Maxim Integrated Reports Results For The First Quarter Of Fiscal 2021

 


CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS



(Unaudited)




Three Months Ended




September 26, 2020


June 27, 2020


September 28, 2019




(in thousands)



Cash flows from operating activities:








Net income

$                       169,514


$                     207,298


$                     140,156



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








Stock-based compensation

35,730


23,290


24,671



Depreciation and amortization

24,199


36,384


23,921



Deferred taxes

(1,103)


14,386


453



Loss from sale of property, plant and equipment

63


557


376



Other Adjustments

1,867


2,127


27



Changes in assets and liabilities:








Accounts receivable

(44,798)


(24,078)


(10,300)



Inventories

(5,986)


(34,562)


10,578



Other assets

4,159


(25,769)


(52,443)



Accounts payable

(3,423)


5,405


1,242



Price adjustment and other revenue reserves

(4,461)


37,681


(10,284)



Income taxes payable

(14,710)


(45,855)


(25,341)



All other accrued liabilities

1,460


15,465


38,214



Net cash provided by operating activities

162,511


212,329


141,270



Cash flows from investing activities:








Purchases of property, plant and equipment

(12,728)


(15,680)


(20,631)



Proceeds from sales of property, plant and equipment

4


124


43



Proceeds from sales of available-for-sale securities


1,290




Proceeds from maturity of available-for-sale securities

18,425


10,734


42,921



Payment in connection with business acquisition, net of cash acquired


(69,270)




Purchases of investments in privately-held companies

(84)


(1,840)




Proceeds from sale of investments in privately-held companies

25


205


516



Other investing activities


2


(35)



Net cash provided by (used in) investing activities

5,642


(74,435)


22,814



Cash flows from financing activities:








Net issuance of restricted stock units and awards

(17,018)


(6,741)


(9,943)



Proceeds from stock options exercised

2,632


2,240


7,482



Issuance of common stock under employee stock purchase program


23,725




Repurchase of common stock

(9,201)


(82,299)


(93,552)



Dividends paid

(128,147)


(128,058)


(130,222)



Net cash used in financing activities

(151,734)


(191,133)


(226,235)



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

16,419


(53,239)


(62,151)



Cash, cash equivalents and restricted cash








Beginning of period

$                    1,585,428


$                  1,638,667


$                  1,757,342



End of period

$                    1,601,847


$                  1,585,428


$                  1,695,191











Total cash, cash equivalents, and short-term investments

$                    1,612,111


$                  1,614,206


$                  1,793,367











Cash, cash equivalents and restricted cash:








Cash and cash equivalents

$                    1,595,089


$                  1,578,670


$                  1,695,191



Restricted cash in Other assets

6,758


6,758




Total cash, cash equivalents and restricted cash

$                    1,601,847


$                  1,585,428


$                  1,695,191











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