NVIDIA 2010 Annual Report Download - page 67

Investing activities
Investing activities have consisted primarily of purchases and sales of marketable securities, acquisition of businesses and
purchases of property and equipment, which include leasehold improvements for our facilities and intangible assets. Investing
activities used cash of $519.3 million, $209.4 million and $761.3 million during fiscal years 2010, 2009 and 2008, respectively.
Investing activities for fiscal year 2010 used cash of $441.5 million towards the purchase of marketable securities, net of proceeds
from sales of marketable securities. Additionally, we used $77.6 million towards capital expenditures in fiscal year 2010. Capital
expenditures included purchase of new research and development equipment, testing equipment to support our increased production
requirements, technology licenses, software, intangible assets and leasehold improvements at our facilities in various international
locations.
Investing activities for fiscal year 2009 used cash of $27.9 million in connection with our acquisition of Ageia and $407.7 million
towards capital expenditures, as we built additional facilities to accommodate our growing employee headcount, new research and
development equipment, testing equipment to support our increased production requirements, technology licenses, software,
intangible assets and leasehold improvements at our facilities in various international locations. Investing activities for capital
expenditures in fiscal year 2009 also included payment of approximately $183.8 million for purchase of a property in Santa Clara,
California, that includes approximately 25 acres of land and ten commercial buildings. Our original plans for the purchased property
included constructing a new campus on the site. We are currently re-evaluating those plans. This cash outflow is offset by $226.7
million of cash from the net proceeds from sales of marketable securities.
Investing activities for fiscal year 2008 used cash of $496.4 million towards the net purchases of marketable securities, resulting
from the need to invest the additional amounts of cash we received from operating activities, and $75.5 million for our acquisition of
Mental Images. Investing activities for fiscal year 2008 also included $187.7 million of capital expenditures. Capital expenditures
included purchase of property in anticipation of building additional facilities to accommodate our growing employee headcount, new
research and development equipment, testing equipment to support our increased production requirements, technology licenses,
software, intangible assets and leasehold improvements at our facilities in various international locations.
Financing activities
Financing activities provided cash of $61.1 million during fiscal year 2010, and used cash of $349.3 million and $326.3 million
during fiscal years 2009 and 2008, respectively.
Net cash provided by financing activities in fiscal year 2010 was primarily due to cash proceeds of $138.0 million from common
stock issued under our employee stock plans, offset by $78.1 million used for the purchase of outstanding stock options related to a
tender offer that closed in March 2009.
Net cash used by financing activities in fiscal year 2009 was primarily due to $423.6 million used in our stock repurchase
program, offset by cash proceeds of $73.5 million from common stock issued under our employee stock plans.
Net cash used by financing activities in fiscal year 2008 was primarily due to $552.5 million used in our stock repurchase
program, offset by cash proceeds of $226.0 million from common stock issued under our employee stock plans.
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Source: NVIDIA CORP, 10-K, March 18, 2010 Powered by Morningstar® Document Research℠