BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(IN MILLIONS)

Fiscal Quarter Ended

January 30,

October 31,

January 31,

2022

2021

2021

Cash flows from operating activities:

Net income

$

2,472

$

1,989

$

1,378

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

Amortization of intangible and right-of-use assets

1,151

1,367

1,395

Depreciation

136

134

138

Stock-based compensation

387

414

444

Deferred taxes and other non-cash taxes

70

(47)

(149)

Loss on debt extinguishment

-

-

172

(Gains) losses on investments

16

(9)

(119)

Non-cash interest expense

32

29

22

Other

(1)

(3)

10

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

  Trade accounts receivable, net

(468)

160

(247)

  Inventory

(223)

(137)

51

  Accounts payable

-

101

44

  Employee compensation and benefits

(528)

172

(375)

  Other current assets and current liabilities

521

(540)

408

  Other long-term assets and long-term liabilities

(79)

(89)

(59)

Net cash provided by operating activities

3,486

3,541

3,113

Cash flows from investing activities:

Proceeds from sales of businesses

-

45

-

Purchases of property, plant and equipment

(101)

(88)

(114)

Purchases of investments

(200)

-

-

Proceeds from sales of investments

-

102

-

Other

(8)

(9)

(8)

Net cash provided by (used in) investing activities

(309)

50

(122)

Cash flows from financing activities:

Proceeds from long-term borrowings

-

-

9,904

Payments on debt obligations

(255)

(762)

(9,200)

Payments of dividends

(1,764)

(1,561)

(1,543)

Repurchases of common stock - repurchase program

(2,724)

-

-

Shares repurchased for tax withholdings on vesting of equity awards

(375)

(266)

(225)

Issuance of common stock

1

57

35

Other

(4)

(1)

(28)

Net cash used in financing activities

(5,121)

(2,533)

(1,057)

Net change in cash and cash equivalents

(1,944)

1,058

1,934

Cash and cash equivalents at beginning of period

12,163

11,105

7,618

Cash and cash equivalents at end of period

$

10,219

$

12,163

$

9,552

Supplemental disclosure of cash flow information:

Cash paid for interest

$

240

$

571

$

372

Cash paid for income taxes

$

186

$

168

$

147