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: 2013 | |||
Consolidated Statements of Income | |||
Period Ending Nov 2, 2013 10-K (Filed: Nov 26, 2013) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 2, 2013 | Nov 3, 2012 | Oct 29, 2011 | |
| Revenue | |||
| Revenue | $ 2,633,689 | 2,701,142 | 2,993,320 |
| Costs and Expenses | |||
| Cost of sales | 941,278 | 960,141 | 1,006,779 |
| Gross margin | 1,692,411 | 1,741,001 | 1,986,541 |
| Operating expenses: | |||
| Research and development | 513,255 [1] | 512,003 | 505,570 |
| Selling, marketing, general and administrative | 396,233 | 396,519 | 406,707 |
| Special charges | 29,848 | 8,431 | 2,239 |
| Total operating expenses | 939,336 | 916,953 | 914,516 |
| Operating income from continuing operations | 753,075 | 824,048 | 1,072,025 |
| Nonoperating (income) expenses: | |||
| Interest expense | 27,102 | 26,422 | 19,146 |
| Interest income | (12,753) | (14,448) | (9,060) |
| Other, net | (76,597) | (1,459) | 492 |
| Total nonoperating (income) expense | (62,248) | 10,515 | 10,578 |
| Earnings | |||
| Income from continuing operations before income taxes | 815,323 | 813,533 | 1,061,447 |
| Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
| Provision for income taxes | 141,836 | 162,297 | 200,553 |
| Deferred | (17,699) | (9,801) | 1,704 |
| Payable currently | 159,535 | 172,098 | 198,849 |
| Income from continuing operations, net of tax | 673,487 | 651,236 | 860,894 |
| Discontinued operations, net of tax: | |||
| Gain on sale of discontinued operations | 0 | 0 | 6,500 |
| Net income | 673,487 | 651,236 | 867,394 |
| Shares used to compute earnings per share - Basic (in shares) | 307,763 | 298,761 | 299,417 |
| Shares used to compute earnings per share - Diluted (in shares) | 314,041 | 306,191 | 308,236 |
| Earnings per share - Basic (in dollars per share) | |||
| Income from continuing operations, net of tax | 2.19 | 2.18 | 2.88 |
| Net income | 2.19 | 2.18 | 2.90 |
| Earnings per share - Diluted (in dollars per share) | |||
| Income from continuing operations, net of tax | 2.14 | 2.13 | 2.79 |
| Net income | 2.14 | 2.13 | 2.81 |
| Dividends declared and paid per share | 1.32 | 1.15 | 0.94 |
| Includes stock-based compensation expense as follows: | |||
| Income Statement Location | |||
| Cost of sales | |||
| Stock-based compensation expense | 6,593 | 7,254 | 7,294 |
| Research and development | |||
| Stock-based compensation expense | 21,901 | 23,169 | 23,289 |
| Selling, marketing, general and administrative | |||
| Stock-based compensation expense | 28,392 | 23,077 | 21,775 |
| [1] Includes stock-based compensation expense as follows: | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2013 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Nov 2, 2013 10-K (Filed: Nov 26, 2013) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 2, 2013 | Nov 3, 2012 | Oct 29, 2011 | |
| Income from continuing operations, net of tax | $ 673,487 | 651,236 | 860,894 |
| Foreign currency translation adjustment | (499) | 3,020 | (647) |
| Net unrealized (losses) gains on securities: | |||
| Net unrealized holding gains (losses) (net of taxes) on available-for-sale securities classified as short-term investments | 497 | 525 | (459) |
| Net unrealized holding (losses) gains (net of taxes) on securities classified as other investments | 0 | 241 | (118) |
| Net realized gain on securites classified as other investmetns reclassified into earnings | 0 | (799) | 0 |
| Net unrealized (losses) gains on securities | 497 | (33) | (577) |
| Derivative instruments designated as cash flow hedges: | |||
| Changes in fair value of derivatives (net of taxes) | 9,708 | (7,923) | 3,347 |
| Realized loss (gain) reclassification (net of taxes) | (1,776) | 7,401 | (7,793) |
| Net change in derivative instruments designated as cash flow hedges | 7,932 | (522) | (4,446) |
| Accumulated other comprehensive (loss) income - pension plans: | |||
| Transition asset (obligation) (net of taxes) | 20 | 15 | 12 |
| Net actuarial (loss) gain (net of taxes) | (24,099) | (44,784) | 13,084 |
| Net prior service income (net of taxes) | (3) | 4,079 | 0 |
| Net change in accumulated other comprehensive (loss) income - pension plans (net of taxes) | (24,082) | (40,690) | 13,096 |
| Other comprehensive (loss) income | (16,152) | (38,225) | 7,426 |
| Comprehensive income from continuing operations | 657,335 | 613,011 | 868,320 |
| Gain on sale of discontinued operations, net of tax | 0 | 0 | 6,500 |
| Comprehensive income | 657,335 | 613,011 | 874,820 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2013 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Nov 2, 2013 10-K (Filed: Nov 26, 2013) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 2, 2013 | Nov 3, 2012 | Oct 29, 2011 | |
| Cash flows from operating activities: | |||
| Net income | $ 673,487 | 651,236 | 867,394 |
| Adjustments to reconcile net income to net cash provided by operations: | |||
| Depreciation | 110,196 | 109,705 | 116,873 |
| Amortization of intangibles | 220 | 128 | 1,346 |
| Stock-based compensation expense | 56,886 | 53,500 | 52,358 |
| Gain on sale of business | 0 | 0 | (6,500) |
| Gain on sale of investments | 0 | (1,231) | 0 |
| Gain on Sale of Product Line | (85,444) | 0 | 0 |
| Gains (Losses) on Extinguishment of Debt | 10,205 | 0 | 0 |
| Non-cash portion of special charges | 0 | 219 | 0 |
| Other non-cash activity | (185) | (3,187) | 833 |
| Excess tax benefit - stock options | (16,171) | (12,230) | (44,936) |
| Deferred income taxes | (17,699) | (9,801) | 1,704 |
| Change in operating assets and liabilities: | |||
| Accounts receivable | 12,377 | 5,774 | 40,025 |
| Inventories | 28,527 | (18,592) | (17,603) |
| Prepaid expenses and other current assets | 4,660 | 8,471 | 822 |
| Deferred compensation plan investments | 11,116 | (2,070) | (17,720) |
| Prepaid income tax | 6,124 | 13,319 | (16,681) |
| Accounts payable, deferred income and accrued liabilities | 17,487 | 60 | (90,323) |
| Deferred compensation plan liability | (11,116) | 2,052 | 17,738 |
| Income taxes payable | 50,705 | 25,930 | 893 |
| Other liabilities | 60,970 | (8,741) | (5,694) |
| Total adjustments | 238,858 | 163,306 | 33,135 |
| Net cash provided by operating activities | 912,345 | 814,542 | 900,529 |
| Cash flows from investing: | |||
| Purchases of short-term available-for-sale investments | (8,540,335) | (8,165,043) | (4,289,304) |
| Maturities of short-term available-for-sale investments | 6,970,885 | 6,543,795 | 3,436,284 |
| Sales of short-term available-for-sale investments | 650,730 | 437,748 | 282,861 |
| Additions to property, plant and equipment, net | (123,074) | (132,176) | (122,996) |
| Net proceeds related to sale of businesses | 0 | 0 | 10,000 |
| Proceeds related to sale of investments | 0 | 1,506 | 0 |
| Proceeds from Divestiture of Businesses | 100,000 | 0 | 0 |
| Payments for acquisitions, net of cash acquired | (2,475) | (24,158) | (13,988) |
| (Increase) decrease in other assets | (5,657) | (1,362) | (6,595) |
| Net cash used for investing activities | (949,926) | (1,339,690) | (703,738) |
| Cash flows from financing activities: | |||
| Proceeds from long-term debt | 493,880 | 0 | 515,507 |
| Early termination of swap agreements | 0 | 18,520 | 0 |
| ProceedsFromDerivativeInstruments | 10,952 | 0 | 0 |
| Payment of senior unsecured notes | (392,790) | 0 | 0 |
| Term Loan Repayments | (60,108) | (56,500) | (28,392) |
| Dividend payments to shareholders | (405,955) | (344,701) | (281,626) |
| Repurchase of common stock | (60,529) | (161,046) | (330,489) |
| Net proceeds from employee stock plans | 306,277 | 191,730 | 217,397 |
| Contingent consideration payment | (5,665) | (1,991) | 0 |
| (Decrease) Increase in other financing activities | (2,790) | (7,869) | 1,279 |
| Excess tax benefit - stock options | 16,171 | 12,230 | 44,936 |
| Net cash (used for) provided by financing activities | (100,557) | (349,627) | 138,612 |
| Effect of exchange rate changes on cash | 1,394 | (1,492) | (303) |
| Net (decrease) increase in cash and cash equivalents | (136,744) | (876,267) | 335,100 |
| Cash and cash equivalents at beginning of year | 528,833 | 1,405,100 | |
| Cash and cash equivalents at end of year | 392,089 | 528,833 | |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ANALOG DEVICES INC | ||
Ticker: ADI Fiscal Year: 2013 | ||
Consolidated Balance Sheets | ||
Period Ending Nov 2, 2013 10-K (Filed: Nov 26, 2013) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Nov 2, 2013 | Nov 3, 2012 | |
| Assets | ||
| Current Assets | ||
| Cash and cash equivalents | $ 392,089 | 528,833 |
| Short-term investments | 4,290,823 | 3,371,545 |
| Accounts receivable less allowances | 325,144 | 339,881 |
| Inventories | 283,337 [1] | 313,723 |
| Deferred tax assets | 136,299 | 90,335 |
| Prepaid income tax | 2,391 | 8,624 |
| Prepaid expenses and other current assets | 42,342 | 43,244 |
| Total current assets | 5,472,425 | 4,696,185 |
| Property, Plant and Equipment, at Cost | ||
| Land and buildings | 458,853 | 447,818 |
| Machinery and equipment | 1,733,850 | 1,681,661 |
| Office equipment | 49,321 | 50,042 |
| Leasehold improvements | 50,870 | 48,630 |
| Property, plant and equipment, at cost | 2,292,894 | 2,228,151 |
| Less accumulated depreciation and amortization | 1,784,723 | 1,727,284 |
| Net property, plant and equipment | 508,171 | 500,867 |
| Other Assets | ||
| Deferred compensation plan investments | 17,364 | 28,426 |
| Other investments | 3,816 | 1,816 |
| Goodwill | 284,112 | 283,833 |
| Intangible assets, net | 28,552 | 28,772 |
| Deferred tax assets | 26,226 | 43,531 |
| Other assets | 41,084 | 36,917 |
| Total other assets | 401,154 | 423,295 |
| Total assets | 6,381,750 | 5,620,347 |
| Liabilities and Shareholders' Equity | ||
| Current Liabilities | ||
| Accounts payable | 119,994 | 117,034 |
| Deferred income on shipments to distributors, net | 247,428 | 238,541 |
| Income taxes payable | 45,490 | 6,097 |
| Current portion of long-term debt | 0 | 14,500 |
| Accrued liabilities | 157,600 | 148,907 |
| Total current liabilities | 570,512 | 525,079 |
| Non-current Liabilities | ||
| Long-term debt | 872,241 | 807,098 |
| Deferred income taxes | 6,037 | 1,130 |
| Deferred compensation plan liability | 17,364 | 28,426 |
| Other non-current liabilities | 176,020 | 93,255 |
| Total non-current liabilities | 1,071,662 | 929,909 |
| Commitments and contingencies (Note 12) | ||
| Shareholders' Equity | ||
| Preferred stock, $1.00 par value, 471,934 shares authorized, none outstanding | 0 | 0 |
| Common stock, $0.16 2/3 par value, 1,200,000,000 shares authorized, 311,045,084 shares issued and outstanding (301,389,176 on November 3, 2012) | 51,842 | 50,233 |
| Capital in excess of par value | 711,879 | 390,651 |
| Retained earnings | 4,056,401 | 3,788,869 |
| Accumulated other comprehensive loss | (80,546) | (64,394) |
| Total shareholders' equity | 4,739,576 | 4,165,359 |
| Liabilities and Shareholders' Equity | 6,381,750 | 5,620,347 |
| [1] Includes $2,273 and $2,517 related to stock-based compensation at November 2, 2013 and November 3, 2012, respectively. | ||
| External Links | |
| ANALOG DEVICES INC (ADI) Fiscal Year 2013 | |
| 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 |