| NVIDIA CORPORATION | |||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||||||||
| (In millions) | |||||||||||||||||
| (Unaudited) | |||||||||||||||||
| Three Months Ended | Twelve Months Ended | ||||||||||||||||
| January 28, | January 29, | January 28, | January 29, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||||
| Cash flows from operating activities: | |||||||||||||||||
| Net income | $ | 12,285 | $ | 1,414 | $ | 29,760 | $ | 4,368 | |||||||||
| Adjustments to reconcile net income to net cash | |||||||||||||||||
| provided by operating activities: | |||||||||||||||||
| Stock-based compensation expense | 993 | 738 | 3,549 | 2,709 | |||||||||||||
| Depreciation and amortization | 387 | 426 | 1,508 | 1,544 | |||||||||||||
| Deferred income taxes | (78 | ) | (647 | ) | (2,489 | ) | (2,164 | ) | |||||||||
| (Gains) losses on investments in non-affiliated entities, net | (260 | ) | 10 | (238 | ) | 45 | |||||||||||
| Acquisition termination cost | - | - | - | 1,353 | |||||||||||||
| Other | (109 | ) | 20 | (278 | ) | (7 | ) | ||||||||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||||||||||||
| Accounts receivable | (1,690 | ) | 1,081 | (6,172 | ) | 822 | |||||||||||
| Inventories | (503 | ) | (706 | ) | (98 | ) | (2,554 | ) | |||||||||
| Prepaid expenses and other assets | (1,184 | ) | (210 | ) | (1,522 | ) | (1,517 | ) | |||||||||
| Accounts payable | 281 | (193 | ) | 1,531 | (551 | ) | |||||||||||
| Accrued and other current liabilities | 1,072 | 166 | 2,025 | 1,341 | |||||||||||||
| Other long-term liabilities | 305 | 150 | 514 | 252 | |||||||||||||
| Net cash provided by operating activities | 11,499 | 2,249 | 28,090 | 5,641 | |||||||||||||
| Cash flows from investing activities: | |||||||||||||||||
| Proceeds from maturities of marketable securities | 1,731 | 2,633 | 9,732 | 19,425 | |||||||||||||
| Proceeds from sales of marketable securities | 50 | - | 50 | 1,806 | |||||||||||||
| Purchases of marketable securities | (7,524 | ) | (2,133 | ) | (18,211 | ) | (11,897 | ) | |||||||||
| Purchase related to property and equipment and intangible assets | (253 | ) | (509 | ) | (1,069 | ) | (1,833 | ) | |||||||||
| Acquisitions, net of cash acquired | - | - | (83 | ) | (49 | ) | |||||||||||
| Investments in non-affiliated entities and other, net | (113 | ) | 5 | (985 | ) | (77 | ) | ||||||||||
| Net cash provided by (used in) investing activities | (6,109 | ) | (4 | ) | (10,566 | ) | 7,375 | ||||||||||
| Cash flows from financing activities: | |||||||||||||||||
| Proceeds related to employee stock plans | - | 5 | 403 | 355 | |||||||||||||
| Payments related to repurchases of common stock | (2,660 | ) | (1,212 | ) | (9,533 | ) | (10,039 | ) | |||||||||
| Payments related to tax on restricted stock units | (841 | ) | (344 | ) | (2,783 | ) | (1,475 | ) | |||||||||
| Repayment of debt | - | - | (1,250 | ) | - | ||||||||||||
| Dividends paid | (99 | ) | (98 | ) | (395 | ) | (398 | ) | |||||||||
| Principal payments on property and equipment and intangible assets | (29 | ) | (4 | ) | (74 | ) | (58 | ) | |||||||||
| Other | - | (3 | ) | (1 | ) | (2 | ) | ||||||||||
| Net cash used in financing activities | (3,629 | ) | (1,656 | ) | (13,633 | ) | (11,617 | ) | |||||||||
| Change in cash and cash equivalents | 1,761 | 589 | 3,891 | 1,399 | |||||||||||||
| Cash and cash equivalents at beginning of period | 5,519 | 2,800 | 3,389 | 1,990 | |||||||||||||
| Cash and cash equivalents at end of period | $ | 7,280 | $ | 3,389 | $ | 7,280 | $ | 3,389 | |||||||||
| Supplemental disclosures of cash flow information: | |||||||||||||||||
| Cash paid for income taxes, net | $ | 1,874 | $ | 32 | $ | 6,549 | $ | 1,404 | |||||||||
| Cash paid for interest | $ | 26 | $ | 28 | $ | 252 | $ | 254 | |||||||||
NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2024
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