| NVIDIA CORPORATION | ||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
| (In millions) | ||||||||
| (Unaudited) | ||||||||
| Three Months Ended | ||||||||
| April 30, | May 1, | |||||||
| 2023 | 2022 | |||||||
| Cash flows from operating activities: | ||||||||
| Net income | $ | 2,043 | $ | 1,618 | ||||
| Adjustments to reconcile net income to net cash | ||||||||
| provided by operating activities: | ||||||||
| Stock based compensation expense | 735 | 578 | ||||||
| Depreciation and amortization | 384 | 334 | ||||||
| Losses on investments in non affiliates, net | 14 | 17 | ||||||
| Deferred income taxes | (1,135 | ) | (542 | ) | ||||
| Acquisition termination cost | - | 1,353 | ||||||
| Other | (34 | ) | 23 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | ||||||||
| Accounts receivable | (252 | ) | (788 | ) | ||||
| Inventories | 566 | (560 | ) | |||||
| Prepaid expenses and other assets | (215 | ) | (1,261 | ) | ||||
| Accounts payable | 11 | 255 | ||||||
| Accrued liabilities and other current liabilities | 689 | 634 | ||||||
| Other long-term liabilities | 105 | 70 | ||||||
| Net cash provided by operating activities | 2,911 | 1,731 | ||||||
| Cash flows from investing activities: | ||||||||
| Proceeds from maturities of marketable securities | 2,512 | 5,947 | ||||||
| Proceeds from sales of marketable securities | - | 1,029 | ||||||
| Purchases of marketable securities | (2,801 | ) | (3,932 | ) | ||||
| Purchase related to property and equipment and intangible assets | (248 | ) | (361 | ) | ||||
| Acquisitions, net of cash acquired | (83 | ) | (36 | ) | ||||
| Investments and other, net | (221 | ) | (35 | ) | ||||
| Net cash provided by (used in) investing activities | (841 | ) | 2,612 | |||||
| Cash flows from financing activities: | ||||||||
| Proceeds related to employee stock plans | 246 | 204 | ||||||
| Payments related to tax on restricted stock units | (507 | ) | (532 | ) | ||||
| Dividends paid | (99 | ) | (100 | ) | ||||
| Principal payments on property and equipment and intangible assets | (20 | ) | (22 | ) | ||||
| Payments related to repurchases of common stock | - | (1,996 | ) | |||||
| Net cash provided by (used in) financing activities | (380 | ) | (2,446 | ) | ||||
| Change in cash and cash equivalents | 1,690 | 1,897 | ||||||
| Cash and cash equivalents at beginning of period | 3,389 | 1,990 | ||||||
| Cash and cash equivalents at end of period | $ | 5,079 | $ | 3,887 | ||||
NVIDIA Announces Financial Results for First Quarter Fiscal 2024
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