| NVIDIA CORPORATION | |||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||||||
| (In millions) | |||||||||||||||||
| (Unaudited) | |||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||
|
October 29,
|
October 30,
|
October 29,
| October 30, | ||||||||||||||
| 2023 | 2022 | 2023 | 2022 | ||||||||||||||
| Cash flows from operating activities: | |||||||||||||||||
| Net income | $ | 9,243 | $ | 680 | $ | 17,475 | $ | 2,954 | |||||||||
| Adjustments to reconcile net income to net cash | |||||||||||||||||
| provided by operating activities: | |||||||||||||||||
| Stock based compensation expense | 979 | 745 | 2,555 | 1,971 | |||||||||||||
| Depreciation and amortization | 372 | 406 | 1,121 | 1,118 | |||||||||||||
| Losses on investments in non-affiliates, net | 69 | 11 | 24 | 35 | |||||||||||||
| Deferred income taxes | (529 | ) | (532 | ) | (2,411 | ) | (1,517 | ) | |||||||||
| Acquisition termination cost | - | - | - | 1,353 | |||||||||||||
| Other | (66 | ) | (45 | ) | (170 | ) | (27 | ) | |||||||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||||||||||||
| Accounts receivable | (1,243 | ) | 410 | (4,482 | ) | (258 | ) | ||||||||||
| Inventories | (457 | ) | (563 | ) | 405 | (1,848 | ) | ||||||||||
| Prepaid expenses and other assets | 254 | 247 | (337 | ) | (1,307 | ) | |||||||||||
| Accounts payable | 461 | (917 | ) | 1,250 | (358 | ) | |||||||||||
| Accrued liabilities and other current liabilities | (1,722 | ) | (92 | ) | 953 | 1,175 | |||||||||||
| Other long-term liabilities | (28 | ) | 42 | 208 | 102 | ||||||||||||
| Net cash provided by operating activities | 7,333 | 392 | 16,591 | 3,393 | |||||||||||||
| Cash flows from investing activities: | |||||||||||||||||
| Proceeds from maturities of marketable securities | 2,891 | 5,809 | 8,001 | 16,792 | |||||||||||||
| Proceeds from sales of marketable securities | - | 75 | - | 1,806 | |||||||||||||
| Purchases of marketable securities | (5,345 | ) | (2,188 | ) | (10,688 | ) | (9,764 | ) | |||||||||
| Purchase related to property and equipment and intangible assets | (278 | ) | (530 | ) | (815 | ) | (1,324 | ) | |||||||||
| Acquisitions, net of cash acquired | - | - | (83 | ) | (49 | ) | |||||||||||
| Investments in non-affiliates and other, net | (437 | ) | (18 | ) | (872 | ) | (83 | ) | |||||||||
| Net cash provided by (used in) investing activities | (3,169 | ) | 3,148 | (4,457 | ) | 7,378 | |||||||||||
| Cash flows from financing activities: | |||||||||||||||||
| Proceeds related to employee stock plans | 156 | 143 | 403 | 349 | |||||||||||||
| Payments related to repurchases of common stock | (3,806 | ) | (3,485 | ) | (6,874 | ) | (8,826 | ) | |||||||||
| Repayment of debt | - | - | (1,250 | ) | - | ||||||||||||
| Payments related to tax on restricted stock units | (764 | ) | (294 | ) | (1,942 | ) | (1,131 | ) | |||||||||
| Dividends paid | (99 | ) | (100 | ) | (296 | ) | (300 | ) | |||||||||
| Principal payments on property and equipment and intangible assets | (13 | ) | (18 | ) | (44 | ) | (54 | ) | |||||||||
| Other | (1 | ) | 1 | (1 | ) | 1 | |||||||||||
| Net cash used in financing activities | (4,527 | ) | (3,753 | ) | (10,004 | ) | (9,961 | ) | |||||||||
| Change in cash, cash equivalents, and restricted cash | (363 | ) | (213 | ) | 2,130 | 810 | |||||||||||
| Cash, cash equivalents, and restricted cash at beginning of period | 5,882 | 3,013 | 3,389 | 1,990 | |||||||||||||
| Cash, cash equivalents, and restricted cash at end of period | $ | 5,519 | $ | 2,800 | $ | 5,519 | $ | 2,800 | |||||||||
| Supplemental disclosure of cash flow information: | |||||||||||||||||
| Cash paid for income taxes, net | $ | 4,348 | $ | 264 | $ | 4,676 | $ | 1,372 | |||||||||
NVIDIA Announces Financial Results for Third Quarter Fiscal 2024
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