NVIDIA Announces Financial Results for Third Quarter Fiscal 2022
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NVIDIA CORPORATION |
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
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| (In millions) |
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| (Unaudited) |
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Three Months Ended |
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Nine Months Ended |
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October 31, |
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October 25, |
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October 31, |
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October 25, |
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2021 |
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2020 |
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2021 |
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2020 |
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| Cash flows from operating activities: |
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| Net income |
$ |
2,464 |
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$ |
1,336 |
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$ |
6,749 |
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$ |
2,875 |
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| Adjustments to reconcile net income to net cash |
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| provided by operating activities: |
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Stock-based compensation expense |
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559 |
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383 |
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1,453 |
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981 |
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Depreciation and amortization |
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298 |
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299 |
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|
865 |
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|
810 |
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Deferred income taxes |
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(21 |
) |
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(53 |
) |
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(182 |
) |
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(117 |
) |
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(Gains) losses on investments in non affiliates, net |
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(20 |
) |
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- |
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(152 |
) |
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- |
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Other |
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10 |
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2 |
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25 |
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(2 |
) |
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| Changes in operating assets and liabilities, net of acquisitions: |
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Accounts receivable |
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(366 |
) |
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(463 |
) |
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(1,523 |
) |
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(667 |
) |
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Inventories |
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(118 |
) |
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(93 |
) |
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(400 |
) |
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(190 |
) |
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Prepaid expenses and other assets |
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(1,575 |
) |
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(443 |
) |
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(1,557 |
) |
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(409 |
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Accounts payable |
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195 |
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225 |
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474 |
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289 |
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Accrued and other current liabilities |
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(62 |
) |
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31 |
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70 |
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111 |
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Other long-term liabilities |
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155 |
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55 |
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253 |
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|
74 |
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| Net cash provided by operating activities |
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1,519 |
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1,279 |
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6,075 |
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3,755 |
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| Cash flows from investing activities: |
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Proceeds from maturities of marketable securities |
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2,545 |
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4,133 |
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7,780 |
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5,165 |
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Proceeds from sales of marketable securities |
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211 |
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243 |
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916 |
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502 |
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Purchases of marketable securities |
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(6,752 |
) |
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(4,554 |
) |
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(16,020 |
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(12,840 |
) |
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Purchases related to property and equipment and intangible assets |
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(221 |
) |
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(473 |
) |
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(703 |
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(845 |
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Acquisitions, net of cash acquired |
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(203 |
) |
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(1,353 |
) |
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(203 |
) |
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(8,524 |
) |
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Investments and other, net |
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(18 |
) |
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3 |
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(14 |
) |
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(4 |
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| Net cash used in investing activities |
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(4,438 |
) |
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(2,001 |
) |
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(8,244 |
) |
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(16,546 |
) |
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| Cash flows from financing activities: |
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Issuance of debt, net of issuance costs |
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(8 |
) |
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- |
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4,977 |
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4,971 |
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Proceeds related to employee stock plans |
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149 |
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|
96 |
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277 |
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|
190 |
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Repayment of debt |
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(1,000 |
) |
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- |
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(1,000 |
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- |
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Payments related to tax on restricted stock units |
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(440 |
) |
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(298 |
) |
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(1,282 |
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(716 |
) |
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Dividends paid |
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(100 |
) |
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(99 |
) |
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(298 |
) |
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(296 |
) |
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Principal payments on property and equipment |
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(22 |
) |
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- |
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(62 |
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- |
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Other |
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- |
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- |
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(2 |
) |
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(3 |
) |
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| Net cash provided by (used in) financing activities |
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(1,421 |
) |
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(301 |
) |
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2,610 |
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|
4,146 |
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| Change in cash and cash equivalents |
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(4,340 |
) |
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|
(1,023 |
) |
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|
441 |
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(8,645 |
) |
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| Cash and cash equivalents at beginning of period |
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5,628 |
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|
3,274 |
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|
847 |
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10,896 |
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| Cash and cash equivalents at end of period |
$ |
1,288 |
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$ |
2,251 |
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$ |
1,288 |
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$ |
2,251 |
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