| NVIDIA CORPORATION | |||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||
| (In millions) | |||||||||
| (Unaudited) | |||||||||
| Three Months Ended | |||||||||
| May 1, | May 2, | ||||||||
| 2022 | 2021 | ||||||||
| Cash flows from operating activities: | |||||||||
| Net income | $ | 1,618 | $ | 1,912 | |||||
| Adjustments to reconcile net income to net cash | |||||||||
| provided by operating activities: | |||||||||
| Acquisition termination cost | 1,353 | - | |||||||
| Stock-based compensation expense | 578 | 429 | |||||||
| Depreciation and amortization | 334 | 281 | |||||||
| Losses (gains) on investments in non affiliates, net | 17 | (133 | ) | ||||||
| Deferred income taxes | (542 | ) | 24 | ||||||
| Other | 23 | (3 | ) | ||||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||||
| Accounts receivable | (788 | ) | (595 | ) | |||||
| Inventories | (560 | ) | (159 | ) | |||||
| Prepaid expenses and other assets | (1,261 | ) | 2 | ||||||
| Accounts payable | 255 | 36 | |||||||
| Accrued and other current liabilities | 634 | 33 | |||||||
| Other long-term liabilities | 70 | 47 | |||||||
| Net cash provided by operating activities | 1,731 | 1,874 | |||||||
| Cash flows from investing activities: | |||||||||
| Proceeds from maturities of marketable securities | 5,947 | 3,140 | |||||||
| Proceeds from sales of marketable securities | 1,029 | 358 | |||||||
| Purchases of marketable securities | (3,932 | ) | (4,470 | ) | |||||
| Purchases related to property and equipment and intangible assets | (361 | ) | (298 | ) | |||||
| Acquisitions, net of cash acquired | (36 | ) | - | ||||||
| Investments and other, net | (35 | ) | (2 | ) | |||||
| Net cash provided by (used in) investing activities | 2,612 | (1,272 | ) | ||||||
| Cash flows from financing activities: | |||||||||
| Proceeds related to employee stock plans | 204 | 126 | |||||||
| Payments related to repurchases of common stock | (1,996 | ) | - | ||||||
| Payments related to tax on restricted stock units | (532 | ) | (477 | ) | |||||
| Dividends paid | (100 | ) | (99 | ) | |||||
| Principal payments on property and equipment and intangible assets | (22 | ) | (19 | ) | |||||
| Other | - | (2 | ) | ||||||
| Net cash used in financing activities | (2,446 | ) | (471 | ) | |||||
| Change in cash and cash equivalents | 1,897 | 131 | |||||||
| Cash and cash equivalents at beginning of period | 1,990 | 847 | |||||||
| Cash and cash equivalents at end of period | $ | 3,887 | $ | 978 | |||||
NVIDIA Announces Financial Results for First Quarter Fiscal 2023
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