10-Q Filing

ANALOG DEVICES INC CIK: 6281 Q1 2024

Filing Information

Form Type	10-Q
Accession Number	`0000006281-24-000034`
Period End Date	20240131
Filing Date	20240221
Fiscal Year	2024
Fiscal Period	Q1
XBRL Instance	adi-20240203_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 40 Cash Flow Statement 48 Stockholders Equity 14 Comprehensive Income 12

Balance Sheet 72 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
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.30B	USD	Point-in-time
Preferred stock, shares outstanding (in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$958.06M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.47B	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$1.20B	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.16	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.16	USD	Point-in-time
Inventories	`InventoryNet`	$1.64B	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
Inventories	`InventoryNet`	$1.55B	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$314.01M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	495.91M	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$362.38M	USD	Point-in-time
Common stock, shares outstanding (in shares)	`CommonStockSharesOutstanding`	496.26M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$4.42B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$4.38B	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$3.22B	USD	Point-in-time
Net property, plant and equipment	`PropertyPlantAndEquipmentNet`	$3.28B	USD	Point-in-time
Goodwill	`Goodwill`	$26.91B	USD	Point-in-time
Goodwill	`Goodwill`	$26.91B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$10.87B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$11.31B	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$2.22B	USD	Point-in-time
Deferred tax assets	`DeferredIncomeTaxAssetsNet`	$2.17B	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$734.29M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$742.94M	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$44.41B	USD	Point-in-time
Total non-current assets	`AssetsNoncurrent`	$43.97B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$48.39B	USD	Point-in-time
TOTAL ASSETS	`Assets`	$48.79B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$398.11M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$493.04M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$410.01M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesCurrent`	$309.05M	USD	Point-in-time
Debt, current	`LongTermDebtCurrent`	$499.05M	USD	Point-in-time
Debt, current	`LongTermDebtCurrent`	$499.32M	USD	Point-in-time
Commercial paper notes	`CommercialPaper`	$544.44M	USD	Point-in-time
Commercial paper notes	`CommercialPaper`	$547.22M	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.07B	USD	Point-in-time
Accrued liabilities	`AccruedLiabilitiesCurrent`	$1.35B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.92B	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.20B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$5.90B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$5.95B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$2.98B	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxLiabilitiesNet`	$3.13B	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesNoncurrent`	$417.08M	USD	Point-in-time
Income taxes payable	`AccruedIncomeTaxesNoncurrent`	$415.54M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$579.00M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$581.00M	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$10.03B	USD	Point-in-time
Total non-current liabilities	`LiabilitiesNoncurrent`	$9.92B	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, 495,908,150 shares outstanding (496,261,678 on October 28, 2023)	`CommonStockValue`	$82.65M	USD	Point-in-time
Common stock, $0.16 2/3 par value, 1,200,000,000 shares authorized, 495,908,150 shares outstanding (496,261,678 on October 28, 2023)	`CommonStockValue`	$82.71M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$25.25B	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$25.31B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$10.39B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$10.36B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-188.30M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-181.28M	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$35.57B	USD	Point-in-time
Total shareholders equity	`StockholdersEquity`	$35.55B	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$48.79B	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$48.39B	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$3.25B	USD	1 Quarter
Revenue	`RevenueFromContractWithCustomerExcludingAssessedTax`	$2.51B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.13B	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$1.04B	USD	1 Quarter
Gross margin	`GrossProfit`	$2.12B	USD	1 Quarter
Gross margin	`GrossProfit`	$1.47B	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$391.43M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$414.10M	USD	1 Quarter
Selling, marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$326.28M	USD	1 Quarter
Selling, marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$290.08M	USD	1 Quarter
Amortization of intangibles	`OperatingExpensesAmortizationOfIntangibles`	$253.14M	USD	1 Quarter
Amortization of intangibles	`OperatingExpensesAmortizationOfIntangibles`	$190.33M	USD	1 Quarter
Special charges, net	`RestructuringSettlementAndImpairmentProvisions`	$16.14M	USD	1 Quarter
Special charges, net	`RestructuringSettlementAndImpairmentProvisions`	-	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$993.52M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$887.98M	USD	1 Quarter
Operating income:	`OperatingIncomeLoss`	$1.13B	USD	1 Quarter
Operating income:	`OperatingIncomeLoss`	$585.96M	USD	1 Quarter
Interest expense	`InterestExpense`	$60.45M	USD	1 Quarter
Interest expense	`InterestExpense`	$77.14M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$10.83M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$9.17M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-4.57M	USD	1 Quarter
Other, net	`OtherNonoperatingIncomeExpense`	$-7.72M	USD	1 Quarter
Total nonoperating expense (income)	`NonoperatingIncomeExpense`	$-72.55M	USD	1 Quarter
Total nonoperating expense (income)	`NonoperatingIncomeExpense`	$-57.35M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$513.42M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.07B	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$112.00M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$50.69M	USD	1 Quarter
Net income	`NetIncomeLoss`	$462.73M	USD	1 Quarter
Net income	`NetIncomeLoss`	$961.47M	USD	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 basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	495.76M	shares	1 Quarter
Shares used to compute earnings per common share diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	498.74M	shares	1 Quarter
Shares used to compute earnings per common share diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	511.18M	shares	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$1.90	USD	1 Quarter
Basic earnings per common share (in dollars per share)	`EarningsPerShareBasic`	$0.93	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$0.93	USD	1 Quarter
Diluted earnings per common share (in dollars per share)	`EarningsPerShareDiluted`	$1.88	USD	1 Quarter

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$462.73M	USD	1 Quarter
Net income	`NetIncomeLoss`	$961.47M	USD	1 Quarter
Depreciation	`Depreciation`	$85.32M	USD	1 Quarter
Depreciation	`Depreciation`	$84.35M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$440.90M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$502.18M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$75.04M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$69.81M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-146.35M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-102.15M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-9.73M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-4.68M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$81.09M	USD	1 Quarter
Changes in operating assets and liabilities	`IncreaseDecreaseInOperatingCapital`	$-178.50M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$444.83M	USD	1 Quarter
Total adjustments	`AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities`	$676.11M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.41B	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.14B	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$176.16M	USD	1 Quarter
Additions to property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$222.98M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-3.88M	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`	$-219.10M	USD	1 Quarter
Proceeds from commercial paper notes	`ProceedsFromIssuanceOfCommercialPaper`	$2.78B	USD	1 Quarter
Proceeds from commercial paper notes	`ProceedsFromIssuanceOfCommercialPaper`	-	USD	1 Quarter
Payments of commercial paper notes	`PaymentsOfCommercialPaper`	$2.78B	USD	1 Quarter
Payments of commercial paper notes	`PaymentsOfCommercialPaper`	-	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$654.56M	USD	1 Quarter
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$180.35M	USD	1 Quarter
Dividend payments to shareholders	`PaymentsOfDividendsCommonStock`	$426.08M	USD	1 Quarter
Dividend payments to shareholders	`PaymentsOfDividendsCommonStock`	$385.45M	USD	1 Quarter
Proceeds from employee stock plans	`ProceedsFromStockPlans`	$49.82M	USD	1 Quarter
Proceeds from employee stock plans	`ProceedsFromStockPlans`	$41.24M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-14.84M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-31.59M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-574.23M	USD	1 Quarter
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.03B	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$199.89M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$345.50M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$958.06M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.67B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.30B	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.47B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$958.06M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.67B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.30B	USD	Point-in-time
Cash and cash equivalents at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.47B	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`	$0.86	USD	1 Quarter
Beginning balance (in shares)	`CommonStockSharesOutstanding`	495.91M	shares	Point-in-time
Beginning balance (in shares)	`CommonStockSharesOutstanding`	496.26M	shares	Point-in-time
Beginning balance	`StockholdersEquity`	$35.57B	USD	Point-in-time
Beginning balance	`StockholdersEquity`	$35.55B	USD	Point-in-time
Net income	`NetIncomeLoss`	$462.73M	USD	1 Quarter
Net income	`NetIncomeLoss`	$961.47M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$7.02M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$28.42M	USD	1 Quarter
Ending balance (in shares)	`CommonStockSharesOutstanding`	495.91M	shares	Point-in-time
Ending balance (in shares)	`CommonStockSharesOutstanding`	496.26M	shares	Point-in-time
Ending balance	`StockholdersEquity`	$35.57B	USD	Point-in-time
Ending balance	`StockholdersEquity`	$35.55B	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$462.73M	USD	1 Quarter
Net income	`NetIncomeLoss`	$961.47M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$385.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$2.50M	USD	1 Quarter
Change in fair value of derivative instruments designated as cash flow hedges, net	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$8.02M	USD	1 Quarter
Change in fair value of derivative instruments designated as cash flow hedges, net	`OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent`	$25.47M	USD	1 Quarter
Changes in pension plans, net actuarial gain/loss and foreign currency translation adjustments, net	`OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent`	$1.39M	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	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$7.02M	USD	1 Quarter
Other comprehensive income	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$28.42M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$469.74M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$989.89M	USD	1 Quarter

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