Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Analog Devices Inc., consolidated income statement

US$ in thousands

12 months ended:	Oct 28, 2023	Oct 29, 2022	Oct 30, 2021	Oct 31, 2020	Nov 2, 2019	Nov 3, 2018
Revenue	12,305,539)	12,013,953)	7,318,286)	5,603,056)	5,991,065)	6,200,942)
Cost of sales	(4,428,321)	(4,481,479)	(2,793,274)	(1,912,578)	(1,977,315)	(1,967,640)
Gross margin	7,877,218)	7,532,474)	4,525,012)	3,690,478)	4,013,750)	4,233,302)
Research and development	(1,660,194)	(1,700,518)	(1,296,126)	(1,050,519)	(1,130,348)	(1,165,410)
Selling, marketing, general and administrative	(1,273,584)	(1,266,175)	(915,418)	(659,923)	(648,094)	(695,937)
Amortization of intangibles	(959,618)	(1,012,572)	(536,811)	(429,455)	(429,041)	(428,902)
Special charges, net	(160,710)	(274,509)	(84,456)	(52,337)	(95,659)	(61,318)
Operating expenses	(4,054,106)	(4,253,774)	(2,832,811)	(2,192,234)	(2,303,142)	(2,351,567)
Operating income	3,823,112)	3,278,700)	1,692,201)	1,498,244)	1,710,608)	1,881,735)
Interest expense	(264,641)	(200,408)	(184,825)	(193,305)	(229,075)	(253,589)
Loss on extinguishment of debt	—)	—)	(215,150)	—)	—)	—)
Interest income	41,287)	6,906)	1,220)	4,305)	10,229)	9,383)
Other, net	8,245)	13,551)	35,268)	2,373)	(6,034)	988)
Nonoperating income (expenses)	(215,109)	(179,951)	(363,487)	(186,627)	(224,880)	(243,218)
Income before income taxes	3,608,003)	3,098,749)	1,328,714)	1,311,617)	1,485,728)	1,638,517)
(Provision for) benefit from income taxes	(293,424)	(350,188)	61,708)	(90,856)	(122,717)	(143,085)
Net income	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,011)	1,495,432)

Based on: 10-K (reporting date: 2023-10-28), 10-K (reporting date: 2022-10-29), 10-K (reporting date: 2021-10-30), 10-K (reporting date: 2020-10-31), 10-K (reporting date: 2019-11-02), 10-K (reporting date: 2018-11-03).

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Income statement item	Description	The company
Revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Analog Devices Inc. revenue increased from 2021 to 2022 and from 2022 to 2023.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Analog Devices Inc. operating income increased from 2021 to 2022 and from 2022 to 2023.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Analog Devices Inc. income before income taxes increased from 2021 to 2022 and from 2022 to 2023.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Analog Devices Inc. net income increased from 2021 to 2022 and from 2022 to 2023.

Analog Devices Inc. (NASDAQ:ADI)

Income Statement