Purchases of investments

[Table of Contents](#i02bedaa3ef9a402693e3fc0f0d740b61_7)BROADCOM INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS — UNAUDITED

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Three Fiscal Quarters Ended |
|  |  | July 31,2022 |  | August 1,2021 |
|  |  |  |  |  |
|  |  | (In millions) |
| Cash flows from operating activities: |  |  |  |  |
| Net income |  | $ | 8,136  |  |  | $ | 4,747  |  |
| Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |
| Amortization of intangible and right-of-use assets |  | 3,368  |  |  | 4,135  |  |
| Depreciation |  | 400  |  |  | 405  |  |
| Stock-based compensation |  | 1,146  |  |  | 1,290  |  |
| Deferred taxes and other non-cash taxes |  | 55  |  |  | (762) |  |
| Loss on debt extinguishment |  | 100  |  |  | 198  |  |
| (Gain) loss on investments |  | 140  |  |  | (90) |  |
|  |  |  |  |  |
| Non-cash interest expense |  | 97  |  |  | 67  |  |
| Other |  | 12  |  |  | 27  |  |
| Changes in assets and liabilities, net of acquisitions and disposals: |  |  |  |  |
| Trade accounts receivable, net |  | (629) |  |  | 50  |  |
| Inventory |  | (540) |  |  | (157) |  |
| Accounts payable |  | (383) |  |  | 142  |  |
| Employee compensation and benefits |  | 8  |  |  | 14  |  |
|  |  |  |  |  |
| Other current assets and current liabilities |  | 610  |  |  | 363  |  |
| Other long-term assets and long-term liabilities |  | (367) |  |  | (206) |  |
| Net cash provided by operating activities |  | 12,153  |  |  | 10,223  |  |
| Cash flows from investing activities: |  |  |  |  |
| Acquisitions of businesses, net of cash acquired |  | (239) |  |  | (8) |  |
|  |  |  |  |  |
| Purchases of property, plant and equipment |  | (302) |  |  | (355) |  |
|  |  |  |  |  |
| Purchases of investments |  | (200) |  |  | —  |  |
| Sales of investments |  | 200  |  |  | 67  |  |
| Other |  | 2  |  |  | 1  |  |
| Net cash used in investing activities |  | (539) |  |  | (295) |  |
| Cash flows from financing activities: |  |  |  |  |
| Proceeds from long-term borrowings |  | 1,935  |  |  | 9,904  |  |
| Payments on debt obligations |  | (2,352) |  |  | (10,733) |  |
|  |  |  |  |  |
|  |  |  |  |  |
|  |  |  |  |  |
| Payments of dividends |  | (5,250) |  |  | (4,651) |  |
| Repurchases of common stock - repurchase program |  | (7,000) |  |  | —  |  |
| Shares repurchased for tax withholdings on vesting of equity awards |  | (1,181) |  |  | (1,033) |  |
| Issuance of common stock |  | 60  |  |  | 113  |  |
|  |  |  |  |  |
| Other |  | (12) |  |  | (41) |  |
| Net cash used in financing activities |  | (13,800) |  |  | (6,441) |  |
| Net change in cash and cash equivalents |  | (2,186) |  |  | 3,487  |  |
| Cash and cash equivalents at beginning of period |  | 12,163  |  |  | 7,618  |  |
| Cash and cash equivalents at end of period |  | $ | 9,977  |  |  | $ | 11,105  |  |

  
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.5
