Exhibit 99.1 Broadcom Inc. Announces Fourth Quarter and Fiscal Year 2024 Financial Results and Quarterly Dividend • Revenue of $14,054 million for the fourth quarter, up 51 percent from the prior year period • GAAP net income of $4,324 million for the fourth quarter; Non-GAAP net income of $6,965 million for the fourth quarter • Adjusted EBITDA of $9,089 million for the fourth quarter, or 65 percent of revenue • GAAP diluted EPS of $0.90 for the fourth quarter; Non-GAAP diluted EPS of $1.42 for the fourth quarter • Cash from operations of $5,604 million for the fourth quarter, less capital expenditures of $122 million, resulted in $5,482 million of free cash flow, or 39 percent of revenue • Quarterly common stock dividend increased by 11 percent from the prior quarter to $0.59 per share • First quarter fiscal year 2025 revenue guidance of approximately $14.6 billion, an increase of 22 percent from the prior year period • First quarter fiscal year 2025 Adjusted EBITDA guidance of approximately 66 percent of projected revenue (1) PALO ALTO, Calif. – December 12, 2024 – Broadcom Inc. (Nasdaq: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today reported financial results for its fourth quarter and fiscal year ended November 3, 2024, provided guidance for its first quarter of fiscal year 2025 and announced its quarterly dividend. “Broadcom’s fiscal year 2024 revenue grew 44% year-over-year to a record $51.6 billion, as infrastructure software revenue grew to $21.5 billion, on the successful integration of VMware,” said Hock Tan, President and CEO of Broadcom Inc. “Semiconductor revenue was a record $30.1 billion driven by AI revenue of $12.2 billion. AI revenue which grew 220 percent year-on-year was driven by our leading AI XPUs and Ethernet networking portfolio.” “In fiscal year 2024 adjusted EBITDA increased 37% year-over-year to a record $31.9 billion, and free cash flow excluding restructuring was strong at $21.9 billion,” said Kirsten Spears, CFO of Broadcom Inc. “Based on increased cash flows in fiscal year 2024, we are increasing our quarterly common stock dividend by 11% to $0.59 per share for fiscal year 2025. The target fiscal year 2025 annual common stock dividend of $2.36 per share is a record, and the fourteenth consecutive increase in annual dividends since we initiated dividends in fiscal 2011.” ________________________________ (1) The Company is not readily able to provide a reconciliation of the projected non-GAAP financial information presented to the relevant projected GAAP measure without unreasonable effort. 1 Fourth Quarter Fiscal Year 2024 Financial Highlights GAAP Non-GAAP (Dollars in millions, except per share data) Q4 24 Q4 23 Change Q4 24 Q4 23 Change Net revenue $ 14,054 $ 9,295 +51 % $ 14,054 $ 9,295 +51 % Net income $ 4,324 $ 3,524 +$800 $ 6,965 $ 4,810 +$2,155 Earnings per common share - diluted * $ 0.90 $ 0.83 +$0.07 $ 1.42 $ 1.11 +$0.31 (Dollars in millions) Q4 24 Q4 23 Change Cash flow from operations $ 5,604 $ 4,828 +$776 Adjusted EBITDA $ 9,089 $ 6,048 +$3,041 Free cash flow $ 5,482 $ 4,723 +$759 Net revenue by segment (Dollars in millions) Q4 24 Q4 23 Change Semiconductor solutions $ 8,230 59 % $ 7,326 79 % +12 % Infrastructure software 5,824 41 1,969 21 +196 % Total net revenue $ 14,054 100 % $ 9,295 100 % * On July 12, 2024, the Company completed a ten-for-one forward stock split. All per share amounts presented reflect the stock split. The Company’s cash and cash equivalents at the end of the fiscal quarter were $9,348 million, compared to $9,952 million at the end of the prior quarter. During the fourth fiscal quarter, the Company generated $5,604 million in cash from operations and spent $122 million on capital expenditures. The Company paid $1,204 million of withholding taxes related to net settled equity awards that vested in the quarter (resulting in the elimination of 7.4 million shares). On September 30, 2024, the Company paid a cash dividend on a split adjusted basis of $0.53 per share, totaling $2,484 million. The differences between the Company’s GAAP and non-GAAP results are described generally under “Non-GAAP Financial Measures” below and presented in detail in the financial reconciliation tables attached to this release. 2 Fiscal Year 2024 Financial Highlights GAAP Non-GAAP (Dollars in millions, except per share data) FY 24 FY 23 Change FY 24 FY 23 Change Net revenue $ 51,574 $ 35,819 +44 % $ 51,574 $ 35,819 +44 % Net income $ 5,895 $ 14,082 -$8,187 $ 23,733 $ 18,378 +$5,355 Earnings per common share - diluted * $ 1.23 $ 3.30 -$2.07 $ 4.87 $ 4.22 +$0.65 (Dollars in millions) FY 24 FY 23 Change Cash flow from operations $ 19,962 $ 18,085 +$1,877 Adjusted EBITDA $ 31,897 $ 23,213 +$8,684 Free cash flow $ 19,414 $ 17,633 +$1,781 Net revenue by segment (Dollars in millions) FY 24 FY 23 Change Semiconductor solutions $ 30,096 58 % $ 28,182 79 % +7 % Infrastructure software 21,478 42 7,637 21 +181 % Total net revenue $ 51,574 100 % $ 35,819 100 % * On July 12, 2024, the Company completed a ten-for-one forward stock split. All per share amounts presented reflect the stock split. First Quarter Fiscal Year 2025 Business Outlook Based on current business trends and conditions, the outlook for the first quarter of fiscal year 2025, ending February 2, 2025, is expected to be as follows: • First quarter revenue guidance of approximately $14.6 billion; and • First quarter Adjusted EBITDA guidance of approximately 66 percent of projected revenue. The guidance provided above is only an estimate of what the Company believes is realizable as of the date of this release. The Company is not readily able to provide a reconciliation of projected Adjusted EBITDA to projected net income without unreasonable effort. Actual results will vary from the guidance and the variations may be material. The Company undertakes no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law. Quarterly Dividends The Company’s Board of Directors has approved a quarterly cash dividend of $0.59 per share. The dividend is payable on December 31, 2024 to stockholders of record at the close of business (5:00 p.m. Eastern Time) on December 23, 2024. Financial Results Conference Call Broadcom Inc. will host a conference call to review its financial results for the fourth quarter and fiscal year 2024 and to discuss the business outlook today at 2:00 p.m. Pacific Time. To Listen via Internet: The conference call can be accessed live online in the Investors section of the Broadcom website at https://investors.broadcom.com/. 3 Replay: An audio replay of the conference call can be accessed for one year through the Investors section of Broadcom’s website at https://investors.broadcom.com/. Non-GAAP Financial Measures The non-GAAP measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP financial data is included in the supplemental financial data attached to this press release. Broadcom believes non-GAAP financial information provides additional insight into the Company’s on-going performance. Therefore, Broadcom provides this information to investors for a more consistent basis of comparison and to help them evaluate the results of the Company’s on-going operations and enable more meaningful period to period comparisons. In addition to GAAP reporting, Broadcom provides investors with net income, operating income, gross margin, operating expenses, cash flow and other data on a non-GAAP basis. This non-GAAP information excludes amortization of acquisition-related intangible assets, stock-based compensation expense, restructuring and other charges, acquisition-related costs, including integration costs, non-GAAP tax reconciling adjustments, and other adjustments. Management does not believe that these items are reflective of the Company’s underlying performance. Internally, these non-GAAP measures are significant measures used by management for purposes of evaluating the core operating performance of the Company, establishing internal budgets, calculating return on investment for development programs and growth initiatives, comparing performance with internal forecasts and targeted business models, strategic planning, evaluating and valuing potential acquisition candidates and how their operations compare to the Company’s operations, and benchmarking performance externally against the Company’s competitors. The exclusion of these and other similar items from Broadcom’s non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent or unusual. Free cash flow measures have limitations as they omit certain components of the overall cash flow statement and do not represent the residual cash flow available for discretionary expenditures. Investors should not consider presentation of free cash flow measures as implying that stockholders have any right to such cash. Broadcom’s free cash flow may not be calculated in a manner comparable to similarly named measures used by other companies. About Broadcom Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops, and supplies a broad range of semiconductor, enterprise software and security solutions. Broadcom’s category-leading product portfolio serves critical markets including cloud, data center, networking, broadband, wireless, storage, industrial, and enterprise software. Our solutions include service provider and enterprise networking and storage, mobile device and broadband connectivity, mainframe, cybersecurity, and private and hybrid cloud infrastructure. Broadcom is a Delaware corporation headquartered in Palo Alto, CA. For more information, go to www.broadcom.com. Cautionary Note Regarding Forward-Looking Statements This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States 4 Securities Act of 1933, as amended) concerning Broadcom. These statements include, but are not limited to, statements that address our expected future business and financial performance, and other statements identified by words such as “will,” “expect,” “believe,” “anticipate,” “estimate,” “should,” “intend,” “plan,” “potential,” “predict,” “project,” “aim,” and similar words, phrases or expressions. These forward-looking statements are based on current expectations and beliefs of Broadcom’s management, current information available to Broadcom’s management, and current market trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, undue reliance should not be placed on such statements. Particular uncertainties that could materially affect future results include risks associated with: global economic conditions and concerns; government regulations and administrative proceedings, trade restrictions and trade tensions; global political and economic conditions; our acquisition of VMware, Inc., including our ability to realize the expected benefits; any acquisitions or dispositions we may make, such as delays, challenges and expenses associated with receiving governmental and regulatory approvals and satisfying other closing conditions, and with integrating acquired businesses with our existing businesses and our ability to achieve the benefits, growth prospects and synergies expected by such acquisitions; dependence on and risks associated with distributors and resellers of our products; dependence on senior management and our ability to attract and retain qualified personnel; our ability to protect against cyber security threats and a breach of security systems; any loss of our significant customers and fluctuations in the timing and volume of significant customer demand; cyclicality in the semiconductor industry or in our target markets; our dependence on contract manufacturing and outsourced supply chain; our dependency on a limited number of suppliers; prolonged disruptions of our or our contract manufacturers’ manufacturing facilities, warehouses or other significant operations; our ability to accurately estimate customers’ demand and adjust our manufacturing and supply chain accordingly; our ability to continue achieving design wins with our customers, as well as the timing of any design wins; our ability to improve our manufacturing efficiency and quality; involvement in legal proceedings; ability of our software products to manage and secure IT infrastructures and environments; demand for our data center virtualization products and market acceptance of our products and services; compatibility of our software products with operating environments, platforms or third-party products; our ability to enter into satisfactory software license agreements; availability of third-party software used in our products; use of open source software in our products; sales to government customers; our ability to manage products and services lifecycles; quarterly and annual fluctuations in operating results; our competitive performance; our ability to maintain or improve gross margin; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; any expenses or reputational damage associated with resolving customer product warranty and indemnification claims, or other undetected defects or bugs; our ability to sell to new types of customers and to keep pace with technological advances; our compliance with privacy and data security laws; our provision for income taxes and overall cash tax costs; our ability to maintain tax concessions in certain jurisdictions; potential tax liabilities as a result of acquiring VMware; our significant indebtedness and the need to generate sufficient cash flows to service and repay such debt; and other events and trends on a national, regional, industry-specific and global scale, including those of a political, economic, business, competitive and regulatory nature. Our filings with the SEC, which are available without charge at the SEC’s website at https://www.sec.gov, discuss some of the important risk factors that may affect our business, results of operations and financial condition. Actual results may vary from the estimates provided. We undertake no intent or obligation to publicly update or revise any of the estimates and other forward-looking 5 statements made in this announcement, whether as a result of new information, future events or otherwise, except as required by law. Contact: Ji Yoo Broadcom Inc. Investor Relations 650-427-6000 investor.relations@broadcom.com (AVGO-Q) 6 BROADCOM INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS — UNAUDITED (IN MILLIONS, EXCEPT PER SHARE DATA) Fiscal Quarter Ended Fiscal Year Ended November 3, 2024 August 4, 2024 October 29, 2023 November 3, 2024 October 29, 2023 Net revenue $ 14,054 $ 13,072 $ 9,295 $ 51,574 $ 35,819 Cost of revenue: Cost of revenue 3,399 3,133 2,449 12,788 9,272 Amortization of acquisition-related intangible assets 1,602 1,525 438 6,023 1,853 Restructuring charges 51 58 1 254 4 Total cost of revenue 5,052 4,716 2,888 19,065 11,129 Gross margin 9,002 8,356 6,407 32,509 24,690 Research and development 2,234 2,353 1,388 9,310 5,253 Selling, general and administrative 1,010 1,100 418 4,959 1,592 Amortization of acquisition-related intangible assets 813 812 348 3,244 1,394 Restructuring and other charges 318 303 13 1,533 244 Total operating expenses 4,375 4,568 2,167 19,046 8,483 Operating income 4,627 3,788 4,240 13,463 16,207 Interest expense (916) (1,064) (405) (3,953) (1,622) Other income, net 52 82 132 406 512 Income from continuing operations before income taxes 3,763 2,806 3,967 9,916 15,097 Provision for (benefit from) income taxes (442) 4,238 443 3,748 1,015 Income (loss) from continuing operations 4,205 (1,432) 3,524 6,168 14,082 Income (loss) from discontinued operations, net of income taxes 119 (443) — (273) — Net income (loss) $ 4,324 $ (1,875) $ 3,524 $ 5,895 $ 14,082 Basic income (loss) per share (1) : Income (loss) per share from continuing operations $ 0.89 $ (0.31) $ 0.85 $ 1.33 $ 3.39 Income (loss) per share from discontinued operations 0.03 (0.09) — (0.06) — Net income (loss) per share $ 0.92 $ (0.40) $ 0.85 $ 1.27 $ 3.39 Diluted income (loss) per share (1) : Income (loss) per share from continuing operations $ 0.87 $ (0.31) $ 0.83 $ 1.29 $ 3.30 Income (loss) per share from discontinued operations 0.03 (0.09) — (0.06) — Net income (loss) per share $ 0.90 $ (0.40) $ 0.83 $ 1.23 $ 3.30 Weighted-average shares used in per share calculations (1) : Basic 4,679 4,663 4,133 4,624 4,149 Diluted 4,828 4,663 4,268 4,778 4,272 Stock-based compensation expense included in continuing operations: Cost of revenue $ 159 $ 174 $ 62 $ 664 $ 210 Research and development 839 877 448 3,460 1,513 Selling, general and administrative 316 330 128 1,546 448 Total stock-based compensation expense $ 1,314 $ 1,381 $ 638 $ 5,670 $ 2,171 (1) Reflects a ten-for-one forward stock split on July 12, 2024. BROADCOM INC. FINANCIAL RECONCILIATION: GAAP TO NON-GAAP — UNAUDITED (IN MILLIONS) Fiscal Quarter Ended Fiscal Year Ended November 3, 2024 August 4, 2024 October 29, 2023 November 3, 2024 October 29, 2023 Gross margin on GAAP basis $ 9,002 $ 8,356 $ 6,407 $ 32,509 $ 24,690 Amortization of acquisition-related intangible assets 1,602 1,525 438 6,023 1,853 Stock-based compensation expense 159 174 62 664 210 Restructuring charges 51 58 1 254 4 Acquisition-related costs — — — 9 — Gross margin on non-GAAP basis $ 10,814 $ 10,113 $ 6,908 $ 39,459 $ 26,757 Research and development on GAAP basis $ 2,234 $ 2,353 $ 1,388 $ 9,310 $ 5,253 Stock-based compensation expense 839 877 448 3,460 1,513 Acquisition-related costs — 2 — 3 — Research and development on non-GAAP basis $ 1,395 $ 1,474 $ 940 $ 5,847 $ 3,740 Selling, general and administrative expense on GAAP basis $ 1,010 $ 1,100 $ 418 $ 4,959 $ 1,592 Stock-based compensation expense 316 330 128 1,546 448 Acquisition-related costs 86 79 69 537 252 Selling, general and administrative expense on non-GAAP basis $ 608 $ 691 $ 221 $ 2,876 $ 892 Total operating expenses on GAAP basis $ 4,375 $ 4,568 $ 2,167 $ 19,046 $ 8,483 Amortization of acquisition-related intangible assets 813 812 348 3,244 1,394 Stock-based compensation expense 1,155 1,207 576 5,006 1,961 Restructuring and other charges 318 303 13 1,533 244 Acquisition-related costs 86 81 69 540 252 Total operating expenses on non-GAAP basis $ 2,003 $ 2,165 $ 1,161 $ 8,723 $ 4,632 Operating income on GAAP basis $ 4,627 $ 3,788 $ 4,240 $ 13,463 $ 16,207 Amortization of acquisition-related intangible assets 2,415 2,337 786 9,267 3,247 Stock-based compensation expense 1,314 1,381 638 5,670 2,171 Restructuring and other charges 369 361 14 1,787 248 Acquisition-related costs 86 81 69 549 252 Operating income on non-GAAP basis $ 8,811 $ 7,948 $ 5,747 $ 30,736 $ 22,125 Interest expense on GAAP basis $ (916) $ (1,064) $ (405) $ (3,953) $ (1,622) Loss on debt extinguishment 52 83 — 157 — Interest expense on non-GAAP basis $ (864) $ (981) $ (405) $ (3,796) $ (1,622) Other income, net on GAAP basis $ 52 $ 82 $ 132 $ 406 $ 512 (Gains) losses on investments 30 6 24 12 (11) Other — — (1) — (1) Other income, net on non-GAAP basis $ 82 $ 88 $ 155 $ 418 $ 500 Fiscal Quarter Ended Fiscal Year Ended November 3, 2024 August 4, 2024 October 29, 2023 November 3, 2024 October 29, 2023 Provision for (benefit from) income taxes on GAAP basis $ (442) $ 4,238 $ 443 $ 3,748 $ 1,015 Non-GAAP tax reconciling adjustments (1) 1,506 (3,303) 244 (123) 1,610 Provision for income taxes on non-GAAP basis $ 1,064 $ 935 $ 687 $ 3,625 $ 2,625 Net income (loss) on GAAP basis $ 4,324 $ (1,875) $ 3,524 $ 5,895 $ 14,082 Amortization of acquisition-related intangible assets 2,415 2,337 786 9,267 3,247 Stock-based compensation expense 1,314 1,381 638 5,670 2,171 Restructuring and other charges 369 361 14 1,787 248 Acquisition-related costs 86 81 69 549 252 Loss on debt extinguishment 52 83 — 157 — (Gains) losses on investments 30 6 24 12 (11) Other — — (1) — (1) Non-GAAP tax reconciling adjustments (1) (1,506) 3,303 (244) 123 (1,610) (Income) loss from discontinued operations, net of income taxes (119) 443 — 273 — Net income on non-GAAP basis $ 6,965 $ 6,120 $ 4,810 $ 23,733 $ 18,378 Net income (loss) on GAAP basis $ 4,324 $ (1,875) $ 3,524 $ 5,895 $ 14,082 Non-GAAP Adjustments: Amortization of acquisition-related intangible assets 2,415 2,337 786 9,267 3,247 Stock-based compensation expense 1,314 1,381 638 5,670 2,171 Restructuring and other charges 369 361 14 1,787 248 Acquisition-related costs 86 81 69 549 252 Loss on debt extinguishment 52 83 — 157 — (Gains) losses on investments 30 6 24 12 (11) Other — — (1) — (1) Non-GAAP tax reconciling adjustments (1) (1,506) 3,303 (244) 123 (1,610) (Income) loss from discontinued operations, net of income taxes (119) 443 — 273 — Other Adjustments: Interest expense 864 981 405 3,796 1,622 Provision for income taxes on non-GAAP basis 1,064 935 687 3,625 2,625 Depreciation 156 149 124 593 502 Amortization of purchased intangibles and right-of-use assets 40 38 22 150 86 Adjusted EBITDA $ 9,089 $ 8,223 $ 6,048 $ 31,897 $ 23,213 Weighted-average shares used in per share calculations - diluted on GAAP basis (2) 4,828 4,663 4,268 4,778 4,272 Non-GAAP adjustment (3) 77 254 82 99 81 Weighted-average shares used in per share calculations - diluted on non-GAAP basis 4,905 4,917 4,350 4,877 4,353 Net cash provided by operating activities $ 5,604 $ 4,963 $ 4,828 $ 19,962 $ 18,085 Purchases of property, plant and equipment (122) (172) (105) (548) (452) Free cash flow $ 5,482 $ 4,791 $ 4,723 $ 19,414 $ 17,633 Fiscal Quarter Ending February 2, Expected average diluted share count: 2025 Weighted-average shares used in per share calculation - diluted on GAAP basis (2) 4,828 Non-GAAP adjustment (3) 68 Weighted-average shares used in per share calculation - diluted on non-GAAP basis 4,896 (1) Non-GAAP tax reconciling adjustments included a one-time discrete non-cash tax provision of $4.5 billion from the impact of an intra-group transfer of certain IP rights to the United States as a result of supply chain realignment for the fiscal quarter ended August 4, 2024 and the fiscal year ended November 3, 2024. (2) Reflects a ten-for-one forward stock split on July 12, 2024. (3) Non-GAAP adjustment for the number of shares used in the diluted per share calculations excludes the impact of stock-based compensation expense expected to be incurred in future periods and not yet recognized in the financial statements, which would otherwise be assumed to be used to repurchase shares under the GAAP treasury stock method. For the fiscal quarter ended August 4, 2024, non-GAAP adjustment included the dilutive effect of the equity awards that were antidilutive on a GAAP basis. BROADCOM INC. CONDENSED CONSOLIDATED BALANCE SHEETS — UNAUDITED (IN MILLIONS) November 3, 2024 October 29, 2023 ASSETS Current assets: Cash and cash equivalents $ 9,348 $ 14,189 Trade accounts receivable, net 4,416 3,154 Inventory 1,760 1,898 Other current assets 4,071 1,606 Total current assets 19,595 20,847 Long-term assets: Property, plant and equipment, net 2,521 2,154 Goodwill 97,873 43,653 Intangible assets, net 40,583 3,867 Other long-term assets 5,073 2,340 Total assets $ 165,645 $ 72,861 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 1,662 $ 1,210 Employee compensation and benefits 1,971 935 Current portion of long-term debt 1,271 1,608 Other current liabilities 11,793 3,652 Total current liabilities 16,697 7,405 Long-term liabilities: Long-term debt 66,295 37,621 Other long-term liabilities 14,975 3,847 Total liabilities 97,967 48,873 Stockholders’ equity: Preferred stock — — Common Stock 5 4 Additional paid-in capital 67,466 21,095 Retained earnings — 2,682 Accumulated other comprehensive income 207 207 Total stockholders' equity 67,678 23,988 Total liabilities and equity $ 165,645 $ 72,861 BROADCOM INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS — UNAUDITED (IN MILLIONS) Fiscal Quarter Ended Fiscal Year Ended November 3, 2024 August 4, 2024 October 29, 2023 November 3, 2024 October 29, 2023 Cash flows from operating activities: Net income (loss) $ 4,324 $ (1,875) $ 3,524 $ 5,895 $ 14,082 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Amortization of intangible and right-of-use assets 2,455 2,375 808 9,417 3,333 Depreciation 156 149 124 593 502 Stock-based compensation 1,314 1,388 638 5,741 2,171 Deferred taxes and other non-cash taxes (868) 3,638 639 1,965 (501) Loss on debt extinguishment 52 83 — 157 — Non-cash interest expense 91 115 34 427 132 Other 138 158 27 404 9 Changes in assets and liabilities, net of acquisitions and disposals: Trade accounts receivable, net 249 835 (231) 2,327 (187) Inventory 134 (52) (56) 150 27 Accounts payable (85) 373 215 121 209 Employee compensation and benefits 196 291 103 78 (279) Other current assets and current liabilities (1,410) (1,345) (694) (5,323) (628) Other long-term assets and long-term liabilities (1,142) (1,170) (303) (1,990) (785) Net cash provided by operating activities 5,604 4,963 4,828 19,962 18,085 Cash flows from investing activities: Acquisitions of businesses, net of cash acquired — (2) (36) (25,978) (53) Proceeds from sale of business — 3,485 — 3,485 — Purchases of property, plant and equipment (122) (172) (105) (548) (452) Purchases of investments (30) (73) (58) (175) (346) Sales of investments 20 5 154 156 228 Other — 2 (79) (10) (66) Net cash provided by (used in) investing activities (132) 3,245 (124) (23,070) (689) Cash flows from financing activities: Proceeds from long-term borrowings 4,969 4,975 — 39,954 — Payments on debt obligations (7,472) (9,202) (143) (19,608) (403) Payments of dividends (2,484) (2,452) (1,904) (9,814) (7,645) Repurchases of common stock - repurchase program — — (123) (7,176) (5,824) Shares repurchased for tax withholdings on vesting of equity awards (1,204) (1,350) (454) (5,216) (1,861) Issuance of common stock 126 — 59 190 122 Other (11) (36) (5) (63) (12) Net cash used in financing activities (6,076) (8,065) (2,570) (1,733) (15,623) Net change in cash and cash equivalents (604) 143 2,134 (4,841) 1,773 Cash and cash equivalents at beginning of period 9,952 9,809 12,055 14,189 12,416 Cash and cash equivalents at end of period $ 9,348 $ 9,952 $ 14,189 $ 9,348 $ 14,189 Supplemental disclosure of cash flow information: Cash paid for interest $ 738 $ 816 $ 397 $ 3,250 $ 1,503 Cash paid for income taxes $ 832 $ 585 $ 191 $ 3,155 $ 1,782

the item shown at left

other guidance in this release

Text is the filed exhibit, verbatim.