| NVIDIA CORPORATION | ||||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||||||||
| (In millions) | ||||||||||||||||||
| (Unaudited) | ||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||
| August 1, | July 26, | August 1, | July 26, | |||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||
| Cash flows from operating activities: | ||||||||||||||||||
| Net income | $ | 2,374 | $ | 622 | $ | 4,285 | $ | 1,539 | ||||||||||
| Adjustments to reconcile net income to net cash | ||||||||||||||||||
| provided by operating activities: | ||||||||||||||||||
| Stock-based compensation expense | 465 | 374 | 894 | 598 | ||||||||||||||
| Depreciation and amortization | 286 | 404 | 567 | 511 | ||||||||||||||
| Deferred income taxes | (185 | ) | (80 | ) | (161 | ) | (64 | ) | ||||||||||
| (Gains) losses on investments in non affiliates, net | 1 | 2 | (133 | ) | 5 | |||||||||||||
| Other | 18 | (10 | ) | 16 | (10 | ) | ||||||||||||
| Changes in operating assets and liabilities, net of acquisitions: | ||||||||||||||||||
| Accounts receivable | (563 | ) | 44 | (1,157 | ) | (205 | ) | |||||||||||
| Inventories | (123 | ) | 54 | (282 | ) | (97 | ) | |||||||||||
| Prepaid expenses and other assets | 16 | 42 | 18 | 34 | ||||||||||||||
| Accounts payable | 209 | (8 | ) | 279 | 63 | |||||||||||||
| Accrued and other current liabilities | 133 | 112 | 132 | 81 | ||||||||||||||
| Other long-term liabilities | 51 | 10 | 98 | 21 | ||||||||||||||
| Net cash provided by operating activities | 2,682 | 1,566 | 4,556 | 2,476 | ||||||||||||||
| Cash flows from investing activities: | ||||||||||||||||||
| Proceeds from maturities of marketable securities | 2,096 | 1,032 | 5,236 | 1,032 | ||||||||||||||
| Proceeds from sales of marketable securities | 347 | 258 | 705 | 259 | ||||||||||||||
| Purchases of marketable securities | (4,798 | ) | (7,425 | ) | (9,268 | ) | (8,286 | ) | ||||||||||
| Purchases related to property and equipment and intangible assets | (183 | ) | (217 | ) | (481 | ) | (372 | ) | ||||||||||
| Investments and other, net | 5 | - | 3 | (7 | ) | |||||||||||||
| Acquisitions, net of cash acquired | - | (7,137 | ) | - | (7,171 | ) | ||||||||||||
| Net cash used in investing activities | (2,533 | ) | (13,489 | ) | (3,805 | ) | (14,545 | ) | ||||||||||
| Cash flows from financing activities: | ||||||||||||||||||
| Issuance of debt, net of issuance costs | 4,985 | (8 | ) | 4,985 | 4,971 | |||||||||||||
| Proceeds related to employee stock plans | 2 | 6 | 128 | 94 | ||||||||||||||
| Payments related to tax on restricted stock units | (365 | ) | (196 | ) | (843 | ) | (418 | ) | ||||||||||
| Dividends paid | (100 | ) | (99 | ) | (198 | ) | (197 | ) | ||||||||||
| Principal payments on property and equipment | (21 | ) | - | (40 | ) | - | ||||||||||||
| Other | - | - | (2 | ) | (3 | ) | ||||||||||||
| Net cash provided by (used in) financing activities | 4,501 | (297 | ) | 4,030 | 4,447 | |||||||||||||
| Change in cash and cash equivalents | 4,650 | (12,220 | ) | 4,781 | (7,622 | ) | ||||||||||||
| Cash and cash equivalents at beginning of period | 978 | 15,494 | 847 | 10,896 | ||||||||||||||
| Cash and cash equivalents at end of period | $ | 5,628 | $ | 3,274 | $ | 5,628 | $ | 3,274 | ||||||||||
NVIDIA Announces Financial Results for Second Quarter Fiscal 2022
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