Broadcom Inc. Announces First Quarter Fiscal Year 2024 Financial Results and Quarterly Dividend

 

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



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