NVIDIA CORP, 10-Q filed on 11/18/2022
Quarterly Report
v3.22.2.2
Cover - shares
shares in Millions
9 Months Ended
Oct. 30, 2022
Nov. 11, 2022
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Oct. 30, 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, $0.001 par value per share  
Trading Symbol NVDA  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   2,460
Entity Central Index Key 0001045810  
Current Fiscal Year End Date --01-29  
Document Fiscal Year Focus 2023  
Document Fiscal Period Focus Q3  
Amendment Flag false  
v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Oct. 30, 2022
Oct. 31, 2021
Oct. 30, 2022
Oct. 31, 2021
Income Statement [Abstract]        
Revenue $ 5,931 $ 7,103 $ 20,923 $ 19,271
Cost of revenue 2,754 2,472 9,400 6,795
Gross profit 3,177 4,631 11,523 12,476
Operating expenses        
Research and development 1,945 1,403 5,387 3,802
Sales, general and administrative 631 557 1,815 1,603
Acquisition termination cost 0 0 1,353 0
Total operating expenses 2,576 1,960 8,555 5,405
Income from operations 601 2,671 2,968 7,071
Interest income 88 7 152 20
Interest expense (65) (62) (198) (175)
Other, net (11) 22 (29) 160
Other income (expense), net 12 (33) (75) 5
Income before income tax 613 2,638 2,893 7,076
Income tax expense (benefit) (67) 174 (61) 327
Net income $ 680 $ 2,464 $ 2,954 $ 6,749
Net income per share:        
Basic (in dollars per share) $ 0.27 $ 0.99 $ 1.18 $ 2.71
Diluted (in dollars per share) $ 0.27 $ 0.97 $ 1.17 $ 2.67
Weighted average shares used in per share computation:        
Basic (in shares) 2,483 2,499 2,495 2,493
Diluted (in shares) 2,499 2,538 2,517 2,532
v3.22.2.2
CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 30, 2022
Oct. 31, 2021
Oct. 30, 2022
Oct. 31, 2021
Statement of Comprehensive Income [Abstract]        
Net income $ 680 $ 2,464 $ 2,954 $ 6,749
Available-for-sale securities:        
Net change in unrealized loss (18) (4) (53) (5)
Reclassification adjustments for net realized gain included in net income 0 0 1 0
Net change in unrealized loss (18) (4) (52) (5)
Cash flow hedges:        
Net unrealized gain (loss) (14) 22 (44) (5)
Reclassification adjustments for net realized loss included in net income (1) (17) (16) 0
Net change in unrealized gain (loss) (15) 5 (60) (5)
Other comprehensive income (loss), net of tax (33) 1 (112) (10)
Total comprehensive income $ 647 $ 2,465 $ 2,842 $ 6,739
v3.22.2.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Oct. 30, 2022
Jan. 30, 2022
Current assets:    
Cash and cash equivalents $ 2,800 $ 1,990
Marketable securities 10,343 19,218
Accounts receivable, net 4,908 4,650
Inventories 4,454 2,605
Prepaid expenses and other current assets 718 366
Total current assets 23,223 28,829
Property and equipment, net 3,774 2,778
Operating lease assets 927 829
Goodwill 4,372 4,349
Intangible assets, net 1,850 2,339
Deferred income tax assets 2,762 1,222
Other assets 3,580 3,841
Total assets 40,488 44,187
Current liabilities:    
Accounts payable 1,491 1,783
Accrued and other current liabilities 4,115 2,552
Short-term debt 1,249 0
Total current liabilities 6,855 4,335
Long-term debt 9,701 10,946
Long-term operating lease liabilities 798 741
Other long-term liabilities 1,785 1,553
Total liabilities 19,139 17,575
Commitments and contingencies - see Note 13
Shareholders’ equity:    
Preferred stock 0 0
Common stock 2 3
Additional paid-in capital 11,565 10,385
Accumulated other comprehensive loss (123) (11)
Retained earnings 9,905 16,235
Total shareholders' equity 21,349 26,612
Total liabilities and shareholders' equity $ 40,488 $ 44,187
v3.22.2.2
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 6,749         6,749
Other comprehensive income (loss) (10)       (10)  
Issuance of common stock from stock plans (in shares)   30        
Issuance of common stock from stock plans  277   277      
Tax withholding related to vesting of restricted stock units (in shares)   (7)        
Tax withholding related to vesting of restricted stock units (1,282)     (1,282)    
Cash dividends declared and paid (298)         (298)
Fair value of partially vested equity awards assumed in connection with acquisitions 18   18      
Stock-based compensation 1,451   1,451      
Ending balance, common stock outstanding (in shares) at Oct. 31, 2021   2,502        
Ending balances, shareholders' equity at Oct. 31, 2021 23,798 $ 3 10,465 (12,038) 9 25,359
Beginning balance, common stock outstanding (in shares) at Aug. 01, 2021   2,496        
Beginning balances, shareholders' equity at Aug. 01, 2021 21,147 $ 3 9,745 (11,604) 8 22,995
Increase (Decrease) in Shareholders' Equity            
Net income 2,464         2,464
Other comprehensive income (loss) 1       1  
Issuance of common stock from stock plans (in shares)   8        
Issuance of common stock from stock plans  150   150      
Tax withholding related to vesting of restricted stock units (in shares)   (2)        
Tax withholding related to vesting of restricted stock units (434)     (434)    
Cash dividends declared and paid (100)         (100)
Fair value of partially vested equity awards assumed in connection with acquisitions 18   18      
Stock-based compensation 552   552      
Ending balance, common stock outstanding (in shares) at Oct. 31, 2021   2,502        
Ending balances, shareholders' equity at Oct. 31, 2021 23,798 $ 3 10,465 (12,038) 9 25,359
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 2,954         2,954
Other comprehensive income (loss) (112)       (112)  
Issuance of common stock from stock plans (in shares)   24        
Issuance of common stock from stock plans  349   349      
Tax withholding related to vesting of restricted stock units (in shares)   (6)        
Tax withholding related to vesting of restricted stock units $ (1,131)   (1,131)      
Shares repurchased (in shares) (56) (56)        
Shares repurchased $ (8,988) $ (1) (3)     (8,984)
Cash dividends declared and paid (300)         (300)
Stock-based compensation 1,965   1,965      
Ending balance, common stock outstanding (in shares) at Oct. 30, 2022   2,468        
Ending balances, shareholders' equity at Oct. 30, 2022 21,349 $ 2 11,565 0 (123) 9,905
Beginning balance, common stock outstanding (in shares) at Jul. 31, 2022   2,489        
Beginning balances, shareholders' equity at Jul. 31, 2022 23,851 $ 2 10,968 0 (90) 12,971
Increase (Decrease) in Shareholders' Equity            
Net income 680         680
Other comprehensive income (loss) (33)       (33)  
Issuance of common stock from stock plans (in shares)   9        
Issuance of common stock from stock plans  143   143      
Tax withholding related to vesting of restricted stock units (in shares)   (2)        
Tax withholding related to vesting of restricted stock units $ (294)   (294)      
Shares repurchased (in shares) (28) (28)        
Shares repurchased $ (3,647) $ 0 (1)     (3,646)
Cash dividends declared and paid (100)         (100)
Stock-based compensation 749   749      
Ending balance, common stock outstanding (in shares) at Oct. 30, 2022   2,468        
Ending balances, shareholders' equity at Oct. 30, 2022 $ 21,349 $ 2 $ 11,565 $ 0 $ (123) $ 9,905
v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS’ EQUITY (Parenthetical) - $ / shares
3 Months Ended 9 Months Ended
Oct. 30, 2022
Oct. 31, 2021
Oct. 30, 2022
Oct. 31, 2021
Statement of Stockholders' Equity [Abstract]        
Common stock, dividends per share, declared and paid (in dollars per share) $ 0.04 $ 0.04 $ 0.12 $ 0.12
v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Oct. 30, 2022
Oct. 31, 2021
Cash flows from operating activities:    
Net income $ 2,954 $ 6,749
Adjustments to reconcile net income to net cash provided by operating activities:    
Stock-based compensation expense 1,971 1,453
Acquisition termination cost 1,353 0
Depreciation and amortization 1,118 865
Losses (gains) on investments in non-affiliates, net 35 (152)
Deferred income taxes (1,517) (182)
Other (27) 25
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (258) (1,523)
Inventories (1,848) (400)
Prepaid expenses and other assets (1,307) (1,557)
Accounts payable (358) 385
Accrued and other current liabilities 1,175 159
Other long-term liabilities 102 253
Net cash provided by operating activities 3,393 6,075
Cash flows from investing activities:    
Proceeds from maturities of marketable securities 16,792 7,780
Proceeds from sales of marketable securities 1,806 916
Purchases of marketable securities (9,764) (16,020)
Purchases related to property and equipment and intangible assets (1,324) (703)
Acquisitions, net of cash acquired (49) (203)
Investments and other, net (83) (14)
Net cash provided by (used in) investing activities 7,378 (8,244)
Cash flows from financing activities:    
Proceeds related to employee stock plans 349 277
Payments related to repurchases of common stock (8,826) 0
Payments related to tax on restricted stock units (1,131) (1,282)
Dividends paid (300) (298)
Principal payments on property and equipment and intangible asset (54) (62)
Issuance of debt, net of issuance costs 0 4,977
Repayment of debt 0 (1,000)
Other 1 (2)
Net cash provided by (used in) financing activities (9,961) 2,610
Change in cash and cash equivalents 810 441
Cash and cash equivalents at beginning of period 1,990 847
Cash and cash equivalents at end of period 2,800 1,288
Supplemental disclosures of cash flow information:    
Cash paid for income taxes, net $ 1,372 $ 313
v3.22.2.2
Summary of Significant Accounting Policies
9 Months Ended
Oct. 30, 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 third 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.
Prior period intangible asset gross carrying amount and accumulated amortization in Note 9 have been adjusted to write off immaterial fully amortized intangible assets as of January 30, 2022.
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.
v3.22.2.2
Business Combination
9 Months Ended
Oct. 30, 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.
v3.22.2.2
Leases
9 Months Ended
Oct. 30, 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 October 30, 2022 are as follows:
Operating Lease Obligations
 (In millions)
Fiscal Year: 
2023 (excluding first nine months of fiscal year 2023)
$50 
2024188 
2025167 
2026149 
2027137 
2028 and thereafter
393 
Total1,084 
Less imputed interest130 
Present value of net future minimum lease payments954 
Less short-term operating lease liabilities156 
Long-term operating lease liabilities$798 
In addition to our existing operating lease obligations, we have operating leases, primarily for our data centers, that are expected to commence between the fourth quarter of fiscal year 2023 and fiscal year 2025 with lease terms of 2 to 8 years for $647 million.
Operating lease expenses were $49 million and $44 million for the third quarter of fiscal years 2023 and 2022, respectively, and $139 million and $125 million for the first nine months of fiscal years 2023 and 2022, respectively. Short-term and variable lease expenses for the third quarter and first nine months of fiscal years 2023 and 2022 were not significant.
Other information related to leases was as follows:
Nine Months Ended
October 30, 2022October 31, 2021
 (In millions)
Supplemental cash flows information 
Operating cash flows used for operating leases$134 $114 
Operating lease assets obtained in exchange for lease obligations$213 $230 
As of October 30, 2022, our operating leases had a weighted average remaining lease term of 6.9 years and a weighted average discount rate of 2.82%. As of January 30, 2022, our operating leases had a weighted average remaining lease term of 7.1 years and a weighted average discount rate of 2.51%.
v3.22.2.2
Stock-Based Compensation
9 Months Ended
Oct. 30, 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 EndedNine Months Ended
 October 30,
2022
October 31,
2021
October 30,
2022
October 31,
2021
(In millions)
Cost of revenue$32 $44 $108 $102 
Research and development530 363 1,365 935 
Sales, general and administrative183 152 498 416 
Total$745 $559 $1,971 $1,453 
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 SharesWeighted Average Grant-Date Fair Value Per Share
(In millions, except per share data)
Balances, January 30, 202246 $114.19 
Granted23 $185.07 
Vested restricted stock(18)$94.82 
Canceled and forfeited(1)$137.27 
Balances, October 30, 202250 $153.73 
As of October 30, 2022, there was $7.19 billion of aggregate unearned stock-based compensation expense. This amount is expected to be recognized over a weighted average period of 2.7 years for RSUs, PSUs, and market-based PSUs, and 1.1 years for ESPP.
v3.22.2.2
Net Income Per Share
9 Months Ended
Oct. 30, 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 EndedNine Months Ended
October 30,October 31,October 30,October 31,
2022202120222021
 (In millions, except per share data)
Numerator:  
Net income
$680 $2,464 $2,954 $6,749 
Denominator:
Basic weighted average shares
2,483 2,499 2,495 2,493 
Dilutive impact of outstanding
equity awards
16 39 22 39 
Diluted weighted average shares
2,499 2,538 2,517 2,532 
Net income per share:
Basic (1)
$0.27 $0.99 $1.18 $2.71 
Diluted (2)
$0.27 $0.97 $1.17 $2.67 
Equity awards excluded from diluted net income per share because their effect would have been anti-dilutive36 29 21 
(1)    Calculated as net income divided by basic weighted average shares.
(2)    Calculated as net income divided by diluted weighted average shares.
v3.22.2.2
Income Taxes
9 Months Ended
Oct. 30, 2022
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
We recognized an income tax benefit of $67 million and $61 million for the third quarter and first nine months of fiscal year 2023, respectively, and an income tax expense of $174 million and $327 million for the third quarter and first nine months of fiscal year 2022, respectively. Income tax as a percentage of income before income tax was a benefit of 10.9% and 2.1% for the third quarter and first nine months of fiscal year 2023, respectively, and an expense of 6.6% and 4.6% for the third quarter and first nine months of fiscal year 2022, respectively.
The decrease in our effective tax rate for the third quarter and first nine months of fiscal year 2023 as compared to the same periods of fiscal year 2022 was primarily due to the increased tax benefit of the foreign-derived intangible income deduction, stock-based compensation, and the U.S. federal research tax credit, relative to a lower 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 nine months 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 nine months of fiscal year 2022 was lower than the U.S. federal statutory rate of 21% due to tax benefits from the foreign-derived intangible income deduction, income earned in jurisdictions that are subject to taxes lower than the U.S. federal statutory tax rate, the discrete benefit of the Domestication, and tax benefits related to stock-based compensation and the U.S. federal research tax credit.
For the first nine months 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.
While we believe that we have adequately provided for all uncertain tax positions, or tax positions where we believe it is not more-likely-than-not that the position will be sustained upon review, amounts asserted by tax authorities could be greater or less than our accrued position. Accordingly, our provisions on federal, state and foreign tax related matters to be recorded in the future may change as revised estimates are made or the underlying matters are settled or otherwise resolved with the respective tax authorities. As of October 30, 2022, we do not believe that our estimates, as otherwise provided for, on such tax positions will significantly increase or decrease within the next 12 months.
v3.22.2.2
Cash Equivalents and Marketable Securities
9 Months Ended
Oct. 30, 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 October 30, 2022 and January 30, 2022:
 October 30, 2022
Amortized
Cost
Unrealized
Gain
Unrealized
Loss
Estimated
Fair Value
Reported as
 Cash EquivalentsMarketable Securities
 (In millions)
Corporate debt securities$4,221 $— $(19)$4,202 $239 $3,963 
Debt securities issued by the U.S. Treasury4,176 (60)4,117 4,116 
Debt securities issued by U.S. government agencies2,259 — (4)2,255 344 1,911 
Certificates of deposit316 — — 316 58 258 
Money market funds1,843 — — 1,843 1,843 — 
Foreign government bonds99 — — 99 95 
Total$12,914 $$(83)$12,832 $2,489 $10,343 
 January 30, 2022
Amortized
Cost
Unrealized
Gain
Unrealized
Loss
Estimated
Fair Value
Reported as
 Cash EquivalentsMarketable Securities
 (In millions)
Corporate debt securities$9,977 $— $(3)$9,974 $1,102 $8,872 
Debt securities issued by the U.S. Treasury7,314 — (14)7,300 — 7,300 
Debt securities issued by U.S. government agencies1,612 — — 1,612 256 1,356 
Certificates of deposit1,561 — — 1,561 21 1,540 
Money market funds316 — — 316 316 — 
Foreign government bonds150 — — 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:
October 30, 2022
 Less than 12 Months12 Months or GreaterTotal
 Estimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized Loss
 (In millions)
Debt securities issued by the U.S. Treasury$1,928 $(35)$1,051 $(24)$2,979 $(59)
Debt securities issued by U.S. government agencies1,888 (4)— — 1,888 (4)
Corporate debt securities1,786 (18)208 (2)1,994 (20)
Total$5,602 $(57)$1,259 $(26)$6,861 $(83)
January 30, 2022
 Less than 12 Months12 Months or GreaterTotal
 Estimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized Loss
 (In millions)
Debt securities issued by the U.S. Treasury$5,292 $(14)$— $— $5,292 $(14)
Corporate debt securities2,445 (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 losses were not significant for all periods presented.
The amortized cost and estimated fair value of cash equivalents and marketable securities as of October 30, 2022 and January 30, 2022 are shown below by contractual maturity.
October 30, 2022January 30, 2022
Amortized CostEstimated Fair ValueAmortized CostEstimated Fair Value
(In millions)
Less than one year$8,985 $8,952 $16,346 $16,343 
Due in 1 - 5 years3,929 3,880 4,584 4,570 
Total$12,914 $12,832 $20,930 $20,913 
v3.22.2.2
Fair Value of Financial Assets and Liabilities
9 Months Ended
Oct. 30, 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 CategoryOctober 30, 2022January 30, 2022
(In millions)
Assets
Cash equivalents and marketable securities:
Money market fundsLevel 1$1,843 $316 
Corporate debt securitiesLevel 2$4,202 $9,974 
Debt securities issued by the U.S. TreasuryLevel 2$4,117 $7,300 
Debt securities issued by U.S. government agenciesLevel 2$2,255 $1,612 
Certificates of depositLevel 2$316 $1,561 
Foreign government bondsLevel 2$99 $150 
Other assets (Investment in non-affiliated entities):
Publicly-held equity securities (1)Level 1$27 $58 
Privately-held equity securitiesLevel 3$287 $208 
Liabilities (2)
0.309% Notes Due 2023
Level 2$1,217 $1,236 
0.584% Notes Due 2024
Level 2$1,168 $1,224 
3.20% Notes Due 2026
Level 2$945 $1,055 
1.55% Notes Due 2028
Level 2$1,036 $1,200 
2.85% Notes Due 2030
Level 2$1,281 $1,542 
2.00% Notes Due 2031
Level 2$979 $1,200 
3.50% Notes Due 2040
Level 2$764 $1,066 
3.50% Notes Due 2050
Level 2$1,427 $2,147 
3.70% Notes Due 2060
Level 2$344 $551 
(1)    Unrealized losses of $11 million and $35 million from investments in publicly-traded equity securities were recorded in other income (expense), net, in the third quarter and first nine months of fiscal year 2023, respectively. Unrealized gains of $8 million and $126 million from an investment in a publicly-traded equity security were recorded in other income (expense), net, in the third quarter and first nine months of fiscal year 2022, respectively.
(2)    These liabilities are carried on our Condensed Consolidated Balance Sheets at their original issuance value, net of unamortized debt discount and issuance costs.
v3.22.2.2
Amortizable Intangible Assets and Goodwill
9 Months Ended
Oct. 30, 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:
 October 30, 2022January 30, 2022
 Gross
Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
 (In millions)
Acquisition-related intangible assets (1)$3,093 $(1,441)$1,652 $3,061 $(947)$2,114 
Patents and licensed technology442 (244)198 446 (221)225 
Total intangible assets$3,535 $(1,685)$1,850 $3,507 $(1,168)$2,339 
(1)    During the first quarter of fiscal year 2023, we commenced amortization of a $630 million in-process research and development intangible asset related to our acquisition of Mellanox.
Amortization expense associated with intangible assets was $181 million and $518 million for the third quarter and first nine months of fiscal year 2023, respectively, and $143 million and $418 million for the third quarter and first nine months of fiscal year 2022, respectively. Future amortization expense related to the net carrying amount of intangible assets as of October 30, 2022 is estimated to be $181 million for the remainder of fiscal year 2023, $600 million in fiscal year 2024, $538 million in fiscal year 2025, $244 million in fiscal year 2026, $141 million in fiscal year 2027, and $146 million in fiscal year 2028 and thereafter.
In the first nine months of fiscal year 2023, goodwill increased by $23 million and intangible assets increased by $33 million from acquisitions. We assigned $14 million of the increase in goodwill to our Compute & Networking segment and $9 million of the increase to our Graphics segment.
v3.22.2.2
Balance Sheet Components
9 Months Ended
Oct. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Balance Sheet Components Balance Sheet Components 
Certain balance sheet components are as follows:
October 30,January 30,
 20222022
Inventories:(In millions)
Raw materials$1,936 $791 
Work in-process788 692 
Finished goods1,730 1,122 
Total inventories$4,454 $2,605 

October 30,January 30,
 20222022
Other assets:(In millions)
Prepaid supply agreements$2,771 $1,747 
Prepaid royalties393 409 
Investment in non-affiliated entities314 266 
Advanced consideration for acquisition (1)— 1,353 
Other102 66 
Total other assets$3,580 $3,841 
(1)    Refer to Note 2 - Business Combination for further details on the Arm acquisition.
October 30,January 30,
 20222022
Accrued and Other Current Liabilities:(In millions)
Customer program accruals$1,394 $1,000 
Excess inventory purchase obligations1,181 196 
Deferred revenue (1)338 300 
Accrued payroll and related expenses307 409 
Unsettled share repurchases162 — 
Product warranty104 46 
Taxes payable108 132 
Other521 469 
Total accrued and other current liabilities$4,115 $2,552 
(1)    Deferred revenue primarily includes customer advances and deferrals related to license and development arrangements, support for hardware and software, and cloud services.
October 30,January 30,
 20222022
Other Long-Term Liabilities:(In millions)
Income tax payable (1)$1,057 $980 
Deferred income tax246 245 
Deferred revenue (2)213 202 
Other269 126 
Total other long-term liabilities$1,785 $1,553 
(1)    As of October 30, 2022, income tax payable represents the long-term portion of the one-time transition tax payable of $188 million, unrecognized tax benefits of $789 million, and related interest and penalties of $80 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 nine months of fiscal years 2023 and 2022:
October 30,October 31,
 20222021
(In millions)
Balance at beginning of period$502 $451 
Deferred revenue additions during the period577 621 
Revenue recognized during the period(528)(583)
Balance at end of period$551 $489 
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 October 30, 2022, $681 million of revenue related to performance obligations had not been recognized, of which we expect to recognize approximately 47% 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.
v3.22.2.2
Derivative Financial Instruments
9 Months Ended
Oct. 30, 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 October 30, 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 October 30, 2022 and January 30, 2022:
 October 30,
2022
January 30,
2022
(In millions)
Designated as cash flow hedges$1,139 $1,023 
Not designated for hedge accounting$330 $408 
As of October 30, 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 nine months 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.
v3.22.2.2
Debt
9 Months Ended
Oct. 30, 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
Interest Rate
October 30, 2022January 30, 2022
(In millions)
0.309% Notes Due 2023
0.60.41%$1,250 $1,250 
0.584% Notes Due 2024
1.60.66%1,250 1,250 
3.20% Notes Due 2026
3.93.31%1,000 1,000 
1.55% Notes Due 2028
5.61.64%1,250 1,250 
2.85% Notes Due 2030
7.42.93%1,500 1,500 
2.00% Notes Due 2031
8.62.09%1,250 1,250 
3.50% Notes Due 2040
17.43.54%1,000 1,000 
3.50% Notes Due 2050
27.43.54%2,000 2,000 
3.70% Notes Due 2060
37.43.73%500 500 
Unamortized debt discount and issuance costs(50)(54)
Net carrying amount10,950 10,946 
Less short-term portion(1,249)— 
Total long-term portion$9,701 $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 October 30, 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 October 30, 2022, we had not issued any commercial paper.
v3.22.2.2
Commitments and Contingencies
9 Months Ended
Oct. 30, 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 $917 million remaining unpaid. As of October 30, 2022, we had outstanding inventory purchase and long-term supply obligations totaling $7.02 billion, inclusive of the $917 million. Other non-inventory purchase obligations of $2.75 billion include $1.59 billion of multi-year cloud service agreements.
Total gross future unconditional purchase commitments as of October 30, 2022 are as follows:
Commitments
 (In millions)
Fiscal Year: 
2023 (excluding first nine months of fiscal year 2023)
$4,234 
20243,362 
2025798 
2026504 
2027464 
2028 and thereafter
410 
Total$9,772 
Accrual for Product Warranty Liabilities
The estimated amount of product warranty liabilities was $104 million and $46 million as of October 30, 2022 and January 30, 2022, respectively. The estimated product returns and estimated product warranty activity consisted of the following:
Three Months Ended
Nine Months Ended
October 30,
October 31,
October 30,
October 31,
2022
2021
2022
2021
(In millions)
Balance at beginning of period
$168 $31 $46 $22 
Additions
3514120
Utilization
(67)(4)(83)(10)
Balance at end of period
$104 $32 $104 $32 
In the third quarter of fiscal year 2023, we recognized a warranty-related benefit of approximately $70 million in cost of revenue due to favorable product recovery.
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.
Accounting for Loss Contingencies
As of October 30, 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.
v3.22.2.2
Shareholders' Equity
9 Months Ended
Oct. 30, 2022
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity 
Capital Return Program 
During the third quarter and first nine months of fiscal year 2023, we repurchased 28 million shares for $3.65 billion and 56 million shares for $8.99 billion, respectively. Since the inception of our share repurchase program through October 30, 2022, we have repurchased an aggregate of 1.10 billion shares for $16.07 billion. As of October 30, 2022, we were authorized, subject to certain specifications, to repurchase an additional $8.28 billion of shares through December 2023. From October 31, 2022 through November 17, 2022, we repurchased 7 million shares for $1.05 billion pursuant to a Rule 10b5-1 trading plan.
During the third quarter and first nine months of fiscal year 2023, we paid $100 million and $300 million in cash dividends to our shareholders, respectively. During the third quarter and first nine months of fiscal year 2022, we paid $100 million and $298 million in cash dividends to our shareholders, respectively.
v3.22.2.2
Segment Information
9 Months Ended
Oct. 30, 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 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.
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.
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 Compute & Networking or Graphics for purposes of making operating decisions or assessing financial performance. The expenses include stock-based compensation expense, acquisition-related and other costs, corporate infrastructure and support costs, restructuring costs, acquisition termination cost, IP-related and legal settlement costs, contributions, 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.
 Compute & NetworkingGraphicsAll OtherConsolidated
 (In millions)
Three Months Ended October 30, 2022
    
Revenue$3,816 $2,115 $— $5,931 
Operating income (loss)$1,086 $606 $(1,091)$601 
Three Months Ended October 31, 2021
    
Revenue$3,011 $4,092 $— $7,103 
Operating income (loss)$1,332 $2,160 $(821)$2,671 
Nine Months Ended October 30, 2022
Revenue$11,395 $9,528 $— $20,923 
Operating income (loss)$3,509 $3,739 $(4,280)$2,968 
Nine Months Ended October 31, 2021
Revenue$7,821 $11,450 $— $19,271 
Operating income (loss)$3,227 $6,073 $(2,229)$7,071 
Three Months EndedNine Months Ended
October 30,
2022
October 31,
2021
October 30,
2022
October 31,
2021
(In millions)
Reconciling items included in "All Other" category:
Stock-based compensation expense$(745)$(559)$(1,971)$(1,453)
Acquisition-related and other costs(174)(156)(499)(482)
Unallocated cost of revenue and operating expenses (156)(106)(432)(286)
Restructuring costs(16)— (16)— 
Acquisition termination cost— — (1,353)— 
IP-related and legal settlement costs— — (7)(8)
Contributions— — (2)— 
Total$(1,091)$(821)$(4,280)$(2,229)
Revenue by geographic region is allocated to individual countries based on the billing location of the customer. End customer location may be different than our customer’s billing location. The following table summarizes information pertaining to our revenue from customers based on the invoicing address by geographic regions:
 Three Months EndedNine Months Ended
October 30,October 31,October 30,October 31,
 2022202120222021
 (In millions)
Revenue:  
United States$2,148 $1,126 $6,069 $2,890 
Taiwan1,153 2,187 5,134 5,932 
China (including Hong Kong)1,148 2,017 4,831 5,128 
Other countries1,482 1,773 4,889 5,321 
Total revenue$5,931 $7,103 $20,923 $19,271 
The following table summarizes information pertaining to our revenue by each of the specialized markets we serve:
 Three Months EndedNine Months Ended
October 30,October 31,October 30,October 31,
 2022202120222021
 (In millions)
Revenue:  
Data Center$3,833 $2,936 $11,389 $7,350 
Gaming1,574 3,221 7,236 9,042 
Professional Visualization200 577 1,318 1,468 
Automotive251 135 609 441 
OEM and Other73 234 371 970 
Total revenue$5,931 $7,103 $20,923 $19,271 
One customer represented 10% of our total revenue for the third quarter of fiscal year 2023 and was attributable primarily to the Compute & Networking segment. No customer represented 10% or more of total revenue for the first nine months of fiscal year 2023 and for the third quarter and first nine months of fiscal year 2022.
One customer represented 10% or more of accounts receivable for a total of 12% of our accounts receivable balance as of October 30, 2022. Two customers each represented 10% or more of accounts receivable for a total of 22% as of January 30, 2022.
v3.22.2.2
Summary of Significant Accounting Policies (Policies)
9 Months Ended
Oct. 30, 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 third 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.
Prior period intangible asset gross carrying amount and accumulated amortization in Note 9 have been adjusted to write off immaterial fully amortized intangible assets as of January 30, 2022.
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.
v3.22.2.2
Leases (Tables)
9 Months Ended
Oct. 30, 2022
Leases [Abstract]  
Schedule of future minimum lease payments
Future minimum lease payments under our non-cancelable operating leases as of October 30, 2022 are as follows:
Operating Lease Obligations
 (In millions)
Fiscal Year: 
2023 (excluding first nine months of fiscal year 2023)
$50 
2024188 
2025167 
2026149 
2027137 
2028 and thereafter
393 
Total1,084 
Less imputed interest130 
Present value of net future minimum lease payments954 
Less short-term operating lease liabilities156 
Long-term operating lease liabilities$798 
Schedule of other information related to leases
Other information related to leases was as follows:
Nine Months Ended
October 30, 2022October 31, 2021
 (In millions)
Supplemental cash flows information 
Operating cash flows used for operating leases$134 $114 
Operating lease assets obtained in exchange for lease obligations$213 $230 
v3.22.2.2
Stock-Based Compensation (Tables)
9 Months Ended
Oct. 30, 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 EndedNine Months Ended
 October 30,
2022
October 31,
2021
October 30,
2022
October 31,
2021
(In millions)
Cost of revenue$32 $44 $108 $102 
Research and development530 363 1,365 935 
Sales, general and administrative183 152 498 416 
Total$745 $559 $1,971 $1,453 
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 SharesWeighted Average Grant-Date Fair Value Per Share
(In millions, except per share data)
Balances, January 30, 202246 $114.19 
Granted23 $185.07 
Vested restricted stock(18)$94.82 
Canceled and forfeited(1)$137.27 
Balances, October 30, 202250 $153.73 
v3.22.2.2
Net Income Per Share (Tables)
9 Months Ended
Oct. 30, 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 EndedNine Months Ended
October 30,October 31,October 30,October 31,
2022202120222021
 (In millions, except per share data)
Numerator:  
Net income
$680 $2,464 $2,954 $6,749 
Denominator:
Basic weighted average shares
2,483 2,499 2,495 2,493 
Dilutive impact of outstanding
equity awards
16 39 22 39 
Diluted weighted average shares
2,499 2,538 2,517 2,532 
Net income per share:
Basic (1)
$0.27 $0.99 $1.18 $2.71 
Diluted (2)
$0.27 $0.97 $1.17 $2.67 
Equity awards excluded from diluted net income per share because their effect would have been anti-dilutive36 29 21 
(1)    Calculated as net income divided by basic weighted average shares.
(2)    Calculated as net income divided by diluted weighted average shares.
v3.22.2.2
Cash Equivalents and Marketable Securities (Tables)
9 Months Ended
Oct. 30, 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 October 30, 2022 and January 30, 2022:
 October 30, 2022
Amortized
Cost
Unrealized
Gain
Unrealized
Loss
Estimated
Fair Value
Reported as
 Cash EquivalentsMarketable Securities
 (In millions)
Corporate debt securities$4,221 $— $(19)$4,202 $239 $3,963 
Debt securities issued by the U.S. Treasury4,176 (60)4,117 4,116 
Debt securities issued by U.S. government agencies2,259 — (4)2,255 344 1,911 
Certificates of deposit316 — — 316 58 258 
Money market funds1,843 — — 1,843 1,843 — 
Foreign government bonds99 — — 99 95 
Total$12,914 $$(83)$12,832 $2,489 $10,343 
 January 30, 2022
Amortized
Cost
Unrealized
Gain
Unrealized
Loss
Estimated
Fair Value
Reported as
 Cash EquivalentsMarketable Securities
 (In millions)
Corporate debt securities$9,977 $— $(3)$9,974 $1,102 $8,872 
Debt securities issued by the U.S. Treasury7,314 — (14)7,300 — 7,300 
Debt securities issued by U.S. government agencies1,612 — — 1,612 256 1,356 
Certificates of deposit1,561 — — 1,561 21 1,540 
Money market funds316 — — 316 316 — 
Foreign government bonds150 — — 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 October 30, 2022 and January 30, 2022 are shown below by contractual maturity.
October 30, 2022January 30, 2022
Amortized CostEstimated Fair ValueAmortized CostEstimated Fair Value
(In millions)
Less than one year$8,985 $8,952 $16,346 $16,343 
Due in 1 - 5 years3,929 3,880 4,584 4,570 
Total$12,914 $12,832 $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:
October 30, 2022
 Less than 12 Months12 Months or GreaterTotal
 Estimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized Loss
 (In millions)
Debt securities issued by the U.S. Treasury$1,928 $(35)$1,051 $(24)$2,979 $(59)
Debt securities issued by U.S. government agencies1,888 (4)— — 1,888 (4)
Corporate debt securities1,786 (18)208 (2)1,994 (20)
Total$5,602 $(57)$1,259 $(26)$6,861 $(83)
January 30, 2022
 Less than 12 Months12 Months or GreaterTotal
 Estimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized LossEstimated Fair ValueGross Unrealized Loss
 (In millions)
Debt securities issued by the U.S. Treasury$5,292 $(14)$— $— $5,292 $(14)
Corporate debt securities2,445 (3)19 — 2,464 (3)
Total$7,737 $(17)$19 $— $7,756 $(17)
v3.22.2.2
Fair Value of Financial Assets and Liabilities (Tables)
9 Months Ended
Oct. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of fair value measurements, recurring and nonrecurring
Fair Value at
Pricing CategoryOctober 30, 2022January 30, 2022
(In millions)
Assets
Cash equivalents and marketable securities:
Money market fundsLevel 1$1,843 $316 
Corporate debt securitiesLevel 2$4,202 $9,974 
Debt securities issued by the U.S. TreasuryLevel 2$4,117 $7,300 
Debt securities issued by U.S. government agenciesLevel 2$2,255 $1,612 
Certificates of depositLevel 2$316 $1,561 
Foreign government bondsLevel 2$99 $150 
Other assets (Investment in non-affiliated entities):
Publicly-held equity securities (1)Level 1$27 $58 
Privately-held equity securitiesLevel 3$287 $208 
Liabilities (2)
0.309% Notes Due 2023
Level 2$1,217 $1,236 
0.584% Notes Due 2024
Level 2$1,168 $1,224 
3.20% Notes Due 2026
Level 2$945 $1,055 
1.55% Notes Due 2028
Level 2$1,036 $1,200 
2.85% Notes Due 2030
Level 2$1,281 $1,542 
2.00% Notes Due 2031
Level 2$979 $1,200 
3.50% Notes Due 2040
Level 2$764 $1,066 
3.50% Notes Due 2050
Level 2$1,427 $2,147 
3.70% Notes Due 2060
Level 2$344 $551 
(1)    Unrealized losses of $11 million and $35 million from investments in publicly-traded equity securities were recorded in other income (expense), net, in the third quarter and first nine months of fiscal year 2023, respectively. Unrealized gains of $8 million and $126 million from an investment in a publicly-traded equity security were recorded in other income (expense), net, in the third quarter and first nine months of fiscal year 2022, respectively.
(2)    These liabilities are carried on our Condensed Consolidated Balance Sheets at their original issuance value, net of unamortized debt discount and issuance costs.
v3.22.2.2
Amortizable Intangible Assets and Goodwill (Tables)
9 Months Ended
Oct. 30, 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:
 October 30, 2022January 30, 2022
 Gross
Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
Gross
Carrying
Amount
Accumulated
Amortization
Net Carrying
Amount
 (In millions)
Acquisition-related intangible assets (1)$3,093 $(1,441)$1,652 $3,061 $(947)$2,114 
Patents and licensed technology442 (244)198 446 (221)225 
Total intangible assets$3,535 $(1,685)$1,850 $3,507 $(1,168)$2,339 
(1)    During the first quarter of fiscal year 2023, we commenced amortization of a $630 million in-process research and development intangible asset related to our acquisition of Mellanox.
v3.22.2.2
Balance Sheet Components (Tables)
9 Months Ended
Oct. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of inventory
Certain balance sheet components are as follows:
October 30,January 30,
 20222022
Inventories:(In millions)
Raw materials$1,936 $791 
Work in-process788 692 
Finished goods1,730 1,122 
Total inventories$4,454 $2,605 
Schedule of other assets
October 30,January 30,
 20222022
Other assets:(In millions)
Prepaid supply agreements$2,771 $1,747 
Prepaid royalties393 409 
Investment in non-affiliated entities314 266 
Advanced consideration for acquisition (1)— 1,353 
Other102 66 
Total other assets$3,580 $3,841 
(1)    Refer to Note 2 - Business Combination for further details on the Arm acquisition.
Schedule of accrued and other current liabilities
October 30,January 30,
 20222022
Accrued and Other Current Liabilities:(In millions)
Customer program accruals$1,394 $1,000 
Excess inventory purchase obligations1,181 196 
Deferred revenue (1)338 300 
Accrued payroll and related expenses307 409 
Unsettled share repurchases162 — 
Product warranty104 46 
Taxes payable108 132 
Other521 469 
Total accrued and other current liabilities$4,115 $2,552 
(1)    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
October 30,January 30,
 20222022
Other Long-Term Liabilities:(In millions)
Income tax payable (1)$1,057 $980 
Deferred income tax246 245 
Deferred revenue (2)213 202 
Other269 126 
Total other long-term liabilities$1,785 $1,553 
(1)    As of October 30, 2022, income tax payable represents the long-term portion of the one-time transition tax payable of $188 million, unrecognized tax benefits of $789 million, and related interest and penalties of $80 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 nine months of fiscal years 2023 and 2022:
October 30,October 31,
 20222021
(In millions)
Balance at beginning of period$502 $451 
Deferred revenue additions during the period577 621 
Revenue recognized during the period(528)(583)
Balance at end of period$551 $489 
v3.22.2.2
Derivative Financial Instruments (Tables)
9 Months Ended
Oct. 30, 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 October 30, 2022 and January 30, 2022:
 October 30,
2022
January 30,
2022
(In millions)
Designated as cash flow hedges$1,139 $1,023 
Not designated for hedge accounting$330 $408 
v3.22.2.2
Debt (Tables)
9 Months Ended
Oct. 30, 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
Interest Rate
October 30, 2022January 30, 2022
(In millions)
0.309% Notes Due 2023
0.60.41%$1,250 $1,250 
0.584% Notes Due 2024
1.60.66%1,250 1,250 
3.20% Notes Due 2026
3.93.31%1,000 1,000 
1.55% Notes Due 2028
5.61.64%1,250 1,250 
2.85% Notes Due 2030
7.42.93%1,500 1,500 
2.00% Notes Due 2031
8.62.09%1,250 1,250 
3.50% Notes Due 2040
17.43.54%1,000 1,000 
3.50% Notes Due 2050
27.43.54%2,000 2,000 
3.70% Notes Due 2060
37.43.73%500 500 
Unamortized debt discount and issuance costs(50)(54)
Net carrying amount10,950 10,946 
Less short-term portion(1,249)— 
Total long-term portion$9,701 $10,946 
v3.22.2.2
Commitments and Contingencies (Tables)
9 Months Ended
Oct. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Future Unconditional Purchase Commitments
Total gross future unconditional purchase commitments as of October 30, 2022 are as follows:
Commitments
 (In millions)
Fiscal Year: 
2023 (excluding first nine months of fiscal year 2023)
$4,234 
20243,362 
2025798 
2026504 
2027464 
2028 and thereafter
410 
Total$9,772 
Schedule of Product Warranty Activity The estimated product returns and estimated product warranty activity consisted of the following:
Three Months Ended
Nine Months Ended
October 30,
October 31,
October 30,
October 31,
2022
2021
2022
2021
(In millions)
Balance at beginning of period
$168 $31 $46 $22 
Additions
3514120
Utilization
(67)(4)(83)(10)
Balance at end of period
$104 $32 $104 $32 
v3.22.2.2
Segment Information (Tables)
9 Months Ended
Oct. 30, 2022
Segment Reporting [Abstract]  
Schedule of reportable segments The table below presents details of our reportable segments and the “All Other” category.
 Compute & NetworkingGraphicsAll OtherConsolidated
 (In millions)
Three Months Ended October 30, 2022
    
Revenue$3,816 $2,115 $— $5,931 
Operating income (loss)$1,086 $606 $(1,091)$601 
Three Months Ended October 31, 2021
    
Revenue$3,011 $4,092 $— $7,103 
Operating income (loss)$1,332 $2,160 $(821)$2,671 
Nine Months Ended October 30, 2022
Revenue$11,395 $9,528 $— $20,923 
Operating income (loss)$3,509 $3,739 $(4,280)$2,968 
Nine Months Ended October 31, 2021
Revenue$7,821 $11,450 $— $19,271 
Operating income (loss)$3,227 $6,073 $(2,229)$7,071 
Three Months EndedNine Months Ended
October 30,
2022
October 31,
2021
October 30,
2022
October 31,
2021
(In millions)
Reconciling items included in "All Other" category:
Stock-based compensation expense$(745)$(559)$(1,971)$(1,453)
Acquisition-related and other costs(174)(156)(499)(482)
Unallocated cost of revenue and operating expenses (156)(106)(432)(286)
Restructuring costs(16)— (16)— 
Acquisition termination cost— — (1,353)— 
IP-related and legal settlement costs— — (7)(8)
Contributions— — (2)— 
Total$(1,091)$(821)$(4,280)$(2,229)
Schedule of revenue by geographic regions
 Three Months EndedNine Months Ended
October 30,October 31,October 30,October 31,
 2022202120222021
 (In millions)
Revenue:  
United States$2,148 $1,126 $6,069 $2,890 
Taiwan1,153 2,187 5,134 5,932 
China (including Hong Kong)1,148 2,017 4,831 5,128 
Other countries1,482 1,773 4,889 5,321 
Total revenue$5,931 $7,103 $20,923 $19,271 
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 EndedNine Months Ended
October 30,October 31,October 30,October 31,
 2022202120222021
 (In millions)
Revenue:  
Data Center$3,833 $2,936 $11,389 $7,350 
Gaming1,574 3,221 7,236 9,042 
Professional Visualization200 577 1,318 1,468 
Automotive251 135 609 441 
OEM and Other73 234 371 970 
Total revenue$5,931 $7,103 $20,923 $19,271 
v3.22.2.2
Business Combination (Details)
$ in Millions
3 Months Ended
May 01, 2022
USD ($)
Arm Limited  
Business Acquisition [Line Items]  
Acquisition termination cost $ 1,350
v3.22.2.2
Leases - Schedule of Future Minimum Payments (Details) - USD ($)
$ in Millions
Oct. 30, 2022
Jan. 30, 2022
Leases [Abstract]    
2023 (excluding first nine months of fiscal year 2023) $ 50  
2024 188  
2025 167  
2026 149  
2027 137  
2028 and thereafter 393  
Total 1,084  
Less imputed interest 130  
Present value of net future minimum lease payments 954  
Less short-term operating lease liabilities 156  
Long-term operating lease liabilities $ 798 $ 741
v3.22.2.2
Leases - Narrative (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 30, 2022
Oct. 31, 2021
Oct. 30, 2022
Oct. 31, 2021
Jan. 30, 2022
Lessee, Lease, Description [Line Items]          
Operating lease, not yet commenced, amount $ 647   $ 647    
Operating lease expense $ 49 $ 44 $ 139 $ 125  
Weighted average remaining lease term - operating leases 6 years 10 months 24 days   6 years 10 months 24 days   7 years 1 month 6 days
Weighted average discount rate - operating leases 2.82%   2.82%   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    
v3.22.2.2
Leases - Schedule of Other Lease Information (Details) - USD ($)
$ in Millions
9 Months Ended
Oct. 30, 2022
Oct. 31, 2021
Supplemental disclosures of cash flow information:    
Operating cash flows used for operating leases $ 134 $ 114
Operating lease assets obtained in exchange for lease obligations $ 213 $ 230
v3.22.2.2
Stock-Based Compensation - Allocation of Expense (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 30, 2022
Oct. 31, 2021
Oct. 30, 2022
Oct. 31, 2021
Share-based Compensation        
Stock-based compensation expense $ 745 $ 559 $ 1,971 $ 1,453
Cost of revenue        
Share-based Compensation        
Stock-based compensation expense 32 44 108 102
Research and development        
Share-based Compensation        
Stock-based compensation expense 530 363 1,365 935
Sales, general and administrative        
Share-based Compensation        
Stock-based compensation expense $ 183 $ 152 $ 498 $ 416
v3.22.2.2
Stock-Based Compensation - Summary of Equity Award Transactions (Details)
shares in Millions
9 Months Ended
Oct. 30, 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 23
RSUs, PSUs and Market-based PSUs, Vested restricted stock (in shares) | shares (18)
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 50
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 185.07
RSUs, PSUs and Market-based PSUs, weighted average grant date fair value, Vested restricted stock (in dollars per share) | $ / shares 94.82
RSUs, PSUs and Market-based PSUs, weighted average grant date fair value, canceled and forfeited (in dollars per share) | $ / shares 137.27
RSUs, PSUs and Market-based PSUs, weighted average grant date fair value, ending balance (in dollars per share) | $ / shares $ 153.73
v3.22.2.2
Stock-Based Compensation - Narrative (Details)
$ in Millions
9 Months Ended
Oct. 30, 2022
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Unearned stock-based compensation expense $ 7,190
RSUs, PSUs, and Market-based PSUs  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Estimated weighted average amortization period 2 years 8 months 12 days
Employee Stock Purchase Plan  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Estimated weighted average amortization period 1 year 1 month 6 days
v3.22.2.2
Net Income Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Oct. 30, 2022
Oct. 31, 2021
Oct. 30, 2022
Oct. 31, 2021
Numerator:        
Net income $ 680 $ 2,464 $ 2,954 $ 6,749
Denominator:        
Basic weighted average shares (in shares) 2,483 2,499 2,495 2,493
Dilutive impact of outstanding equity awards (in shares) 16 39 22 39
Diluted weighted average shares (in shares) 2,499 2,538 2,517 2,532
Net income per share:        
Basic (in dollars per share) $ 0.27 $ 0.99 $ 1.18 $ 2.71
Diluted (in dollars per share) $ 0.27 $ 0.97 $ 1.17 $ 2.67
Equity awards excluded from diluted net income per share because their effect would have been anti-dilutive (in shares) 36 2 29 21
v3.22.2.2
Income Taxes (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 30, 2022
Oct. 31, 2021
Oct. 30, 2022
Oct. 31, 2021
Income Tax Disclosure [Abstract]        
Income tax (benefit) expense $ (67) $ 174 $ (61) $ 327
Tax (benefit) expense as a percentage of income before income tax (10.90%) 6.60% (2.10%) 4.60%
v3.22.2.2
Cash Equivalents and Marketable Securities - Summary of Securities (Details) - USD ($)
$ in Millions
Oct. 30, 2022
Jan. 30, 2022
Summary of cash equivalents and marketable securities:    
Amortized Cost $ 12,914 $ 20,930
Unrealized Gain 1 0
Unrealized Loss (83) (17)
Estimated Fair Value 12,832 20,913
Cash Equivalents 2,489 1,695
Marketable Securities 10,343 19,218
Corporate debt securities    
Summary of cash equivalents and marketable securities:    
Amortized Cost 4,221 9,977
Unrealized Gain 0 0
Unrealized Loss (19) (3)
Estimated Fair Value 4,202 9,974
Cash Equivalents 239 1,102
Marketable Securities 3,963 8,872
Debt securities issued by the U.S. Treasury    
Summary of cash equivalents and marketable securities:    
Amortized Cost 4,176 7,314
Unrealized Gain 1 0
Unrealized Loss (60) (14)
Estimated Fair Value 4,117 7,300
Cash Equivalents 1 0
Marketable Securities 4,116 7,300
Debt securities issued by U.S. government agencies    
Summary of cash equivalents and marketable securities:    
Amortized Cost 2,259 1,612
Unrealized Gain 0 0
Unrealized Loss (4) 0
Estimated Fair Value 2,255 1,612
Cash Equivalents 344 256
Marketable Securities 1,911 1,356
Certificates of deposit    
Summary of cash equivalents and marketable securities:    
Amortized Cost 316 1,561
Unrealized Gain 0 0
Unrealized Loss 0 0
Estimated Fair Value 316 1,561
Cash Equivalents 58 21
Marketable Securities 258 1,540
Money market funds    
Summary of cash equivalents and marketable securities:    
Amortized Cost 1,843 316
Unrealized Gain 0 0
Unrealized Loss 0 0
Estimated Fair Value 1,843 316
Cash Equivalents 1,843 316
Marketable Securities 0 0
Foreign government bonds    
Summary of cash equivalents and marketable securities:    
Amortized Cost 99 150
Unrealized Gain 0 0
Unrealized Loss 0 0
Estimated Fair Value 99 150
Cash Equivalents 4 0
Marketable Securities $ 95 $ 150
v3.22.2.2
Cash Equivalents and Marketable Securities - Unrealized Losses Aggregated by Investment Category (Details) - USD ($)
$ in Millions
Oct. 30, 2022
Jan. 30, 2022
Estimated Fair Value    
Less than 12 Months $ 5,602 $ 7,737
12 Months or Greater 1,259 19
Total 6,861 7,756
Gross Unrealized Loss    
Less than 12 Months (57) (17)
12 Months or Greater (26) 0
Total (83) (17)
Debt securities issued by the U.S. Treasury    
Estimated Fair Value    
Less than 12 Months 1,928 5,292
12 Months or Greater 1,051 0
Total 2,979 5,292
Gross Unrealized Loss    
Less than 12 Months (35) (14)
12 Months or Greater (24) 0
Total (59) (14)
Debt securities issued by U.S. government agencies    
Estimated Fair Value    
Less than 12 Months 1,888  
12 Months or Greater 0  
Total 1,888  
Gross Unrealized Loss    
Less than 12 Months (4)  
12 Months or Greater 0  
Total (4)  
Corporate debt securities    
Estimated Fair Value    
Less than 12 Months 1,786 2,445
12 Months or Greater 208 19
Total 1,994 2,464
Gross Unrealized Loss    
Less than 12 Months (18) (3)
12 Months or Greater (2) 0
Total $ (20) $ (3)
v3.22.2.2
Cash Equivalents and Marketable Securities - Amortized Cost and Estimated Fair Value of Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Millions
Oct. 30, 2022
Jan. 30, 2022
Amortized Cost    
Less than one year $ 8,985 $ 16,346
Due in 1 - 5 years 3,929 4,584
Amortized Cost 12,914 20,930
Estimated Fair Value    
Less than one year 8,952 16,343
Due in 1 - 5 years 3,880 4,570
Estimated Fair Value $ 12,832 $ 20,913
v3.22.2.2
Fair Value of Financial Assets and Liabilities (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 30, 2022
Oct. 31, 2021
Oct. 30, 2022
Oct. 31, 2021
Jan. 30, 2022
Cash equivalents and marketable securities:          
Cash equivalents and marketable securities $ 12,832   $ 12,832   $ 20,913
Other assets (Investment in non-affiliated entities):          
Investment in non-affiliated entities 314   314   266
Liabilities          
Unrealized loss recognized during the period $ 11   $ 35    
Unrealized gain recognized during the period   $ 8   $ 126  
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 2.00%   2.00%    
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 $ 1,843   $ 1,843   316
Corporate debt securities          
Cash equivalents and marketable securities:          
Cash equivalents and marketable securities 4,202   4,202   9,974
Debt securities issued by the U.S. Treasury          
Cash equivalents and marketable securities:          
Cash equivalents and marketable securities 4,117   4,117   7,300
Debt securities issued by U.S. government agencies          
Cash equivalents and marketable securities:          
Cash equivalents and marketable securities 2,255   2,255   1,612
Certificates of deposit          
Cash equivalents and marketable securities:          
Cash equivalents and marketable securities 316   316   1,561
Foreign government bonds          
Cash equivalents and marketable securities:          
Cash equivalents and marketable securities 99   99   150
Level 1 | Money market funds          
Cash equivalents and marketable securities:          
Cash equivalents and marketable securities 1,843   1,843   316
Level 1 | Publicly-held equity securities          
Other assets (Investment in non-affiliated entities):          
Investment in non-affiliated entities 27   27   58
Level 2 | 0.309% Notes Due 2023          
Liabilities          
Notes 1,217   1,217   1,236
Level 2 | 0.584% Notes Due 2024          
Liabilities          
Notes 1,168   1,168   1,224
Level 2 | 3.20% Notes Due 2026          
Liabilities          
Notes 945   945   1,055
Level 2 | 1.55% Notes Due 2028          
Liabilities          
Notes 1,036   1,036   1,200
Level 2 | 2.85% Notes Due 2030          
Liabilities          
Notes 1,281   1,281   1,542
Level 2 | 2.00% Notes Due 2031          
Liabilities          
Notes 979   979   1,200
Level 2 | 3.50% Notes Due 2040          
Liabilities          
Notes 764   764   1,066
Level 2 | 3.50% Notes Due 2050          
Liabilities          
Notes 1,427   1,427   2,147
Level 2 | 3.70% Notes Due 2060          
Liabilities          
Notes 344   344   551
Level 2 | Corporate debt securities          
Cash equivalents and marketable securities:          
Cash equivalents and marketable securities 4,202   4,202   9,974
Level 2 | Debt securities issued by the U.S. Treasury          
Cash equivalents and marketable securities:          
Cash equivalents and marketable securities 4,117   4,117   7,300
Level 2 | Debt securities issued by U.S. government agencies          
Cash equivalents and marketable securities:          
Cash equivalents and marketable securities 2,255   2,255   1,612
Level 2 | Certificates of deposit          
Cash equivalents and marketable securities:          
Cash equivalents and marketable securities 316   316   1,561
Level 2 | Foreign government bonds          
Cash equivalents and marketable securities:          
Cash equivalents and marketable securities 99   99   150
Level 3 | Privately-held equity securities          
Other assets (Investment in non-affiliated entities):          
Investment in non-affiliated entities $ 287   $ 287   $ 208
v3.22.2.2
Amortizable Intangible Assets and Goodwill (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 30, 2022
Oct. 31, 2021
Oct. 30, 2022
Oct. 31, 2021
Jan. 30, 2022
Amortizable intangible assets components          
Gross Carrying Amount $ 3,535   $ 3,535   $ 3,507
Accumulated Amortization (1,685)   (1,685)   (1,168)
Net Carrying Amount 1,850   1,850   2,339
Amortization expense 181 $ 518 143 $ 418  
Increase in carrying amount of goodwill     23    
Increase in carrying amount of intangible assets     33    
Future amortization expense associated with intangible assets          
Remainder of fiscal year 2023 181   181    
Fiscal 2024 600   600    
Fiscal 2025 538   538    
Fiscal 2026 244   244    
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 3,093   3,093   3,061
Accumulated Amortization (1,441)   (1,441)   (947)
Net Carrying Amount 1,652   1,652   2,114
Patents and licensed technology          
Amortizable intangible assets components          
Gross Carrying Amount 442   442   446
Accumulated Amortization (244)   (244)   (221)
Net Carrying Amount $ 198   $ 198   225
In-process Research and Development | Mellanox Technologies, Ltd          
Amortizable intangible assets components          
IPR&D         $ 630
v3.22.2.2
Balance Sheet Components - Inventory (Details) - USD ($)
$ in Millions
Oct. 30, 2022
Jan. 30, 2022
Inventories:    
Raw materials $ 1,936 $ 791
Work in-process 788 692
Finished goods 1,730 1,122
Total inventories $ 4,454 $ 2,605
v3.22.2.2
Balance Sheet Components - Other Assets (Details) - USD ($)
$ in Millions
Oct. 30, 2022
Jan. 30, 2022
Other assets:    
Prepaid supply agreements $ 2,771 $ 1,747
Prepaid royalties 393 409
Investment in non-affiliated entities 314 266
Advanced consideration for acquisition 0 1,353
Other 102 66
Total other assets $ 3,580 $ 3,841
v3.22.2.2
Balance Sheet Components - Accrued and Other Current Liabilities (Details) - USD ($)
$ in Millions
Oct. 30, 2022
Jan. 30, 2022
Accrued and Other Current Liabilities:    
Customer program accruals $ 1,394 $ 1,000
Excess inventory purchase obligations 1,181 196
Deferred revenue 338 300
Accrued payroll and related expenses 307 409
Unsettled share repurchases 162 0
Product warranty 104 46
Taxes payable 108 132
Other 521 469
Total accrued and other current liabilities $ 4,115 $ 2,552
v3.22.2.2
Balance Sheet Components - Other Long-Term Liabilities (Details) - USD ($)
$ in Millions
Oct. 30, 2022
Jan. 30, 2022
Other Long-Term Liabilities:    
Income taxes payable $ 1,057 $ 980
Deferred income tax 246 245
Deferred revenue 213 202
Other 269 126
Total other long-term liabilities 1,785 1,553
One time transition tax payable, noncurrent 188 251
Unrecognized tax benefits 789 670
Interest and penalties related to unrecognized tax benefits $ 80 $ 59
v3.22.2.2
Balance Sheet Components - Change in Deferred Revenue (Details) - USD ($)
$ in Millions
9 Months Ended
Oct. 30, 2022
Oct. 31, 2021
Change in Deferred Revenue    
Balance at beginning of period $ 502 $ 451
Deferred revenue additions during the period 577 621
Revenue recognized during the period (528) (583)
Balance at end of period $ 551 $ 489
v3.22.2.2
Balance Sheet Components - Revenue Remaining Performance Obligation (Details)
$ in Millions
Oct. 30, 2022
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation $ 681
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-10-31  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation (as a percent) 47.00%
Expected performance period 12 months
v3.22.2.2
Derivative Financial Instruments - Notional Values (Details) - USD ($)
$ in Millions
Oct. 30, 2022
Jan. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Designated as cash flow hedges $ 1,139 $ 1,023
Not designated for hedge accounting $ 330 $ 408
v3.22.2.2
Derivative Financial Instruments - Narrative (Details)
9 Months Ended
Oct. 30, 2022
Foreign currency forward contracts  
Derivative [Line Items]  
Maximum maturity period 18 months
v3.22.2.2
Debt - Schedule of Instruments (Details) - USD ($)
$ in Millions
9 Months Ended
Oct. 30, 2022
Jan. 30, 2022
Debt Instrument [Line Items]    
Unamortized debt discount and issuance costs $ (50) $ (54)
Net carrying amount 10,950 10,946
Less short-term portion (1,249) 0
Total long-term portion $ 9,701 10,946
0.309% Notes Due 2023    
Debt Instrument [Line Items]    
Interest rate (as percent) 0.309%  
Expected Remaining Term (years) 7 months 6 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 7 months 6 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) 3 years 10 months 24 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 7 months 6 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 4 months 24 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) 2.00%  
Expected Remaining Term (years) 8 years 7 months 6 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 4 months 24 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 4 months 24 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 4 months 24 days  
Effective Interest Rate (as percent) 3.73%  
Gross carrying amount $ 500 $ 500
v3.22.2.2
Debt - Narrative (Details)
Oct. 30, 2022
USD ($)
Debt Instrument [Line Items]  
Outstanding commercial paper $ 0
Commercial Paper  
Debt Instrument [Line Items]  
Current borrowing capacity $ 575,000,000
v3.22.2.2
Commitments and Contingencies - Narrative (Details) - USD ($)
3 Months Ended
Oct. 30, 2022
Jul. 31, 2022
Jan. 30, 2022
Oct. 31, 2021
Aug. 01, 2021
Jan. 31, 2021
Loss Contingencies [Line Items]            
Supply agreements $ 917,000,000          
Inventory purchase and long-term supply agreements 7,020,000,000.00          
Other purchase obligations 2,750,000,000          
Warranty accrual 104,000,000 $ 168,000,000 $ 46,000,000 $ 32,000,000 $ 31,000,000 $ 22,000,000
Warranty benefit recognized during the period 70,000,000          
Cloud service agreement            
Loss Contingencies [Line Items]            
Other purchase obligations $ 1,590,000,000          
v3.22.2.2
Commitments and Contingencies - Summary of Future Commitments Due by Year (Details)
$ in Millions
Oct. 30, 2022
USD ($)
Fiscal Year:  
2023 (excluding first nine months of fiscal year 2023) $ 4,234
2024 3,362
2025 798
2026 504
2027 464
2028 and thereafter 410
Total $ 9,772
v3.22.2.2
Commitments and Contingencies - Schedule of Product Warranty Liabilities (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 30, 2022
Oct. 31, 2021
Oct. 30, 2022
Oct. 31, 2021
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]        
Beginning Balance $ 168 $ 31 $ 46 $ 22
Additions 3 5 141 20
Utilization (67) (4) (83) (10)
Ending Balance $ 104 $ 32 $ 104 $ 32
v3.22.2.2
Shareholders' Equity (Details) - USD ($)
shares in Millions, $ in Millions
1 Months Ended 3 Months Ended 9 Months Ended
Nov. 17, 2022
Oct. 30, 2022
Oct. 31, 2021
Oct. 30, 2022
Oct. 31, 2021
Schedule of Capitalization, Equity [Line Items]          
Number of share repurchased (in shares)   28.0   56.0  
Shares repurchased   $ 3,647   $ 8,988  
Aggregated number of shares repurchased under stock repurchase program (in shares)   1,100.0   1,100.0  
Aggregated cost of shares repurchased   $ 16,070   $ 16,070  
Remaining authorized repurchase amount   8,280   8,280  
Dividends paid   $ 100 $ 100 $ 300 $ 298
Subsequent Event          
Schedule of Capitalization, Equity [Line Items]          
Repurchase of shares 7.0        
Value of shares repurchased $ 1,050        
v3.22.2.2
Segment Information - Summary of Segments (Details)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 30, 2022
USD ($)
Oct. 31, 2021
USD ($)
Oct. 30, 2022
USD ($)
segment
Oct. 31, 2021
USD ($)
Segment Reporting [Abstract]        
Number of reportable segments | segment     2  
Segment Reporting Information [Line Items]        
Revenue $ 5,931 $ 7,103 $ 20,923 $ 19,271
Operating income (loss) 601 2,671 2,968 7,071
Operating Segments | Compute & Networking        
Segment Reporting Information [Line Items]        
Revenue 3,816 3,011 11,395 7,821
Operating income (loss) 1,086 1,332 3,509 3,227
Operating Segments | Graphics        
Segment Reporting Information [Line Items]        
Revenue 2,115 4,092 9,528 11,450
Operating income (loss) 606 2,160 3,739 6,073
All Other        
Segment Reporting Information [Line Items]        
Revenue 0 0 0 0
Operating income (loss) $ (1,091) $ (821) $ (4,280) $ (2,229)
v3.22.2.2
Segment Information - Reconciling Items (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 30, 2022
Oct. 31, 2021
Oct. 30, 2022
Oct. 31, 2021
Segment Reporting Information [Line Items]        
Stock-based compensation expense     $ (1,971) $ (1,453)
Income from operations $ 601 $ 2,671 2,968 7,071
All Other        
Segment Reporting Information [Line Items]        
Stock-based compensation expense (745) (559) (1,971) (1,453)
Acquisition-related and other costs (174) (156) (499) (482)
Unallocated cost of revenue and operating expenses (156) (106) (432) (286)
Restructuring costs (16) 0 (16) 0
Acquisition termination cost 0 0 (1,353) 0
IP-related and legal settlement costs 0 0 (7) (8)
Contributions 0 0 (2) 0
Income from operations $ (1,091) $ (821) $ (4,280) $ (2,229)
v3.22.2.2
Segment Information - Revenue (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 30, 2022
Oct. 31, 2021
Oct. 30, 2022
Oct. 31, 2021
Revenues        
Revenue $ 5,931 $ 7,103 $ 20,923 $ 19,271
United States        
Revenues        
Revenue 2,148 1,126 6,069 2,890
Taiwan        
Revenues        
Revenue 1,153 2,187 5,134 5,932
China (including Hong Kong)        
Revenues        
Revenue 1,148 2,017 4,831 5,128
Other countries        
Revenues        
Revenue $ 1,482 $ 1,773 $ 4,889 $ 5,321
v3.22.2.2
Segment Information - Schedule of Revenue by Market (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 30, 2022
Oct. 31, 2021
Oct. 30, 2022
Oct. 31, 2021
Revenue from External Customer [Line Items]        
Revenue $ 5,931 $ 7,103 $ 20,923 $ 19,271
Data Center        
Revenue from External Customer [Line Items]        
Revenue 3,833 2,936 11,389 7,350
Gaming        
Revenue from External Customer [Line Items]        
Revenue 1,574 3,221 7,236 9,042
Professional Visualization        
Revenue from External Customer [Line Items]        
Revenue 200 577 1,318 1,468
Automotive        
Revenue from External Customer [Line Items]        
Revenue 251 135 609 441
OEM and Other        
Revenue from External Customer [Line Items]        
Revenue $ 73 $ 234 $ 371 $ 970
v3.22.2.2
Segment Information - Concentration Risk (Details) - Customer Concentration Risk
3 Months Ended 9 Months Ended 12 Months Ended
Oct. 30, 2022
Oct. 30, 2022
Jan. 30, 2022
Revenue | Compute & Networking | One Customer      
Revenue, Major Customer [Line Items]      
Concentration risk (as percent) 10.00%    
Accounts Receivable | One Customer      
Revenue, Major Customer [Line Items]      
Concentration risk (as percent)   12.00%  
Accounts Receivable | Two Customers      
Revenue, Major Customer [Line Items]      
Concentration risk (as percent)     22.00%