NVIDIA 2004 Annual Report Download - page 34

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Consolidated Statements of Stockholders’ Equity and Comprehensive Income for the
years ended January 25, 2004, January 26, 2003 and January 27, 2002 41
Consolidated Statements of Cash Flows for the years ended January 25, 2004, January
26, 2003 and January 27, 2002 42
Notes to Consolidated Financial Statements 43
(a) 2. Financial Statement Schedules
Schedule II Valuation and Qualifying Accounts 66
(a) 3. Exhibits
The exhibits listed in the accompanying index to exhibits are filed or incorporated by
reference as a part of this annual report.
(b) 4. Reports on Form 8−K
(i) On November 6, 2003, NVIDIA filed a report on Form 8−K, dated November 6, 2003,
furnishing under "Item 12. Disclosure of Results of Operations and Financial Condition"
its financial information for the three and nine months ended October 26, 2003.
37
INDEPENDENT AUDITORS’ REPORT
Stockholders and Board of Directors
NVIDIA Corporation:
We have audited the consolidated financial statements of NVIDIA Corporation and subsidiaries (the "Company") as listed in the
accompanying index. In connection with our audits of the consolidated financial statements, we have also audited the financial
statement schedule as listed in the accompanying index. These consolidated financial statements and financial statement schedule are
the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial
statements and financial statement schedule based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards
require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as
evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of
NVIDIA Corporation and subsidiaries as of January 25, 2004 and January 26, 2003 and the results of their operations and their cash
flows for each of the years in the three−year period ended January 25, 2004, in conformity with accounting principles generally
accepted in the United States of America. Also in our opinion, the related financial statement schedule, when considered in relation to
the consolidated financial statements taken as a whole, presents fairly, in all material respects, the information set forth therein.
As discussed in Note 1 of the accompanying notes to consolidated financial statements, effective January 28, 2002, the Company
adopted the provisions of Statement of Financial Accounting Standards No. 142, Goodwill and Other Intangible Assets.
/s/ KPMG LLP
Mountain View, California
February 12, 2004
38
NVIDIA CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands, except share and per share data)
January 25, January 26,
2004 2003
ASSETS