Analog Devices Reports Fourth Quarter and Fiscal Year 2016 Results

(1) Includes $2,486, $2,554, and $2,923 related to stock-based compensation in 4Q16, 3Q16, and 4Q15, respectively.

       

Analog Devices, Fourth Quarter, Fiscal 2016

 

Schedule C

Cash Flow Statement (Unaudited)

(In thousands)

   
Three Months Ended Twelve Months Ended
4Q 16     3Q 16     4Q 15 FY 16     FY 15
Oct. 29,
2016
    July 30,
2016
    Oct. 31,
2015
Oct. 29,
2016
    Oct. 31,
2015
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  
 



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