−Removed: MARKET FOR THE REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER SALE AND PURCHASES OF EQUITY SECURITIES
+Added: MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Information
2 unchanged sentences
A substantially greater number of stockholders are “street name” or beneficial holders, whose shares are held of record by banks, brokers and other financial institutions.
−Removed: On December 8, 2020, our Board of Directors declared a quarterly cash dividend of $3.60 per share, payable on December 31, 2020 to common stockholders of record on December 21, 2020.
−Removed: Broadcom paid aggregate cash dividends of $5,235 million and $4,235 million to common stockholders in fiscal years 2020 and 2019, respectively.
−Removed: The declaration and payment of any future cash dividends are at the discretion and approval of our Board of Directors and subject to our Board of Directors’ continuing determination that they are in our best interests.
Issuer Purchases of Equity Securities
−Removed: During the fiscal quarter ended November 1, 2020, we paid approximately $185 million in employee withholding taxes due upon the vesting of net settled equity awards.
+Added: During the fiscal quarter ended October 31, 2021, we paid approximately $266 million in employee withholding taxes due upon the vesting of net settled equity awards.
We withheld approximately 1 million shares of common stock from employees in connection with such net share settlement at an average price of $505.59 per share.
These shares may be deemed to be “issuer purchases” of shares.
+Added: In December 2021, our Board of Directors authorized a stock repurchase program to repurchase up to $10 billion of our common stock from time to time on or prior to December 31, 2022.
+Added: Repurchases under our stock repurchase program may be effected through a variety of methods, including open market or privately negotiated purchases.
+Added: The timing and amount of shares repurchased will depend on the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, acquisition opportunities and other factors.
+Added: We are not obligated to repurchase any specific amount of shares of common stock, and the stock repurchase program may be suspended or terminated at any time.
Stock Performance Graph
−Removed: The following graph shows a comparison of cumulative total return for our common stock, the Standard & Poor’s 500 Stock Index (the “S&P 500 Index”) and the NASDAQ 100 Index for the five fiscal years ended November 1, 2020.
+Added: The following graph shows a comparison of cumulative total return for our common stock, the Standard & Poor’s 500 Stock Index (the “S&P 500 Index”) and the NASDAQ 100 Index for the five fiscal years ended October 31, 2021.
The total return graph and table assume that $100 was invested on October 28, 2016 (the last trading day of our fiscal year 2016) in each of Broadcom Inc.
4 unchanged sentences
Among Broadcom Inc., the S&P 500 Index and the NASDAQ 100 Index
−Removed: November 1, 2015 October 30, 2016 October 29, 2017 November 4, 2018 November 3, 2019 November 1, 2020
+Added: October 30, 2016 October 29, 2017 November 4, 2018 November 3, 2019 November 1, 2020 October 31, 2021
Broadcom Inc.
3 unchanged sentences
The graph and the table above shall not be deemed “filed” with the SEC for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by us with the SEC, regardless of any general incorporation language in such filing.
−Removed: Securities Authorized for Issuance Under Equity Compensation Plans
−Removed: The information required by this item regarding securities authorized for issuance under equity compensation plans is incorporated herein by reference to the definitive Proxy Statement for our 2021 annual meeting of stockholders to be filed with the SEC within 120 days after the end of fiscal year 2020.
−Removed: SELECTED FINANCIAL DATA
−Removed: The following table sets forth the selected consolidated financial data as of and for the last five fiscal years of Broadcom and should be read in conjunction with our annual consolidated financial statements and related notes and information included under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included elsewhere in this Annual Report on Form 10-K.
−Removed: On November 4, 2019, we acquired the Symantec Business for total consideration of $10.7 billion.
−Removed: On November 5, 2018, we acquired CA for total consideration of $18.8 billion.
−Removed: On November 17, 2017, we acquired Brocade for total consideration of $6.0 billion.
−Removed: On February 1, 2016, we acquired BRCM for total consideration of $35.7 billion.
−Removed: Our financial statements included the results of operations of the acquired companies and estimated fair value of assets acquired and liabilities assumed commencing as of their respective acquisition dates.
−Removed: Fiscal Year Ended (1)
−Removed: 2020 November 3,
−Removed: 2019 November 4,
−Removed: 2018 October 29,
−Removed: 2017 October 30,
−Removed: (In millions, except per share data)
−Removed: Total net revenue (2)
−Removed: $ 23,888 $ 22,597 $ 20,848 $ 17,636 $ 13,240
−Removed: Income (loss) from continuing operations (3) (4)
−Removed: $ 2,961 $ 2,736 $ 12,629 $ 1,790 $ (1,749)
−Removed: Income (loss) per common share from continuing operations - basic (3) (4)
−Removed: $ 6.62 $ 6.80 $ 29.37 $ 4.19 $ (4.46)
−Removed: Income (loss) per common share from continuing operations - diluted (3) (4)
−Removed: $ 6.33 $ 6.46 $ 28.48 $ 4.03 $ (4.57)
−Removed: Cash dividends declared and paid per common share $ 13.00 $ 10.60 $ 7.00 $ 4.08 $ 1.94
−Removed: Cash and cash equivalents $ 7,618 $ 5,055 $ 4,292 $ 11,204 $ 3,097
−Removed: Total assets $ 75,933 $ 67,493 $ 50,124 $ 54,418 $ 49,966
−Removed: Debt and finance lease obligations $ 41,062 $ 32,798 $ 17,493 $ 17,569 $ 13,642
−Removed: _______________________________________
−Removed: (1) Our fiscal year ends on the Sunday closest to October 31 in a 52-week year and on the first Sunday in November in a 53-week year.
−Removed: Our fiscal year ended November 4, 2018 was a 53-week fiscal year.
−Removed: All other fiscal years presented included 52 weeks.
−Removed: (2) During fiscal year 2019, we adopted ASU 2014-09, Revenue from Contracts with Customers (“Topic 606”).
−Removed: Periods prior to fiscal year 2019 were presented in accordance with Accounting Standards Codification 605, Revenue Recognition.
−Removed: (3) In connection with our acquisitions of the Symantec Business and CA in fiscal years 2020 and 2019, amortization of acquisition-related intangible assets increased $1,008 million and $1,667 million, respectively.
−Removed: In connection with our acquisition of BRCM in the fiscal year ended October 30, 2016, our results included $1,185 million of purchase accounting effect on inventory.
−Removed: (4) Our income from continuing operations and income per share from continuing operations in fiscal year 2018 were significantly impacted by the benefit from income taxes as a result of the enactment of the 2017 Tax Reform Act and our redomiciliation to the United States in fiscal year 2018.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.