Stock Analysis on Net
Stock Analysis on Net

NVIDIA Corp. (NASDAQ:NVDA)

Adjustments to Financial Statements

Microsoft Excel LibreOffice Calc

Adjustments to Current Assets

NVIDIA Corp., adjusted current assets

US$ in millions

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 26, 2020 Jan 27, 2019 Jan 28, 2018 Jan 29, 2017 Jan 31, 2016
As Reported
Current assets 16,055  13,690  10,557  9,255  8,536  6,053 
Adjustments
Add: Allowance for doubtful accounts 4  2  2  4  3  2 
After Adjustment
Adjusted current assets 16,059  13,692  10,559  9,259  8,539  6,055 

Based on: 10-K (filing date: 2021-02-26), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-03-17).

Adjustments to Total Assets

NVIDIA Corp., adjusted total assets

US$ in millions

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 26, 2020 Jan 27, 2019 Jan 28, 2018 Jan 29, 2017 Jan 31, 2016
As Reported
Total assets 28,791  17,315  13,292  11,241  9,841  7,370 
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 —  —  600  228  129  243 
Add: Allowance for doubtful accounts 4  2  2  4  3  2 
Less: Long-term deferred tax assets2 806  548  560  245  7  4 
After Adjustment
Adjusted total assets 27,989  16,769  13,334  11,228  9,966  7,611 

Based on: 10-K (filing date: 2021-02-26), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-03-17).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Long-term deferred tax assets. See details »

Adjustments to Current Liabilities

NVIDIA Corp., adjusted current liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 26, 2020 Jan 27, 2019 Jan 28, 2018 Jan 29, 2017 Jan 31, 2016
As Reported
Current liabilities 3,925  1,784  1,329  1,153  1,788  2,351 
Adjustments
Less: Current deferred revenue 288  141  92  53  85  322 
Less: Current accrual for product warranty liabilities 22  15  18  15  8  11 
Less: Current accrued restructuring and other charges —  —  —  7  13  23 
After Adjustment
Adjusted current liabilities 3,615  1,628  1,219  1,078  1,682  1,995 

Based on: 10-K (filing date: 2021-02-26), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-03-17).

Adjustments to Total Liabilities

NVIDIA Corp., adjusted total liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 26, 2020 Jan 27, 2019 Jan 28, 2018 Jan 29, 2017 Jan 31, 2016
As Reported
Total liabilities 11,898  5,111  3,950  3,770  4,048  2,814 
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  —  600  228  129  243 
Less: Long-term deferred tax liabilities (included in Other long-term liabilities)2 241  29  19  18  141  301 
Less: Deferred revenue 451  201  138  68  89  366 
Less: Accrual for product warranty liabilities 22  15  18  15  8  11 
Less: Accrued restructuring and other charges —  —  —  7  13  23 
After Adjustment
Adjusted total liabilities 11,184  4,866  4,375  3,890  3,926  2,356 

Based on: 10-K (filing date: 2021-02-26), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-03-17).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Long-term deferred tax liabilities (included in Other long-term liabilities). See details »

Adjustments to Stockholders’ Equity

NVIDIA Corp., adjusted shareholders’ equity

US$ in millions

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 26, 2020 Jan 27, 2019 Jan 28, 2018 Jan 29, 2017 Jan 31, 2016
As Reported
Shareholders’ equity 16,893  12,204  9,342  7,471  5,762  4,469 
Adjustments
Less: Net deferred tax asset (liability)1 565  519  541  227  (134) (297)
Add: Allowance for doubtful accounts 4  2  2  4  3  2 
Add: Deferred revenue 451  201  138  68  89  366 
Add: Accrual for product warranty liabilities 22  15  18  15  8  11 
Add: Accrued restructuring and other charges —  —  —  7  13  23 
After Adjustment
Adjusted shareholders’ equity 16,805  11,903  8,959  7,338  6,009  5,168 

Based on: 10-K (filing date: 2021-02-26), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-03-17).

1 Net deferred tax asset (liability). See details »

Adjustments to Capitalization Table

NVIDIA Corp., adjusted capitalization table

US$ in millions

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 26, 2020 Jan 27, 2019 Jan 28, 2018 Jan 29, 2017 Jan 31, 2016
As Reported
Short-term debt 999  —  —  15  796  1,413 
Long-term debt 5,964  1,991  1,988  1,985  1,983  — 
Capital lease obligations, long-term —  —  —  —  6  10 
Total reported debt 6,963  1,991  1,988  2,000  2,785  1,423 
Shareholders’ equity 16,893  12,204  9,342  7,471  5,762  4,469 
Total reported capital 23,856  14,195  11,330  9,471  8,547  5,892 
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  —  600  228  129  243 
Add: Short-term operating lease liabilities2 121  91  —  —  —  — 
Add: Long-term operating lease liabilities3 634  561  —  —  —  — 
Adjusted total debt 7,718  2,643  2,588  2,228  2,914  1,666 
Adjustments to Equity
Less: Net deferred tax asset (liability)4 565  519  541  227  (134) (297)
Add: Allowance for doubtful accounts 4  2  2  4  3  2 
Add: Deferred revenue 451  201  138  68  89  366 
Add: Accrual for product warranty liabilities 22  15  18  15  8  11 
Add: Accrued restructuring and other charges —  —  —  7  13  23 
Adjusted shareholders’ equity 16,805  11,903  8,959  7,338  6,009  5,168 
After Adjustment
Adjusted total capital 24,523  14,546  11,547  9,566  8,923  6,834 

Based on: 10-K (filing date: 2021-02-26), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-03-17).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Short-term operating lease liabilities. See details »

3 Long-term operating lease liabilities. See details »

4 Net deferred tax asset (liability). See details »

Adjustments to Revenues

NVIDIA Corp., adjusted revenue

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Jan 31, 2021 Jan 26, 2020 Jan 27, 2019 Jan 28, 2018 Jan 29, 2017 Jan 31, 2016
As Reported
Revenue 16,675  10,918  11,716  9,714  6,910  5,010 
Adjustment
Add: Increase (decrease) in deferred revenue 250  63  70  (21) (277) (38)
After Adjustment
Adjusted revenue 16,925  10,981  11,786  9,693  6,633  4,972 

Based on: 10-K (filing date: 2021-02-26), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-03-17).

Adjustments to Reported Income

NVIDIA Corp., adjusted net income

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Jan 31, 2021 Jan 26, 2020 Jan 27, 2019 Jan 28, 2018 Jan 29, 2017 Jan 31, 2016
As Reported
Net income 4,332  2,796  4,141  3,047  1,666  614 
Adjustments
Add: Deferred income tax expense (benefit)1 (282) 18  (315) (359) 197  134 
Add: Increase (decrease) in allowance for doubtful accounts 2  —  (2) 1  1  (1)
Add: Increase (decrease) in deferred revenue 250  63  70  (21) (277) (38)
Add: Increase (decrease) in accrual for product warranty liabilities 7  (3) 3  7  (3) 3 
Add: Increase (decrease) in accrued restructuring and other charges —  —  (7) (6) (10) 23 
Add: Other comprehensive income (loss), net of tax 18  13  6  (2) (12) (12)
After Adjustment
Adjusted net income 4,327  2,887  3,896  2,667  1,562  723 

Based on: 10-K (filing date: 2021-02-26), 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-03-01), 10-K (filing date: 2016-03-17).

1 Deferred income tax expense (benefit). See details »