The following table presents details of total stock-based compensation expense included in each functional line item in the unaudited condensed consolidated statements of income above:
|
|
Three Months Ended | ||||||||||
|
|
March 31, |
|
December 31, |
|
March 31, | ||||||
|
|
2014 |
|
2013 |
|
2013 | ||||||
|
Cost of product revenue |
$ |
6 |
|
|
$ |
6 |
|
|
$ |
7 |
|
|
Research and development |
84 |
|
|
83 |
|
|
99 |
| |||
|
Selling, general and administrative |
30 |
|
|
28 |
|
|
34 |
| |||
|
BROADCOM CORPORATION | |||||||||||
|
Unaudited Condensed Consolidated Statements of Cash Flows | |||||||||||
|
(In millions) | |||||||||||
|
|
|
|
|
|
| ||||||
|
|
Three Months Ended | ||||||||||
|
|
March 31, |
|
December 31, |
|
March 31, | ||||||
|
|
2014 |
|
2013 |
|
2013 | ||||||
|
Operating activities |
|
|
|
|
| ||||||
|
Net income |
$ |
165 |
|
|
$ |
168 |
|
|
$ |
191 |
|
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
|
| ||||||
|
Depreciation and amortization |
52 |
|
|
51 |
|
|
39 |
| |||
|
Stock-based compensation expense |
120 |
|
|
117 |
|
|
140 |
| |||
|
Acquisition-related items: |
|
|
|
|
| ||||||
|
Amortization of purchased intangible assets |
59 |
|
|
56 |
|
|
58 |
| |||
|
Impairments of long-lived assets |
25 |
|
|
— |
|
|
10 |
| |||
|
Gain on sale of assets and other |
(49) |
|
|
— |
|
|
— |
| |||
|
Changes in operating assets and liabilities, net of acquisitions: |
|
|
|
|
| ||||||
|
Accounts receivable, net |
61 |
|
|
57 |
|
|
(11) |
| |||
|
Inventory |
(5) |
|
|
16 |
|
|
4 |
| |||
|
Prepaid expenses and other assets |
4 |
|
|
(28) |
|
|
(34) |
| |||
|
Accounts payable |
(8) |
|
|
44 |
|
|
109 |
| |||
|
Deferred revenue |
115 |
|
|
(4) |
|
|
(2) |
| |||
|
Other accrued and long-term liabilities |
67 |
|
|
(86) |
|
|
(116) |
| |||
|
Net cash provided by operating activities |
606 |
|
|
391 |
|
|
388 |
| |||
|
Investing activities |
|
|
|
|
| ||||||
|
Net purchases of property and equipment |
(78) |
|
|
(56) |
|
|
(41) |
| |||
|
Net cash paid for acquired companies |
— |
|
|
(142) |
|
|
— |
| |||
|
Proceeds from sale (purchases) of certain assets and other |
90 |
|
|
(15) |
|
|
— |
| |||
|
Purchases of marketable securities |
(477) |
|
|
(468) |
|
|
(619) |
| |||
|
Proceeds from sales and maturities of marketable securities |
503 |
|
|
575 |
|
|
539 |
| |||
|
Net cash provided by (used in) investing activities |
38 |
|
|
(106) |
|
|
(121) |
| |||
|
Financing activities |
|
|
|
|
| ||||||
|
Payments of long-term debt |
— |
|
|
(300) |
|
|
— |
| |||
|
Repurchases of Class A common stock |
— |
|
|
(2) |
|
|
(107) |
| |||
|
Dividends paid |
(70) |
|
|
(64) |
|
|
(63) |
| |||
|
Proceeds from issuance of common stock |
54 |
|
|
240 |
|
|
68 |
| |||
|
Minimum tax withholding paid on behalf of employees for restricted stock units |
(31) |
|
|
(26) |
|
|
(40) |
| |||
|
Net cash used in financing activities |
(47) |
|
|
(152) |
|
|
(142) |
| |||
|
Increase in cash and cash equivalents |
597 |
|
|
133 |
|
|
125 |
| |||
|
Cash and cash equivalents at beginning of period |
1,657 |
|
|
1,524 |
|
|
1,617 |
| |||
|
Cash and cash equivalents at end of period |
$ |
2,254 |
|
|
$ |
1,657 |
|
|
$ |
1,742 |
|
