Broadcom Reports Second Quarter 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


Six Months Ended


June 30,


March 31,


June 30,


June 30,


2014


2014


2013


2014


2013

Cost of product revenue

$

5



$

6



$

6



$

11



$

13


Research and development

80



84



95



164



194


Selling, general and administrative

28



30



35



58



69


 






















BROADCOM CORPORATION

Unaudited Condensed Consolidated Statements of Cash Flows

(In millions)












Three Months Ended


Six Months Ended


June 30,


March 31,


June 30,


June 30,


2014


2014


2013


2014


2013

Operating activities










Net income (loss)

$

(1)



$

165



$

(251)



$

164



$

(60)


Adjustments to reconcile net income (loss) to net cash provided by operating activities:










Depreciation and amortization

47



52



39



99



78


Stock-based compensation expense

113



120



136



233



276


Acquisition-related items:










Amortization of purchased intangible assets

56



59



58



115



116


Impairments of long-lived assets

165



25



501



190



511


Loss (gain) on sale of assets and other

2



(49)



(1)



(47)



(1)


Changes in operating assets and liabilities, net of acquisitions:










Accounts receivable, net

(62)



61



(10)



(1)



(21)


Inventory

(85)



(5)



(87)



(90)



(83)


Prepaid expenses and other assets

(8)



4



7



(4)



(27)


Accounts payable

105



(8)



(17)



97



92


Deferred revenue

(10)



115



(7)



105



(9)


Other accrued and long-term liabilities

(97)



67



(34)



(30)



(150)


Net cash provided by operating activities

225



606



334



831



722


Investing activities










Net purchases of property and equipment

(80)



(78)



(67)



(158)



(108)


Net cash paid for acquired companies

(6)







(6)




Proceeds from sale of certain assets and other



90





90




Purchases of marketable securities

(436)



(477)



(917)



(913)



(1,536)


Proceeds from sales and maturities of marketable securities

467



503



566



970



1,105


Net cash provided by (used in) investing activities

(55)



38



(418)



(17)



(539)


Financing activities










Repurchases of Class A common stock

(191)





(110)



(191)



(217)


Dividends paid

(70)



(70)



(64)



(140)



(127)


Proceeds from issuance of common stock

229



54



199



283



267


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

(28)



(31)



(38)



(59)



(78)


Net cash used in financing activities

(60)



(47)



(13)



(107)



(155)


Increase (decrease) in cash and cash equivalents

110



597



(97)



707



28


Cash and cash equivalents at beginning of period

2,254



1,657



1,742



1,657



1,617


Cash and cash equivalents at end of period

$

2,364



$

2,254



$

1,645



$

2,364



$

1,645



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