NVIDIA Announces Financial Results for Second Quarter Fiscal 2022


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    

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