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: 2011 | |||
Consolidated Statements of Income | |||
Period Ending Oct 29, 2011 10-K (Filed: Nov 22, 2011) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 29, 2011 | Oct 30, 2010 | Oct 31, 2009 | |
| Revenue | |||
| Revenue | $ 2,993,320 | 2,761,503 | 2,014,908 |
| Costs and Expenses | |||
| Cost of sales | 1,006,779 | 962,081 | 896,271 [1] |
| Gross margin | 1,986,541 | 1,799,422 | 1,118,637 |
| Operating expenses: | |||
| Research and development | 505,570 | 492,305 | 446,980 |
| Selling, marketing, general and administrative | 406,707 | 390,560 | 333,184 |
| Special charges | 2,239 | 16,483 | 53,656 |
| Total operating expenses | 914,516 | 899,348 | 833,820 |
| Operating income from continuing operations | 1,072,025 | 900,074 | 284,817 |
| Nonoperating (income) expenses: | |||
| Interest expense | 19,146 | 10,429 | 4,094 |
| Interest income | (9,060) | (9,837) | (15,621) |
| Other, net | 492 | (2,183) | (1,100) |
| Total nonoperating (income) expense | 10,578 | (1,591) | (12,627) |
| Earnings | |||
| Income from continuing operations before income taxes | 1,061,447 | 901,665 | 297,444 |
| Provision for income taxes: | |||
| Payable currently | 198,849 | 200,306 | 38,441 |
| Deferred | 1,704 | (9,866) | 11,595 |
| Provision for income taxes | 200,553 | 190,440 | 50,036 |
| Income from continuing operations, net of tax | 860,894 | 711,225 | 247,408 |
| Discontinued operations, net of tax: | |||
| Income from discontinued operations | 364 | ||
| Gain on sale of discontinued operations | 6,500 | 859 | |
| Total income from discontinued operations, net of tax | 6,500 | 859 | 364 |
| Net income | 867,394 | 712,084 | 247,772 |
| Shares used to compute earnings per share - Basic | 299,417 | 297,387 | 291,385 |
| Shares used to compute earnings per share - Diluted | 308,236 | 305,861 | 292,698 |
| Earnings per share - Basic | |||
| Income from continuing operations, net of tax | 2.88 | 2.39 | 0.85 |
| Net income | 2.90 | 2.39 | 0.85 |
| Earnings per share - Diluted | |||
| Income from continuing operations, net of tax | 2.79 | 2.33 | 0.85 |
| Net income | 2.81 | 2.33 | 0.85 |
| Dividends declared and paid per share | 0.94 | 0.84 | 0.80 |
| Includes stock-based compensation expense as follows: | |||
| Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs, by Report Line | |||
| Cost of sales | |||
| Stock-based compensation expense | 7,294 | 7,333 | 7,469 |
| Research and development | |||
| Stock-based compensation expense | 23,289 | 23,342 | 22,666 |
| Selling, marketing, general and administrative | |||
| Stock-based compensation expense | 21,775 | 21,077 | 18,478 |
| [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: 2011 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Oct 29, 2011 10-K (Filed: Nov 22, 2011) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 29, 2011 | Oct 30, 2010 | Oct 31, 2009 | |
| Income from continuing operations, net of tax | $ 860,894 | 711,225 | 247,408 |
| Foreign currency translation adjustment | (647) | 6,085 | 14,840 |
| Net unrealized (losses) gains on securities: | |||
| Net unrealized holding (losses) (net of taxes of $67 in 2011, $6 in 2010 and $347 in 2009) on available-for-sale securities classified as short-term investments | (459) | (50) | (2,456) |
| Net unrealized holding (losses) gains (net of taxes of $64 in 2011, $175 in 2010 and $197 in 2009) on securities classified as other investments | (118) | 325 | 366 |
| Net unrealized (losses) gains on securities | (577) | 275 | (2,090) |
| Derivative instruments designated as cash flow hedges: | |||
| Changes in fair value of derivatives (net of taxes of $539 in 2011, $449 in 2010 and $2,278 in 2009 | 3,347 | (1,339) | 16,215 |
| Realized (gain) loss reclassification (net of taxes of $1,171 in 2011, $458 in 2010 and $1,609 in 2009) | (7,793) | 1,863 | 9,657 |
| Net change in derivative instruments designated as cash flow hedges | (4,446) | 524 | 25,872 |
| Accumulated other comprehensive income (loss) - pension plans: | |||
| Transition asset (obligation) (net of taxes of $1 in 2011, $34 in 2010 and $1 in 2009) | 12 | (80) | (34) |
| Net actuarial gain (loss) (net of taxes of $1,770 in 2011, $4,594 in 2010 and $287 in 2009) | 13,084 | (30,151) | (663) |
| Net prior service income (net of taxes of $0 in 2011, $0 in 2010 and $1 in 2009) | 5 | ||
| Net change in accumulated other comprehensive income (loss) - pension plans (net of taxes of $1,771 in 2011, $4,560 in 2010 and $286 in 2009) | 13,096 | (30,231) | (692) |
| Other comprehensive income (loss) | 7,426 | (23,347) | 37,930 |
| Comprehensive income from continuing operations | 868,320 | 687,878 | 285,338 |
| Total income from discontinued operations, net of tax | 6,500 | 859 | 364 |
| Comprehensive income | 874,820 | 688,737 | 285,702 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2011 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Oct 29, 2011 10-K (Filed: Nov 22, 2011) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 29, 2011 | Oct 30, 2010 | Oct 31, 2009 | |
| Cash flows from operating activities: | |||
| Net income | $ 867,394 | 712,084 | 247,772 |
| Adjustments to reconcile net income to net cash provided by operations: | |||
| Depreciation | 116,873 | 116,083 | 132,493 |
| Amortization of intangibles | 1,346 | 4,828 | 7,377 |
| Stock-based compensation expense | 52,358 | 51,752 | 48,613 |
| Gain on sale of business | (6,500) | (859) | |
| Non-cash portion of special charges | 487 | 15,468 | |
| Other non-cash activity | 833 | 1,662 | 1,663 |
| Excess tax benefit - stock options | (44,936) | (317) | (20) |
| Deferred income taxes | 1,704 | (9,866) | 11,595 |
| Change in operating assets and liabilities: | |||
| Decrease (increase) in accounts receivable | 40,025 | (82,380) | 16,561 |
| (Increase) decrease in inventories | (17,603) | (24,274) | 67,347 |
| Decrease (increase) in prepaid expenses and other current assets | 822 | (4,002) | 731 |
| (Increase) decrease in deferred compensation plan investments | (17,720) | (747) | 24,097 |
| Increase in prepaid income tax | (16,681) | ||
| (Decrease) increase in accounts payable, deferred income and accrued liabilities | (90,323) | 190,043 | (100,064) |
| Increase (decrease) in deferred compensation plan liability | 17,738 | 750 | (24,801) |
| Income tax payments related to gain on sale of businesses | (4,105) | ||
| (Decrease) increase in income taxes payable | 893 | 61,984 | (24,909) |
| (Decrease) increase in other liabilities | (5,694) | (26,053) | 12,330 |
| Total adjustments | 33,135 | 279,091 | 184,376 |
| Net cash provided by operating activities | 900,529 | 991,175 | 432,148 |
| Cash flows from investing: | |||
| Purchases of short-term available-for-sale investments | (4,289,304) | (3,478,025) | (2,812,094) |
| Maturities of short-term available-for-sale investments | 3,436,284 | 2,801,727 | 2,274,254 |
| Sales of short-term available-for-sale investments | 282,861 | 234,718 | 74,880 |
| Additions to property, plant and equipment, net | (122,996) | (111,557) | (56,095) |
| Net proceeds (expenditures) related to sale of businesses | 10,000 | 63,036 | (1,653) |
| Payments for acquisitions | (13,988) | (8,360) | |
| (Increase) decrease in other assets | (6,595) | 4,276 | (5,661) |
| Net cash used for investing activities | (703,738) | (485,825) | (534,729) |
| Cash flows from financing activities: | |||
| Proceeds from long-term debt | 515,507 | 370,350 | |
| Term loan repayments | (28,392) | ||
| Dividend payments to shareholders | (281,626) | (249,964) | (232,988) |
| Repurchase of common stock | (330,256) | (39,848) | (3,762) |
| Net proceeds from employee stock plans | 217,164 | 216,147 | 12,377 |
| Increase in other financing activities | 1,279 | 710 | |
| Excess tax benefit - stock options | 44,936 | 317 | 20 |
| Net cash provided by (used for) financing activities | 138,612 | (72,638) | 145,997 |
| Effect of exchange rate changes on cash | (303) | (2,441) | 2,714 |
| Net increase in cash and cash equivalents | 335,100 | 430,271 | 46,130 |
| Cash and cash equivalents at beginning of year | 1,070,000 | 639,729 | 593,599 |
| Cash and cash equivalents at end of year | 1,405,100 | 1,070,000 | 639,729 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ANALOG DEVICES INC | ||
Ticker: ADI Fiscal Year: 2011 | ||
Consolidated Balance Sheets | ||
Period Ending Oct 29, 2011 10-K (Filed: Nov 22, 2011) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Oct 29, 2011 | Oct 30, 2010 | |
| Assets | ||
| Current Assets | ||
| Cash and cash equivalents | $ 1,405,100 | 1,070,000 |
| Short-term investments | 2,187,362 | 1,617,768 |
| Accounts receivable less allowances of $1,465 ($1,581 in 2010) | 348,416 | 387,169 |
| Inventories | 295,081 | 277,478 [1] |
| Deferred tax assets | 82,171 | 74,710 |
| Prepaid income tax | 22,002 | 0 |
| Prepaid expenses and other current assets | 46,216 | 51,874 |
| Total current assets | 4,386,348 | 3,478,999 |
| Property, Plant and Equipment, at Cost | ||
| Land and buildings | 430,453 | 401,277 |
| Machinery and equipment | 1,606,150 | 1,578,493 |
| Office equipment | 51,960 | 56,449 |
| Leasehold improvements | 48,338 | 65,326 |
| Property, plant and equipment, at cost | 2,136,901 | 2,101,545 |
| Less accumulated depreciation and amortization | 1,658,062 | 1,628,880 |
| Net property, plant and equipment | 478,839 | 472,665 |
| Other Assets | ||
| Deferred compensation plan investments | 26,410 | 8,690 |
| Other investments | 2,951 | 1,317 |
| Goodwill | 275,087 | 255,580 |
| Intangible assets, net | 12,200 | 1,343 |
| Deferred tax assets | 37,645 | 52,765 |
| Other assets | 58,155 | 57,472 |
| Total other assets | 412,448 | 377,167 |
| Total assets | 5,277,635 | 4,328,831 |
| Liabilities and Shareholders' Equity | ||
| Current Liabilities | ||
| Accounts payable | 113,056 | 133,111 |
| Deferred income on shipments to distributors, net | 233,249 | 242,848 |
| Income taxes payable | 6,584 | 60,421 |
| Current portion of long-term debt | 14,500 | 0 |
| Accrued liabilities | 157,616 | 207,087 |
| Total current liabilities | 525,005 | 643,467 |
| Non-current Liabilities | ||
| Long-term debt | 871,876 | 400,635 |
| Deferred income taxes | 1,260 | 1,800 |
| Deferred compensation plan liability | 26,428 | 8,690 |
| Other non-current liabilities | 57,653 | 74,522 |
| Total non-current liabilities | 957,217 | 485,647 |
| Commitments and contingencies (Note 12) | ||
| Shareholders' Equity | ||
| Preferred stock, $1.00 par value, 471,934 shares authorized, none outstanding | ||
| Common stock, $0.16 2/3 par value, 1,200,000,000 shares authorized, 297,960,718 shares issued and outstanding (298,652,994 on October 30, 2010) | 49,661 | 49,777 |
| Capital in excess of par value | 289,587 | 286,969 |
| Retained earnings | 3,482,334 | 2,896,566 |
| Accumulated other comprehensive loss | (26,169) | (33,595) |
| Total shareholders' equity | 3,795,413 | 3,199,717 |
| Liabilities and Shareholders' Equity | 5,277,635 | 4,328,831 |
| [1] Includes $2,431 and $2,534 related to stock-based compensation at October 29, 2011 and October 30, 2010, respectively. | ||
| External Links | |
| ANALOG DEVICES INC (ADI) Fiscal Year 2011 | |
| 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 |