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: 2016 | |||
Consolidated Statements of Income | |||
Period Ending Oct 29, 2016 10-K (Filed: Nov 22, 2016) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 29, 2016 | Oct 31, 2015 | Nov 1, 2014 | |
| Revenue | |||
| Revenue | $ 3,421,409 | 3,435,092 | 2,864,773 |
| Costs and Expenses | |||
| Cost of sales | 1,194,236 | 1,175,830 | 1,034,585 |
| Gross margin | 2,227,173 | 2,259,262 | 1,830,188 |
| Operating expenses: | |||
| Research and development | 653,816 [1] | 637,459 | 559,686 |
| Selling, marketing, general and administrative | 461,438 | 478,972 | 454,676 |
| Amortization of intangible Assets Operating Expenses | 70,123 | 88,318 | 26,020 |
| Special charges | 13,684 | 0 | 37,322 |
| Other Selling, General and Administrative Expense | 0 | 223,672 | 0 |
| Total operating expenses | 1,199,061 | 1,428,421 | 1,077,704 |
| Operating income from continuing operations | 1,028,112 | 830,841 | 752,484 |
| Nonoperating (income) expenses: | |||
| Interest expense | 88,757 | 27,030 | 34,784 |
| Interest income | (21,221) | (8,625) | (12,173) |
| Other, net | 3,655 | 2,322 | 528 |
| Total nonoperating (income) expense | 71,191 | 20,727 | 23,139 |
| Earnings | |||
| Income from continuing operations before income taxes | 956,921 | 810,114 | 729,345 |
| Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
| Provision for income taxes | 95,257 | 113,236 | 100,025 |
| Income from continuing operations, net of tax | 861,664 | 696,878 | 629,320 |
| Net income | 861,664 | 696,878 | 629,320 |
| Shares used to compute earnings per share - Basic (in shares) | 308,736 | 312,660 | 313,195 |
| Shares used to compute earnings per share - Diluted (in shares) | 312,308 | 316,872 | 318,027 |
| Earnings per share - Basic (in dollars per share) | |||
| Income from continuing operations, net of tax | 2.79 | 2.23 | 2.01 |
| Earnings per share - Diluted (in dollars per share) | |||
| Income from continuing operations, net of tax | 2.76 | 2.20 | 1.98 |
| Dividends declared and paid per share | 1.66 | 1.57 | 1.45 |
| Includes stock-based compensation expense as follows: | |||
| Income Statement Location | |||
| Cost of sales | |||
| Stock-based compensation expense | 7,808 | 8,983 | 7,069 |
| Research and development | |||
| Stock-based compensation expense | 27,039 | 26,617 | 20,707 |
| Selling, marketing, general and administrative | |||
| Stock-based compensation expense | 28,574 | 33,319 | 23,036 |
| [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: 2016 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Oct 29, 2016 10-K (Filed: Nov 22, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 29, 2016 | Oct 31, 2015 | Nov 1, 2014 | |
| Income from continuing operations, net of tax | $ 861,664 | 696,878 | 629,320 |
| Foreign currency translation adjustment | (6,006) | (12,925) | (5,615) |
| Net unrealized (losses) gains on securities: | |||
| Net unrealized holding gains (losses) (net of taxes) on available-for-sale securities classified as short-term investments | 847 | (540) | (306) |
| Net unrealized (losses) gains on securities | 847 | (540) | (306) |
| Derivative instruments designated as cash flow hedges: | |||
| Changes in fair value of derivatives (net of taxes) | (4,629) | (28,798) | (9,350) |
| Realized loss (gain) reclassification (net of taxes) | 3,437 | 10,447 | 912 |
| Net change in derivative instruments designated as cash flow hedges | (1,192) | (18,351) | (8,438) |
| Accumulated other comprehensive (loss) income - pension plans: | |||
| Transition asset (obligation) (net of taxes) | 17 | 19 | 22 |
| Net actuarial (loss) gain (net of taxes) | (16,730) | 153,953 | (74,049) |
| Net prior service income (net of taxes) | 101 | (4,481) | 406 |
| Net change in accumulated other comprehensive (loss) income - pension plans (net of taxes) | (16,612) | 149,491 | (73,621) |
| Other comprehensive (loss) income | (22,963) | 117,675 | (87,980) |
| Comprehensive income from continuing operations | 838,701 | 814,553 | 541,340 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2016 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Oct 29, 2016 10-K (Filed: Nov 22, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 29, 2016 | Oct 31, 2015 | Nov 1, 2014 | |
| Cash flows from operating activities: | |||
| Net income | $ 861,664 | 696,878 | 629,320 |
| Adjustments to reconcile net income to net cash provided by operations: | |||
| Depreciation | 134,540 | 130,147 | 114,064 |
| Amortization of intangibles | 75,250 | 92,093 | 27,906 |
| Stock-based compensation expense | 63,421 | 68,919 | 50,812 |
| Gains (Losses) on Extinguishment of Debt | 3,290 | 0 | 0 |
| Other non-cash activity | 24,570 | 6,974 | 4,423 |
| Excess tax benefit - stock options | (10,453) | (25,045) | (22,231) |
| Deferred income taxes | 8,124 | (52,214) | (77,711) |
| Change in operating assets and liabilities: | |||
| Accounts receivable | (9,392) | (71,198) | (36,460) |
| Inventories | 38,221 | (35,557) | 24,642 |
| Prepaid expenses and other current assets | (5,618) | 2,861 | (5,354) |
| Deferred compensation plan investments | (2,399) | (2,643) | (3,746) |
| Prepaid income tax | (4,315) | 4,546 | 10,499 |
| Accounts payable, deferred income and accrued liabilities | 85,502 | 56,614 | 58,373 |
| Deferred compensation plan liability | 2,399 | 2,643 | 3,746 |
| Income taxes payable | 9,950 | 25,060 | 96,536 |
| Other liabilities | 6,141 | 7,720 | (3,217) |
| Total adjustments | 419,231 | 210,920 | 242,282 |
| Net cash provided by operating activities | 1,280,895 | 907,798 | 871,602 |
| Cash flows from investing: | |||
| Purchases of short-term available-for-sale investments | (7,697,260) | (6,083,999) | (7,485,162) |
| Maturities of short-term available-for-sale investments | 6,375,361 | 4,984,980 | 7,318,877 |
| Sales of short-term available-for-sale investments | 332,716 | 1,251,194 | 2,187,389 |
| Additions to property, plant and equipment, net | (127,397) | (153,960) | (177,913) |
| Payments for acquisitions, net of cash acquired | (83,170) | (7,065) | (1,945,887) |
| (Increase) decrease in other assets | (18,520) | (8,275) | (12,055) |
| Net cash used for investing activities | (1,218,270) | (17,125) | (114,751) |
| Cash flows from financing activities: | |||
| Proceeds from long-term debt | 1,235,331 | 0 | 1,995,398 |
| Payments of Derivative Instruments | (33,430) | 0 | 0 |
| Payments of Financing Costs | (26,583) | 0 | 0 |
| Early Repayment of Senior Debt | (378,156) | 0 | 0 |
| Term Loan Repayments | 0 | 0 | (1,995,398) |
| Dividend payments to shareholders | (513,180) | (491,059) | (454,225) |
| Repurchase of common stock | (370,061) | (226,953) | (356,346) |
| Net proceeds from employee stock plans | 61,496 | 122,631 | 200,114 |
| Contingent consideration payment | (1,409) | (1,767) | (3,576) |
| (Decrease) Increase in other financing activities | (7,378) | 500 | 15,192 |
| Excess tax benefit - stock options | 10,453 | 25,045 | 22,231 |
| Net cash (used for) provided by financing activities | (22,917) | (571,603) | (576,610) |
| Effect of exchange rate changes on cash | (2,929) | (3,950) | (3,097) |
| Net (decrease) increase in cash and cash equivalents | 36,779 | 315,120 | 177,144 |
| Cash and cash equivalents at beginning of year | 884,353 | 569,233 | |
| Cash and cash equivalents at end of year | 921,132 | 884,353 | 569,233 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ANALOG DEVICES INC | ||
Ticker: ADI Fiscal Year: 2016 | ||
Consolidated Balance Sheets | ||
Period Ending Oct 29, 2016 10-K (Filed: Nov 22, 2016) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Oct 29, 2016 | Oct 31, 2015 | |
| Amount Related To Stock Based Compensation | $ 2,486 | 2,923 |
| Assets | ||
| Current Assets | ||
| Cash and cash equivalents | 921,132 | 884,353 |
| Short-term investments | 3,134,661 | 2,144,575 |
| Accounts receivable less allowances | 477,609 | 466,527 |
| Inventories | 376,555 [1] | 412,314 |
| Deferred tax assets | 0 | 129,241 |
| Prepaid income tax | 6,405 | 1,941 |
| Prepaid expenses and other current assets | 58,501 | 40,597 |
| Total current assets | 4,974,863 | 4,079,548 |
| Property, Plant and Equipment, at Cost | ||
| Land and buildings | 564,329 | 559,660 |
| Machinery and equipment | 1,994,115 | 1,932,727 |
| Office equipment | 58,785 | 54,099 |
| Leasehold improvements | 59,649 | 55,609 |
| Property, plant and equipment, at cost | 2,676,878 | 2,602,095 |
| Less accumulated depreciation and amortization | 2,040,762 | 1,957,985 |
| Net property, plant and equipment | 636,116 | 644,110 |
| Other Assets | ||
| Deferred compensation plan investments | 26,152 | 23,753 |
| Other investments | 21,937 | 17,482 |
| Goodwill | 1,679,116 | 1,636,526 |
| Intangible assets, net | 549,368 | 583,517 |
| Deferred tax assets | 36,005 | 33,280 |
| Other assets | 46,721 | 40,561 |
| Total other assets | 2,359,299 | 2,335,119 |
| Total assets | 7,970,278 | 7,058,777 |
| Liabilities and Shareholders' Equity | ||
| Current Liabilities | ||
| Accounts payable | 171,439 | 174,247 |
| Deferred income on shipments to distributors, net | 351,538 | 300,087 |
| Income taxes payable | 4,100 | 15,062 |
| Debt, current | 0 | 374,594 |
| Accrued liabilities | 255,857 | 249,595 |
| Total current liabilities | 782,934 | 1,113,585 |
| Non-current Liabilities | ||
| Long-term debt | 1,732,177 | 495,341 |
| Deferred income taxes | 109,931 | 227,376 |
| Deferred compensation plan liability | 26,152 | 23,753 |
| Other non-current liabilities | 153,466 | 125,763 |
| Total non-current liabilities | 2,021,726 | 872,233 |
| 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 | 51,363 | 52,011 |
| Capital in excess of par value | 402,270 | 634,484 |
| Retained earnings | 4,785,799 | 4,437,315 |
| Accumulated other comprehensive loss | (73,814) | (50,851) |
| Total shareholders' equity | 5,165,618 | 5,072,959 |
| Liabilities and Shareholders' Equity | 7,970,278 | 7,058,777 |
| [1] Includes $2,486 and $2,923 related to stock-based compensation at October29, 2016 and October31, 2015, respectively. | ||
| External Links | |
| ANALOG DEVICES INC (ADI) Fiscal Year 2016 | |
| 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 |