Analog Devices Files 2024 Annual Report

TL;DR

ADI filed its 2024 10-K. All systems go.

AI Summary

Analog Devices Inc. (ADI) filed its 10-K for the fiscal year ending November 2, 2024. The company, headquartered in Wilmington, MA, reported its financial performance for the fiscal year 2024. Key financial data and business operations are detailed in this comprehensive annual report.

Why It Matters

This filing provides investors and analysts with a detailed overview of Analog Devices' financial health, strategic initiatives, and risk factors for the past fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not indicate any immediate or unusual risks.

Key Numbers

• 100.177 — Revenue (Fiscal Year 2024 (in billions))
• 105.378 — Revenue (Fiscal Year 2023 (in billions))
• 123.996 — Revenue (Fiscal Year 2022 (in billions))

Key Players & Entities

• ANALOG DEVICES INC (company) — Filer
• 0000006281 (company) — Central Index Key
• Wilmington, MA (location) — Business Address
• 2024-11-02 (date) — Fiscal Year End

FAQ

Key Financial Figures

• $0.16 — hange on which registered Common Stock $0.16 2/3 par value per share ADI Nasdaq Glob

Filing Documents

• adi-20241102.htm (10-K) — 2424KB
• exhibit1052-executiveperfo.htm (EX-10.52) — 22KB
• exhibit1056-nakamuraofferl.htm (EX-10.56) — 13KB
• exhibit1057-formoffinancia.htm (EX-10.57) — 317KB
• ex1058martincotterofferlet.htm (EX-10.58) — 12KB
• exhibit19-adixinsidertradi.htm (EX-19) — 65KB
• adify2410k-ex21subsidiaries.htm (EX-21) — 45KB
• adify2410k-ex23xconsent.htm (EX-23) — 4KB
• adify2410k-ex311.htm (EX-31.1) — 9KB
• adify2410k-ex312.htm (EX-31.2) — 9KB
• adify2410k-ex321.htm (EX-32.1) — 4KB
• adify2410k-ex322.htm (EX-32.2) — 4KB
• adi-20241102_g1.jpg (GRAPHIC) — 118KB
• image_0.jpg (GRAPHIC) — 9KB
• image_2a.jpg (GRAPHIC) — 0KB
• 0000006281-24-000204.txt ( ) — 14127KB
• adi-20241102.xsd (EX-101.SCH) — 76KB
• adi-20241102_cal.xml (EX-101.CAL) — 131KB
• adi-20241102_def.xml (EX-101.DEF) — 307KB
• adi-20241102_lab.xml (EX-101.LAB) — 1058KB
• adi-20241102_pre.xml (EX-101.PRE) — 723KB
• adi-20241102_htm.xml (XML) — 2350KB

Risk Factors

Item 1A. Risk Factors 10

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 23

Cybersecurity

Item 1C. Cybersecurity 23

Properties

Item 2. Properties 25

Legal Proceedings

Item 3. Legal Proceedings 26

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 26 PART II 27

Market for Registrant ' s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant ' s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27

Reserved

Item 6. Reserved 28

Management ' s Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 29

Quantitative and Qualitative Disclosures about Market Risk

Item 7A. Quantitative and Qualitative Disclosures about Market Risk 39 Report of Independent Registered Public Accounting Firm 41

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 43 Consolidated Statements of Income 43 Consolidated Statements of Comprehensive Income 44 Consolidated Balance Sheets 45 Consolidated Statements of Shareholders ' Equity 46 Consolidated Statements of Cash Flows 47

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 48

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 82

Controls and Procedures

Item 9A. Controls and Procedures 82

Other Information

Item 9B. Other Information 84

Disclosure Regarding Foreign Jurisdictions That Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 84 PART III 85

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 85

Executive Compensation

Item 11. Executive Compensation 85

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 85

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 85

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 85 PART IV 86

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 86 Schedule II - Va luation and Qualifying Accounts 93

Form 10-K Summary

Item 16. Form 10-K Summary 94

Signatures

Signatures 95 Note About Forward-Looking Statements This Annual Report on Form 10-K, including "Management's Discussion and Analysis of Financial Condition and Results of Operations," contains forward-looking statements regarding future events and our future results that are subject to the safe harbor created under the Private Securities Litigation Reform Act of 1995 and other safe harbors under the Securities Act of 1933 and the Securities Exchange Act of 1934. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. These statements are based on current expectations, estimates, forecasts, and projections about the industries in which we operate and the beliefs and assumptions of our management. Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "continues," "potential," "may," "could" and "will," and variations of such words and similar expressions are intended to identify such forward-looking statements. In addition, any statements that refer to projections regarding our future financial performance or results; our anticipated growth and trends in our businesses; the effects of business, economic, political, legal and regulatory impacts or conflicts upon our global operations; changes in demand for semiconductors and the related changes in demand and supply for our products, including the effects of customer inventory adjustments; manufacturing delays, product availability, and supply chain disruptions; our ability to recruit or retain our key personnel; our future liquidity, capital needs and capital expenditures; our development of technologies and processes and research and development investments; our future market position and expected competitive changes in the marketplace for our products; our plans to pay dividends or repurchase stock; servicing our outstanding debt; our plans to borrow under our third amended and r

BUSINESS

ITEM 1. BUSINESS Company Overview, Strategy and Mission Analog Devices, Inc. (we, Analog Devices or the Company) is a global semiconductor leader dedicated to solving our customers' most complex engineering challenges. We deliver innovations that connect technology to human breakthroughs and play a critical role at the intersection of the physical and digital worlds by providing the building blocks to sense, measure, interpret, connect and power. We design, manufacture, test and market a broad portfolio of solutions, including integrated circuits (ICs), software and subsystems that leverage high-performance analog, mixed-signal and digital signal processing technologies. Our comprehensive product portfolio, deep domain expertise and advanced manufacturing capabilities extend across high-performance precision and high-speed mixed-signal, power management and processing technologies – including data converters, amplifiers, power management, radio frequency (RF) ICs, edge processors and other sensors. The Intelligent Edge is characterized by ubiquitous sensing, hyper-scale and edge computing, artificial intelligence (AI) and pervasive connectivity. These technological trends are driving a continuous evolution of new generations of applications that are increasing the demand for Analog Devices' high-performance analog, mixed-signal, power and RF ICs. We have positioned our business to capitalize on the secular growth opportunities across our markets and to deliver innovative solutions. Central to our strategy is our focus on challenges that our customers have across the most impactful application areas. That is built around the following key priorities, which we believe will continue to drive our long-term success: Efficient use of capital. Research and development (R&D) is critical to continue our cycle of innovation, driven by a diverse array of engineering talent who "engineer good" for our planet and society. We are also deeply committed to realizing targeted sh

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View this 10-K filing on SEC EDGAR