NVIDIA Announces Financial Results for Second Quarter Fiscal 2022

NVIDIA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)


		Three Months Ended						Six Months Ended
		August 1,			July 26,			August 1,			July 26,
		2021			2020			2021			2020

Cash flows from operating activities:
Net income		$	2,374		$	622		$	4,285		$	1,539
Adjustments to reconcile net income to net cash
provided by operating activities:
	Stock-based compensation expense		465			374			894			598
	Depreciation and amortization		286			404			567			511
	Deferred income taxes		(185	)		(80	)		(161	)		(64	)
	(Gains) losses on investments in non affiliates, net		1			2			(133	)		5
	Other		18			(10	)		16			(10	)
Changes in operating assets and liabilities, net of acquisitions:
	Accounts receivable		(563	)		44			(1,157	)		(205	)
	Inventories		(123	)		54			(282	)		(97	)
	Prepaid expenses and other assets		16			42			18			34
	Accounts payable		209			(8	)		279			63
	Accrued and other current liabilities		133			112			132			81
	Other long-term liabilities		51			10			98			21
Net cash provided by operating activities			2,682			1,566			4,556			2,476
Cash flows from investing activities:
	Proceeds from maturities of marketable securities		2,096			1,032			5,236			1,032
	Proceeds from sales of marketable securities		347			258			705			259
	Purchases of marketable securities		(4,798	)		(7,425	)		(9,268	)		(8,286	)
	Purchases related to property and equipment and intangible assets		(183	)		(217	)		(481	)		(372	)
	Investments and other, net		5			-			3			(7	)
	Acquisitions, net of cash acquired		-			(7,137	)		-			(7,171	)
Net cash used in investing activities			(2,533	)		(13,489	)		(3,805	)		(14,545	)
Cash flows from financing activities:
	Issuance of debt, net of issuance costs		4,985			(8	)		4,985			4,971
	Proceeds related to employee stock plans		2			6			128			94
	Payments related to tax on restricted stock units		(365	)		(196	)		(843	)		(418	)
	Dividends paid		(100	)		(99	)		(198	)		(197	)
	Principal payments on property and equipment		(21	)		-			(40	)		-
	Other		-			-			(2	)		(3	)
Net cash provided by (used in) financing activities			4,501			(297	)		4,030			4,447
Change in cash and cash equivalents			4,650			(12,220	)		4,781			(7,622	)
Cash and cash equivalents at beginning of period			978			15,494			847			10,896
Cash and cash equivalents at end of period		$	5,628		$	3,274		$	5,628		$	3,274

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