NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2022
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NVIDIA CORPORATION | | |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | | | (In millions) | | | (Unaudited) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Three Months Ended | |
Twelve Months Ended | | | | | |
January 30, | |
January 31, | |
January 30, | |
January 31, | | | | | | |
2022 | | | |
2021 | | | |
2022 | | | |
2021 | | | | | | | | | | | | | | | | Cash flows from operating activities: | | | | | | | | | | Net income | $ | 3,003 | | | $ | 1,457 | | | $ | 9,752 | | | $ | 4,332 | | | | Adjustments to reconcile net income to net cash | | | | | | | | | | provided by operating activities: | | | | | | | | | | | Stock-based compensation expense | | 551 | | | | 417 | | | | 2,004 | | | | 1,397 | | | | | Depreciation and amortization | | 309 | | | | 287 | | | | 1,174 | | | | 1,098 | | | | | Deferred income taxes | | (225 | ) | | | (164 | ) | | | (406 | ) | | | (282 | ) | | | | (Gains) losses on investments in non affiliates, net | | 53 | | | | (9 | ) | | | (100 | ) | | | - | | | | | Other | | 21 | | | | (8 | ) | | | 47 | | | | (20 | ) | | | Changes in operating assets and liabilities, net of acquisitions: | | | | | | | | | | | Accounts receivable | | (692 | ) | | | 117 | | | | (2,215 | ) | | | (550 | ) | | | | Inventories | | (374 | ) | | | (334 | ) | | | (774 | ) | | | (524 | ) | | | | Prepaid expenses and other assets | | (158 | ) | | | 15 | | | | (1,715 | ) | | | (394 | ) | | | | Accounts payable | | 183 | | | | 23 | | | | 568 | | | | 312 | | | | | Accrued and other current liabilities | | 423 | | | | 178 | | | | 581 | | | | 290 | | | | | Other long-term liabilities | | (61 | ) | | | 88 | | | | 192 | | | | 163 | | | | Net cash provided by operating activities | | 3,033 | | | | 2,067 | | | | 9,108 | | | | 5,822 | | | | Cash flows from investing activities: | | | | | | | | | | | Proceeds from maturities of marketable securities | | 7,417 | | | | 3,627 | | | | 15,197 | | | | 8,792 | | | | | Proceeds from sales of marketable securities | | 107 | | | | 25 | | | | 1,023 | | | | 527 | | | | | Purchases of marketable securities | | (8,767 | ) | | | (6,468 | ) | | | (24,787 | ) | | | (19,308 | ) | | | | Purchases related to property and equipment and intangible assets | | | (273 | ) | | | (283 | ) | | | (976 | ) | | | (1,128 | ) | | | | Acquisitions, net of cash acquired | | (60 | ) | | | - | | | | (263 | ) | | | (8,524 | ) | | | | Investments and other, net | | (11 | ) | | | (30 | ) | | | (24 | ) | | | (34 | ) | | | Net cash used in investing activities | | (1,587 | ) | | | (3,129 | ) | | | (9,830 | ) | | | (19,675 | ) | | | Cash flows from financing activities: | | | | | | | | | | | Proceeds related to employee stock plans | | 4 | | | | 4 | | | | 281 | | | | 194 | | | | | Payments related to tax on restricted stock units | | (622 | ) | | | (225 | ) | | | (1,904 | ) | | | (942 | ) | | | | Dividends paid | | (100 | ) | | | (99 | ) | | | (399 | ) | | | (395 | ) | | | | Principal payments on property and equipment | | (21 | ) | | | (17 | ) | | | (83 | ) | | | (17 | ) | | | | Other | | (5 | ) | | | (2 | ) | | | (7 | ) | | | (4 | ) | | | | Issuance of debt, net of issuance costs | | - | | | | (3 | ) | | | 4,977 | | | | 4,968 | | | | | Repayment of debt | | - | | | | - | | | | (1,000 | ) | | | - | | | | Net cash provided by (used in) financing activities | | (744 | ) | | | (342 | ) | | | 1,865 | | | | 3,804 | | | | Change in cash and cash equivalents | | 702 | | | | (1,404 | ) | | | 1,143 | | | | (10,049 | ) | | | Cash and cash equivalents at beginning of period | | 1,288 | | | | 2,251 | | | | 847 | | | | 10,896 | | | | Cash and cash equivalents at end of period | $ | 1,990 | | | $ | 847 | | | $ | 1,990 | | | $ | 847 | | | | | | | | | | | | | | |
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