| NVIDIA CORPORATION | |||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||
| (In millions) | |||||||||
| (Unaudited) | |||||||||
| Three Months Ended | |||||||||
| April 26, | April 28, | ||||||||
| 2020 | 2019 | ||||||||
| Cash flows from operating activities: | |||||||||
| Net income | $ | 917 | $ | 394 | |||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
| Stock-based compensation expense | 224 | 178 | |||||||
| Depreciation and amortization | 107 | 91 | |||||||
| Deferred income taxes | 16 | (42 | ) | ||||||
| Other | 4 | (2 | ) | ||||||
| Changes in operating assets and liabilities: | |||||||||
| Accounts receivable | (249 | ) | 182 | ||||||
| Inventories | (151 | ) | 153 | ||||||
| Prepaid expenses and other assets | (8 | ) | 5 | ||||||
| Accounts payable | 71 | (123 | ) | ||||||
| Accrued and other current liabilities | (32 | ) | (129 | ) | |||||
| Other long-term liabilities | 10 | 13 | |||||||
| Net cash provided by operating activities | 909 | 720 | |||||||
| Cash flows from investing activities: | |||||||||
| Proceeds from sales of marketable securities | 1 | 26 | |||||||
| Proceeds from maturities of marketable securities | - | 2,219 | |||||||
| Purchases of marketable securities | (861 | ) | (622 | ) | |||||
| Purchases of property and equipment and intangible assets | (155 | ) | (128 | ) | |||||
| Acquisition of business, net of cash acquired | (34 | ) | - | ||||||
| Investments and other, net | (6 | ) | - | ||||||
| Net cash provided by (used in) investing activities | (1,055 | ) | 1,495 | ||||||
| Cash flows from financing activities: | |||||||||
| Issuance of debt, net of issuance costs | 4,979 | - | |||||||
| Proceeds related to employee stock plans | 88 | 83 | |||||||
| Payments related to tax on restricted stock units | (222 | ) | (211 | ) | |||||
| Dividends paid | (98 | ) | (97 | ) | |||||
| Other | (3 | ) | - | ||||||
| Net cash provided by (used in) financing activities | 4,744 | (225 | ) | ||||||
| Change in cash and cash equivalents | 4,598 | 1,990 | |||||||
| Cash and cash equivalents at beginning of period | 10,896 | 782 | |||||||
| Cash and cash equivalents at end of period | $ | 15,494 | $ | 2,772 | |||||
NVIDIA Announces Financial Results for First Quarter Fiscal 2021
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