| NVIDIA CORPORATION | |||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||||||
| (In millions) | |||||||||||||||||
| (Unaudited) | |||||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||||
| January 31, | January 26, | January 31, | January 26, | ||||||||||||||
| 2021 | 2020 | 2021 | 2020 | ||||||||||||||
| Cash flows from operating activities: | |||||||||||||||||
| Net income | $ | 1,457 | $ | 950 | $ | 4,332 | $ | 2,796 | |||||||||
| Adjustments to reconcile net income to net cash | |||||||||||||||||
| provided by operating activities: | |||||||||||||||||
| Depreciation and amortization | 287 | 106 | 1,098 | 381 | |||||||||||||
| Stock-based compensation expense | 417 | 220 | 1,397 | 844 | |||||||||||||
| Deferred income taxes | (164 | ) | 23 | (282 | ) | 18 | |||||||||||
| Other | (17 | ) | - | (20 | ) | 5 | |||||||||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||||||||||||
| Accounts receivable | 117 | (202 | ) | (550 | ) | (233 | ) | ||||||||||
| Inventories | (334 | ) | 66 | (524 | ) | 597 | |||||||||||
| Prepaid expenses and other assets | 15 | 22 | (394 | ) | 77 | ||||||||||||
| Accounts payable | 75 | 104 | 363 | 194 | |||||||||||||
| Accrued and other current liabilities | 126 | 157 | 239 | 54 | |||||||||||||
| Other long-term liabilities | 88 | 19 | 163 | 28 | |||||||||||||
| Net cash provided by operating activities | 2,067 | 1,465 | 5,822 | 4,761 | |||||||||||||
| Cash flows from investing activities: | |||||||||||||||||
| Proceeds from maturities of marketable securities | 3,627 | - | 8,792 | 4,744 | |||||||||||||
| Proceeds from sales of marketable securities | 25 | 2 | 527 | 3,365 | |||||||||||||
| Purchases of marketable securities | (6,468 | ) | - | (19,308 | ) | (1,461 | ) | ||||||||||
| Acquisitions, net of cash acquired | - | - | (8,524 | ) | (4 | ) | |||||||||||
| Purchases related to property and equipment and intangible assets | (283 | ) | (144 | ) | (1,128 | ) | (489 | ) | |||||||||
| Investments and other, net | (30 | ) | (9 | ) | (34 | ) | (10 | ) | |||||||||
| Net cash provided by (used in) investing activities | (3,129 | ) | (151 | ) | (19,675 | ) | 6,145 | ||||||||||
| Cash flows from financing activities: | |||||||||||||||||
| Proceeds related to employee stock plans | 4 | 2 | 194 | 149 | |||||||||||||
| Payments related to tax on restricted stock units | (225 | ) | (87 | ) | (942 | ) | (551 | ) | |||||||||
| Dividends paid | (99 | ) | (98 | ) | (395 | ) | (390 | ) | |||||||||
| Issuance of debt, net of issuance costs | (3 | ) | - | 4,968 | - | ||||||||||||
| Principal payments on property and equipment | (17 | ) | - | (17 | ) | - | |||||||||||
| Other | (2 | ) | - | (4 | ) | - | |||||||||||
| Net cash provided by (used in) financing activities | (342 | ) | (183 | ) | 3,804 | (792 | ) | ||||||||||
| Change in cash and cash equivalents | (1,404 | ) | 1,131 | (10,049 | ) | 10,114 | |||||||||||
| Cash and cash equivalents at beginning of period | 2,251 | 9,765 | 10,896 | 782 | |||||||||||||
| Cash and cash equivalents at end of period | $ | 847 | $ | 10,896 | $ | 847 | $ | 10,896 | |||||||||
NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2021
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