| NVIDIA CORPORATION | |||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||||||
| (In millions) | |||||||||||||||||
| (Unaudited) | |||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||
| October 30, | October 31, | October 30, | October 31, | ||||||||||||||
| 2022 | 2021 | 2022 | 2021 | ||||||||||||||
| Cash flows from operating activities: | |||||||||||||||||
| Net income | $ | 680 | $ | 2,464 | $ | 2,954 | $ | 6,749 | |||||||||
| Adjustments to reconcile net income to net cash | |||||||||||||||||
| provided by operating activities: | |||||||||||||||||
| Stock-based compensation expense | 745 | 559 | 1,971 | 1,453 | |||||||||||||
| Depreciation and amortization | 406 | 298 | 1,118 | 865 | |||||||||||||
| Losses (gains) on investments in non affiliates, net | 11 | (21 | ) | 35 | (152 | ) | |||||||||||
| Deferred income taxes | (532 | ) | (20 | ) | (1,517 | ) | (182 | ) | |||||||||
| Acquisition termination cost | - | - | 1,353 | - | |||||||||||||
| Other | (45 | ) | 10 | (27 | ) | 25 | |||||||||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||||||||||||
| Accounts receivable | 410 | (366 | ) | (258 | ) | (1,523 | ) | ||||||||||
| Inventories | (563 | ) | (118 | ) | (1,848 | ) | (400 | ) | |||||||||
| Prepaid expenses and other assets | 247 | (1,575 | ) | (1,307 | ) | (1,557 | ) | ||||||||||
| Accounts payable | (917 | ) | 141 | (358 | ) | 385 | |||||||||||
| Accrued and other current liabilities | (92 | ) | (8 | ) | 1,175 | 159 | |||||||||||
| Other long-term liabilities | 42 | 155 | 102 | 253 | |||||||||||||
| Net cash provided by operating activities | 392 | 1,519 | 3,393 | 6,075 | |||||||||||||
| Cash flows from investing activities: | |||||||||||||||||
| Proceeds from maturities of marketable securities | 5,809 | 2,545 | 16,792 | 7,780 | |||||||||||||
| Proceeds from sales of marketable securities | 75 | 211 | 1,806 | 916 | |||||||||||||
| Purchases of marketable securities | (2,188 | ) | (6,752 | ) | (9,764 | ) | (16,020 | ) | |||||||||
| Purchases related to property and equipment and intangible assets | (530 | ) | (221 | ) | (1,324 | ) | (703 | ) | |||||||||
| Acquisitions, net of cash acquired | - | (203 | ) | (49 | ) | (203 | ) | ||||||||||
| Investments and other, net | (18 | ) | (18 | ) | (83 | ) | (14 | ) | |||||||||
| Net cash provided by (used in) investing activities | 3,148 | (4,438 | ) | 7,378 | (8,244 | ) | |||||||||||
| Cash flows from financing activities: | |||||||||||||||||
| Proceeds related to employee stock plans | 143 | 149 | 349 | 277 | |||||||||||||
| Payments related to repurchases of common stock | (3,485 | ) | - | (8,826 | ) | - | |||||||||||
| Payments related to tax on restricted stock units | (294 | ) | (440 | ) | (1,131 | ) | (1,282 | ) | |||||||||
| Dividends paid | (100 | ) | (100 | ) | (300 | ) | (298 | ) | |||||||||
| Principal payments on property and equipment and intangible assets | (18 | ) | (22 | ) | (54 | ) | (62 | ) | |||||||||
| Issuance of debt, net of issuance costs | - | (8 | ) | - | 4,977 | ||||||||||||
| Repayment of debt | - | (1,000 | ) | - | (1,000 | ) | |||||||||||
| Other | 1 | - | 1 | (2 | ) | ||||||||||||
| Net cash provided by (used in) financing activities | (3,753 | ) | (1,421 | ) | (9,961 | ) | 2,610 | ||||||||||
| Change in cash and cash equivalents | (213 | ) | (4,340 | ) | 810 | 441 | |||||||||||
| Cash and cash equivalents at beginning of period | 3,013 | 5,628 | 1,990 | 847 | |||||||||||||
| Cash and cash equivalents at end of period | $ | 2,800 | $ | 1,288 | $ | 2,800 | $ | 1,288 | |||||||||
NVIDIA Announces Financial Results for Third Quarter Fiscal 2023
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