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: 2021 | |||
Consolidated Statements of Income | |||
Period Ending Oct 30, 2021 10-K (Filed: Dec 3, 2021) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | |
| Revenue | |||
| Revenue | $ 7,318,286 | 5,603,056 | 5,991,065 |
| Costs and Expenses | |||
| Cost of sales | 2,793,274 | 1,912,578 | 1,977,315 |
| Gross margin | 4,525,012 | 3,690,478 | 4,013,750 |
| Operating expenses: | |||
| Research and development | 1,296,126 | 1,050,519 | 1,130,348 |
| Selling, marketing, general and administrative | 915,418 | 659,923 | 648,094 |
| Amortization of intangibles | 536,811 | 429,455 | 429,041 |
| Special charges, net | 84,456 | 52,337 | 95,659 |
| Total operating expenses | 2,832,811 | 2,192,234 | 2,303,142 |
| Operating income | 1,692,201 | 1,498,244 | 1,710,608 |
| Nonoperating expense (income): | |||
| Interest expense | 184,825 | 193,305 | 229,075 |
| Loss on extinguishment of debt | 215,150 | 0 | 0 |
| Interest income | (1,220) | (4,305) | (10,229) |
| Other, net | (35,268) | (2,373) | 6,034 |
| Total nonoperating (income) expense | 363,487 | 186,627 | 224,880 |
| Earnings | |||
| Income before income taxes | 1,328,714 | 1,311,617 | 1,485,728 |
| (Benefit from) provision for income taxes | (61,708) | 90,856 | 122,717 |
| Net income | 1,390,422 | 1,220,761 | 1,363,011 |
| Shares used to compute earnings per share - Basic (in shares) | 397,462 | 368,633 | 369,133 |
| Shares used to compute earnings per share - Diluted (in shares) | 401,288 | 371,973 | 372,871 |
| Basic earnings per common share (USD per share) | 3.50 | 3.31 | 3.68 |
| Earnings per common share diluted (USD per share) | 3.46 | 3.28 | 3.65 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2021 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Oct 30, 2021 10-K (Filed: Dec 3, 2021) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | |
| Net income | $ 1,390,422 | 1,220,761 | 1,363,011 |
| Foreign currency translation adjustment | 1,057 | 3,224 | (1,365) |
| Change in fair value of available-for-sale securities | 0 | 0 | 10 |
| Change in unrecognized gains/losses on derivative instruments designated as cash flow hedges: | |||
| Changes in fair value of derivatives (net of tax of $14,217 in 2021, $17,468 in 2020 and $29,401 in 2019) | 41,817 | (51,437) | (111,327) |
| Adjustment for realized gain/loss reclassified into earnings (net of tax of $189 in 2021, $158 in 2020 and $1,518 in 2019) | 7,099 | (839) | 7,667 |
| Total change in derivative instruments designated as cash flow hedges, net of tax | 48,916 | (52,276) | (103,660) |
| Changes in accumulated other comprehensive loss pension plans: | |||
| Change in actuarial loss/gain (net of tax of $637 in 2021, $5,167 in 2020 and $5,734 in 2019) | 12,923 | (10,231) | (24,344) |
| Other comprehensive income (loss) | 62,896 | (59,283) | (129,359) |
| Comprehensive income | 1,453,318 | 1,161,478 | 1,233,652 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2021 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Oct 30, 2021 10-K (Filed: Dec 3, 2021) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 30, 2021 | Oct 31, 2020 | Nov 2, 2019 | |
| Cash flows from operating activities: | |||
| Net income | $ 1,390,422 | 1,220,761 | 1,363,011 |
| Adjustments to reconcile net income to net cash provided by operations: | |||
| Depreciation | 231,275 | 233,775 | 240,677 |
| Amortization of intangibles | 843,359 | 577,148 | 570,574 |
| Cost of goods sold for inventory acquired | 331,083 | 0 | 0 |
| Stock-based compensation expense | 243,611 | 149,518 | 150,300 |
| Gain on sale of property, plant and equipment | (13,557) | 0 | 0 |
| Non-cash contribution to charitable foundation | 0 | 40,000 | 0 |
| Loss on extinguishment of debt | 215,150 | 0 | 0 |
| Non-cash portion of special charges | 2,538 | 0 | 14,167 |
| Other | (15,524) | 5,418 | 40,907 |
| Deferred income taxes | (406,922) | (113,948) | (91,253) |
| Change in operating assets and liabilities: | |||
| Accounts receivable | (114,504) | (101,626) | 5,890 |
| Inventories | (65,114) | 1,760 | (42,771) |
| Prepaid expenses and other current assets | (53,326) | (3,666) | (11,797) |
| Deferred compensation plan investments | (17,639) | (3,853) | (7,301) |
| Prepaid income tax | (5,791) | 0 | 0 |
| Accounts payable and accrued liabilities | 208,444 | 103,104 | (6,371) |
| Deferred compensation plan liability | 17,638 | 3,853 | 7,308 |
| Income taxes payable, current | (6,797) | 29,441 | 74,993 |
| Other liabilities | (49,277) | (133,198) | (55,234) |
| Total adjustments | 1,344,647 | 787,726 | 890,089 |
| Net cash provided by operating activities | 2,735,069 | 2,008,487 | 2,253,100 |
| Cash flows from investing: | |||
| Proceeds from other investments | 30,125 | 0 | 0 |
| Additions to property, plant and equipment, net | (343,676) | (165,692) | (275,372) |
| Cash received from acquisition of Maxim, net of cash paid | 2,450,550 | 0 | 0 |
| Proceeds from sale of property, plant and equipment | 35,714 | 0 | 0 |
| Payments for acquisitions, net of cash acquired | (24,950) | (14,196) | (11,170) |
| Change in other assets | (4,238) | (635) | (6,644) |
| Net cash provided by (used for) investing activities | 2,143,525 | (180,523) | (293,186) |
| Cash flows from financing activities: | |||
| Proceeds from debt | 3,939,640 | 395,646 | 1,250,000 |
| Early termination of debt | (3,591,982) | 0 | (1,250,000) |
| Debt repayments | 0 | (750,000) | (850,000) |
| Payments on revolver | (400,000) | (350,000) | (75,000) |
| Proceeds from revolver | 400,000 | 350,000 | 75,000 |
| Payment on derivative instruments | (153,161) | 0 | 0 |
| Prepayment for stock repurchases | (500,000) | 0 | 0 |
| Dividend payments to shareholders | (1,109,344) | (886,155) | (777,481) |
| Repurchase of common stock | (2,605,144) | (244,487) | (613,005) |
| Proceeds from employee stock plans | 63,105 | 68,403 | 116,523 |
| Other financing activities | (2,778) | (4,015) | (2,831) |
| Net cash used for financing activities | (3,959,664) | (1,420,608) | (2,126,794) |
| Effect of exchange rate changes on cash | 3,174 | 182 | (1,389) |
| Net increase (decrease) in cash and cash equivalents | 922,104 | 407,538 | (168,269) |
| Cash and cash equivalents at beginning of year | 1,055,860 | 648,322 | |
| Cash and cash equivalents at end of year | 1,977,964 | 1,055,860 | 648,322 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ANALOG DEVICES INC | ||
Ticker: ADI Fiscal Year: 2021 | ||
Consolidated Balance Sheets | ||
Period Ending Oct 30, 2021 10-K (Filed: Dec 3, 2021) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Oct 30, 2021 | Oct 31, 2020 | |
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | $ 1,977,964 | 1,055,860 |
| Accounts receivable less allowances of $2,658 ($4,350 in 2020) | 1,459,056 | 737,536 |
| Inventories | 1,200,610 | 608,260 |
| Prepaid expenses and other current assets | 740,687 | 116,032 |
| Total current assets | 5,378,317 | 2,517,688 |
| Property, Plant and Equipment, at Cost | ||
| Land and buildings | 1,392,364 | 974,604 |
| Machinery and equipment | 3,210,879 | 2,667,846 |
| Office equipment | 164,431 | 85,291 |
| Leasehold improvements | 167,623 | 157,915 |
| Property, plant and equipment, at cost | 4,935,297 | 3,885,656 |
| Less accumulated depreciation and amortization | 2,956,246 | 2,765,095 |
| Net property, plant and equipment | 1,979,051 | 1,120,561 |
| Other Assets | ||
| Other investments | 127,856 | 86,729 |
| Goodwill | 26,918,470 | 12,278,425 |
| Intangible assets, net | 15,267,170 | 3,650,280 |
| Deferred tax assets | 2,267,269 | 1,503,064 |
| Other assets | 383,938 | 311,856 |
| Total other assets | 44,964,703 | 17,830,354 |
| Total assets | 52,322,071 | 21,468,603 |
| LIABILITIES AND SHAREHOLDERS EQUITY | ||
| Current Liabilities | ||
| Accounts payable | 443,434 | 227,273 |
| Income taxes payable | 332,685 | 182,080 |
| Debt, current | 516,663 | 0 |
| Accrued liabilities | 1,477,530 | 955,633 |
| Total current liabilities | 2,770,312 | 1,364,986 |
| Non-current Liabilities | ||
| Long-term debt | 6,253,212 | 5,145,102 |
| Deferred income taxes | 3,938,830 | 1,919,595 |
| Income taxes payable | 811,337 | 591,780 |
| Other non-current liabilities | 555,838 | 449,195 |
| Total non-current liabilities | 11,559,217 | 8,105,672 |
| Commitments and contingencies (Note 10) | ||
| 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, 525,330,672 shares outstanding (369,484,899 on October 31, 2020) | 87,554 | 61,582 |
| Capital in excess of par value | 30,574,237 | 4,949,586 |
| Retained earnings | 7,517,316 | 7,236,238 |
| Accumulated other comprehensive loss | (186,565) | (249,461) |
| Total shareholders equity | 37,992,542 | 11,997,945 |
| Liabilities and Shareholders' Equity | 52,322,071 | 21,468,603 |
| External Links | |
| ANALOG DEVICES INC (ADI) Fiscal Year 2021 | |
| 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 |