(Unaudited)
(In thousands)
|
Three Months Ended |
|
Twelve Months Ended |
||||||||
|
Oct. 28, 2023 |
|
Oct. 29, 2022 |
|
Oct. 28, 2023 |
|
Oct. 29, 2022 |
||||
Cash flows from operating activities: |
|
|
|
|
|
|
|
||||
Net income |
$ |
498,430 |
|
$ |
936,226 |
|
$ |
3,314,579 |
|
$ |
2,748,561 |
Adjustments to reconcile net income to net cash provided by operations: |
|
|
|
|
|
|
|
||||
Depreciation |
|
82,919 |
|
|
70,703 |
|
|
334,704 |
|
|
283,338 |
Amortization of intangibles |
|
453,198 |
|
|
501,911 |
|
|
1,958,399 |
|
|
2,014,161 |
Cost of goods sold for inventory acquired |
|
— |
|
|
— |
|
|
— |
|
|
271,396 |
Stock-based compensation expense |
|
72,710 |
|
|
80,678 |
|
|
299,823 |
|
|
323,487 |
Non-cash impairment charge |
|
— |
|
|
— |
|
|
— |
|
|
91,953 |
| Deferred income taxes |
|
(21,553) |
|
|
(121,627) |
|
|
(452,946) |
|
|
(326,755) |
| Other |
|
(10,465) |
|
|
(17,703) |
|
|
8,665 |
|
|
(47,074) |
| Changes in operating assets and liabilities |
|
112,055 |
|
|
(300,852) |
|
|
(645,590) |
|
|
(883,665) |
| Total adjustments |
|
688,864 |
|
|
213,110 |
|
|
1,503,055 |
|
|
1,726,841 |
| Net cash provided by operating activities |
|
1,187,294 |
|
|
1,149,336 |
|
|
4,817,634 |
|
|
4,475,402 |
| Percent of revenue |
|
44 % |
|
|
35 % |
|
|
39 % |
|
|
37 % |
| Cash flows from investing activities: |
|
|
|
|
|
|
|
||||
| Additions to property, plant and equipment, net |
|
(476,393) |
|
|
(304,512) |
|
|
(1,261,463) |
|
|
(699,308) |
| Other |
|
(2,668) |
|
|
(1,821) |
|
|
(4,922) |
|
|
41,940 |
| Net cash used for investing activities |
|
(479,061) |
|
|
(306,333) |
|
|
(1,266,385) |
|
|
(657,368) |
| Cash flows from financing activities: |
|
|
|
|
|
|
|
||||
| Proceeds from debt |
|
— |
|
|
296,130 |
|
|
— |
|
|
296,130 |
| Early termination of debt |
|
— |
|
|
— |
|
|
(65,688) |
|
|
(519,116) |
| Payments on revolver |
|
— |
|
|
— |
|
|
— |
|
|
(400,000) |
| Proceeds from revolver |
|
— |
|
|
— |
|
|
— |
|
|
400,000 |
| Proceeds from commercial paper notes |
|
2,640,615 |
|
|
— |
|
|
5,287,124 |
|
|
— |
| Payments of commercial paper notes |
|
(2,638,101) |
|
|
— |
|
|
(4,739,900) |
|
|
— |
| Dividend payments to shareholders |
|
(427,974) |
|
|
(390,345) |
|
|
(1,679,106) |
|
|
(1,544,552) |
| Repurchase of common stock |
|
(469,937) |
|
|
(818,182) |
|
|
(2,963,955) |
|
|
(2,577,015) |
| Proceeds from employee stock plans |
|
5,606 |
|
|
3,873 |
|
|
118,608 |
|
|
33,887 |
| Other |
|
(9,627) |
|
|
21,664 |
|
|
(20,843) |
|
|
19,946 |
| Net cash used for financing activities |
|
(899,418) |
|
|
(886,860) |
|
|
(4,063,760) |
|
|
(4,290,720) |
| Effect of exchange rate changes on cash |
|
— |
|
|
(10,531) |
|
|
— |
|
|
(34,706) |
| Net decrease in cash and cash equivalents |
|
(191,185) |
|
|
(54,388) |
|
|
(512,511) |
|
|
(507,392) |
| Cash and cash equivalents at beginning of period |
|
1,149,246 |
|
|
1,524,960 |
|
$ |
1,470,572 |
|
$ |
1,977,964 |
| Cash and cash equivalents at end of period |
$ |
958,061 |
|
$ |
1,470,572 |
|
$ |
958,061 |
|
$ |
1,470,572 |
|
|
|
|
|
|
|
|
|
||||
ANALOG DEVICES, INC.
