Cover
Cover - shares shares in Millions | 6 Months Ended | |
Jul. 31, 2022 | Aug. 19, 2022 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jul. 31, 2022 | |
Document Transition Report | false | |
Entity File Number | 0-23985 | |
Entity Registrant Name | NVIDIA CORP | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 94-3177549 | |
Entity Address, Address Line One | 2788 San Tomas Expressway | |
Entity Address, City or Town | Santa Clara | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 95051 | |
City Area Code | 408 | |
Local Phone Number | 486-2000 | |
Title of 12(b) Security | Common Stock, $0.001 par value per share | |
Trading Symbol | NVDA | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 2,490 | |
Entity Central Index Key | 0001045810 | |
Current Fiscal Year End Date | --01-29 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2022 | Aug. 01, 2021 | Jul. 31, 2022 | Aug. 01, 2021 | |
Income Statement [Abstract] | ||||
Revenue | $ 6,704 | $ 6,507 | $ 14,992 | $ 12,168 |
Cost of revenue | 3,789 | 2,292 | 6,646 | 4,324 |
Gross profit | 2,915 | 4,215 | 8,346 | 7,844 |
Operating expenses | ||||
Research and development | 1,824 | 1,245 | 3,443 | 2,398 |
Sales, general and administrative | 592 | 526 | 1,183 | 1,046 |
Acquisition termination cost | 0 | 0 | 1,353 | 0 |
Total operating expenses | 2,416 | 1,771 | 5,979 | 3,444 |
Income from operations | 499 | 2,444 | 2,367 | 4,400 |
Interest income | 46 | 6 | 64 | 13 |
Interest expense | (65) | (60) | (132) | (113) |
Other, net | (5) | 4 | (19) | 138 |
Other income (expense), net | (24) | (50) | (87) | 38 |
Income before income tax | 475 | 2,394 | 2,280 | 4,438 |
Income tax expense (benefit) | (181) | 20 | 6 | 153 |
Net income | $ 656 | $ 2,374 | $ 2,274 | $ 4,285 |
Net income per share: | ||||
Basic (in dollars per share) | $ 0.26 | $ 0.95 | $ 0.91 | $ 1.72 |
Diluted (in dollars per share) | $ 0.26 | $ 0.94 | $ 0.90 | $ 1.69 |
Weighted average shares used in per share computation: | ||||
Basic (in shares) | 2,495 | 2,493 | 2,500 | 2,489 |
Diluted (in shares) | 2,516 | 2,532 | 2,526 | 2,529 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2022 | Aug. 01, 2021 | Jul. 31, 2022 | Aug. 01, 2021 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 656 | $ 2,374 | $ 2,274 | $ 4,285 |
Available-for-sale securities: | ||||
Net change in unrealized loss | (12) | 0 | (35) | (1) |
Reclassification adjustments for net realized gain included in net income | 1 | 0 | 1 | 0 |
Net change in unrealized loss | (11) | 0 | (34) | (1) |
Cash flow hedges: | ||||
Net unrealized loss | (2) | (14) | (30) | (27) |
Reclassification adjustments for net realized gain (loss) included in net income | (13) | 8 | (15) | 17 |
Net change in unrealized loss | (15) | (6) | (45) | (10) |
Other comprehensive loss, net of tax | (26) | (6) | (79) | (11) |
Total comprehensive income | $ 630 | $ 2,368 | $ 2,195 | $ 4,274 |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions | Jul. 31, 2022 | Jan. 30, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 3,013 | $ 1,990 |
Marketable securities | 14,024 | 19,218 |
Accounts receivable, net | 5,317 | 4,650 |
Inventories | 3,889 | 2,605 |
Prepaid expenses and other current assets | 1,175 | 366 |
Total current assets | 27,418 | 28,829 |
Property and equipment, net | 3,233 | 2,778 |
Operating lease assets | 852 | 829 |
Goodwill | 4,372 | 4,349 |
Intangible assets, net | 2,036 | 2,339 |
Deferred income tax assets | 2,225 | 1,222 |
Other assets | 3,340 | 3,841 |
Total assets | 43,476 | 44,187 |
Current liabilities: | ||
Accounts payable | 2,421 | 1,783 |
Accrued and other current liabilities | 3,903 | 2,552 |
Short-term debt | 1,249 | 0 |
Total current liabilities | 7,573 | 4,335 |
Long-term debt | 9,700 | 10,946 |
Long-term operating lease liabilities | 743 | 741 |
Other long-term liabilities | 1,609 | 1,553 |
Total liabilities | 19,625 | 17,575 |
Commitments and contingencies - see Note 13 | ||
Shareholders’ equity: | ||
Preferred stock | 0 | 0 |
Common stock | 2 | 3 |
Additional paid-in capital | 10,968 | 10,385 |
Accumulated other comprehensive loss | (90) | (11) |
Retained earnings | 12,971 | 16,235 |
Total shareholders' equity | 23,851 | 26,612 |
Total liabilities and shareholders' equity | $ 43,476 | $ 44,187 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions | Total | Common Stock Outstanding | Additional Paid-in Capital | Treasury Stock | Accumulated Other Comprehensive Income (Loss) | Retained Earnings |
Beginning balance, common stock outstanding (in shares) at Jan. 31, 2021 | 2,479 | |||||
Beginning balances, shareholders' equity at Jan. 31, 2021 | $ 16,893 | $ 3 | $ 8,719 | $ (10,756) | $ 19 | $ 18,908 |
Increase (Decrease) in Shareholders' Equity | ||||||
Net income | 4,285 | 4,285 | ||||
Other comprehensive loss | (11) | (11) | ||||
Issuance of common stock from stock plans (in shares) | 22 | |||||
Issuance of common stock from stock plans | 128 | 128 | ||||
Tax withholding related to vesting of restricted stock units (in shares) | (5) | |||||
Tax withholding related to vesting of restricted stock units | (848) | (848) | ||||
Cash dividends declared and paid | (198) | (198) | ||||
Stock-based compensation | 898 | 898 | ||||
Ending balance, common stock outstanding (in shares) at Aug. 01, 2021 | 2,496 | |||||
Ending balances, shareholders' equity at Aug. 01, 2021 | 21,147 | $ 3 | 9,745 | (11,604) | 8 | 22,995 |
Beginning balance, common stock outstanding (in shares) at May. 02, 2021 | 2,491 | |||||
Beginning balances, shareholders' equity at May. 02, 2021 | 18,774 | $ 3 | 9,278 | (11,242) | 14 | 20,721 |
Increase (Decrease) in Shareholders' Equity | ||||||
Net income | 2,374 | 2,374 | ||||
Other comprehensive loss | (6) | (6) | ||||
Issuance of common stock from stock plans (in shares) | 7 | |||||
Issuance of common stock from stock plans | 2 | 2 | ||||
Tax withholding related to vesting of restricted stock units (in shares) | (2) | |||||
Tax withholding related to vesting of restricted stock units | (362) | (362) | ||||
Cash dividends declared and paid | (100) | (100) | ||||
Stock-based compensation | 465 | 465 | ||||
Ending balance, common stock outstanding (in shares) at Aug. 01, 2021 | 2,496 | |||||
Ending balances, shareholders' equity at Aug. 01, 2021 | 21,147 | $ 3 | 9,745 | (11,604) | 8 | 22,995 |
Beginning balance, common stock outstanding (in shares) at Jan. 30, 2022 | 2,506 | |||||
Beginning balances, shareholders' equity at Jan. 30, 2022 | 26,612 | $ 3 | 10,385 | 0 | (11) | 16,235 |
Increase (Decrease) in Shareholders' Equity | ||||||
Net income | 2,274 | 2,274 | ||||
Other comprehensive loss | (79) | (79) | ||||
Issuance of common stock from stock plans (in shares) | 15 | |||||
Issuance of common stock from stock plans | 205 | 205 | ||||
Tax withholding related to vesting of restricted stock units (in shares) | (4) | |||||
Tax withholding related to vesting of restricted stock units | $ (837) | (837) | ||||
Shares repurchased (in shares) | (28) | (28) | ||||
Shares repurchased | $ (5,341) | $ (1) | (2) | (5,338) | ||
Cash dividends declared and paid | (200) | (200) | ||||
Stock-based compensation | 1,217 | 1,217 | ||||
Ending balance, common stock outstanding (in shares) at Jul. 31, 2022 | 2,489 | |||||
Ending balances, shareholders' equity at Jul. 31, 2022 | 23,851 | $ 2 | 10,968 | 0 | (90) | 12,971 |
Beginning balance, common stock outstanding (in shares) at May. 01, 2022 | 2,504 | |||||
Beginning balances, shareholders' equity at May. 01, 2022 | 26,320 | $ 3 | 10,623 | 0 | (64) | 15,758 |
Increase (Decrease) in Shareholders' Equity | ||||||
Net income | 656 | 656 | ||||
Other comprehensive loss | (26) | (26) | ||||
Issuance of common stock from stock plans (in shares) | 6 | |||||
Issuance of common stock from stock plans | 1 | 1 | ||||
Tax withholding related to vesting of restricted stock units (in shares) | (2) | |||||
Tax withholding related to vesting of restricted stock units | $ (299) | (299) | ||||
Shares repurchased (in shares) | (19) | (19) | ||||
Shares repurchased | $ (3,345) | $ (1) | (1) | (3,343) | ||
Cash dividends declared and paid | (100) | (100) | ||||
Stock-based compensation | 644 | 644 | ||||
Ending balance, common stock outstanding (in shares) at Jul. 31, 2022 | 2,489 | |||||
Ending balances, shareholders' equity at Jul. 31, 2022 | $ 23,851 | $ 2 | $ 10,968 | $ 0 | $ (90) | $ 12,971 |
CONDENSED CONSOLIDATED STATEM_4
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2022 | Aug. 01, 2021 | Jul. 31, 2022 | Aug. 01, 2021 | |
Statement of Stockholders' Equity [Abstract] | ||||
Common stock, dividends per share, declared and paid (in dollars per share) | $ 0.04 | $ 0.04 | $ 0.08 | $ 0.08 |
CONDENSED CONSOLIDATED STATEM_5
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions | 6 Months Ended | |
Jul. 31, 2022 | Aug. 01, 2021 | |
Cash flows from operating activities: | ||
Net income | $ 2,274 | $ 4,285 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Acquisition termination cost | 1,353 | 0 |
Stock-based compensation expense | 1,226 | 894 |
Depreciation and amortization | 712 | 567 |
Losses (gains) on investments in non-affiliates, net | 24 | (133) |
Deferred income taxes | (985) | (161) |
Other | 18 | 16 |
Changes in operating assets and liabilities, net of acquisitions: | ||
Accounts receivable | (668) | (1,157) |
Inventories | (1,285) | (282) |
Prepaid expenses and other assets | (1,554) | 18 |
Accounts payable | 559 | 245 |
Accrued and other current liabilities | 1,267 | 166 |
Other long-term liabilities | 60 | 98 |
Net cash provided by operating activities | 3,001 | 4,556 |
Cash flows from investing activities: | ||
Proceeds from maturities of marketable securities | 10,983 | 5,236 |
Proceeds from sales of marketable securities | 1,731 | 705 |
Purchases of marketable securities | (7,576) | (9,268) |
Purchases related to property and equipment and intangible assets | (794) | (481) |
Acquisitions, net of cash acquired | (49) | 0 |
Investments and other, net | (65) | 3 |
Net cash provided by (used in) investing activities | 4,230 | (3,805) |
Cash flows from financing activities: | ||
Issuance of debt, net of issuance costs | 0 | 4,985 |
Proceeds related to employee stock plans | 205 | 128 |
Payments related to repurchases of common stock | (5,341) | 0 |
Payments related to tax on restricted stock units | (837) | (843) |
Dividends paid | (200) | (198) |
Principal payments on property and equipment and intangible asset | (36) | (40) |
Other | 1 | (2) |
Net cash provided by (used in) financing activities | (6,208) | 4,030 |
Change in cash and cash equivalents | 1,023 | 4,781 |
Cash and cash equivalents at beginning of period | 1,990 | 847 |
Cash and cash equivalents at end of period | 3,013 | 5,628 |
Supplemental disclosures of cash flow information: | ||
Cash paid for income taxes, net | $ 1,108 | $ 241 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jul. 31, 2022 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Securities and Exchange Commission, or SEC, Regulation S-X. The January 30, 2022 consolidated balance sheet was derived from our audited consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended January 30, 2022, as filed with the SEC, but does not include all disclosures required by U.S. GAAP. In the opinion of management, all adjustments, consisting only of normal recurring adjustments considered necessary for a fair statement of results of operations and financial position, have been included. The results for the interim periods presented are not necessarily indicative of the results expected for any future period. The following information should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended January 30, 2022. Significant Accounting Policies There have been no material changes to our significant accounting policies disclosed in Note 1 - Organization and Summary of Significant Accounting Policies, of the Notes to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended January 30, 2022. Fiscal Year We operate on a 52- or 53-week year, ending on the last Sunday in January. Fiscal years 2023 and 2022 are both 52-week years. The second quarters of fiscal years 2023 and 2022 were both 13-week quarters. Reclassifications Certain prior fiscal year balances have been reclassified to conform to the current fiscal year presentation. Principles of Consolidation Our condensed consolidated financial statements include the accounts of NVIDIA Corporation and our wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. |
Business Combination
Business Combination | 6 Months Ended |
Jul. 31, 2022 | |
Business Combination and Asset Acquisition [Abstract] | |
Business Combination | Business Combination Termination of the Arm Share Purchase Agreement In February 2022, NVIDIA and SoftBank Group Corp, or SoftBank, announced the termination of the Share Purchase Agreement whereby NVIDIA would have acquired Arm Limited from SoftBank. The parties agreed to terminate because of significant regulatory challenges preventing the completion of the transaction. We recorded an acquisition termination cost of $1.35 billion in the first quarter of fiscal year 2023 reflecting the write-off of the prepayment provided at signing in September 2020. |
Leases
Leases | 6 Months Ended |
Jul. 31, 2022 | |
Leases [Abstract] | |
Leases | Leases Our lease obligations primarily consist of operating leases for our headquarters complex, domestic and international office facilities, and data center space, with lease periods expiring between fiscal years 2023 and 2035. Future minimum lease payments under our non-cancelable operating leases as of July 31, 2022 are as follows: Operating Lease Obligations (In millions) Fiscal Year: 2023 (excluding first half of fiscal year 2023) $ 91 2024 169 2025 148 2026 132 2027 123 2028 and thereafter 348 Total 1,011 Less imputed interest 123 Present value of net future minimum lease payments 888 Less short-term operating lease liabilities 145 Long-term operating lease liabilities $ 743 In addition to our existing operating lease obligations, we have operating leases that are expected to commence between the third quarter of fiscal year 2023 and fiscal year 2025 with lease terms of 2 to 8 years for $798 million, consisting primarily of data center space. Operating lease expenses were $47 million and $42 million for the second quarter of fiscal years 2023 and 2022, respectively, and $90 million and $81 million for the first half of fiscal years 2023 and 2022, respectively. Short-term and variable lease expenses for the second quarter and first half of fiscal years 2023 and 2022 were not significant. Other information related to leases was as follows: Six Months Ended July 31, 2022 August 1, 2021 (In millions) Supplemental cash flows information Operating cash flows used for operating leases $ 91 $ 75 Operating lease assets obtained in exchange for lease obligations $ 98 $ 164 |
Stock-Based Compensation
Stock-Based Compensation | 6 Months Ended |
Jul. 31, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Stock-Based Compensation | Stock-Based Compensation Our stock-based compensation expense is associated with restricted stock units, or RSUs, performance stock units that are based on our corporate financial performance targets, or PSUs, performance stock units that are based on market conditions, or market-based PSUs, and our employee stock purchase plan, or ESPP. Our Condensed Consolidated Statements of Income include stock-based compensation expense, net of amounts allocated to inventory, as follows: Three Months Ended Six Months Ended July 31, August 1, July 31, August 1, (In millions) Cost of revenue $ 38 $ 32 $ 76 $ 57 Research and development 452 297 836 573 Sales, general and administrative 159 136 315 264 Total $ 649 $ 465 $ 1,227 $ 894 Equity Award Activity The following is a summary of our equity award transactions under our equity incentive plans: RSUs, PSUs, and Market-based PSUs Outstanding Number of Shares Weighted Average Grant-Date Fair Value Per Share (In millions, except per share data) Balances, January 30, 2022 46 $ 114.19 Granted 22 $ 187.51 Vested restricted stock (11) $ 86.77 Canceled and forfeited (1) $ 131.19 Balances, July 31, 2022 56 $ 148.43 As of July 31, 2022, there was $7.61 billion of aggregate unearned stock-based compensation expense. This amount is expected to be recognized over a weighted average period of 2.8 years for RSUs, PSUs, and market-based PSUs, and 1.0 year for ESPP. |
Net Income Per Share
Net Income Per Share | 6 Months Ended |
Jul. 31, 2022 | |
Earnings Per Share [Abstract] | |
Net Income Per Share | Net Income Per Share The following is a reconciliation of the denominator of the basic and diluted net income per share computations for the periods presented: Three Months Ended Six Months Ended July 31, August 1, July 31, August 1, 2022 2021 2022 2021 (In millions, except per share data) Numerator: Net income $ 656 $ 2,374 $ 2,274 $ 4,285 Denominator: Basic weighted average shares 2,495 2,493 2,500 2,489 Dilutive impact of outstanding equity awards 21 39 26 40 Diluted weighted average shares 2,516 2,532 2,526 2,529 Net income per share: Basic (1) $ 0.26 $ 0.95 $ 0.91 $ 1.72 Diluted (2) $ 0.26 $ 0.94 $ 0.90 $ 1.69 Equity awards excluded from diluted net income per share because their effect would have been anti-dilutive 33 13 25 15 (1) Calculated as net income divided by basic weighted average shares. (2) Calculated as net income divided by diluted weighted average shares. |
Income Taxes
Income Taxes | 6 Months Ended |
Jul. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes We recognized an income tax benefit of $181 million and an income tax expense of $6 million for the second quarter and first half of fiscal year 2023, respectively, and an income tax expense of $20 million and $153 million for the second quarter and first half of fiscal year 2022, respectively. Income tax as a percentage of income before income tax was a benefit of 38.0% for the second quarter of fiscal year 2023, and an expense of 0.3% for the first half of fiscal year 2023 and an expense of 0.9% and 3.4% for the second quarter and first half of fiscal year 2022, respectively. The decrease in our effective tax rate for the second quarter and first half of fiscal year 2023 as compared to the same periods of fiscal year 2022 was primarily due to the increased tax benefit of stock-based compensation, the foreign-derived intangible income deduction, and the U.S. federal research tax credit, relative to a reduction in expected profitability. This is partially offset by the impact of an increase in the proportion of earnings subject to U.S. tax in fiscal year 2023 and the one-time discrete benefit from re-valuing certain deferred tax assets in connection with the domestication of one of our foreign subsidiaries, or the Domestication, in fiscal year 2022. Our effective tax rate for the first half of fiscal year 2023 was lower than the U.S. federal statutory rate of 21% due to tax benefits from the foreign-derived intangible income deduction, stock-based compensation and the U.S. federal research tax credit. Our effective tax rate for the first half of fiscal year 2022 was lower than the U.S. federal statutory rate of 21% due to the discrete benefit of the Domestication, tax benefits related to the foreign-derived intangible income deduction, income earned in jurisdictions that are subject to taxes lower than the U.S. federal statutory tax rate, and tax benefits related to the U.S. federal research tax credit and stock-based compensation. For the first half of fiscal year 2023, there were no material changes to our tax years that remain subject to examination by major tax jurisdictions. We are currently under examination by the Internal Revenue Service for our fiscal years 2018 and 2019. Additionally, there have been no material changes to our unrecognized tax benefits and any related interest or penalties since the fiscal year ended January 30, 2022. |
Cash Equivalents and Marketable
Cash Equivalents and Marketable Securities | 6 Months Ended |
Jul. 31, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Cash Equivalents and Marketable Securities | Cash Equivalents and Marketable Securities Our cash equivalents and marketable securities related to debt securities are classified as “available-for-sale” debt securities. The following is a summary of cash equivalents and marketable securities as of July 31, 2022 and January 30, 2022: July 31, 2022 Amortized Unrealized Unrealized Estimated Reported as Cash Equivalents Marketable Securities (In millions) Corporate debt securities $ 8,016 $ — $ (18) $ 7,998 $ 1,115 $ 6,883 Debt securities issued by the United States Treasury 4,068 1 (39) 4,030 108 3,922 Debt securities issued by United States government agencies 3,056 — (2) 3,054 564 2,490 Certificates of deposit 856 — — 856 128 728 Money market funds 639 — — 639 639 — Foreign government bonds 15 — — 15 15 — Total $ 16,650 $ 1 $ (59) $ 16,592 $ 2,569 $ 14,023 January 30, 2022 Amortized Unrealized Unrealized Estimated Reported as Cash Equivalents Marketable Securities (In millions) Corporate debt securities $ 9,977 $ — $ (3) $ 9,974 $ 1,102 $ 8,872 Debt securities issued by the United States Treasury 7,314 — (14) 7,300 — 7,300 Debt securities issued by United States government agencies 1,612 — — 1,612 256 1,356 Certificates of deposit 1,561 — — 1,561 21 1,540 Money market funds 316 — — 316 316 — Foreign government bonds 150 — — 150 — 150 Total $ 20,930 $ — $ (17) $ 20,913 $ 1,695 $ 19,218 The following tables provide the breakdown of unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous loss position: July 31, 2022 Less than 12 Months 12 Months or Greater Total Estimated Fair Value Gross Unrealized Loss Estimated Fair Value Gross Unrealized Loss Estimated Fair Value Gross Unrealized Loss (In millions) Debt securities issued by the United States Treasury $ 2,793 $ (39) $ — $ — $ 2,793 $ (39) Debt securities issued by United States government agencies 2,312 (2) — — 2,312 (2) Corporate debt securities 1,925 (17) 105 (1) 2,030 (18) Total $ 7,030 $ (58) $ 105 $ (1) $ 7,135 $ (59) January 30, 2022 Less than 12 Months 12 Months or Greater Total Estimated Fair Value Gross Unrealized Loss Estimated Fair Value Gross Unrealized Loss Estimated Fair Value Gross Unrealized Loss (In millions) Debt securities issued by the United States Treasury $ 5,292 $ (14) $ — $ — $ 5,292 $ (14) Corporate debt securities 2,445 (3) 19 — 2,464 (3) Total $ 7,737 $ (17) $ 19 $ — $ 7,756 $ (17) The gross unrealized losses are related to fixed income securities, driven primarily by changes in interest rates. Net realized gains and unrealized gains and losses were not significant for all periods presented. The amortized cost and estimated fair value of cash equivalents and marketable securities as of July 31, 2022 and January 30, 2022 are shown below by contractual maturity. July 31, 2022 January 30, 2022 Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value (In millions) Less than one year $ 12,628 $ 12,607 $ 16,346 $ 16,343 Due in 1 - 5 years 4,022 3,985 4,584 4,570 Total $ 16,650 $ 16,592 $ 20,930 $ 20,913 |
Fair Value of Financial Assets
Fair Value of Financial Assets and Liabilities | 6 Months Ended |
Jul. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Assets and Liabilities | Fair Value of Financial Assets and Liabilities The fair values of our financial assets and liabilities are determined using quoted market prices of identical assets or quoted market prices of similar assets from active markets. We review fair value hierarchy classification on a quarterly basis. Fair Value at Pricing Category July 31, 2022 January 30, 2022 (In millions) Assets Cash equivalents and marketable securities: Money market funds Level 1 $ 639 $ 316 Corporate debt securities Level 2 $ 7,998 $ 9,974 Debt securities issued by the United States Treasury Level 2 $ 4,030 $ 7,300 Debt securities issued by United States government agencies Level 2 $ 3,054 $ 1,612 Certificates of deposit Level 2 $ 856 $ 1,561 Foreign government bonds Level 2 $ 15 $ 150 Other assets (Investment in non-affiliated entities): Publicly-held equity securities (1) Level 1 $ 41 $ 58 Privately-held equity securities Level 3 $ 266 $ 208 Liabilities (2) 0.309% Notes Due 2023 Level 2 $ 1,220 $ 1,236 0.584% Notes Due 2024 Level 2 $ 1,193 $ 1,224 3.20% Notes Due 2026 Level 2 $ 1,013 $ 1,055 1.55% Notes Due 2028 Level 2 $ 1,136 $ 1,200 2.85% Notes Due 2030 Level 2 $ 1,431 $ 1,542 2.00% Notes Due 2031 Level 2 $ 1,116 $ 1,200 3.50% Notes Due 2040 Level 2 $ 927 $ 1,066 3.50% Notes Due 2050 Level 2 $ 1,815 $ 2,147 3.70% Notes Due 2060 Level 2 $ 451 $ 551 (1) Unrealized losses of $7 million and $31 million from investments in publicly-traded equity securities were recorded in other income (expense), net, in the second quarter and first half of fiscal year 2023, respectively. An unrealized loss of $6 million on an investment in a publicly-traded equity security was recorded in other income (expense), net in the second quarter of fiscal year 2022 and an unrealized gain of $118 million was recorded in other income (expense), net in the first half of fiscal year 2022. (2) These liabilities are carried on our Condensed Consolidated Balance Sheets at their original issuance value, net of unamortized debt discount and issuance costs. |
Amortizable Intangible Assets a
Amortizable Intangible Assets and Goodwill | 6 Months Ended |
Jul. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Amortizable Intangible Assets and Goodwill | Amortizable Intangible Assets and Goodwill The components of our amortizable intangible assets are as follows: July 31, 2022 January 30, 2022 Gross Accumulated Net Carrying Gross Accumulated Net Carrying (In millions) Acquisition-related intangible assets (1) $ 3,260 $ (1,434) $ 1,826 $ 3,418 $ (1,304) $ 2,114 Patents and licensed technology 718 (508) 210 717 (492) 225 Total intangible assets $ 3,978 $ (1,942) $ 2,036 $ 4,135 $ (1,796) $ 2,339 (1) During the first quarter of fiscal year 2023, we commenced amortization of the $630 million in-process research and development intangible asset related to our acquisition of Mellanox. Amortization expense associated with intangible assets was $182 million and $336 million for the second quarter and first half of fiscal year 2023, respectively, and $138 million and $275 million for the second quarter and first half of fiscal year 2022, respectively. Future amortization expense related to the net carrying amount of intangible assets as of July 31, 2022 is estimated to be $364 million for the remainder of fiscal year 2023, $601 million in fiscal year 2024, $539 million in fiscal year 2025, $245 million in fiscal year 2026, $141 million in fiscal year 2027, and $146 million in fiscal year 2028 and thereafter. |
Balance Sheet Components
Balance Sheet Components | 6 Months Ended |
Jul. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Balance Sheet Components | Balance Sheet Components Certain balance sheet components are as follows: July 31, January 30, 2022 2022 Inventories (1) : (In millions) Raw materials $ 1,534 $ 791 Work in-process 767 692 Finished goods 1,588 1,122 Total inventories $ 3,889 $ 2,605 (1) During the second quarter of fiscal year 2023, we recorded an inventory reserve expense of approximately $570 million in cost of revenue. July 31, January 30, 2022 2022 Other assets: (In millions) Prepaid supply agreements $ 2,523 $ 1,747 Prepaid royalties 399 409 Investment in non-affiliated entities 307 266 Advanced consideration for acquisition (1) — 1,353 Other 111 66 Total other assets $ 3,340 $ 3,841 (1) Refer to Note 2 - Business Combination for further details on the Arm acquisition. July 31, January 30, 2022 2022 Accrued and Other Current Liabilities: (In millions) Customer program accruals $ 1,463 $ 1,000 Excess inventory purchase obligations (1) 866 196 Accrued payroll and related expenses 421 409 Deferred revenue (2) 359 300 Product warranty 168 46 Taxes payable 158 132 Other 468 469 Total accrued and other current liabilities $ 3,903 $ 2,552 (1) During the second quarter of fiscal year 2023, we recorded an expense of approximately $650 million in cost of revenue for inventory purchase obligations in excess of our current demand projections, and cancellation and underutilization penalties. (2) Deferred revenue primarily includes customer advances and deferrals related to license and development arrangements, support for hardware and software, and cloud services. July 31, January 30, 2022 2022 Other Long-Term Liabilities: (In millions) Income tax payable (1) $ 1,022 $ 980 Deferred income tax 252 245 Deferred revenue (2) 201 202 Other 134 126 Total other long-term liabilities $ 1,609 $ 1,553 (1) As of July 31, 2022, income tax payable represents the long-term portion of the one-time transition tax payable of $188 million, unrecognized tax benefits of $762 million, and related interest and penalties of $72 million. As of January 30, 2022, income tax payable represents the long-term portion of the one-time transition tax payable of $251 million, unrecognized tax benefits of $670 million, and related interest and penalties of $59 million. (2) Deferred revenue primarily includes deferrals related to support for hardware and software. Deferred Revenue The following table shows the changes in deferred revenue during the first half of fiscal years 2023 and 2022: July 31, August 1, 2022 2021 (In millions) Balance at beginning of period $ 502 $ 451 Deferred revenue additions during the period 399 401 Revenue recognized during the period (341) (362) Balance at end of period $ 560 $ 490 Revenue related to remaining performance obligations represents the contracted license and development arrangements and support for hardware and software. This includes deferred revenue currently recorded and amounts that will be invoiced in future periods. As of July 31, 2022, $645 million of revenue related to performance obligations had not been recognized, of which we expect to recognize approximately 48% over the next twelve months and the remainder thereafter. This excludes revenue related to performance obligations for contracts with a length of one year or less. |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Jul. 31, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | Derivative Financial Instruments We enter into foreign currency forward contracts to mitigate the impact of foreign currency exchange rate movements on our operating expenses. These contracts are designated as cash flow hedges for hedge accounting treatment. Gains or losses on the contracts are recorded in accumulated other comprehensive income or loss and reclassified to operating expense when the related operating expenses are recognized in earnings or ineffectiveness should occur. The fair value of the contracts was not significant as of July 31, 2022 and January 30, 2022. We also enter into foreign currency forward contracts to mitigate the impact of foreign currency movements on monetary assets and liabilities that are denominated in currencies other than the U.S. dollar. These forward contracts were not designated for hedge accounting treatment. Therefore, the change in fair value of these contracts is recorded in other income or expense and offsets the change in fair value of the hedged foreign currency denominated monetary assets and liabilities, which is also recorded in other income or expense. The table below presents the notional value of our foreign currency forward contracts outstanding as of July 31, 2022 and January 30, 2022: July 31, January 30, (In millions) Designated as cash flow hedges $ 1,090 $ 1,023 Not designated for hedge accounting $ 378 $ 408 As of July 31, 2022, all designated foreign currency forward contracts mature within 18 months. The expected realized gains and losses deferred into accumulated other comprehensive income or loss related to foreign currency forward contracts within the next twelve months was not significant. During the first half of fiscal years 2023 and 2022, the impact of derivative financial instruments designated for hedge accounting treatment on other comprehensive income or loss was not significant. |
Debt
Debt | 6 Months Ended |
Jul. 31, 2022 | |
Debt Disclosure [Abstract] | |
Debt | Debt Long-Term Debt The carrying values of our outstanding notes and their associated interest rates were as follows: Carrying Value at Expected Remaining Term (years) Effective July 31, 2022 January 30, 2022 (In millions) 0.309% Notes Due 2023 0.9 0.41% $ 1,250 $ 1,250 0.584% Notes Due 2024 1.9 0.66% 1,250 1,250 3.20% Notes Due 2026 4.1 3.31% 1,000 1,000 1.55% Notes Due 2028 5.9 1.64% 1,250 1,250 2.85% Notes Due 2030 7.7 2.93% 1,500 1,500 2.00% Notes Due 2031 8.9 2.09% 1,250 1,250 3.50% Notes Due 2040 17.7 3.54% 1,000 1,000 3.50% Notes Due 2050 27.7 3.54% 2,000 2,000 3.70% Notes Due 2060 37.7 3.73% 500 500 Unamortized debt discount and issuance costs (51) (54) Net carrying amount $ 10,949 $ 10,946 Less short-term portion (1,249) — Total long-term portion $ 9,700 $ 10,946 All our notes are unsecured senior obligations. All existing and future liabilities of our subsidiaries will be effectively senior to the notes. Our notes pay interest semi-annually. We may redeem each of our notes prior to maturity, subject to a make-whole premium as defined in the applicable form of note. As of July 31, 2022, we have complied with the required covenants under the notes. Commercial Paper We have a $575 million commercial paper program to support general corporate purposes. As of July 31, 2022, we had not issued any commercial paper. |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jul. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Purchase Obligations Our purchase obligations primarily include our commitments to purchase components used to manufacture our products, including long-term supply agreements, certain software and technology licenses, other goods and services and long-lived assets. We have entered into several long-term supply agreements, under which we have made advance payments and have $929 million remaining unpaid. As of July 31, 2022, we had outstanding inventory purchase and long-term supply obligations totaling $9.22 billion, inclusive of the $929 million. We also had other purchase obligations totaling $1.36 billion. Total gross future unconditional purchase commitments as of July 31, 2022, are as follows: Commitments (In millions) Fiscal Year: 2023 (excluding first half of fiscal year 2023) $ 7,108 2024 2,730 2025 295 2026 49 2027 71 2028 and thereafter 331 Total $ 10,584 Accrual for Product Warranty Liabilities The estimated amount of product warranty liabilities was $168 million and $46 million as of July 31, 2022 and January 30, 2022, respectively. In the second quarter of fiscal year 2023, we recorded $122 million in product warranty liabilities primarily related to a defect identified in a third-party component embedded in certain Data Center products. The estimated product returns and estimated product warranty activity consisted of the following: Three Months Ended Six Months Ended July 31, August 1, July 31, August 1, 2022 2021 2022 2021 (In millions) Balance at beginning of period $ 55 $ 30 $ 46 $ 22 Additions 122 4 138 15 Deductions (9) (3) (16) (6) Balance at end of period $ 168 $ 31 $ 168 $ 31 In connection with certain agreements that we have entered in the past, we have provided indemnities for matters such as tax, product, and employee liabilities. We have included intellectual property indemnification provisions in our technology-related agreements with third parties. Maximum potential future payments cannot be estimated because many of these agreements do not have a maximum stated liability. We have not recorded any liability in our Condensed Consolidated Financial Statements for such indemnifications. Securities Class Action and Derivative Lawsuits The plaintiffs in the putative securities class action lawsuit, captioned 4:18-cv-07669-HSG, initially filed on December 21, 2018 in the United States District Court for the Northern District of California, and titled In Re NVIDIA Corporation Securities Litigation , filed an amended complaint on May 13, 2020. The amended complaint asserted that NVIDIA and certain NVIDIA executives violated Section 10(b) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, and SEC Rule 10b-5, by making materially false or misleading statements related to channel inventory and the impact of cryptocurrency mining on GPU demand between May 10, 2017 and November 14, 2018. Plaintiffs also alleged that the NVIDIA executives who they named as defendants violated Section 20(a) of the Exchange Act. Plaintiffs sought class certification, an award of unspecified compensatory damages, an award of reasonable costs and expenses, including attorneys’ fees and expert fees, and further relief as the Court may deem just and proper. On March 2, 2021, the district court granted NVIDIA’s motion to dismiss the complaint without leave to amend, entered judgment in favor of NVIDIA and closed the case. On March 30, 2021, plaintiffs filed an appeal from judgment in the United States Court of Appeals for the Ninth Circuit, case number 21-15604. Oral argument on the appeal was held on May 10, 2022. The putative derivative lawsuit pending in the United States District Court for the Northern District of California, captioned 4:19-cv-00341-HSG, initially filed January 18, 2019 and titled In re NVIDIA Corporation Consolidated Derivative Litigation , was stayed pending resolution of the plaintiffs’ appeal in the In Re NVIDIA Corporation Securities Litigation action. On February 22, 2022, the court administratively closed the case, but stated that it would reopen the case once the appeal in the In Re NVIDIA Corporation Securities Litigation action is resolved. The lawsuit asserts claims, purportedly on behalf of us, against certain officers and directors of the Company for breach of fiduciary duty, unjust enrichment, waste of corporate assets, and violations of Sections 14(a), 10(b), and 20(a) of the Exchange Act based on the dissemination of allegedly false and misleading statements related to channel inventory and the impact of cryptocurrency mining on GPU demand. The plaintiffs are seeking unspecified damages and other relief, including reforms and improvements to NVIDIA’s corporate governance and internal procedures. The putative derivative actions initially filed September 24, 2019 and pending in the United States District Court for the District of Delaware, Lipchitz v. Huang, et al. (Case No. 1:19-cv-01795-UNA) and Nelson v. Huang, et. al. (Case No. 1:19-cv-01798- UNA), remain stayed pending resolution of the plaintiffs’ appeal in the In Re NVIDIA Corporation Securities Litigation action. The lawsuits assert claims, purportedly on behalf of us, against certain officers and directors of the Company for breach of fiduciary duty, unjust enrichment, insider trading, misappropriation of information, corporate waste and violations of Sections 14(a), 10(b), and 20(a) of the Exchange Act based on the dissemination of allegedly false, and misleading statements related to channel inventory and the impact of cryptocurrency mining on GPU demand. The plaintiffs seek unspecified damages and other relief, including disgorgement of profits from the sale of NVIDIA stock and unspecified corporate governance measures. Settlement In May 2022, NVIDIA entered into a settlement with the SEC relating to MD&A disclosures in our Forms 10-Q for the second and third quarters of fiscal year 2018 concerning the impact of cryptocurrency mining on year-over-year growth in revenue for our gaming specialized market during those periods. As part of the settlement, without admitting or denying the findings in the administrative order issued by the SEC, NVIDIA agreed to cease-and-desist from violating certain federal securities laws and paid a $5.5 million civil penalty. Accounting for Loss Contingencies As of July 31, 2022, we have not recorded any accrual for contingent liabilities associated with the legal proceedings described above based on our belief that liabilities, while possible, are not probable. Further, except as specifically described above, any possible loss or range of loss in these matters cannot be reasonably estimated at this time. We are engaged in legal actions not described above arising in the ordinary course of business and, while there can be no assurance of favorable outcomes, we believe that the ultimate outcome of these actions will not have a material adverse effect on our operating results, liquidity or financial position. |
Shareholders' Equity
Shareholders' Equity | 6 Months Ended |
Jul. 31, 2022 | |
Equity [Abstract] | |
Shareholders' Equity | Shareholders’ Equity Capital Return Program During the second quarter and first half of fiscal year 2023, we repurchased a total of 19 million and 28 million shares for $3.35 billion and $5.34 billion, respectively. Through July 31, 2022, we have repurchased an aggregate of 1.07 billion shares under our share repurchase program for a total cost of $12.42 billion. As of July 31, 2022, we were authorized, subject to certain specifications, to repurchase additional common stock up to a total of $11.93 billion through December 2023. During the second quarter and first half of fiscal year 2023, we paid $100 million and $200 million in cash dividends to our shareholders, respectively. During the second quarter and first half of fiscal year 2022, we paid $100 million and $198 million in cash dividends to our shareholders, respectively. |
Segment Information
Segment Information | 6 Months Ended |
Jul. 31, 2022 | |
Segment Reporting [Abstract] | |
Segment Information | Segment Information Our Chief Executive Officer, who is considered to be our chief operating decision maker, or CODM, reviews financial information presented on an operating segment basis for purposes of making decisions and assessing financial performance. Our Graphics segment includes GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds. Our Compute & Networking segment includes Data Center platforms and systems for artificial intelligence, or AI, high-performance computing, and accelerated computing; Mellanox networking and interconnect solutions; automotive AI Cockpit, autonomous driving development agreements, and autonomous vehicle solutions; cryptocurrency mining processors, or CMP; Jetson for robotics and other embedded platforms; and NVIDIA AI Enterprise and other software. Operating results by segment include costs or expenses that are directly attributable to each segment, and costs or expenses that are leveraged across our unified architecture and therefore allocated between our two segments. The “All Other” category includes the expenses that our CODM does not assign to either Graphics or Compute & Networking for purposes of making operating decisions or assessing financial performance. The expenses include stock-based compensation expense, corporate infrastructure and support costs, acquisition-related costs, IP-related costs, and other non-recurring charges and benefits that our CODM deems to be enterprise in nature. Our CODM does not review any information regarding total assets on a reportable segment basis. Depreciation and amortization expense directly attributable to each reportable segment is included in operating results for each segment. However, the CODM does not evaluate depreciation and amortization expense by operating segment and, therefore, it is not separately presented. There is no intersegment revenue. The accounting policies for segment reporting are the same as for our consolidated financial statements. The table below presents details of our reportable segments and the “All Other” category. Graphics Compute & Networking All Other Consolidated (In millions) Three Months Ended July 31, 2022 Revenue $ 2,797 $ 3,907 $ — $ 6,704 Operating income (loss) $ 657 $ 816 $ (974) $ 499 Three Months Ended August 1, 2021 Revenue $ 3,907 $ 2,600 $ — $ 6,507 Operating income (loss) $ 2,127 $ 1,034 $ (717) $ 2,444 Six Months Ended July 31, 2022 Revenue $ 7,413 $ 7,579 $ — $ 14,992 Operating income (loss) $ 3,133 $ 2,422 $ (3,188) $ 2,367 Six Months Ended August 1, 2021 Revenue $ 7,358 $ 4,810 $ — $ 12,168 Operating income (loss) $ 3,913 $ 1,895 $ (1,408) $ 4,400 Three Months Ended Six Months Ended July 31, August 1, July 31, August 1, (In millions) Reconciling items included in "All Other" category: Stock-based compensation expense $ (649) $ (465) $ (1,227) $ (894) Acquisition-related and other costs (175) (158) (324) (325) Unallocated cost of revenue and operating expenses (148) (90) (275) (180) Contributions (2) — (2) — IP-related and legal settlement costs — (4) (7) (9) Acquisition termination cost — — (1,353) — Total $ (974) $ (717) $ (3,188) $ (1,408) Revenue by geographic region is allocated to individual countries based on the location to which the products are initially billed even if our customers’ revenue is attributable to end customers that are located in a different location. The following table summarizes information pertaining to our revenue from customers based on the invoicing address by geographic regions: Three Months Ended Six Months Ended July 31, August 1, July 31, August 1, 2022 2021 2022 2021 (In millions) Revenue: United States $ 1,988 $ 996 $ 3,921 $ 1,764 China (including Hong Kong) 1,602 1,720 3,683 3,111 Taiwan 1,204 1,961 3,981 3,745 Other countries 1,910 1,830 3,407 3,548 Total revenue $ 6,704 $ 6,507 $ 14,992 $ 12,168 The following table summarizes information pertaining to our revenue by each of the specialized markets we serve: Three Months Ended Six Months Ended July 31, August 1, July 31, August 1, 2022 2021 2022 2021 (In millions) Revenue: Gaming $ 2,042 $ 3,061 $ 5,662 $ 5,821 Data Center 3,806 2,366 7,556 4,414 Professional Visualization 496 519 1,118 891 Automotive 220 152 358 306 OEM and Other 140 409 298 736 Total revenue $ 6,704 $ 6,507 $ 14,992 $ 12,168 No customer represented 10% or more of total revenue for the second quarter and first half of fiscal years 2023 or 2022. Two customers each represented 10% or more of accounts receivable for a total of 21% of our accounts receivable balance as of July 31, 2022. Two customers each represented 10% or more of accounts receivable for a total of 22% as of January 30, 2022. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jul. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of PresentationThe accompanying unaudited condensed consolidated financial statements were prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Securities and Exchange Commission, or SEC, Regulation S-X. The January 30, 2022 consolidated balance sheet was derived from our audited consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended January 30, 2022, as filed with the SEC, but does not include all disclosures required by U.S. GAAP. In the opinion of management, all adjustments, consisting only of normal recurring adjustments considered necessary for a fair statement of results of operations and financial position, have been included. The results for the interim periods presented are not necessarily indicative of the results expected for any future period. The following information should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended January 30, 2022. |
Fiscal Year | Fiscal Year We operate on a 52- or 53-week year, ending on the last Sunday in January. Fiscal years 2023 and 2022 are both 52-week years. The second quarters of fiscal years 2023 and 2022 were both 13-week quarters. |
Reclassifications | Reclassifications Certain prior fiscal year balances have been reclassified to conform to the current fiscal year presentation. |
Principles of Consolidation | Principles of Consolidation Our condensed consolidated financial statements include the accounts of NVIDIA Corporation and our wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jul. 31, 2022 | |
Leases [Abstract] | |
Schedule of future minimum lease payments | Future minimum lease payments under our non-cancelable operating leases as of July 31, 2022 are as follows: Operating Lease Obligations (In millions) Fiscal Year: 2023 (excluding first half of fiscal year 2023) $ 91 2024 169 2025 148 2026 132 2027 123 2028 and thereafter 348 Total 1,011 Less imputed interest 123 Present value of net future minimum lease payments 888 Less short-term operating lease liabilities 145 Long-term operating lease liabilities $ 743 |
Schedule of other information related to leases | Other information related to leases was as follows: Six Months Ended July 31, 2022 August 1, 2021 (In millions) Supplemental cash flows information Operating cash flows used for operating leases $ 91 $ 75 Operating lease assets obtained in exchange for lease obligations $ 98 $ 164 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 6 Months Ended |
Jul. 31, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Schedule of stock-based compensation expense, net of amounts capitalized as inventory | Our Condensed Consolidated Statements of Income include stock-based compensation expense, net of amounts allocated to inventory, as follows: Three Months Ended Six Months Ended July 31, August 1, July 31, August 1, (In millions) Cost of revenue $ 38 $ 32 $ 76 $ 57 Research and development 452 297 836 573 Sales, general and administrative 159 136 315 264 Total $ 649 $ 465 $ 1,227 $ 894 |
Schedule of equity award | The following is a summary of our equity award transactions under our equity incentive plans: RSUs, PSUs, and Market-based PSUs Outstanding Number of Shares Weighted Average Grant-Date Fair Value Per Share (In millions, except per share data) Balances, January 30, 2022 46 $ 114.19 Granted 22 $ 187.51 Vested restricted stock (11) $ 86.77 Canceled and forfeited (1) $ 131.19 Balances, July 31, 2022 56 $ 148.43 |
Net Income Per Share (Tables)
Net Income Per Share (Tables) | 6 Months Ended |
Jul. 31, 2022 | |
Earnings Per Share [Abstract] | |
Schedule of reconciliation of numerators and denominators of basic and diluted net income per share computations | The following is a reconciliation of the denominator of the basic and diluted net income per share computations for the periods presented: Three Months Ended Six Months Ended July 31, August 1, July 31, August 1, 2022 2021 2022 2021 (In millions, except per share data) Numerator: Net income $ 656 $ 2,374 $ 2,274 $ 4,285 Denominator: Basic weighted average shares 2,495 2,493 2,500 2,489 Dilutive impact of outstanding equity awards 21 39 26 40 Diluted weighted average shares 2,516 2,532 2,526 2,529 Net income per share: Basic (1) $ 0.26 $ 0.95 $ 0.91 $ 1.72 Diluted (2) $ 0.26 $ 0.94 $ 0.90 $ 1.69 Equity awards excluded from diluted net income per share because their effect would have been anti-dilutive 33 13 25 15 (1) Calculated as net income divided by basic weighted average shares. (2) Calculated as net income divided by diluted weighted average shares. |
Cash Equivalents and Marketab_2
Cash Equivalents and Marketable Securities (Tables) | 6 Months Ended |
Jul. 31, 2022 | |
Investments, Debt and Equity Securities [Abstract] | |
Schedule of cash equivalents and marketable securities | The following is a summary of cash equivalents and marketable securities as of July 31, 2022 and January 30, 2022: July 31, 2022 Amortized Unrealized Unrealized Estimated Reported as Cash Equivalents Marketable Securities (In millions) Corporate debt securities $ 8,016 $ — $ (18) $ 7,998 $ 1,115 $ 6,883 Debt securities issued by the United States Treasury 4,068 1 (39) 4,030 108 3,922 Debt securities issued by United States government agencies 3,056 — (2) 3,054 564 2,490 Certificates of deposit 856 — — 856 128 728 Money market funds 639 — — 639 639 — Foreign government bonds 15 — — 15 15 — Total $ 16,650 $ 1 $ (59) $ 16,592 $ 2,569 $ 14,023 January 30, 2022 Amortized Unrealized Unrealized Estimated Reported as Cash Equivalents Marketable Securities (In millions) Corporate debt securities $ 9,977 $ — $ (3) $ 9,974 $ 1,102 $ 8,872 Debt securities issued by the United States Treasury 7,314 — (14) 7,300 — 7,300 Debt securities issued by United States government agencies 1,612 — — 1,612 256 1,356 Certificates of deposit 1,561 — — 1,561 21 1,540 Money market funds 316 — — 316 316 — Foreign government bonds 150 — — 150 — 150 Total $ 20,930 $ — $ (17) $ 20,913 $ 1,695 $ 19,218 The amortized cost and estimated fair value of cash equivalents and marketable securities as of July 31, 2022 and January 30, 2022 are shown below by contractual maturity. July 31, 2022 January 30, 2022 Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value (In millions) Less than one year $ 12,628 $ 12,607 $ 16,346 $ 16,343 Due in 1 - 5 years 4,022 3,985 4,584 4,570 Total $ 16,650 $ 16,592 $ 20,930 $ 20,913 |
Schedule of investments in a continuous unrealized loss position | The following tables provide the breakdown of unrealized losses, aggregated by investment category and length of time that individual securities have been in a continuous loss position: July 31, 2022 Less than 12 Months 12 Months or Greater Total Estimated Fair Value Gross Unrealized Loss Estimated Fair Value Gross Unrealized Loss Estimated Fair Value Gross Unrealized Loss (In millions) Debt securities issued by the United States Treasury $ 2,793 $ (39) $ — $ — $ 2,793 $ (39) Debt securities issued by United States government agencies 2,312 (2) — — 2,312 (2) Corporate debt securities 1,925 (17) 105 (1) 2,030 (18) Total $ 7,030 $ (58) $ 105 $ (1) $ 7,135 $ (59) January 30, 2022 Less than 12 Months 12 Months or Greater Total Estimated Fair Value Gross Unrealized Loss Estimated Fair Value Gross Unrealized Loss Estimated Fair Value Gross Unrealized Loss (In millions) Debt securities issued by the United States Treasury $ 5,292 $ (14) $ — $ — $ 5,292 $ (14) Corporate debt securities 2,445 (3) 19 — 2,464 (3) Total $ 7,737 $ (17) $ 19 $ — $ 7,756 $ (17) |
Fair Value of Financial Asset_2
Fair Value of Financial Assets and Liabilities (Tables) | 6 Months Ended |
Jul. 31, 2022 | |
Fair Value Disclosures [Abstract] | |
Schedule of fair value measurements, recurring and nonrecurring | Fair Value at Pricing Category July 31, 2022 January 30, 2022 (In millions) Assets Cash equivalents and marketable securities: Money market funds Level 1 $ 639 $ 316 Corporate debt securities Level 2 $ 7,998 $ 9,974 Debt securities issued by the United States Treasury Level 2 $ 4,030 $ 7,300 Debt securities issued by United States government agencies Level 2 $ 3,054 $ 1,612 Certificates of deposit Level 2 $ 856 $ 1,561 Foreign government bonds Level 2 $ 15 $ 150 Other assets (Investment in non-affiliated entities): Publicly-held equity securities (1) Level 1 $ 41 $ 58 Privately-held equity securities Level 3 $ 266 $ 208 Liabilities (2) 0.309% Notes Due 2023 Level 2 $ 1,220 $ 1,236 0.584% Notes Due 2024 Level 2 $ 1,193 $ 1,224 3.20% Notes Due 2026 Level 2 $ 1,013 $ 1,055 1.55% Notes Due 2028 Level 2 $ 1,136 $ 1,200 2.85% Notes Due 2030 Level 2 $ 1,431 $ 1,542 2.00% Notes Due 2031 Level 2 $ 1,116 $ 1,200 3.50% Notes Due 2040 Level 2 $ 927 $ 1,066 3.50% Notes Due 2050 Level 2 $ 1,815 $ 2,147 3.70% Notes Due 2060 Level 2 $ 451 $ 551 (1) Unrealized losses of $7 million and $31 million from investments in publicly-traded equity securities were recorded in other income (expense), net, in the second quarter and first half of fiscal year 2023, respectively. An unrealized loss of $6 million on an investment in a publicly-traded equity security was recorded in other income (expense), net in the second quarter of fiscal year 2022 and an unrealized gain of $118 million was recorded in other income (expense), net in the first half of fiscal year 2022. (2) These liabilities are carried on our Condensed Consolidated Balance Sheets at their original issuance value, net of unamortized debt discount and issuance costs. |
Amortizable Intangible Assets_2
Amortizable Intangible Assets and Goodwill (Tables) | 6 Months Ended |
Jul. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of components of our amortizable intangible assets | The components of our amortizable intangible assets are as follows: July 31, 2022 January 30, 2022 Gross Accumulated Net Carrying Gross Accumulated Net Carrying (In millions) Acquisition-related intangible assets (1) $ 3,260 $ (1,434) $ 1,826 $ 3,418 $ (1,304) $ 2,114 Patents and licensed technology 718 (508) 210 717 (492) 225 Total intangible assets $ 3,978 $ (1,942) $ 2,036 $ 4,135 $ (1,796) $ 2,339 (1) During the first quarter of fiscal year 2023, we commenced amortization of the $630 million in-process research and development intangible asset related to our acquisition of Mellanox. |
Balance Sheet Components (Table
Balance Sheet Components (Tables) | 6 Months Ended |
Jul. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of inventory | Certain balance sheet components are as follows: July 31, January 30, 2022 2022 Inventories (1) : (In millions) Raw materials $ 1,534 $ 791 Work in-process 767 692 Finished goods 1,588 1,122 Total inventories $ 3,889 $ 2,605 (1) During the second quarter of fiscal year 2023, we recorded an inventory reserve expense of approximately $570 million in cost of revenue. |
Schedule of other assets | July 31, January 30, 2022 2022 Other assets: (In millions) Prepaid supply agreements $ 2,523 $ 1,747 Prepaid royalties 399 409 Investment in non-affiliated entities 307 266 Advanced consideration for acquisition (1) — 1,353 Other 111 66 Total other assets $ 3,340 $ 3,841 |
Schedule of accrued and other current liabilities | July 31, January 30, 2022 2022 Accrued and Other Current Liabilities: (In millions) Customer program accruals $ 1,463 $ 1,000 Excess inventory purchase obligations (1) 866 196 Accrued payroll and related expenses 421 409 Deferred revenue (2) 359 300 Product warranty 168 46 Taxes payable 158 132 Other 468 469 Total accrued and other current liabilities $ 3,903 $ 2,552 (1) During the second quarter of fiscal year 2023, we recorded an expense of approximately $650 million in cost of revenue for inventory purchase obligations in excess of our current demand projections, and cancellation and underutilization penalties. (2) Deferred revenue primarily includes customer advances and deferrals related to license and development arrangements, support for hardware and software, and cloud services. |
Schedule of other long-term liabilities | July 31, January 30, 2022 2022 Other Long-Term Liabilities: (In millions) Income tax payable (1) $ 1,022 $ 980 Deferred income tax 252 245 Deferred revenue (2) 201 202 Other 134 126 Total other long-term liabilities $ 1,609 $ 1,553 (1) As of July 31, 2022, income tax payable represents the long-term portion of the one-time transition tax payable of $188 million, unrecognized tax benefits of $762 million, and related interest and penalties of $72 million. As of January 30, 2022, income tax payable represents the long-term portion of the one-time transition tax payable of $251 million, unrecognized tax benefits of $670 million, and related interest and penalties of $59 million. (2) Deferred revenue primarily includes deferrals related to support for hardware and software. |
Schedule of changes in deferred revenue | The following table shows the changes in deferred revenue during the first half of fiscal years 2023 and 2022: July 31, August 1, 2022 2021 (In millions) Balance at beginning of period $ 502 $ 451 Deferred revenue additions during the period 399 401 Revenue recognized during the period (341) (362) Balance at end of period $ 560 $ 490 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 6 Months Ended |
Jul. 31, 2022 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of notional value of our foreign currency forward contracts outstanding | The table below presents the notional value of our foreign currency forward contracts outstanding as of July 31, 2022 and January 30, 2022: July 31, January 30, (In millions) Designated as cash flow hedges $ 1,090 $ 1,023 Not designated for hedge accounting $ 378 $ 408 |
Debt (Tables)
Debt (Tables) | 6 Months Ended |
Jul. 31, 2022 | |
Debt Disclosure [Abstract] | |
Schedule of long-term debt | The carrying values of our outstanding notes and their associated interest rates were as follows: Carrying Value at Expected Remaining Term (years) Effective July 31, 2022 January 30, 2022 (In millions) 0.309% Notes Due 2023 0.9 0.41% $ 1,250 $ 1,250 0.584% Notes Due 2024 1.9 0.66% 1,250 1,250 3.20% Notes Due 2026 4.1 3.31% 1,000 1,000 1.55% Notes Due 2028 5.9 1.64% 1,250 1,250 2.85% Notes Due 2030 7.7 2.93% 1,500 1,500 2.00% Notes Due 2031 8.9 2.09% 1,250 1,250 3.50% Notes Due 2040 17.7 3.54% 1,000 1,000 3.50% Notes Due 2050 27.7 3.54% 2,000 2,000 3.70% Notes Due 2060 37.7 3.73% 500 500 Unamortized debt discount and issuance costs (51) (54) Net carrying amount $ 10,949 $ 10,946 Less short-term portion (1,249) — Total long-term portion $ 9,700 $ 10,946 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 6 Months Ended |
Jul. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Unconditional Purchase Commitments | Total gross future unconditional purchase commitments as of July 31, 2022, are as follows: Commitments (In millions) Fiscal Year: 2023 (excluding first half of fiscal year 2023) $ 7,108 2024 2,730 2025 295 2026 49 2027 71 2028 and thereafter 331 Total $ 10,584 |
Schedule of Product Warranty Liabilities | The estimated product returns and estimated product warranty activity consisted of the following: Three Months Ended Six Months Ended July 31, August 1, July 31, August 1, 2022 2021 2022 2021 (In millions) Balance at beginning of period $ 55 $ 30 $ 46 $ 22 Additions 122 4 138 15 Deductions (9) (3) (16) (6) Balance at end of period $ 168 $ 31 $ 168 $ 31 |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Jul. 31, 2022 | |
Segment Reporting [Abstract] | |
Schedule of reportable segments | The table below presents details of our reportable segments and the “All Other” category. Graphics Compute & Networking All Other Consolidated (In millions) Three Months Ended July 31, 2022 Revenue $ 2,797 $ 3,907 $ — $ 6,704 Operating income (loss) $ 657 $ 816 $ (974) $ 499 Three Months Ended August 1, 2021 Revenue $ 3,907 $ 2,600 $ — $ 6,507 Operating income (loss) $ 2,127 $ 1,034 $ (717) $ 2,444 Six Months Ended July 31, 2022 Revenue $ 7,413 $ 7,579 $ — $ 14,992 Operating income (loss) $ 3,133 $ 2,422 $ (3,188) $ 2,367 Six Months Ended August 1, 2021 Revenue $ 7,358 $ 4,810 $ — $ 12,168 Operating income (loss) $ 3,913 $ 1,895 $ (1,408) $ 4,400 Three Months Ended Six Months Ended July 31, August 1, July 31, August 1, (In millions) Reconciling items included in "All Other" category: Stock-based compensation expense $ (649) $ (465) $ (1,227) $ (894) Acquisition-related and other costs (175) (158) (324) (325) Unallocated cost of revenue and operating expenses (148) (90) (275) (180) Contributions (2) — (2) — IP-related and legal settlement costs — (4) (7) (9) Acquisition termination cost — — (1,353) — Total $ (974) $ (717) $ (3,188) $ (1,408) |
Schedule of revenue by geographic regions | The following table summarizes information pertaining to our revenue from customers based on the invoicing address by geographic regions: Three Months Ended Six Months Ended July 31, August 1, July 31, August 1, 2022 2021 2022 2021 (In millions) Revenue: United States $ 1,988 $ 996 $ 3,921 $ 1,764 China (including Hong Kong) 1,602 1,720 3,683 3,111 Taiwan 1,204 1,961 3,981 3,745 Other countries 1,910 1,830 3,407 3,548 Total revenue $ 6,704 $ 6,507 $ 14,992 $ 12,168 |
Schedule of revenue by specialized markets | The following table summarizes information pertaining to our revenue by each of the specialized markets we serve: Three Months Ended Six Months Ended July 31, August 1, July 31, August 1, 2022 2021 2022 2021 (In millions) Revenue: Gaming $ 2,042 $ 3,061 $ 5,662 $ 5,821 Data Center 3,806 2,366 7,556 4,414 Professional Visualization 496 519 1,118 891 Automotive 220 152 358 306 OEM and Other 140 409 298 736 Total revenue $ 6,704 $ 6,507 $ 14,992 $ 12,168 |
Business Combination (Details)
Business Combination (Details) $ in Millions | 3 Months Ended |
May 01, 2022 USD ($) | |
Arm Limited | |
Business Acquisition [Line Items] | |
Acquisition termination cost | $ 1,350 |
Leases - Schedule of Future Min
Leases - Schedule of Future Minimum Payments (Details) - USD ($) $ in Millions | Jul. 31, 2022 | Jan. 30, 2022 |
Leases [Abstract] | ||
2023 (excluding first half of fiscal year 2023) | $ 91 | |
2024 | 169 | |
2025 | 148 | |
2026 | 132 | |
2027 | 123 | |
2028 and thereafter | 348 | |
Total | 1,011 | |
Less imputed interest | 123 | |
Present value of net future minimum lease payments | 888 | |
Less short-term operating lease liabilities | 145 | |
Long-term operating lease liabilities | $ 743 | $ 741 |
Leases - Narrative (Details)
Leases - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2022 | Aug. 01, 2021 | Jul. 31, 2022 | Aug. 01, 2021 | Jan. 30, 2022 | |
Lessee, Lease, Description [Line Items] | |||||
Operating lease, not yet commenced, amount | $ 798 | $ 798 | |||
Operating lease expense | $ 47 | $ 42 | $ 90 | $ 81 | |
Weighted average remaining lease term - operating leases | 7 years 1 month 6 days | 7 years 1 month 6 days | 7 years 1 month 6 days | ||
Weighted average discount rate - operating leases | 2.73% | 2.73% | 2.51% | ||
Minimum | |||||
Lessee, Lease, Description [Line Items] | |||||
Lease not yet commenced, term of contract | 2 years | 2 years | |||
Maximum | |||||
Lessee, Lease, Description [Line Items] | |||||
Lease not yet commenced, term of contract | 8 years | 8 years |
Leases - Schedule of Other Leas
Leases - Schedule of Other Lease Information (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jul. 31, 2022 | Aug. 01, 2021 | |
Supplemental disclosures of cash flow information: | ||
Operating cash flows used for operating leases | $ 91 | $ 75 |
Operating lease assets obtained in exchange for lease obligations | $ 98 | $ 164 |
Stock-Based Compensation - Allo
Stock-Based Compensation - Allocation of Expense (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2022 | Aug. 01, 2021 | Jul. 31, 2022 | Aug. 01, 2021 | |
Share-based Compensation | ||||
Stock-based compensation expense | $ 649 | $ 465 | $ 1,227 | $ 894 |
Cost of revenue | ||||
Share-based Compensation | ||||
Stock-based compensation expense | 38 | 32 | 76 | 57 |
Research and development | ||||
Share-based Compensation | ||||
Stock-based compensation expense | 452 | 297 | 836 | 573 |
Sales, general and administrative | ||||
Share-based Compensation | ||||
Stock-based compensation expense | $ 159 | $ 136 | $ 315 | $ 264 |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of Equity Award Transactions (Details) shares in Millions | 6 Months Ended |
Jul. 31, 2022 $ / shares shares | |
Number of Shares | |
RSUs, PSUs and Market-based PSUs, outstanding, beginning balance (in shares) | shares | 46 |
RSUs, PSUs and Market-based PSUs, granted (in shares) | shares | 22 |
RSUs, PSUs and Market-based PSUs, Vested restricted stock (in shares) | shares | (11) |
RSUs, PSUs and Market-based PSUs, canceled and forfeited (in shares) | shares | (1) |
RSUs, PSUs and Market-based PSUs, outstanding, ending balance (in shares) | shares | 56 |
Weighted Average Grant-Date Fair Value Per Share | |
RSUs, PSUs and Market-based PSUs, weighted average grant date fair value, beginning balance (in dollars per share) | $ / shares | $ 114.19 |
RSUs, PSUs and Market-based PSUs, weighted average grant date fair value, granted (in dollars per share) | $ / shares | 187.51 |
RSUs, PSUs and Market-based PSUs, weighted average grant date fair value, Vested restricted stock (in dollars per share) | $ / shares | 86.77 |
RSUs, PSUs and Market-based PSUs, weighted average grant date fair value, canceled and forfeited (in dollars per share) | $ / shares | 131.19 |
RSUs, PSUs and Market-based PSUs, weighted average grant date fair value, ending balance (in dollars per share) | $ / shares | $ 148.43 |
Stock-Based Compensation - Narr
Stock-Based Compensation - Narrative (Details) $ in Millions | 6 Months Ended |
Jul. 31, 2022 USD ($) | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Unearned stock-based compensation expense | $ 7,610 |
RSUs, PSUs, and Market-based PSUs | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Estimated weighted average amortization period | 2 years 9 months 18 days |
Employee Stock Purchase Plan | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Estimated weighted average amortization period | 1 year |
Net Income Per Share (Details)
Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2022 | Aug. 01, 2021 | Jul. 31, 2022 | Aug. 01, 2021 | |
Numerator: | ||||
Net income | $ 656 | $ 2,374 | $ 2,274 | $ 4,285 |
Denominator: | ||||
Basic weighted average shares (in shares) | 2,495 | 2,493 | 2,500 | 2,489 |
Dilutive impact of outstanding equity awards (in shares) | 21 | 39 | 26 | 40 |
Diluted weighted average shares (in shares) | 2,516 | 2,532 | 2,526 | 2,529 |
Net income per share: | ||||
Basic (in dollars per share) | $ 0.26 | $ 0.95 | $ 0.91 | $ 1.72 |
Diluted (in dollars per share) | $ 0.26 | $ 0.94 | $ 0.90 | $ 1.69 |
Equity awards excluded from diluted net income per share because their effect would have been anti-dilutive (in shares) | 33 | 13 | 25 | 15 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2022 | Aug. 01, 2021 | Jul. 31, 2022 | Aug. 01, 2021 | |
Income Tax Disclosure [Abstract] | ||||
Income tax expense (benefit) | $ (181) | $ 20 | $ 6 | $ 153 |
Tax expense (benefit) as percentage of income before income tax | (38.00%) | 0.90% | 0.30% | 3.40% |
Cash Equivalents and Marketab_3
Cash Equivalents and Marketable Securities - Summary of Securities (Details) - USD ($) $ in Millions | Jul. 31, 2022 | Jan. 30, 2022 |
Summary of cash equivalents and marketable securities: | ||
Amortized Cost | $ 16,650 | $ 20,930 |
Unrealized Gain | 1 | 0 |
Unrealized Loss | (59) | (17) |
Estimated Fair Value | 16,592 | 20,913 |
Cash Equivalents | 2,569 | 1,695 |
Marketable Securities | 14,023 | 19,218 |
Corporate debt securities | ||
Summary of cash equivalents and marketable securities: | ||
Amortized Cost | 8,016 | 9,977 |
Unrealized Gain | 0 | 0 |
Unrealized Loss | (18) | (3) |
Estimated Fair Value | 7,998 | 9,974 |
Cash Equivalents | 1,115 | 1,102 |
Marketable Securities | 6,883 | 8,872 |
Debt securities issued by the United States Treasury | ||
Summary of cash equivalents and marketable securities: | ||
Amortized Cost | 4,068 | 7,314 |
Unrealized Gain | 1 | 0 |
Unrealized Loss | (39) | (14) |
Estimated Fair Value | 4,030 | 7,300 |
Cash Equivalents | 108 | 0 |
Marketable Securities | 3,922 | 7,300 |
Debt securities issued by United States government agencies | ||
Summary of cash equivalents and marketable securities: | ||
Amortized Cost | 3,056 | 1,612 |
Unrealized Gain | 0 | 0 |
Unrealized Loss | (2) | 0 |
Estimated Fair Value | 3,054 | 1,612 |
Cash Equivalents | 564 | 256 |
Marketable Securities | 2,490 | 1,356 |
Certificates of deposit | ||
Summary of cash equivalents and marketable securities: | ||
Amortized Cost | 856 | 1,561 |
Unrealized Gain | 0 | 0 |
Unrealized Loss | 0 | 0 |
Estimated Fair Value | 856 | 1,561 |
Cash Equivalents | 128 | 21 |
Marketable Securities | 728 | 1,540 |
Money market funds | ||
Summary of cash equivalents and marketable securities: | ||
Amortized Cost | 639 | 316 |
Unrealized Gain | 0 | 0 |
Unrealized Loss | 0 | 0 |
Estimated Fair Value | 639 | 316 |
Cash Equivalents | 639 | 316 |
Marketable Securities | 0 | 0 |
Foreign government bonds | ||
Summary of cash equivalents and marketable securities: | ||
Amortized Cost | 15 | 150 |
Unrealized Gain | 0 | 0 |
Unrealized Loss | 0 | 0 |
Estimated Fair Value | 15 | 150 |
Cash Equivalents | 15 | 0 |
Marketable Securities | $ 0 | $ 150 |
Cash Equivalents and Marketab_4
Cash Equivalents and Marketable Securities - Unrealized Losses Aggregated by Investment Category (Details) - USD ($) $ in Millions | Jul. 31, 2022 | Jan. 30, 2022 |
Estimated Fair Value | ||
Less than 12 Months | $ 7,030 | $ 7,737 |
12 Months or Greater | 105 | 19 |
Total | 7,135 | 7,756 |
Gross Unrealized Loss | ||
Less than 12 Months | (58) | (17) |
12 Months or Greater | (1) | 0 |
Total | (59) | (17) |
Debt securities issued by the United States Treasury | ||
Estimated Fair Value | ||
Less than 12 Months | 2,793 | 5,292 |
12 Months or Greater | 0 | 0 |
Total | 2,793 | 5,292 |
Gross Unrealized Loss | ||
Less than 12 Months | (39) | (14) |
12 Months or Greater | 0 | 0 |
Total | (39) | (14) |
Debt securities issued by United States government agencies | ||
Estimated Fair Value | ||
Less than 12 Months | 2,312 | |
12 Months or Greater | 0 | |
Total | 2,312 | |
Gross Unrealized Loss | ||
Less than 12 Months | (2) | |
12 Months or Greater | 0 | |
Total | (2) | |
Corporate debt securities | ||
Estimated Fair Value | ||
Less than 12 Months | 1,925 | 2,445 |
12 Months or Greater | 105 | 19 |
Total | 2,030 | 2,464 |
Gross Unrealized Loss | ||
Less than 12 Months | (17) | (3) |
12 Months or Greater | (1) | 0 |
Total | $ (18) | $ (3) |
Cash Equivalents and Marketab_5
Cash Equivalents and Marketable Securities - Amortized Cost and Estimated Fair Value of Cash Equivalents and Marketable Securities (Details) - USD ($) $ in Millions | Jul. 31, 2022 | Jan. 30, 2022 |
Amortized Cost | ||
Less than one year | $ 12,628 | $ 16,346 |
Due in 1 - 5 years | 4,022 | 4,584 |
Amortized Cost | 16,650 | 20,930 |
Estimated Fair Value | ||
Less than one year | 12,607 | 16,343 |
Due in 1 - 5 years | 3,985 | 4,570 |
Estimated Fair Value | $ 16,592 | $ 20,913 |
Fair Value of Financial Asset_3
Fair Value of Financial Assets and Liabilities (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2022 | Aug. 01, 2021 | Jul. 31, 2022 | Aug. 01, 2021 | Jan. 30, 2022 | |
Cash equivalents and marketable securities: | |||||
Cash equivalents and marketable securities | $ 16,592 | $ 16,592 | $ 20,913 | ||
Other assets (Investment in non-affiliated entities): | |||||
Investment in non-affiliated entities | 307 | 307 | 266 | ||
Liabilities | |||||
Unrealized loss recognized during the period | $ 7 | $ 6 | $ 31 | ||
Unrealized gain recognized during the period | $ 118 | ||||
0.309% Notes Due 2023 | |||||
Liabilities | |||||
Stated interest rate | 0.309% | 0.309% | |||
0.584% Notes Due 2024 | |||||
Liabilities | |||||
Stated interest rate | 0.584% | 0.584% | |||
3.20% Notes Due 2026 | |||||
Liabilities | |||||
Stated interest rate | 3.20% | 3.20% | |||
1.55% Notes Due 2028 | |||||
Liabilities | |||||
Stated interest rate | 1.55% | 1.55% | |||
2.85% Notes Due 2030 | |||||
Liabilities | |||||
Stated interest rate | 2.85% | 2.85% | |||
2.00% Notes Due 2031 | |||||
Liabilities | |||||
Stated interest rate | 2% | 2% | |||
3.50% Notes Due 2040 | |||||
Liabilities | |||||
Stated interest rate | 3.50% | 3.50% | |||
3.50% Notes Due 2050 | |||||
Liabilities | |||||
Stated interest rate | 3.50% | 3.50% | |||
3.70% Notes Due 2060 | |||||
Liabilities | |||||
Stated interest rate | 3.70% | 3.70% | |||
Money market funds | |||||
Cash equivalents and marketable securities: | |||||
Cash equivalents and marketable securities | $ 639 | $ 639 | 316 | ||
Corporate debt securities | |||||
Cash equivalents and marketable securities: | |||||
Cash equivalents and marketable securities | 7,998 | 7,998 | 9,974 | ||
Debt securities issued by the United States Treasury | |||||
Cash equivalents and marketable securities: | |||||
Cash equivalents and marketable securities | 4,030 | 4,030 | 7,300 | ||
Debt securities issued by United States government agencies | |||||
Cash equivalents and marketable securities: | |||||
Cash equivalents and marketable securities | 3,054 | 3,054 | 1,612 | ||
Certificates of deposit | |||||
Cash equivalents and marketable securities: | |||||
Cash equivalents and marketable securities | 856 | 856 | 1,561 | ||
Foreign government bonds | |||||
Cash equivalents and marketable securities: | |||||
Cash equivalents and marketable securities | 15 | 15 | 150 | ||
Level 1 | Money market funds | |||||
Cash equivalents and marketable securities: | |||||
Cash equivalents and marketable securities | 639 | 639 | 316 | ||
Level 1 | Publicly-held equity securities | |||||
Other assets (Investment in non-affiliated entities): | |||||
Investment in non-affiliated entities | 41 | 41 | 58 | ||
Level 2 | 0.309% Notes Due 2023 | |||||
Liabilities | |||||
Notes | 1,220 | 1,220 | 1,236 | ||
Level 2 | 0.584% Notes Due 2024 | |||||
Liabilities | |||||
Notes | 1,193 | 1,193 | 1,224 | ||
Level 2 | 3.20% Notes Due 2026 | |||||
Liabilities | |||||
Notes | 1,013 | 1,013 | 1,055 | ||
Level 2 | 1.55% Notes Due 2028 | |||||
Liabilities | |||||
Notes | 1,136 | 1,136 | 1,200 | ||
Level 2 | 2.85% Notes Due 2030 | |||||
Liabilities | |||||
Notes | 1,431 | 1,431 | 1,542 | ||
Level 2 | 2.00% Notes Due 2031 | |||||
Liabilities | |||||
Notes | 1,116 | 1,116 | 1,200 | ||
Level 2 | 3.50% Notes Due 2040 | |||||
Liabilities | |||||
Notes | 927 | 927 | 1,066 | ||
Level 2 | 3.50% Notes Due 2050 | |||||
Liabilities | |||||
Notes | 1,815 | 1,815 | 2,147 | ||
Level 2 | 3.70% Notes Due 2060 | |||||
Liabilities | |||||
Notes | 451 | 451 | 551 | ||
Level 2 | Corporate debt securities | |||||
Cash equivalents and marketable securities: | |||||
Cash equivalents and marketable securities | 7,998 | 7,998 | 9,974 | ||
Level 2 | Debt securities issued by the United States Treasury | |||||
Cash equivalents and marketable securities: | |||||
Cash equivalents and marketable securities | 4,030 | 4,030 | 7,300 | ||
Level 2 | Debt securities issued by United States government agencies | |||||
Cash equivalents and marketable securities: | |||||
Cash equivalents and marketable securities | 3,054 | 3,054 | 1,612 | ||
Level 2 | Certificates of deposit | |||||
Cash equivalents and marketable securities: | |||||
Cash equivalents and marketable securities | 856 | 856 | 1,561 | ||
Level 2 | Foreign government bonds | |||||
Cash equivalents and marketable securities: | |||||
Cash equivalents and marketable securities | 15 | 15 | 150 | ||
Level 3 | Privately-held equity securities | |||||
Other assets (Investment in non-affiliated entities): | |||||
Investment in non-affiliated entities | $ 266 | $ 266 | $ 208 |
Amortizable Intangible Assets_3
Amortizable Intangible Assets and Goodwill (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jul. 31, 2022 | Aug. 01, 2021 | Jul. 31, 2022 | Aug. 01, 2021 | Jan. 30, 2022 | |
Amortizable intangible assets components | |||||
Gross Carrying Amount | $ 3,978 | $ 3,978 | $ 4,135 | ||
Accumulated Amortization | (1,942) | (1,942) | (1,796) | ||
Net Carrying Amount | 2,036 | 2,036 | 2,339 | ||
Amortization expense | 182 | $ 138 | 336 | $ 275 | |
Increase in carrying amount of goodwill | 23 | ||||
Increase in carrying amount of intangible assets | 32 | ||||
Future amortization expense associated with intangible assets | |||||
Remainder of fiscal year 2023 | 364 | 364 | |||
Fiscal 2024 | 601 | 601 | |||
Fiscal 2025 | 539 | 539 | |||
Fiscal 2026 | 245 | 245 | |||
Fiscal 2027 | 141 | 141 | |||
Fiscal 2028 and thereafter | 146 | 146 | |||
Compute & Networking | |||||
Amortizable intangible assets components | |||||
Increase in carrying amount of goodwill | 14 | ||||
Graphics | |||||
Amortizable intangible assets components | |||||
Increase in carrying amount of goodwill | 9 | ||||
Acquisition-related intangible assets | |||||
Amortizable intangible assets components | |||||
Gross Carrying Amount | 3,260 | 3,260 | 3,418 | ||
Accumulated Amortization | (1,434) | (1,434) | (1,304) | ||
Net Carrying Amount | 1,826 | 1,826 | 2,114 | ||
Patents and licensed technology | |||||
Amortizable intangible assets components | |||||
Gross Carrying Amount | 718 | 718 | 717 | ||
Accumulated Amortization | (508) | (508) | (492) | ||
Net Carrying Amount | $ 210 | $ 210 | 225 | ||
In-process Research and Development | Mellanox Technologies, Ltd | |||||
Amortizable intangible assets components | |||||
IPR&D | $ 630 |
Balance Sheet Components - Inve
Balance Sheet Components - Inventory (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jul. 31, 2022 | Jan. 30, 2022 | |
Inventories: | ||
Raw materials | $ 1,534 | $ 791 |
Work in-process | 767 | 692 |
Finished goods | 1,588 | 1,122 |
Total inventories | 3,889 | $ 2,605 |
Inventory reserve expense | $ 570 |
Balance Sheet Components - Othe
Balance Sheet Components - Other Assets (Details) - USD ($) $ in Millions | Jul. 31, 2022 | Jan. 30, 2022 |
Other assets: | ||
Prepaid supply agreements | $ 2,523 | $ 1,747 |
Prepaid royalties | 399 | 409 |
Investment in non-affiliated entities | 307 | 266 |
Advanced consideration for acquisition | 0 | 1,353 |
Other | 111 | 66 |
Total other assets | $ 3,340 | $ 3,841 |
Balance Sheet Components - Accr
Balance Sheet Components - Accrued and Other Current Liabilities (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jul. 31, 2022 | Jan. 30, 2022 | |
Accrued and Other Current Liabilities: | ||
Customer program accruals | $ 1,463 | $ 1,000 |
Excess inventory purchase obligations | 866 | 196 |
Accrued payroll and related expenses | 421 | 409 |
Deferred revenue | 359 | 300 |
Product warranty | 168 | 46 |
Taxes payable | 158 | 132 |
Other | 468 | 469 |
Total accrued and other current liabilities | 3,903 | $ 2,552 |
Expense for inventory purchase obligations | $ 650 |
Balance Sheet Components - Ot_2
Balance Sheet Components - Other Long-Term Liabilities (Details) - USD ($) $ in Millions | Jul. 31, 2022 | Jan. 30, 2022 |
Other Long-Term Liabilities: | ||
Income taxes payable | $ 1,022 | $ 980 |
Deferred income tax | 252 | 245 |
Deferred revenue | 201 | 202 |
Other | 134 | 126 |
Total other long-term liabilities | 1,609 | 1,553 |
One time transition tax payable, noncurrent | 188 | 251 |
Unrecognized tax benefits | 762 | 670 |
Interest and penalties related to unrecognized tax benefits | $ 72 | $ 59 |
Balance Sheet Components - Chan
Balance Sheet Components - Change in Deferred Revenue (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jul. 31, 2022 | Aug. 01, 2021 | |
Change in Deferred Revenue | ||
Balance at beginning of period | $ 502 | $ 451 |
Deferred revenue additions during the period | 399 | 401 |
Revenue recognized during the period | (341) | (362) |
Balance at end of period | $ 560 | $ 490 |
Balance Sheet Components - Reve
Balance Sheet Components - Revenue Remaining Performance Obligation (Details) $ in Millions | Jul. 31, 2022 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation | $ 645 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-08-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation (as a percent) | 48% |
Expected performance period | 12 months |
Derivative Financial Instrume_3
Derivative Financial Instruments - Notional Values (Details) - USD ($) $ in Millions | Jul. 31, 2022 | Jan. 30, 2022 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Designated as cash flow hedges | $ 1,090 | $ 1,023 |
Not designated for hedge accounting | $ 378 | $ 408 |
Derivative Financial Instrume_4
Derivative Financial Instruments - Narrative (Details) | 6 Months Ended |
Jul. 31, 2022 | |
Foreign currency forward contracts | |
Derivative [Line Items] | |
Maximum maturity period | 18 months |
Debt - Schedule of Instruments
Debt - Schedule of Instruments (Details) - USD ($) $ in Millions | 6 Months Ended | |
Jul. 31, 2022 | Jan. 30, 2022 | |
Debt Instrument [Line Items] | ||
Unamortized debt discount and issuance costs | $ (51) | $ (54) |
Net carrying amount | 10,949 | 10,946 |
Less short-term portion | (1,249) | 0 |
Long-term debt | $ 9,700 | 10,946 |
0.309% Notes Due 2023 | ||
Debt Instrument [Line Items] | ||
Interest rate (as percent) | 0.309% | |
Expected Remaining Term (years) | 10 months 24 days | |
Effective Interest Rate (as percent) | 0.41% | |
Gross carrying amount | $ 1,250 | 1,250 |
0.584% Notes Due 2024 | ||
Debt Instrument [Line Items] | ||
Interest rate (as percent) | 0.584% | |
Expected Remaining Term (years) | 1 year 10 months 24 days | |
Effective Interest Rate (as percent) | 0.66% | |
Gross carrying amount | $ 1,250 | 1,250 |
3.20% Notes Due 2026 | ||
Debt Instrument [Line Items] | ||
Interest rate (as percent) | 3.20% | |
Expected Remaining Term (years) | 4 years 1 month 6 days | |
Effective Interest Rate (as percent) | 3.31% | |
Gross carrying amount | $ 1,000 | 1,000 |
1.55% Notes Due 2028 | ||
Debt Instrument [Line Items] | ||
Interest rate (as percent) | 1.55% | |
Expected Remaining Term (years) | 5 years 10 months 24 days | |
Effective Interest Rate (as percent) | 1.64% | |
Gross carrying amount | $ 1,250 | 1,250 |
2.85% Notes Due 2030 | ||
Debt Instrument [Line Items] | ||
Interest rate (as percent) | 2.85% | |
Expected Remaining Term (years) | 7 years 8 months 12 days | |
Effective Interest Rate (as percent) | 2.93% | |
Gross carrying amount | $ 1,500 | 1,500 |
2.00% Notes Due 2031 | ||
Debt Instrument [Line Items] | ||
Interest rate (as percent) | 2% | |
Expected Remaining Term (years) | 8 years 10 months 24 days | |
Effective Interest Rate (as percent) | 2.09% | |
Gross carrying amount | $ 1,250 | 1,250 |
3.50% Notes Due 2040 | ||
Debt Instrument [Line Items] | ||
Interest rate (as percent) | 3.50% | |
Expected Remaining Term (years) | 17 years 8 months 12 days | |
Effective Interest Rate (as percent) | 3.54% | |
Gross carrying amount | $ 1,000 | 1,000 |
3.50% Notes Due 2050 | ||
Debt Instrument [Line Items] | ||
Interest rate (as percent) | 3.50% | |
Expected Remaining Term (years) | 27 years 8 months 12 days | |
Effective Interest Rate (as percent) | 3.54% | |
Gross carrying amount | $ 2,000 | 2,000 |
3.70% Notes Due 2060 | ||
Debt Instrument [Line Items] | ||
Interest rate (as percent) | 3.70% | |
Expected Remaining Term (years) | 37 years 8 months 12 days | |
Effective Interest Rate (as percent) | 3.73% | |
Gross carrying amount | $ 500 | $ 500 |
Debt - Narrative (Details)
Debt - Narrative (Details) | Jul. 31, 2022 USD ($) |
Debt Instrument [Line Items] | |
Outstanding commercial paper | $ 0 |
Commercial Paper | |
Debt Instrument [Line Items] | |
Current borrowing capacity | $ 575,000,000 |
Commitments and Contingencies -
Commitments and Contingencies - Narrative (Details) - USD ($) | 1 Months Ended | 3 Months Ended | |||||
May 31, 2022 | Jul. 31, 2022 | May 01, 2022 | Jan. 30, 2022 | Aug. 01, 2021 | May 02, 2021 | Jan. 31, 2021 | |
Loss Contingencies [Line Items] | |||||||
Supply agreements | $ 929,000,000 | ||||||
Inventory purchase and long-term supply agreements | 9,220,000,000 | ||||||
Other purchase obligations | 1,360,000,000 | ||||||
Warranty accrual | 168,000,000 | $ 55,000,000 | $ 46,000,000 | $ 31,000,000 | $ 30,000,000 | $ 22,000,000 | |
Change in product warranty liabilities | $ 122,000,000 | ||||||
Administrative Order Issued By The SEC | |||||||
Loss Contingencies [Line Items] | |||||||
Civil penalty | $ 5,500,000 |
Commitments and Contingencies_2
Commitments and Contingencies - Summary of Future Commitments Due by Year (Details) $ in Millions | Jul. 31, 2022 USD ($) |
Fiscal Year: | |
2023 (excluding first half of fiscal year 2023) | $ 7,108 |
2024 | 2,730 |
2025 | 295 |
2026 | 49 |
2027 | 71 |
2028 and thereafter | 331 |
Total | $ 10,584 |
Commitments and Contingencies_3
Commitments and Contingencies - Schedule of Product Warranty Liabilities (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2022 | Aug. 01, 2021 | Jul. 31, 2022 | Aug. 01, 2021 | |
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward] | ||||
Beginning Balance | $ 55 | $ 30 | $ 46 | $ 22 |
Additions | 122 | 4 | 138 | 15 |
Deductions | (9) | (3) | (16) | (6) |
Ending Balance | $ 168 | $ 31 | $ 168 | $ 31 |
Shareholders' Equity (Details)
Shareholders' Equity (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2022 | Aug. 01, 2021 | Jul. 31, 2022 | Aug. 01, 2021 | |
Equity [Abstract] | ||||
Number of share repurchased (in shares) | 19 | 28 | ||
Shares repurchased | $ 3,345 | $ 5,341 | ||
Aggregated number of shares repurchased under stock repurchase program (in shares) | 1,070 | 1,070 | ||
Aggregated cost of shares repurchased | $ 12,420 | $ 12,420 | ||
Remaining authorized repurchase amount | 11,930 | 11,930 | ||
Dividends paid | $ 100 | $ 100 | $ 200 | $ 198 |
Segment Information - Summary o
Segment Information - Summary of Segments (Details) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2022 USD ($) | Aug. 01, 2021 USD ($) | Jul. 31, 2022 USD ($) segment | Aug. 01, 2021 USD ($) | |
Segment Reporting [Abstract] | ||||
Number of reportable segments | segment | 2 | |||
Segment Reporting Information [Line Items] | ||||
Revenue | $ 6,704 | $ 6,507 | $ 14,992 | $ 12,168 |
Operating income (loss) | 499 | 2,444 | 2,367 | 4,400 |
Operating Segments | Graphics | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 2,797 | 3,907 | 7,413 | 7,358 |
Operating income (loss) | 657 | 2,127 | 3,133 | 3,913 |
Operating Segments | Compute & Networking | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 3,907 | 2,600 | 7,579 | 4,810 |
Operating income (loss) | 816 | 1,034 | 2,422 | 1,895 |
All Other | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 0 | 0 | 0 | 0 |
Operating income (loss) | $ (974) | $ (717) | $ (3,188) | $ (1,408) |
Segment Information - Reconcili
Segment Information - Reconciling Items (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2022 | Aug. 01, 2021 | Jul. 31, 2022 | Aug. 01, 2021 | |
Segment Reporting Information [Line Items] | ||||
Stock-based compensation expense | $ (1,226) | $ (894) | ||
Income from operations | $ 499 | $ 2,444 | 2,367 | 4,400 |
All Other | ||||
Segment Reporting Information [Line Items] | ||||
Stock-based compensation expense | (649) | (465) | (1,227) | (894) |
Acquisition-related and other costs | (175) | (158) | (324) | (325) |
Unallocated cost of revenue and operating expenses | (148) | (90) | (275) | (180) |
Contributions | (2) | 0 | (2) | 0 |
IP-related and legal settlement costs | 0 | (4) | (7) | (9) |
Acquisition termination cost | 0 | 0 | (1,353) | 0 |
Income from operations | $ (974) | $ (717) | $ (3,188) | $ (1,408) |
Segment Information - Revenue (
Segment Information - Revenue (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2022 | Aug. 01, 2021 | Jul. 31, 2022 | Aug. 01, 2021 | |
Revenues | ||||
Revenue | $ 6,704 | $ 6,507 | $ 14,992 | $ 12,168 |
United States | ||||
Revenues | ||||
Revenue | 1,988 | 996 | 3,921 | 1,764 |
China (including Hong Kong) | ||||
Revenues | ||||
Revenue | 1,602 | 1,720 | 3,683 | 3,111 |
Taiwan | ||||
Revenues | ||||
Revenue | 1,204 | 1,961 | 3,981 | 3,745 |
Other countries | ||||
Revenues | ||||
Revenue | $ 1,910 | $ 1,830 | $ 3,407 | $ 3,548 |
Segment Information - Schedule
Segment Information - Schedule of Revenue by Market (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2022 | Aug. 01, 2021 | Jul. 31, 2022 | Aug. 01, 2021 | |
Revenue from External Customer [Line Items] | ||||
Revenue | $ 6,704 | $ 6,507 | $ 14,992 | $ 12,168 |
Gaming | ||||
Revenue from External Customer [Line Items] | ||||
Revenue | 2,042 | 3,061 | 5,662 | 5,821 |
Data Center | ||||
Revenue from External Customer [Line Items] | ||||
Revenue | 3,806 | 2,366 | 7,556 | 4,414 |
Professional Visualization | ||||
Revenue from External Customer [Line Items] | ||||
Revenue | 496 | 519 | 1,118 | 891 |
Automotive | ||||
Revenue from External Customer [Line Items] | ||||
Revenue | 220 | 152 | 358 | 306 |
OEM and Other | ||||
Revenue from External Customer [Line Items] | ||||
Revenue | $ 140 | $ 409 | $ 298 | $ 736 |
Segment Information - Concentra
Segment Information - Concentration Risk (Details) | 6 Months Ended | 12 Months Ended |
Jul. 31, 2022 | Jan. 30, 2022 | |
Accounts Receivable | Customer Concentration Risk | Two Customers | ||
Revenue, Major Customer [Line Items] | ||
Concentration risk (as percent) | 21% | 22% |