10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
| ||||||||||||||
|
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2019 | |||
Consolidated Statements of Income | |||
Period Ending Nov 2, 2019 10-K (Filed: Nov 26, 2019) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 2, 2019 | Nov 3, 2018 | Oct 28, 2017 | |
| Revenue | |||
| Revenue | $ 5,991,065 | 6,224,689 | 5,246,354 |
| Costs and Expenses | |||
| Cost of sales | 1,977,315 | 1,974,293 | 2,078,113 |
| Gross margin | 4,013,750 | 4,250,396 | 3,168,241 |
| Operating expenses: | |||
| Research and development | 1,130,348 | 1,165,047 | 968,133 |
| Selling, marketing, general and administrative | 648,094 | 695,540 | 690,533 |
| Amortization of intangibles | 429,041 | 428,902 | 297,351 |
| Special charges | 95,659 | 61,318 | 49,463 |
| Total operating expenses | 2,303,142 | 2,350,807 | 2,005,480 |
| Operating income | 1,710,608 | 1,899,589 | 1,162,761 |
| Nonoperating (income) expenses: | |||
| Interest expense | 229,075 | 253,589 | 250,840 |
| Interest income | (10,229) | (9,383) | (30,333) |
| Other, net | 6,034 | 69 | 7,507 |
| Total nonoperating (income) expense | 224,880 | 244,275 | 228,014 |
| Earnings | |||
| Income before income taxes | 1,485,728 | 1,655,314 | 934,747 |
| Provision for income taxes | 122,717 | 148,334 | 129,368 |
| Net income | 1,363,011 | 1,506,980 | 805,379 |
| Shares used to compute earnings per common share (in shares) | |||
| Shares used to compute earnings per share - Basic (in shares) | 369,133 | 370,430 | 346,371 |
| Shares used to compute earnings per share - Diluted (in shares) | 372,871 | 374,938 | 350,484 |
| Earnings per share - Basic (in dollars per share) | |||
| Basic earnings per common share (in dollars per share) | 3.68 | 4.05 | 2.32 |
| Earnings per share - Diluted (in dollars per share) | |||
| Diluted earnings per common share (in dollars per share) | 3.65 | 4.00 | 2.29 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2019 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Nov 2, 2019 10-K (Filed: Nov 26, 2019) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 2, 2019 | Nov 3, 2018 | Oct 28, 2017 | |
| Net income | $ 1,363,011 | 1,506,980 | 805,379 |
| Foreign currency translation adjustment (net of taxes of $0 in 2019, $0 in 2018 and $1,556 in 2017) | (1,365) | (6,222) | 1,572 |
| Change in fair value of available-for-sale securities (net of taxes of $0 in 2019, $0 in 2018 and $35 in 2017) | 10 | (10) | (517) |
| Change in unrecognized gains/losses on derivative instruments designated as cash flow hedges: | |||
| Changes in fair value of derivatives (net of taxes of $29,401 in 2019, $416 in 2018 and $920 in 2017) | (111,327) | (1,863) | 3,806 |
| Adjustment for realized gain/loss reclassified into earnings (net of taxes of $1,518 in 2019, $94 in 2018 and $1,326 in 2017) | (7,667) | 1,613 | (4,199) |
| Total change in derivative instruments designated as cash flow hedges, net of tax | (103,660) | (3,476) | 8,005 |
| Changes in accumulated other comprehensive loss pension plans: | |||
| Change in transition asset (net of taxes of $0 in 2019, $0 in 2018 and $1 in 2017) | 0 | 10 | 14 |
| Change in actuarial loss/gain (net of taxes of $5,734 in 2019, $2,363 in 2018 and $355 in 2017) | (24,344) | 12,616 | 3,513 |
| Change in prior service cost/income (net of taxes of $0 in 2019, $0 in 2018 and $61 in 2017) | 0 | 1 | (132) |
| Total change in accumulated other comprehensive loss pension plans, net of tax | (24,344) | 12,627 | 3,395 |
| Other comprehensive (loss) income | (129,359) | 2,919 | 12,455 |
| Comprehensive income | 1,233,652 | 1,509,899 | 817,834 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2019 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Nov 2, 2019 10-K (Filed: Nov 26, 2019) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Nov 2, 2019 | Nov 3, 2018 | Oct 28, 2017 | |
| Cash flows from operating activities: | |||
| Net income | $ 1,363,011 | 1,506,980 | 805,379 |
| Adjustments to reconcile net income to net cash provided by operations: | |||
| Depreciation | 240,677 | 228,525 | 194,666 |
| Amortization of intangibles | 570,574 | 570,538 | 389,393 |
| Cost of goods sold for inventory acquired | 0 | 0 | 358,718 |
| Stock-based compensation expense | 150,300 | 151,165 | 104,188 |
| Non-cash portion of special charges | 14,167 | 0 | 0 |
| Other non-cash activity | 40,907 | 36,569 | (10,865) |
| Deferred income taxes | (91,253) | (730,376) | (810,398) |
| Change in operating assets and liabilities: | |||
| Accounts receivable | 5,890 | 45,979 | (65,669) |
| Inventories | (42,771) | (34,636) | (47,354) |
| Prepaid expenses and other current assets | (9,475) | (1,721) | (1,875) |
| Deferred compensation plan investments | (7,301) | (7,484) | (7,358) |
| Prepaid income tax | (2,322) | 133 | 2,679 |
| Accounts payable and accrued liabilities | (6,371) | (18,397) | 85,987 |
| Deferred compensation plan liability | 7,308 | 7,484 | 7,358 |
| Income taxes payable, current | 74,993 | (8,506) | 132,289 |
| Other liabilities | (55,234) | 696,108 | 17,227 |
| Total adjustments | 890,089 | 935,381 | 348,986 |
| Net cash provided by operating activities | 2,253,100 | 2,442,361 | 1,154,365 |
| Cash flows from investing: | |||
| Purchases of short-term available-for-sale investments | 0 | 0 | (705,485) |
| Maturities of short-term available-for-sale investments | 0 | 0 | 3,362,792 |
| Sales of short-term available-for-sale investments | 0 | 0 | 577,187 |
| Additions to property, plant and equipment, net | (275,372) | (254,876) | (204,098) |
| Payments for acquisitions, net of cash acquired | (11,170) | (52,839) | (9,632,568) |
| Change in other assets | (6,644) | (6,283) | (15,842) |
| Net cash used for investing activities | (293,186) | (313,998) | (6,618,014) |
| Cash flows from financing activities: | |||
| Proceeds from debt | 1,250,000 | 743,778 | 11,156,164 |
| Early termination of debt | (1,250,000) | 0 | 0 |
| Debt repayments | (850,000) | (2,275,000) | (5,050,000) |
| Payments on revolver | (75,000) | 0 | 0 |
| Proceeds from revolver | 75,000 | 0 | 0 |
| Proceeds from derivative instruments | 0 | 0 | 3,904 |
| Payments of deferred financing fees | 0 | 0 | (5,625) |
| Dividend payments to shareholders | (777,481) | (703,307) | (602,119) |
| Repurchase of common stock | (613,005) | (225,977) | (46,533) |
| Proceeds from employee stock plans | 116,523 | 99,027 | 133,302 |
| Change in other financing activities | (2,831) | 3,437 | (2,288) |
| Net cash (used for) provided by financing activities | (2,126,794) | (2,358,042) | 5,586,805 |
| Effect of exchange rate changes on cash | (1,389) | (1,568) | 3,550 |
| Net (decrease) increase in cash and cash equivalents | (168,269) | (231,247) | 126,706 |
| Cash and cash equivalents at beginning of year | 816,591 | 1,047,838 | |
| Cash and cash equivalents at end of year | 648,322 | 816,591 | 1,047,838 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ANALOG DEVICES INC | ||
Ticker: ADI Fiscal Year: 2019 | ||
Consolidated Balance Sheets | ||
Period Ending Nov 2, 2019 10-K (Filed: Nov 26, 2019) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Nov 2, 2019 | Nov 3, 2018 | |
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | $ 648,322 | 816,591 |
| Accounts receivable less allowances of $8,387 ($2,284 in 2018) | 635,136 | 639,717 |
| Inventories | 609,886 | 586,760 |
| Prepaid expenses and other current assets | 91,782 | 69,058 |
| Total current assets | 1,985,126 | 2,112,126 |
| Property, Plant and Equipment, at Cost | ||
| Land and buildings | 956,099 | 873,186 |
| Machinery and equipment | 2,609,493 | 2,478,032 |
| Office equipment | 85,490 | 76,233 |
| Leasehold improvements | 160,175 | 100,374 |
| Property, plant and equipment, at cost | 3,811,257 | 3,527,825 |
| Less accumulated depreciation and amortization | 2,591,268 | 2,373,497 |
| Net property, plant and equipment | 1,219,989 | 1,154,328 |
| Other Assets | ||
| Deferred compensation plan investments | 47,154 | 39,853 |
| Other investments | 30,170 | 28,730 |
| Goodwill | 12,256,880 | 12,252,604 |
| Intangible assets, net | 4,217,224 | 4,778,192 |
| Deferred tax assets | 1,582,382 | 9,665 |
| Other assets | 53,716 | 62,868 |
| Total other assets | 18,187,526 | 17,171,912 |
| Total assets | 21,392,641 | 20,438,366 |
| LIABILITIES AND SHAREHOLDERS EQUITY | ||
| Current Liabilities | ||
| Accounts payable | 225,270 | 260,919 |
| Income taxes payable | 187,879 | 93,722 |
| Debt, current | 299,667 | 67,000 |
| Accrued liabilities | 795,816 | 630,107 |
| Total current liabilities | 1,508,632 | 1,051,748 |
| Non-current Liabilities | ||
| Long-term debt | 5,192,252 | 6,265,674 |
| Deferred income taxes | 2,088,212 | 990,409 |
| Deferred compensation plan liability | 47,154 | 39,846 |
| Income taxes payable | 654,420 | 710,179 |
| Other non-current liabilities | 192,783 | 112,337 |
| Total non-current liabilities | 8,174,821 | 8,118,445 |
| 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, 368,302,369 shares outstanding (370,159,553 on November 3, 2018) | 61,385 | 61,694 |
| Capital in excess of par value | 4,936,349 | 5,282,222 |
| Retained earnings | 6,899,253 | 5,982,697 |
| Accumulated other comprehensive loss | (187,799) | (58,440) |
| Total shareholders equity | 11,709,188 | 11,268,173 |
| Liabilities and Shareholders' Equity | 21,392,641 | 20,438,366 |
| External Links | |
| ANALOG DEVICES INC (ADI) Fiscal Year 2019 | |
| 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 |