| NVIDIA CORPORATION | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||||
| (In millions) | |||||||||||||||
| (Unaudited) | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||
| October 25, | October 27, | October 25, | October 27, | ||||||||||||
| 2020 | 2019 | 2020 | 2019 | ||||||||||||
| Cash flows from operating activities: | |||||||||||||||
| Net income | $ | 1,336 | $ | 899 | $ | 2,875 | $ | 1,845 | |||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||
| Depreciation and amortization | 299 | 92 | 810 | 275 | |||||||||||
| Stock-based compensation expense | 383 | 223 | 981 | 624 | |||||||||||
| Deferred income taxes | (53 | ) | 22 | (117 | ) | (5 | ) | ||||||||
| Other | 2 | 3 | (2 | ) | 5 | ||||||||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||||||||||
| Accounts receivable | (463 | ) | 106 | (667 | ) | (32 | ) | ||||||||
| Inventories | (93 | ) | 152 | (190 | ) | 531 | |||||||||
| Prepaid expenses and other assets | (443 | ) | 19 | (409 | ) | 55 | |||||||||
| Accounts payable | 225 | 135 | 289 | 91 | |||||||||||
| Accrued and other current liabilities | 31 | (23 | ) | 111 | (103 | ) | |||||||||
| Other long-term liabilities | 55 | 12 | 74 | 10 | |||||||||||
| Net cash provided by operating activities | 1,279 | 1,640 | 3,755 | 3,296 | |||||||||||
| Cash flows from investing activities: | |||||||||||||||
| Proceeds from maturities of marketable securities | 4,133 | 1,153 | 5,165 | 4,744 | |||||||||||
| Proceeds from sales of marketable securities | 243 | 211 | 502 | 3,363 | |||||||||||
| Purchases of marketable securities | (4,554 | ) | - | (12,840 | ) | (1,461 | ) | ||||||||
| Acquisitions, net of cash acquired | (1,353 | ) | - | (8,524 | ) | - | |||||||||
| Purchases related to property and equipment and intangible assets | (473 | ) | (104 | ) | (845 | ) | (344 | ) | |||||||
| Investments and other, net | 3 | (3 | ) | (4 | ) | (6 | ) | ||||||||
| Net cash provided by (used in) investing activities | (2,001 | ) | 1,257 | (16,546 | ) | 6,296 | |||||||||
| Cash flows from financing activities: | |||||||||||||||
| Proceeds related to employee stock plans | 96 | 63 | 190 | 146 | |||||||||||
| Payments related to tax on restricted stock units | (298 | ) | (203 | ) | (716 | ) | (463 | ) | |||||||
| Dividends paid | (99 | ) | (97 | ) | (296 | ) | (292 | ) | |||||||
| Issuance of debt, net of issuance costs | - | - | 4,971 | - | |||||||||||
| Other | - | - | (3 | ) | - | ||||||||||
| Net cash provided by (used in) financing activities | (301 | ) | (237 | ) | 4,146 | (609 | ) | ||||||||
| Change in cash and cash equivalents | (1,023 | ) | 2,660 | (8,645 | ) | 8,983 | |||||||||
| Cash and cash equivalents at beginning of period | 3,274 | 7,105 | 10,896 | 782 | |||||||||||
| Cash and cash equivalents at end of period | $ | 2,251 | $ | 9,765 | $ | 2,251 | $ | 9,765 | |||||||
NVIDIA Announces Financial Results for Third Quarter Fiscal 2021
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