BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(IN MILLIONS)

 Fiscal Quarter Ended 

February 3,

November 4, 

February 4,

2019

2018

2018

Cash flows from operating activities:

Net income

$                 471

$              1,115

$              6,566

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

  Amortization of intangible assets

1,316

836

1,058

  Depreciation

143

132

126

  Stock-based compensation

465

317

299

  Deferred taxes and other non-cash taxes

(379)

242

(5,832)

  Impairment on investment

-

106

-

  Non-cash restructuring, impairment and disposal charges

92

8

5

  Non-cash interest expense

13

6

6

  Other

(21)

15

3

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

    Trade accounts receivable, net

68

(312)

199

    Inventory

50

92

250

    Accounts payable

(169)

28

(403)

    Employee compensation and benefits

(458)

93

(376)

    Contributions to defined benefit pension plans

-

-

(129)

    Other current assets and current liabilities

506

163

284

    Other long-term assets and long-term liabilities

35

(206)

(371)

Net cash provided by operating activities

2,132

2,635

1,685

Cash flows from investing activities:

  Acquisitions of businesses, net of cash acquired

(16,027)

(7)

(4,786)

  Business sale proceeds (repayments)

957

(9)

782

  Purchases of property, plant and equipment

(99)

(106)

(220)

  Proceeds from disposals of property, plant and equipment

-

1

237

  Purchases of investments

-

-

(244)

  Other

(24)

3

4

Net cash used in investing activities

(15,193)

(118)

(4,227)

Cash flows from financing activities:

  Proceeds from long-term borrowings

17,896

-

-

  Repayment of debt

-

(117)

(856)

  Payment of debt issuance costs

(46)

-

-

  Other borrowings

531

-

-

  Dividend and distribution payments

(1,067)

(723)

(755)

  Repurchases of common stock - repurchase program

(3,436)

(1,533)

-

  Shares repurchased for tax witholdings on vesting of equity awards

(77)

(21)

-

  Issuance of common stock

62

59

34

  Other

(1)

(26)

(9)

Net cash provided by (used in) financing activities

13,862

(2,361)

(1,586)

Net change in cash and cash equivalents

801

156

(4,128)

Cash and cash equivalents at the beginning of period

4,292

4,136

11,204

Cash and cash equivalents at end of period

$              5,093

$              4,292

$              7,076

Supplemental disclosure of cash flow information:

Cash paid for interest

$                 423

$                     2

$                 232

Cash paid for income taxes

$                   95

$                 189

$                 109