NVIDIA Announces Financial Results for Second Quarter Fiscal 2021
|
NVIDIA CORPORATION |
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
| (In millions) |
| (Unaudited) |
| |
|
|
|
|
|
|
|
|
| |
|
Three Months Ended |
|
Six Months Ended |
| |
|
July 26, |
|
July 28, |
|
July 26, |
|
July 28, |
| |
|
|
2020 |
|
|
|
2019 |
|
|
|
2020 |
|
|
|
2019 |
|
| |
|
|
|
|
|
|
|
|
| Cash flows from operating activities: |
|
|
|
|
|
|
|
| Net income |
$ |
622 |
|
|
$ |
552 |
|
|
$ |
1,539 |
|
|
$ |
947 |
|
| Adjustments to reconcile net income to net cash |
|
|
|
|
|
|
|
| provided by operating activities: |
|
|
|
|
|
|
|
| Depreciation and amortization |
|
404 |
|
|
|
92 |
|
|
|
511 |
|
|
|
183 |
|
| Stock-based compensation expense |
|
374 |
|
|
|
223 |
|
|
|
598 |
|
|
|
401 |
|
| Deferred income taxes |
|
(80 |
) |
|
|
15 |
|
|
|
(64 |
) |
|
|
(27 |
) |
| Other |
|
(8 |
) |
|
|
4 |
|
|
|
(5 |
) |
|
|
1 |
|
| Changes in operating assets and liabilities, net of acquisitions: |
|
|
|
|
|
|
|
| Accounts receivable |
|
44 |
|
|
|
(319 |
) |
|
|
(205 |
) |
|
|
(137 |
) |
| Inventories |
|
54 |
|
|
|
225 |
|
|
|
(97 |
) |
|
|
378 |
|
| Prepaid expenses and other assets |
|
42 |
|
|
|
31 |
|
|
|
34 |
|
|
|
36 |
|
| Accounts payable |
|
(8 |
) |
|
|
78 |
|
|
|
63 |
|
|
|
(45 |
) |
| Accrued and other current liabilities |
|
112 |
|
|
|
49 |
|
|
|
81 |
|
|
|
(79 |
) |
| Other long-term liabilities |
|
10 |
|
|
|
(14 |
) |
|
|
21 |
|
|
|
(2 |
) |
| Net cash provided by operating activities |
|
1,566 |
|
|
|
936 |
|
|
|
2,476 |
|
|
|
1,656 |
|
| Cash flows from investing activities: |
|
|
|
|
|
|
|
| Proceeds from maturities of marketable securities |
|
1,032 |
|
|
|
1,372 |
|
|
|
1,032 |
|
|
|
3,592 |
|
| Proceeds from sales of marketable securities |
|
258 |
|
|
|
3,126 |
|
|
|
259 |
|
|
|
3,152 |
|
| Purchases of marketable securities |
|
(7,425 |
) |
|
|
(840 |
) |
|
|
(8,286 |
) |
|
|
(1,461 |
) |
| Acquisition of businesses, net of cash acquired |
|
(7,137 |
) |
|
|
- |
|
|
|
(7,171 |
) |
|
|
- |
|
| Purchases of property and equipment and intangible assets |
|
(217 |
) |
|
|
(113 |
) |
|
|
(372 |
) |
|
|
(241 |
) |
| Investments and other, net |
|
- |
|
|
|
(2 |
) |
|
|
(7 |
) |
|
|
(2 |
) |
| Net cash provided by (used in) investing activities |
|
(13,489 |
) |
|
|
3,543 |
|
|
|
(14,545 |
) |
|
|
5,040 |
|
| Cash flows from financing activities: |
|
|
|
|
|
|
|
| Proceeds related to employee stock plans |
|
6 |
|
|
|
1 |
|
|
|
94 |
|
|
|
83 |
|
| Payments related to tax on restricted stock units |
|
(196 |
) |
|
|
(50 |
) |
|
|
(418 |
) |
|
|
(261 |
) |
| Dividends paid |
|
(99 |
) |
|
|
(97 |
) |
|
|
(197 |
) |
|
|
(195 |
) |
| Issuance of debt, net of issuance costs |
|
(8 |
) |
|
|
- |
|
|
|
4,971 |
|
|
|
- |
|
| Other |
|
- |
|
|
|
- |
|
|
|
(3 |
) |
|
|
- |
|
| Net cash provided by (used in) financing activities |
|
(297 |
) |
|
|
(146 |
) |
|
|
4,447 |
|
|
|
(373 |
) |
| Change in cash and cash equivalents |
|
(12,220 |
) |
|
|
4,333 |
|
|
|
(7,622 |
) |
|
|
6,323 |
|
| Cash and cash equivalents at beginning of period |
|
15,494 |
|
|
|
2,772 |
|
|
|
10,896 |
|
|
|
782 |
|
| Cash and cash equivalents at end of period |
$ |
3,274 |
|
|
$ |
7,105 |
|
|
$ |
3,274 |
|
|
$ |
7,105 |
|
| |
|
|
|
|
|
|
|
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|
