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

 

BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(IN MILLIONS)













Fiscal Quarter Ended



January 31,


November 1,


February 2,



2021


2020


2020

Cash flows from operating activities:










Net income


$

1,378


$

1,324


$

385

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









Amortization of intangible and right-of-use assets



1,395



1,589



1,582

Depreciation



138



139



146

Stock-based compensation



444



449



545

Deferred taxes and other non-cash taxes



(149)



(459)



(72)

Loss on debt extinguishment



172



16



5

Unrealized gain on investments



(119)



-



-

Non-cash restructuring, impairment and disposal charges



15



12



11

Non-cash interest expense



22



25



30

Other



(5)



(9)



19

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










  Trade accounts receivable, net



(247)



391



(392)

  Inventory



51



67



40

  Accounts payable



44



(230)



117

  Employee compensation and benefits



(375)



142



(217)

  Other current assets and current liabilities



408



(131)



346

  Other long-term assets and long-term liabilities



(59)



23



(223)

Net cash provided by operating activities



3,113



3,348



2,322











Cash flows from investing activities:










Acquisitions of businesses, net of cash acquired



(8)



-



(10,870)

Purchases of property, plant and equipment



(114)



(102)



(108)

Proceeds from disposals of property, plant and equipment



-



2



-

Other



-



-



(9)

Net cash used in investing activities



(122)



(100)



(10,987)











Cash flows from financing activities:










Proceeds from long-term borrowings



9,904



-



15,381

Repayment of debt



(9,200)



(3,000)



(4,537)

Other borrowings, net



-



-



718

Payment of dividends



(1,543)



(1,395)



(1,372)

Shares repurchased for tax withholdings on vesting of equity awards



(225)



(185)



(169)

Issuance of common stock



35



102



37

Other



(28)



(9)



(4)

Net cash provided by (used in) financing activities



(1,057)



(4,487)



10,054











Net change in cash and cash equivalents



1,934



(1,239)



1,389

Cash and cash equivalents at beginning of period



7,618



8,857



5,055

Cash and cash equivalents at end of period


$

9,552


$

7,618


$

6,444











Supplemental disclosure of cash flow information:










Cash paid for interest


$

372


$

383


$

381

Cash paid for income taxes


$

147


$

202


$

131


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