to compute earnings per share - Basic | 291,385 | 292,688 | 323,255 |
| Shares used to compute earnings per share - Diluted | 292,698 | 297,110 | 332,301 |
| Earnings per share - Basic | |||
| Income from continuing operations, net of tax | 0.85 | 1.79 | 1.55 |
| Net income | 0.85 | 2.69 | 1.54 |
| Earnings per share - Diluted | |||
| Income from continuing operations, net of tax | 0.85 | 1.77 | 1.51 |
| Net income | 0.85 | 2.65 | 1.50 |
| Dividends declared per share | 0.80 | 0.76 | 0.70 |
| Includes stock-based compensation expense as follows: | |||
| Cost of sales | 7,469 | 7,806 | 10,591 |
| Research and development | 22,666 | 23,768 | 29,347 |
| Selling, marketing, general and administrative | 18,478 | 20,970 | 27,329 |
| [1] Includes stock-based compensation expense. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2009 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Oct 31, 2009 10-K (Filed: Nov 24, 2009) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 31, 2009 | Nov 1, 2008 | Nov 3, 2007 | |
| Income from continuing operations, net of tax | $ 247,408 | 525,177 | 502,123 |
| Foreign currency translation adjustment | 14,840 | (42,370) | 10,640 |
| Net unrealized (losses) gains on securities: | |||
| Net unrealized holding (losses) gains (net of taxes of $347 in 2009, $372 in 2008 and $2,746 in 2007) on securities classified as short-term investments | (2,456) | 2,508 | 5,094 |
| Net unrealized holding gains (losses) (net of taxes of $197 in 2009, $217 in 2008 and $100 in 2007) on securities classified as other investments | 366 | 400 | (185) |
| Net unrealized (losses) gains on securities | (2,090) | 2,908 | 4,909 |
| Derivative instruments designated as cash flow hedges: | |||
| Changes in fair value of derivatives (net of taxes of $5,496 in 2009, $1,622 in 2008 and $846 in 2007) | 35,529 | (10,663) | 5,282 |
| Realized (gain) loss reclassification (net of taxes of $1,609 in 2009, $2,420 in 2008 and $107 in 2007) | (9,657) | (15,912) | 665 |
| Net change in derivative instruments designated as cash flow hedges | 25,872 | (26,575) | 5,947 |
| Minimum pension liability adjustment (net of taxes of $0 in 2009, $0 in 2008 and $640 in 2007) | 0 | 0 | 1,495 |
| Accumulated other comprehensive (loss) income - pension plans: | |||
| Transition obligation (net of taxes of $1 in 2009 and $4 in 2008) | (34) | (43) | 0 |
| Net actuarial loss (net of taxes of $287 in 2009 and $1,971 in 2008) | (663) | (15,197) | 0 |
| Net prior service income (net of taxes of $1 in 2009 and $4 in 2008) | 5 | 8 | 0 |
| Net change in accumulated other comprehensive loss- pension plans (net of taxes of $286 in 2009 and $1,963 in 2008) | (692) | (15,232) | 0 |
| Other comprehensive income (loss) | 37,930 | (81,269) | 22,991 |
| Comprehensive income from continuing operations | 285,338 | 443,908 | 525,114 |
| Total income (loss) from discontinued operations, net of tax | 364 | 261,107 | (5,216) |
| Comprehensive income | 285,702 | 705,015 | 519,898 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2009 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Oct 31, 2009 10-K (Filed: Nov 24, 2009) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 31, 2009 | Nov 1, 2008 | Nov 3, 2007 | |
| Operations | |||
| Cash flows from operating activities: | |||
| Net income | $ 247,772 | 786,284 | 496,907 |
| Adjustments to reconcile net income to net cash provided by operations: | |||
| Depreciation | 132,493 | 144,222 | 142,173 |
| Amortization of intangibles | 7,377 | 9,250 | 12,610 |
| Stock-based compensation expense | 48,613 | 50,247 | 72,652 |
| Gain on sale of business | 0 | (248,328) | 0 |
| Gain on sale of investments | 0 | 0 | (7,919) |
| Minority interest | 0 | 0 | (219) |
| Non-cash portion of special charges | 15,468 | 0 | 438 |
| Other non-cash activity | 1,663 | 310 | 853 |
| Excess tax benefit - stock options | (20) | (18,586) | (40,871) |
| Deferred income taxes | 11,595 | (11,369) | (2,850) |
| Change in operating assets and liabilities: | |||
| Decrease (increase) in accounts receivable | 16,561 | 48,903 | (27,011) |
| Decrease in inventories | 67,347 | 16,784 | 16,549 |
| Decrease in prepaid expenses and other current assets | 731 | 6,557 | 34,890 |
| Decrease (increase) in deferred compensation plan investments | 24,097 | 4,401 | (4,755) |
| (Decrease) increase in accounts payable, deferred income and accrued liabilities | (100,064) | (60,736) | 53,693 |
| (Decrease) increase in deferred compensation plan liability | (24,801) | (3,811) | 4,811 |
| Income tax payments related to gain on sale of businesses | (4,105) | (110,401) | 0 |
| (Decrease) increase in income taxes payable | (24,909) | 41,443 | 53,119 |
| Increase in other liabilities | 12,330 | 14,198 | 15,295 |
| Total adjustments | 184,376 | (116,916) | 323,458 |
| Net cash provided by operating activities | 432,148 | 669,368 | 820,365 |
| Investing Activities | |||
| Cash flows from investing: | |||
| Purchases of short-term available-for-sale investments | (2,787,141) | (1,831,363) | (1,807,476) |
| Maturities of short-term available-for-sale investments | 2,324,181 | 1,774,391 | 2,943,468 |
| Additions to property, plant and equipment, net | (56,095) | (157,408) | (141,810) |
| Proceeds from sale of investment | 0 | 0 | 8,003 |
| Net (expenditures) proceeds from sale of businesses | (1,653) | 403,181 | 0 |
| Payments for acquisitions | (8,360) | (3,146) | (9,160) |
| (Increase) decrease in other assets | (5,661) | 2,708 | (8,438) |
| Net cash (used) provided by investing activities | (534,729) | 188,363 | 984,587 |
| Financing Activities | |||
| Cash flows from financing activities: | |||
| Proceeds from issuance of long-term debt | 370,350 | 0 | 0 |
| Dividend payments to shareholders | (232,988) | (222,530) | (228,281) |
| Repurchase of common stock | (3,762) | (569,853) | (1,647,212) |
| Net proceeds from employee stock plans | 12,377 | 94,155 | 109,149 |
| Other financing activities | 0 | (366) | 0 |
| Excess tax benefit - stock options | 20 | 18,586 | 40,871 |
| Net cash provided (used) by financing activities | 145,997 | (680,008) | (1,725,473) |
| Effect of exchange rate changes on cash | 2,714 | (9,096) | 1,546 |
| Net increase in cash and cash equivalents | 46,130 | 168,627 | 81,025 |
| Cash and cash equivalents at beginning of year | 593,599 | 424,972 | |
| Cash and cash equivalents at end of year | 639,729 | 593,599 | 424,972 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ANALOG DEVICES INC | ||
Ticker: ADI Fiscal Year: 2009 | ||
Consolidated Balance Sheets | ||
Period Ending Oct 31, 2009 10-K (Filed: Nov 24, 2009) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Oct 31, 2009 | Nov 1, 2008 | |
| Assets | ||
| Current Assets | ||
| Cash and cash equivalents | $ 639,729 | 593,599 |
| Short-term investments | 1,176,244 | 716,087 |
| Accounts receivable less allowances of $1,681 ($5,501 in 2008) | 301,036 | 315,290 |
| Inventories | 253,161 | 314,629 [1] |
| Deferred tax assets | 78,740 | 102,676 |
| Deferred compensation plan investments | 1,363 | 942 |
| Prepaid expenses and other current assets | 40,363 | 40,460 |
| Current assets of discontinued operations | 0 | 5,894 |
| Total current assets | 2,490,636 | 2,089,577 |
| Property, Plant and Equipment, at Cost | ||
| Land and buildings | 395,151 | 378,187 |
| Machinery and equipment | 1,511,822 | 1,512,984 |
| Office equipment | 56,294 | 63,071 |
| Leasehold improvements | 66,847 | 65,247 |
| Property, plant and equipment, gross | 2,030,114 | 2,019,489 |
| Less accumulated depreciation and amortization | 1,553,598 | 1,452,050 |
| Net property, plant and equipment | 476,516 | 567,439 |
| Other Assets | ||
| Deferred compensation plan investments | 6,580 | 31,099 |
| Other investments | 1,485 | 955 |
| Goodwill | 250,881 | 235,175 |
| Intangible assets, net | 6,855 | 12,300 |
| Deferred tax assets | 73,646 | 65,949 |
| Other assets | 35,658 | 26,461 |
| Non-current assets of discontinued operations | 62,037 | 62,037 |
| Total other assets | 437,142 | 433,976 |
| Total assets | 3,404,294 | 3,090,992 |
| Liabilities and Shareholders' Equity | ||
| Current Liabilities | ||
| Accounts payable | 107,334 | 130,451 |
| Deferred income on shipments to distributors | 149,278 | 175,358 |
| Income taxes payable | 6,445 | 52,546 |
| Deferred compensation plan liability | 1,363 | 942 |
| Accrued liabilities | 122,193 | 191,307 |
| Current liabilities of discontinued operations | 0 | 18,454 |
| Total current liabilities | 386,613 | 569,058 |
| Noncurrent Liabilities | ||
| Long-term debt | 379,626 | 0 |
| Deferred income taxes | 36,232 | 14,310 |
| Deferred compensation plan liability | 6,577 | 31,800 |
| Other noncurrent liabilities | 66,097 | 55,561 |
| Total noncurrent liabilities | 488,532 | 101,671 |
| Commitments and contingencies | ||
| Shareholders' Equity | ||
| Preferred stock, $1.00 par value, 471,934 shares authorized, none outstanding | 0 | 0 |
| Common stock, $0.162/3 par value, 1,200,000,000 shares authorized, 291,861,767 shares issued and outstanding (291,193,451 on November 1, 2008) | 48,645 | 48,533 |
| Retained earnings | 2,490,752 | 2,419,908 |
| Accumulated other comprehensive loss | (10,248) | (48,178) |
| Total shareholders' equity | 2,529,149 | 2,420,263 |
| Total liabilities and shareholders' equity | 3,404,294 | 3,090,992 |
| [1] Includes $2,718 and $2,632 related to stock-based compensation at October 31, 2009 and November 1, 2008, respectively. | ||
| External Links | |
| ANALOG DEVICES INC (ADI) Fiscal Year 2009 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |