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Business Combinations and Asset Acquisitions (Tables) | 6 Months Ended
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May 05, 2024
VMware Acquisition |
Business Acquisition [Line Items] |
Schedule of Business Acquisitions, by Acquisition | Purchase Consideration
|  | (In millions)
Fair value of Broadcom common stock issued for outstanding VMware common stock |  | $ | 53,398 |
Cash paid for outstanding VMware common stock |  | 30,788 |
Cash paid by Broadcom to retire VMware’s term loan |  | 1,257 |
Fair value of partially vested assumed VMware equity awards |  | 805 |
Fair value of Broadcom common stock issued for accelerated VMware equity awards |  | 23 |
Cash paid for accelerated VMware equity awards |  | 13 |
Effective settlement of pre-existing relationships |  | 6 |
Total purchase consideration |  | 86,290 |
Less: cash acquired |  | 6,642 |
Total purchase consideration, net of cash acquired |  | $ | 79,648 |
Schedule of Assets Acquired and Liabilities Assumed | The following table presents our preliminary allocation of the total purchase price, net of cash acquired, updated as of May 5, 2024:
|  | Estimated Fair Value
|  | (In millions)
Trade accounts receivable |  | $ | 3,571 |
Inventory |  | 15
Assets held-for-sale |  | 5,206 |
Other current assets |  | 757 |
Property, plant and equipment |  | 531 |
Goodwill |  | 54,206 |
Intangible assets |  | 45,572 |
Other long-term assets |  | 1,064 |
Total assets acquired |  | 110,922 |
Accounts payable |  | (359) |
Employee compensation and benefits |  | (848) |
Current portion of long-term debt |  | (1,264) |
Liabilities held-for-sale |  | (1,901) |
Other current liabilities |  | (11,041) |
Long-term debt |  | (6,254) |
Other long-term liabilities |  | (9,607) |
Total liabilities assumed |  | (31,274) |
Fair value of net assets acquired |  | $ | 79,648 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | Intangible Assets
|  | Fair Value |  | Weighted-Average Amortization Periods
|  | (In millions) |  | (In years)
Developed technology |  | $ | 24,156 |  |  | 8
Customer contracts and related relationships |  | 15,239 |  |  | 8
Trade name |  | 1,205 |  |  | 14
Off-market component of customer contracts |  | 242 |  |  | 2
Total identified finite-lived intangible assets |  | 40,842 |  |  |
In-process research and development |  | 4,730 |  |  | N/A
Total identified intangible assets |  | $ | 45,572 |  |  |
Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | The following table presents the details of IPR&D by category as of the date of the VMware Merger:
Description |  | IPR&D |  | Percentage of Completion |  | Estimated Cost to Complete |  | Expected Release Date (By Fiscal Year)
|  | (Dollars in millions)
VMware cloud foundation July 2024 releases |  | $ | 790 |  |  | 67 | % |  | $ | 38 |  |  | 2024
VMware cloud foundation March 2025 releases |  | $ | 2,900 |  |  | 58 | % |  | $ | 185 |  |  | 2025
VMware cloud foundation July 2025 releases |  | $ | 750 |  |  | 43 | % |  | $ | 65 |  |  | 2025
VMware cloud foundation networking and security virtualization |  | $ | 265 |  |  | 21 | % |  | $ | 59 |  |  | 2024
Application networking and security |  | $ | 25 |  |  | 21 | % |  | $ | 47 |  |  | 2024
Schedule of Pro Forma Information |
|  | Fiscal Quarter Ended |  | Two Fiscal Quarters Ended
|  | May 5, 2024 |  | April 30, 2023 |  | May 5, 2024 |  | April 30, 2023
|  | (In millions)
Pro forma net revenue |  | $ | 12,507 |  |  | $ | 11,665 |  |  | $ | 25,030 |  |  | $ | 23,889 |
Pro forma net income |  | $ | 2,261 |  |  | $ | 1,796 |  |  | $ | 3,876 |  |  | $ | 3,849 |
Seagate's SoC Business Acquisition |
Business Acquisition [Line Items] |
Schedule of Assets Acquired and Liabilities Assumed |
|  | Estimated Fair Value
|  | (In millions)
Intangible assets |  | $ | 570 |
Goodwill |  | 14 |
Other assets |  | 16 |
Total assets acquired |  | $ | 600 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | Intangible Assets
|  | Fair Value |  | Weighted-Average Amortization Periods
|  | (In millions) |  | (In years)
Customer contracts and related relationships |  | $ | 410 |  |  | 11
Developed technology |  | 90 |  |  | 11
Total identified finite-lived intangible assets |  | 500 |  |  |
In-process research and development |  | 70 |  |  | N/A
Total identified intangible assets |  | $ | 570 |  |  |

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