NVIDIA Announces Financial Results for First Quarter Fiscal 2021


 
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  

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