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: 2010 | |||
Consolidated Statements of Income | |||
Period Ending Oct 30, 2010 10-K (Filed: Nov 22, 2010) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 30, 2010 | Oct 31, 2009 | Nov 1, 2008 | |
| Revenue | |||
| Revenue | $ 2,761,503 | 2,014,908 | 2,582,931 |
| Costs and Expenses | |||
| Cost of sales | 962,081 | 896,271 | 1,005,656 [1] |
| Gross margin | 1,799,422 | 1,118,637 | 1,577,275 |
| Operating expenses: | |||
| Research and development | 492,305 | 446,980 | 533,480 |
| Selling, marketing, general and administrative | 390,560 | 333,184 | 415,682 |
| Special charges | 16,483 | 53,656 | 3,088 |
| Total operating expenses | 899,348 | 833,820 | 952,250 |
| Operating income from continuing operations | 900,074 | 284,817 | 625,025 |
| Nonoperating (income) expenses: | |||
| Interest expense | 10,429 | 4,094 | |
| Interest income | (9,837) | (15,621) | (41,041) |
| Other, net | (2,183) | (1,100) | (36) |
| Total nonoperating (income) expense | (1,591) | (12,627) | (41,077) |
| Earnings | |||
| Income from continuing operations before income taxes | 901,665 | 297,444 | 666,102 |
| Provision for income taxes: | |||
| Payable currently | 200,306 | 38,441 | 152,294 |
| Deferred | (9,866) | 11,595 | (11,369) |
| Provision for income taxes | 190,440 | 50,036 | 140,925 |
| Income from continuing operations, net of tax | 711,225 | 247,408 | 525,177 |
| Discontinued operations, net of tax: | |||
| Income from discontinued operations | 364 | 12,779 | |
| Gain on sale of discontinued operations | 859 | 248,328 | |
| Total income from discontinued operations, net of tax | 859 | 364 | 261,107 |
| Net income | 712,084 | 247,772 | 786,284 |
| Shares used to compute earnings per share - Basic | 297,387 | 291,385 | 292,688 |
| Shares used to compute earnings per share - Diluted | 305,861 | 292,698 | 297,110 |
| Earnings per share - Basic | |||
| Income from continuing operations, net of tax | 2.39 | 0.85 | 1.79 |
| Net income | 2.39 | 0.85 | 2.69 [2] |
| Earnings per share - Diluted | |||
| Income from continuing operations, net of tax | 2.33 | 0.85 | 1.77 |
| Net income | 2.33 | 0.85 | 2.65 |
| Dividends declared and paid per share | 0.84 | 0.80 | 0.76 |
| Includes stock-based compensation expense as follows: | |||
| Cost of sales | 7,333 | 7,469 | 7,806 |
| Research and development | 23,342 | 22,666 | 23,768 |
| Selling, marketing, general and administrative | 21,077 | 18,478 | 20,970 |
| [1] Includes stock-based compensation expense | |||
| [2] The sum of the individual per share amounts may not equal due to rounding. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2010 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Oct 30, 2010 10-K (Filed: Nov 22, 2010) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 30, 2010 | Oct 31, 2009 | Nov 1, 2008 | |
| Income from continuing operations, net of tax | $ 711,225 | 247,408 | 525,177 |
| Foreign currency translation adjustments | 6,085 | 14,840 | (42,370) |
| Net unrealized (losses) gains on securities: | |||
| Net unrealized holding (losses) gains (net of taxes of $6 in 2010, $347 in 2009 and $372 in 2008) on securities classified as short-term investments | (50) | (2,456) | 2,508 |
| Net unrealized holding gains (losses) (net of taxes of $175 in 2010, $197 in 2009 and $217 in 2008) on securities classified as other investments | 325 | 366 | 400 |
| Net unrealized (losses) gains on securities | 275 | (2,090) | 2,908 |
| Derivative instruments designated as cash flow hedges: | |||
| Changes in fair value of derivatives (net of taxes of $449 in 2010, $2,278 in 2009 and $3,001 in 2008) | (1,339) | 16,215 | (19,727) |
| Realized loss (gain) reclassification (net of taxes of $458 in 2010, $1,609 in 2009 and $1,042 in 2008) | 1,863 | 9,657 | (6,848) |
| Net change in derivative instruments designated as cash flow hedges | 524 | 25,872 | (26,575) |
| Accumulated other comprehensive (loss) income - pension plans: | |||
| Transition obligation (net of taxes of $34 in 2010, $1 in 2009 and $4 in 2008) | (80) | (34) | (43) |
| Net actuarial loss (net of taxes of $4,594 in 2010, $287 in 2009 and $1,971 in 2008) | (30,151) | (663) | (15,197) |
| Net prior service income (net of taxes of $0 in 2010, $1 in 2009 and $4 in 2008) | 5 | 8 | |
| Net change in accumulated other comprehensive loss - pension plans (net of taxes of $4,560 in 2010, $286 in 2009 and $1,963 in 2008) | (30,231) | (692) | (15,232) |
| Other comprehensive (loss) income | (23,347) | 37,930 | (81,269) |
| Comprehensive income from continuing operations | 687,878 | 285,338 | 443,908 |
| Total income from discontinued operations, net of tax | 859 | 364 | 261,107 |
| Comprehensive income | 688,737 | 285,702 | 705,015 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2010 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Oct 30, 2010 10-K (Filed: Nov 22, 2010) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 30, 2010 | Oct 31, 2009 | Nov 1, 2008 | |
| Operations | |||
| Cash flows from operating activities: | |||
| Net income | $ 712,084 | 247,772 | 786,284 |
| Adjustments to reconcile net income to net cash provided by operations: | |||
| Depreciation | 116,083 | 132,493 | 144,222 |
| Amortization of intangibles | 4,828 | 7,377 | 9,250 |
| Stock-based compensation expense | 51,752 | 48,613 | 50,247 |
| Gain on sale of business | (859) | (248,328) | |
| Non-cash portion of special charges | 487 | 15,468 | |
| Other non-cash activity | 1,662 | 1,663 | 310 |
| Excess tax benefit - stock options | (317) | (20) | (18,586) |
| Deferred income taxes | (9,866) | 11,595 | (11,369) |
| Change in operating assets and liabilities: | |||
| (Increase) decrease in accounts receivable | (82,380) | 16,561 | 48,903 |
| (Increase) decrease in inventories | (24,274) | 67,347 | 16,784 |
| (Increase) decrease in prepaid expenses and other current assets | (4,002) | 731 | 6,557 |
| (Increase) decrease in deferred compensation plan investments | (747) | 24,097 | 4,401 |
| Increase (decrease) in accounts payable, deferred income and accrued liabilities | 190,043 | (100,064) | (60,736) |
| Increase (decrease) in deferred compensation plan liability | 750 | (24,801) | (3,811) |
| Income tax payments related to gain on sale of businesses | (4,105) | (110,401) | |
| Increase (decrease) in income taxes payable | 61,984 | (24,909) | 41,443 |
| (Decrease) increase in other liabilities | (26,053) | 12,330 | 14,198 |
| Total adjustments | 279,091 | 184,376 | (116,916) |
| Net cash provided by operating activities | 991,175 | 432,148 | 669,368 |
| Investing Activities | |||
| Cash flows from investing: | |||
| Purchases of short-term available-for-sale investments | (3,478,025) | (2,812,094) | (1,925,654) |
| Maturities of short-term available-for-sale investments | 2,274,254 | 1,768,948 | |
| Sales of short-term available-for-sale investments | 234,718 | 74,880 | 99,734 |
| Additions to property, plant and equipment, net | (111,557) | (56,095) | (157,408) |
| Net proceeds (expenditures) related to sale of businesses | 63,036 | (1,653) | 403,181 |
| Payments for acquisitions | (8,360) | (3,146) | |
| Decrease (increase) in other assets | 4,276 | (5,661) | 2,708 |
| Net cash (used for) provided by investing activities | (485,825) | (534,729) | 188,363 |
| Financing Activities | |||
| Cash flows from financing activities: | |||
| Proceeds from issuance of long-term debt | 370,350 | ||
| Dividend payments to shareholders | (249,964) | (232,988) | (222,530) |
| Repurchase of common stock | (39,848) | (3,762) | (569,853) |
| Net proceeds from employee stock plans | 216,147 | 12,377 | 94,155 |
| Other financing activities | 710 | (366) | |
| Excess tax benefit - stock options | 317 | 20 | 18,586 |
| Net cash (used for) provided by financing activities | (72,638) | 145,997 | (680,008) |
| Effect of exchange rate changes on cash | (2,441) | 2,714 | (9,096) |
| Net increase in cash and cash equivalents | 430,271 | 46,130 | 168,627 |
| Cash and cash equivalents at beginning of year | 639,729 | 593,599 | 424,972 |
| Cash and cash equivalents at end of year | 1,070,000 | 639,729 | 593,599 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ANALOG DEVICES INC | ||
Ticker: ADI Fiscal Year: 2010 | ||
Consolidated Balance Sheets | ||
Period Ending Oct 30, 2010 10-K (Filed: Nov 22, 2010) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Oct 30, 2010 | Oct 31, 2009 | |
| Assets | ||
| Current Assets | ||
| Cash and cash equivalents | $ 1,070,000 | 639,729 |
| Short-term investments | 1,617,768 | 1,176,244 |
| Accounts receivable less allowances of $1,581 ($1,681 in 2009) | 387,169 | 301,036 |
| Inventories | 277,478 | 253,161 [1] |
| Deferred tax assets | 74,710 | 78,740 |
| Deferred compensation plan investments | 0 | 1,363 |
| Prepaid expenses and other current assets | 51,874 | 40,363 |
| Total current assets | 3,478,999 | 2,490,636 |
| Property, Plant and Equipment, at Cost | ||
| Land and buildings | 401,277 | 395,151 |
| Machinery and equipment | 1,578,493 | 1,511,822 |
| Office equipment | 56,449 | 56,294 |
| Leasehold improvements | 65,326 | 66,847 |
| Gross property, plant and equipment | 2,101,545 | 2,030,114 |
| Less accumulated depreciation and amortization | 1,628,880 | 1,553,598 |
| Net property, plant and equipment | 472,665 | 476,516 |
| Other Assets | ||
| Deferred compensation plan investments | 8,690 | 6,580 |
| Other investments | 1,317 | 1,485 |
| Goodwill | 255,580 | 250,881 |
| Intangible assets, net | 1,343 | 6,855 |
| Deferred tax assets | 52,765 | 38,759 |
| Other assets | 57,472 | 35,658 |
| Non-current assets of discontinued operations | 0 | 62,037 |
| Total other assets | 377,167 | 402,255 |
| Total assets | 4,328,831 | 3,369,407 |
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||
| Current Liabilities | ||
| Accounts payable | 133,111 | 107,334 |
| Deferred income on shipments to distributors, net | 242,848 | 149,278 |
| Income taxes payable | 60,421 | 6,445 |
| Deferred compensation plan liability | 0 | 1,363 |
| Accrued liabilities | 207,087 | 122,193 |
| Total current liabilities | 643,467 | 386,613 |
| Non-current Liabilities | ||
| Long-term debt | 400,635 | 379,626 [2] |
| Deferred income taxes | 1,800 | 1,345 |
| Deferred compensation plan liability | 8,690 | 6,577 |
| Other non-current liabilities | 74,522 | 66,097 |
| Total non-current liabilities | 485,647 | 453,645 |
| 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, 298,652,994 shares issued and outstanding (291,861,767 on October 31, 2009) | 49,777 | 48,645 |
| Capital in excess of par value | 286,969 | 56,306 |
| Retained earnings | 2,896,566 | 2,434,446 |
| Accumulated other comprehensive loss | (33,595) | (10,248) |
| Total shareholders' equity | 3,199,717 | 2,529,149 |
| Total liabilities and shareholders' equity | 4,328,831 | 3,369,407 |
| [2] Equal to the accreted notional value of the debt plus the mark-to-market of the interest rate component of the long-term debt to fair value. The fair value of the long-term debt as of October 30, 2010 and October 31, 2009 was $416.3 million and $389.5 million, respectively. | ||
| [1] Includes $2,534 and $2,718 related to stock-based compensation at October 30, 2010 and October 31, 2009, respectively. | ||
| External Links | |
| ANALOG DEVICES INC (ADI) Fiscal Year 2010 | |
| 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 |