BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(IN MILLIONS)

Fiscal Quarter Ended

February 4,

October 29,

January 29,

2024

2023

2023

Cash flows from operating activities:

Net income

$

1,325

$

3,524

$

3,774

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

Amortization of intangible and right-of-use assets

2,206

808

905

Depreciation

139

124

127

Stock-based compensation

1,582

638

391

Deferred taxes and other non-cash taxes

(294)

639

(573)

Non-cash interest expense

102

34

32

Other

38

27

(39)

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

  Trade accounts receivable, net

1,756

(231)

(276)

  Inventory

(14)

(56)

26

  Accounts payable

(74)

215

(80)

  Employee compensation and benefits

(660)

103

(657)

  Other current assets and current liabilities

(2,182)

(694)

570

  Other long-term assets and long-term liabilities

891

(303)

(164)

Net cash provided by operating activities

4,815

4,828

4,036

Cash flows from investing activities:

Acquisitions of businesses, net of cash acquired

(25,416)

(36)

-

Purchases of property, plant and equipment

(122)

(105)

(103)

Purchases of investments

(13)

(58)

-

Sales of investments

89

154

-

Other

(15)

(79)

-

Net cash used in investing activities

(25,477)

(124)

(103)

Cash flows from financing activities:

Proceeds from long-term borrowings

30,010

-

-

Payments on debt obligations

(934)

(143)

(260)

Payments of dividends

(2,435)

(1,904)

(1,926)

Repurchases of common stock - repurchase program

(7,176)

(123)

(1,188)

Shares repurchased for tax withholdings on vesting of equity awards

(1,114)

(454)

(333)

Issuance of common stock

-

59

-

Other

(14)

(5)

5

Net cash provided by (used in) financing activities

18,337

(2,570)

(3,702)

Net change in cash and cash equivalents

(2,325)

2,134

231

Cash and cash equivalents at beginning of period

14,189

12,055

12,416

Cash and cash equivalents at end of period

$

11,864

$

14,189

$

12,647

Supplemental disclosure of cash flow information:

Cash paid for interest

$

750

$

397

$

361

Cash paid for income taxes

$

904

$

191

$

273