10-Q Filing

ANALOG DEVICES INC CIK: 6281 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0000006281-23-000031`
Period End Date	20230131
Filing Date	20230215
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	adi-20230128_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 40 Cash Flow Statement 52 Stockholders Equity 14 Comprehensive Income 12

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$1.00	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	471,934.00	shares	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	471,934.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.47B	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.67B	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.16	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.63B	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.16	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.80B	USD	Point-in-time
Inventories	`InventoryNet`	$1.40B	USD	Point-in-time
Inventories	`InventoryNet`	$1.52B	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	1.20B	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	1.20B	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$338.23M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	505.85M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$267.04M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	509.30M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$5.16B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.94B	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$2.52B	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$2.40B	USD	Point-in-time
Goodwill	`Goodwill`	$26.91B	USD	Point-in-time
Goodwill	`Goodwill`	$26.91B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$13.27B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$12.76B	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$2.26B	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$2.27B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$604.82M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$519.63M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$45.36B	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$45.07B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$50.30B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$50.23B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$534.66M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$582.16M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$513.94M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$265.85M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.39B	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.59B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.43B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.44B	USD	Point-in-time
Long-term debt	`UnsecuredLongTermDebt`	$6.54B	USD	Point-in-time
Long-term debt	`UnsecuredLongTermDebt`	$6.55B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$3.62B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$3.48B	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesNoncurrent`	$707.85M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesNoncurrent`	$712.38M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$536.69M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$515.36M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$11.39B	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$11.27B	USD	Point-in-time
Preferred stock, $1.00 par value, 471,934 shares authorized, none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $1.00 par value, 471,934 shares authorized, none outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.16 2/3 par value, 1,200,000,000 shares authorized, 505,852,499 shares outstanding (509,295,941 on October 29, 2022)	`CommonStockValue`	$84.88M	USD	Point-in-time
Common stock, $0.16 2/3 par value, 1,200,000,000 shares authorized, 505,852,499 shares outstanding (509,295,941 on October 29, 2022)	`CommonStockValue`	$84.31M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$27.86B	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$27.32B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$9.30B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$8.72B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-169.73M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-198.15M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$36.53B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$36.47B	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$50.30B	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$50.23B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.25B	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.68B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.28B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.13B	USD	1 Quarter
Gross margin	`GrossProfit`	$1.40B	USD	1 Quarter
Gross margin	`GrossProfit`	$2.12B	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$426.78M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$414.10M	USD	1 Quarter
Selling, marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$297.37M	USD	1 Quarter
Selling, marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$326.28M	USD	1 Quarter
Amortization of intangibles	`OperatingExpensesAmortizationOfIntangibles`	$253.14M	USD	1 Quarter
Amortization of intangibles	`OperatingExpensesAmortizationOfIntangibles`	$253.37M	USD	1 Quarter
Special charges, net	`RestructuringSettlementAndImpairmentProvisions`	$59.73M	USD	1 Quarter
Special charges, net	`RestructuringSettlementAndImpairmentProvisions`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$993.52M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$1.04B	USD	1 Quarter
Operating income:	`OperatingIncomeLoss`	$1.13B	USD	1 Quarter
Operating income:	`OperatingIncomeLoss`	$364.76M	USD	1 Quarter
Interest expense	`InterestExpense`	$60.45M	USD	1 Quarter
Interest expense	`InterestExpense`	$51.96M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$10.83M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$218.00K	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-7.72M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$10.54M	USD	1 Quarter
Total nonoperating expense (income)	`NonoperatingIncomeExpense`	$-41.20M	USD	1 Quarter
Total nonoperating expense (income)	`NonoperatingIncomeExpense`	$-57.35M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.07B	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$323.56M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$112.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$43.48M	USD	1 Quarter
Net income	`NetIncomeLoss`	$280.08M	USD	1 Quarter
Net income	`NetIncomeLoss`	$961.47M	USD	1 Quarter
Shares used to compute earnings per common share basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	525.29M	shares	1 Quarter
Shares used to compute earnings per common share basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	507.12M	shares	1 Quarter
Shares used to compute earnings per common share diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	511.18M	shares	1 Quarter
Shares used to compute earnings per common share diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	530.14M	shares	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.53	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$1.90	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.53	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$1.88	USD	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$280.08M	USD	1 Quarter
Net income	`NetIncomeLoss`	$961.47M	USD	1 Quarter
Depreciation	`Depreciation`	$85.32M	USD	1 Quarter
Depreciation	`Depreciation`	$65.17M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$502.18M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$504.64M	USD	1 Quarter
Cost of goods sold for inventory acquired	`CostOfGoodsAndServicesSoldForInventoryAcquired`	-	USD	1 Quarter
Cost of goods sold for inventory acquired	`CostOfGoodsAndServicesSoldForInventoryAcquired`	$271.40M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$86.94M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$75.04M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-146.35M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-34.65M	USD	1 Quarter
Non-cash operating lease costs	`NonCashOperatingLeaseCosts`	$-2.65M	USD	1 Quarter
Non-cash operating lease costs	`NonCashOperatingLeaseCosts`	$7.82M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$9.57M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-12.38M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$315.41M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$81.09M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$576.34M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$444.83M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$856.41M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.41B	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$111.13M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$176.16M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-7.82M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-102.00K	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-176.06M	USD	1 Quarter
Net cash used for investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-103.31M	USD	1 Quarter
Early termination of debt	`EarlyRepaymentOfSeniorDebt`	$519.12M	USD	1 Quarter
Early termination of debt	`EarlyRepaymentOfSeniorDebt`	-	USD	1 Quarter
Dividend payments to shareholders	`PaymentsOfDividendsCommonStock`	$362.64M	USD	1 Quarter
Dividend payments to shareholders	`PaymentsOfDividendsCommonStock`	$385.45M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$654.56M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$76.02M	USD	1 Quarter
Proceeds from employee stock plans	`ProceedsFromStockPlans`	$8.47M	USD	1 Quarter
Proceeds from employee stock plans	`ProceedsFromStockPlans`	$41.24M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$12.04M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-31.59M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-937.27M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.03B	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-3.40M	USD	1 Quarter
Effect of exchange rate changes on cash	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	-	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-187.56M	USD	1 Quarter
Net increase (decrease) in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$199.89M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.79B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.98B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.47B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.67B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.79B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.98B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.47B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.67B	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Dividends (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.76	USD	1 Quarter
Dividends (in dollars per share)	`CommonStockDividendsPerShareCashPaid`	$0.69	USD	1 Quarter
Beginning balance (in shares)	`CommonStockSharesOutstanding`	505.85M	shares	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	509.30M	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$36.53B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$36.47B	USD	Point-in-time
Net income	`NetIncomeLoss`	$280.08M	USD	1 Quarter
Net income	`NetIncomeLoss`	$961.47M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$28.42M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-2.05M	USD	1 Quarter
Ending balance (in shares)	`CommonStockSharesOutstanding`	505.85M	shares	Point-in-time
Ending balance (in shares)	`CommonStockSharesOutstanding`	509.30M	shares	Point-in-time
Ending balance	`StockholdersEquity`	$36.53B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$36.47B	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$280.08M	USD	1 Quarter
Net income	`NetIncomeLoss`	$961.47M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$2.50M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-4.60M	USD	1 Quarter
Change in fair value of derivative instruments designated as cash flow hedges, net	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$25.47M	USD	1 Quarter
Change in fair value of derivative instruments designated as cash flow hedges, net	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$1.05M	USD	1 Quarter
Changes in pension plans, net actuarial gain/loss and foreign currency translation adjustments, net	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-1.50M	USD	1 Quarter
Changes in pension plans, net actuarial gain/loss and foreign currency translation adjustments, net	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$-452.00K	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$28.42M	USD	1 Quarter
Other comprehensive income (loss)	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$-2.05M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$989.89M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$278.02M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.