| NVIDIA CORPORATION | ||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||||||
| (In millions) | ||||||||||||||||
| (Unaudited) | ||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||
| July 28, | July 30, | July 28, | July 30, | |||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| Cash flows from operating activities: | ||||||||||||||||
| Net income | $ | 16,599 | $ | 6,188 | $ | 31,480 | $ | 8,232 | ||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||||
| Stock-based compensation expense | 1,154 | 842 | 2,164 | 1,576 | ||||||||||||
| Depreciation and amortization | 433 | 365 | 843 | 749 | ||||||||||||
| Gains on investments in non-affiliated entities and publicly-held equity securities, net | (193 | ) | (60 | ) | (264 | ) | (45 | ) | ||||||||
| Deferred income taxes | (1,699 | ) | (746 | ) | (3,276 | ) | (1,881 | ) | ||||||||
| Other | (144 | ) | (69 | ) | (288 | ) | (102 | ) | ||||||||
| Changes in operating assets and liabilities, net of acquisitions: | ||||||||||||||||
| Accounts receivable | (1,767 | ) | (2,986 | ) | (4,133 | ) | (3,239 | ) | ||||||||
| Inventories | (803 | ) | 296 | (1,380 | ) | 861 | ||||||||||
| Prepaid expenses and other assets | 714 | (376 | ) | (12 | ) | (592 | ) | |||||||||
| Accounts payable | 823 | 777 | 801 | 789 | ||||||||||||
| Accrued liabilities and other current liabilities | (888 | ) | 1,986 | 3,314 | 2,675 | |||||||||||
| Other long-term liabilities | 260 | 131 | 584 | 236 | ||||||||||||
| Net cash provided by operating activities | 14,489 | 6,348 | 29,833 | 9,259 | ||||||||||||
| Cash flows from investing activities: | ||||||||||||||||
| Proceeds from maturities of marketable securities | 4,094 | 2,598 | 8,098 | 5,111 | ||||||||||||
| Proceeds from sales of marketable securities | 15 | - | 164 | - | ||||||||||||
| Purchases of marketable securities | (5,744 | ) | (2,542 | ) | (15,047 | ) | (5,343 | ) | ||||||||
| Purchase related to property and equipment and intangible assets | (977 | ) | (289 | ) | (1,346 | ) | (537 | ) | ||||||||
| Acquisitions, net of cash acquired | (279 | ) | - | (317 | ) | (83 | ) | |||||||||
| Purchases of investments in non-affiliated entities | (344 | ) | (235 | ) | (534 | ) | (456 | ) | ||||||||
| Proceeds from sales of investments in non-affiliated entities | 50 | - | 105 | - | ||||||||||||
| Other | - | 21 | - | 21 | ||||||||||||
| Net cash used in investing activities | (3,185 | ) | (447 | ) | (8,877 | ) | (1,287 | ) | ||||||||
| Cash flows from financing activities: | ||||||||||||||||
| Proceeds related to employee stock plans | - | 1 | 285 | 247 | ||||||||||||
| Payments related to repurchases of common stock | (7,158 | ) | (3,067 | ) | (14,898 | ) | (3,067 | ) | ||||||||
| Repayment of debt | (1,250 | ) | (1,250 | ) | (1,250 | ) | (1,250 | ) | ||||||||
| Payments related to tax on restricted stock units | (1,637 | ) | (672 | ) | (3,389 | ) | (1,179 | ) | ||||||||
| Dividends paid | (246 | ) | (99 | ) | (344 | ) | (199 | ) | ||||||||
| Principal payments on property and equipment and intangible assets | (29 | ) | (11 | ) | (69 | ) | (31 | ) | ||||||||
| Net cash used in financing activities | (10,320 | ) | (5,098 | ) | (19,665 | ) | (5,479 | ) | ||||||||
| Change in cash, cash equivalents, and restricted cash | 984 | 803 | 1,291 | 2,493 | ||||||||||||
| Cash, cash equivalents, and restricted cash at beginning of period | 7,587 | 5,079 | 7,280 | 3,389 | ||||||||||||
| Cash, cash equivalents, and restricted cash at end of period | $ | 8,571 | $ | 5,882 | $ | 8,571 | $ | 5,882 | ||||||||
| Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheet: | ||||||||||||||||
| Cash and cash equivalents | $ | 8,563 | $ | 5,783 | $ | 8,563 | $ | 5,783 | ||||||||
| Restricted cash, included in Prepaid expenses and other current assets | 8 | 99 | 8 | 99 | ||||||||||||
| Total cash, cash equivalents, and restricted cash | $ | 8,571 | $ | 5,882 | $ | 8,571 | $ | 5,882 | ||||||||
| Supplemental disclosures of cash flow information: | ||||||||||||||||
| Cash paid for income taxes, net | $ | 7,208 | $ | 227 | $ | 7,449 | $ | 328 | ||||||||
NVIDIA Announces Financial Results for Second Quarter Fiscal 2025
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