NVIDIA Announces Financial Results for Second Quarter Fiscal 2025

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


		Three Months Ended						Six Months Ended
		July 28,			July 30,			July 28,			July 30,
			2024			2023			2024			2023

Cash flows from operating activities:
Net income		$	16,599		$	6,188		$	31,480		$	8,232
Adjustments to reconcile net income to net cash provided by operating activities:
	Stock-based compensation expense		1,154			842			2,164			1,576
	Depreciation and amortization		433			365			843			749
	Gains on investments in non-affiliated entities and publicly-held equity securities, net		(193	)		(60	)		(264	)		(45	)
	Deferred income taxes		(1,699	)		(746	)		(3,276	)		(1,881	)
	Other		(144	)		(69	)		(288	)		(102	)
Changes in operating assets and liabilities, net of acquisitions:
	Accounts receivable		(1,767	)		(2,986	)		(4,133	)		(3,239	)
	Inventories		(803	)		296			(1,380	)		861
	Prepaid expenses and other assets		714			(376	)		(12	)		(592	)
	Accounts payable		823			777			801			789
	Accrued liabilities and other current liabilities		(888	)		1,986			3,314			2,675
	Other long-term liabilities		260			131			584			236
Net cash provided by operating activities			14,489			6,348			29,833			9,259
Cash flows from investing activities:
	Proceeds from maturities of marketable securities		4,094			2,598			8,098			5,111
	Proceeds from sales of marketable securities		15			-			164			-
	Purchases of marketable securities		(5,744	)		(2,542	)		(15,047	)		(5,343	)
	Purchase related to property and equipment and intangible assets		(977	)		(289	)		(1,346	)		(537	)
	Acquisitions, net of cash acquired		(279	)		-			(317	)		(83	)
	Purchases of investments in non-affiliated entities		(344	)		(235	)		(534	)		(456	)
	Proceeds from sales of investments in non-affiliated entities		50			-			105			-
	Other		-			21			-			21
Net cash used in investing activities			(3,185	)		(447	)		(8,877	)		(1,287	)
Cash flows from financing activities:
	Proceeds related to employee stock plans		-			1			285			247
	Payments related to repurchases of common stock		(7,158	)		(3,067	)		(14,898	)		(3,067	)
	Repayment of debt		(1,250	)		(1,250	)		(1,250	)		(1,250	)
	Payments related to tax on restricted stock units		(1,637	)		(672	)		(3,389	)		(1,179	)
	Dividends paid		(246	)		(99	)		(344	)		(199	)
	Principal payments on property and equipment and intangible assets		(29	)		(11	)		(69	)		(31	)
Net cash used in financing activities			(10,320	)		(5,098	)		(19,665	)		(5,479	)
Change in cash, cash equivalents, and restricted cash			984			803			1,291			2,493
Cash, cash equivalents, and restricted cash at beginning of period			7,587			5,079			7,280			3,389
Cash, cash equivalents, and restricted cash at end of period		$	8,571		$	5,882		$	8,571		$	5,882

Reconciliation of cash, cash equivalents, and restricted cash to the Condensed Consolidated Balance Sheet:
	Cash and cash equivalents	$	8,563		$	5,783		$	8,563		$	5,783
	Restricted cash, included in Prepaid expenses and other current assets		8			99			8			99
Total cash, cash equivalents, and restricted cash		$	8,571		$	5,882		$	8,571		$	5,882

Supplemental disclosures of cash flow information:
Cash paid for income taxes, net		$	7,208		$	227		$	7,449		$	328

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