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 |