| NVIDIA CORPORATION | |||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||
| (In millions) | |||||||||
| (Unaudited) | |||||||||
| Three Months Ended | |||||||||
| May 2, | April 26, | ||||||||
| 2021 | 2020 | ||||||||
| Cash flows from operating activities: | |||||||||
| Net income | $ | 1,912 | $ | 917 | |||||
| Adjustments to reconcile net income to net cash | |||||||||
| provided by operating activities: | |||||||||
| Stock-based compensation expense | 429 | 224 | |||||||
| Depreciation and amortization | 281 | 107 | |||||||
| Deferred income taxes | 24 | 16 | |||||||
| (Gains) losses on investments in non affiliates, net | (133 | ) | 3 | ||||||
| Other | (3 | ) | 1 | ||||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||||
| Accounts receivable | (595 | ) | (249 | ) | |||||
| Inventories | (159 | ) | (151 | ) | |||||
| Prepaid expenses and other assets | 2 | (8 | ) | ||||||
| Accounts payable | 70 | 71 | |||||||
| Accrued and other current liabilities | (1 | ) | (32 | ) | |||||
| Other long-term liabilities | 47 | 10 | |||||||
| Net cash provided by operating activities | 1,874 | 909 | |||||||
| Cash flows from investing activities: | |||||||||
| Proceeds from maturities of marketable securities | 3,140 | - | |||||||
| Proceeds from sales of marketable securities | 358 | 1 | |||||||
| Purchases of marketable securities | (4,470 | ) | (861 | ) | |||||
| Purchases related to property and equipment and intangible assets | (298 | ) | (155 | ) | |||||
| Investments and other, net | (2 | ) | (6 | ) | |||||
| Acquisitions, net of cash acquired | - | (34 | ) | ||||||
| Net cash used in investing activities | (1,272 | ) | (1,055 | ) | |||||
| Cash flows from financing activities: | |||||||||
| Proceeds related to employee stock plans | 126 | 88 | |||||||
| Payments related to tax on restricted stock units | (477 | ) | (222 | ) | |||||
| Dividends paid | (99 | ) | (98 | ) | |||||
| Principal payments on property and equipment | (19 | ) | - | ||||||
| Other | (2 | ) | (3 | ) | |||||
| Issuance of debt, net of issuance costs | - | 4,979 | |||||||
| Net cash provided by (used in) financing activities | (471 | ) | 4,744 | ||||||
| Change in cash and cash equivalents | 131 | 4,598 | |||||||
| Cash and cash equivalents at beginning of period | 847 | 10,896 | |||||||
| Cash and cash equivalents at end of period | $ | 978 | $ | 15,494 | |||||
NVIDIA Announces Financial Results for First Quarter Fiscal 2022
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