Analog Devices, Third Quarter, Fiscal 2015 Schedule A Revenue and Earnings Summary (Unaudited) (In thousands, except per-share amounts) Three Months Ended 3Q 15 Revenue Year-to-year change Quarter-to-quarter change Cost of sales (1) Gross margin Gross margin percentage Year-to-year change (basis points) Quarter-to-quarter change (basis points) Operating expenses: R&D (1) Selling, marketing and G&A (1) Amortization of intangibles Total operating expenses Total operating expenses percentage Year-to-year change (basis points) Quarter-to-quarter change (basis points) Operating income Operating income percentage Year-to-year change (basis points) Quarter-to-quarter change (basis points) Other expense 3Q 14 Aug. 1, May 2, Aug. 2, 2015 2015 2014 $ 863,365 $ 821,019 $ 727,752 19% 18% 8% 5% 6% 5% 294,328 276,197 251,462 569,037 544,822 476,290 65.9% 66.4% 65.4% 50 30 90 -50 120 -70 Income before income tax Provision for income taxes Tax rate percentage Net income 2Q 15 $ Shares used for EPS - basic Shares used for EPS - diluted 160,784 120,030 22,954 303,768 35.2% -240 -80 265,269 30.7% 290 40 5,791 154,233 117,371 24,210 295,814 36.0% 170 -230 249,008 30.3% -140 340 3,819 140,095 132,989 660 273,744 37.6% 400 330 202,546 27.8% -310 -390 5,158 259,478 43,000 16.6% 245,189 39,851 16.3% 197,388 16,782 8.5% 216,478 $ 205,338 $ 180,606 313,877 318,187 312,660 317,047 314,190 318,876 Earnings per share - basic Earnings per share - diluted $ $ 0.69 0.68 $ $ 0.66 0.65 $ $ 0.57 0.57 Dividends paid per share $ 0.40 $ 0.40 $ 0.37 (1) Includes stock-based compensation expense as follows: Cost of sales R&D Selling, marketing and G&A $ $ $ 2,196 6,839 7,329 $ $ $ 2,207 6,416 7,478 $ $ $ 1,724 5,415 6,331 Analog Devices, Third Quarter, Fiscal 2015 Schedule B Selected Balance Sheet Information (Unaudited) (In thousands) Cash & short-term investments Accounts receivable, net Inventories (1) Other current assets Total current assets PP&E, net Investments Goodwill Intangible assets, net Other Total assets Deferred income on shipments to distributors, net Other current liabilities Long-term debt, current Long-term debt, non-current Non-current liabilities Shareholders' equity Total liabilities & equity 3Q 15 Aug. 1, 2015 $ 3,099,961 451,511 424,475 173,945 4,149,892 631,269 40,324 1,640,381 601,882 70,953 $ 7,134,701 2Q 15 May 2, 2015 $ 3,074,778 408,510 394,494 167,979 4,045,761 629,665 39,687 1,643,614 621,277 68,471 $ 7,048,475 3Q 14 Aug. 2, 2014 $ 4,932,259 394,762 415,098 181,765 5,923,884 609,937 32,022 1,631,890 695,832 79,900 $ 8,973,465 $ $ $ 307,265 375,753 374,752 498,448 513,322 5,065,161 $ 7,134,701 295,428 398,127 374,664 498,399 517,649 4,964,208 $ 7,048,475 (1) Includes $2,935, $3,066, and $2,094 related to stock-based compensation in 3Q15, 2Q15, and 3Q14, respectively. 285,832 341,296 1,995,398 872,652 471,090 5,007,197 $ 8,973,465 Analog Devices, Third Quarter, Fiscal 2015 Schedule C Cash Flow Statement (Unaudited) (In thousands) 3Q 15 Aug. 1, 2015 Cash flows from operating activities: Net Income Adjustments to reconcile net income to net cash provided by operations: Depreciation Amortization of intangibles Stock-based compensation expense Other non-cash activity Excess tax benefit - stock options Deferred income taxes Changes in operating assets and liabilities Total adjustments Net cash provided by operating activities Percent of total revenue $ Cash flows from investing activities: Purchases of short-term available-for-sale investments Maturities of short-term available-for-sale investments Sales of short-term available-for-sale investments Additions to property, plant and equipment Payments for acquisitions, net of cash acquired Change in other assets Net cash (used for) provided by investing activities Cash flows from financing activities: Proceeds from debt Dividend payments to shareholders Repurchase of common stock Proceeds from employee stock plans Excess tax benefit - stock options Contingent consideration payment Change in other financing activities Net cash (used for) provided by financing activities Effect of exchange rate changes on cash Net (decrease) increase in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period $ Three Months Ended 2Q 15 3Q 14 May 2, Aug. 2, 2015 2014 216,478 $ 205,338 $ 180,606 33,650 23,898 16,364 3,827 (6,373) (17,168) (73,537) (19,339) 197,139 22.8% 32,036 25,154 16,101 1,832 (11,142) (6,481) 81,193 138,693 344,031 41.9% 28,353 1,610 13,470 1,006 (9,322) (6,380) 4,099 32,836 213,442 29.3% (1,403,600) 1,083,474 215,998 (35,164) (6,947) (1,180) (147,419) (1,661,176) 1,154,412 291,900 (49,229) (4,468) (268,561) (1,028,781) 1,815,862 1,298,044 (42,315) (1,943,704) (340) 98,766 (125,511) (31,340) 19,988 6,373 (1,767) 4,327 (127,930) (509) (124,882) (24,275) 52,090 11,142 (3,563) (89,488) 32 1,995,398 (116,098) (57,394) 36,045 9,322 (1,803) 5,406 1,870,876 (433) (78,719) 636,216 557,497 $ (13,986) 2,182,651 650,202 402,790 636,216 $ 2,585,441 Analog Devices, Third Quarter, Fiscal 2015 Schedule D Revenue Trends by End Market (Unaudited) The categorization of revenue by end market is determined using a variety of data points including the technical characteristics of the product, the “sold to” customer information, the "ship to" customer information and the end customer product or application into which our product will be incorporated. As data systems for capturing and tracking this data evolve and improve, the categorization of products by end market can vary over time. When this occurs we reclassify revenue by end market for prior periods. Such reclassifications typically do not materially change the sizing of, or the underlying trends of results within, each end market. The results below are inclusive of the Hittite acquisition from the acquisition date, July 22, 2014. Three Months Ended Industrial Automotive Consumer Communications Total Revenue Revenue $ 384,187 130,109 206,778 142,291 $ 863,365 Aug 1, 2015 %* Q/Q % 44% -2% 15% -7% 24% 89% 16% -22% 100% 5% * The sum of the individual percentages does not equal the total due to rounding. Y/Y % 10% 0% 155% -14% 19% May 2, 2015 Revenue $ 390,082 139,725 109,243 181,969 $ 821,019 Aug. 2, 2014 Revenue $ 350,683 130,269 80,948 165,852 $ 727,752 Analog Devices, Third Quarter, Fiscal 2015 Schedule E Reconciliation from GAAP to Non-GAAP Data (In thousands, except per-share amounts) (Unaudited) See "Non-GAAP Financial Information" in this press release for a description of the items excluded from our non-GAAP measures. Three Months Ended 2Q 15 3Q 15 Aug. 1, 2015 GAAP Revenue Q/Q Revenue growth % Hittite Operations Non-GAAP Revenue Aug. 2, 2014 $863,365 $821,019 $727,752 5% 6% $ Gross Margin Percentage Hittite Operations Acquisition-Related Expenses Non-GAAP Gross Margin $ Gross Margin Percentage GAAP Operating Expenses $ Percent of Revenue Hittite Operations Acquisition-Related Expenses Acquisition-Related Transaction Costs Non-GAAP Operating Expenses $ Percent of Revenue GAAP Operating Income/Margin $ Percent of Revenue Hittite Operations Acquisition-Related Expenses Acquisition-Related Transaction Costs Non-GAAP Operating Income/Margin $ Percent of Revenue GAAP Other Expense $ Percent of Revenue Acquisition-Related Debt Costs Non-GAAP Other Expense $ Percent of Revenue GAAP Diluted EPS $ (5,392) $ 821,019 $ 722,360 5% 6% 4% $569,037 $544,822 $476,290 65.9% 66.4% 65.4% - - (3,015) 1,307 570,344 1,520 $ 546,342 6,837 $ 480,112 66.1% 66.5% 66.5% 303,768 $ 295,814 $ 273,744 35.2% 36.0% 37.6% - - (2,033) (23,490) (24,435) (5,284) (5,139) (1,820) (21,123) 275,139 $ 269,559 $ 245,304 31.9% 32.8% 34.0% 265,269 $ 249,008 $ 202,546 30.7% 30.3% 27.8% - - 24,797 25,955 12,121 5,139 295,205 1,820 $ 276,783 21,123 $ 234,808 34.2% 33.7% 32.5% 5,791 $ $ 5,158 0.5% 0.7% 5,791 3,819 $ (1,513) 3,645 $ 0.68 3,819 (982) 0.7% 0.7% Hittite Operations 5% - 863,365 Q/Q Revenue growth % GAAP Gross Margin 3Q 14 May 2, 2015 0.5% $ - 0.65 0.5% $ - 0.57 - Acquisition-Related Expenses 0.08 0.08 0.02 Acquisition-Related Transaction Costs Acquisition-Related Debt Costs 0.02 0.01 0.04 Acquisition-Related Tax Impact Non-GAAP Diluted EPS (1) - - (0.00) $ 0.77 (1) The sum of the individual per share amounts may not equal the total due to rounding - (0.01) $ 0.73 $ 0.63