Maxim Integrated Reports Results For The Second Quarter Of Fiscal 2016

 


CONSOLIDATED STATEMENTS OF CASH FLOWS



(Unaudited)




Three Months Ended




December 26, 


September 26, 


December 27, 




2015


2015


2014




(in thousands)



Cash flows from operating activities:








Net income (loss)

$      67,469


$     (72,143)


$    (72,034)



Adjustments to reconcile net income (loss) to net cash provided by operating activities:








Stock-based compensation

18,419


16,963


20,776



Depreciation and amortization

49,082


102,053


71,625



Deferred taxes

18,816


(53,111)


(30,849)



Loss (gain) from sale of property, plant and equipment

(4,517)


(1,346)


1,844



Tax benefit (shortfall) related to stock-based compensation 

1,980


1,193


(229)



Impairment of long-lived assets

1,950


157,697


50,745



Impairment of goodwill and intangible assets

-


-


93,010



Excess tax benefit from stock-based compensation

(3,920)


(2,249)


(1,931)



Changes in assets and liabilities:








Accounts receivable

51,291


(3,627)


23,426



Inventories

15,811


(2,167)


(1,486)



Other current assets

(918)


4,796


1,009



Accounts payable

(7,659)


(9,776)


(12,007)



Income taxes payable

(26,875)


34,127


12,835



Deferred revenue on shipments to distributors

(3,024)


4,764


282



All other accrued liabilities

4,584


(59,835)


15,839



Net cash provided by (used in) operating activities

182,489


117,339


172,855



Cash flows from investing activities:








Payments for property, plant and equipment

(13,530)


(15,821)


(18,585)



Proceeds from sales of property, plant and equipment

49,709


606


24,467



Purchases of available-for-sale securities

(25,032)


(25,055)


-



Purchases of privately-held companies' securities

(6,008)


(1,000)


-



Other investing activities

2,380


-


-



Net cash provided by (used in) investing activities

7,519


(41,270)


5,882



Cash flows from financing activities:








Excess tax benefit from stock-based compensation 

3,920


2,249


1,931



Net issuance of restricted stock units

(7,722)


(4,822)


(6,822)



Proceeds from stock options exercised

48,477


8,970


8,323



Issuance of common stock under employee stock purchase program

14,350


-


18,653



Repurchase of common stock

(23,150)


(39,697)


(59,666)



Dividends paid

(85,712)


(85,387)


(79,169)



Net cash provided by (used in) financing activities

(49,837)


(118,687)


(116,750)



Net increase (decrease) in cash and cash equivalents

140,171


(42,618)


61,987



Cash and cash equivalents:








Beginning of period

1,550,965


1,550,965


1,243,883



End of period

$ 1,648,518


$  1,508,347


$ 1,305,870











Total cash, cash equivalents, and short-term investments

$ 1,773,473


$  1,608,632


$ 1,380,882



















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