Analog Devices Reports Third Quarter 2016 Results

(1) Includes $2,554, $2,719, and $2,935 related to stock-based compensation in 3Q16, 2Q16, and 3Q15, respectively.

 
Analog Devices, Third Quarter, Fiscal 2016
 

Schedule C

Cash Flow Statement (Unaudited)
(In thousands)
       
Three Months Ended
3Q 16   2Q 16   3Q 15
July 30,
2016
  April 30,
2016
  Aug 1,
2015
Cash flows from operating activities:
Net Income $ 230,430 $ 170,573 $ 216,478
Adjustments to reconcile net income
to net cash provided by operations:
Depreciation 33,732 33,483 33,650
Amortization of intangibles 18,916 18,440 23,898
Stock-based compensation expense 16,619 15,959 16,364
Other non-cash activity 1,127 500 3,827
Excess tax benefit - stock options (2,982 ) (3,212 ) (6,373 )
Deferred income taxes 12,250 539 (17,168 )
Changes in operating assets and liabilities       (56,089 )   83,921     (73,537 )
Total adjustments       23,573     149,630     (19,339 )
Net cash provided by operating activities       254,003     320,203     197,139  
Percent of revenue       29.2 %   41.1 %   22.8 %
 
Cash flows from investing activities:
Purchases of short-term available-for-sale investments (2,284,166 ) (1,939,750 ) (1,403,600 )
Maturities of short-term available-for-sale investments 2,078,716 1,522,688 1,083,474
Sales of short-term available-for-sale investments 139,805 102,316 215,998
Additions to property, plant and equipment (37,528 ) (25,517 ) (35,164 )
Payments for acquisitions, net of cash acquired (2,203 ) (6,947 )
Change in other assets       (8,591 )   (2,746 )   (1,180 )
Net cash used for investing activities       (111,764 )   (345,212 )   (147,419 )
 
Cash flows from financing activities:
Payments for deferred financing fees (22,208 )
Dividend payments to shareholders (128,954 ) (129,925 ) (125,511 )
Repurchase of common stock (23,022 ) (213,650 ) (31,340 )
Proceeds from employee stock plans 16,633 16,480 19,988
Excess tax benefit - stock options 2,982 3,212 6,373
Contingent consideration payment (1,767 )
Change in other financing activities       (2,093 )   (2,786 )   4,327  
Net cash used for financing activities       (156,662 )   (326,669 )   (127,930 )
Effect of exchange rate changes on cash       (1,569 )   898     (509 )
 
Net decrease in cash and cash equivalents (15,992 ) (350,780 ) (78,719 )
Cash and cash equivalents at beginning of period       1,119,662     1,470,442     636,216  
Cash and cash equivalents at end of period       $ 1,103,670     $ 1,119,662     $ 557,497  
 

Analog Devices, Third Quarter, Fiscal 2016

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