BROADCOM INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(IN MILLIONS)

Fiscal Quarter Ended

Fiscal Year Ended

October 29,

July 30,

October 30,

October 29,

October 30,

2023

2023

2022

2023

2022

Cash flows from operating activities:

Net income

$

3,524

$

3,303

$

3,359

$

14,082

$

11,495

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

Amortization of intangible and right-of-use assets

808

810

1,087

3,333

4,455

Depreciation

124

122

129

502

529

Stock-based compensation

638

629

387

2,171

1,533

Deferred taxes and other non-cash taxes

639

(251)

(89)

(501)

(34)

Loss on debt extinguishment

-

-

-

-

100

Non-cash interest expense

34

33

32

132

129

Other

27

-

31

9

183

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

  Trade accounts receivable, net

(231)

135

(241)

(187)

(870)

  Inventory

(56)

44

(87)

27

(627)

  Accounts payable

215

188

304

209

(79)

  Employee compensation and benefits

103

184

128

(279)

136

  Other current assets and current liabilities

(694)

(339)

(388)

(628)

222

  Other long-term assets and long-term liabilities

(303)

(139)

(69)

(785)

(436)

Net cash provided by operating activities

4,828

4,719

4,583

18,085

16,736

Cash flows from investing activities:

Acquisitions of businesses, net of cash acquired

(36)

(17)

(7)

(53)

(246)

Purchases of property, plant and equipment

(105)

(122)

(122)

(452)

(424)

Purchases of investments

(58)

(91)

-

(346)

(200)

Sales of investments

154

74

-

228

200

Other

(79)

12

1

(66)

3

Net cash used in investing activities

(124)

(144)

(128)

(689)

(667)

Cash flows from financing activities:

Proceeds from long-term borrowings

-

-

-

-

1,935

Payments on debt obligations

(143)

-

(9)

(403)

(2,361)

Payments of dividends

(1,904)

(1,901)

(1,782)

(7,645)

(7,032)

Repurchases of common stock - repurchase program

(123)

(1,707)

-

(5,824)

(7,000)

Shares repurchased for tax withholdings on vesting of equity awards

(454)

(460)

(274)

(1,861)

(1,455)

Issuance of common stock

59

-

54

122

114

Other

(5)

(5)

(5)

(12)

(17)

Net cash used in financing activities

(2,570)

(4,073)

(2,016)

(15,623)

(15,816)

Net change in cash and cash equivalents

2,134

502

2,439

1,773

253

Cash and cash equivalents at beginning of period

12,055

11,553

9,977

12,416

12,163

Cash and cash equivalents at end of period

$

14,189

$

12,055

$

12,416

$

14,189

$

12,416

Supplemental disclosure of cash flow information:

Cash paid for interest

$

397

$

348

$

397

$

1,503

$

1,386

Cash paid for income taxes

$

191

$

427

$

251

$

1,782

$

908