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: 2015 | |||
Consolidated Statements of Income | |||
Period Ending Oct 31, 2015 10-K (Filed: Nov 24, 2015) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 31, 2015 | Nov 1, 2014 | Nov 2, 2013 | |
| Revenue | |||
| Revenue | $ 3,435,092 | 2,864,773 | 2,633,689 |
| Costs and Expenses | |||
| Cost of sales | 1,175,830 | 1,034,585 | 941,278 [1] |
| Gross margin | 2,259,262 | 1,830,188 | 1,692,411 |
| Operating expenses: | |||
| Research and development | 637,459 | 559,686 | 513,035 |
| Selling, marketing, general and administrative | 478,972 | 454,676 | 396,233 |
| Amortization of intangible Assets Operating Expenses | 88,318 | 26,020 | 220 |
| Special charges | 0 | 37,322 | 29,848 |
| Other Selling, General and Administrative Expense | 223,672 | 0 | 0 |
| Total operating expenses | 1,428,421 | 1,077,704 | 939,336 |
| Operating income from continuing operations | 830,841 | 752,484 | 753,075 |
| Nonoperating (income) expenses: | |||
| Interest expense | 27,030 | 34,784 | 27,102 |
| Interest income | (8,625) | (12,173) | (12,753) |
| Other, net | 2,322 | 528 | (76,597) |
| Total nonoperating (income) expense | 20,727 | 23,139 | (62,248) |
| Earnings | |||
| Income from continuing operations before income taxes | 810,114 | 729,345 | 815,323 |
| Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
| Provision for income taxes | 113,236 | 100,025 | 141,836 |
| Deferred | (52,214) | (77,711) | (17,699) |
| Payable currently | 165,450 | 177,736 | 159,535 |
| Income from continuing operations, net of tax | 696,878 | 629,320 | 673,487 |
| Net income | 696,878 | 629,320 | 673,487 |
| Shares used to compute earnings per share - Basic (in shares) | 312,660 | 313,195 | 307,763 |
| Shares used to compute earnings per share - Diluted (in shares) | 316,872 | 318,027 | 314,041 |
| Earnings per share - Basic (in dollars per share) | |||
| Income from continuing operations, net of tax | 2.23 | 2.01 | 2.19 |
| Earnings per share - Diluted (in dollars per share) | |||
| Income from continuing operations, net of tax | 2.20 | 1.98 | 2.14 |
| Dividends declared and paid per share | 1.57 | 1.45 | 1.32 |
| Includes stock-based compensation expense as follows: | |||
| Income Statement Location | |||
| Cost of sales | |||
| Stock-based compensation expense | 8,983 | 7,069 | 6,593 |
| Research and development | |||
| Stock-based compensation expense | 26,617 | 20,707 | 21,901 |
| Selling, marketing, general and administrative | |||
| Stock-based compensation expense | 33,319 | 23,036 | 28,392 |
| [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: 2015 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Oct 31, 2015 10-K (Filed: Nov 24, 2015) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 31, 2015 | Nov 1, 2014 | Nov 2, 2013 | |
| Income from continuing operations, net of tax | $ 696,878 | 629,320 | 673,487 |
| Foreign currency translation adjustment | (12,925) | (5,615) | (499) |
| Net unrealized (losses) gains on securities: | |||
| Net unrealized holding gains (losses) (net of taxes) on available-for-sale securities classified as short-term investments | (540) | (306) | 497 |
| Net unrealized (losses) gains on securities | (540) | (306) | 497 |
| Derivative instruments designated as cash flow hedges: | |||
| Changes in fair value of derivatives (net of taxes) | (28,798) | (9,350) | 9,708 |
| Realized loss (gain) reclassification (net of taxes) | 10,447 | 912 | (1,776) |
| Net change in derivative instruments designated as cash flow hedges | (18,351) | (8,438) | 7,932 |
| Accumulated other comprehensive (loss) income - pension plans: | |||
| Transition asset (obligation) (net of taxes) | 19 | 22 | 20 |
| Net actuarial (loss) gain (net of taxes) | 153,953 | (74,049) | (24,099) |
| Net prior service income (net of taxes) | (4,481) | 406 | (3) |
| Net change in accumulated other comprehensive (loss) income - pension plans (net of taxes) | 149,491 | (73,621) | (24,082) |
| Other comprehensive (loss) income | 117,675 | (87,980) | (16,152) |
| Comprehensive income from continuing operations | 814,553 | 541,340 | 657,335 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2015 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Oct 31, 2015 10-K (Filed: Nov 24, 2015) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 31, 2015 | Nov 1, 2014 | Nov 2, 2013 | |
| Cash flows from operating activities: | |||
| Net income | $ 696,878 | 629,320 | 673,487 |
| Adjustments to reconcile net income to net cash provided by operations: | |||
| Depreciation | 130,147 | 114,064 | 110,196 |
| Amortization of intangibles | 92,093 | 27,906 | 220 |
| Stock-based compensation expense | 68,919 | 50,812 | 56,886 |
| Net Gain on Sale of Product line | 0 | 0 | 85,444 |
| Gains (Losses) on Extinguishment of Debt | 0 | 0 | 10,205 |
| Other non-cash activity | 6,974 | 4,423 | (185) |
| Excess tax benefit - stock options | (25,045) | (22,231) | (16,171) |
| Deferred income taxes | (52,214) | (77,711) | (17,699) |
| Change in operating assets and liabilities: | |||
| Accounts receivable | (71,198) | (36,460) | 12,377 |
| Inventories | (35,557) | 24,642 | 28,527 |
| Prepaid expenses and other current assets | 2,861 | (5,354) | 4,660 |
| Deferred compensation plan investments | (2,643) | (3,746) | 11,116 |
| Prepaid income tax | 4,546 | 10,499 | 6,124 |
| Accounts payable, deferred income and accrued liabilities | 56,614 | 58,373 | 17,487 |
| Deferred compensation plan liability | 2,643 | 3,746 | (11,116) |
| Income taxes payable | 25,060 | 96,536 | 50,705 |
| Other liabilities | 7,720 | (3,217) | 60,970 |
| Total adjustments | 210,920 | 242,282 | 238,858 |
| Net cash provided by operating activities | 907,798 | 871,602 | 912,345 |
| Cash flows from investing: | |||
| Purchases of short-term available-for-sale investments | (6,083,999) | (7,485,162) | (8,540,335) |
| Maturities of short-term available-for-sale investments | 4,984,980 | 7,318,877 | 6,970,885 |
| Sales of short-term available-for-sale investments | 1,251,194 | 2,187,389 | 650,730 |
| Additions to property, plant and equipment, net | (153,960) | (177,913) | (123,074) |
| Proceeds from Divestiture of Businesses | 0 | 0 | 100,000 |
| Payments for acquisitions, net of cash acquired | (7,065) | (1,945,887) | (2,475) |
| (Increase) decrease in other assets | (8,275) | (12,055) | (5,657) |
| Net cash used for investing activities | (17,125) | (114,751) | (949,926) |
| Cash flows from financing activities: | |||
| Proceeds from long-term debt | 0 | 1,995,398 | 493,880 |
| ProceedsFromDerivativeInstruments | 0 | 0 | 10,952 |
| Payment of senior unsecured notes | 0 | 0 | (392,790) |
| Term Loan Repayments | 0 | (1,995,398) | (60,108) |
| Dividend payments to shareholders | (491,059) | (454,225) | (405,955) |
| Repurchase of common stock | (226,953) | (356,346) | (60,529) |
| Net proceeds from employee stock plans | 122,631 | 200,114 | 306,277 |
| Contingent consideration payment | (1,767) | (3,576) | (5,665) |
| (Decrease) Increase in other financing activities | 500 | 15,192 | (2,790) |
| Excess tax benefit - stock options | 25,045 | 22,231 | 16,171 |
| Net cash (used for) provided by financing activities | (571,603) | (576,610) | (100,557) |
| Effect of exchange rate changes on cash | (3,950) | (3,097) | 1,394 |
| Net (decrease) increase in cash and cash equivalents | 315,120 | 177,144 | (136,744) |
| Cash and cash equivalents at beginning of year | 569,233 | 392,089 | |
| Cash and cash equivalents at end of year | 884,353 | 569,233 | 392,089 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ANALOG DEVICES INC | ||
Ticker: ADI Fiscal Year: 2015 | ||
Consolidated Balance Sheets | ||
Period Ending Oct 31, 2015 10-K (Filed: Nov 24, 2015) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Oct 31, 2015 | Nov 1, 2014 | |
| Amount Related To Stock Based Compensation | $ 2,923 | 3,291 |
| Assets | ||
| Current Assets | ||
| Cash and cash equivalents | 884,353 | 569,233 |
| Short-term investments | 2,144,575 | 2,297,235 |
| Accounts receivable less allowances | 466,527 | 396,605 |
| Inventories | 412,314 | 367,927 [1] |
| Deferred tax assets | 129,241 | 128,934 |
| Prepaid income tax | 1,941 | 6,633 |
| Prepaid expenses and other current assets | 40,597 | 45,319 |
| Total current assets | 4,079,548 | 3,811,886 |
| Property, Plant and Equipment, at Cost | ||
| Land and buildings | 559,660 | 495,738 |
| Machinery and equipment | 1,932,727 | 1,880,351 |
| Office equipment | 54,099 | 51,477 |
| Leasehold improvements | 55,609 | 50,782 |
| Property, plant and equipment, at cost | 2,602,095 | 2,478,348 |
| Less accumulated depreciation and amortization | 1,957,985 | 1,855,926 |
| Net property, plant and equipment | 644,110 | 622,422 |
| Other Assets | ||
| Deferred compensation plan investments | 23,753 | 21,110 |
| Other investments | 17,482 | 13,397 |
| Goodwill | 1,636,526 | 1,642,438 |
| Intangible assets, net | 583,517 | 671,402 |
| Deferred tax assets | 33,280 | 27,249 |
| Other assets | 43,962 | 49,786 |
| Total other assets | 2,338,520 | 2,425,382 |
| Total assets | 7,062,178 | 6,859,690 |
| Liabilities and Shareholders' Equity | ||
| Current Liabilities | ||
| Accounts payable | 174,247 | 138,967 |
| Deferred income on shipments to distributors, net | 300,087 | 278,435 |
| Income taxes payable | 15,062 | 62,770 |
| Debt, current | 374,839 | 0 |
| Accrued liabilities | 249,595 | 228,884 |
| Total current liabilities | 1,113,830 | 709,056 |
| Non-current Liabilities | ||
| Long-term debt | 498,497 | 872,789 |
| Deferred income taxes | 227,376 | 235,791 |
| Deferred compensation plan liability | 23,753 | 21,110 |
| Other non-current liabilities | 125,763 | 263,047 |
| Total non-current liabilities | 875,389 | 1,392,737 |
| 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, 311,204,926 shares issued and outstanding (311,045,084 on November 2, 2013) | 52,011 | 51,869 |
| Capital in excess of par value | 634,484 | 643,058 |
| Retained earnings | 4,437,315 | 4,231,496 |
| Accumulated other comprehensive loss | (50,851) | (168,526) |
| Total shareholders' equity | 5,072,959 | 4,757,897 |
| Liabilities and Shareholders' Equity | 7,062,178 | 6,859,690 |
| [1] Includes $2,923 and $3,291 related to stock-based compensation at October 31, 2015 and November 1, 2014, respectively. | ||
| External Links | |
| ANALOG DEVICES INC (ADI) Fiscal Year 2015 | |
| 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 |