NVIDIA Announces Financial Results for Fourth Quarter and Fiscal 2020



NVIDIA CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
        
        
  Three Months Ended  Twelve Months Ended
  January 26,  January 27,  January 26,  January 27,
  2020  2019  2020  2019
        
Cash flows from operating activities:       
Net income$950  $567  $2,796  $4,141 
Adjustments to reconcile net income to net cash provided by operating activities:      
Stock-based compensation expense 220   156   844   557 
Depreciation and amortization 106   78   381   262  
Deferred income taxes   23       (345 )     18       (315 )
Other   -       (10 )     5       (45 )
Changes in operating assets and liabilities:              
Accounts receivable   (202 )     794       (233 )     (149 )
Inventories   66       (156 )     597       (776 )
Prepaid expenses and other assets   22       13       77       (55 )
Accounts payable   104       (359 )     194       (135 )
Accrued and other current liabilities   157       109       54       256  
Other long-term liabilities   19       51       28       2  
Net cash provided by operating activities   1,465       898       4,761       3,743  
Cash flows from investing activities:              
Proceeds from maturities of marketable securities   -       964       4,744       7,232  
Proceeds from sales of marketable securities   2       314       3,365       428  
Purchases of marketable securities   -       (1,036 )     (1,461 )     (11,148 )
Purchases of property and equipment and intangible assets   (144 )     (203 )     (489 )     (600 )
Investments and other, net   (9 )     -       (14 )     (9 )
Net cash provided by (used in) investing activities   (151 )     39       6,145       (4,097 )
Cash flows from financing activities:              
Payments related to repurchases of common stock   -       (724 )     -       (1,579 )
Repayment of Convertible Notes   -       (3 )     -       (16 )
Dividends paid   (98 )     (98 )     (390 )     (371 )
Proceeds related to employee stock plans   2       3       149       137  
Payments related to tax on restricted stock units   (87 )     (50 )     (551 )     (1,032 )
Other   -       (4 )     -       (5 )
Net cash used in financing activities   (183 )     (876 )     (792 )     (2,866 )
Change in cash and cash equivalents   1,131       61       10,114       (3,220 )
Cash and cash equivalents at beginning of period   9,765       721       782       4,002  
Cash and cash equivalents at end of period $ 10,896     $ 782     $ 10,896     $ 782  
                 

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