Broadcom®, the pulse logo, Connecting everything®, and the Connecting everything logo are among the trademarks of Broadcom Corporation and/or its affiliates in the United States, certain other countries and/or the EU. Any other trademarks or trade names mentioned are the property of their respective owners.
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BROADCOM CORPORATION | |||||||||||||||||||
Unaudited GAAP Condensed Consolidated Statements of Operations | |||||||||||||||||||
(In millions, except per share amounts) | |||||||||||||||||||
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Three Months Ended |
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Year Ended | ||||||||||||||||
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December 31, |
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September 30, |
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December 31, |
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December 31, | ||||||||||||
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2014 |
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2014 |
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2013 |
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2014 |
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2013 | ||||||||||
Net revenue |
$ |
2,143 |
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$ |
2,260 |
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$ |
2,064 |
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$ |
8,428 |
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$ |
8,305 |
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Cost of revenue |
1,012 |
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1,077 |
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1,026 |
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4,098 |
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4,088 |
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Gross profit |
1,131 |
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1,183 |
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1,038 |
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4,330 |
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4,217 |
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Operating expenses: |
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Research and development |
530 |
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573 |
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643 |
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2,373 |
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2,486 |
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Selling, general and administrative |
173 |
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176 |
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172 |
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716 |
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706 |
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Amortization of purchased intangible assets |
3 |
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8 |
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14 |
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29 |
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57 |
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Impairments of long-lived assets |
14 |
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200 |
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— |
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404 |
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511 |
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Restructuring costs, net |
16 |
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114 |
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17 |
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158 |
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29 |
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Settlement costs (gains) |
(4) |
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2 |
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6 |
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16 |
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(69) |
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Other charges (gains), net |
— |
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(1) |
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— |
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(60) |
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25 |
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Total operating expenses |
732 |
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1,072 |
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852 |
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3,636 |
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3,745 |
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Income from operations |
399 |
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111 |
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186 |
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694 |
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472 |
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Interest expense, net |
(9) |
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(17) |
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(6) |
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(36) |
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(30) |
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Other income, net |
5 |
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9 |
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1 |
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9 |
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3 |
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Income before income taxes |
395 |
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103 |
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181 |
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667 |
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445 |
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Provision for income taxes |
5 |
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5 |
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13 |
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15 |
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21 |
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Net income |
$ |
390 |
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$ |
98 |
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$ |
168 |
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$ |
652 |
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$ |
424 |
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Net income per share (basic) |
$ |
0.65 |
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$ |
0.17 |
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$ |
0.29 |
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$ |
1.11 |
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$ |
0.74 |
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Net income per share (diluted) |
$ |
0.64 |
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$ |
0.16 |
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$ |
0.29 |
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$ |
1.08 |
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$ |
0.73 |
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Weighted average shares (basic) |
596 |
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591 |
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576 |
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590 |
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574 |
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Weighted average shares (diluted) |
610 |
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607 |
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581 |
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601 |
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584 |
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Dividends per share |
$ |
0.12 |
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$ |
0.12 |
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$ |
0.11 |
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$ |
0.48 |
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$ |
0.44 |
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