ANALOG DEVICES INC
For the period ended Nov 1, 2025. Filed Nov 25, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Nov 25, 2025
ADI$394.66+8.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| (thousands) | 2025 | 2024 | 2023 |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net income | $2,267,342 | $1,635,273 | $3,314,579 |
| Adjustments to reconcile net income to net cash provided by operations: | |||
| Depreciation | 406,801 | 362,771 | 334,704 |
| Amortization of intangibles | 1,592,044 | 1,741,545 | 1,958,399 |
| Stock-based compensation expense | 321,560 | 262,710 | 299,823 |
| Deferred income taxes | (246,645) | (367,563) | (452,946) |
| Other | (9,909) | 23,050 | 8,665 |
| Change in operating assets and liabilities: | |||
| Accounts receivable | (90,960) | 133,402 | 330,728 |
| Inventories | (208,636) | 191,170 | (242,299) |
| Prepaid expenses and other current assets | 9,107 | (53,004) | 4,543 |
| Accounts payable and accrued liabilities | 657,305 | (133,758) | (499,316) |
| Income taxes payable | 94,303 | 91,648 | (263,716) |
| Other assets | 6,664 | (34,521) | (25,819) |
| Other liabilities | 13,226 | (194) | 50,289 |
| Total adjustments | 2,544,860 | 2,217,256 | 1,503,055 |
| Net cash provided by operating activities | 4,812,202 | 3,852,529 | 4,817,634 |
| Cash flows from investing activities: | |||
| Purchases of short-term available-for-sale investments | (1,150,240) | (438,901) | — |
| Maturities of short-term available-for-sale investments | 372,778 | 69,279 | — |
| Additions to property, plant and equipment, net | (533,552) | (730,463) | (1,261,463) |
| Proceeds from sale of property, plant and equipment, net | 58,892 | — | — |
| Payments for acquisitions, net of cash acquired | (45,652) | — | — |
| Other | (23,747) | (4,773) | (4,922) |
| Net cash used for investing activities | (1,321,521) | (1,104,858) | (1,266,385) |
| Cash flows from financing activities: | |||
| Proceeds from debt | 1,490,785 | 1,087,856 | — |
| Early termination of debt | — | — | (65,688) |
| Debt repayments | (399,998) | (499,966) | — |
| Proceeds from commercial paper notes | 9,462,691 | 10,184,439 | 5,287,124 |
| Payments of commercial paper notes | (9,563,790) | (10,183,925) | (4,739,900) |
| Dividend payments to shareholders | (1,924,413) | (1,795,459) | (1,679,106) |
| Repurchase of common stock | (2,164,638) | (615,590) | (2,963,955) |
| Proceeds from employee stock plans | 108,913 | 121,215 | 118,608 |
| Other | 7,833 | (12,960) | (20,843) |
| Net cash used for financing activities | (2,982,617) | (1,714,390) | (4,063,760) |
| Net increase (decrease) in cash and cash equivalents | 508,064 | 1,033,281 | (512,511) |
| Cash and cash equivalents at beginning of year | 1,991,342 | 958,061 | 1,470,572 |
| Cash and cash equivalents at end of year | $2,499,406 | $1,991,342 | $958,061 |
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