NVIDIA Announces Financial Results for Fourth Quarter and Fiscal

NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2023

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


		Three Months Ended						Twelve Months Ended
		January 29,			January 30,			January 29			January 30,
			2023			2022			2023			2022

Cash flows from operating activities:
Net income		$	1,414		$	3,003		$	4,368		$	9,752
Adjustments to reconcile net income to net cash
provided by operating activities:
	Stock based compensation expense		738			551			2,709		$	2,004
	Depreciation and amortization		426			309			1,544			1,174
	(Gain) losses on investments in non affiliates, net		10			53			45			(100	)
	Deferred income taxes		(647	)		(225	)		(2,164	)		(406	)
	Acquisition termination cost		-			-			1,353			-
	Other		20			21			(7	)		47
Changes in operating assets and liabilities, net of acquisitions:
	Accounts receivable		1,081			(692	)		822			(2,215	)
	Inventories		(706	)		(374	)		(2,554	)		(774	)
	Prepaid expenses and other assets		(210	)		(158	)		(1,517	)		(1,715	)
	Accounts payable		(193	)		183			(551	)		568
	Accrued liabilities and other current liabilities		166			423			1,341			581
	Other long-term liabilities		150			(61	)		252			192
Net cash provided by operating activities			2,249			3,033			5,641			9,108
Cash flows from investing activities:
	Proceeds from maturities of marketable securities		2,633			7,417			19,425			15,197
	Proceeds from sales of marketable securities		-			107			1,806			1,023
	Purchases of marketable securities		(2,133	)		(8,767	)		(11,897	)		(24,787	)
	Purchase related to property and equipment and intangible assets		(509	)		(273	)		(1,833	)		(976	)
	Acquisitions, net of cash acquired		-			(60	)		(49	)		(263	)
	Investments and other, net		5			(11	)		(77	)		(24	)
Net cash provided by (used in) investing activities			(4	)		(1,587	)		7,375			(9,830	)
Cash flows from financing activities:
	Proceeds related to employee stock plans		5			4			355			281
	Payments related to repurchases of common stock		(1,212	)		-			(10,039	)		-
	Payments related to tax on restricted stock units		(344	)		(622	)		(1,475	)		(1,904	)
	Dividends paid		(98	)		(100	)		(398	)		(399	)
	Principal payments on property and equipment and intangible assets		(4	)		(21	)		(58	)		(83	)
	Issuance of debt, net of issuance costs		-			-			-			4,977
	Repayment of debt		-			-			-			(1,000	)
	Other		(3	)		(5	)		(2	)		(7	)
Net cash provided by (used in) financing activities			(1,656	)		(744	)		(11,617	)		1,865
Change in cash and cash equivalents			589			702			1,399			1,143
Cash and cash equivalents at beginning of period			2,800			1,288			1,990			847
Cash and cash equivalents at end of period		$	3,389		$	1,990		$	3,389		$	1,990

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