NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2022


NVIDIA CORPORATION 
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS 
(In millions) 
(Unaudited) 
           
           
    Three Months Ended  Twelve Months Ended 
    January 30,   January 31,  January 30,   January 31, 
     2022    2021    2022    2021  
           
Cash flows from operating activities:        
Net income$3,003  $1,457  $9,752  $4,332  
Adjustments to reconcile net income to net cash                
provided by operating activities:                
  Stock-based compensation expense   551       417       2,004       1,397    
  Depreciation and amortization   309       287       1,174       1,098    
  Deferred income taxes   (225 )     (164 )     (406 )     (282 )  
  (Gains) losses on investments in non affiliates, net   53       (9 )     (100 )     -    
  Other   21       (8 )     47       (20 )  
Changes in operating assets and liabilities, net of acquisitions:                
  Accounts receivable   (692 )     117       (2,215 )     (550 )  
  Inventories   (374 )     (334 )     (774 )     (524 )  
  Prepaid expenses and other assets   (158 )     15       (1,715 )     (394 )  
  Accounts payable   183       23       568       312    
  Accrued and other current liabilities   423       178       581       290    
  Other long-term liabilities   (61 )     88       192       163    
Net cash provided by operating activities   3,033       2,067       9,108       5,822    
Cash flows from investing activities:                
  Proceeds from maturities of marketable securities   7,417       3,627       15,197       8,792    
  Proceeds from sales of marketable securities   107       25       1,023       527    
  Purchases of marketable securities   (8,767 )     (6,468 )     (24,787 )     (19,308 )  
  Purchases related to property and equipment and intangible assets     (273 )     (283 )     (976 )     (1,128 )  
  Acquisitions, net of cash acquired   (60 )     -       (263 )     (8,524 )  
  Investments and other, net   (11 )     (30 )     (24 )     (34 )  
Net cash used in investing activities   (1,587 )     (3,129 )     (9,830 )     (19,675 )  
Cash flows from financing activities:                
  Proceeds related to employee stock plans   4       4       281       194    
  Payments related to tax on restricted stock units   (622 )     (225 )     (1,904 )     (942 )  
  Dividends paid   (100 )     (99 )     (399 )     (395 )  
  Principal payments on property and equipment   (21 )     (17 )     (83 )     (17 )  
  Other   (5 )     (2 )     (7 )     (4 )  
  Issuance of debt, net of issuance costs   -       (3 )     4,977       4,968    
  Repayment of debt   -       -       (1,000 )     -    
Net cash provided by (used in) financing activities   (744 )     (342 )     1,865       3,804    
Change in cash and cash equivalents   702       (1,404 )     1,143       (10,049 )  
Cash and cash equivalents at beginning of period   1,288       2,251       847       10,896    
Cash and cash equivalents at end of period $ 1,990     $ 847     $ 1,990     $ 847    
                     

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