| NVIDIA CORPORATION | ||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||||||
| (In millions) | ||||||||||||||||
| (Unaudited) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| July 26, | July 28, | July 26, | July 28, | |||||||||||||
| 2020 | 2019 | 2020 | 2019 | |||||||||||||
| Cash flows from operating activities: | ||||||||||||||||
| Net income | $ | 622 | $ | 552 | $ | 1,539 | $ | 947 | ||||||||
| Adjustments to reconcile net income to net cash | ||||||||||||||||
| provided by operating activities: | ||||||||||||||||
| Depreciation and amortization | 404 | 92 | 511 | 183 | ||||||||||||
| Stock-based compensation expense | 374 | 223 | 598 | 401 | ||||||||||||
| Deferred income taxes | (80 | ) | 15 | (64 | ) | (27 | ) | |||||||||
| Other | (8 | ) | 4 | (5 | ) | 1 | ||||||||||
| Changes in operating assets and liabilities, net of acquisitions: | ||||||||||||||||
| Accounts receivable | 44 | (319 | ) | (205 | ) | (137 | ) | |||||||||
| Inventories | 54 | 225 | (97 | ) | 378 | |||||||||||
| Prepaid expenses and other assets | 42 | 31 | 34 | 36 | ||||||||||||
| Accounts payable | (8 | ) | 78 | 63 | (45 | ) | ||||||||||
| Accrued and other current liabilities | 112 | 49 | 81 | (79 | ) | |||||||||||
| Other long-term liabilities | 10 | (14 | ) | 21 | (2 | ) | ||||||||||
| Net cash provided by operating activities | 1,566 | 936 | 2,476 | 1,656 | ||||||||||||
| Cash flows from investing activities: | ||||||||||||||||
| Proceeds from maturities of marketable securities | 1,032 | 1,372 | 1,032 | 3,592 | ||||||||||||
| Proceeds from sales of marketable securities | 258 | 3,126 | 259 | 3,152 | ||||||||||||
| Purchases of marketable securities | (7,425 | ) | (840 | ) | (8,286 | ) | (1,461 | ) | ||||||||
| Acquisition of businesses, net of cash acquired | (7,137 | ) | - | (7,171 | ) | - | ||||||||||
| Purchases of property and equipment and intangible assets | (217 | ) | (113 | ) | (372 | ) | (241 | ) | ||||||||
| Investments and other, net | - | (2 | ) | (7 | ) | (2 | ) | |||||||||
| Net cash provided by (used in) investing activities | (13,489 | ) | 3,543 | (14,545 | ) | 5,040 | ||||||||||
| Cash flows from financing activities: | ||||||||||||||||
| Proceeds related to employee stock plans | 6 | 1 | 94 | 83 | ||||||||||||
| Payments related to tax on restricted stock units | (196 | ) | (50 | ) | (418 | ) | (261 | ) | ||||||||
| Dividends paid | (99 | ) | (97 | ) | (197 | ) | (195 | ) | ||||||||
| Issuance of debt, net of issuance costs | (8 | ) | - | 4,971 | - | |||||||||||
| Other | - | - | (3 | ) | - | |||||||||||
| Net cash provided by (used in) financing activities | (297 | ) | (146 | ) | 4,447 | (373 | ) | |||||||||
| Change in cash and cash equivalents | (12,220 | ) | 4,333 | (7,622 | ) | 6,323 | ||||||||||
| Cash and cash equivalents at beginning of period | 15,494 | 2,772 | 10,896 | 782 | ||||||||||||
| Cash and cash equivalents at end of period | $ | 3,274 | $ | 7,105 | $ | 3,274 | $ | 7,105 | ||||||||
NVIDIA Announces Financial Results for Second Quarter Fiscal 2021
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