NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2020
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NVIDIA CORPORATION | |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | | (In millions) | | (Unaudited) | | | | | | | | | | | | | | | | | | | | |
Three Months Ended | |
Twelve Months Ended | | |
January 26, | |
January 27, | |
January 26, | |
January 27, | | |
2020 | |
2019 | |
2020 | |
2019 | | | | | | | | | | | Cash flows from operating activities: | | | | | | | | | Net income | $ | 950 | | | $ | 567 | | | $ | 2,796 | | | $ | 4,141 | | | Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | Stock-based compensation expense | | 220 | | | | 156 | | | | 844 | | | | 557 | | | Depreciation and amortization | | 106 | | | | 78 | | | | 381 | | | | 262 | | | Deferred income taxes | | 23 | | | | (345 | ) | | | 18 | | | | (315 | ) | | Other | | - | | | | (10 | ) | | | 5 | | | | (45 | ) | | Changes in operating assets and liabilities: | | | | | | | | | Accounts receivable | | (202 | ) | | | 794 | | | | (233 | ) | | | (149 | ) | | Inventories | | 66 | | | | (156 | ) | | | 597 | | | | (776 | ) | | Prepaid expenses and other assets | | 22 | | | | 13 | | | | 77 | | | | (55 | ) | | Accounts payable | | 104 | | | | (359 | ) | | | 194 | | | | (135 | ) | | Accrued and other current liabilities | | 157 | | | | 109 | | | | 54 | | | | 256 | | | Other long-term liabilities | | 19 | | | | 51 | | | | 28 | | | | 2 | | | Net cash provided by operating activities | | 1,465 | | | | 898 | | | | 4,761 | | | | 3,743 | | | Cash flows from investing activities: | | | | | | | | | Proceeds from maturities of marketable securities | | - | | | | 964 | | | | 4,744 | | | | 7,232 | | | Proceeds from sales of marketable securities | | 2 | | | | 314 | | | | 3,365 | | | | 428 | | | Purchases of marketable securities | | - | | | | (1,036 | ) | | | (1,461 | ) | | | (11,148 | ) | | Purchases of property and equipment and intangible assets | | (144 | ) | | | (203 | ) | | | (489 | ) | | | (600 | ) | | Investments and other, net | | (9 | ) | | | - | | | | (14 | ) | | | (9 | ) | | Net cash provided by (used in) investing activities | | (151 | ) | | | 39 | | | | 6,145 | | | | (4,097 | ) | | Cash flows from financing activities: | | | | | | | | | Payments related to repurchases of common stock | | - | | | | (724 | ) | | | - | | | | (1,579 | ) | | Repayment of Convertible Notes | | - | | | | (3 | ) | | | - | | | | (16 | ) | | Dividends paid | | (98 | ) | | | (98 | ) | | | (390 | ) | | | (371 | ) | | Proceeds related to employee stock plans | | 2 | | | | 3 | | | | 149 | | | | 137 | | | Payments related to tax on restricted stock units | | (87 | ) | | | (50 | ) | | | (551 | ) | | | (1,032 | ) | | Other | | - | | | | (4 | ) | | | - | | | | (5 | ) | | Net cash used in financing activities | | (183 | ) | | | (876 | ) | | | (792 | ) | | | (2,866 | ) | | Change in cash and cash equivalents | | 1,131 | | | | 61 | | | | 10,114 | | | | (3,220 | ) | | Cash and cash equivalents at beginning of period | | 9,765 | | | | 721 | | | | 782 | | | | 4,002 | | | Cash and cash equivalents at end of period | $ | 10,896 | | | $ | 782 | | | $ | 10,896 | | | $ | 782 | | | | | | | | | | | |
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