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Analog Devices, Second 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 | ||||||||||||||||||
| 2Q 16 | 1Q 16 | 2Q 15 | ||||||||||||||||
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April 30,
2016 |
Jan. 30,
2016 |
May 2,
2015 |
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| Cash flows from operating activities: | ||||||||||||||||||
| Net Income | $ | 170,573 | $ | 164,504 | $ | 205,338 | ||||||||||||
| Adjustments to reconcile net income | ||||||||||||||||||
| to net cash provided by operations: | ||||||||||||||||||
| Depreciation | 33,483 | 33,209 | 32,036 | |||||||||||||||
| Amortization of intangibles | 18,440 | 18,347 | 25,154 | |||||||||||||||
| Stock-based compensation expense | 15,959 | 15,609 | 16,101 | |||||||||||||||
| Loss on extinguishment of debt | — | 3,290 | — | |||||||||||||||
| Other non-cash activity | 500 | 744 | 1,832 | |||||||||||||||
| Excess tax benefit - stock options | (3,212 | ) | (986 | ) | (11,142 | ) | ||||||||||||
| Deferred income taxes | 539 | (7,717 | ) | (6,481 | ) | |||||||||||||
| Changes in operating assets and liabilities | 83,921 | (7,295 | ) | 81,193 | ||||||||||||||
| Total adjustments | 149,630 | 55,201 | 138,693 | |||||||||||||||
| Net cash provided by operating activities | 320,203 | 219,705 | 344,031 | |||||||||||||||
| Percent of revenue | 41.1 | % | 28.6 | % | 41.9 | % | ||||||||||||
| Cash flows from investing activities: | ||||||||||||||||||
| Purchases of short-term available-for-sale investments | (1,939,750 | ) | (1,632,014 | ) | (1,661,176 | ) | ||||||||||||
| Maturities of short-term available-for-sale investments | 1,522,688 | 1,409,538 | 1,154,412 | |||||||||||||||
| Sales of short-term available-for-sale investments | 102,316 | 47,950 | 291,900 | |||||||||||||||
| Additions to property, plant and equipment | (25,517 | ) | (23,128 | ) | (49,229 | ) | ||||||||||||
| Payments for acquisitions, net of cash acquired | (2,203 | ) | — | — | ||||||||||||||
| Change in other assets | (2,746 | ) | (6,711 | ) | (4,468 | ) | ||||||||||||
| Net cash used for investing activities | (345,212 | ) | (204,365 | ) | (268,561 | ) | ||||||||||||
| 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 | (129,925 | ) | (124,658 | ) | (124,882 | ) | ||||||||||||
| Repurchase of common stock | (213,650 | ) | (131,977 | ) | (24,275 | ) | ||||||||||||
| Proceeds from employee stock plans | 16,480 | 6,229 | 52,090 | |||||||||||||||
| Excess tax benefit - stock options | 3,212 | 986 | 11,142 | |||||||||||||||
| Change in other financing activities | (2,786 | ) | (2,544 | ) | (3,563 | ) | ||||||||||||
| Net cash (used for) provided by financing activities | (326,669 | ) | 571,781 | (89,488 | ) | |||||||||||||
| Effect of exchange rate changes on cash | 898 | (1,032 | ) | 32 | ||||||||||||||
| Net (decrease) increase in cash and cash equivalents | (350,780 | ) | 586,089 | (13,986 | ) | |||||||||||||
| Cash and cash equivalents at beginning of period | 1,470,442 | 884,353 | 650,202 | |||||||||||||||
| Cash and cash equivalents at end of period | $ | 1,119,662 | $ | 1,470,442 | $ | 636,216 | ||||||||||||
Analog Devices Reports Second Quarter 2016 Results
 |  | More IC News
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(1) Includes $2,719, $2,853, and $3,066 related to stock-based
compensation in 2Q16, 1Q16, and 2Q15, respectively.
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