BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(IN MILLIONS)

Fiscal Quarter Ended

January 31,

November 1,

February 2,

2021

2020

2020

Cash flows from operating activities:

Net income

$

1,378

$

1,324

$

385

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

Amortization of intangible and right-of-use assets

1,395

1,589

1,582

Depreciation

138

139

146

Stock-based compensation

444

449

545

Deferred taxes and other non-cash taxes

(149)

(459)

(72)

Loss on debt extinguishment

172

16

5

Unrealized gain on investments

(119)

-

-

Non-cash restructuring, impairment and disposal charges

15

12

11

Non-cash interest expense

22

25

30

Other

(5)

(9)

19

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

  Trade accounts receivable, net

(247)

391

(392)

  Inventory

51

67

40

  Accounts payable

44

(230)

117

  Employee compensation and benefits

(375)

142

(217)

  Other current assets and current liabilities

408

(131)

346

  Other long-term assets and long-term liabilities

(59)

23

(223)

Net cash provided by operating activities

3,113

3,348

2,322

Cash flows from investing activities:

Acquisitions of businesses, net of cash acquired

(8)

-

(10,870)

Purchases of property, plant and equipment

(114)

(102)

(108)

Proceeds from disposals of property, plant and equipment

-

2

-

Other

-

-

(9)

Net cash used in investing activities

(122)

(100)

(10,987)

Cash flows from financing activities:

Proceeds from long-term borrowings

9,904

-

15,381

Repayment of debt

(9,200)

(3,000)

(4,537)

Other borrowings, net

-

-

718

Payment of dividends

(1,543)

(1,395)

(1,372)

Shares repurchased for tax withholdings on vesting of equity awards

(225)

(185)

(169)

Issuance of common stock

35

102

37

Other

(28)

(9)

(4)

Net cash provided by (used in) financing activities

(1,057)

(4,487)

10,054

Net change in cash and cash equivalents

1,934

(1,239)

1,389

Cash and cash equivalents at beginning of period

7,618

8,857

5,055

Cash and cash equivalents at end of period

$

9,552

$

7,618

$

6,444

Supplemental disclosure of cash flow information:

Cash paid for interest

$

372

$

383

$

381

Cash paid for income taxes

$

147

$

202

$

131