Maxim Integrated Reports Results For The Second Quarter Of Fiscal 2020

 


CONSOLIDATED STATEMENTS OF CASH FLOWS



(Unaudited)




Three Months Ended




December 28, 2019


September 28, 2019


December 29, 2018




(in thousands)



Cash flows from operating activities:








Net income (loss)

$                         146,050


$                           140,156


$                         131,892



Adjustments to reconcile net income (loss) to net cash provided by operating activities:








Stock-based compensation

24,067


24,671


21,656



Depreciation and amortization

24,087


23,921


26,803



Deferred taxes

(2,684)


453


(5,174)



Loss (gain) from disposal of property, plant and equipment

113


376


2,275



Other adjustments

5,934


27


753



Changes in assets and liabilities:








Accounts receivable

37,005


(20,584)


43,402



Inventories

12,005


10,578


(3,505)



Other assets

(3,377)


(52,443)


6,038



Accounts payable

3,602


1,242


7,664



Income taxes payable

(5,792)


(25,341)


(482)



Accrued salary and related expenses

(1,429)


(22,536)


(375)



Other liabilities

(2,116)


60,750


(6,697)



Net cash provided by (used in) operating activities

237,465


141,270


224,250



Cash flows from investing activities:








Purchase of property, plant and equipment

(13,670)


(20,631)


(12,597)



Proceeds from sales of property, plant and equipment

128


43


1



Proceeds from sale of available-for-sale securities



18,815



Proceeds from maturity of available-for-sale securities

35,146


42,921


416,720



Purchases of available-for-sale securities



(23,707)



Purchases of private company investments

(516)



(156)



Proceeds from private company investments


516




Other investing activities

(33)


(35)




Net cash provided by (used in) investing activities

21,055


22,814


399,076



Cash flows from financing activities:








Repayment of debt



(500,000)



Contingent consideration paid

(8,000)





Net issuance of restricted stock units

(7,623)


(9,943)


(5,916)



Proceeds from stock options exercised

1,338


7,482


7,235



Issuance of common stock under employee stock purchase program

18,535



17,689



Repurchase of common stock

(107,957)


(93,552)


(207,558)



Dividends paid

(129,810)


(130,222)


(126,808)



Net cash provided by (used in) financing activities

(233,517)


(226,235)


(815,358)



Net increase (decrease) in cash and cash equivalents

25,003


(62,151)


(192,032)



Cash and cash equivalents:








Beginning of period

$                      1,695,191


$                        1,757,342


$                      1,598,772



End of period

$                      1,720,194


$                        1,695,191


$                      1,406,740



Total cash, cash equivalents, and short-term investments

$                      1,783,200


$                        1,793,367


$                      1,960,641











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