filings.toolsItem 6. SELECTED FINANCIAL DATA
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Item 6. SELECTED FINANCIAL DATA
The following table sets forth the selected consolidated financial data as of and for the last five fiscal years of Broadcom and should be read in conjunction with our annual consolidated financial statements and related notes and information included under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included elsewhere in this Annual Report on Form 10-K.
On November 4, 2019, we acquired the Symantec Business for total consideration of $10.7 billion. On November 5, 2018, we acquired CA for total consideration of $18.8 billion. On November 17, 2017, we acquired Brocade for total consideration of $6.0 billion. On February 1, 2016, we acquired BRCM for total consideration of $35.7 billion. Our financial statements included the results of operations of the acquired companies and estimated fair value of assets acquired and liabilities assumed commencing as of their respective acquisition dates.
| Fiscal Year Ended (1) | ||||||||||||||||||||||||||||||||
| November 1, 2020 | November 3, 2019 | November 4, 2018 | October 29, 2017 | October 30, 2016 | ||||||||||||||||||||||||||||
| (In millions, except per share data) | ||||||||||||||||||||||||||||||||
| Total net revenue (2) | $ | 23,888 | $ | 22,597 | $ | 20,848 | $ | 17,636 | $ | 13,240 | ||||||||||||||||||||||
| Income (loss) from continuing operations (3) (4) | $ | 2,961 | $ | 2,736 | $ | 12,629 | $ | 1,790 | $ | (1,749) | ||||||||||||||||||||||
| Income (loss) per common share from continuing operations - basic (3) (4) | $ | 6.62 | $ | 6.80 | $ | 29.37 | $ | 4.19 | $ | (4.46) | ||||||||||||||||||||||
| Income (loss) per common share from continuing operations - diluted (3) (4) | $ | 6.33 | $ | 6.46 | $ | 28.48 | $ | 4.03 | $ | (4.57) | ||||||||||||||||||||||
| Cash dividends declared and paid per common share | $ | 13.00 | $ | 10.60 | $ | 7.00 | $ | 4.08 | $ | 1.94 | ||||||||||||||||||||||
| Cash and cash equivalents | $ | 7,618 | $ | 5,055 | $ | 4,292 | $ | 11,204 | $ | 3,097 | ||||||||||||||||||||||
| Total assets | $ | 75,933 | $ | 67,493 | $ | 50,124 | $ | 54,418 | $ | 49,966 | ||||||||||||||||||||||
| Debt and finance lease obligations | $ | 41,062 | $ | 32,798 | $ | 17,493 | $ | 17,569 | $ | 13,642 |
(1)Our fiscal year ends on the Sunday closest to October 31 in a 52-week year and on the first Sunday in November in a 53-week year. Our fiscal year ended November 4, 2018 was a 53-week fiscal year. All other fiscal years presented included 52 weeks.
(2)During fiscal year 2019, we adopted ASU 2014-09, Revenue from Contracts with Customers (“Topic 606”). Periods prior to fiscal year 2019 were presented in accordance with Accounting Standards Codification 605, Revenue Recognition.
(3)In connection with our acquisitions of the Symantec Business and CA in fiscal years 2020 and 2019, amortization of acquisition-related intangible assets increased $1,008 million and $1,667 million, respectively. In connection with our acquisition of BRCM in the fiscal year ended October 30, 2016, our results included $1,185 million of purchase accounting effect on inventory.
(4)Our income from continuing operations and income per share from continuing operations in fiscal year 2018 were significantly impacted by the benefit from income taxes as a result of the enactment of the 2017 Tax Reform Act and our redomiciliation to the United States in fiscal year 2018.
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