Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Broadcom Inc., consolidated income statement

US$ in millions

12 months ended:	Oct 29, 2023	Oct 30, 2022	Oct 31, 2021	Nov 1, 2020	Nov 3, 2019	Nov 4, 2018
Products	27,891)	26,277)	20,886)	17,435)	18,117)	19,754)
Subscriptions and services	7,928)	6,926)	6,564)	6,453)	4,480)	1,094)
Net revenue	35,819)	33,203)	27,450)	23,888)	22,597)	20,848)
Cost of products sold	(8,636)	(7,629)	(6,555)	(5,892)	(6,208)	(6,924)
Cost of subscriptions and services	(636)	(627)	(607)	(626)	(515)	(97)
Purchase accounting effect on inventory	—)	—)	—)	—)	—)	(70)
Amortization of acquisition-related intangible assets	(1,853)	(2,847)	(3,427)	(3,819)	(3,314)	(3,004)
Restructuring charges	(4)	(5)	(17)	(35)	(77)	(20)
Cost of revenue	(11,129)	(11,108)	(10,606)	(10,372)	(10,114)	(10,115)
Gross margin	24,690)	22,095)	16,844)	13,516)	12,483)	10,733)
Research and development	(5,253)	(4,919)	(4,854)	(4,968)	(4,696)	(3,768)
Selling, general and administrative	(1,592)	(1,382)	(1,347)	(1,935)	(1,709)	(1,056)
Amortization of acquisition-related intangible assets	(1,394)	(1,512)	(1,976)	(2,401)	(1,898)	(541)
Restructuring and other charges	(244)	(57)	(148)	(198)	(736)	(219)
Litigation settlements	—)	—)	—)	—)	—)	(14)
Operating expenses	(8,483)	(7,870)	(8,325)	(9,502)	(9,039)	(5,598)
Operating income	16,207)	14,225)	8,519)	4,014)	3,444)	5,135)
Interest expense	(1,622)	(1,737)	(1,885)	(1,777)	(1,444)	(628)
Impairment on investment	—)	—)	—)	—)	—)	(106)
Interest income	535)	100)	16)	53)	98)	114)
Other income	15)	30)	26)	56)	18)	27)
Gain (loss) on investments	11)	(169)	99)	31)	145)	3)
Other expense	(49)	(15)	(10)	(50)	(35)	—)
Gain from lapse of indemnification	—)	—)	—)	116)	—)	—)
Other income (expense), net	512)	(54)	131)	206)	226)	144)
Income from continuing operations before income taxes	15,097)	12,434)	6,765)	2,443)	2,226)	4,545)
(Provision for) benefit from income taxes	(1,015)	(939)	(29)	518)	510)	8,084)
Income from continuing operations	14,082)	11,495)	6,736)	2,961)	2,736)	12,629)
Loss from discontinued operations, net of income taxes	—)	—)	—)	(1)	(12)	(19)
Net income	14,082)	11,495)	6,736)	2,960)	2,724)	12,610)
Net income attributable to noncontrolling interest	—)	—)	—)	—)	—)	(351)
Net income attributable to Broadcom Inc. stockholders	14,082)	11,495)	6,736)	2,960)	2,724)	12,259)
Dividends on preferred stock	—)	(272)	(299)	(297)	(29)	—)
Net income attributable to common stock	14,082)	11,223)	6,437)	2,663)	2,695)	12,259)

Based on: 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 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).

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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 2021 to 2022 and from 2022 to 2023.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Broadcom Inc. operating income increased from 2021 to 2022 and from 2022 to 2023.
Income 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 from continuing operations before income taxes increased from 2021 to 2022 and from 2022 to 2023.
Net income 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 attributable to Broadcom Inc. stockholders increased from 2021 to 2022 and from 2022 to 2023.

Broadcom Inc. (NASDAQ:AVGO)

Income Statement