BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(IN MILLIONS)

Fiscal Quarter Ended

Fiscal Year Ended

October 31,

August 1,

November 1,

October 31,

November 1,

2021

2021

2020

2021

2020

Cash flows from operating activities:

Net income

$

1,989

$

1,876

$

1,324

$

6,736

$

2,960

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

Amortization of intangible and right-of-use assets

1,367

1,369

1,589

5,502

6,335

Depreciation

134

134

139

539

570

Stock-based compensation

414

421

449

1,704

1,976

Deferred taxes and other non-cash taxes

(47)

(436)

(459)

(809)

(1,142)

Loss on debt extinguishment

-

-

16

198

169

(Gains) losses on investments

(9)

4

-

(99)

-

Non-cash restructuring, impairment and disposal charges

3

8

12

38

44

Non-cash interest expense

29

24

25

96

108

Other

(6)

-

(9)

(14)

(52)

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

  Trade accounts receivable, net

160

191

391

210

981

  Inventory

(137)

(156)

67

(294)

(31)

  Accounts payable

101

156

(230)

243

(3)

  Employee compensation and benefits

172

254

142

186

217

  Other current assets and current liabilities

(540)

(227)

(131)

(177)

331

  Other long-term assets and long-term liabilities

(89)

(77)

23

(295)

(402)

Net cash provided by operating activities

3,541

3,541

3,348

13,764

12,061

Cash flows from investing activities:

Acquisitions of businesses, net of cash acquired

-

-

-

(8)

(10,872)

Proceeds from sales of businesses

45

-

-

45

218

Purchases of property, plant and equipment

(88)

(115)

(102)

(443)

(463)

Proceeds from disposals of property, plant and equipment

-

1

2

4

12

Proceeds from sales of investments

102

67

-

169

-

Other

(9)

-

-

(12)

(4)

Net cash provided by (used in) investing activities

50

(100)

(245)

(11,109)

Cash flows from financing activities:

Proceeds from long-term borrowings

-

-

-

9,904

27,802

Payments on debt obligations

(762)

-

(3,000)

(11,495)

(18,814)

Other borrowings, net

-

-

-

-

(1,285)

Payments of dividends

(1,561)

(1,556)

(1,395)

(6,212)

(5,534)

Shares repurchased for tax withholdings on vesting of equity awards

(266)

(347)

(185)

(1,299)

(765)

Issuance of common stock

57

7

102

170

276

Other

(1)

(11)

(9)

(42)

(69)

Net cash provided by (used in) financing activities

(2,533)

(1,907)

(4,487)

(8,974)

1,611

Net change in cash and cash equivalents

1,058

1,587

(1,239)

4,545

2,563

Cash and cash equivalents at beginning of period

11,105

9,518

8,857

7,618

5,055

Cash and cash equivalents at end of period

$

12,163

$

11,105

$

7,618

$

12,163

$

7,618

Supplemental disclosure of cash flow information:

Cash paid for interest

$

571

$

253

$

383

$

1,565

$

1,408

Cash paid for income taxes

$

168

$

167

$

202

$

775

$

501