博通 2025年度报告

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Actof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subjectto such filing requirements for the past 90 days. Yes☑No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files).Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule 12b-2 of the Exchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firmthat prepared or issued its audit report.☑ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrantincluded in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).Yes☐No☑ As of November 28, 2025, there were 4,741,273,799 shares of our common stock outstanding. Documents Incorporated by ReferencePortions of the registrant’s definitive proxy statement for its 2026 annual meeting of stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated. The registrant’s definitive proxy statement will be filed with the U.S. Securities and ExchangeCommission within 120 days after the end of the fiscal year to which this report relates. BROADCOM INC.2025 ANNUAL REPORT ON FORM 10-K TABLE OF CONTENTS PART I.BUSINESS........................................................................................................................................... ITEM 1.3ITEM 1A.RISK FACTORS...................................................................................................................................12ITEM 1B.UNRESOLVED STAFF COMMENTS.....................................................................................................28ITEM 1C.CYBERSECURITY................................................................................................................................28ITEM 2.PROPERTIES......................................................................................................................................29ITEM 3.LEGAL PROCEEDINGS........................................................................................................................29ITEM 4.MINE SAFETY DISCLOSURES..............................................................................................................30 PART II. ITEM 5.MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUERPURCHASES OF EQUITY SECURITIES.................................................................................................31ITEM 6.[RESERVED].......................................................................................................................................32ITEM 7.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS.....................................................................................................................................33ITEM 7A.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.........................................44ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA...................................................................45ITEM 9.CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIALDISCLOSURE......................................................................................................................................89ITEM 9A.CONTROLS AND PROCEDURES..........................................................................................................89ITEM 9B.OTHER INFORMATION......................................................................................................................90ITEM 9C.DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPEC