Broadcom Inc. Announces Third Quarter Fiscal Year 2020 Financial Results and Quarterly Dividends

 

BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(IN MILLIONS)



















Fiscal Quarter Ended


Three Fiscal Quarters Ended



August 2,


May 3,


August 4,


August 2,


August 4,



2020


2020


2019


2020


2019

Cash flows from operating activities:
















Net income


$

688


$

563


$

715


$

1,636


$

1,877

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
















  Amortization of intangible and right-of-use assets



1,581



1,583



1,309



4,746



3,930

  Depreciation



138



147



141



431



426

  Stock-based compensation



465



517



632



1,527



1,641

  Deferred taxes and other non-cash taxes



(436)



(175)



(235)



(683)



(708)

  Loss on debt extinguishment



55



93



2



153



2

  Non-cash restructuring, impairment and disposal charges



15



6



15



32



113

  Non-cash interest expense



22



31



23



83



50

  Other



(54)



(8)



(23)



(43)



(83)

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
















    Trade accounts receivable, net



542



440



(60)



590



201

    Inventory



(128)



(10)



(57)



(98)



33

    Accounts payable



(123)



233



244



227



105

    Employee compensation and benefits



231



61



104



75



(360)

    Other current assets and current liabilities



(2)



118



(354)



462



115

    Other long-term assets and long-term liabilities



184



(386)



(37)



(425)



(124)

Net cash provided by operating activities



3,178



3,213



2,419



8,713



7,218

















Cash flows from investing activities:
















  Acquisitions of businesses, net of cash acquired



(2)



-



(6)



(10,872)



(16,033)

  Proceeds from sales of businesses



50



168



-



218



957

  Purchases of property, plant and equipment



(105)



(148)



(112)



(361)



(336)

  Proceeds from disposals of property, plant and equipment



10



-



82



10



82

  Other



1



4



1



(4)



(4)

Net cash provided by (used in) investing activities



(46)



24



(35)



(11,009)



(15,334)

















Cash flows from financing activities:
















  Proceeds from long-term borrowings



7,953



4,468



-



27,802



28,793

  Repayment of debt



(6,825)



(4,452)



-



(15,814)



(12,000)

  Other borrowings, net



(3,028)



1,025



(230)



(1,285)



1,345

  Payment of dividends



(1,386)



(1,381)



(1,057)



(4,139)



(3,181)

  Repurchases of common stock - repurchase program



-



-



(736)



-



(5,002)

  Shares repurchased for tax withholdings on vesting of equity awards



(192)



(219)



(241)



(580)



(818)

  Issuance of common stock



46



91



11



174



194

  Other



(50)



(6)



3



(60)



(45)

Net cash provided by (used in) financing activities



(3,482)



(474)



(2,250)



6,098



9,286

















Net change in cash and cash equivalents



(350)



2,763



134



3,802



1,170

Cash and cash equivalents at the beginning of period



9,207



6,444



5,328



5,055



4,292

Cash and cash equivalents at end of period


$

8,857


$

9,207


$

5,462


$

8,857


$

5,462

















Supplemental disclosure of cash flow information:
















Cash paid for interest


$

269


$

375


$

368


$

1,025


$

980

Cash paid for income taxes


$

44


$

124


$

98


$

299


$

618


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