ANALOG DEVICES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In thousands) |
||||||||||||||||
|
Three Months Ended |
|
Six Months Ended |
|||||||||||||
|
Apr. 29, 2023 |
|
Apr. 30, 2022 |
|
Apr. 29, 2023 |
|
|
Apr. 30, 2022 |
||||||||
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
||||||||
Net income |
$ |
977,656 |
|
|
$ |
783,273 |
|
|
$ |
1,939,130 |
|
|
|
$ |
1,063,350 |
|
Adjustments to reconcile net income to net cash provided by operations: |
|
|
|
|
|
|
|
|
||||||||
Depreciation |
|
80,260 |
|
|
|
71,851 |
|
|
|
165,581 |
|
|
|
|
137,016 |
|
Amortization of intangibles |
|
501,536 |
|
|
|
504,255 |
|
|
|
1,003,713 |
|
|
|
|
1,008,900 |
|
Stock-based compensation expense |
|
69,102 |
|
|
|
70,996 |
|
|
|
144,143 |
|
|
|
|
157,935 |
|
| Cost of goods sold for inventory acquired |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
271,396 |
|
| Deferred income taxes |
|
(133,756 |
) |
|
|
(88,341 |
) |
|
|
(280,110 |
) |
|
|
|
(122,992 |
) |
| Non-cash operating lease costs |
|
(4,256 |
) |
|
|
(35,520 |
) |
|
|
(6,902 |
) |
|
|
|
(27,697 |
) |
| Other |
|
(2,708 |
) |
|
|
(654 |
) |
|
|
9,670 |
|
|
|
|
(10,225 |
) |
| Changes in operating assets and liabilities |
|
(406,253 |
) |
|
|
(84,054 |
) |
|
|
(487,339 |
) |
|
|
|
(399,463 |
) |
| Total adjustments |
|
103,925 |
|
|
|
438,533 |
|
|
|
548,756 |
|
|
|
|
1,014,870 |
|
| Net cash provided by operating activities |
|
1,081,581 |
|
|
|
1,221,806 |
|
|
|
2,487,886 |
|
|
|
|
2,078,220 |
|
| Cash flows from investing activities: |
|
|
|
|
|
|
|
|
||||||||
| Additions to property, plant and equipment |
|
(284,338 |
) |
|
|
(118,779 |
) |
|
|
(460,496 |
) |
|
|
|
(229,912 |
) |
| Other |
|
(183 |
) |
|
|
5,186 |
|
|
|
(81 |
) |
|
|
|
13,010 |
|
| Net cash used for investing activities |
|
(284,521 |
) |
|
|
(113,593 |
) |
|
|
(460,577 |
) |
|
|
|
(216,902 |
) |
| Cash flows from financing activities: |
|
|
|
|
|
|
|
|
||||||||
| Early termination of debt |
|
(65,688 |
) |
|
|
— |
|
|
|
(65,688 |
) |
|
|
|
(519,116 |
) |
| Dividend payments to shareholders |
|
(435,213 |
) |
|
|
(397,544 |
) |
|
|
(820,665 |
) |
|
|
|
(760,189 |
) |
| Repurchase of common stock |
|
(1,152,951 |
) |
|
|
(776,840 |
) |
|
|
(1,807,508 |
) |
|
|
|
(852,860 |
) |
| Proceeds from employee stock plans |
|
25,774 |
|
|
|
11,582 |
|
|
|
67,012 |
|
|
|
|
20,054 |
|
| Proceeds from commercial paper notes |
|
253,635 |
|
|
|
— |
|
|
|
253,635 |
|
|
|
|
— |
|
| Other |
|
84,530 |
|
|
|
14,617 |
|
|
|
52,942 |
|
|
|
|
26,657 |
|
| Net cash used for financing activities |
|
(1,289,913 |
) |
|
|
(1,148,185 |
) |
|
|
(2,320,272 |
) |
|
|
|
(2,085,454 |
) |
| Effect of exchange rate changes on cash |
|
— |
|
|
|
(12,694 |
) |
|
|
— |
|
|
|
|
(16,095 |
) |
| Net decrease in cash and cash equivalents |
|
(492,853 |
) |
|
|
(52,666 |
) |
|
|
(292,963 |
) |
|
|
|
(240,231 |
) |
| Cash and cash equivalents at beginning of period |
|
1,670,462 |
|
|
|
1,790,399 |
|
|
|
1,470,572 |
|
|
|
|
1,977,964 |
|
| Cash and cash equivalents at end of period |
$ |
1,177,609 |
|
|
$ |
1,737,733 |
|
|
$ |
1,177,609 |
|
|
|
$ |
1,737,733 |
|
