NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2023
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NVIDIA CORPORATION | | |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | | | (In millions) | | | (Unaudited) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Three Months Ended | |
Twelve Months Ended | | | | | |
January 29, | |
January 30, |
January 29 | |
January 30, | | | | | | |
2023 | | | |
2022 | | | |
2023 | | | |
2022 | | | | | | | | | | | | | | | | Cash flows from operating activities: | | | | | | | | | | Net income | $ | 1,414 | | | $ | 3,003 | | | $ | 4,368 | | | $ | 9,752 | | | | Adjustments to reconcile net income to net cash | | | | | | | | | | provided by operating activities: | | | | | | | | | | | Stock based compensation expense | | 738 | | | | 551 | | | | 2,709 | | | $ | 2,004 | | | | | Depreciation and amortization | | 426 | | | | 309 | | | | 1,544 | | | | 1,174 | | | | | (Gain) losses on investments in non affiliates, net | | 10 | | | | 53 | | | | 45 | | | | (100 | ) | | | | Deferred income taxes | | (647 | ) | | | (225 | ) | | | (2,164 | ) | | | (406 | ) | | | | Acquisition termination cost | | - | | | | - | | | | 1,353 | | | | - | | | | | Other | | 20 | | | | 21 | | | | (7 | ) | | | 47 | | | | Changes in operating assets and liabilities, net of acquisitions: | | | | | | | | | | | Accounts receivable | | 1,081 | | | | (692 | ) | | | 822 | | | | (2,215 | ) | | | | Inventories | | (706 | ) | | | (374 | ) | | | (2,554 | ) | | | (774 | ) | | | | Prepaid expenses and other assets | | (210 | ) | | | (158 | ) | | | (1,517 | ) | | | (1,715 | ) | | | | Accounts payable | | (193 | ) | | | 183 | | | | (551 | ) | | | 568 | | | | | Accrued liabilities and other current liabilities | | 166 | | | | 423 | | | | 1,341 | | | | 581 | | | | | Other long-term liabilities | | 150 | | | | (61 | ) | | | 252 | | | | 192 | | | | Net cash provided by operating activities | | 2,249 | | | | 3,033 | | | | 5,641 | | | | 9,108 | | | | Cash flows from investing activities: | | | | | | | | | | | Proceeds from maturities of marketable securities | | 2,633 | | | | 7,417 | | | | 19,425 | | | | 15,197 | | | | | Proceeds from sales of marketable securities | | - | | | | 107 | | | | 1,806 | | | | 1,023 | | | | | Purchases of marketable securities | | (2,133 | ) | | | (8,767 | ) | | | (11,897 | ) | | | (24,787 | ) | | | | Purchase related to property and equipment and intangible assets | | (509 | ) | | | (273 | ) | | | (1,833 | ) | | | (976 | ) | | | | Acquisitions, net of cash acquired | | - | | | | (60 | ) | | | (49 | ) | | | (263 | ) | | | | Investments and other, net | | 5 | | | | (11 | ) | | | (77 | ) | | | (24 | ) | | | Net cash provided by (used in) investing activities | | (4 | ) | | | (1,587 | ) | | | 7,375 | | | | (9,830 | ) | | | Cash flows from financing activities: | | | | | | | | | | | Proceeds related to employee stock plans | | 5 | | | | 4 | | | | 355 | | | | 281 | | | | | Payments related to repurchases of common stock | | (1,212 | ) | | | - | | | | (10,039 | ) | | | - | | | | | Payments related to tax on restricted stock units | | (344 | ) | | | (622 | ) | | | (1,475 | ) | | | (1,904 | ) | | | | Dividends paid | | (98 | ) | | | (100 | ) | | | (398 | ) | | | (399 | ) | | | | Principal payments on property and equipment and intangible assets | | (4 | ) | | | (21 | ) | | | (58 | ) | | | (83 | ) | | | | Issuance of debt, net of issuance costs | | - | | | | - | | | | - | | | | 4,977 | | | | | Repayment of debt | | - | | | | - | | | | - | | | | (1,000 | ) | | | | Other | | (3 | ) | | | (5 | ) | | | (2 | ) | | | (7 | ) | | | Net cash provided by (used in) financing activities | | (1,656 | ) | | | (744 | ) | | | (11,617 | ) | | | 1,865 | | | | Change in cash and cash equivalents | | 589 | | | | 702 | | | | 1,399 | | | | 1,143 | | | | Cash and cash equivalents at beginning of period | | 2,800 | | | | 1,288 | | | | 1,990 | | | | 847 | | | | Cash and cash equivalents at end of period | $ | 3,389 | | | $ | 1,990 | | | $ | 3,389 | | | $ | 1,990 | | |
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