| |
|
NVIDIA CORPORATION |
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
| (In millions) |
| (Unaudited) |
| | | | | | |
| | | |
Three Months Ended |
| | | |
April 26, | |
April 28, |
| | | | |
2020 | | | |
2019 | |
| | | | | | |
| Cash flows from operating activities: | | | |
| Net income | $ | 917 | | | $ | 394 | |
| Adjustments to reconcile net income to net cash provided by operating activities: | | |
| | Stock-based compensation expense | | 224 | | | | 178 | |
| | Depreciation and amortization | | 107 | | | | 91 | |
| | Deferred income taxes | | 16 | | | | (42 | ) |
| | Other | | 4 | | | | (2 | ) |
| Changes in operating assets and liabilities: | | | |
| | Accounts receivable | | (249 | ) | | | 182 | |
| | Inventories | | (151 | ) | | | 153 | |
| | Prepaid expenses and other assets | | (8 | ) | | | 5 | |
| | Accounts payable | | 71 | | | | (123 | ) |
| | Accrued and other current liabilities | | (32 | ) | | | (129 | ) |
| | Other long-term liabilities | | 10 | | | | 13 | |
| Net cash provided by operating activities | | 909 | | | | 720 | |
| Cash flows from investing activities: | | | |
| | Proceeds from sales of marketable securities | | 1 | | | | 26 | |
| | Proceeds from maturities of marketable securities | | - | | | | 2,219 | |
| | Purchases of marketable securities | | (861 | ) | | | (622 | ) |
| | Purchases of property and equipment and intangible assets | | (155 | ) | | | (128 | ) |
| | Acquisition of business, net of cash acquired | | (34 | ) | | | - | |
| | Investments and other, net | | (6 | ) | | | - | |
| Net cash provided by (used in) investing activities | | (1,055 | ) | | | 1,495 | |
| Cash flows from financing activities: | | | |
| | Issuance of debt, net of issuance costs | | 4,979 | | | | - | |
| | Proceeds related to employee stock plans | | 88 | | | | 83 | |
| | Payments related to tax on restricted stock units | | (222 | ) | | | (211 | ) |
| | Dividends paid | | (98 | ) | | | (97 | ) |
| | Other | | (3 | ) | | | - | |
| Net cash provided by (used in) financing activities | | 4,744 | | | | (225 | ) |
| Change in cash and cash equivalents | | 4,598 | | | | 1,990 | |
| Cash and cash equivalents at beginning of period | | 10,896 | | | | 782 | |
| Cash and cash equivalents at end of period | $ | 15,494 | | | $ | 2,772 | |
