NVIDIA Announces Financial Results for Second Quarter Fiscal 2022
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NVIDIA CORPORATION | | |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | | | (In millions) | | | (Unaudited) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Three Months Ended | |
Six Months Ended | | | | | |
August 1, | |
July 26, | |
August 1, | |
July 26, | | | | | |
2021 | |
2020 | |
2021 | |
2020 | | | | | | | | | | | | | | | Cash flows from operating activities: | | | | | | | | | | Net income | $ | 2,374 | | | $ | 622 | | | $ | 4,285 | | | $ | 1,539 | | | | Adjustments to reconcile net income to net cash | | | | | | | | | | provided by operating activities: | | | | | | | | | | | Stock-based compensation expense | | 465 | | | | 374 | | | | 894 | | | | 598 | | | | | Depreciation and amortization | | 286 | | | | 404 | | | | 567 | | | | 511 | | | | | Deferred income taxes | | (185 | ) | | | (80 | ) | | | (161 | ) | | | (64 | ) | | | | (Gains) losses on investments in non affiliates, net | | 1 | | | | 2 | | | | (133 | ) | | | 5 | | | | | Other | | 18 | | | | (10 | ) | | | 16 | | | | (10 | ) | | | Changes in operating assets and liabilities, net of acquisitions: | | | | | | | | | | | Accounts receivable | | (563 | ) | | | 44 | | | | (1,157 | ) | | | (205 | ) | | | | Inventories | | (123 | ) | | | 54 | | | | (282 | ) | | | (97 | ) | | | | Prepaid expenses and other assets | | 16 | | | | 42 | | | | 18 | | | | 34 | | | | | Accounts payable | | 209 | | | | (8 | ) | | | 279 | | | | 63 | | | | | Accrued and other current liabilities | | 133 | | | | 112 | | | | 132 | | | | 81 | | | | | Other long-term liabilities | | 51 | | | | 10 | | | | 98 | | | | 21 | | | | Net cash provided by operating activities | | 2,682 | | | | 1,566 | | | | 4,556 | | | | 2,476 | | | | Cash flows from investing activities: | | | | | | | | | | | Proceeds from maturities of marketable securities | | 2,096 | | | | 1,032 | | | | 5,236 | | | | 1,032 | | | | | Proceeds from sales of marketable securities | | 347 | | | | 258 | | | | 705 | | | | 259 | | | | | Purchases of marketable securities | | (4,798 | ) | | | (7,425 | ) | | | (9,268 | ) | | | (8,286 | ) | | | | Purchases related to property and equipment and intangible assets | | | (183 | ) | | | (217 | ) | | | (481 | ) | | | (372 | ) | | | | Investments and other, net | | 5 | | | | - | | | | 3 | | | | (7 | ) | | | | Acquisitions, net of cash acquired | | - | | | | (7,137 | ) | | | - | | | | (7,171 | ) | | | Net cash used in investing activities | | (2,533 | ) | | | (13,489 | ) | | | (3,805 | ) | | | (14,545 | ) | | | Cash flows from financing activities: | | | | | | | | | | | Issuance of debt, net of issuance costs | | 4,985 | | | | (8 | ) | | | 4,985 | | | | 4,971 | | | | | Proceeds related to employee stock plans | | 2 | | | | 6 | | | | 128 | | | | 94 | | | | | Payments related to tax on restricted stock units | | (365 | ) | | | (196 | ) | | | (843 | ) | | | (418 | ) | | | | Dividends paid | | (100 | ) | | | (99 | ) | | | (198 | ) | | | (197 | ) | | | | Principal payments on property and equipment | | (21 | ) | | | - | | | | (40 | ) | | | - | | | | | Other | | - | | | | - | | | | (2 | ) | | | (3 | ) | | | Net cash provided by (used in) financing activities | | 4,501 | | | | (297 | ) | | | 4,030 | | | | 4,447 | | | | Change in cash and cash equivalents | | 4,650 | | | | (12,220 | ) | | | 4,781 | | | | (7,622 | ) | | | Cash and cash equivalents at beginning of period | | 978 | | | | 15,494 | | | | 847 | | | | 10,896 | | | | Cash and cash equivalents at end of period | $ | 5,628 | | | $ | 3,274 | | | $ | 5,628 | | | $ | 3,274 | | |
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