NVIDIA 2013 Annual Report Download - page 211

67
NVIDIA CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Year Ended
January 26,
2014 January 27, 2013 January 29, 2012
Cash flows from operating activities:
Net income ........................................................................................................... $ 439,990 $ 562,536 $ 581,090
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation expense .......................................................... 136,295 136,662 136,354
Depreciation and amortization .................................................................. 239,148 226,235 204,205
Amortization of debt discount................................................................... 4,600 — —
Gain on sale of long-lived assets and investments.................................... (10,471) — —
Deferred income taxes............................................................................... 15,430 31,860 19,056
Tax benefit from stock-based compensation............................................. (25,801) (68,710) (52,793)
Other.......................................................................................................... 23,718 47,911 19,095
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable................................................................................... 28,852 (118,940) 26,236
Inventories................................................................................................. 24,651 (78,949) 18,884
Prepaid expenses and other current assets................................................. 6,729 (20,290) (14,803)
Deposits and other assets........................................................................... 4,823 8,567 (70,694)
Accounts payable....................................................................................... (20,382) 10,885 35,708
Accrued liabilities and other long-term liabilities..................................... (32,436) 86,405 6,818
Net cash provided by operating activities............................................................ 835,146 824,172 909,156
Cash flows from investing activities:
Purchases of marketable securities............................................................ (3,065,404) (2,378,445) (1,964,898)
Proceeds from sales of marketable securities............................................ 1,926,817 854,993 656,171
Proceeds from maturities of marketable securities.................................... 585,150 962,417 654,572
Purchases of property and equipment and intangible assets ..................... (255,186) (183,309) (138,735)
Proceeds from sale of long-lived assets and investments.......................... 24,781 — —
Acquisition of businesses, net of cash and cash equivalents..................... (17,145) — (348,884)
Other.......................................................................................................... (4,950) 352 (1,590)
Net cash used in investing activities .................................................................... (805,937) (743,992) (1,143,364)
Cash flows from financing activities:
Proceeds from issuance of convertible notes, net...................................... 1,477,500 — —
Purchase of convertible note hedges ......................................................... (167,100) — —
Proceeds from the sale of common stock warrants ................................... 59,100 — —
Proceeds from issuance of common stock under employee stock plans... 70,170 64,935 195,857
Payments related to repurchases of common stock................................... (887,304) (100,000) —
Dividends paid........................................................................................... (181,336) (46,866) —
Tax benefit from stock-based compensation............................................. 25,801 68,710 52,793
Payments under capital lease obligations.................................................. (2,239) (2,049) (1,608)
Other.......................................................................................................... (5,000) — (10,319)
Net cash (used in) provided by financing activities............................................. 389,592 (15,270) 236,723
Change in cash and cash equivalents ................................................................... 418,801 64,910 2,515
Cash and cash equivalents at beginning of period ............................................... 732,786 667,876 665,361
Cash and cash equivalents at end of period ......................................................... $ 1,151,587 $ 732,786 $ 667,876