| NVIDIA CORPORATION | ||||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||||||||
| (In millions) | ||||||||||||||||||
| (Unaudited) | ||||||||||||||||||
| Three Months Ended | Twelve Months Ended | |||||||||||||||||
| January 29, | January 30, | January 29 | January 30, | |||||||||||||||
| 2023 | 2022 | 2023 | 2022 | |||||||||||||||
| Cash flows from operating activities: | ||||||||||||||||||
| Net income | $ | 1,414 | $ | 3,003 | $ | 4,368 | $ | 9,752 | ||||||||||
| Adjustments to reconcile net income to net cash | ||||||||||||||||||
| provided by operating activities: | ||||||||||||||||||
| Stock based compensation expense | 738 | 551 | 2,709 | $ | 2,004 | |||||||||||||
| Depreciation and amortization | 426 | 309 | 1,544 | 1,174 | ||||||||||||||
| (Gain) losses on investments in non affiliates, net | 10 | 53 | 45 | (100 | ) | |||||||||||||
| Deferred income taxes | (647 | ) | (225 | ) | (2,164 | ) | (406 | ) | ||||||||||
| Acquisition termination cost | - | - | 1,353 | - | ||||||||||||||
| Other | 20 | 21 | (7 | ) | 47 | |||||||||||||
| Changes in operating assets and liabilities, net of acquisitions: | ||||||||||||||||||
| Accounts receivable | 1,081 | (692 | ) | 822 | (2,215 | ) | ||||||||||||
| Inventories | (706 | ) | (374 | ) | (2,554 | ) | (774 | ) | ||||||||||
| Prepaid expenses and other assets | (210 | ) | (158 | ) | (1,517 | ) | (1,715 | ) | ||||||||||
| Accounts payable | (193 | ) | 183 | (551 | ) | 568 | ||||||||||||
| Accrued liabilities and other current liabilities | 166 | 423 | 1,341 | 581 | ||||||||||||||
| Other long-term liabilities | 150 | (61 | ) | 252 | 192 | |||||||||||||
| Net cash provided by operating activities | 2,249 | 3,033 | 5,641 | 9,108 | ||||||||||||||
| Cash flows from investing activities: | ||||||||||||||||||
| Proceeds from maturities of marketable securities | 2,633 | 7,417 | 19,425 | 15,197 | ||||||||||||||
| Proceeds from sales of marketable securities | - | 107 | 1,806 | 1,023 | ||||||||||||||
| Purchases of marketable securities | (2,133 | ) | (8,767 | ) | (11,897 | ) | (24,787 | ) | ||||||||||
| Purchase related to property and equipment and intangible assets | (509 | ) | (273 | ) | (1,833 | ) | (976 | ) | ||||||||||
| Acquisitions, net of cash acquired | - | (60 | ) | (49 | ) | (263 | ) | |||||||||||
| Investments and other, net | 5 | (11 | ) | (77 | ) | (24 | ) | |||||||||||
| Net cash provided by (used in) investing activities | (4 | ) | (1,587 | ) | 7,375 | (9,830 | ) | |||||||||||
| Cash flows from financing activities: | ||||||||||||||||||
| Proceeds related to employee stock plans | 5 | 4 | 355 | 281 | ||||||||||||||
| Payments related to repurchases of common stock | (1,212 | ) | - | (10,039 | ) | - | ||||||||||||
| Payments related to tax on restricted stock units | (344 | ) | (622 | ) | (1,475 | ) | (1,904 | ) | ||||||||||
| Dividends paid | (98 | ) | (100 | ) | (398 | ) | (399 | ) | ||||||||||
| Principal payments on property and equipment and intangible assets | (4 | ) | (21 | ) | (58 | ) | (83 | ) | ||||||||||
| Issuance of debt, net of issuance costs | - | - | - | 4,977 | ||||||||||||||
| Repayment of debt | - | - | - | (1,000 | ) | |||||||||||||
| Other | (3 | ) | (5 | ) | (2 | ) | (7 | ) | ||||||||||
| Net cash provided by (used in) financing activities | (1,656 | ) | (744 | ) | (11,617 | ) | 1,865 | |||||||||||
| Change in cash and cash equivalents | 589 | 702 | 1,399 | 1,143 | ||||||||||||||
| Cash and cash equivalents at beginning of period | 2,800 | 1,288 | 1,990 | 847 | ||||||||||||||
| Cash and cash equivalents at end of period | $ | 3,389 | $ | 1,990 | $ | 3,389 | $ | 1,990 | ||||||||||
NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2023
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