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: 2012 | |||
Consolidated Statements of Income | |||
Period Ending Nov 3, 2012 10-K (Filed: Nov 27, 2012) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 3, 2012 | Oct 29, 2011 | Oct 30, 2010 | |
| Revenue | |||
| Revenue | $ 2,701,142 | 2,993,320 | 2,761,503 |
| Costs and Expenses | |||
| Cost of sales | 960,141 | 1,006,779 | 962,081 [1] |
| Gross margin | 1,741,001 | 1,986,541 | 1,799,422 |
| Operating expenses: | |||
| Research and development | 512,003 | 505,570 | 492,305 |
| Selling, marketing, general and administrative | 396,519 | 406,707 | 390,560 |
| Special charges | 8,431 | 2,239 | 16,483 |
| Total operating expenses | 916,953 | 914,516 | 899,348 |
| Operating income from continuing operations | 824,048 | 1,072,025 | 900,074 |
| Nonoperating (income) expenses: | |||
| Interest expense | (26,422) | (19,146) | (10,429) |
| Interest income | (14,448) | (9,060) | (9,837) |
| Other, net | (1,459) | 492 | (2,183) |
| Total nonoperating (income) expense | 10,515 | 10,578 | (1,591) |
| Earnings | |||
| Income from continuing operations before income taxes | 813,533 | 1,061,447 | 901,665 |
| Provision for income taxes: | |||
| Payable currently | 172,098 | 198,849 | 200,306 |
| Deferred | (9,801) | 1,704 | (9,866) |
| Provision for income taxes | 162,297 | 200,553 | 190,440 |
| Income from continuing operations, net of tax | 651,236 | 860,894 | 711,225 |
| Discontinued operations, net of tax: | |||
| Gain on sale of discontinued operations | 0 | 6,500 | 859 |
| Net income | 651,236 | 867,394 | 712,084 |
| Shares used to compute earnings per share - Basic (in shares) | 298,761 | 299,417 | 297,387 |
| Shares used to compute earnings per share - Diluted (in shares) | 306,191 | 308,236 | 305,861 |
| Earnings per share - Basic (in dollars per share) | |||
| Income from continuing operations, net of tax | 2.18 | 2.88 | 2.39 |
| Net income | 2.18 | 2.90 | 2.39 |
| Earnings per share - Diluted (in dollars per share) | |||
| Income from continuing operations, net of tax | 2.13 | 2.79 | 2.33 |
| Net income | 2.13 | 2.81 | 2.33 |
| Dividends declared and paid per share | 1.15 | 0.94 | 0.84 |
| 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 | 7,254 | 7,294 | 7,333 |
| Research and development | |||
| Stock-based compensation expense | 23,169 | 23,289 | 23,342 |
| Selling, marketing, general and administrative | |||
| Stock-based compensation expense | 23,077 | 21,775 | 21,077 |
| [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: 2012 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Nov 3, 2012 10-K (Filed: Nov 27, 2012) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 3, 2012 | Oct 29, 2011 | Oct 30, 2010 | |
| Income from continuing operations, net of tax | $ 651,236 | 860,894 | 711,225 |
| Foreign currency translation adjustment | 3,020 | (647) | 6,085 |
| Net unrealized (losses) gains on securities: | |||
| Net unrealized holding gains (losses) (net of taxes of $115 in 2012, $67 in 2011 and $6 in 2010) on available-for-sale securities classified as short-term investments | 525 | (459) | (50) |
| Net unrealized holding (losses) gains (net of taxes of $301 in 2012, $64 in 2011 and $175 in 2010) on securities classified as other investments | (558) | (118) | 325 |
| Net unrealized (losses) gains on securities | (33) | (577) | 275 |
| Derivative instruments designated as cash flow hedges: | |||
| Changes in fair value of derivatives (net of taxes of $1,233 in 2012, $539 in 2011 and $449 in 2010) | (7,923) | 3,347 | (1,339) |
| Realized loss (gain) reclassification (net of taxes of $1,160 in 2012, $1,171 in 2011 and $458 in 2010) | 7,401 | (7,793) | 1,863 |
| Net change in derivative instruments designated as cash flow hedges | (522) | (4,446) | 524 |
| Accumulated other comprehensive (loss) income - pension plans: | |||
| Transition asset (obligation) (net of taxes of $1 in 2012, $1 in 2011 and $34 in 2010) | 15 | 12 | (80) |
| Net actuarial (loss) gain (net of taxes of $7,243 in 2012, $1,770 in 2011 and $4,594 in 2010) | (44,784) | 13,084 | (30,151) |
| Net prior service income (net of taxes of $584 in 2012, $0 in 2011 and $0 in 2010) | 4,079 | 0 | 0 |
| Net change in accumulated other comprehensive (loss) income - pension plans (net of taxes of $6,658 in 2012, $1,771 in 2011 and $4,560 in 2010) | (40,690) | 13,096 | (30,231) |
| Other comprehensive (loss) income | (38,225) | 7,426 | (23,347) |
| Comprehensive income from continuing operations | 613,011 | 868,320 | 687,878 |
| Gain on sale of discontinued operations, net of tax | 0 | 6,500 | 859 |
| Comprehensive income | 613,011 | 874,820 | 688,737 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2012 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Nov 3, 2012 10-K (Filed: Nov 27, 2012) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 3, 2012 | Oct 29, 2011 | Oct 30, 2010 | |
| Cash flows from operating activities: | |||
| Net income | $ 651,236 | 867,394 | 712,084 |
| Adjustments to reconcile net income to net cash provided by operations: | |||
| Depreciation | 109,705 | 116,873 | 116,083 |
| Amortization of intangibles | 128 | 1,346 | 4,828 |
| Stock-based compensation expense | 53,500 | 52,358 | 51,752 |
| Gain on sale of business | 0 | (6,500) | (859) |
| Gain on sale of investments | (1,231) | 0 | 0 |
| Non-cash portion of special charges | 219 | 0 | 487 |
| Other non-cash activity | (3,187) | 833 | 1,662 |
| Excess tax benefit - stock options | (12,230) | (44,936) | (317) |
| Deferred income taxes | (9,801) | 1,704 | (9,866) |
| Change in operating assets and liabilities: | |||
| Decrease (increase) in accounts receivable | 5,774 | 40,025 | (82,380) |
| Increase in inventories | (18,592) | (17,603) | (24,274) |
| Decrease (increase) in prepaid expenses and other current assets | 8,471 | 822 | (4,002) |
| Increase in deferred compensation plan investments | (2,070) | (17,720) | (747) |
| Increase (decrease) in prepaid income tax | 13,319 | (16,681) | 0 |
| Increase (decrease) in accounts payable, deferred income and accrued liabilities | 60 | (90,323) | 190,043 |
| Increase in deferred compensation plan liability | 2,052 | 17,738 | 750 |
| Increase in income taxes payable | 25,930 | 893 | 61,984 |
| Decrease in other liabilities | (8,741) | (5,694) | (26,053) |
| Total adjustments | 163,306 | 33,135 | 279,091 |
| Net cash provided by operating activities | 814,542 | 900,529 | 991,175 |
| Cash flows from investing: | |||
| Purchases of short-term available-for-sale investments | (8,165,043) | (4,289,304) | (3,478,025) |
| Maturities of short-term available-for-sale investments | 6,543,795 | 3,436,284 | 2,801,727 |
| Sales of short-term available-for-sale investments | 437,748 | 282,861 | 234,718 |
| Additions to property, plant and equipment, net | (132,176) | (122,996) | (111,557) |
| Net proceeds related to sale of businesses | 0 | 10,000 | 63,036 |
| Proceeds related to sale of investments | 1,506 | 0 | 0 |
| Payments for acquisitions, net of cash acquired | (24,158) | (13,988) | 0 |
| (Increase) decrease in other assets | (1,362) | (6,595) | 4,276 |
| Net cash used for investing activities | (1,339,690) | (703,738) | (485,825) |
| Cash flows from financing activities: | |||
| Proceeds from long-term debt | 0 | 515,507 | 0 |
| Early termination of swap agreements | 18,520 | 0 | 0 |
| Term loan repayments | (56,500) | (28,392) | 0 |
| Dividend payments to shareholders | (344,701) | (281,626) | (249,964) |
| Repurchase of common stock | (160,536) | (330,256) | (39,848) |
| Net proceeds from employee stock plans | 191,220 | 217,164 | 216,147 |
| Contingent consideration payment | (1,991) | 0 | 0 |
| (Decrease) Increase in other financing activities | (7,869) | 1,279 | 710 |
| Excess tax benefit - stock options | 12,230 | 44,936 | 317 |
| Net cash (used for) provided by financing activities | (349,627) | 138,612 | (72,638) |
| Effect of exchange rate changes on cash | (1,492) | (303) | (2,441) |
| Net (decrease) increase in cash and cash equivalents | (876,267) | 335,100 | 430,271 |
| Cash and cash equivalents at beginning of year | 1,405,100 | 1,070,000 | 639,729 |
| Cash and cash equivalents at end of year | 528,833 | 1,405,100 | 1,070,000 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ANALOG DEVICES INC | ||
Ticker: ADI Fiscal Year: 2012 | ||
Consolidated Balance Sheets | ||
Period Ending Nov 3, 2012 10-K (Filed: Nov 27, 2012) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Nov 3, 2012 | Oct 29, 2011 | |
| Assets | ||
| Current Assets | ||
| Cash and cash equivalents | $ 528,833 | 1,405,100 |
| Short-term investments | 3,371,545 | 2,187,362 |
| Accounts receivable less allowances of $2,721 ($1,465 in 2011) | 339,881 | 348,416 |
| Inventories | 313,723 | 295,081 [1] |
| Deferred tax assets | 90,335 | 82,171 |
| Prepaid income tax | 8,624 | 22,002 |
| Prepaid expenses and other current assets | 43,244 | 46,216 |
| Total current assets | 4,696,185 | 4,386,348 |
| Property, Plant and Equipment, at Cost | ||
| Land and buildings | 447,818 | 430,453 |
| Machinery and equipment | 1,681,661 | 1,606,150 |
| Office equipment | 50,042 | 51,960 |
| Leasehold improvements | 48,630 | 48,338 |
| Property, plant and equipment, at cost | 2,228,151 | 2,136,901 |
| Less accumulated depreciation and amortization | 1,727,284 | 1,658,062 |
| Net property, plant and equipment | 500,867 | 478,839 |
| Other Assets | ||
| Deferred compensation plan investments | 28,426 | 26,410 |
| Other investments | 1,816 | 2,951 |
| Goodwill | 283,833 | 275,087 |
| Intangible assets, net | 28,772 | 12,200 |
| Deferred tax assets | 43,531 | 37,645 |
| Other assets | 36,917 | 58,155 |
| Total other assets | 423,295 | 412,448 |
| Total assets | 5,620,347 | 5,277,635 |
| Liabilities and Shareholders' Equity | ||
| Current Liabilities | ||
| Accounts payable | 117,034 | 113,056 |
| Deferred income on shipments to distributors, net | 238,541 | 233,249 |
| Income taxes payable | 6,097 | 6,584 |
| Current portion of long-term debt | 14,500 | 14,500 |
| Accrued liabilities | 148,907 | 157,616 |
| Total current liabilities | 525,079 | 525,005 |
| Non-current Liabilities | ||
| Long-term debt | 807,098 | 871,876 |
| Deferred income taxes | 1,130 | 1,260 |
| Deferred compensation plan liability | 28,426 | 26,428 |
| Other non-current liabilities | 93,255 | 57,653 |
| Total non-current liabilities | 929,909 | 957,217 |
| 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, 301,389,176 shares issued and outstanding (297,960,718 on October 29, 2011) | 50,233 | 49,661 |
| Capital in excess of par value | 390,651 | 289,587 |
| Retained earnings | 3,788,869 | 3,482,334 |
| Accumulated other comprehensive loss | (64,394) | (26,169) |
| Total shareholders' equity | 4,165,359 | 3,795,413 |
| Liabilities and Shareholders' Equity | 5,620,347 | 5,277,635 |
| [1] Includes $2,517 and $2,431 related to stock-based compensation at November 3, 2012 and October 29, 2011, respectively. | ||
| External Links | |
| ANALOG DEVICES INC (ADI) Fiscal Year 2012 | |
| 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 |