|
NVIDIA CORPORATION |
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
| (In millions) |
| (Unaudited) |
| | | | | | |
| | | | | | |
| | | |
Three Months Ended |
| | | |
May 2, | |
April 26, |
| | | | |
2021 | | | |
2020 | |
| | | | | | |
| Cash flows from operating activities: | | | |
| Net income | $ | 1,912 | | | $ | 917 | |
| Adjustments to reconcile net income to net cash | | | |
| provided by operating activities: | | | |
| | Stock-based compensation expense | | 429 | | | | 224 | |
| | Depreciation and amortization | | 281 | | | | 107 | |
| | Deferred income taxes | | 24 | | | | 16 | |
| | (Gains) losses on investments in non affiliates, net | | (133 | ) | | | 3 | |
| | Other | | (3 | ) | | | 1 | |
| Changes in operating assets and liabilities, net of acquisitions: | | | |
| | Accounts receivable | | (595 | ) | | | (249 | ) |
| | Inventories | | (159 | ) | | | (151 | ) |
| | Prepaid expenses and other assets | | 2 | | | | (8 | ) |
| | Accounts payable | | 70 | | | | 71 | |
| | Accrued and other current liabilities | | (1 | ) | | | (32 | ) |
| | Other long-term liabilities | | 47 | | | | 10 | |
| Net cash provided by operating activities | | 1,874 | | | | 909 | |
| Cash flows from investing activities: | | | |
| | Proceeds from maturities of marketable securities | | 3,140 | | | | - | |
| | Proceeds from sales of marketable securities | | 358 | | | | 1 | |
| | Purchases of marketable securities | | (4,470 | ) | | | (861 | ) |
| | Purchases related to property and equipment and intangible assets | | | (298 | ) | | | (155 | ) |
| | Investments and other, net | | (2 | ) | | | (6 | ) |
| | Acquisitions, net of cash acquired | | - | | | | (34 | ) |
| Net cash used in investing activities | | (1,272 | ) | | | (1,055 | ) |
| Cash flows from financing activities: | | | |
| | Proceeds related to employee stock plans | | 126 | | | | 88 | |
| | Payments related to tax on restricted stock units | | (477 | ) | | | (222 | ) |
| | Dividends paid | | (99 | ) | | | (98 | ) |
| | Principal payments on property and equipment | | (19 | ) | | | - | |
| | Other | | (2 | ) | | | (3 | ) |
| | Issuance of debt, net of issuance costs | | - | | | | 4,979 | |
| Net cash provided by (used in) financing activities | | (471 | ) | | | 4,744 | |
| Change in cash and cash equivalents | | 131 | | | | 4,598 | |
| Cash and cash equivalents at beginning of period | | 847 | | | | 10,896 | |
| Cash and cash equivalents at end of period | $ | 978 | | | $ | 15,494 | |
| | | | | | |
