2018 Q4 Form 10-K Financial Statement

#000173016818000084 Filed on December 21, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2018 Q2
Revenue $5.444B $5.063B $5.014B
YoY Change 12.39% 13.44% 19.67%
Cost Of Revenue $2.508B $2.444B $2.463B
YoY Change 2.03% 5.62% 11.25%
Gross Profit $2.935B $2.619B $2.551B
YoY Change 23.16% 21.87% 29.1%
Gross Profit Margin 53.91% 51.73% 50.88%
Selling, General & Admin $237.0M $234.0M $294.0M
YoY Change 28.8% 17.0% 44.12%
% of Gross Profit 8.07% 8.93% 11.52%
Research & Development $948.0M $959.0M $936.0M
YoY Change 13.13% 15.96% 12.91%
% of Gross Profit 32.3% 36.62% 36.69%
Depreciation & Amortization $968.0M $965.0M $964.0M
YoY Change -20.59% -20.31% -19.2%
% of Gross Profit 32.98% 36.85% 37.79%
Operating Expenses $1.252B $1.280B $1.350B
YoY Change -14.42% -14.72% -10.12%
Operating Profit $1.652B $1.339B $1.201B
YoY Change 118.81% 106.64% 153.38%
Interest Expense -$148.0M $149.0M $148.0M
YoY Change 24.37% 33.04% 32.14%
% of Operating Profit -8.96% 11.13% 12.32%
Other Income/Expense, Net $24.00M $39.00M $46.00M
YoY Change -14.29% 225.0% 1433.33%
Pretax Income $1.422B $1.229B $1.099B
YoY Change 120.47% 124.27% 201.1%
Income Tax $281.0M $32.00M -$2.637B
% Of Pretax Income 19.76% 2.6% -239.95%
Net Earnings $1.115B $1.196B $3.718B
YoY Change 109.59% 148.65% 745.0%
Net Earnings / Revenue 20.48% 23.62% 74.15%
Basic Earnings Per Share $2.78 $8.83
Diluted Earnings Per Share $2.64 $2.71 $8.33
COMMON SHARES
Basic Shares Outstanding 407.3M shares 430.0M shares 421.0M shares
Diluted Shares Outstanding 441.0M shares 448.0M shares

Balance Sheet

Concept 2018 Q4 2018 Q3 2018 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.292B $4.136B $8.187B
YoY Change -61.69% -24.1% 83.81%
Cash & Equivalents $4.292B $4.136B $8.187B
Short-Term Investments
Other Short-Term Assets $366.0M $333.0M $303.0M
YoY Change -49.45% -48.45% -51.9%
Inventory $1.124B $1.216B $1.235B
Prepaid Expenses $243.0M $223.0M $174.0M
Receivables $3.325B $3.010B $2.749B
Other Receivables $65.00M $73.00M $87.00M
Total Short-Term Assets $9.107B $8.695B $12.47B
YoY Change -42.44% -12.55% 47.31%
LONG-TERM ASSETS
Property, Plant & Equipment $2.635B $2.695B $2.720B
YoY Change 1.39% -7.36% -1.52%
Goodwill $26.91B $26.92B $26.91B
YoY Change 8.93%
Intangibles $10.76B $11.60B $12.35B
YoY Change -0.65%
Long-Term Investments
YoY Change
Other Assets $707.0M $464.0M $488.0M
YoY Change 54.37% 1.53% -45.6%
Total Long-Term Assets $41.02B $41.68B $42.46B
YoY Change 6.28% 4.2% 2.61%
TOTAL ASSETS
Total Short-Term Assets $9.107B $8.695B $12.47B
Total Long-Term Assets $41.02B $41.68B $42.46B
Total Assets $50.12B $50.37B $54.94B
YoY Change -7.89% 0.86% 10.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $811.0M $785.0M $836.0M
YoY Change -26.61% -32.21% -9.62%
Accrued Expenses $160.0M $257.0M $417.0M
YoY Change -35.22% -52.93% -10.13%
Deferred Revenue $164.0M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $117.0M $117.0M
YoY Change -100.0%
Total Short-Term Liabilities $2.338B $2.187B $2.124B
YoY Change -7.55% -1.4% 3.51%
LONG-TERM LIABILITIES
Long-Term Debt $17.49B $17.49B $17.48B
YoY Change 0.36% 28.85% 28.85%
Other Long-Term Liabilities $3.636B $3.246B $3.264B
YoY Change -67.74% -71.65% -72.54%
Total Long-Term Liabilities $21.13B $20.73B $20.75B
YoY Change -26.39% -17.13% -18.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.338B $2.187B $2.124B
Total Long-Term Liabilities $21.13B $20.73B $20.75B
Total Liabilities $23.47B $22.92B $22.87B
YoY Change -24.86% -23.95% -24.83%
SHAREHOLDERS EQUITY
Retained Earnings $3.487B $4.267B $7.868B
YoY Change -2803.1%
Common Stock $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $26.66B $27.45B $32.07B
YoY Change
Total Liabilities & Shareholders Equity $50.12B $50.37B $54.94B
YoY Change -7.89% 0.86% 10.2%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2018 Q2
OPERATING ACTIVITIES
Net Income $1.115B $1.196B $3.718B
YoY Change 109.59% 148.65% 745.0%
Depreciation, Depletion And Amortization $968.0M $965.0M $964.0M
YoY Change -20.59% -20.31% -19.2%
Cash From Operating Activities $2.635B $2.247B $2.313B
YoY Change 34.51% 35.69% 46.11%
INVESTING ACTIVITIES
Capital Expenditures -$106.0M -$120.0M -$189.0M
YoY Change -54.51% -52.94% -26.17%
Acquisitions
YoY Change
Other Investing Activities -$12.00M -$54.00M $34.00M
YoY Change -101.91% 1700.0% -114.35%
Cash From Investing Activities -$118.0M -$174.0M -$155.0M
YoY Change -129.8% -32.56% -68.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $5.378B $347.0M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.361B -6.124B -1.047B
YoY Change -165.58% 1419.6% 181.45%
NET CHANGE
Cash From Operating Activities 2.635B 2.247B 2.313B
Cash From Investing Activities -118.0M -174.0M -155.0M
Cash From Financing Activities -2.361B -6.124B -1.047B
Net Change In Cash 156.0M -4.051B 1.111B
YoY Change -97.38% -507.14% 54.74%
FREE CASH FLOW
Cash From Operating Activities $2.635B $2.247B $2.313B
Capital Expenditures -$106.0M -$120.0M -$189.0M
Free Cash Flow $2.741B $2.367B $2.502B
YoY Change 25.05% 23.86% 36.05%

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CY2018 dei Document Period End Date
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2018-11-04
CY2018 dei Document Type
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10-K
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CY2018 dei Entity Registrant Name
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Broadcom Inc.
CY2018 dei Entity Shell Company
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CY2018 dei Entity Small Business
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CY2018 dei Entity Voluntary Filers
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4220000000 USD
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0 USD
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776000000 USD
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405000000 shares
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418000000 shares
CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:Calibri,sans-serif;font-size:10pt;font-style:italic;">Concentrations of credit risk and significant customers.</font><font style="font-family:Calibri,sans-serif;font-size:10pt;">&#160;&#160;Our cash, cash equivalents and accounts receivable are potentially subject to concentration of credit risk. Cash and cash equivalents may be redeemable upon demand and are maintained with several financial institutions that management believes are of high credit quality and therefore bear minimal credit risk. We seek to mitigate our credit risks by spreading such risks across multiple counterparties and monitoring the risk profile of these counterparties. Our accounts receivable are derived from revenue earned from customers located both within and outside the U.S. We mitigate collection risks from our customers by performing regular credit evaluations of our customers&#8217; financial conditions, and require collateral, such as letters of credit and bank guarantees, in certain circumstances.</font></div></div>
CY2018 us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-indent:30px;font-size:10pt;"><font style="font-family:Calibri,sans-serif;font-size:10pt;">We operate on a </font><font style="font-family:Calibri,sans-serif;font-size:10pt;">52- or 53-week</font><font style="font-family:Calibri,sans-serif;font-size:10pt;"> fiscal year ending on the Sunday closest to October 31 in a 52-week year and the first Sunday in November in a 53-week year. Our fiscal year </font><font style="font-family:Calibri,sans-serif;font-size:10pt;">2018</font><font style="font-family:Calibri,sans-serif;font-size:10pt;"> was a 53-week fiscal year, with our first fiscal quarter containing 14 weeks. The first quarter of our fiscal year </font><font style="font-family:Calibri,sans-serif;font-size:10pt;">2018</font><font style="font-family:Calibri,sans-serif;font-size:10pt;"> ended on February 4, 2018, the second quarter ended on May 6, 2018 and the third quarter ended on August 5, 2018. Our fiscal years ended </font><font style="font-family:Calibri,sans-serif;font-size:10pt;">October&#160;29, 2017</font><font style="font-family:Calibri,sans-serif;font-size:10pt;">, or fiscal year </font><font style="font-family:Calibri,sans-serif;font-size:10pt;">2017</font><font style="font-family:Calibri,sans-serif;font-size:10pt;">, and </font><font style="font-family:Calibri,sans-serif;font-size:10pt;">October&#160;30, 2016</font><font style="font-family:Calibri,sans-serif;font-size:10pt;">, or fiscal year </font><font style="font-family:Calibri,sans-serif;font-size:10pt;">2016</font><font style="font-family:Calibri,sans-serif;font-size:10pt;">, were 52-week fiscal years.</font></div></div>
CY2018 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:Calibri,sans-serif;font-size:10pt;font-style:italic;">Reclassifications.</font><font style="font-family:Calibri,sans-serif;font-size:10pt;"> Certain&#160;reclassifications&#160;have been made to the prior period consolidated balance sheet and statements of cash flows. These&#160;reclassifications&#160;have no impact on the previously reported net assets or net cash activities.</font></div></div>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:30px;font-size:10pt;"><font style="font-family:Calibri,sans-serif;font-size:10pt;font-style:italic;">Use of estimates.</font><font style="font-family:Calibri,sans-serif;font-size:10pt;">&#160;&#160;The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates, and such differences could affect the results of operations reported in future periods.</font></div></div>

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