NVIDIA Announces Financial Results for Third Quarter Fiscal 2021
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NVIDIA CORPORATION | |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | | (In millions) | | (Unaudited) | |
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Three Months Ended | |
Nine Months Ended | | |
October 25, |
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October 27, | |
October 25, |
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October 27, | | | |
2020 | |
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2019 | | | |
2020 | |
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2019 | | | |
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| | Cash flows from operating activities: | | | | | | | | | Net income | $ | 1,336 | | | $ | 899 | | | $ | 2,875 | | | $ | 1,845 | | | Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | | Depreciation and amortization | | 299 | | | | 92 | | | | 810 | | | | 275 | | | Stock-based compensation expense | | 383 | | | | 223 | | | | 981 | | | | 624 | | | Deferred income taxes | | (53 | ) | | | 22 | | | | (117 | ) | | | (5 | ) | | Other | | 2 | | | | 3 | | | | (2 | ) | | | 5 | | | Changes in operating assets and liabilities, net of acquisitions: | | | | | | | | | Accounts receivable | | (463 | ) | | | 106 | | | | (667 | ) | | | (32 | ) | | Inventories | | (93 | ) | | | 152 | | | | (190 | ) | | | 531 | | | Prepaid expenses and other assets | | (443 | ) | | | 19 | | | | (409 | ) | | | 55 | | | Accounts payable | | 225 | | | | 135 | | | | 289 | | | | 91 | | | Accrued and other current liabilities | | 31 | | | | (23 | ) | | | 111 | | | | (103 | ) | | Other long-term liabilities | | 55 | | | | 12 | | | | 74 | | | | 10 | | | Net cash provided by operating activities | | 1,279 | | | | 1,640 | | | | 3,755 | | | | 3,296 | | | Cash flows from investing activities: | | | | | | | | | Proceeds from maturities of marketable securities | | 4,133 | | | | 1,153 | | | | 5,165 | | | | 4,744 | | | Proceeds from sales of marketable securities | | 243 | | | | 211 | | | | 502 | | | | 3,363 | | | Purchases of marketable securities | | (4,554 | ) | | | - | | | | (12,840 | ) | | | (1,461 | ) | | Acquisitions, net of cash acquired | | (1,353 | ) | | | - | | | | (8,524 | ) | | | - | | | Purchases related to property and equipment and intangible assets | | (473 | ) | | | (104 | ) | | | (845 | ) | | | (344 | ) | | Investments and other, net | | 3 | | | | (3 | ) | | | (4 | ) | | | (6 | ) | | Net cash provided by (used in) investing activities | | (2,001 | ) | | | 1,257 | | | | (16,546 | ) | | | 6,296 | | | Cash flows from financing activities: | | | | | | | | | Proceeds related to employee stock plans | | 96 | | | | 63 | | | | 190 | | | | 146 | | | Payments related to tax on restricted stock units | | (298 | ) | | | (203 | ) | | | (716 | ) | | | (463 | ) | | Dividends paid | | (99 | ) | | | (97 | ) | | | (296 | ) | | | (292 | ) | | Issuance of debt, net of issuance costs | | - | | | | - | | | | 4,971 | | | | - | | | Other | | - | | | | - | | | | (3 | ) | | | - | | | Net cash provided by (used in) financing activities | | (301 | ) | | | (237 | ) | | | 4,146 | | | | (609 | ) | | Change in cash and cash equivalents | | (1,023 | ) | | | 2,660 | | | | (8,645 | ) | | | 8,983 | | | Cash and cash equivalents at beginning of period | | 3,274 | | | | 7,105 | | | | 10,896 | | | | 782 | | | Cash and cash equivalents at end of period | $ | 2,251 | | | $ | 9,765 | | | $ | 2,251 | | | $ | 9,765 | | | | | | | | | | | | | | | | | | |
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