NVIDIA 2007 Annual Report Download - page 91

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NVIDIA CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
Depreciation expense for fiscal years 2007, 2006 and 2005 was $88.0 million, $76.4 million, and $71.3 million, respectively.
Assets recorded under capital leases included in property and equipment were $17.1 million as of January 28, 2007 and January 29,
2006. Related accumulated amortization was $17.1 million as of January 28, 2007 and January 29, 2006. Amortization expense for
fiscal 2006 and 2005 related to capital leases was $1.2 million, and $3.8 million, respectively. As of January 28, 2007, all assets
recorded under capital leases have been fully amortized.
January 28,
2007 January 29,
2006
(In thousands)
Accrued Liabilities:
Accrued customer programs $ 181,182 $ 90,056
Deferred revenue 1,180 217
Customer advances 239 1,556
Taxes payable 37,903 58,355
Accrued payroll and related expenses 81,352 53,080
Deferred rent 12,551 11,879
Accrued legal settlement 30,600 30,600
Other 21,725 13,521
Total accrued liabilities $ 366,732 $ 259,264
The increase in accrued customer programs as of January 28, 2007 when compared to January 29, 2006 primarily relates to an
increase in rebates payable to OEMs as a result of our increased sales to OEMs during fiscal 2007 when compared to fiscal 2006. The
increase in accrued payroll and related expenses as of January 28, 2007 when compared to January 29, 2006 primarily relates to the
significant increase in the number of employees during fiscal 2007.
January 28,
2007 January 29,
2006
(In thousands)
Other Long−term Liabilities:
Asset retirement obligation $ 6,362 $ 6,440
Accrued payroll taxes related to stock options 8,995 9,412
Other long−term liabilities 14,180 4,184
Total other long−term liabilities $ 29,537 $ 20,036
82
Source: NVIDIA CORP, 10−K, March 16, 2007