| NVIDIA CORPORATION | |||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||||||
| (In millions) | |||||||||||||||||
| (Unaudited) | |||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||
| July 31, | August 1, | July 31, | August 1, | ||||||||||||||
|
2022
|
2021
|
2022
|
2021
| ||||||||||||||
| Cash flows from operating activities: | |||||||||||||||||
| Net income | $ | 656 | $ | 2,374 | $ | 2,274 | $ | 4,285 | |||||||||
| Adjustments to reconcile net income to net cash | |||||||||||||||||
| provided by operating activities: | |||||||||||||||||
| Stock-based compensation expense | 648 | 465 | 1,226 | 894 | |||||||||||||
| Depreciation and amortization | 378 | 286 | 712 | 567 | |||||||||||||
| Losses (gains) on investments in non affiliates, net | 7 | 1 | 24 | (133 | ) | ||||||||||||
| Deferred income taxes | (443 | ) | (185 | ) | (985 | ) | (161 | ) | |||||||||
| Acquisition termination cost | - | - | 1,353 | - | |||||||||||||
| Other | (5 | ) | 18 | 18 | 16 | ||||||||||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||||||||||||
| Accounts receivable | 120 | (563 | ) | (668 | ) | (1,157 | ) | ||||||||||
| Inventories | (725 | ) | (123 | ) | (1,285 | ) | (282 | ) | |||||||||
| Prepaid expenses and other assets | (293 | ) | 16 | (1,554 | ) | 18 | |||||||||||
| Accounts payable | 304 | 209 | 559 | 245 | |||||||||||||
| Accrued and other current liabilities | 633 | 133 | 1,267 | 166 | |||||||||||||
| Other long-term liabilities | (10 | ) | 51 | 60 | 98 | ||||||||||||
| Net cash provided by operating activities | 1,270 | 2,682 | 3,001 | 4,556 | |||||||||||||
| Cash flows from investing activities: | |||||||||||||||||
| Proceeds from maturities of marketable securities | 5,036 | 2,096 | 10,983 | 5,236 | |||||||||||||
| Proceeds from sales of marketable securities | 702 | 347 | 1,731 | 705 | |||||||||||||
| Purchases of marketable securities | (3,644 | ) | (4,798 | ) | (7,576 | ) | (9,268 | ) | |||||||||
| Purchases related to property and equipment and intangible assets | (433 | ) | (183 | ) | (794 | ) | (481 | ) | |||||||||
| Acquisitions, net of cash acquired | (13 | ) | - | (49 | ) | - | |||||||||||
| Investments and other, net | (30 | ) | 5 | (65 | ) | 3 | |||||||||||
| Net cash provided by (used in) investing activities | 1,618 | (2,533 | ) | 4,230 | (3,805 | ) | |||||||||||
| Cash flows from financing activities: | |||||||||||||||||
| Proceeds related to employee stock plans | 1 | 2 | 205 | 128 | |||||||||||||
| Payments related to repurchases of common stock | (3,345 | ) | - | (5,341 | ) | - | |||||||||||
| Payments related to tax on restricted stock units | (305 | ) | (365 | ) | (837 | ) | (843 | ) | |||||||||
| Dividends paid | (100 | ) | (100 | ) | (200 | ) | (198 | ) | |||||||||
| Principal payments on property and equipment and intangible assets | (14 | ) | (21 | ) | (36 | ) | (40 | ) | |||||||||
| Issuance of debt, net of issuance costs | - | 4,985 | - | 4,985 | |||||||||||||
| Other | 1 | - | 1 | (2 | ) | ||||||||||||
| Net cash provided by (used in) financing activities | (3,762 | ) | 4,501 | (6,208 | ) | 4,030 | |||||||||||
| Change in cash and cash equivalents | (874 | ) | 4,650 | 1,023 | 4,781 | ||||||||||||
| Cash and cash equivalents at beginning of period | 3,887 | 978 | 1,990 | 847 | |||||||||||||
| Cash and cash equivalents at end of period | $ | 3,013 | $ | 5,628 | $ | 3,013 | $ | 5,628 | |||||||||
NVIDIA Announces Financial Results for Second Quarter Fiscal 2023
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