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: 2022 | |||
Consolidated Statements of Income | |||
Period Ending Oct 29, 2022 10-K (Filed: Nov 22, 2022) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | |
| Revenue | |||
| Revenue | $ 12,013,953 | 7,318,286 | 5,603,056 |
| Costs and Expenses | |||
| Cost of sales | 4,481,479 | 2,793,274 | 1,912,578 |
| Gross margin | 7,532,474 | 4,525,012 | 3,690,478 |
| Operating expenses: | |||
| Research and development | 1,700,518 | 1,296,126 | 1,050,519 |
| Selling, marketing, general and administrative | 1,266,175 | 915,418 | 659,923 |
| Amortization of intangibles | 1,012,572 | 536,811 | 429,455 |
| Special charges, net | 274,509 | 84,456 | 52,337 |
| Total operating expenses | 4,253,774 | 2,832,811 | 2,192,234 |
| Operating income | 3,278,700 | 1,692,201 | 1,498,244 |
| Nonoperating expense (income): | |||
| Interest expense | 200,408 | 184,825 | 193,305 |
| Loss on extinguishment of debt | 0 | 215,150 | 0 |
| Interest income | (6,906) | (1,220) | (4,305) |
| Other, net | (13,551) | (35,268) | (2,373) |
| Total nonoperating (income) expense | 179,951 | 363,487 | 186,627 |
| Earnings | |||
| Income before income taxes | 3,098,749 | 1,328,714 | 1,311,617 |
| Provision for (benefit from) income taxes | 350,188 | (61,708) | 90,856 |
| Net income | 2,748,561 | 1,390,422 | 1,220,761 |
| Shares used to compute earnings per share - basic (in shares) | 519,226 | 397,462 | 368,633 |
| Shares used to compute earnings per share - diluted (in shares) | 523,178 | 401,288 | 371,973 |
| Basic earnings per common share (USD per share) | 5.29 | 3.50 | 3.31 |
| Diluted earnings per common share (USD per share) | 5.25 | 3.46 | 3.28 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2022 | |||
Consolidated Statements of Comprehensive Income | |||
Period Ending Oct 29, 2022 10-K (Filed: Nov 22, 2022) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | |
| Net income | $ 2,748,561 | 1,390,422 | 1,220,761 |
| Foreign currency translation adjustment | (46,341) | 1,057 | 3,224 |
| Change in unrecognized gains/losses on derivative instruments designated as cash flow hedges: | |||
| Changes in fair value of derivatives (net of tax of $2,902 in 2022, $14,217 in 2021 and $17,468 in 2020) | (30,331) | 41,817 | (51,437) |
| Adjustment for realized loss/(gain) reclassified into earnings (net of tax of $5,054 in 2022, $189 in 2021 and $158 in 2020) | 34,472 | 7,099 | (839) |
| Total change in derivative instruments designated as cash flow hedges, net of tax | 4,141 | 48,916 | (52,276) |
| Changes in accumulated other comprehensive loss pension plans: | |||
| Change in actuarial gain/(loss) (net of tax of $7,756 in 2022, $637 in 2021 and $5,167 in 2020) | 30,613 | 12,923 | (10,231) |
| Other comprehensive (loss) income | (11,587) | 62,896 | (59,283) |
| Comprehensive income | 2,736,974 | 1,453,318 | 1,161,478 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ANALOG DEVICES INC | |||
Ticker: ADI Fiscal Year: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Oct 29, 2022 10-K (Filed: Nov 22, 2022) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Oct 29, 2022 | Oct 30, 2021 | Oct 31, 2020 | |
| Cash flows from operating activities: | |||
| Net income | $ 2,748,561 | 1,390,422 | 1,220,761 |
| Adjustments to reconcile net income to net cash provided by operations: | |||
| Depreciation | 283,338 | 231,275 | 233,775 |
| Amortization of intangibles | 2,014,161 | 843,359 | 577,148 |
| Cost of goods sold for inventory acquired | 271,396 | 331,083 | 0 |
| Stock-based compensation expense | 323,487 | 243,611 | 149,518 |
| Non-cash contribution to charitable foundation | 0 | 0 | 40,000 |
| Loss on extinguishment of debt | 0 | 215,150 | 0 |
| Non-cash impairment charge | 91,953 | 0 | 0 |
| Non-cash operating lease costs | (44,087) | 19,232 | (257,607) |
| Other | (2,987) | (24,086) | 5,418 |
| Deferred income taxes | (326,755) | (406,922) | (113,948) |
| Change in operating assets and liabilities: | |||
| Accounts receivable | (343,908) | (114,504) | (101,626) |
| Inventories | (470,725) | (65,114) | 1,760 |
| Prepaid expenses and other current assets | (79,439) | (53,326) | (3,666) |
| Prepaid income tax | 14,855 | (5,791) | 0 |
| Accounts payable and accrued liabilities | 171,772 | 208,444 | 103,104 |
| Income taxes payable, current | (91,852) | (6,797) | 29,441 |
| Other assets | (14,441) | (21,690) | 0 |
| Other liabilities | (69,927) | (49,277) | 124,409 |
| Total adjustments | 1,726,841 | 1,344,647 | 787,726 |
| Net cash provided by operating activities | 4,475,402 | 2,735,069 | 2,008,487 |
| Cash flows from investing activities: | |||
| Additions to property, plant and equipment, net | (699,308) | (343,676) | (165,692) |
| Cash received from acquisition of Maxim, net of cash paid | 0 | 2,450,550 | 0 |
| Other | 41,940 | 36,651 | (14,831) |
| Net cash (used for) provided by investing activities | (657,368) | 2,143,525 | (180,523) |
| Cash flows from financing activities: | |||
| Proceeds from debt | 296,130 | 3,939,640 | 395,646 |
| Early termination of debt | (519,116) | (3,591,982) | 0 |
| Debt repayments | 0 | 0 | (750,000) |
| Payments on revolver | (400,000) | (400,000) | (350,000) |
| Proceeds from revolver | 400,000 | 400,000 | 350,000 |
| Payment on derivative instrument | 0 | (153,161) | 0 |
| Prepayment for stock repurchases | 0 | (500,000) | 0 |
| Dividend payments to shareholders | (1,544,552) | (1,109,344) | (886,155) |
| Repurchase of common stock | (2,577,015) | (2,605,144) | (244,487) |
| Proceeds from employee stock plans | 33,887 | 63,105 | 68,403 |
| Other | 19,946 | (2,778) | (4,015) |
| Net cash used for financing activities | (4,290,720) | (3,959,664) | (1,420,608) |
| Effect of exchange rate changes on cash | (34,706) | 3,174 | 182 |
| Net (decrease) increase in cash and cash equivalents | (507,392) | 922,104 | 407,538 |
| Cash and cash equivalents at beginning of year | 1,977,964 | 1,055,860 | |
| Cash and cash equivalents at end of year | 1,470,572 | 1,977,964 | 1,055,860 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ANALOG DEVICES INC | ||
Ticker: ADI Fiscal Year: 2022 | ||
Consolidated Balance Sheets | ||
Period Ending Oct 29, 2022 10-K (Filed: Nov 22, 2022) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Oct 29, 2022 | Oct 30, 2021 | |
| ASSETS | ||
| Current Assets | ||
| Cash and cash equivalents | $ 1,470,572 | 1,977,964 |
| Accounts receivable less allowances of $4,571 ($2,658 in 2021) | 1,800,462 | 1,459,056 |
| Inventories | 1,399,914 | 1,200,610 |
| Prepaid expenses and other current assets | 267,044 | 740,687 |
| Total current assets | 4,937,992 | 5,378,317 |
| Other Assets | ||
| Net property, plant and equipment | 2,401,304 | 1,979,051 |
| Other investments | 122,285 | 127,856 |
| Goodwill | 26,913,134 | 26,918,470 |
| Intangible assets, net | 13,265,406 | 15,267,170 |
| Deferred tax assets | 2,264,888 | 2,267,269 |
| Other assets | 397,341 | 383,938 |
| Total other assets | 45,364,358 | 46,943,754 |
| Total assets | 50,302,350 | 52,322,071 |
| LIABILITIES AND SHAREHOLDERS EQUITY | ||
| Current Liabilities | ||
| Accounts payable | 582,160 | 443,434 |
| Income taxes payable | 265,845 | 332,685 |
| Debt, current | 0 | 516,663 |
| Accrued liabilities | 1,594,650 | 1,477,530 |
| Total current liabilities | 2,442,655 | 2,770,312 |
| Non-current Liabilities | ||
| Long-term debt | 6,548,625 | 6,253,212 |
| Deferred income taxes | 3,622,538 | 3,938,830 |
| Income taxes payable | 707,846 | 811,337 |
| Other non-current liabilities | 515,363 | 555,838 |
| Total non-current liabilities | 11,394,372 | 11,559,217 |
| 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, 509,295,941 shares outstanding (525,330,672 on October 30, 2021) | 84,880 | 87,554 |
| Capital in excess of par value | 27,857,270 | 30,574,237 |
| Retained earnings | 8,721,325 | 7,517,316 |
| Accumulated other comprehensive loss | (198,152) | (186,565) |
| Total shareholders equity | 36,465,323 | 37,992,542 |
| Liabilities and shareholders' equity | 50,302,350 | 52,322,071 |
| External Links | |
| ANALOG DEVICES INC (ADI) Fiscal Year 2022 | |
| 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 |