Exhibit 99.1 Broadcom Inc. Announces Fourth Quarter and Fiscal Year 2025 Financial Results and Quarterly Dividend • Revenue of $18,015 million for the fourth quarter, up 28 percent from the prior year period • GAAP net income of $8,518 million for the fourth quarter; Non-GAAP net income of $9,714 million for the fourth quarter • Adjusted EBITDA of $12,218 million for the fourth quarter, or 68 percent of revenue • GAAP diluted EPS of $1.74 for the fourth quarter; Non-GAAP diluted EPS of $1.95 for the fourth quarter • Cash from operations of $7,703 million for the fourth quarter, less capital expenditures of $237 million, resulted in $7,466 million of free cash flow, or 41 percent of revenue • Quarterly common stock dividend increased by 10 percent from the prior quarter to $0.65 per share • First quarter fiscal year 2026 revenue guidance of approximately $19.1 billion, an increase of 28 percent from the prior year period • First quarter fiscal year 2026 Adjusted EBITDA guidance of 67 percent of projected revenue (1) PALO ALTO, Calif. – December 11, 2025 – 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 2, 2025, provided guidance for its first quarter of fiscal year 2026 and announced its quarterly dividend. “In Q4, record revenue of $18.0 billion grew 28% year-over-year, driven primarily by AI semiconductor revenue increasing 74% year-over-year,” said Hock Tan, President and CEO of Broadcom Inc. “We see the momentum continuing in Q1 and expect AI semiconductor revenue to double year-over-year to $8.2 billion, driven by custom AI accelerators and Ethernet AI switches. We forecast Q1’26 total revenue of $19.1 billion and adjusted EBITDA of 67%.” “In fiscal year 2025 adjusted EBITDA increased 35% year-over-year to a record $43.0 billion, and free cash flow was strong at $26.9 billion,” said Kirsten Spears, CFO of Broadcom Inc. “Based on increased cash flows in fiscal year 2025, we are increasing our quarterly common stock dividend by 10% to $0.65 per share for fiscal year 2026. The target fiscal year 2026 annual common stock dividend of $2.60 per share is a record, and the fifteenth 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 2025 Financial Highlights GAAP Non-GAAP (Dollars in millions, except per share data) Q4 25 Q4 24 Change Q4 25 Q4 24 Change Net revenue $ 18,015 $ 14,054 +28 % $ 18,015 $ 14,054 +28 % Net income $ 8,518 $ 4,324 +97 % $ 9,714 $ 6,965 +39 % Earnings per common share - diluted $ 1.74 $ 0.90 +93 % $ 1.95 $ 1.42 +37 % (Dollars in millions) Q4 25 Q4 24 Change Cash flow from operations $ 7,703 $ 5,604 +37 % Adjusted EBITDA $ 12,218 $ 9,089 +34 % Free cash flow $ 7,466 $ 5,482 +36 % Net revenue by segment (Dollars in millions) Q4 25 Q4 24 Change Semiconductor solutions $ 11,072 61 % $ 8,230 59 % +35 % Infrastructure software 6,943 39 5,824 41 +19 % Total net revenue $ 18,015 100 % $ 14,054 100 % The Company’s cash and cash equivalents at the end of the fiscal quarter were $16,178 million, compared to $10,718 million at the end of the prior fiscal quarter. During the fourth fiscal quarter, the Company generated $7,703 million in cash from operations and spent $237 million on capital expenditures, resulting in $7,466 million of free cash flow. On September 30, 2025, the Company paid a cash dividend of $0.59 per share, totaling $2,797 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. Fiscal Year 2025 Financial Highlights GAAP Non-GAAP (Dollars in millions, except per share data) FY 25 FY 24 Change FY 25 FY 24 Change Net revenue $ 63,887 $ 51,574 +24 % $ 63,887 $ 51,574 +24 % Net income $ 23,126 $ 5,895 +292 % $ 33,728 $ 23,733 +42 % Earnings per common share - diluted $ 4.77 $ 1.23 +288 % $ 6.82 $ 4.87 +40 % (Dollars in millions) FY 25 FY 24 Change Cash flow from operations $ 27,537 $ 19,962 +38 % Adjusted EBITDA $ 43,004 $ 31,897 +35 % Free cash flow $ 26,914 $ 19,414 +39 % Net revenue by segment (Dollars in millions) FY 25 FY 24 Change Semiconductor solutions $ 36,858 58 % $ 30,096 58 % +22 % Infrastructure software 27,029 42 21,478 42 +26 % Total net revenue $ 63,887 100 % $ 51,574 100 % 2 First Quarter Fiscal Year 2026 Business Outlook Based on current business trends and conditions, the outlook for the first quarter of fiscal year 2026, ending February 1, 2026, is expected to be as follows: • First quarter revenue guidance of approximately $19.1 billion; and • First quarter Adjusted EBITDA guidance of 67 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 $0.65 per share. The dividend is payable on December 31, 2025 to stockholders of record at the close of business (5:00 p.m. Eastern Time) on December 22, 2025. Financial Results Conference Call Broadcom Inc. will host a conference call to review its financial results for the fourth quarter and fiscal year 2025 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/. 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 3 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 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, our plans and expectations with regard to our share repurchases, 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 uncertainty; government regulations, trade restrictions and trade tensions; global political and economic conditions relating to our international operations; any loss of our significant customers and fluctuations in the timing and volume of significant customer demand; our dependence on contract manufacturing and outsourced supply chain; the slow or unsuccessful return on our investments, expansion of our business strategy or adoption of new business models; cyclicality in the semiconductor industry or in our target markets; dependence on senior management and our ability to attract and retain qualified personnel; our ability to protect against cybersecurity threats and a breach 4 of security systems; our ability to accurately estimate customers’ demand and adjust our manufacturing and supply chain accordingly; our dependency on a limited number of suppliers; prolonged disruptions of our, our customers’ or our suppliers’ facilities or other significant operations; our ability to maintain appropriate manufacturing capacity and quality; our ability to continue winning business in the semiconductor solutions industry; dependence on and risks associated with distributors and other channel partners of our products; ability of our software products to manage and secure IT infrastructures and environments; demand for our data center virtualization products and customer acceptance of our products, services and business strategy; compatibility of our software products with operating environments, platforms or third-party products; our ability to enter into satisfactory software license agreements; use of open source software in our products; sales to government customers; our ability to manage products and services lifecycles; our competitive performance; quarterly and annual fluctuations in operating results; our ability to maintain or improve gross margin; 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; involvement in legal proceedings; 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 compliance with privacy and data security laws; corporate responsibility matters; 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; the amount and frequency of our stock repurchase program; 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. 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. 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 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) 5 BROADCOM INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS — UNAUDITED (IN MILLIONS, EXCEPT PER SHARE DATA) Fiscal Quarter Ended Fiscal Year Ended November 2, 2025 August 3, 2025 November 3, 2024 November 2, 2025 November 3, 2024 Net revenue $ 18,015 $ 15,952 $ 14,054 $ 63,887 $ 51,574 Cost of revenue: Cost of revenue 4,213 3,704 3,399 14,486 12,788 Amortization of acquisition-related intangible assets 1,545 1,519 1,602 6,031 6,023 Restructuring charges 8 26 51 76 254 Total cost of revenue 5,766 5,249 5,052 20,593 19,065 Gross margin 12,249 10,703 9,002 43,294 32,509 Research and development 2,981 3,050 2,234 10,977 9,310 Selling, general and administrative 1,107 1,072 1,010 4,211 4,959 Amortization of acquisition-related intangible assets 507 507 813 2,031 3,244 Restructuring and other charges 146 187 318 591 1,533 Total operating expenses 4,741 4,816 4,375 17,810 19,046 Operating income 7,508 5,887 4,627 25,484 13,463 Interest expense (761) (807) (916) (3,210) (3,953) Other income, net 122 205 52 455 406 Income from continuing operations before income taxes 6,869 5,285 3,763 22,729 9,916 Provision for (benefit from) income taxes (1,649) 1,145 (442) (397) 3,748 Income from continuing operations 8,518 4,140 4,205 23,126 6,168 Income (loss) from discontinued operations, net of income taxes — — 119 — (273) Net income $ 8,518 $ 4,140 $ 4,324 $ 23,126 $ 5,895 Basic income per share: Income per share from continuing operations $ 1.80 $ 0.88 $ 0.89 $ 4.91 $ 1.33 Income (loss) per share from discontinued operations — — 0.03 — (0.06) Net income per share $ 1.80 $ 0.88 $ 0.92 $ 4.91 $ 1.27 Diluted income per share: Income per share from continuing operations $ 1.74 $ 0.85 $ 0.87 $ 4.77 $ 1.29 Income (loss) per share from discontinued operations — — 0.03 — (0.06) Net income per share $ 1.74 $ 0.85 $ 0.90 $ 4.77 $ 1.23 Weighted-average shares used in per share calculations: Basic 4,732 4,714 4,679 4,712 4,624 Diluted 4,889 4,860 4,828 4,853 4,778 Stock-based compensation expense included in continuing operations: Cost of revenue $ 237 $ 251 $ 159 $ 844 $ 664 Research and development 1,456 1,573 839 5,020 3,460 Selling, general and administrative 502 498 316 1,704 1,546 Total stock-based compensation expense $ 2,195 $ 2,322 $ 1,314 $ 7,568 $ 5,670 BROADCOM INC. FINANCIAL RECONCILIATION: GAAP TO NON-GAAP — UNAUDITED (IN MILLIONS) Fiscal Quarter Ended Fiscal Year Ended November 2, 2025 August 3, 2025 November 3, 2024 November 2, 2025 November 3, 2024 Gross margin on GAAP basis $ 12,249 $ 10,703 $ 9,002 $ 43,294 $ 32,509 Amortization of acquisition-related intangible assets 1,545 1,519 1,602 6,031 6,023 Stock-based compensation expense 237 251 159 844 664 Restructuring charges 8 26 51 76 254 Acquisition-related costs — — — — 9 Gross margin on non-GAAP basis $ 14,039 $ 12,499 $ 10,814 $ 50,245 $ 39,459 Research and development on GAAP basis $ 2,981 $ 3,050 $ 2,234 $ 10,977 $ 9,310 Stock-based compensation expense 1,456 1,573 839 5,020 3,460 Acquisition-related costs — — — — 3 Research and development on non-GAAP basis $ 1,525 $ 1,477 $ 1,395 $ 5,957 $ 5,847 Selling, general and administrative expense on GAAP basis $ 1,107 $ 1,072 $ 1,010 $ 4,211 $ 4,959 Stock-based compensation expense 502 498 316 1,704 1,546 Acquisition-related costs 12 7 86 216 537 Selling, general and administrative expense on non-GAAP basis $ 593 $ 567 $ 608 $ 2,291 $ 2,876 Total operating expenses on GAAP basis $ 4,741 $ 4,816 $ 4,375 $ 17,810 $ 19,046 Amortization of acquisition-related intangible assets 507 507 813 2,031 3,244 Stock-based compensation expense 1,958 2,071 1,155 6,724 5,006 Restructuring and other charges 146 187 318 591 1,533 Acquisition-related costs 12 7 86 216 540 Total operating expenses on non-GAAP basis $ 2,118 $ 2,044 $ 2,003 $ 8,248 $ 8,723 Operating income on GAAP basis $ 7,508 $ 5,887 $ 4,627 $ 25,484 $ 13,463 Amortization of acquisition-related intangible assets 2,052 2,026 2,415 8,062 9,267 Stock-based compensation expense 2,195 2,322 1,314 7,568 5,670 Restructuring and other charges 154 213 369 667 1,787 Acquisition-related costs 12 7 86 216 549 Operating income on non-GAAP basis $ 11,921 $ 10,455 $ 8,811 $ 41,997 $ 30,736 Interest expense on GAAP basis $ (761) $ (807) $ (916) $ (3,210) $ (3,953) Loss on debt extinguishment 20 53 52 138 157 Interest expense on non-GAAP basis $ (741) $ (754) $ (864) $ (3,072) $ (3,796) Other income, net on GAAP basis $ 122 $ 205 $ 52 $ 455 $ 406 (Gains) losses on investments (6) 10 30 17 12 Gain from sale of business — (163) — (163) — Other — 19 — (15) — Other income, net on non-GAAP basis $ 116 $ 71 $ 82 $ 294 $ 418 Fiscal Quarter Ended Fiscal Year Ended November 2, 2025 August 3, 2025 November 3, 2024 November 2, 2025 November 3, 2024 Provision for (benefit from) income taxes on GAAP basis $ (1,649) $ 1,145 $ (442) $ (397) $ 3,748 Non-GAAP tax reconciling adjustments (1) 3,231 223 1,506 5,888 (123) Provision for income taxes on non-GAAP basis $ 1,582 $ 1,368 $ 1,064 $ 5,491 $ 3,625 Net income on GAAP basis $ 8,518 $ 4,140 $ 4,324 $ 23,126 $ 5,895 Amortization of acquisition-related intangible assets 2,052 2,026 2,415 8,062 9,267 Stock-based compensation expense 2,195 2,322 1,314 7,568 5,670 Restructuring and other charges 154 213 369 667 1,787 Acquisition-related costs 12 7 86 216 549 Loss on debt extinguishment 20 53 52 138 157 (Gains) losses on investments (6) 10 30 17 12 Gain from sale of business — (163) — (163) — Other — 19 — (15) — Non-GAAP tax reconciling adjustments (1) (3,231) (223) (1,506) (5,888) 123 (Income) loss from discontinued operations, net of income taxes — — (119) — 273 Net income on non-GAAP basis $ 9,714 $ 8,404 $ 6,965 $ 33,728 $ 23,733 Net income on GAAP basis $ 8,518 $ 4,140 $ 4,324 $ 23,126 $ 5,895 Non-GAAP Adjustments: Amortization of acquisition-related intangible assets 2,052 2,026 2,415 8,062 9,267 Stock-based compensation expense 2,195 2,322 1,314 7,568 5,670 Restructuring and other charges 154 213 369 667 1,787 Acquisition-related costs 12 7 86 216 549 Loss on debt extinguishment 20 53 52 138 157 (Gains) losses on investments (6) 10 30 17 12 Gain from sale of business — (163) — (163) — Other — 19 — (15) — Non-GAAP tax reconciling adjustments (1) (3,231) (223) (1,506) (5,888) 123 (Income) loss from discontinued operations, net of income taxes — — (119) — 273 Other Adjustments: Interest expense 741 754 864 3,072 3,796 Provision for income taxes on non-GAAP basis 1,582 1,368 1,064 5,491 3,625 Depreciation 148 142 156 574 593 Amortization of purchased intangibles and right-of-use assets 33 34 40 139 150 Adjusted EBITDA $ 12,218 $ 10,702 $ 9,089 $ 43,004 $ 31,897 Weighted-average shares used in per share calculations - diluted on GAAP basis 4,889 4,860 4,828 4,853 4,778 Non-GAAP adjustment (2) 80 112 77 90 99 Weighted-average shares used in per share calculations - diluted on non-GAAP basis 4,969 4,972 4,905 4,943 4,877 Net cash provided by operating activities $ 7,703 $ 7,166 $ 5,604 $ 27,537 $ 19,962 Purchases of property, plant and equipment (237) (142) (122) (623) (548) Free cash flow $ 7,466 $ 7,024 $ 5,482 $ 26,914 $ 19,414 Fiscal Quarter Ending February 1, Expected average diluted share count (3) : 2026 Weighted-average shares used in per share calculation - diluted on GAAP basis 4,902 Non-GAAP adjustment (2) 67 Weighted-average shares used in per share calculation - diluted on non-GAAP basis 4,969 (1) For the fiscal quarter and fiscal year ended November 2, 2025, non-GAAP tax reconciling adjustments included a one-time discrete non-cash tax benefit of $2.1 billion from the impact of lapses of statutes of limitations. (2) 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. (3) Excludes the effects of potential share repurchases. BROADCOM INC. CONDENSED CONSOLIDATED BALANCE SHEETS — UNAUDITED (IN MILLIONS) November 2, 2025 November 3, 2024 ASSETS Current assets: Cash and cash equivalents $ 16,178 $ 9,348 Trade accounts receivable, net 7,145 4,416 Inventory 2,270 1,760 Other current assets 5,980 4,071 Total current assets 31,573 19,595 Long-term assets: Property, plant and equipment, net 2,530 2,521 Goodwill 97,801 97,873 Intangible assets, net 32,273 40,583 Other long-term assets 6,915 5,073 Total assets $ 171,092 $ 165,645 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 1,560 $ 1,662 Employee compensation and benefits 2,129 1,971 Short-term debt 3,152 1,271 Other current liabilities 11,673 11,793 Total current liabilities 18,514 16,697 Long-term liabilities: Long-term debt 61,984 66,295 Other long-term liabilities 9,302 14,975 Total liabilities 89,800 97,967 Stockholders’ equity: Preferred stock — — Common Stock 5 5 Additional paid-in capital 71,308 67,466 Retained earnings 9,761 — Accumulated other comprehensive income 218 207 Total stockholders' equity 81,292 67,678 Total liabilities and equity $ 171,092 $ 165,645 BROADCOM INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS — UNAUDITED (IN MILLIONS) Fiscal Quarter Ended Fiscal Year Ended November 2, 2025 August 3, 2025 November 3, 2024 November 2, 2025 November 3, 2024 Cash flows from operating activities: Net income $ 8,518 $ 4,140 $ 4,324 $ 23,126 $ 5,895 Adjustments to reconcile net income to net cash provided by operating activities: Amortization of intangible and right-of-use assets 2,085 2,060 2,455 8,201 9,417 Depreciation 148 142 156 574 593 Stock-based compensation 2,195 2,322 1,314 7,568 5,741 Deferred taxes and other non-cash taxes (3,025) 284 (868) (4,008) 1,965 Loss on debt extinguishment 20 53 52 138 157 Non-cash interest expense 71 82 91 344 427 Other 36 (23) 138 94 404 Changes in assets and liabilities, net of acquisitions and disposals: Trade accounts receivable, net (651) (937) 249 (2,717) 2,327 Inventory (90) (163) 134 (510) 150 Accounts payable 118 136 (85) (118) 121 Employee compensation and benefits 410 511 196 300 78 Other current assets and current liabilities (809) (999) (1,410) (1,837) (5,323) Other long-term assets and long-term liabilities (1,323) (442) (1,142) (3,618) (1,990) Net cash provided by operating activities 7,703 7,166 5,604 27,537 19,962 Cash flows from investing activities: Acquisitions of businesses, net of cash acquired — — — — (25,978) Proceeds from sales of businesses — 300 — 300 3,485 Purchases of property, plant and equipment (237) (142) (122) (623) (548) Purchases of investments (336) (99) (30) (597) (175) Sales of investments 101 51 20 248 156 Other 105 (16) — 92 (10) Net cash provided by (used in) investing activities (367) 94 (132) (580) (23,070) Cash flows from financing activities: Proceeds from long-term borrowings 4,971 6,960 4,969 15,666 39,954 Payments on debt obligations (3,638) (6,750) (7,472) (18,478) (19,608) Repayments of commercial paper, net (488) (3,373) — — — Payments of dividends (2,797) (2,786) (2,484) (11,142) (9,814) Repurchases of common stock - repurchase program — — — (2,450) (7,176) Shares repurchased for tax withholdings on vesting of equity awards — (58) (1,204) (3,860) (5,216) Issuance of common stock 103 — 126 221 190 Other (27) (7) (11) (84) (63) Net cash used in financing activities (1,876) (6,014) (6,076) (20,127) (1,733) Net change in cash and cash equivalents 5,460 1,246 (604) 6,830 (4,841) Cash and cash equivalents at beginning of period 10,718 9,472 9,952 9,348 14,189 Cash and cash equivalents at end of period $ 16,178 $ 10,718 $ 9,348 $ 16,178 $ 9,348 Supplemental disclosure of cash flow information: Cash paid for interest $ 699 $ 602 $ 738 $ 2,672 $ 3,250 Cash paid for income taxes $ 755 $ 822 $ 832 $ 2,589 $ 3,155

the item shown at left

other guidance in this release

Text is the filed exhibit, verbatim.