Avago Technologies LTD

Delisted

CIK 0001441634Large AcceleratedSemiconductors & Related DevicesFY ends Oct 31

Period

FY 2015

Revenue

$6.82B

Net Income

$1.36B

Total Assets

$10.59B

Equity

$4.71B

Shares Out

276.49M

Op. Cash Flow

$2.32B

Business

Avago Technologies LTD is a former operating company in Semiconductors & Related Devices. Securities are no longer actively traded on a major U.S. exchange.

Auto-generated from company profile

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2015 2015-10-31	FY 2014 2014-10-31	FY 2013 2013-10-31	FY 2012 2012-10-31	FY 2011 2011-10-31
Net revenue	6,824	4,269	2,520	2,364	2,336
Cost of products sold	2,780	2,121	1,260	1,164	1,133
Amortization of intangible assets	484	249	61	56	56
Restructuring charges	7	22	1	2	0
Total cost of products sold	3,271	2,392	1,322	1,222	1,189
Gross margin	3,553	1,877	1,198	1,142	1,147
Research and development	1,049	695	398	335	317
Selling, general and administrative	486	407	222	199	220
Amortization of intangible assets	249	197	24	21	22
Restructuring, Settlement and Impairment Provisions	137	140	2	—	—
Total operating expenses	1,921	1,439	646	560	563
Operating income	1,632	438	552	582	584
Interest expense	−191	−110	−2	−1	−4
Other income, net	26	14	18	4	1
Income from continuing operations before income taxes	1,467	342	568	585	561
Provision for income taxes	76	33	16	22	9
Income from continuing operations	1,391	309	552	563	—
Loss from discontinued operations, net of income taxes	−27	−46	0	0	—
Net income	1,364	263	552	563	552
Income per share from continuing operations (in dollars per share)	5.27	1.23	2.23	2.3	—
Loss per share from discontinued operations, net of income taxes (in dollars per share)	−0.1	−0.18	0	0	—
Net income per share (in dollars per share)	5.17	1.05	2.23	2.3	2.25
Income per share from continuing operations (in dollars per share)	4.95	1.16	2.19	2.25	—
Loss per share from discontinued operations, net of income taxes (in dollars per share)	−0.1	−0.17	0	0	—
Net income per share (in dollars per share)	4.85	0.99	2.19	2.25	2.19
Basic (in shares)	264	251	247	245	245
Diluted (in shares)	281	267	252	250	252
Cash dividends declared and paid per share (in dollars per share)	1.55	1.13	0.8	0.56	0.35

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2015 2015-10-31	FY 2014 2014-10-31	FY 2013 2013-10-31	FY 2012 2012-10-31	FY 2011 2011-10-31
Cash and cash equivalents	1,822	1,604	985	1,084	829
Trade accounts receivable, net	1,019	782	418	341	328
Inventory	524	519	285	194	194
Assets held-for-sale	22	628	0	—	—
Other current assets	388	302	130	72	42
Total current assets	3,775	3,835	1,818	1,691	1,393
Property, plant and equipment, net	1,460	1,158	661	503	316
Goodwill	1,674	1,596	391	180	177
Intangible assets, net	3,277	3,617	492	422	—
Other long-term assets	406	285	53	66	61
Total assets	10,592	10,491	3,415	2,862	2,446
Accounts payable	617	515	278	248	221
Employee compensation and benefits	250	219	89	61	89
Other current liabilities	206	236	47	36	38
Current portion of long-term debt	46	46	0	—	—
Total current liabilities	1,119	1,016	414	346	350
Long-term debt	3,903	4,543	0	—	—
Convertible notes payable to related party - non-current	0	920	0	—	—
Pension and post-retirement benefit obligations	475	506	62	—	—
Other long-term liabilities	381	263	53	95	86
Total liabilities	5,878	7,248	529	443	440
Commitments and contingencies (Note 12)	—	—	—	—	—
Ordinary shares, no par value; 276,259,120 shares and 254,330,630 shares issued and outstanding on November 1, 2015 and November 2, 2014, respectively	2,547	2,009	1,587	1,479	1,479
Retained earnings	2,240	1,284	1,305	951	525
Accumulated other comprehensive loss	−73	−50	−6	−11	2
Total shareholders equity	4,714	3,243	2,886	2,419	2,006
Total liabilities and shareholders equity	10,592	10,491	3,415	2,862	2,446

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2015 2015-10-31	FY 2014 2014-10-31	FY 2013 2013-10-31	FY 2012 2012-10-31	FY 2011 2011-10-31
Depreciation and amortization	962	625	187	155	157
Amortization of debt issuance costs and accretion of debt discount	22	14	1	0	1
Share-based compensation	232	163	77	53	38
Tax benefits from share-based compensation	130	42	25	13	—
Excess tax benefits from share-based compensation	−125	−39	−17	−9	−8
Restructuring Costs and Asset Impairment Charges	77	9	0	—	—
(Loss) gain on disposal of discontinued operations	14	−18	0	0	—
Deferred taxes	−220	−92	−22	1	—
Other	28	−1	−12	5	—
Trade accounts receivable, net	−187	−70	−26	−13	−42
Inventory	62	193	−55	0	−5
Accounts payable	29	13	22	−2	25
Employee compensation and benefits	8	20	32	−28	7
Other current assets and current liabilities	118	−219	43	36	—
Other long-term assets and long-term liabilities	40	−166	1	−9	—
Net cash provided by operating activities	2,318	1,175	722	693	726
Purchases of property, plant and equipment	−593	−409	−236	−241	−112
Purchases of property, plant and equipment	110	0	0	0	0
Proceeds from disposals of property, plant and equipment	650	450	0	0	0
Total purchase price, net of cash acquired	394	5,961	414	−4	−8
Proceeds from sale of investments	0	35	13	0	0
Purchases of investments	−14	0	−15	0	−1
Net cash used in investing activities	−241	−5,885	−652	−244	−122
Proceeds from term loan borrowings	0	4,600	0	0	—
Proceeds from issuance of convertible senior notes	0	1,000	0	0	—
Debt repayments	1,639	12	0	0	−230
Payment of assumed debt	−178	0	0	—	—
Debt issuance costs	0	124	2	0	—
Excess tax benefits from share-based compensation	125	39	17	9	8
Dividend payments to shareholders	−408	−284	−198	−137	86
Issuance of ordinary shares	241	124	101	44	70
Repurchase of ordinary shares	0	12	95	−110	−93
Other	0	−2	8	—	—
Net cash (used in) provided by financing activities	−1,859	5,329	−169	−194	−336
Net change in cash and cash equivalents	218	619	−99	255	268
Cash paid for interest	172	78	1	1	14
Cash paid for income taxes, net of refunds	138	23	6	9	—

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