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NVIDIA Corp. (NVDA)


Balance Sheet: Liabilities and Stockholders’ Equity

Difficulty: Beginner

The balance sheet provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

NVIDIA Corp., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

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Jan 27, 2019 Jan 28, 2018 Jan 29, 2017 Jan 31, 2016 Jan 25, 2015 Jan 26, 2014
Accounts payable 511  596  485  296  293  324 
Customer program accruals 302  181  197  160  147  158 
Accrued payroll and related expenses 186  172  137  79  112  110 
Deferred revenue 92  53  85  322  293  273 
Taxes payable 91  33 
Accrued legal settlement costs 24  —  —  —  —  31 
Coupon interest on debt obligations 20  20  21  — 
Warranty accrual 18  15  11 
Professional service fees 14  15  13  23  17  — 
Accrued royalties 10  17  —  — 
Other 61  36  35  41  21  40 
Accrued and other current liabilities 818  542  507  642  603  621 
Convertible short-term debt —  15  796  1,413  —  — 
Current liabilities 1,329  1,153  1,788  2,351  896  945 
Long-term debt 1,988  1,985  1,983  —  —  — 
Convertible long-term debt —  —  —  —  1,384  1,356 
Income tax payable 513  559  96  78  121  120 
Deferred revenue 46  15  44  108  172 
Deferred rent 21  —  —  — 
Employee benefits liability 20  12  10  —  —  — 
Deferred income tax liability 19  18  141  301  232  158 
Other 14  19  14  30  28  25 
Other long-term liabilities 633  632  271  453  489  475 
Capital lease obligations, long-term —  —  10  14  18 
Long-term liabilities 2,621  2,617  2,260  463  1,887  1,849 
Total liabilities 3,950  3,770  4,048  2,814  2,783  2,794 
Convertible debt conversion obligation —  —  31  87  —  — 
Preferred stock, $.001 par value; none issued —  —  —  —  —  — 
Common stock, $.001 par value
Additional paid-in capital 6,051  5,351  4,708  4,170  3,855  3,483 
Treasury stock, at cost (9,263) (6,650) (5,039) (4,048) (3,395) (2,537)
Accumulated other comprehensive income (loss) (12) (18) (16) (4)
Retained earnings 12,565  8,787  6,108  4,350  3,949  3,505 
Shareholders’ equity 9,342  7,471  5,762  4,469  4,418  4,456 
Total liabilities, convertible debt conversion obligation and shareholders’ equity 13,292  11,241  9,841  7,370  7,201  7,251 

Based on: 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), 10-K (filing date: 2015-03-12), 10-K (filing date: 2014-03-13).

Balance sheet item Description The company
Current liabilities Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. NVIDIA Corp.’s current liabilities declined from 2017 to 2018 but then slightly increased from 2018 to 2019.
Long-term liabilities Amount of obligation due after one year or beyond the normal operating cycle, if longer. NVIDIA Corp.’s long-term liabilities increased from 2017 to 2018 and from 2018 to 2019.
Total liabilities Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. NVIDIA Corp.’s total liabilities declined from 2017 to 2018 but then increased from 2018 to 2019 not reaching 2017 level.
Shareholders’ equity Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity’s stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. NVIDIA Corp.’s shareholders’ equity increased from 2017 to 2018 and from 2018 to 2019.