Broadcom Inc. Announces Second Quarter Fiscal Year 2021 Financial Results and Quarterly Dividends

 

BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(IN MILLIONS)



















Fiscal Quarter Ended


Two Fiscal Quarters Ended



May 2,


January 31,


May 3,


May 2,


May 3,



2021


2021


2020


2021


2020

Cash flows from operating activities:
















Net income


$

1,493


$

1,378


$

563


$

2,871


$

948

Adjustments to reconcile net income to net cash provided by operating activities:
















Amortization of intangible and right-of-use assets



1,371



1,395



1,583



2,766



3,165

Depreciation



133



138



147



271



293

Stock-based compensation



425



444



517



869



1,062

Deferred taxes and other non-cash taxes



(177)



(149)



(175)



(326)



(247)

Loss on debt extinguishment



26



172



93



198



98

Unrealized (gain) loss on investments



25



(119)



-



(94)



-

Non-cash restructuring, impairment and disposal charges



12



15



6



27



17

Non-cash interest expense



21



22



31



43



61

Other



(3)



(5)



(8)



(8)



11

Changes in assets and liabilities, net of acquisitions and disposals:
















  Trade accounts receivable, net



106



(247)



440



(141)



48

  Inventory



(52)



51



(10)



(1)



30

  Accounts payable



(58)



44



233



(14)



350

  Employee compensation and benefits



135



(375)



61



(240)



(156)

  Other current assets and current liabilities



182



408



118



590



464

  Other long-term assets and long-term liabilities



(70)



(59)



(386)



(129)



(609)

Net cash provided by operating activities



3,569



3,113



3,213



6,682



5,535

















Cash flows from investing activities:
















Acquisitions of businesses, net of cash acquired



-



(8)



-



(8)



(10,870)

Proceeds from sale of business



-



-



168



-



168

Purchases of property, plant and equipment



(126)



(114)



(148)



(240)



(256)

Proceeds from disposals of property, plant and equipment



3



-



-



3



-

Other



(3)



-



4



(3)



(5)

Net cash provided by (used in) investing activities



(126)



(122)



24



(248)



(10,963)

















Cash flows from financing activities:
















Proceeds from long-term borrowings



-



9,904



4,468



9,904



19,849

Payments on debt obligations



(1,533)



(9,200)



(4,452)



(10,733)



(8,989)

Other borrowings, net



-



-



1,025



-



1,743

Payments of dividends



(1,552)



(1,543)



(1,381)



(3,095)



(2,753)

Shares repurchased for tax withholdings on vesting of equity awards



(461)



(225)



(219)



(686)



(388)

Issuance of common stock



71



35



91



106



128

Other



(2)



(28)



(6)



(30)



(10)

Net cash provided by (used in) financing activities



(3,477)



(1,057)



(474)



(4,534)



9,580

















Net change in cash and cash equivalents



(34)



1,934



2,763



1,900



4,152

Cash and cash equivalents at beginning of period



9,552



7,618



6,444



7,618



5,055

Cash and cash equivalents at end of period


$

9,518


$

9,552


$

9,207


$

9,518


$

9,207

















Supplemental disclosure of cash flow information:
















Cash paid for interest


$

369


$

372


$

375


$

741


$

756

Cash paid for income taxes


$

293


$

147


$

124


$

440


$

255


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