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

 

BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(IN MILLIONS)



















Fiscal Quarter Ended


Three Fiscal Quarters Ended



August 4,


May 5,


July 30,


August 4,


July 30,



2024


2024


2023


2024


2023

Cash flows from operating activities:
















Net income (loss)


$

(1,875)


$

2,121


$

3,303


$

1,571


$

10,558

Adjustments to reconcile net income (loss) to net cash provided by operating activities:                                   













Amortization of intangible and right-of-use assets



2,375



2,381



810



6,962



2,525

Depreciation



149



149



122



437



378

Stock-based compensation



1,388



1,457



629



4,427



1,533

Deferred taxes and other non-cash taxes



3,638



(511)



(251)



2,833



(1,140)

Loss on debt extinguishment



83



22



-



105



-

Non-cash interest expense



115



119



33



336



98

Other



158



70



-



266



(18)

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
















  Trade accounts receivable, net



835



(513)



135



2,078



44

  Inventory



(52)



82



44



16



83

  Accounts payable



373



(93)



188



206



(6)

  Employee compensation and benefits



291



251



184



(118)



(382)

  Other current assets and current liabilities



(1,345)



(386)



(339)



(3,913)



66

  Other long-term assets and long-term liabilities



(1,170)



(569)



(139)



(848)



(482)

Net cash provided by operating activities



4,963



4,580



4,719



14,358



13,257

















Cash flows from investing activities:
















Acquisitions of businesses, net of cash acquired



(2)



(560)



(17)



(25,978)



(17)

Proceeds from sale of business



3,485



-



-



3,485



-

Purchases of property, plant and equipment



(172)



(132)



(122)



(426)



(347)

Purchases of investments



(73)



(59)



(91)



(145)



(288)

Sales of investments



5



42



74



136



74

Other



2



3



12



(10)



13

Net cash provided by (used in) investing activities



3,245



(706)



(144)



(22,938)



(565)

















Cash flows from financing activities:
















Proceeds from long-term borrowings



4,975



-



-



34,985



-

Payments on debt obligations



(9,202)



(2,000)



-



(12,136)



(260)

Payments of dividends



(2,452)



(2,443)



(1,901)



(7,330)



(5,741)

Repurchases of common stock - repurchase program



-



-



(1,707)



(7,176)



(5,701)

Shares repurchased for tax withholdings on vesting of equity awards



(1,350)



(1,548)



(460)



(4,012)



(1,407)

Issuance of common stock



-



64



-



64



63

Other



(36)



(2)



(5)



(52)



(7)

Net cash provided by (used in) financing activities



(8,065)



(5,929)



(4,073)



4,343



(13,053)

















Net change in cash and cash equivalents



143



(2,055)



502



(4,237)



(361)

Cash and cash equivalents at beginning of period



9,809



11,864



11,553



14,189



12,416

Cash and cash equivalents at end of period


$

9,952


$

9,809


$

12,055


$

9,952


$

12,055

















Supplemental disclosure of cash flow information:
















Cash paid for interest


$

816


$

946


$

348


$

2,512


$

1,106

Cash paid for income taxes


$

585


$

834


$

427


$

2,323


$

1,591


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