| NVIDIA CORPORATION | ||||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||||||||
| (In millions) | ||||||||||||||||||
| (Unaudited) | ||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||
| October 31, | October 25, | October 31, | October 25, | |||||||||||||||
| 2021 | 2020 | 2021 | 2020 | |||||||||||||||
| Cash flows from operating activities: | ||||||||||||||||||
| Net income | $ | 2,464 | $ | 1,336 | $ | 6,749 | $ | 2,875 | ||||||||||
| Adjustments to reconcile net income to net cash | ||||||||||||||||||
| provided by operating activities: | ||||||||||||||||||
| Stock-based compensation expense | 559 | 383 | 1,453 | 981 | ||||||||||||||
| Depreciation and amortization | 298 | 299 | 865 | 810 | ||||||||||||||
| Deferred income taxes | (21 | ) | (53 | ) | (182 | ) | (117 | ) | ||||||||||
| (Gains) losses on investments in non affiliates, net | (20 | ) | - | (152 | ) | - | ||||||||||||
| Other | 10 | 2 | 25 | (2 | ) | |||||||||||||
| Changes in operating assets and liabilities, net of acquisitions: | ||||||||||||||||||
| Accounts receivable | (366 | ) | (463 | ) | (1,523 | ) | (667 | ) | ||||||||||
| Inventories | (118 | ) | (93 | ) | (400 | ) | (190 | ) | ||||||||||
| Prepaid expenses and other assets | (1,575 | ) | (443 | ) | (1,557 | ) | (409 | ) | ||||||||||
| Accounts payable | 195 | 225 | 474 | 289 | ||||||||||||||
| Accrued and other current liabilities | (62 | ) | 31 | 70 | 111 | |||||||||||||
| Other long-term liabilities | 155 | 55 | 253 | 74 | ||||||||||||||
| Net cash provided by operating activities | 1,519 | 1,279 | 6,075 | 3,755 | ||||||||||||||
| Cash flows from investing activities: | ||||||||||||||||||
| Proceeds from maturities of marketable securities | 2,545 | 4,133 | 7,780 | 5,165 | ||||||||||||||
| Proceeds from sales of marketable securities | 211 | 243 | 916 | 502 | ||||||||||||||
| Purchases of marketable securities | (6,752 | ) | (4,554 | ) | (16,020 | ) | (12,840 | ) | ||||||||||
| Purchases related to property and equipment and intangible assets | (221 | ) | (473 | ) | (703 | ) | (845 | ) | ||||||||||
| Acquisitions, net of cash acquired | (203 | ) | (1,353 | ) | (203 | ) | (8,524 | ) | ||||||||||
| Investments and other, net | (18 | ) | 3 | (14 | ) | (4 | ) | |||||||||||
| Net cash used in investing activities | (4,438 | ) | (2,001 | ) | (8,244 | ) | (16,546 | ) | ||||||||||
| Cash flows from financing activities: | ||||||||||||||||||
| Issuance of debt, net of issuance costs | (8 | ) | - | 4,977 | 4,971 | |||||||||||||
| Proceeds related to employee stock plans | 149 | 96 | 277 | 190 | ||||||||||||||
| Repayment of debt | (1,000 | ) | - | (1,000 | ) | - | ||||||||||||
| Payments related to tax on restricted stock units | (440 | ) | (298 | ) | (1,282 | ) | (716 | ) | ||||||||||
| Dividends paid | (100 | ) | (99 | ) | (298 | ) | (296 | ) | ||||||||||
| Principal payments on property and equipment | (22 | ) | - | (62 | ) | - | ||||||||||||
| Other | - | - | (2 | ) | (3 | ) | ||||||||||||
| Net cash provided by (used in) financing activities | (1,421 | ) | (301 | ) | 2,610 | 4,146 | ||||||||||||
| Change in cash and cash equivalents | (4,340 | ) | (1,023 | ) | 441 | (8,645 | ) | |||||||||||
| Cash and cash equivalents at beginning of period | 5,628 | 3,274 | 847 | 10,896 | ||||||||||||||
| Cash and cash equivalents at end of period | $ | 1,288 | $ | 2,251 | $ | 1,288 | $ | 2,251 | ||||||||||
NVIDIA Announces Financial Results for Third Quarter Fiscal 2022
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