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Avago Technologies LTD

SIC 3674 · Semiconductors & Related Devices
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Avago Technologies LTD

CIK:0001441634|SEC Filings
v3.3.1.900
Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 12 Months Ended
Nov. 01, 2015
Aug. 02, 2015
May. 03, 2015
Feb. 01, 2015
Nov. 02, 2014
Aug. 03, 2014
May. 04, 2014
Feb. 02, 2014
Nov. 01, 2015
Nov. 02, 2014
Nov. 03, 2013
Net revenue $ 1,840 $ 1,735 $ 1,614 $ 1,635 $ 1,590 $ 1,269 $ 701 $ 709 $ 6,824 $ 4,269 $ 2,520
Cost of products sold:                      
Cost of products sold 712 720 654 694 688 760 326 347 2,780 2,121 1,260
Amortization of intangible assets 129 129 113 113 108 105 18 18 484 249 61
Restructuring charges 2 2 1 2 6 11 0 5 7 22 1
Total cost of products sold 843 851 768 809 802 876 344 370 3,271 2,392 1,322
Gross margin 997 884 846 826 788 393 357 339 3,553 1,877 1,198
Research and development 287 276 251 235 234 240 114 107 1,049 695 398
Selling, general and administrative 118 143 108 117 129 137 67 74 486 407 222
Amortization of intangible assets 63 68 59 59 91 91 8 7 249 197 24
Restructuring, Settlement and Impairment Provisions 15 98 10 14 33 87 8 12 137 140 2
Total operating expenses 483 585 428 425 487 555 197 200 1,921 1,439 646
Operating income 514 299 418 401 301 (162) 160 139 1,632 438 552
Interest expense (41) (43) (53) (54) (54) (55) (1) 0 (191) (110) (2)
Other income, net 12 11 (1) 4 16 (2) 0 0 26 14 18
Income from continuing operations before income taxes 485 267 364 351 263 (219) 159 139 1,467 342 568
Provision for income taxes 15 23 25 13 126 (99) 1 5 76 33 16
Income from continuing operations 470 244 339 338 137 (120) 158 134 1,391 309 552
Loss from discontinued operations, net of income taxes (41) [1] (4) 5 13 [1] (2) [1] (44) 0 0 (27) (46) 0
Net income $ 429 $ 240 $ 344 $ 351 $ 135 $ (164) $ 158 $ 134 $ 1,364 $ 263 $ 552
Basic income per share:                      
Income per share from continuing operations (in dollars per share) $ 1.70 $ 0.92 $ 1.31 $ 1.33 $ 0.54 $ (0.48) $ 0.63 $ 0.54 $ 5.27 $ 1.23 $ 2.23
Loss per share from discontinued operations, net of income taxes (in dollars per share) (0.15) (0.01) 0.02 0.05 (0.01) (0.17) 0.00 0.00 (0.10) (0.18) 0.00
Net income per share (in dollars per share) 1.55 0.91 1.33 1.38 0.53 (0.65) 0.63 0.54 5.17 1.05 2.23
Diluted income per share:                      
Income per share from continuing operations (in dollars per share) 1.64 0.85 1.19 1.22 0.50 (0.48) 0.61 0.53 4.95 1.16 2.19
Loss per share from discontinued operations, net of income taxes (in dollars per share) (0.15) (0.01) 0.02 0.04 0.00 (0.17) 0.00 0.00 (0.10) (0.17) 0.00
Net income per share (in dollars per share) $ 1.49 $ 0.84 $ 1.21 $ 1.26 $ 0.50 $ (0.65) $ 0.61 $ 0.53 $ 4.85 $ 0.99 $ 2.19
Weighted-average shares:                      
Basic (in shares) 276 265 258 255 254 252 251 249 264 251 247
Diluted (in shares) 287 287 284 278 272 252 258 255 281 267 252
Cash dividends declared and paid per share (in dollars per share) $ 0.42 $ 0.40 $ 0.38 $ 0.35 $ 0.32 $ 0.29 $ 0.27 $ 0.25 $ 1.55 $ 1.13 $ 0.80
[1] The fiscal quarter ended November 1, 2015 includes a $28 million loss on the disposal of our Endace Business. The fiscal quarter ended February 1, 2015 includes a $14 million gain on the disposal of our Axxia Business. The fiscal quarter ended November 2, 2014 includes an $18 million gain on disposal of our Flash Business.