Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Analog Devices Inc., consolidated cash flow 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
Net income	3,314,579)	2,748,561)	1,390,422)	1,220,761)	1,363,011)	1,495,432)
Depreciation	334,704)	283,338)	231,275)	233,775)	240,677)	228,525)
Amortization of intangibles	1,958,399)	2,014,161)	843,359)	577,148)	570,574)	570,538)
Cost of goods sold for inventory acquired	—)	271,396)	331,083)	—)	—)	—)
Stock-based compensation expense	299,823)	323,487)	243,611)	149,518)	150,300)	151,165)
Non-cash contribution to charitable foundation	—)	—)	—)	40,000)	—)	—)
Loss on extinguishment of debt	—)	—)	215,150)	—)	—)	—)
Non-cash impairment charge	—)	91,953)	—)	—)	—)	—)
Deferred income taxes	(452,946)	(326,755)	(406,922)	(113,948)	(91,253)	(736,759)
Other	8,665)	(47,074)	(4,854)	(252,189)	55,074)	36,569)
Accounts receivable	330,728)	(343,908)	(114,504)	(101,626)	5,890)	45,979)
Inventories	(242,299)	(470,725)	(65,114)	1,760)	(42,771)	(34,636)
Prepaid expenses and other current assets	4,543)	(79,439)	(53,326)	(3,666)	(11,797)	(1,588)
Prepaid income tax	—)	14,855)	(5,791)	—)	—)	—)
Accounts payable and accrued liabilities	(499,316)	171,772)	208,444)	103,104)	(6,371)	(5,069)
Income taxes payable, current	(263,716)	(91,852)	(6,797)	29,441)	74,993)	(3,903)
Other assets	(25,819)	(14,441)	(21,690)	—)	7)	—)
Other liabilities	50,289)	(69,927)	(49,277)	124,409)	(55,234)	696,108)
Change in operating assets and liabilities	(645,590)	(883,665)	(108,055)	153,422)	(35,283)	696,891)
Adjustments to reconcile net income to net cash provided by operations	1,503,055)	1,726,841)	1,344,647)	787,726)	890,089)	946,929)
Net cash provided by operating activities	4,817,634)	4,475,402)	2,735,069)	2,008,487)	2,253,100)	2,442,361)
Additions to property, plant and equipment, net	(1,261,463)	(699,308)	(343,676)	(165,692)	(275,372)	(254,876)
Cash received from acquisition of Maxim, net of cash paid	—)	—)	2,450,550)	—)	—)	—)
Other	(4,922)	41,940)	36,651)	(14,831)	(17,814)	(59,122)
Net cash (used for) provided by investing activities	(1,266,385)	(657,368)	2,143,525)	(180,523)	(293,186)	(313,998)
Proceeds from debt	—)	296,130)	3,939,640)	395,646)	1,250,000)	743,778)
Early termination of debt	(65,688)	(519,116)	(3,591,982)	—)	(1,250,000)	—)
Debt repayments	—)	—)	—)	(750,000)	(850,000)	(2,275,000)
Payments on revolver	—)	(400,000)	(400,000)	(350,000)	(75,000)	—)
Proceeds from revolver	—)	400,000)	400,000)	350,000)	75,000)	—)
Proceeds from commercial paper notes	5,287,124)	—)	—)	—)	—)	—)
Payments of commercial paper notes	(4,739,900)	—)	—)	—)	—)	—)
Payment on derivative instrument	—)	—)	(153,161)	—)	—)	—)
Prepayment for stock repurchases	—)	—)	(500,000)	—)	—)	—)
Dividend payments to shareholders	(1,679,106)	(1,544,552)	(1,109,344)	(886,155)	(777,481)	(703,307)
Repurchase of common stock	(2,963,955)	(2,577,015)	(2,605,144)	(244,487)	(613,005)	(225,977)
Proceeds from employee stock plans	118,608)	33,887)	63,105)	68,403)	116,523)	99,027)
Other	(20,843)	19,946)	(2,778)	(4,015)	(2,831)	3,437)
Net cash used for financing activities	(4,063,760)	(4,290,720)	(3,959,664)	(1,420,608)	(2,126,794)	(2,358,042)
Effect of exchange rate changes on cash	—)	(34,706)	3,174)	182)	(1,389)	(1,568)
Net increase (decrease) in cash and cash equivalents	(512,511)	(507,392)	922,104)	407,538)	(168,269)	(231,247)
Cash and cash equivalents at beginning of year	1,470,572)	1,977,964)	1,055,860)	648,322)	816,591)	1,047,838)
Cash and cash equivalents at end of year	958,061)	1,470,572)	1,977,964)	1,055,860)	648,322)	816,591)

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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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Analog Devices Inc. net cash provided by operating activities increased from 2021 to 2022 and from 2022 to 2023.
Net cash (used for) provided by investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Analog Devices Inc. net cash (used for) provided by investing activities decreased from 2021 to 2022 and from 2022 to 2023.
Net cash used for financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Analog Devices Inc. net cash used for financing activities decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Analog Devices Inc. (NASDAQ:ADI)

Cash Flow Statement