Item 8.01 Other Events. As previously disclosed in the Quarterly Report on Form 10-Q ofBroadcom Inc. ("Broadcom" or the "Company") for the quarter endedFebruary 2, 2020 (as filed with theSecurities and Exchange Commission (the "SEC") onMarch 13, 2020 ), effectiveNovember 4, 2019 , the Company realigned its organizational structure and the composition of its reportable segments. The Company is filing this Current Report on Form 8-K to update operating results for all periods covered in its Annual Report on Form 10-K for the year endedNovember 3, 2019 (the "2019 Form 10-K") (as filed with theSEC onDecember 20, 2019 ), in order to give effect to the change in reportable segments. Specific information subject to update is as follows: • Consent of Independent Registered Public Accounting Firm, attached as
Exhibit 23.1 to this report and incorporated herein by reference; and
• Part I, Item 1: Business, Part II, Item 7: Management's Discussion and
Analysis of Financial Condition and Results of Operations, and Part II, Item 8: Financial Statements and Supplemental Data, included in Exhibit 99.1 to this report and incorporated herein by reference.
This Current Report on Form 8-K does not reflect events occurring after
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 23.1 Consent of Independent Registered Public Accounting Firm 99.1 Part I, Item 1: Business, Part II, Item 7: Management's Discussion and Analysis of Financial Condition and Results of Operations, and Part II, Item 8: Financial Statements and Supplemental Data 104 Cover Page Interactive Data File (formatted as Inline XBRL).
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Cautionary Note Regarding Forward-Looking Statements
This report 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
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 the
management of Broadcom, as well as assumptions made by, and information
currently available to, such management, current market trends and market
conditions and involve risks and uncertainties, many of which are outside the
Company's and management's control, and which may cause actual results to differ
materially from those contained in forward-looking statements. Accordingly, you
should not place undue reliance on such statements.
Particular uncertainties that could materially affect future results include
risks associated with: the COVID-19 pandemic, which has, and will likely
continue to, negatively impact the global economy and disrupt normal business
activity, and which may have an adverse effect on our results of 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; our dependency on a limited number of suppliers; global
economic conditions and concerns; international political and economic
conditions; any acquisitions 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, including our recent
acquisition of Symantec Corporation's Enterprise Security business; government
regulations and trade restrictions; our significant indebtedness and the need to
generate sufficient cash flows to service and repay such debt; 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;
involvement in legal or administrative proceedings; quarterly and annual
fluctuations in operating results; our ability to accurately estimate customers'
demand and adjust our manufacturing and supply chain accordingly; cyclicality in
the semiconductor industry or in our target markets; our competitive performance
and ability to continue achieving design wins with our customers, as well as the
timing of any design wins; prolonged disruptions of our or our contract
manufacturers' manufacturing facilities, warehouses or other significant
operations; our ability to improve our manufacturing efficiency and quality; our
dependence on outsourced service providers for certain key business services and
their ability to execute to our requirements; our ability to maintain or improve
gross margin; our ability to protect our intellectual property and the
unpredictability of any associated litigation expenses; compatibility of our
software products with operating environments, platforms or third-party
products; our ability to enter into satisfactory software license agreements;
sales to our government clients; availability of third party software used in
our products; use of open source code sources in our products; any expenses or
reputational damage associated with resolving customer product warranty and
indemnification claims; market acceptance of the end products into which our
products are designed; 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 ability to protect against a breach of security systems; changes in
accounting standards; fluctuations in foreign exchange rates; our provision for
income taxes and overall cash tax costs, legislation that may impact our overall
cash tax costs and our ability to maintain tax concessions in certain
jurisdictions; and other events and trends on a national, regional and global
scale, including those of a political, economic, business, competitive and
regulatory nature. Many of the foregoing risks and uncertainties are, and will
be, exacerbated by the outbreak of COVID-19 and any worsening of the global
business and economic environment as a result.
Our filings with the
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