NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2021
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NVIDIA CORPORATION
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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
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Three Months Ended
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Twelve Months Ended
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January 31, |
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January 26, | |
January 31, |
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January 26, | | | | | |
2021 | |
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2020 | | | |
2021 | |
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2020 | | | | | |
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| | Cash flows from operating activities: | | | | | | | | | Net income | $ | 1,457 | | | $ | 950 | | | $ | 4,332 | | | $ | 2,796 | | | Adjustments to reconcile net income to net cash | | | | | | | | | provided by operating activities: | | | | | | | | | | Depreciation and amortization | | 287 | | | | 106 | | | | 1,098 | | | | 381 | | | | Stock-based compensation expense | | 417 | | | | 220 | | | | 1,397 | | | | 844 | | | | Deferred income taxes | | (164 | ) | | | 23 | | | | (282 | ) | | | 18 | | | | Other | | (17 | ) | | | - | | | | (20 | ) | | | 5 | | | Changes in operating assets and liabilities, net of acquisitions: | | | | | | | | | | Accounts receivable | | 117 | | | | (202 | ) | | | (550 | ) | | | (233 | ) | | | Inventories | | (334 | ) | | | 66 | | | | (524 | ) | | | 597 | | | | Prepaid expenses and other assets | | 15 | | | | 22 | | | | (394 | ) | | | 77 | | | | Accounts payable | | 75 | | | | 104 | | | | 363 | | | | 194 | | | | Accrued and other current liabilities | | 126 | | | | 157 | | | | 239 | | | | 54 | | | | Other long-term liabilities | | 88 | | | | 19 | | | | 163 | | | | 28 | | | Net cash provided by operating activities | | 2,067 | | | | 1,465 | | | | 5,822 | | | | 4,761 | | | Cash flows from investing activities: | | | | | | | | | | Proceeds from maturities of marketable securities | | 3,627 | | | | - | | | | 8,792 | | | | 4,744 | | | | Proceeds from sales of marketable securities | | 25 | | | | 2 | | | | 527 | | | | 3,365 | | | | Purchases of marketable securities | | (6,468 | ) | | | - | | | | (19,308 | ) | | | (1,461 | ) | | | Acquisitions, net of cash acquired | | - | | | | - | | | | (8,524 | ) | | | (4 | ) | | | Purchases related to property and equipment and intangible assets | | (283 | ) | | | (144 | ) | | | (1,128 | ) | | | (489 | ) | | | Investments and other, net | | (30 | ) | | | (9 | ) | | | (34 | ) | | | (10 | ) | | Net cash provided by (used in) investing activities | | (3,129 | ) | | | (151 | ) | | | (19,675 | ) | | | 6,145 | | | Cash flows from financing activities: | | | | | | | | | | Proceeds related to employee stock plans | | 4 | | | | 2 | | | | 194 | | | | 149 | | | | Payments related to tax on restricted stock units | | (225 | ) | | | (87 | ) | | | (942 | ) | | | (551 | ) | | | Dividends paid | | (99 | ) | | | (98 | ) | | | (395 | ) | | | (390 | ) | | | Issuance of debt, net of issuance costs | | (3 | ) | | | - | | | | 4,968 | | | | - | | | | Principal payments on property and equipment | | (17 | ) | | | - | | | | (17 | ) | | | - | | | | Other | | (2 | ) | | | - | | | | (4 | ) | | | - | | | Net cash provided by (used in) financing activities | | (342 | ) | | | (183 | ) | | | 3,804 | | | | (792 | ) | | Change in cash and cash equivalents | | (1,404 | ) | | | 1,131 | | | | (10,049 | ) | | | 10,114 | | | Cash and cash equivalents at beginning of period | | 2,251 | | | | 9,765 | | | | 10,896 | | | | 782 | | | Cash and cash equivalents at end of period | $ | 847 | | | $ | 10,896 | | | $ | 847 | | | $ | 10,896 | | | | | | | | | | | | |
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