Broadcom Reports Fourth Quarter and Full Year 2014 Results

The following table presents details of total stock-based compensation expense included in each functional line item in the unaudited condensed consolidated statements of income above:























Three Months Ended


Year Ended


December 31,


September 30,


December 31,


December 31,


2014


2014


2013


2014


2013

Cost of revenue

$

5



$

6



$

6



$

22



$

25


Research and development

67



73



83



304



363


Selling, general and administrative

25



28



28



111



130
























BROADCOM CORPORATION

Unaudited Condensed Consolidated Statements of Cash Flows

(In millions)












Three Months Ended


Year Ended


December 31,


September 30,


December 31,


December 31,


2014


2014


2013


2014


2013

Operating activities










Net income

$

390



$

98



$

168



$

652



$

424


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










Depreciation and amortization

37



42



51



178



173


Stock-based compensation expense

97



107



117



437



518


Acquisition-related items:










Amortization of purchased intangible assets

45



54



56



214



228


Impairments of long-lived assets

14



200





404



511


Loss (gain) on sale of assets and other

3



3





(41)



(2)


Changes in operating assets and liabilities, net of acquisitions:










Accounts receivable, net

134



(142)



57



(9)



(55)


Inventory

93



(10)



16



(7)



2


Prepaid expenses and other assets

7



11



(28)



14



(25)


Accounts payable

(176)





44



(79)



24


Deferred revenue

(11)



(7)



(4)



87



(15)


Other accrued and long-term liabilities



105



(86)



75



2


Net cash provided by operating activities

633



461



391



1,925



1,785


Investing activities










Net purchases of property and equipment

(48)



(56)



(56)



(262)



(228)


Net cash paid for acquired companies

(5)



(3)



(142)



(14)



(142)


Proceeds from sale of certain assets and other

2





(15)



92



(15)


Purchases of marketable securities

(2,003)



(955)



(468)



(3,871)



(2,682)


Proceeds from sales and maturities of marketable securities

1,724



447



575



3,141



2,071


Net cash used in investing activities

(330)



(567)



(106)



(914)



(996)


Financing activities










Issuance of long-term debt, net



592





592




Payments of long-term debt



(400)



(300)



(400)



(300)


Repurchases of Class A common stock

(104)



(227)



(2)



(522)



(597)


Dividends paid

(72)



(71)



(64)



(283)



(254)


Proceeds from issuance of common stock

198



136



240



617



532


Minimum tax withholding paid on behalf of employees for restricted stock units

(34)



(34)



(26)



(127)



(130)


Net cash used in financing activities

(12)



(4)



(152)



(123)



(749)


Increase (decrease) in cash and cash equivalents

291



(110)



133



888



40


Cash and cash equivalents at beginning of period

2,254



2,364



1,524



1,657



1,617


Cash and cash equivalents at end of period

$

2,545



$

2,254



$

1,657



$

2,545



$

1,657



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