Stock Analysis on Net

Broadcom Inc. (NASDAQ:AVGO)

Income Statement 

Broadcom Inc., consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Oct 31, 2021 Nov 1, 2020 Nov 3, 2019 Nov 4, 2018 Oct 29, 2017 Oct 30, 2016
Products 20,886  17,435  18,117  19,754  17,033  13,240 
Subscriptions and services 6,564  6,453  4,480  1,094  603  — 
Net revenue 27,450  23,888  22,597  20,848  17,636  13,240 
Cost of products sold (6,555) (5,892) (6,208) (6,924) (6,549) (5,295)
Cost of subscriptions and services (607) (626) (515) (97) (44) — 
Purchase accounting effect on inventory —  —  —  (70) (4) (1,185)
Amortization of acquisition-related intangible assets (3,427) (3,819) (3,314) (3,004) (2,511) (763)
Restructuring charges (17) (35) (77) (20) (19) (57)
Cost of revenue (10,606) (10,372) (10,114) (10,115) (9,127) (7,300)
Gross margin 16,844  13,516  12,483  10,733  8,509  5,940 
Research and development (4,854) (4,968) (4,696) (3,768) (3,292) (2,674)
Selling, general and administrative (1,347) (1,935) (1,709) (1,056) (787) (806)
Amortization of acquisition-related intangible assets (1,976) (2,401) (1,898) (541) (1,764) (1,873)
Restructuring, impairment and disposal charges (148) (198) (736) (219) (161) (996)
Litigation settlements —  —  —  (14) (122) — 
Operating expenses (8,325) (9,502) (9,039) (5,598) (6,126) (6,349)
Operating income (loss) 8,519  4,014  3,444  5,135  2,383  (409)
Interest expense (1,885) (1,777) (1,444) (628) (454) (585)
Impairment on investment —  —  —  (106) —  — 
Loss on extinguishment of debt —  —  —  —  (166) (123)
Gains (losses) on investments 99  31  145  (1) — 
Other income 26  56  18  27  43  27 
Interest income 16  53  98  114  44  10 
Other expense (10) (50) (35) —  (24) (27)
Gain from lapse of indemnification —  116  —  —  —  — 
Other income, net 131  206  226  144  62  10 
Income (loss) from continuing operations before income taxes 6,765  2,443  2,226  4,545  1,825  (1,107)
(Provision for) benefit from income taxes (29) 518  510  8,084  (35) (642)
Income (loss) from continuing operations 6,736  2,961  2,736  12,629  1,790  (1,749)
Loss from discontinued operations, net of income taxes —  (1) (12) (19) (6) (112)
Net income (loss) 6,736  2,960  2,724  12,610  1,784  (1,861)
Net (income) loss attributable to noncontrolling interest —  —  —  (351) (92) 122 
Net income (loss) attributable to Broadcom Inc. stockholders 6,736  2,960  2,724  12,259  1,692  (1,739)
Dividends on preferred stock (299) (297) (29) —  —  — 
Net income (loss) attributable to common stock 6,437  2,663  2,695  12,259  1,692  (1,739)

Based on: 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-11-01), 10-K (reporting date: 2019-11-03), 10-K (reporting date: 2018-11-04), 10-K (reporting date: 2017-10-29), 10-K (reporting date: 2016-10-30).

Income statement item Description The company
Net revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Broadcom Inc. net revenue increased from 2019 to 2020 and from 2020 to 2021.
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. Broadcom Inc. operating income (loss) increased from 2019 to 2020 and from 2020 to 2021.
Income (loss) from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Broadcom Inc. income (loss) from continuing operations before income taxes increased from 2019 to 2020 and from 2020 to 2021.
Net income (loss) attributable to Broadcom Inc. stockholders The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Broadcom Inc. net income (loss) attributable to Broadcom Inc. stockholders increased from 2019 to 2020 and from 2020 to 2021.