NVIDIA 2004 Annual Report Download - page 37

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Balances, January 27, 2002 149,553,130 150 456,621 −− 108 306,940 763,819 177,032
Issuance of common stock from
stock plans 4,421,823 4 25,483 −− −− −− 25,487
Stock option exchange offer 3,815,069 4 39,902 −− −− −− 39,906
Tax benefit from stock plans −− −− 9,180 −− −− −− 9,180
Deferred compensation −− −− −− (156) −− −− (156)
Unrealized gain −− −− −− −− 5,742 −− 5,742 5,742
Tax effect of unrealized gain −− −− −− −− (2,297) −− (2,297) (2,297)
Cumulative translation
adjustments −− −− −− −− 207 −− 207 207
Net income −− −− −− −− −− 90,799 90,799 90,799
Balances, January 26, 2003 157,790,022 158 531,186 (156) 3,760 397,739 932,687 94,451
Issuance of common stock from
stock plans 6,355,765 6 37,667 −− −− −− 37,673
Tax benefit from stock plans −− −− 8,488 −− −− −− 8,488
Deferred compensation −− −− 6,140 (5,984) −− −− 156
Amortization of deferred
compensation −− −− −− 672 −− −− 672
Unrealized loss, net of related tax
effect −− −− −− −− (4,850) −− (4,850) (4,850)
Tax effect of unrealized loss 1,940 −− 1,940 1,940
Reclassification adjustment for
net gains included in net income −− −− −− −− −− −− −− (3,159)
Tax effect of reclassification
adjustment for net gains included
in net income −− −− −− −− −− −− −− 632
Net income −− −− −− −− −− 74,419 74,419 74,419
Balances, January 25, 2004 164,145,787 $164 $583,481 $(5,468) $850 $472,158 $1,051,185 $68,982
See accompanying notes to consolidated financial statements.
41
NVIDIA CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Year Ended Year Ended Year Ended
January 25, January 26, January 27,
2004 2003 2002
Cash flows from operating activities:
Net income $ 74,419 $ 90,799 $ 176,924
Adjustments to reconcile net income to net cash provided by operating
activities:
In−process research and development 3,500 −− −−
Depreciation and amortization 82,016 58,216 43,491
Write−off of convertible debenture issuance costs 5,485 −− −−
Deferred income taxes 55,135 29,768 (51,914)
Stock−based compensation −− (156) 364
Amortization of deferred compensation 672 −− 6
Issuance of common stock in exchange for stock options −− 39,906 −−
Bad debt expense 731 1,917 1,446
Tax benefit from employee stock plans 8,488 9,180 88,932
Changes in operating assets and liabilities:
Accounts receivable (41,356) (9,070) (43,806)
Inventories (85,126) 68,831 (123,497)
Prepaid income taxes −− 38,016 (38,016)
Prepaid expenses and other current assets (2,698) (4,315) 277
Deposits and other assets (3,482) 63 (13,957)
Accounts payable 43,506 (72,890) 141,717
Accrued liabilities (44,746) 26,564 108,646