ANALOG DEVICES, INC. CONSOLIDATED STATEMENTS OF CASH FLOWS Years ended October 31, 2020, November 2, 2019 and November 3, 2018 See accompanying Notes. 53 (1) Balances have been restated to reflect the adoption of Accounting Standards Update (ASU) 2014-09,  Revenue from Contracts with Customers  (ASU 2014-09). See Note 2a,  Principles of Consolidation , of the Notes to Consolidated Financial Statements. (thousands) 2020 2019 2018 (1) Cash flows from operating activities: Net income $ 1,220,761  $ 1,363,011  $ 1,506,980  Adjustments to reconcile net income to net cash provided by operations: Depreciation 233,775  240,677  228,525  Amortization of intangibles 577,148  570,574  570,538  Stock-based compensation expense 149,518  150,300  151,165  Non-cash impairment included in special charges —  14,167  —  Other non-cash activity 5,418  40,907  36,569  Non-cash contribution to charitable foundation 40,000  —  —  Deferred income taxes (113,948) (91,253) (730,376) Change in operating assets and liabilities: Accounts receivable (101,626) 5,890  45,979  Inventories 1,760  (42,771) (34,636) Prepaid expenses and other current assets (3,666) (11,797) (1,588) Deferred compensation plan investments (3,853) (7,301) (7,484) Accounts payable and accrued liabilities 103,104  (6,371) (18,397) Deferred compensation plan liability 3,853  7,308  7,484  Income taxes payable, current 29,441  74,993  (8,506) Other liabilities (133,198) (55,234) 696,108  Total adjustments 787,726  890,089  935,381  Net cash provided by operating activities 2,008,487  2,253,100  2,442,361  Cash flows from investing: Additions to property, plant and equipment, net (165,692) (275,372) (254,876) Payments for acquisitions, net of cash acquired (14,196) (11,170) (52,839) Change in other assets (635) (6,644) (6,283) Net cash used for investing activities (180,523) (293,186) (313,998) Cash flows from financing activities: Proceeds from debt 395,646  1,250,000  743,778  Early termination of debt —  (1,250,000) —  Debt repayments (750,000) (850,000) (2,275,000) Payments on revolver (350,000) (75,000) —  Proceeds from revolver 350,000  75,000  —  Dividend payments to shareholders (886,155) (777,481) (703,307) Repurchase of common stock (244,487) (613,005) (225,977) Proceeds from employee stock plans 68,403  116,523  99,027  Change in other financing activities (4,015) (2,831) 3,437  Net cash used for financing activities (1,420,608) (2,126,794) (2,358,042) Effect of exchange rate changes on cash 182  (1,389) (1,568) Net increase (decrease) in cash and cash equivalents 407,538  (168,269) (231,247) Cash and cash equivalents at beginning of year 648,322  816,591  1,047,838  Cash and cash equivalents at end of year $ 1,055,860  $ 648,322  $ 816,591 