| 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 | ||||||||||
NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2022
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