BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(IN MILLIONS)

Fiscal Quarter Ended

January 29,

October 30,

January 30,

2023

2022

2022

Cash flows from operating activities:

Net income

$

3,774

$

3,359

$

2,472

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

Amortization of intangible and right-of-use assets

905

1,087

1,151

Depreciation

127

129

136

Stock-based compensation

391

387

387

Deferred taxes and other non-cash taxes

(573)

(89)

70

Non-cash interest expense

32

32

32

Other

(39)

31

15

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

  Trade accounts receivable, net

(276)

(241)

(468)

  Inventory

26

(87)

(223)

  Accounts payable

(80)

304

-

  Employee compensation and benefits

(657)

128

(528)

  Other current assets and current liabilities

570

(388)

521

  Other long-term assets and long-term liabilities

(164)

(69)

(79)

Net cash provided by operating activities

4,036

4,583

3,486

Cash flows from investing activities:

Purchases of property, plant and equipment

(103)

(122)

(101)

Purchases of investments

-

-

(200)

Other

-

(6)

(8)

Net cash used in investing activities

(103)

(128)

(309)

Cash flows from financing activities:

Payments on debt obligations

(260)

(9)

(255)

Payments of dividends

(1,926)

(1,782)

(1,764)

Repurchases of common stock - repurchase program

(1,188)

-

(2,724)

Shares repurchased for tax withholdings on vesting of equity awards

(333)

(274)

(375)

Issuance of common stock

-

54

1

Other

5

(5)

(4)

Net cash used in financing activities

(3,702)

(2,016)

(5,121)

Net change in cash and cash equivalents

231

2,439

(1,944)

Cash and cash equivalents at beginning of period

12,416

9,977

12,163

Cash and cash equivalents at end of period

$

12,647

$

12,416

$

10,219

Supplemental disclosure of cash flow information:

Cash paid for interest

$

361

$

397

$

240

Cash paid for income taxes

$

273

$

251

$

186