Maxim Integrated Reports Results For The Fourth Quarter Of Fiscal 2020

 

 


CONSOLIDATED STATEMENTS OF CASH FLOWS



(Unaudited)




Three Months Ended


Year Ended




June 27, 2020


March 28, 2020


June 29, 2019


June 27, 2020


June 29, 2019




(in thousands, except per share data)



Cash flows from operating activities:












Net income

$          207,298


$            161,190


$          367,558


$          654,694


$          827,486



Adjustments to reconcile net income to net cash provided by operating
activities:












Stock-based compensation

23,290


23,403


22,004


95,431


86,977



Depreciation and amortization

36,384


24,141


25,569


108,533


110,745



Deferred taxes

14,386


(3,161)


26,118


8,994


13,957



Loss from sale or disposal of property, plant and equipment

557


145


643


1,191


3,967



Other adjustments

2,127


3,265


(268)


11,353


(3)



Changes in assets and liabilities:












Accounts receivable, price adjustment and other revenue reserves

13,603


(23,933)


15,615


6,091


21,090



Inventories

(34,562)


3,308


26,383


(8,671)


36,003



Other assets

(25,769)


(4,710)


(11,875)


(86,299)


(14,901)



Accounts payable

5,405


(2,655)


699


7,594


(10,272)



Income taxes payable

(45,855)


2,174


(229,776)


(74,814)


(176,114)



All other accrued liabilities

15,465


26,624


(5,203)


76,758


(23,095)



Net cash provided by operating activities

212,329


209,791


237,467


800,855


875,840



Cash flows from investing activities:












Purchases of property, plant and equipment

(15,680)


(17,068)


(30,653)


(67,049)


(82,823)



Proceeds from sales of property, plant and equipment

124


97


306


392


340



Proceeds from sales of available-for-sale securities

1,290


-


-


1,290


30,192



Proceeds from maturity of available-for-sale securities

10,734


15,485


103,431


104,286


1,130,514



Payment in connection with business acquisition, net of cash acquired

(69,270)


-


-


(69,270)


(2,949)



Purchases of available-for-sale securities

-


-


-


-


(214,587)



Purchases of investments in privately-held companies

(1,840)


(120)


(1,500)


(1,960)


(3,176)



Proceeds from sale of investments in privately-held companies

205


173


-


378


-



Other investing activities

2


(50)


(60)


(116)


(600)



Net cash provided by (used in) investing activities

(74,435)


(1,483)


71,524


(32,049)


856,911



Cash flows from financing activities:












Contingent consideration paid

-


-


-


(8,000)


(9,052)



Net issuance of restricted stock units

(6,741)


(11,570)


(6,663)


(35,877)


(29,689)



Repayment of notes payable

-


-


-


-


(500,000)



Proceeds from stock options exercised

2,240


7,810


5,414


18,870


24,400



Issuance of common stock under employee stock purchase program

23,725


-


22,486


42,260


40,175



Repurchase of common stock

(82,299)


(157,003)


(102,104)


(440,811)


(539,151)



Dividends paid

(128,058)


(129,072)


(125,345)


(517,162)


(505,576)



Net cash used in financing activities

(191,133)


(289,835)


(206,212)


(940,720)


(1,518,893)



Net increase (decrease) in cash, cash equivalents and restricted cash 

(53,239)


(81,527)


102,779


(171,914)


213,858



Cash, cash equivalents and restricted cash 












Beginning of period

$       1,638,667


$        1,720,194


$       1,654,563


$       1,757,342


$       1,543,484



End of period

$       1,585,428


$        1,638,667


$       1,757,342


$       1,585,428


$       1,757,342















Total cash, cash equivalents, and short-term investments

$       1,614,206


$        1,685,776


$       1,898,332


$       1,614,206


$       1,898,332















Cash, cash equivalents and restricted cash:












Cash and cash equivalents

$       1,578,670


$        1,638,667


$       1,757,342


$       1,578,670


$       1,757,342



Restricted cash in Other assets

6,758


-


-


6,758


-



Total cash, cash equivalents and restricted cash

$       1,585,428


$        1,638,667


$       1,757,342


$       1,585,428


$       1,757,342















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