NVIDIA Announces Financial Results for Third Quarter Fiscal 2022

NVIDIA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)


		Three Months Ended						Nine Months Ended
		October 31,			October 25,			October 31,			October 25,
			2021			2020			2021			2020

Cash flows from operating activities:
Net income		$	2,464		$	1,336		$	6,749		$	2,875
Adjustments to reconcile net income to net cash
provided by operating activities:
	Stock-based compensation expense		559			383			1,453			981
	Depreciation and amortization		298			299			865			810
	Deferred income taxes		(21	)		(53	)		(182	)		(117	)
	(Gains) losses on investments in non affiliates, net		(20	)		-			(152	)		-
	Other		10			2			25			(2	)
Changes in operating assets and liabilities, net of acquisitions:
	Accounts receivable		(366	)		(463	)		(1,523	)		(667	)
	Inventories		(118	)		(93	)		(400	)		(190	)
	Prepaid expenses and other assets		(1,575	)		(443	)		(1,557	)		(409	)
	Accounts payable		195			225			474			289
	Accrued and other current liabilities		(62	)		31			70			111
	Other long-term liabilities		155			55			253			74
Net cash provided by operating activities			1,519			1,279			6,075			3,755
Cash flows from investing activities:
	Proceeds from maturities of marketable securities		2,545			4,133			7,780			5,165
	Proceeds from sales of marketable securities		211			243			916			502
	Purchases of marketable securities		(6,752	)		(4,554	)		(16,020	)		(12,840	)
	Purchases related to property and equipment and intangible assets		(221	)		(473	)		(703	)		(845	)
	Acquisitions, net of cash acquired		(203	)		(1,353	)		(203	)		(8,524	)
	Investments and other, net		(18	)		3			(14	)		(4	)
Net cash used in investing activities			(4,438	)		(2,001	)		(8,244	)		(16,546	)
Cash flows from financing activities:
	Issuance of debt, net of issuance costs		(8	)		-			4,977			4,971
	Proceeds related to employee stock plans		149			96			277			190
	Repayment of debt		(1,000	)		-			(1,000	)		-
	Payments related to tax on restricted stock units		(440	)		(298	)		(1,282	)		(716	)
	Dividends paid		(100	)		(99	)		(298	)		(296	)
	Principal payments on property and equipment		(22	)		-			(62	)		-
	Other		-			-			(2	)		(3	)
Net cash provided by (used in) financing activities			(1,421	)		(301	)		2,610			4,146
Change in cash and cash equivalents			(4,340	)		(1,023	)		441			(8,645	)
Cash and cash equivalents at beginning of period			5,628			3,274			847			10,896
Cash and cash equivalents at end of period		$	1,288		$	2,251		$	1,288		$	2,251

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