NVIDIA Announces Financial Results for Second 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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Six Months Ended |
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August 1, |
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July 26, |
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August 1, |
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July 26, |
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| |
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2021 |
|
2020 |
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2021 |
|
2020 |
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| |
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| Cash flows from operating activities: |
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| Net income |
$ |
2,374 |
|
|
$ |
622 |
|
|
$ |
4,285 |
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|
$ |
1,539 |
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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 |
|
465 |
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|
374 |
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|
894 |
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|
598 |
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Depreciation and amortization |
|
286 |
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|
|
404 |
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|
567 |
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|
511 |
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| |
Deferred income taxes |
|
(185 |
) |
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|
(80 |
) |
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|
(161 |
) |
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|
(64 |
) |
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| |
(Gains) losses on investments in non affiliates, net |
|
1 |
|
|
|
2 |
|
|
|
(133 |
) |
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|
5 |
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Other |
|
18 |
|
|
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(10 |
) |
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|
16 |
|
|
|
(10 |
) |
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| Changes in operating assets and liabilities, net of acquisitions: |
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Accounts receivable |
|
(563 |
) |
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|
44 |
|
|
|
(1,157 |
) |
|
|
(205 |
) |
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| |
Inventories |
|
(123 |
) |
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|
54 |
|
|
|
(282 |
) |
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|
(97 |
) |
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| |
Prepaid expenses and other assets |
|
16 |
|
|
|
42 |
|
|
|
18 |
|
|
|
34 |
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Accounts payable |
|
209 |
|
|
|
(8 |
) |
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|
279 |
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|
|
63 |
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Accrued and other current liabilities |
|
133 |
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|
|
112 |
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|
132 |
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|
81 |
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Other long-term liabilities |
|
51 |
|
|
|
10 |
|
|
|
98 |
|
|
|
21 |
|
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| Net cash provided by operating activities |
|
2,682 |
|
|
|
1,566 |
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|
|
4,556 |
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|
|
2,476 |
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| Cash flows from investing activities: |
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|
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Proceeds from maturities of marketable securities |
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2,096 |
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|
1,032 |
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|
5,236 |
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|
1,032 |
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Proceeds from sales of marketable securities |
|
347 |
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|
258 |
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|
705 |
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|
259 |
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Purchases of marketable securities |
|
(4,798 |
) |
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|
(7,425 |
) |
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|
(9,268 |
) |
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(8,286 |
) |
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Purchases related to property and equipment and intangible assets |
|
|
(183 |
) |
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(217 |
) |
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|
(481 |
) |
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|
(372 |
) |
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Investments and other, net |
|
5 |
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- |
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|
3 |
|
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(7 |
) |
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Acquisitions, net of cash acquired |
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- |
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|
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(7,137 |
) |
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- |
|
|
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(7,171 |
) |
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| Net cash used in investing activities |
|
(2,533 |
) |
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|
(13,489 |
) |
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|
(3,805 |
) |
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(14,545 |
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| Cash flows from financing activities: |
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Issuance of debt, net of issuance costs |
|
4,985 |
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|
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(8 |
) |
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|
4,985 |
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|
|
4,971 |
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Proceeds related to employee stock plans |
|
2 |
|
|
|
6 |
|
|
|
128 |
|
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|
94 |
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Payments related to tax on restricted stock units |
|
(365 |
) |
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|
(196 |
) |
|
|
(843 |
) |
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|
(418 |
) |
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| |
Dividends paid |
|
(100 |
) |
|
|
(99 |
) |
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|
(198 |
) |
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|
(197 |
) |
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| |
Principal payments on property and equipment |
|
(21 |
) |
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|
- |
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(40 |
) |
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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 |
|
4,501 |
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|
|
(297 |
) |
|
|
4,030 |
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|
|
4,447 |
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| Change in cash and cash equivalents |
|
4,650 |
|
|
|
(12,220 |
) |
|
|
4,781 |
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|
|
(7,622 |
) |
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| Cash and cash equivalents at beginning of period |
|
978 |
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|
|
15,494 |
|
|
|
847 |
|
|
|
10,896 |
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| Cash and cash equivalents at end of period |
$ |
5,628 |
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|
$ |
3,274 |
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$ |
5,628 |
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|
$ |
3,274 |
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