NVIDIA Announces Financial Results for Third Quarter Fiscal 2024
|
NVIDIA CORPORATION | |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | | (In millions) | | (Unaudited) | | | | | | | | | | | | | | | | | | | | | | | | | | |
Three Months Ended | |
Nine Months Ended | | | | |
October 29,
| |
October 30,
| |
October 29,
| |
October 30, | | | | |
2023 | |
2022 | |
2023 | |
2022 | | | | | | | | | | | | | Cash flows from operating activities: | | | | | | | | | Net income | $ | 9,243 | | | $ | 680 | | | $ | 17,475 | | | $ | 2,954 | | | Adjustments to reconcile net income to net cash | | | | | | | | | provided by operating activities: | | | | | | | | | | Stock based compensation expense | | 979 | | | | 745 | | | | 2,555 | | | | 1,971 | | | | Depreciation and amortization | | 372 | | | | 406 | | | | 1,121 | | | | 1,118 | | | | Losses on investments in non-affiliates, net | | 69 | | | | 11 | | | | 24 | | | | 35 | | | | Deferred income taxes | | (529 | ) | | | (532 | ) | | | (2,411 | ) | | | (1,517 | ) | | | Acquisition termination cost | | - | | | | - | | | | - | | | | 1,353 | | | | Other | | (66 | ) | | | (45 | ) | | | (170 | ) | | | (27 | ) | | Changes in operating assets and liabilities, net of acquisitions: | | | | | | | | | | Accounts receivable | | (1,243 | ) | | | 410 | | | | (4,482 | ) | | | (258 | ) | | | Inventories | | (457 | ) | | | (563 | ) | | | 405 | | | | (1,848 | ) | | | Prepaid expenses and other assets | | 254 | | | | 247 | | | | (337 | ) | | | (1,307 | ) | | | Accounts payable | | 461 | | | | (917 | ) | | | 1,250 | | | | (358 | ) | | | Accrued liabilities and other current liabilities | | (1,722 | ) | | | (92 | ) | | | 953 | | | | 1,175 | | | | Other long-term liabilities | | (28 | ) | | | 42 | | | | 208 | | | | 102 | | |
Net cash provided by operating activities | |
7,333 | | | |
392 | | | |
16,591 | | | |
3,393 | | | Cash flows from investing activities: | | | | | | | | | | Proceeds from maturities of marketable securities | | 2,891 | | | | 5,809 | | | | 8,001 | | | | 16,792 | | | | Proceeds from sales of marketable securities | | - | | | | 75 | | | | - | | | | 1,806 | | | | Purchases of marketable securities | | (5,345 | ) | | | (2,188 | ) | | | (10,688 | ) | | | (9,764 | ) | | | Purchase related to property and equipment and intangible assets | | (278 | ) | | | (530 | ) | | | (815 | ) | | | (1,324 | ) | | | Acquisitions, net of cash acquired | | - | | | | - | | | | (83 | ) | | | (49 | ) | | | Investments in non-affiliates and other, net | | (437 | ) | | | (18 | ) | | | (872 | ) | | | (83 | ) | |
Net cash provided by (used in) investing activities | |
(3,169 |
) | | |
3,148 | | | |
(4,457 |
) | | |
7,378 | | | Cash flows from financing activities: | | | | | | | | | | Proceeds related to employee stock plans | | 156 | | | | 143 | | | | 403 | | | | 349 | | | | Payments related to repurchases of common stock | | (3,806 | ) | | | (3,485 | ) | | | (6,874 | ) | | | (8,826 | ) | | | Repayment of debt | | - | | | | - | | | | (1,250 | ) | | | - | | | | Payments related to tax on restricted stock units | | (764 | ) | | | (294 | ) | | | (1,942 | ) | | | (1,131 | ) | | | Dividends paid | | (99 | ) | | | (100 | ) | | | (296 | ) | | | (300 | ) | | | Principal payments on property and equipment and intangible assets | | (13 | ) | | | (18 | ) | | | (44 | ) | | | (54 | ) | | | Other | | (1 | ) | | | 1 | | | | (1 | ) | | | 1 | | |
Net cash used in financing activities | |
(4,527 |
) | | |
(3,753 |
) | | |
(10,004 |
) | | |
(9,961 |
) | | Change in cash, cash equivalents, and restricted cash | | (363 | ) | | | (213 | ) | | | 2,130 | | | | 810 | | | Cash, cash equivalents, and restricted cash at beginning of period | | 5,882 | | | | 3,013 | | | | 3,389 | | | | 1,990 | | |
Cash, cash equivalents, and restricted cash at end of period |
$ |
5,519 | | |
$ |
2,800 | | |
$ |
5,519 | | |
$ |
2,800 | | | | | | | | | | | | | | Supplemental disclosure of cash flow information: | | | | | | | | | | Cash paid for income taxes, net | $ | 4,348 | | | $ | 264 | | | $ | 4,676 | | | $ | 1,372 | | | | | | | | | | | | |
|
