| Analog Devices, First Quarter, Fiscal 2016 | |||||||||||||||
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Schedule C |
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| Cash Flow Statement (Unaudited) | |||||||||||||||
| (In thousands) | |||||||||||||||
| Three Months Ended | |||||||||||||||
| 1Q 16 | 4Q 15 | 1Q 15 | |||||||||||||
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Jan. 30,
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Oct. 31,
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Jan. 31,
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| Cash flows from operating activities: | |||||||||||||||
| Net Income | $ | 164,504 | $ | 96,305 | $ | 178,757 | |||||||||
| Adjustments to reconcile net income | |||||||||||||||
| to net cash provided by operations: | |||||||||||||||
| Depreciation | 33,209 | 32,688 | 31,773 | ||||||||||||
| Amortization of intangibles | 18,347 | 18,302 | 24,739 | ||||||||||||
| Stock-based compensation expense | 15,609 | 16,083 | 20,371 | ||||||||||||
| Loss on extinguishment of debt | 3,290 | — | — | ||||||||||||
| Other non-cash activity | 744 | (2,428 | ) | 3,743 | |||||||||||
| Excess tax benefit - stock options | (986 | ) | (2,895 | ) | (4,635 | ) | |||||||||
| Deferred income taxes | (7,717 | ) | (25,650 | ) | (2,915 | ) | |||||||||
| Changes in operating assets and liabilities | (7,295 | ) | 65,570 | (83,180 | ) | ||||||||||
| Total adjustments | 55,201 | 101,670 | (10,104 | ) | |||||||||||
| Net cash provided by operating activities | 219,705 | 197,975 | 168,653 | ||||||||||||
| Percent of revenue | 28.6 | % | 20.2 | % | 21.8 | % | |||||||||
| Cash flows from investing activities: | |||||||||||||||
| Purchases of short-term available-for-sale investments | (1,632,014 | ) | (1,808,202 | ) | (1,211,021 | ) | |||||||||
| Maturities of short-term available-for-sale investments | 1,409,538 | 2,045,945 | 701,149 | ||||||||||||
| Sales of short-term available-for-sale investments | 47,950 | 159,546 | 583,750 | ||||||||||||
| Additions to property, plant and equipment | (23,128 | ) | (45,807 | ) | (23,760 | ) | |||||||||
| Payments for acquisitions, net of cash acquired | — | — | (118 | ) | |||||||||||
| Change in other assets | (6,711 | ) | 1,102 | (3,729 | ) | ||||||||||
| Net cash (used for) provided by investing activities | (204,365 | ) | 352,584 | 46,271 | |||||||||||
| Cash flows from financing activities: | |||||||||||||||
| Payments of senior unsecured notes | (378,156 | ) | — | — | |||||||||||
| Payments of derivative instruments | (33,430 | ) | — | — | |||||||||||
| Proceeds from debt | 1,235,331 | — | — | ||||||||||||
| Dividend payments to shareholders | (124,658 | ) | (125,582 | ) | (115,084 | ) | |||||||||
| Repurchase of common stock | (131,977 | ) | (111,702 | ) | (59,636 | ) | |||||||||
| Proceeds from employee stock plans | 6,229 | 7,760 | 42,793 | ||||||||||||
| Excess tax benefit - stock options | 986 | 2,895 | 4,635 | ||||||||||||
| Change in other financing activities | (2,544 | ) | 3,724 | (3,988 | ) | ||||||||||
| Net cash provided by (used for) financing activities | 571,781 | (222,905 | ) | (131,280 | ) | ||||||||||
| Effect of exchange rate changes on cash | (1,032 | ) | (798 | ) | (2,675 | ) | |||||||||
| Net increase in cash and cash equivalents | 586,089 | 326,856 | 80,969 | ||||||||||||
| Cash and cash equivalents at beginning of period | 884,353 | 557,497 | 569,233 | ||||||||||||
| Cash and cash equivalents at end of period | $ | 1,470,442 | $ | 884,353 | $ | 650,202 | |||||||||
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Analog Devices Reports First Quarter 2016 Results
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