Maxim Integrated Reports Results For The Fourth Quarter Of Fiscal 2021

 


CONSOLIDATED STATEMENTS OF CASH FLOWS



(Unaudited)




Three Months Ended


Year Ended




June 26, 2021


March 27, 2021


June 27, 2020


June 26, 2021


June 27, 2020




(in thousands, except per share data)



Cash flows from operating activities:












Net income

$         253,739


$             220,063


$         207,298


$         827,261


$         654,694



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












Stock-based compensation

20,176


20,878


23,290


107,993


95,431



Depreciation and amortization

23,564


24,552


36,384


96,456


108,533



Deferred taxes

(4,047)


1,601


14,386


(5,331)


8,994



In Process Research and Development written-off

-


-


-


1,220


-



Loss from sale or disposal of property, plant and equipment

(611)


124


557


(260)


1,191



Fair value contingent consideration

-


5,835


-


5,835


-



Other adjustments

(95)


2,413


2,127


1,745


11,353



Changes in assets and liabilities:












Accounts receivable

(87,794)


(85,236)


(24,078)


(254,229)


(42,335)



Inventories

4,890


18,950


(34,562)


21,896


(8,671)



Other assets

(6,759)


(4,875)


(25,769)


(17,343)


(86,299)



Accounts payable

17,384


(719)


5,405


22,187


7,594



Price adjustment and other revenue reserves

45,052


34,118


37,681


110,673


48,426



Income taxes payable

(11,900)


8,021


(45,855)


(34,997)


(74,814)



All other accrued liabilities

26,211


25,715


15,465


41,154


76,758



Net cash provided by operating activities

279,810


271,440


212,329


924,260


800,855



Cash flows from investing activities:












Purchases of property, plant and equipment

(19,500)


(16,229)


(15,680)


(64,942)


(67,049)



Proceeds from sales of property, plant and equipment

11


16


124


94


392



Proceeds from sales of available-for-sale securities

-


-


1,290


1,500


1,290



Proceeds from maturity of available-for-sale securities

-


8,876


10,734


33,901


104,286



Payment in connection with business acquisition, net of cash acquired

-


-


(69,270)


-


(69,270)



Purchases of investments in privately-held companies

-


(1,235)


(1,840)


(1,345)


(1,960)



Proceeds from sale of investments in privately-held companies

242


-


205


281


378



Other investing activities

-


-


2


-


(116)



Net cash provided by (used in) investing activities

(19,247)


(8,572)


(74,435)


(30,511)


(32,049)



Cash flows from financing activities:












Contingent consideration paid

-


(10,000)


-


(10,000)


(8,000)



Net issuance of restricted stock units

(9,964)


(15,932)


(6,741)


(61,880)


(35,877)



Proceeds from stock options exercised

82


76


2,240


2,965


18,870



Issuance of common stock under employee stock purchase program

-


-


23,725


18,498


42,260



Repurchase of common stock

-


-


(82,299)


(9,201)


(440,811)



Dividends paid

-


-


(128,058)


(128,147)


(517,162)



Net cash used in financing activities

(9,882)


(25,856)


(191,133)


(187,765)


(940,720)



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

250,681


237,012


(53,239)


705,984


(171,914)



Cash, cash equivalents and restricted cash 












Beginning of period

$      2,040,731


$          1,803,719


$      1,638,667


$      1,585,428


$      1,757,342



End of period

$      2,291,412


$          2,040,731


$      1,585,428


$      2,291,412


$      1,585,428















Total cash, cash equivalents, and short-term investments

$      2,291,399


$          2,033,973


$      1,614,206


$      2,291,399


$      1,614,206















Cash, cash equivalents and restricted cash:












Cash and cash equivalents

$      2,291,399


$          2,033,973


$      1,578,670


$      2,291,399


$      1,578,670



Restricted cash in Other assets

13


6,758


6,758


13


6,758



Total cash, cash equivalents and restricted cash

$      2,291,412


$          2,040,731


$      1,585,428


$      2,291,412


$      1,585,428















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