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: 2020 | |||
Consolidated Statements of Income | |||
Period Ending Oct 31, 2020 10-K (Filed: Nov 24, 2020) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 31, 2020 | Nov 2, 2019 | Nov 3, 2018 | |
| Revenue | |||
| Revenue | $ 5,603,056 | 5,991,065 | 6,224,689 |
| Costs and Expenses | |||
| Cost of sales | 1,912,578 | 1,977,315 | 1,974,293 |
| Gross margin | 3,690,478 | 4,013,750 | 4,250,396 |
| Operating expenses: | |||
| Research and development | 1,050,519 | 1,130,348 | 1,165,047 |
| Selling, marketing, general and administrative | 659,923 | 648,094 | 695,540 |
| Amortization of intangibles | 429,455 | 429,041 | 428,902 |
| Special charges | 52,337 | 95,659 | 61,318 |
| Total operating expenses | 2,192,234 | 2,303,142 | 2,350,807 |
| Operating income | 1,498,244 | 1,710,608 | 1,899,589 |
| Nonoperating expense (income): | |||
| Interest expense | 193,305 | 229,075 | 253,589 |
| Interest income | (4,305) | (10,229) | (9,383) |
| Other, net | (2,373) | 6,034 | 69 |
| Total nonoperating (income) expense | 186,627 | 224,880 | 244,275 |
| Earnings | |||
| Income before income taxes | 1,311,617 | 1,485,728 | 1,655,314 |
| Provision for income taxes | 90,856 | 122,717 | 148,334 |
| Net income | 1,220,761 | 1,363,011 | 1,506,980 |
| Shares used to compute earnings per common share (in shares) | |||
| Shares used to compute earnings per share - Basic (in shares) | 368,633 | 369,133 | 370,430 |
| Shares used to compute earnings per share - Diluted (in shares) | 371,973 | 372,871 | 374,938 |
| Basic earnings per common share (in dollars per share) | 3.31 | 3.68 | 4.05 |
| Diluted earnings per common share (in dollars per share) | 3.28 | 3.65 | 4.00 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2020 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Oct 31, 2020 10-K (Filed: Nov 24, 2020) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 31, 2020 | Nov 2, 2019 | Nov 3, 2018 | |
| Net income | $ 1,220,761 | 1,363,011 | 1,506,980 |
| Foreign currency translation adjustment | 3,224 | (1,365) | (6,222) |
| Change in fair value of available-for-sale securities | 0 | 10 | (10) |
| Change in unrecognized gains/losses on derivative instruments designated as cash flow hedges: | |||
| Changes in fair value of derivatives (net of tax of $17,468 in 2020, $29,401 in 2019 and $416 in 2018) | (51,437) | (111,327) | (1,863) |
| Adjustment for realized gain/loss reclassified into earnings (net of tax of $158 in 2020, $1,518 in 2019 and $94 in 2018) | (839) | 7,667 | (1,613) |
| Total change in derivative instruments designated as cash flow hedges, net of tax | (52,276) | (103,660) | (3,476) |
| Changes in accumulated other comprehensive loss pension plans: | |||
| Change in transition asset | 0 | 0 | 10 |
| Change in actuarial loss/gain (net of tax of $5,167 in 2020, $5,734 in 2019 and $2,363 in 2018) | (10,231) | (24,344) | 12,616 |
| Change in prior service cost/income | 0 | 0 | 1 |
| Total change in accumulated other comprehensive loss pension plans, net of tax | (10,231) | (24,344) | 12,627 |
| Other comprehensive income (loss) | (59,283) | (129,359) | 2,919 |
| Comprehensive income | 1,161,478 | 1,233,652 | 1,509,899 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2020 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Oct 31, 2020 10-K (Filed: Nov 24, 2020) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 31, 2020 | Nov 2, 2019 | Nov 3, 2018 | |
| Cash flows from operating activities: | |||
| Net income | $ 1,220,761 | 1,363,011 | 1,506,980 |
| Adjustments to reconcile net income to net cash provided by operations: | |||
| Depreciation | 233,775 | 240,677 | 228,525 |
| Amortization of intangibles | 577,148 | 570,574 | 570,538 |
| Stock-based compensation expense | 149,518 | 150,300 | 151,165 |
| Non-cash impairment included in special charges | 0 | 14,167 | 0 |
| Other non-cash activity | 5,418 | 40,907 | 36,569 |
| Non-cash contribution to charitable foundation | 40,000 | 0 | 0 |
| Deferred income taxes | (113,948) | (91,253) | (730,376) |
| Change in operating assets and liabilities: | |||
| Accounts receivable | (101,626) | 5,890 | 45,979 |
| Inventories | 1,760 | (42,771) | (34,636) |
| Prepaid expenses and other current assets | (3,666) | (11,797) | (1,588) |
| Deferred compensation plan investments | (3,853) | (7,301) | (7,484) |
| Accounts payable and accrued liabilities | 103,104 | (6,371) | (18,397) |
| Deferred compensation plan liability | 3,853 | 7,308 | 7,484 |
| Income taxes payable, current | 29,441 | 74,993 | (8,506) |
| Other liabilities | (133,198) | (55,234) | 696,108 |
| Total adjustments | 787,726 | 890,089 | 935,381 |
| Net cash provided by operating activities | 2,008,487 | 2,253,100 | 2,442,361 |
| Cash flows from investing: | |||
| Additions to property, plant and equipment, net | (165,692) | (275,372) | (254,876) |
| Payments for acquisitions, net of cash acquired | (14,196) | (11,170) | (52,839) |
| Change in other assets | (635) | (6,644) | (6,283) |
| Net cash used for investing activities | (180,523) | (293,186) | (313,998) |
| Cash flows from financing activities: | |||
| Proceeds from debt | 395,646 | 1,250,000 | 743,778 |
| Early termination of debt | 0 | (1,250,000) | 0 |
| Debt repayments | (750,000) | (850,000) | (2,275,000) |
| Payments on revolver | (350,000) | (75,000) | 0 |
| Proceeds from revolver | 350,000 | 75,000 | 0 |
| Dividend payments to shareholders | (886,155) | (777,481) | (703,307) |
| Repurchase of common stock | (244,487) | (613,005) | (225,977) |
| Proceeds from employee stock plans | 68,403 | 116,523 | 99,027 |
| Change in other financing activities | (4,015) | (2,831) | 3,437 |
| Net cash used for financing activities | (1,420,608) | (2,126,794) | (2,358,042) |
| Effect of exchange rate changes on cash | 182 | (1,389) | (1,568) [1] |
| Net (decrease) increase in cash and cash equivalents | 407,538 | (168,269) | (231,247) |
| Cash and cash equivalents at beginning of year | 648,322 | 816,591 | |
| Cash and cash equivalents at end of year | 1,055,860 | 648,322 | 816,591 |
| [1] Balances have been restated to reflect the adoption of Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (ASU 2014-09). See Note 2a, Principles of Consolidation, of the Notes to Consolidated Financial Statements. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ANALOG DEVICES INC | ||
Ticker: ADI Fiscal Year: 2020 | ||
Consolidated Balance Sheets | ||
Period Ending Oct 31, 2020 10-K (Filed: Nov 24, 2020) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Oct 31, 2020 | Nov 2, 2019 | |
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | $ 1,055,860 | 648,322 |
| Accounts receivable less allowances of $4,350 ($8,387 in 2019) | 737,536 | 635,136 |
| Inventories | 608,260 | 609,886 |
| Prepaid expenses and other current assets | 116,032 | 91,782 |
| Total current assets | 2,517,688 | 1,985,126 |
| Property, Plant and Equipment, at Cost | ||
| Land and buildings | 974,604 | 956,099 |
| Machinery and equipment | 2,667,846 | 2,609,493 |
| Office equipment | 85,291 | 85,490 |
| Leasehold improvements | 157,915 | 160,175 |
| Property, plant and equipment, at cost | 3,885,656 | 3,811,257 |
| Less accumulated depreciation and amortization | 2,765,095 | 2,591,268 |
| Net property, plant and equipment | 1,120,561 | 1,219,989 |
| Other Assets | ||
| Other investments | 86,729 | 77,324 |
| Goodwill | 12,278,425 | 12,256,880 |
| Intangible assets, net | 3,650,280 | 4,217,224 |
| Deferred tax assets | 1,503,064 | 1,582,382 |
| Other assets | 311,856 | 53,716 |
| Total other assets | 17,830,354 | 18,187,526 |
| Total assets | 21,468,603 | 21,392,641 |
| LIABILITIES AND SHAREHOLDERS EQUITY | ||
| Current Liabilities | ||
| Accounts payable | 227,273 | 225,270 |
| Income taxes payable | 182,080 | 187,879 |
| Debt, current | 0 | 299,667 |
| Accrued liabilities | 955,633 | 795,816 |
| Total current liabilities | 1,364,986 | 1,508,632 |
| Non-current Liabilities | ||
| Long-term debt | 5,145,102 | 5,192,252 |
| Deferred income taxes | 1,919,595 | 2,088,212 |
| Income taxes payable | 591,780 | 654,420 |
| Other non-current liabilities | 449,195 | 239,937 |
| Total non-current liabilities | 8,105,672 | 8,174,821 |
| 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, 369,484,899 shares outstanding (368,302,369 on November 2, 2019) | 61,582 | 61,385 |
| Capital in excess of par value | 4,949,586 | 4,936,349 |
| Retained earnings | 7,236,238 | 6,899,253 |
| Accumulated other comprehensive loss | (249,461) | (187,799) |
| Total shareholders equity | 11,997,945 | 11,709,188 |
| Liabilities and Shareholders' Equity | 21,468,603 | 21,392,641 |
| External Links | |
| ANALOG DEVICES INC (ADI) Fiscal Year 2020 | |
| 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 |