NVIDIA 2003 Annual Report Download - page 56

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NVIDIA CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The amortized cost and estimated fair value of cash equivalents and marketable securities classified as
available-for-sale at January 26, 2003 and at January 27, 2002 by expected maturity are shown below.
January 26, 2003 January 27, 2002
Amortized
Cost
Estimated
Fair Value
Amortized
Cost
Estimated
Fair Value
(in thousands)
Less than one year ................................... $ 592,025 $ 593,714 $415,910 $415,969
Due in 1 – 5 years ................................... 424,397 428,974 382,100 382,566
Total ......................................... $1,016,422 $1,022,688 $798,010 $798,535
Note 4—Discontinued Use of Property
The Company moved into its new headquarters in June 2001 and was still obligated to pay rent for a portion
of its previous office space. Since relocating, the Company has been unable to secure a subtenant for its previous
office space due to the decrease in demand for commercial rental space as a result of the declining economy. The
Company recorded a loss of approximately $3.7 million during fiscal 2002 for the remaining costs related to the
preexisting lease, including rental payments, capitalized leasehold improvements, and furniture and fixtures, as
the leased property or improvements have no substantive future use or benefit. In December 2001, we filed a
complaint against Extreme Networks Inc., the sublessor of the property, seeking payment of lease payments and
other property charges for the period of July 2001 through December 2001 and seeking a declaration that the
Company is not liable for any future payments under the lease. No trial date has been set and there is no
assurance that the Company will be successful in this matter.
Note 5—Balance Sheet Components
Certain balance sheet components are as follows:
January 26,
2003
January 27,
2002
(in thousands)
Inventories:
Raw materials ........................................... $ 17,510 $ 13,367
Work in-process ......................................... 13,179 77,130
Finished goods .......................................... 114,357 123,380
Total inventories ..................................... $145,046 $213,877
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