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Analog Devices, Fourth Quarter, Fiscal 2016 |
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Schedule C |
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Cash Flow Statement (Unaudited) |
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(In thousands) |
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| Three Months Ended | Twelve Months Ended | ||||||||||||||||||||||||
| 4Q 16 | 3Q 16 | 4Q 15 | FY 16 | FY 15 | |||||||||||||||||||||
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Oct. 29,
2016 |
July 30,
2016 |
Oct. 31,
2015 |
Oct. 29,
2016 |
Oct. 31,
2015 |
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| Cash flows from operating activities: | |||||||||||||||||||||||||
| Net Income | $ | 296,157 | $ | 230,430 | $ | 96,305 | $ | 861,664 | $ | 696,878 | |||||||||||||||
| Adjustments to reconcile net income | |||||||||||||||||||||||||
| to net cash provided by operations: | |||||||||||||||||||||||||
| Depreciation | 34,116 | 33,732 | 32,688 | 134,540 | 130,147 | ||||||||||||||||||||
| Amortization of intangibles | 19,547 | 18,916 | 18,302 | 75,250 | 92,093 | ||||||||||||||||||||
| Stock-based compensation expense | 15,234 | 16,619 | 16,083 | 63,421 | 68,919 | ||||||||||||||||||||
| Loss on extinguishment of debt | — | — | — | 3,290 | — | ||||||||||||||||||||
| Other non-cash activity | 22,199 | 1,127 | (2,428 | ) | 24,570 | 6,974 | |||||||||||||||||||
| Excess tax benefit - equity based awards | (3,273 | ) | (2,982 | ) | (2,895 | ) | (10,453 | ) | (25,045 | ) | |||||||||||||||
| Deferred income taxes | (12,941 | ) | 12,250 | (25,650 | ) | 8,124 | (52,214 | ) | |||||||||||||||||
| Changes in operating assets and liabilities | 115,945 | (56,089 | ) | 65,570 | 120,489 | (9,954 | ) | ||||||||||||||||||
| Total adjustments | 190,827 | 23,573 | 101,670 | 419,231 | 210,920 | ||||||||||||||||||||
| Net cash provided by operating activities | 486,984 | 254,003 | 197,975 | 1,280,895 | 907,798 | ||||||||||||||||||||
| Percent of revenue | 48.5 | % | 29.2 | % | 20.2 | % | 37.4 | % | 26.4 | % | |||||||||||||||
| Cash flows from investing activities: | |||||||||||||||||||||||||
| Purchases of short-term available-for-sale investments | (1,841,330 | ) | (2,284,166 | ) | (1,808,202 | ) | (7,697,260 | ) | (6,083,999 | ) | |||||||||||||||
| Maturities of short-term available-for-sale investments | 1,364,419 | 2,078,716 | 2,045,945 | 6,375,361 | 4,984,980 | ||||||||||||||||||||
| Sales of short-term available-for-sale investments | 42,645 | 139,805 | 159,546 | 332,716 | 1,251,194 | ||||||||||||||||||||
| Additions to property, plant and equipment | (41,224 | ) | (37,528 | ) | (45,807 | ) | (127,397 | ) | (153,960 | ) | |||||||||||||||
| Payments for acquisitions, net of cash acquired | (80,967 | ) | — | — | (83,170 | ) | (7,065 | ) | |||||||||||||||||
| Change in other assets | (472 | ) | (8,591 | ) | 1,102 | (18,520 | ) | (8,275 | ) | ||||||||||||||||
| Net cash (used for) provided by investing activities | (556,929 | ) | (111,764 | ) | 352,584 | (1,218,270 | ) | (17,125 | ) | ||||||||||||||||
| Cash flows from financing activities: | |||||||||||||||||||||||||
| Early Termination of debt | — | — | — | (378,156 | ) | — | |||||||||||||||||||
| Payments of derivative instruments | — | — | — | (33,430 | ) | — | |||||||||||||||||||
| Proceeds from debt | — | — | — | 1,235,331 | — | ||||||||||||||||||||
| Payments of deferred financing fees | (4,375 | ) | (22,208 | ) | — | (26,583 | ) | — | |||||||||||||||||
| Dividend payments to shareholders | (129,643 | ) | (128,954 | ) | (125,582 | ) | (513,180 | ) | (491,059 | ) | |||||||||||||||
| Repurchase of common stock | (1,412 | ) | (23,022 | ) | (111,702 | ) | (370,061 | ) | (226,953 | ) | |||||||||||||||
| Proceeds from employee stock plans | 22,154 | 16,633 | 7,760 | 61,496 | 122,631 | ||||||||||||||||||||
| Excess tax benefit - equity based awards | 3,273 | 2,982 | 2,895 | 10,453 | 25,045 | ||||||||||||||||||||
| Contingent consideration payment | (1,409 | ) | — | — | (1,409 | ) | (1,767 | ) | |||||||||||||||||
| Change in other financing activities | 45 | (2,093 | ) | 3,724 | (7,378 | ) | 500 | ||||||||||||||||||
| Net cash used for financing activities | (111,367 | ) | (156,662 | ) | (222,905 | ) | (22,917 | ) | (571,603 | ) | |||||||||||||||
| Effect of exchange rate changes on cash | (1,226 | ) | (1,569 | ) | (798 | ) | (2,929 | ) | (3,950 | ) | |||||||||||||||
| Net (decrease) increase in cash and cash equivalents | (182,538 | ) | (15,992 | ) | 326,856 | 36,779 | 315,120 | ||||||||||||||||||
| Cash and cash equivalents at beginning of period | 1,103,670 | 1,119,662 | 557,497 | 884,353 | 569,233 | ||||||||||||||||||||
| Cash and cash equivalents at end of period | $ | 921,132 | $ | 1,103,670 | $ | 884,353 | $ | 921,132 | $ | 884,353 | |||||||||||||||
