[x]
|
ANNUAL
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
|
For the fiscal year ended
January 25, 2009
|
[_]
|
TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934
|
Delaware
|
94-3177549
|
(State
or other jurisdiction of
|
(I.R.S.
Employer
|
Incorporation
or Organization)
|
Identification
No.)
|
Title
of each class
|
Name
of each exchange on which registered
|
Common
Stock, $0.001 par value per share
|
The
NASDAQ Global Select Market
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Page
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4
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15
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30
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30
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31
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35
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36
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39
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40
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61
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62
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62
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62
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62
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63
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63
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63
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64
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64
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65
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112
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·
|
suppliers
of discrete MCPs that incorporate a combination of networking, audio,
communications and input/output, or I/O, functionality as part of their
existing solutions, such as AMD, Broadcom Corporation, or Broadcom,
Silicon Integrated Systems, Inc., or SIS, VIA Technologies,
Inc., or VIA, and Intel;
|
·
|
suppliers
of GPUs, including MCPs that incorporate 3D graphics functionality as part
of their existing solutions, such as AMD, Intel, Matrox Electronics
Systems Ltd., SIS, and VIA;
|
·
|
suppliers
of computer-on-a-chip products that support netbooks, PNDs, PMPs, PDAs,
cellular phones or other handheld devices such as AMD, Broadcom, Fujitsu
Limited, Imagination Technologies Ltd., ARM Holdings plc, Marvell
Technology Group Ltd, or Marvell, NEC Corporation, Qualcomm Incorporated,
Renesas Technology, Samsung, Seiko-Epson, Texas Instruments Incorporated,
and Toshiba America, Inc.; and
|
·
|
suppliers
of computer-on-a-chip products for handheld and embedded devices that
incorporate multimedia processing as part of their existing solutions such
as Broadcom, Texas Instruments Inc., Qualcomm Incorporated, Marvell,
Freescale Semiconductor Inc., Renesas Technology, Samsung, and ST
Microelectronics.
|
·
|
the
location in which our products are
manufactured;
|
·
|
our
strategic technology or product directions in different countries;
and
|
·
|
the
degree to which intellectual property laws exist and are meaningfully
enforced in different
jurisdictions.
|
·
|
the
commercial significance of our operations and our competitors’ operations
in particular countries and
regions;
|
Name
|
Age
|
Position
|
||
Jen-Hsun
Huang
|
45
|
President,
Chief Executive Officer and Director
|
||
David
L. White*
|
53
|
Executive
Vice President and Chief Financial Officer
|
||
Ajay
K. Puri
|
54
|
Executive
Vice President, Worldwide Sales
|
||
David
M. Shannon
|
53
|
Executive
Vice President, General Counsel and Secretary
|
||
Debora
Shoquist
|
54
|
Executive
Vice President,
Operations
|
·
|
if
there were a sudden and significant decrease in demand for our
products;
|
·
|
if
there were a higher incidence of inventory obsolescence because of rapidly
changing technology and customer
requirements;
|
·
|
if
we fail to estimate customer demand properly for our older products as our
newer products are introduced; or
|
·
|
if
our competition were to take unexpected competitive pricing
actions.
|
·
|
the
mix of our products sold;
|
·
|
average
selling prices;
|
·
|
introduction
of new products;
|
·
|
product
transitions;
|
·
|
sales
discounts;
|
·
|
unexpected
pricing actions by our competitors;
|
·
|
the
cost of product components; and
|
·
|
the
yield of wafers produced by the foundries that manufacture our
products.
|
·
|
product
performance;
|
·
|
product
bundling by competitors with multiple product
lines;
|
·
|
breadth
and frequency of product offerings;
|
·
|
access
to customers and distribution
channels;
|
·
|
backward-forward
software support;
|
·
|
conformity
to industry standard application programming interfaces;
and
|
·
|
manufacturing
capabilities.
|
·
|
suppliers
of discrete MCPs that incorporate a combination of networking, audio,
communications and input/output, or I/O, functionality as part of their
existing solutions, such as AMD, Broadcom Corporation, or Broadcom,
Silicon Integrated Systems, Inc., or SIS, VIA Technologies,
Inc., or VIA, and Intel;
|
·
|
suppliers
of GPUs, including MCPs that incorporate 3D graphics functionality as part
of their existing solutions, such as AMD, Intel, Matrox Electronics
Systems Ltd., SIS, and VIA;
|
·
|
suppliers
of computer-on-a-chip products that support netbooks, PNDs, PMPs, PDAs,
cellular phones or other handheld devices such as AMD, Broadcom, Fujitsu
Limited, Imagination Technologies Ltd., ARM Holdings plc, Marvell
Technology Group Ltd, or Marvell, NEC Corporation, Qualcomm Incorporated,
Renesas Technology, Samsung, Seiko-Epson, Texas Instruments Incorporated,
and Toshiba America, Inc.; and
|
·
|
suppliers
of computer-on-a-chip products for handheld and embedded devices that
incorporate multimedia processing as part of their existing solutions such
as Broadcom, Texas Instruments Inc., Qualcomm Incorporated, Marvell,
Freescale Semiconductor Inc., Renesas Technology, Samsung, and ST
Microelectronics.
|
·
|
international
economic and political conditions, such as political tensions between
countries in which we do business;
|
·
|
unexpected
changes in, or impositions of, legislative or regulatory requirements;
|
·
|
complying
with a variety of foreign laws;
|
·
|
differing
legal standards with respect to protection of intellectual property and
employment practices;
|
·
|
cultural
differences in the conduct of
business;
|
·
|
inadequate
local infrastructure that could result in business
disruptions;
|
·
|
exporting
or importing issues related to export or import restrictions, tariffs,
quotas and other trade barriers and
restrictions;
|
·
|
financial
risks such as longer payment cycles, difficulty in collecting accounts
receivable and fluctuations in currency exchange
rates;
|
·
|
imposition
of additional taxes and
penalties; and
|
·
|
other
factors beyond our control such as terrorism, civil unrest, war and
diseases such as severe acute respiratory syndrome and the Avian flu.
|
·
|
market
demand for new products and enhancements to existing
products;
|
·
|
timely
completion and introduction of new product designs and new opportunities
for existing products;
|
·
|
seamless
transitions from an older product to a new
product;
|
·
|
differentiation
of our new products from those of our
competitors;
|
·
|
delays
in volume shipments of our
products;
|
·
|
market
acceptance of our products instead of our customers' products;
and
|
·
|
availability
of adequate quantity and configurations of various types of memory
products.
|
·
|
anticipate
the features and functionality that customers and consumers will demand;
|
·
|
incorporate
those features and functionalities into products that meet the exacting
design requirements of our
customers;
|
·
|
price
our products competitively; and
|
·
|
introduce
products to the market within our customers’ limited design cycles.
|
·
|
difficulty
in combining the technology, products, operations or workforce of the
acquired business with our
business;
|
·
|
difficulty
in operating in a new or multiple new
locations;
|
·
|
disruption
of our ongoing businesses or the ongoing business of the company we invest
in or acquire;
|
·
|
difficulty
in realizing the potential financial or strategic benefits of the
transaction;
|
·
|
difficulty
in maintaining uniform standards, controls, procedures and
policies;
|
·
|
disruption
of or delays in ongoing research and development
efforts;
|
·
|
diversion
of capital and other resources;
|
·
|
assumption
of liabilities;
|
·
|
diversion
of resources and unanticipated expenses resulting from litigation
arising from potential or actual business acquisitions or
investments;
|
· | difficulties in entering into new markets in which we have limited or no experience and where competitors in such markets have stronger positions; and |
·
|
impairment
of relationships with employees and customers, or the loss of any of our
key employees or customers our target’s key employees or customers, as a
result of our acquisition or
investment.
|
·
|
assert
claims of infringement of our intellectual
property;
|
·
|
enforce
our patents;
|
·
|
protect
our trade secrets or know-how; or
|
·
|
determine
the enforceability, scope and validity of the propriety rights of
others.
|
·
|
the
commercial significance of our operations and our competitors’ operations
in particular countries and
regions;
|
·
|
the
location in which our products are
manufactured;
|
·
|
our
strategic technology or product directions in different countries; and
|
·
|
the
degree to which intellectual property laws exist and are meaningfully
enforced in different
jurisdictions.
|
·
|
the
possibility of environmental contamination and the costs associated with
fixing any environmental
problems;
|
·
|
adverse
changes in the value of these properties, due to interest rate changes,
changes in the neighborhood in which the property is located, or other
factors;
|
·
|
the
risk of loss if we decide to sell and are not able to recover all
capitalized costs;
|
·
|
increased
cash commitments for the possible construction of a campus;
|
·
|
the
possible need for structural improvements in order to comply with zoning,
seismic and other legal or regulatory
requirements;
|
·
|
increased
operating expenses for the buildings or the property or
both;
|
·
|
possible
disputes with third parties, such as neighboring owners or others, related
to the buildings or the property or both;
and
|
·
|
the
risk of financial loss in excess of amounts covered by insurance, or
uninsured risks, such as the loss caused by damage to the buildings as a
result of earthquakes, floods and or other natural
disasters.
|
·
|
the
jurisdictions in which profits are determined to be earned and
taxed;
|
·
|
adjustments
to estimated taxes upon finalization of various tax
returns;
|
·
|
changes
in available tax credits;
|
·
|
changes
in share-based compensation
expense;
|
·
|
changes
in tax laws, the interpretation of tax laws either in the United States or
abroad or the issuance of new interpretative accounting guidance
related to uncertain transactions and calculations where the tax treatment
was previously uncertain; and
|
·
|
the
resolution of issues arising from tax audits with various tax
authorities.
|
·
|
the
ability of our Board to create and issue preferred stock without prior
stockholder approval;
|
·
|
the
prohibition of stockholder action by written
consent;
|
·
|
a
classified Board; and
|
·
|
advance
notice requirements for director nominations and stockholder
proposals.
|
High
|
Low
|
|||||||
Fiscal
year ending January 31, 2010
|
||||||||
First
Quarter (through March 10, 2009)
|
$
|
9.97
|
$
|
7.21
|
||||
Fiscal
year ended January 25, 2009
|
||||||||
Fourth
Quarter
|
$
|
9.45
|
$
|
5.75
|
||||
Third
Quarter
|
$
|
14.12
|
$
|
5.97
|
||||
Second
Quarter
|
$
|
25.35
|
$
|
10.70
|
||||
First
Quarter
|
$
|
27.59
|
$
|
17.31
|
||||
Fiscal
year ended January 27, 2008
|
||||||||
Fourth
Quarter
|
$
|
38.20
|
$
|
22.33
|
||||
Third
Quarter (1)
|
$
|
39.67
|
$
|
27.00
|
||||
Second
Quarter (1)
|
$
|
31.89
|
$
|
21.47
|
||||
First
Quarter (1)
|
$
|
23.27
|
$
|
18.69
|
1/25/2004
|
1/30/2005
|
1/29/2006
|
1/28/2007
|
1/27/2008
|
1/25/2009
|
|||||||||||||||||||
NVIDIA
Corporation
|
$
|
100.00
|
$
|
99.09
|
$
|
200.30
|
$
|
272.59
|
$
|
324.17
|
$
|
100.17
|
||||||||||||
S
& P 500
|
$
|
100.00
|
$
|
106.23
|
$
|
117.26
|
$
|
134.28
|
$
|
131.17
|
$
|
80.50
|
||||||||||||
S
& P Semiconductors
|
$
|
100.00
|
$
|
75.16
|
$
|
86.90
|
$
|
81.82
|
$
|
76.25
|
$
|
45.17
|
1/21/1999
|
1/31/1999
|
1/30/2000
|
1/28/2001
|
1/27/2002
|
1/24/2003
|
1/25/2004
|
1/30/2005
|
1/29/2006
|
1/28/2007
|
1/27/2008
|
1/25/2009
|
||||||||||||||||||||||||||||||||||||||||
NVIDIA
Corporation
|
$
|
100.00
|
$
|
158.33
|
$
|
311.46
|
$
|
846.88
|
$
|
2,182.33
|
$
|
339.00
|
$
|
769.67
|
$
|
762.67
|
$
|
1,541.67
|
$
|
2,098.00
|
$
|
2,495.00
|
$ 771.00
|
||||||||||||||||||||||||||||
S&P
500
|
$
|
100.00
|
$
|
104.18
|
$
|
114.96
|
$
|
113.93
|
$
|
95.53
|
$
|
73.54
|
$
|
98.97
|
$
|
105.13
|
$
|
116.05
|
$
|
132.89
|
$
|
129.82
|
$ 79.67
|
||||||||||||||||||||||||||||
S&P
Semiconductors
|
$
|
100.00
|
$
|
119.64
|
$
|
180.33
|
$
|
145.17
|
$
|
112.96
|
$
|
50.00
|
$
|
99.52
|
$
|
74.79
|
$
|
86.48
|
$
|
81.43
|
$
|
75.88
|
$ 45.49
|
Year
Ended
|
||||||||||||||||
January
25,
|
January
27,
|
January
28,
|
January
29,
|
January
30,
|
||||||||||||
2009
(B)
|
2008
(C)
|
2007
(C,D)
|
2006
(E)
|
2005
|
||||||||||||
(In
thousands, except per share data)
|
||||||||||||||||
Consolidated
Statement of Operations Data:
|
||||||||||||||||
Revenue
|
$
|
3,424,859
|
$
|
4,097,860
|
$
|
3,068,771
|
$
|
2,375,687
|
$
|
2,010,033
|
||||||
Income
(loss) from operations
|
$
|
(70,700
|
)
|
$
|
836,346
|
$
|
453,452
|
$
|
336,664
|
$
|
95,176
|
|||||
Net
income (loss)
|
$
|
(30,041
|
)
|
$
|
797,645
|
$
|
448,834
|
$
|
301,176
|
$
|
88,615
|
|||||
Basic
net income (loss) per share
|
$
|
(0.05
|
) |
$
|
1.45
|
$
|
0.85
|
$
|
0.59
|
$
|
0.18
|
|||||
Diluted
net income (loss) per share
|
$
|
(0.05
|
)
|
$
|
1.31
|
$
|
0.76
|
$
|
0.55
|
$
|
0.17
|
|||||
Shares
used in basic per share computation (A)
|
548,126
|
550,108
|
528,606
|
509,070
|
498,186
|
|||||||||||
Shares
used in diluted per share computation (A)
|
548,126
|
606,732
|
587,256
|
548,556
|
527,436
|
January
25,
|
January
27,
|
January
28,
|
January
29,
|
January
30,
|
||||||||||||
2009
|
2008
|
2007
|
2006
|
2005
|
||||||||||||
(In
thousands)
|
||||||||||||||||
Consolidated
Balance Sheet Data:
|
||||||||||||||||
Cash,
cash equivalents and marketable securities
|
$
|
1,255,390
|
$
|
1,809,478
|
$
|
1,117,850
|
$
|
950,174
|
$
|
670,045
|
||||||
Total
assets
|
$
|
3,350,727
|
$
|
3,747,671
|
$
|
2,675,263
|
$
|
1,954,687
|
$
|
1,663,551
|
||||||
Capital
lease obligations, less current portion
|
$
|
25,634
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
||||||
Total
stockholders’ equity
|
$
|
2,394,652
|
$
|
2,617,912
|
$
|
2,006,919
|
$
|
1,495,992
|
$
|
1,221,091
|
||||||
Cash
dividends declared per common share
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
Weighted
average expected life of stock options (in years)
|
3.6
- 5.8
|
|||
Risk
free interest rate
|
1.7%
- 3.7
|
%
|
||
Volatility
|
52%
- 105
|
%
|
||
Dividend
yield
|
-
|
Weighted
average expected life of stock options (in years)
|
0.5
- 2.0
|
|||
Risk
free interest rate
|
1.6%
- 2.4
|
%
|
||
Volatility
|
62%
- 68
|
%
|
||
Dividend
yield
|
-
|
Year
Ended
|
||||||||
January
25, 2009
|
January
27, 2008
|
January
28, 2007
|
||||||
Revenue
|
100.0
|
%
|
100.0
|
%
|
100.0
|
%
|
||
Cost
of revenue
|
65.7
|
54.4
|
57.6
|
|||||
Gross
profit
|
34.3
|
45.6
|
42.4
|
|||||
Operating
expenses:
|
||||||||
Research
and development
|
25.0
|
16.9
|
18.0
|
|||||
Sales,
general and administrative
|
10.6
|
8.3
|
9.6
|
|||||
Restructuring
charges and other
|
0.8
|
-
|
-
|
|||||
Total
operating expenses
|
36.4
|
25.2
|
27.6
|
|||||
Income
(loss) from operations
|
(2.1
|
)
|
20.4
|
14.8
|
||||
Interest
and other income, net
|
0.8
|
1.6
|
1.3
|
|||||
Income
(loss) before income taxes
|
(1.3
|
)
|
22.0
|
16.1
|
||||
Income
tax expense (benefit)
|
(0.4
|
)
|
2.5
|
1.5
|
||||
Net
income (loss)
|
(0.9
|
)%
|
19.5
|
%
|
14.6
|
%
|
Year
Ended
|
||||||||||
January 25,
2009
|
January 27,
2008
|
January 28,
2007
|
||||||||
Revenue:
|
||||||||||
Customer
A
|
11
|
%
|
7
|
%
|
4
|
%
|
||||
Customer
B
|
8
|
%
|
10
|
%
|
12
|
%
|
Year
Ended
|
Year
Ended
|
|||||||||||||||||||||||||||||||
January
25,
2009
|
January
27,
2008
|
$
Change
|
%
Change
|
January
27,
2008
|
January 28,
2007
|
$
Change
|
%
Change
|
|||||||||||||||||||||||||
(In
millions)
|
(In
millions)
|
|||||||||||||||||||||||||||||||
Research
and development expenses
|
$
|
855.9
|
$
|
691.6
|
$
|
164.3
|
24
|
%
|
$
|
691.6
|
$
|
553.5
|
$
|
138.1
|
25
|
%
|
||||||||||||||||
Sales,
general and administrative expenses
|
362.2
|
341.3
|
20.9
|
6
|
%
|
341.3
|
293.5
|
47.8
|
16
|
%
|
||||||||||||||||||||||
Restructuring
charges and other
|
26.9
|
-
|
26.9
|
100
|
%
|
-
|
-
|
-
|
-
|
|
||||||||||||||||||||||
Total operating expenses
|
$
|
1,245.0
|
$
|
1,032.9
|
$
|
212.1
|
21
|
%
|
$
|
1,032.9
|
$
|
847.0
|
$
|
185.9
|
22
|
%
|
||||||||||||||||
Research
and development as a percentage of net revenue
|
25
|
%
|
17
|
%
|
17
|
%
|
18
|
%
|
||||||||||||||||||||||||
Sales,
general and administrative as a percentage of net
revenue
|
11
|
%
|
8
|
%
|
8
|
%
|
10
|
%
|
January
25, 2009
|
January
27, 2008
|
|||||||
(In
millions)
|
||||||||
Cash
and cash equivalents
|
$
|
417.7
|
$
|
727.0
|
||||
Marketable
securities
|
837.7
|
1,082.5
|
||||||
Cash,
cash equivalents, and marketable securities
|
$
|
1,255.4
|
$
|
1,809.5
|
Year
Ended
|
||||||||||||
January
25,
|
January
27,
|
January
28,
|
||||||||||
2009
|
2008
|
2007
|
||||||||||
(In
millions)
|
||||||||||||
Net
cash provided by operating activities
|
$
|
249.4
|
$
|
1,270.2
|
$
|
572.7
|
||||||
Net
cash used in investing activities
|
(209.4
|
)
|
(761.3
|
)
|
(526.4
|
)
|
||||||
Net
cash used in financing activities
|
(349.3
|
)
|
(326.3
|
)
|
(53.6
|
)
|
·
|
decreased
demand and market acceptance for our products and/or our customers’
products;
|
·
|
inability
to successfully develop and produce in volume production our
next-generation products;
|
·
|
competitive
pressures resulting in lower than expected average selling prices;
and
|
·
|
new
product announcements or product introductions by our
competitors.
|
Contractual
Obligations
|
Total
|
Within
1 Year
|
2-3
Years
|
4-5
Years
|
After
5 Years
|
All
Other
|
||||||||||||||||||
(In
thousands)
|
||||||||||||||||||||||||
Operating
leases
|
$
|
153,625
|
$
|
44,448
|
$
|
83,959
|
$
|
21,150
|
$
|
4,068
|
$
|
-
|
||||||||||||
Capital
lease
|
47,976
|
4,185
|
8,751
|
9,283
|
25,757
|
-
|
||||||||||||||||||
Purchase
obligations (1)
|
290,662
|
290,662
|
-
|
-
|
-
|
-
|
||||||||||||||||||
FIN
48 liability and interest (2)
|
107,116
|
-
|
-
|
-
|
-
|
107,116
|
||||||||||||||||||
Capital
purchase obligations
|
20,328
|
20,328
|
-
|
-
|
-
|
-
|
||||||||||||||||||
Total
contractual obligations
|
$
|
619,707
|
$
|
359,623
|
$
|
92,710
|
$
|
30,433
|
$
|
29,825
|
$
|
107,116
|
Page
|
|||
(a)
|
1.
|
Consolidated
Financial Statements
|
|
66
|
|||
67
|
|||
68
|
|||
69
|
|||
70
|
|||
71
|
|||
(a)
|
2.
|
Financial
Statement Schedule
|
|
109
|
|||
(a)
|
3.
|
Exhibits
|
|
113
|
|||
Year
Ended
|
||||||||||||
January 25,
2009
|
January 27,
2008
|
January 28,
2007
|
||||||||||
Revenue
|
$
|
3,424,859
|
$
|
4,097,860
|
$
|
3,068,771
|
||||||
Cost
of revenue
|
2,250,590
|
2,228,580
|
1,768,322
|
|||||||||
Gross
profit
|
1,174,269
|
1,869,280
|
1,300,449
|
|||||||||
Operating
expenses:
|
||||||||||||
Research and development
|
855,879
|
691,637
|
553,467
|
|||||||||
Sales,
general and administrative
|
362,222
|
341,297
|
293,530
|
|||||||||
Restructuring
charges and other
|
26,868
|
-
|
-
|
|||||||||
Total
operating expenses
|
1,244,969
|
1,032,934
|
846,997
|
|||||||||
Income
(loss) from operations
|
(70,700
|
)
|
836,346
|
453,452
|
||||||||
Interest
income
|
42,859
|
64,289
|
41,820
|
|||||||||
Interest
expense
|
(406
|
)
|
(54
|
)
|
(21
|
)
|
||||||
Other
income (expense), net
|
(14,707
|
)
|
760
|
(771
|
)
|
|||||||
Income
(loss) before income tax
|
(42,954
|
)
|
901,341
|
494,480
|
||||||||
Income
tax expense (benefit)
|
(12,913
|
)
|
103,696
|
46,350
|
||||||||
Income
(loss) before change in accounting principle
|
(30,041
|
)
|
797,645
|
448,130
|
||||||||
Cumulative
effect of change in accounting principle, net of tax
|
-
|
-
|
704
|
|||||||||
Net
income (loss)
|
$
|
(30,041
|
)
|
$
|
797,645
|
$
|
448,834
|
|||||
Basic
income (loss) per share:
|
||||||||||||
Income
(loss) before change in accounting principle
|
$
|
(0.05
|
)
|
$
|
1.45
|
$
|
0.85
|
|||||
Cumulative
effect of change in accounting principle
|
-
|
-
|
-
|
|||||||||
Basic
net income (loss) per share
|
$
|
(0.05
|
)
|
$
|
1.45
|
$
|
0.85
|
|||||
Shares
used in basic per share computation (1)
|
548,126
|
550,108
|
528,606
|
|||||||||
Diluted
income (loss) per share:
|
||||||||||||
Income
(loss) before change in accounting principle
|
$
|
(0.05
|
)
|
$
|
1.31
|
$
|
0.76
|
|||||
Cumulative
effect of change in accounting principle
|
-
|
-
|
-
|
|||||||||
Diluted
net income (loss) per share
|
$
|
(0.05
|
)
|
$
|
1.31
|
$
|
0.76
|
|||||
Shares
used in diluted per share computation (1)
|
548,126
|
606,732
|
587,256
|
|||||||||
January
25, 2009
|
January
27, 2008
|
|||||||
ASSETS
|
||||||||
Current
assets :
|
||||||||
Cash and cash equivalents
|
$
|
417,688
|
$
|
726,969
|
||||
Marketable securities
|
837,702
|
1,082,509
|
||||||
Accounts receivable, less allowances of $18,399 and $19,693 in 2009 and
2008, respectively
|
318,435
|
666,494
|
||||||
Inventories
|
537,834
|
358,521
|
||||||
Prepaid expenses and other
|
39,794
|
43,068
|
||||||
Deferred income taxes
|
16,505
|
11,268
|
||||||
Total
current assets
|
2,167,958
|
2,888,829
|
||||||
Property
and equipment, net
|
625,798
|
359,808
|
||||||
Goodwill
|
369,844
|
354,057
|
||||||
Intangible
assets, net
|
147,101
|
106,926
|
||||||
Deposits
and other assets
|
40,026
|
38,051
|
||||||
Total
assets
|
$
|
3,350,727
|
$
|
3,747,671
|
||||
LIABILITIES
AND STOCKHOLDERS’ EQUITY
|
||||||||
Current
liabilities:
|
||||||||
Accounts payable
|
$
|
218,864
|
$
|
492,099
|
||||
Accrued liabilities and other
|
559,727
|
475,062
|
||||||
Total
current liabilities
|
778,591
|
967,161
|
||||||
Other
long-term liabilities
|
151,850
|
162,598
|
||||||
Capital
lease obligations, long term
|
25,634
|
—
|
||||||
Commitments
and contingencies - see Note 12
|
||||||||
Stockholders’
equity:
|
||||||||
Preferred stock, $.001 par value; 2,000,000 shares authorized; none
issued
|
—
|
—
|
||||||
Common stock, $.001 par value; 2,000,000,000 shares authorized;
629,386,584 shares issued and 538,460,766 outstanding in 2009; and
618,701,483 shares issued and 557,102,588 outstanding in
2008, respectively
|
629
|
619
|
||||||
Additional paid-in capital
|
1,889,257
|
1,654,681
|
||||||
Treasury stock, at cost (90,925,818 shares in 2009 and
61,598,895 shares in 2008)
|
(1,463,268
|
)
|
(1,039,632
|
)
|
||||
Accumulated other comprehensive income
|
3,865
|
8,034
|
||||||
Retained earnings
|
1,964,169
|
1,994,210
|
||||||
Total
stockholders' equity
|
2,394,652
|
2,617,912
|
||||||
Total
liabilities and stockholders' equity
|
$
|
3,350,727
|
$
|
3,747,671
|
||||
Common
Stock
|
||||||||||||||||||||||||||||||||||||
Outstanding
Shares
(1)
|
Amount (1)
|
Additional
Paid-in Capital (1)
|
Deferred
Compensation
|
Treasury
Stock
|
Accumulated
Other Comprehensive Income(Loss)
|
Retained
Earnings
|
Total
Stockholders' Equity
|
Total
Comprehensive Income
|
||||||||||||||||||||||||||||
Balances,
January 29, 2006
|
514,432,368 | $ | 540 | $ | 965,424 | $ | (3,604 | ) | $ | (212,142 | ) | $ | (1,957 | ) | $ | 747,731 | $ | 1,495,992 | $ | 302,682 | ||||||||||||||||
Issuance
of common stock from stock plans
|
42,571,532 | 43 | 221,117 | - | - | - | - | 221,160 | ||||||||||||||||||||||||||||
Stock
repurchase
|
(15,506,144 | ) | - | - | - | (274,978 | ) | - | - | (274,978 | ) | |||||||||||||||||||||||||
Tax
deficit from stock-based compensation
|
- | - | (8,482 | ) | - | - | - | - | (8,482 | ) | ||||||||||||||||||||||||||
Reversal
of deferred compensation upon adoption of SFAS No. 123(R)
|
- | - | (3,604 | ) | 3,604 | - | - | - | - | |||||||||||||||||||||||||||
Stock-based
compensation expense related to acquisitions
|
- | - | 2,914 | - | - | - | - | 2,914 | ||||||||||||||||||||||||||||
Stock-based
compensation related to employees
|
- | - | 118,790 | - | - | - | - | 118,790 | ||||||||||||||||||||||||||||
Unrealized
gain, net of $1,223 tax effect
|
- | - | - | - | - | 3,509 | - | 3,509 | 3,509 | |||||||||||||||||||||||||||
Reclassification adjustment
for net realized gains included in net income, net of $78 tax
effect
|
- | - | - | - | - | (116 | ) | - | (116 | ) | (116 | ) | ||||||||||||||||||||||||
Impact
of change in accounting principle, net of ($379) tax
effect
|
- | - | (704 | ) | - | - | - | - | (704 | ) | ||||||||||||||||||||||||||
Net
Income
|
- | - | - | - | - | - | 448,834 | 448,834 | 448,834 | |||||||||||||||||||||||||||
Balances,
January 28, 2007
|
541,497,756 | 583 | 1,295,455 | - | (487,120 | ) | 1,436 | 1,196,565 | 2,006,919 | 452,227 | ||||||||||||||||||||||||||
Issuance
of common stock from stock plans
|
36,238,014 | 36 | 225,933 | - | - | - | - | 225,969 | ||||||||||||||||||||||||||||
Stock
repurchase
|
(20,633,182 | ) | - | - | - | (552,512 | ) | - | - | (552,512 | ) | |||||||||||||||||||||||||
Tax
benefit from stock-based compensation
|
- | - | 220 | - | - | - | - | 220 | ||||||||||||||||||||||||||||
Stock-based
compensation related to employees
|
- | - | 133,073 | - | - | - | - | 133,073 | ||||||||||||||||||||||||||||
Unrealized gain, net of $2,860 tax effect | - | - | - | - | - | 6,703 | - | 6,703 | 6,703 | |||||||||||||||||||||||||||
Reclassification
adjustment for net realized gains included in net income, net of $4 tax
effect
|
- | - | - | - | - | (105 | ) | - | (105 ) | (105 | ) | |||||||||||||||||||||||||
Net
Income
|
- | - | - | - | - | 797,645 | 797,645 | 797,645 | ||||||||||||||||||||||||||||
Balances,
January 27, 2008
|
557,102,588 | 619 | 1,654,681 | - | (1,039,632 | ) | 8,034 | 1,994,210 | 2,617,912 | 804,243 | ||||||||||||||||||||||||||
Issuance
of common stock from stock plans
|
10,685,101 | 10 | 73,537 | - | - | - | - | 73,547 | ||||||||||||||||||||||||||||
Stock
repurchase
|
(29,326,923 | ) | - | - | - | (423,636 | ) | - | - | (423,636 | ) | |||||||||||||||||||||||||
Tax
deficit from stock-based compensation
|
- | - | (2,946 | ) | - | - | - | - | (2,946 | ) | ||||||||||||||||||||||||||
Stock-based
compensation related to employees
|
- | - | 163,985 | - | - | - | - | 163,985 | ||||||||||||||||||||||||||||
Unrealized
loss, net of $2,054 tax effect
|
- | - | - | - | - | (3,920 | ) | - | (3,920 | ) | (3,920 | ) | ||||||||||||||||||||||||
Reclassification
adjustment for net realized gains included in net income, net of $135 tax
effect
|
- | - | - | - | - | (249 | ) | - | (249 | ) | (249 | ) | ||||||||||||||||||||||||
Net
Loss
|
- | - | - | - | - | - | (30,041 | ) | (30,041 ) | (30,041 | ) | |||||||||||||||||||||||||
Balances,
January 25, 2009
|
538,460,766 | $ | 629 | $ | 1,889,257 | $ | - | $ | (1,463,268 | ) | $ | 3,865 | $ | 1,964,169 | $ | 2,394,652 | $ | (34,210 | ) |
(1)
|
Reflects
a three-for-two stock split effective on September 10, 2007 and a
two-for-one stock split effective on April 6,
2006.
|
Year
ended
|
||||||||||||
January 25,
2009
|
January 27,
2008
|
January 28,
2007
|
||||||||||
Cash
flows from operating activities:
|
||||||||||||
Net
income (loss)
|
$ | (30,041 | ) | $ | 797,645 | $ | 448,834 | |||||
Adjustments
to reconcile net income (loss) to net cash provided by operating
activities:
|
||||||||||||
Stock-based compensation expense related to
employees
|
162,706 | 133,365 | 116,735 | |||||||||
Depreciation and amortization
|
185,023 | 133,192 | 107,562 | |||||||||
Impairment charge on investments
|
9,891 | - | - | |||||||||
Deferred income taxes
|
(23,277 | ) | 89,516 | 41,766 | ||||||||
Payments under patent licensing arrangement
|
(21,797 | ) | (57,255 | ) | (14,430 | ) | ||||||
In-process research and development expenses
|
- | 4,000 | 14,002 | |||||||||
Tax benefit (deficit) from stock-based compensation
|
(2,946 | ) | 220 | (8,482 | ) | |||||||
Cumulative effect of change in accounting principle
|
- | - | (704 | ) | ||||||||
Other
|
3,134 | (436 | ) | 268 | ||||||||
Changes
in operating assets and liabilities, net of effects of
acquisitions:
|
||||||||||||
Accounts receivable
|
348,873 | (146,055 | ) | (175,261 | ) | |||||||
Inventories
|
(177,295 | ) | (3,690 | ) | (91,395 | ) | ||||||
Prepaid expenses and other current assets
|
21,528 | (6,293 | ) | (5,294 | ) | |||||||
Deposits and other assets
|
(2,108 | ) | (13,914 | ) | 7,314 | |||||||
Accounts payable
|
(283,207 | ) | 216,875 | 38,613 | ||||||||
Accrued liabilities and other long-term liabilities
|
58,876 | 123,026 | 93,153 | |||||||||
Net
cash provided by operating activities
|
249,360 | 1,270,196 | 572,681 | |||||||||
Cash
flows from investing activities:
|
||||||||||||
Purchases of marketable securities
|
(999,953 | ) | (1,250,248 | ) | (220,834 | ) | ||||||
Proceeds from sales and maturities of marketable
securities
|
1,226,646 | 753,839 | 227,067 | |||||||||
Purchases of property and equipment and intangible
assets
|
(407,670 | ) | (187,745 | ) | (130,826 | ) | ||||||
Acquisition of businesses, net of cash and cash
equivalents
|
(27,948 | ) | (75,542 | ) | (401,800 | ) | ||||||
Other
|
(442 | ) | (1,622 | ) | - | |||||||
Net
cash used in investing activities
|
(209,367 | ) | (761,318 | ) | (526,393 | ) | ||||||
Cash
flows from financing activities:
|
||||||||||||
Payments for stock repurchases
|
(423,636 | ) | (552,512 | ) | (274,978 | ) | ||||||
Proceeds from issuance of common stock under employee stock
plans
|
73,547 | 225,969 | 221,160 | |||||||||
Other
|
815 | 220 | 188 | |||||||||
Net
cash used in financing activities
|
(349,274 | ) | (326,323 | ) | (53,630 | ) | ||||||
Change
in cash and cash equivalents
|
(309,281 | ) | 182,555 | (7,342 | ) | |||||||
Cash
and cash equivalents at beginning of period
|
726,969 | 544,414 | 551,756 | |||||||||
Cash
and cash equivalents at end of period
|
$ | 417,688 | $ | 726,969 | $ | 544,414 | ||||||
Supplemental
disclosures of cash flow information:
|
||||||||||||
Cash
paid for income taxes, net
|
$ | 7,620 | $ | 2,328 | $ | 26,628 |
Year Ended
|
||||||||||||
January 25,
2009
|
January 27,
2008
|
January 28,
2007
|
||||||||||
Non-cash
activities:
|
||||||||||||
Change
in unrealized gains (losses) from marketable
securities
|
$
|
(6,360
|
)
|
$
|
9,462
|
$
|
4,492
|
|||||
Assets
acquired by assuming related liabilities
|
$
|
47,236
|
$
|
18,072
|
$
|
37,251
|
||||||
Acquisition
of business - goodwill adjustment
|
$
|
3,411
|
$
|
2,633
|
$
|
17,862
|
||||||
Deferred
stock-based compensation
|
$
|
-
|
$
|
-
|
$
|
3,604
|
||||||
Acquisition
of business - stock option conversion
|
$
|
-
|
$
|
-
|
$
|
2,914
|
Year
Ended
|
||||||||||||
January
25,
|
January
27,
|
January
28,
|
||||||||||
2009
|
2008
|
2007
|
||||||||||
(In
thousands)
|
||||||||||||
Cost
of revenue
|
$
|
11,939
|
$
|
10,886
|
$
|
8,200
|
||||||
Research
and development
|
98,007
|
76,617
|
70,077
|
|||||||||
Sales,
general and administrative
|
52,760
|
45,862
|
38,458
|
|||||||||
Total
|
$
|
162,706
|
$
|
133,365
|
$
|
116,735
|
Year
Ended
|
||||||||||||
January 25,
2009
|
January 27,
2008
|
January 28,
2007
|
||||||||||
Stock
Options
|
(Using a binomial
model)
|
|||||||||||
Weighted
average expected life of stock options (in years)
|
3.6 - 5.8
|
3.8 - 5.8
|
3.6
- 5.1
|
|||||||||
Risk
free interest rate
|
1.7%
- 3.7
|
%
|
3.3%
- 5.0
|
%
|
4.7%
- 5.1
|
%
|
||||||
Volatility
|
52%
- 105
|
%
|
37%
- 54
|
%
|
39%
- 51
|
%
|
||||||
Dividend
yield
|
—
|
—
|
—
|
Year
Ended
|
||||||||||||
January 25,
2009
|
January 27,
2008
|
January 28,
2007
|
||||||||||
Employee
Stock Purchase Plan
|
(Using the
Black-Scholes model)
|
|||||||||||
Weighted
average expected life of stock options (in years)
|
0.5
- 2.0
|
0.5
- 2.0
|
0.5
- 2.0
|
|||||||||
Risk
free interest rate
|
1.6%
- 2.4
|
%
|
3.5%
- 5.2
|
%
|
1.6%
- 5.2
|
%
|
||||||
Volatility
|
62%
- 68
|
%
|
38%
- 54
|
%
|
30%
- 47
|
%
|
||||||
Dividend
yield
|
—
|
—
|
—
|
Options
Available for Grant
|
Options
Outstanding
|
Weighted
Average Exercise Price Per Share
|
||||||||||
Balances,
January 29, 2006
|
46,966,464
|
131,937,720
|
$
|
6.33
|
||||||||
Authorized
|
1,637,075
|
-
|
-
|
|||||||||
Granted
and assumed
|
(18,809,418
|
)
|
18,809,418
|
$
|
19.73
|
|||||||
Exercised
|
-
|
(36,878,840
|
)
|
$
|
5.34
|
|||||||
Cancelled
|
2,876,306
|
(2,876,306
|
)
|
$
|
8.95
|
|||||||
Balances,
January 28, 2007
|
32,670,427
|
110,991,992
|
$
|
8.86
|
||||||||
Authorized
|
25,114,550
|
-
|
-
|
|||||||||
Granted
|
(17,201,305
|
)
|
17,201,305
|
$
|
27.32
|
|||||||
Exercised
|
-
|
(34,151,892
|
)
|
$
|
5.74
|
|||||||
Cancelled
|
3,460,332
|
(3,460,332
|
)
|
$
|
18.45
|
|||||||
Balances,
January 27, 2008
|
44,044,004
|
90,581,073
|
$
|
13.18
|
||||||||
Authorized
|
-
|
-
|
-
|
|||||||||
Granted
|
(17,888,695
|
)
|
17,888,695
|
$
|
8.03
|
|||||||
Exercised
|
-
|
(7,670,038
|
)
|
$
|
3.14
|
|||||||
Cancelled
|
3,345,450
|
(3,345,450
|
)
|
$
|
7.66
|
|||||||
Balances,
January 25, 2009
|
29,500,759
|
97,454,280
|
$
|
13.83
|
Weighted
Average Remaining Contractual Term
|
Aggregate
Intrinsic Value (1)
|
|||
Options
outstanding
|
3.16
years
|
$ |
59.1
million
|
|
Options
vested and expected to vest (2)
|
3.09
years
|
$ |
59.1
million
|
|
Options
exercisable
|
2.18
years
|
$ |
59.0
million
|
Options
Outstanding
|
Options
Exercisable
|
||||||||||||||||
Range
of Exercise Prices
|
Number
Outstanding
|
Weighted
Average
Remaining
Contractual
Life
(Years)
|
Weighted
Average
Exercise
Price
|
Number
Exercisable
|
Weighted
Average
Exercise
Price
|
||||||||||||
$
|
0.01
- $5.00
|
11,047,215
|
1.3
|
$
|
3.49
|
11,047,215
|
$
|
3.49
|
|||||||||
5.01 - 7.50
|
7,920,796
|
1.7
|
$
|
6.14
|
7,729,362
|
$
|
6.11
|
||||||||||
7.51 - 10.00
|
27,082,933
|
2.9
|
$
|
8.86
|
18,645,057
|
$
|
8.46
|
||||||||||
10.01
- 15.00
|
14,067,091
|
2.8
|
$
|
12.15
|
12,997,641
|
$
|
12.13
|
||||||||||
15.01
- 20.00
|
24,566,194
|
4.2
|
$
|
18.63
|
6,022,747
|
$
|
18.75
|
||||||||||
20.01
- 50.00
|
12,744,164
|
4.5
|
$
|
30.56
|
3,424,924
|
$
|
26.79
|
||||||||||
50.00
and above
|
25,887
|
6.7
|
$ |
64.05
|
25,887
|
$
|
67.12
|
||||||||||
97,454,280
|
3.2
|
$
|
13.83
|
59,892,833
|
$
|
10.15
|
Accrued
Restructuring Charges :
|
(In
thousands)
|
|||
Balance
at January 27, 2008
|
$
|
-
|
||
Charges
|
7,956
|
|||
Cash
payments
|
(7,440
|
)
|
||
Non-cash
charges
|
(330
|
)
|
||
Balance
at January 25, 2009
|
$
|
186
|
Year
Ended
|
||||||||||||
January 25,
2009
|
January 27,
2008
|
January 28,
2007
|
||||||||||
(In
thousands, except per share data)
|
||||||||||||
Numerator:
|
||||||||||||
Net
income (loss)
|
$
|
(30,041
|
)
|
$
|
797,645
|
$
|
448,834
|
|||||
Denominator:
|
||||||||||||
Denominator
for basic net income (loss) per share, weighted average
shares
|
548,126
|
550,108
|
528,606
|
|||||||||
Effect
of dilutive securities:
|
||||||||||||
Stock
options outstanding
|
-
|
56,624
|
58,650
|
|||||||||
Denominator
for diluted net income (loss) per share, weighted average
shares
|
548,126
|
606,732
|
587,256
|
|||||||||
Net
income (loss) per share:
|
||||||||||||
Basic
net income (loss) per share
|
$
|
(0.05
|
)
|
$
|
1.45
|
$
|
0.85
|
|||||
Diluted
net income (loss) per share
|
$
|
(0.05
|
)
|
$
|
1.31
|
$
|
0.76
|
|
Fair
Market Value
|
Straight-Line
Amortization Period
|
||||||
(In
thousands)
|
(Years)
|
|||||||
Property
and equipment
|
$
|
2,433
|
1-2
|
|||||
Trademarks
|
11,310
|
5
|
||||||
Goodwill
|
85,418
|
--
|
||||||
Total
|
$
|
99,161
|
Mental
Images
|
Ageia
|
||||||
Fair
Market Values
|
(In
thousands)
|
||||||
Cash
and cash equivalents
|
$
|
988
|
$
|
1,744
|
|||
Marketable
securities
|
-
|
28
|
|||||
Accounts
receivable
|
1,462
|
911
|
|||||
Prepaid
and other current assets
|
214
|
1,149
|
|||||
Property
and equipment
|
830
|
169
|
|||||
In-process
research and development
|
4,000
|
-
|
|||||
Goodwill
|
59,252
|
19,198
|
|||||
Intangible
assets:
|
|||||||
Existing technology
|
14,400
|
13,450
|
|||||
Customer relationships
|
6,500
|
170
|
|||||
Patents
|
5,000
|
-
|
|||||
Trademark
|
1,200
|
900
|
|||||
Total
assets acquired
|
93,846
|
37,719
|
|||||
Current
liabilities
|
(1,243
|
)
|
(6,969
|
)
|
|||
Acquisition
related costs
|
(1,313
|
)
|
(1,030
|
)
|
|||
Long-term
liabilities
|
(2,970
|
)
|
-
|
||||
Total
liabilities assumed
|
(5,526
|
)
|
(7,999
|
)
|
|||
Purchase
price allocation
|
$
|
88,320
|
$
|
29,720
|
Mental
Images
|
Ageia
|
||||||
(Straight-line
depreciation/amortization period)
|
|||||||
Property
and equipment
|
2
-5 years
|
1-2
years
|
|||||
Intangible
assets:
|
|||||||
Existing technology
|
4-5
years
|
4
years
|
|||||
Customer relationships
|
4-5
years
|
5
years
|
|||||
Patents
|
5
years
|
-
|
|||||
Trademark
|
5
years
|
5
years
|
January 25,
2009
|
January 27,
2008
|
|||||||
(In
thousands)
|
||||||||
PortalPlayer
|
$
|
104,896
|
$
|
104,473
|
||||
3dfx
|
75,326
|
75,326
|
||||||
Mental
Images
|
59,252
|
63,086
|
||||||
MediaQ
|
35,167
|
35,167
|
||||||
ULi
|
31,115
|
31,115
|
||||||
Hybrid
Graphics
|
27,906
|
27,906
|
||||||
Ageia
|
19,198
|
-
|
||||||
Other
|
16,984
|
16,984
|
||||||
Total goodwill
|
$
|
369,844
|
$
|
354,057
|
January 25, 2009
|
January 27, 2008
|
|||||||||||||||||||||||
Gross
Carrying
Amount
|
Accumulated
Amortization
|
Net Carrying
Amount
|
Weighted
Average Useful Life
|
Gross
Carrying
Amount
|
Accumulated
Amortization
|
Net Carrying
Amount
|
Weighted
Average Useful Life
|
|||||||||||||||||
(In
thousands)
|
(In years)
|
(In
thousands)
|
(In years)
|
|||||||||||||||||||||
Technology
licenses
|
$
|
130,654
|
$
|
(34,610
|
)
|
$
|
96,044
|
9.4
|
$
|
94,970
|
$
|
(32,630
|
)
|
$
|
62,340
|
9.1
|
||||||||
Acquired
intellectual property
|
75,340
|
(35,200
|
)
|
40,140
|
4.0
|
77,900
|
(41,030
|
)
|
36,870
|
4.1
|
||||||||||||||
Patents
|
18,588
|
(7,671
|
)
|
10,917
|
5.3
|
35,348
|
(27,632
|
)
|
7,716
|
4.3
|
||||||||||||||
Other
|
-
|
-
|
-
|
-
|
1,494
|
(1,494
|
)
|
-
|
-
|
|||||||||||||||
Total intangible
assets
|
$
|
224,582
|
$
|
(77,481
|
)
|
$
|
147,101
|
$
|
209,712
|
$
|
(102,786
|
)
|
$
|
106,926
|
January 25,
2009
|
||||||||||||||||
Amortized
Cost
|
Unrealized
Gain
|
Unrealized
Loss
|
Estimated
Fair
Value
|
|||||||||||||
(In
thousands)
|
||||||||||||||||
Debt
securities of United States government agencies
|
$
|
313,319
|
$
|
4,815
|
$
|
(13
|
)
|
$
|
318,121
|
|||||||
Corporate
debt securities
|
252,265
|
680
|
(1,771
|
)
|
251,174
|
|||||||||||
Mortgage
backed securities issued by United States government-sponsored
enterprises
|
162,243
|
361
|
(1,405
|
)
|
161,199
|
|||||||||||
Money
market funds
|
139,046
|
-
|
-
|
139,046
|
||||||||||||
Commercial
paper
|
56,995
|
2
|
-
|
56,997
|
||||||||||||
Debt
securities issued by United States Treasury
|
53,407
|
1,868
|
-
|
55,275
|
||||||||||||
Asset-backed
securities
|
39,014
|
71
|
(227
|
)
|
38,858
|
|||||||||||
Total
|
$
|
1,016,289
|
$
|
7,797
|
$
|
(3,416
|
)
|
$
|
1,020,670
|
|||||||
Classified
as:
|
||||||||||||||||
Cash
equivalents
|
$
|
182,968
|
||||||||||||||
Marketable
securities
|
837,702
|
|||||||||||||||
Total
|
$
|
1,020,670
|
January 27,
2008
|
||||||||||||||||
Amortized
Cost
|
Unrealized
Gain
|
Unrealized
Loss
|
|
Estimated
Fair Value
|
||||||||||||
(In
thousands)
|
||||||||||||||||
Commercial
paper
|
$ | 513,887 | $ | 31 | $ | (2 | ) | $ | 513,916 | |||||||
Debt
securities of United States government agencies
|
363,434 | 4,365 | (69 | ) | 367,730 | |||||||||||
Corporate
debt securities
|
361,452 | 2,844 | (281 | ) | 364,015 | |||||||||||
Money
market funds
|
218,055 | - | - | 218,055 | ||||||||||||
Asset-backed
securities
|
110,287 | 1,232 | (11 | ) | 111,508 | |||||||||||
Mortgage
backed securities issued by United States government-sponsored
enterprises
|
69,620 | 769 | (5 | ) | 70,384 | |||||||||||
Debt
securities issued by United States Treasury
|
29,327 | 256 | - | 29,583 | ||||||||||||
Equity
securities
|
2,491 | 1,613 | - | 4,104 | ||||||||||||
Total
|
$ | 1,668,553 | $ | 11,110 | $ | (368 | ) | $ | 1,679,295 | |||||||
Classified
as:
|
||||||||||||||||
Cash
equivalents
|
$ | 596,786 | ||||||||||||||
Marketable
securities
|
1,082,509 | |||||||||||||||
Total
|
$ | 1,679,295 |
Less
than 12 months
|
12
months or greater
|
Total
|
||||||||||||||||||||||
Fair
Value
|
Gross
Unrealized
Losses
|
Fair
Value
|
Gross
Unrealized
Losses
|
Fair
Value
|
Gross
Unrealized
Losses
|
|||||||||||||||||||
(In
thousands)
|
||||||||||||||||||||||||
Corporate
debt securities
|
90,253
|
(885
|
)
|
55,888
|
(886
|
)
|
146,141
|
(1,771
|
)
|
|||||||||||||||
Mortgage
backed securities issued by United States government-sponsored
enterprises
|
4,851
|
(79
|
)
|
95,552
|
(1,326
|
)
|
100,403
|
(1,405
|
)
|
|||||||||||||||
Debt
securities of United States government agencies
|
24,971
|
(3
|
)
|
20,003
|
(10
|
)
|
44,974
|
(13
|
)
|
|||||||||||||||
Asset-backed
securities
|
$
|
18,484
|
$
|
(151
|
)
|
$
|
3,669
|
$
|
(76
|
)
|
$
|
22,153
|
$
|
(227
|
)
|
|||||||||
Total
|
$
|
138,559
|
$
|
(1,118
|
)
|
$
|
175,112
|
$
|
(2,298
|
)
|
$
|
313,671
|
$
|
(3,416
|
)
|
January 25,
2009
|
January 27,
2008
|
|||||||||||||||
Amortized
Cost
|
Estimated
Fair
Value
|
Amortized
Cost
|
Estimated
Fair
Value
|
|||||||||||||
(In
thousands)
|
||||||||||||||||
Less
than one year
|
$
|
484,869
|
$
|
484,616
|
$
|
1,141,725
|
$
|
1,144,021
|
||||||||
Due
in 1 - 5 years
|
369,177
|
374,855
|
454,717
|
460,786
|
||||||||||||
Due
in 6 - 7 years
|
-
|
-
|
-
|
-
|
||||||||||||
Mortgage-backed
securities issued by government-sponsored enterprises not due at a single
maturity date
|
162,243
|
161,199
|
69,620
|
70,384
|
||||||||||||
Total
|
$
|
1,016,289
|
$
|
1,020,670
|
$
|
1,666,062
|
$
|
1,675,191
|
January 25,
2009
|
January 27,
2008
|
|||||||
Inventories:
|
(In
thousands)
|
|||||||
Raw
materials
|
$
|
27,804
|
$
|
31,299
|
||||
Work
in-process
|
132,960
|
107,835
|
||||||
Finished
goods
|
377,070
|
219,387
|
||||||
Total
inventories
|
$
|
537,834
|
$
|
358,521
|
January 25,
2009
|
January 27,
2008
|
Estimated
Useful Life
|
|||||||||
(In
thousands)
|
(Years)
|
||||||||||
Property
and Equipment:
|
|||||||||||
Land
|
$
|
217,866
|
$
|
38,442
|
(A)
|
||||||
Building
|
29,216
|
4,104
|
3-25
|
||||||||
Test
equipment
|
234,368
|
186,774
|
3
|
||||||||
Software
and licenses
|
201,560
|
246,725
|
3 -
5
|
||||||||
Leasehold
improvements
|
136,008
|
103,353
|
(B)
|
||||||||
Computer
equipment
|
125,533
|
137,642
|
3
|
||||||||
Office
furniture and equipment
|
32,224
|
28,220
|
5
|
||||||||
Capital
leases
|
26,618
|
-
|
(C)
|
||||||||
Construction
in process
|
5,360
|
8,258
|
(D)
|
||||||||
1,008,753
|
753,518
|
||||||||||
Accumulated
depreciation and amortization
|
(382,955
|
)
|
(393,710
|
)
|
|||||||
Total property and
equipment, net
|
$
|
625,798
|
$
|
359,808
|
January 25,
2009
|
January 27,
2008
|
|||||||
Prepaid
Expenses and Other
|
(In
thousands)
|
|||||||
Prepaid
maintenance
|
$
|
11,268
|
$
|
10,996
|
||||
Prepaid
insurance
|
5,400
|
6,140
|
||||||
Prepaid
taxes
|
3,571
|
3
|
||||||
Prepaid
rent
|
3,254
|
2,912
|
||||||
Other
|
16,301
|
23,017
|
||||||
Total prepaid expenses and other
|
$
|
39,794
|
$
|
43,068
|
January 25,
2009
|
January 27,
2008
|
|||||||
Deposits
and Other Assets
|
(In
thousands)
|
|||||||
Prepaid
maintenance, long term
|
$
|
20,005
|
$
|
20,958
|
||||
Lease
deposits
|
10,583
|
8,372
|
||||||
Investment
in non-affiliates
|
6,412
|
7,481
|
||||||
Other
|
3,026
|
1,240
|
||||||
Total deposits and other assets
|
$
|
40,026
|
$
|
38,051
|
January
25,
2009
|
January 27,
2008
|
|||||||
Accrued
Liabilities:
|
(In
thousands)
|
|||||||
Accrued
customer programs (1)
|
$
|
239,797
|
$
|
271,869
|
||||
Warranty
accrual (2)
|
150,629
|
5,707
|
||||||
Accrued
payroll and related expenses
|
82,449
|
122,284
|
||||||
Accrued
legal settlement (3)
|
30,600
|
30,600
|
||||||
Deferred
rent
|
11,643
|
11,982
|
||||||
Deferred
revenue
|
3,774
|
5,856
|
||||||
Other
|
40,835
|
26,764
|
||||||
Total accrued liabilities and other
|
$
|
559,727
|
$
|
475,062
|
January
25,
2009
|
January 27,
2008
|
|||||||
Other
Long Term Liabilities:
|
(In
thousands)
|
|||||||
Deferred
income tax liability
|
$
|
75,252
|
$
|
86,900
|
||||
Income
tax payable
|
49,248
|
44,235
|
||||||
Asset
retirement obligations
|
9,515
|
6,469
|
||||||
Other
|
17,835
|
24,994
|
||||||
Total other long-term liabilities
|
$
|
151,850
|
$
|
162,598
|
January
25, 2009
|
January
27, 2008
|
January 28,
2007
|
||||||||||
(In
thousands)
|
||||||||||||
Balance at
beginning of period
|
$
|
24,432
|
$
|
17,959
|
$
|
10,239
|
||||||
Additions (1),(4)
|
217,114
|
27,763
|
40,515
|
|||||||||
Deductions (2),(5)
|
(73,579
|
)
|
(21,290
|
)
|
(32,795
|
)
|
||||||
Balance at
end of period (3)
|
$
|
167,967
|
$
|
24,432
|
$
|
17,959
|
Future
Minimum Lease Obligations
|
||||
(In thousands)
|
||||
Year
ending January:
|
||||
2010
|
$
|
44,448
|
||
2011
|
42,763
|
|||
2012
|
41,196
|
|||
2013
|
13,244
|
|||
2014
|
7,906
|
|||
2015
and thereafter
|
4,068
|
|||
Total
|
$
|
153,625
|
Future
Capital Lease Obligations
|
||||
(In thousands)
|
||||
Year
ending January:
|
||||
2010
|
$
|
4,185
|
||
2011
|
4,311
|
|||
2012
|
4,440
|
|||
2013
|
4,573
|
|||
2014
|
4,710
|
|||
2015
and thereafter
|
25,757
|
|||
Total
|
$
|
47,976
|
||
Present Value of minimum
lease payments
|
$
|
26,562
|
||
Current
portion
|
$
|
928
|
||
Long term
portion
|
$
|
25,634
|
Year Ended
|
||||||||||||
January 25,
2009
|
January 27,
2008
|
January 28,
2007
|
||||||||||
(In
thousands)
|
||||||||||||
Current
income taxes:
|
||||||||||||
Federal
|
$
|
(31
|
) |
$
|
(988
|
)
|
$
|
(17
|
)
|
|||
State
|
133
|
516
|
(2,401
|
)
|
||||||||
Foreign
|
8,923
|
14,665
|
6,758
|
|||||||||
Total
current
|
9,025
|
14,193
|
4,340
|
|||||||||
Deferred
taxes:
|
||||||||||||
Federal
|
(21,348
|
) |
90,178
|
41,721
|
||||||||
State
|
—
|
—
|
—
|
|||||||||
Foreign
|
(1,929
|
) |
(1,014
|
)
|
—
|
|||||||
Total
deferred
|
(23,277
|
) |
89,164
|
41,721
|
||||||||
Charge
in lieu of taxes attributable to employer stock option
plans
|
1,339
|
339
|
289
|
|||||||||
Income
tax expense (benefit)
|
$
|
(12,913
|
) |
$
|
103,696
|
$
|
46,350
|
Year Ended
|
||||||||||||
January 25,
2009
|
January 27,
2008
|
January 28,
2007
|
||||||||||
(In
thousands)
|
||||||||||||
Domestic
|
$
|
(174,412
|
) |
$
|
6,416
|
$
|
(19,617
|
)
|
||||
Foreign
|
131,458
|
894,925
|
514,097
|
|||||||||
$
|
(42,954
|
) |
$
|
901,341
|
$
|
494,480
|
Year Ended
|
||||||||||||
January 25,
2009
|
January 27,
2008
|
January 28,
2007
|
||||||||||
(In
thousands)
|
||||||||||||
Tax
expense computed at federal statutory rate
|
$
|
(15,034
|
) |
$
|
315,470
|
$
|
173,068
|
|||||
State
income taxes, net of federal tax effect
|
957
|
555
|
(1,372
|
)
|
||||||||
Foreign
tax rate differential
|
18,875
|
(178,358
|
)
|
(97,390
|
)
|
|||||||
Research
tax credit
|
(22,766
|
) |
(38,857
|
)
|
(35,359
|
)
|
||||||
In-process
research and development
|
-
|
-
|
4,690
|
|||||||||
Stock-based
compensation
|
5,342
|
4,828
|
3,564
|
|||||||||
Other
|
(287)
|
) |
58
|
(851
|
)
|
|||||||
Income tax expense
(benefit)
|
$
|
(12,913
|
) |
$
|
103,696
|
$
|
46,350
|
January 25,
2009
|
January 27,
2008
|
|||||||
(In
thousands)
|
||||||||
Deferred
tax assets:
|
||||||||
Net
operating loss carryforwards
|
$
|
27,593
|
$
|
22,814
|
||||
Accruals
and reserves, not currently deductible for tax
purposes
|
26,015
|
20,769
|
||||||
Property,
equipment and intangible assets
|
23,935
|
7,513
|
||||||
Research
and other tax credit carryforwards
|
123,620
|
147,417
|
||||||
Stock-based
compensation
|
55,680
|
36,413
|
||||||
Gross
deferred tax assets
|
256,843
|
234,926
|
||||||
Less:
valuation allowance
|
(92,541
|
) |
(82,522
|
)
|
||||
Total deferred tax
assets
|
164,302
|
152,404
|
||||||
Deferred
tax liabilities:
|
||||||||
Unremitted
earnings of foreign subsidiaries
|
(223,223
|
) |
(228,227
|
)
|
||||
Net deferred tax
asset (liability)
|
$
|
(58,921
|
) |
$
|
(75,823
|
)
|
January
25, 2009
|
January
27, 2008
|
|||||||
(In thousands) | ||||||||
Balance
at beginning of period
|
$ | 77,791 | $ | 57,544 | ||||
Increases
in tax positions for prior years
|
6,297 | 3,900 | ||||||
Decreases
in tax positions for prior years
|
(272 | ) | (433 | ) | ||||
Increases
in tax positions for current year
|
13,622 | 21,716 | ||||||
Settlements
|
(181 | ) | (2,445 | ) | ||||
Lapse
in statute of limitations
|
(1,938 | ) | (2,491 | ) | ||||
Balance
at end of period
|
$ | 95,319 | $ | 77,791 |
GPU
|
PSB
|
MCP
|
CPB
|
All
Other
|
Consolidated
|
|||||||||||||||||||
(In
thousands)
|
||||||||||||||||||||||||
Year
Ended January 25, 2009:
|
||||||||||||||||||||||||
Revenue
|
$
|
1,912,262
|
$
|
693,376
|
$
|
655,565
|
$
|
136,334
|
$
|
27,322
|
$
|
3,424,859
|
||||||||||||
Depreciation
and amortization expense
|
$
|
55,405
|
$
|
21,587
|
$
|
32,442
|
$
|
19,372
|
$
|
56,217
|
$
|
185,023
|
||||||||||||
Operating
income (loss)
|
$
|
122,111
|
$
|
322,514
|
$
|
(132,921
|
)
|
$
|
(24,293
|
)
|
$
|
(358,111
|
)
|
$
|
(70,700
|
)
|
||||||||
Year
Ended January 27, 2008:
|
||||||||||||||||||||||||
Revenue
|
$
|
2,518,281
|
$
|
588,358
|
$
|
710,353
|
$
|
251,137
|
$
|
29,731
|
$
|
4,097,860
|
||||||||||||
Depreciation
and amortization expense
|
$
|
38,272
|
$
|
9,596
|
$
|
28,409
|
$
|
21,482
|
$
|
37,715
|
$
|
135,474
|
||||||||||||
Operating
income (loss)
|
$
|
717,985
|
$
|
305,395
|
$
|
57,214
|
$
|
28,104
|
$
|
(272,352
|
)
|
$
|
836,346
|
|||||||||||
Year
Ended January 28, 2007:
|
||||||||||||||||||||||||
Revenue
|
$
|
1,712,370
|
$
|
454,735
|
$
|
661,483
|
$
|
233,223
|
$
|
6,960
|
$
|
3,068,771
|
||||||||||||
Depreciation
and amortization expense
|
$
|
27,851
|
$
|
7,381
|
$
|
20,751
|
$
|
18,073
|
$
|
33,776
|
$
|
107,832
|
||||||||||||
Operating
income (loss)
|
$
|
383,109
|
$
|
213,966
|
$
|
77,952
|
$
|
42,375
|
$
|
(263,950
|
)
|
$
|
453,452
|
Year
Ended
|
||||||||||||
January 25,
2009
|
January 27,
2008
|
January 28,
2007
|
||||||||||
Revenue:
|
(In
thousands)
|
|||||||||||
China
|
$
|
1,087,739
|
$
|
1,256,209
|
$
|
659,711
|
||||||
Taiwan
|
974,077
|
1,293,645
|
1,118,631
|
|||||||||
Other
Asia Pacific
|
601,480
|
662,448
|
544,700
|
|||||||||
Europe
|
321,117
|
438,321
|
302,080
|
|||||||||
United
States
|
309,540
|
341,670
|
332,609
|
|||||||||
Other
Americas
|
130,906
|
105,567
|
111,040
|
|||||||||
Total
revenue
|
$
|
3,424,859
|
$
|
4,097,860
|
$
|
3,068,771
|
January 25,
2009
|
January 27,
2008
|
|||||||
Long-lived
assets:
|
(In
thousands)
|
|||||||
United
States
|
$
|
500,162
|
$
|
298,765
|
||||
Taiwan
|
81,761
|
31,788
|
||||||
China
|
42,969
|
24,655
|
||||||
India
|
29,639
|
28,677
|
||||||
Europe
|
6,865
|
7,052
|
||||||
Other
Asia Pacific
|
2,500
|
1,510
|
||||||
Other
Americas
|
1,928
|
5,412
|
||||||
Total
long-lived assets
|
$
|
665,824
|
$
|
397,859
|
Year
Ended
|
||||||||
January 25,
2009
|
January 27,
2008
|
January 28,
2007
|
||||||
Revenue:
|
||||||||
Customer
A
|
11
|
%
|
7
|
%
|
5
|
%
|
||
Customer
B
|
8
|
%
|
10
|
%
|
12
|
%
|
January 25,
2009
|
January 27,
2008
|
|||||
Accounts
Receivable:
|
||||||
Customer
A
|
18
|
%
|
4
|
%
|
||
Customer
B
|
10
|
%
|
9
|
%
|
||
Customer
C
|
10
|
%
|
8
|
%
|
||
Customer
D
|
2
|
%
|
12
|
%
|
Fair value measurement at
reporting date using
|
|||||||||||||||
|
Quoted Prices in
Active Markets for Identical Assets
|
Significant
Other Observable Inputs
|
High
Level of Judgment
|
||||||||||||
January
25, 2009
|
(Level
1)
|
(Level
2)
|
(Level
3)
|
||||||||||||
(In
thousands)
|
|||||||||||||||
Other
debt securities issued by U.S. Government agencies
(4)
|
$
|
318,121
|
$
|
-
|
$
|
318,121
|
$
|
-
|
|||||||
Corporate
debt securities (3)
|
251,174
|
-
|
251,174
|
-
|
|||||||||||
Mortgage-backed
securities issued by Government-sponsored entities
(1)
|
161,199
|
-
|
161,199
|
-
|
|||||||||||
Money
market funds (5)
|
139,046
|
14,646
|
-
|
124,400
|
|||||||||||
Commercial
paper (2)
|
56,997
|
-
|
56,997
|
-
|
|||||||||||
Debt
securities issued by United States Treasury (1)
|
55,275
|
-
|
55,275
|
-
|
|||||||||||
Asset-backed
securities (1)
|
38,858
|
-
|
38,858
|
-
|
|||||||||||
Total
assets
|
$
|
1,020,670
|
$
|
14,646
|
$
|
881,624
|
$
|
124,400
|
Year
ended
January
25, 2009
|
||||
Balance,
beginning of period
|
$
|
-
|
||
Transfer
into Level 3
|
130,000
|
|||
Other
than temporary impairment
|
(5,600
|
)
|
||
Balance,
end of period
|
$
|
124,400
|
||
Fiscal
Year 2009
Quarters
Ended
|
||||||||||||||||
January
25, 2009 (A,B)
|
October
26, 2008 (C, D)
|
July
27, 2008 (E)
|
April
27, 2008
|
|||||||||||||
(In
thousands, except per share data)
|
||||||||||||||||
Statement
of Operations Data:
|
||||||||||||||||
Revenue
|
$
|
481,140
|
$
|
897,655
|
$
|
892,676
|
$
|
1,153,388
|
||||||||
Cost
of revenue
|
$
|
339,474
|
$
|
529,812
|
$
|
742,759
|
$
|
638,545
|
||||||||
Gross
profit
|
$
|
141,666
|
$
|
367,843
|
$
|
149,917
|
$
|
514,843
|
||||||||
Net
income (loss)
|
$
|
(147,665
|
)
|
$
|
61,748
|
$
|
(120,929
|
)
|
$
|
176,805
|
||||||
Basic
net income (loss) per share
|
$
|
(0.27
|
)
|
$
|
0.11
|
$
|
(0.22
|
)
|
$
|
0.32
|
||||||
Diluted
net income (loss) per share
|
$
|
(0.27
|
)
|
$
|
0.11
|
$
|
(0.22
|
)
|
$
|
0.30
|
Fiscal
Year 2008
Quarters
Ended
|
||||||||||||||||
January
27, 2008 (F)
|
October
28, 2007
|
July
29, 2007
|
April
29, 2007
|
|||||||||||||
(In
thousands, except per share data)
|
||||||||||||||||
Statement
of Operations Data:
|
||||||||||||||||
Revenue
|
$
|
1,202,730
|
$
|
1,115,597
|
$
|
935,253
|
$
|
844,280
|
||||||||
Cost
of revenue
|
$
|
653,133
|
$
|
600,044
|
$
|
511,261
|
$
|
464,142
|
||||||||
Gross
profit
|
$
|
549,597
|
$
|
515,553
|
$
|
423,992
|
$
|
380,138
|
||||||||
Net
income
|
$
|
256,993
|
$
|
235,661
|
$
|
172,732
|
$
|
132,259
|
||||||||
Basic
net income per share
|
$
|
0.46
|
$
|
0.42
|
$
|
0.32
|
$
|
0.24
|
||||||||
Diluted
net income per share
|
$
|
0.42
|
$
|
0.38
|
$
|
0.29
|
$
|
0.22
|
Description
|
Balance at
Beginning
of
Period
|
Additions
|
Deductions
|
Balance
at
End
of Period
|
||||||||||||
(In
thousands)
|
||||||||||||||||
Year
ended January 25, 2009
|
||||||||||||||||
Deferred
tax valuation allowance
|
$
|
82,522
|
$
|
10,019
|
(4)
|
$
|
-
|
$
|
92,541
|
|||||||
Allowance
for doubtful accounts
|
$
|
968
|
$
|
608
|
(1)
|
$
|
514
|
(2)
|
$
|
1,062
|
||||||
Year
ended January 27, 2008
|
||||||||||||||||
Deferred
tax valuation allowance
|
$
|
68,563
|
$
|
13,959
|
(4)
|
$
|
-
|
$
|
82,522
|
|||||||
Allowance
for doubtful accounts
|
$
|
1,271
|
$
|
505
|
(1)
|
$
|
(808)
|
(2)
|
$
|
968
|
||||||
Year
ended January 28, 2007
|
||||||||||||||||
Deferred
tax valuation allowance
|
$
|
233,016
|
$
|
13,867
|
(4)
|
$
|
(178,320)
|
(5)
|
$
|
68,563
|
||||||
Allowance
for doubtful accounts
|
$
|
598
|
$
|
676
|
(1),(3)
|
$
|
(3)
|
(2)
|
$
|
1,271
|
||||||
Incorporated
by Reference
|
||||||||||||||||
Exhibit
No.
|
Exhibit
Description
|
Schedule/Form
|
File
Number
|
Exhibit
|
Filing
Date
|
|||||||||||
2.1 |
Agreement
and Plan of Merger by and among NVIDIA Corporation, Partridge Acquisition,
Inc. and PortalPlayer, Inc. dated 11/6/06
|
8-K | 0-23985 | 2.1 |
11/9/2006
|
|||||||||||
3.1 |
Amended
and Restated Certificate of Incorporation
|
S-8 | 333-74905 | 4.1 |
3/23/1999
|
|||||||||||
3.2 |
Certificate
of Amendment of Amended and Restated Certificate of
Incorporation
|
10-Q | 0-23985 | 3.1 |
8/21/2008
|
|||||||||||
3.3 |
Bylaws
of NVIDIA Corporation, Amended and Restated as of February 12,
2009
|
8-K | 0-23985 | 3.1 |
2/19/2009
|
|||||||||||
4.1 |
Reference
is made to Exhibits 3.1, 3.2 and 3.3
|
|||||||||||||||
4.2 |
Specimen
Stock Certificate
|
S-1/A | 333-47495 | 4.2 |
4/24/1998
|
|||||||||||
10.1 |
Form
of Indemnity Agreement between NVIDIA Corporation and each of its
directors and officers
|
8-K | 0-23985 | 10.1 |
3/7/2006
|
|||||||||||
10.2 | + |
1998
Equity Incentive Plan, as amended
|
8-K | 0-23985 | 10.2 |
3/13/2006
|
||||||||||
10.3 | + |
1998
Equity Incentive Plan ISO, as amended
|
10-Q | 0-23985 | 10.5 |
11/22/2004
|
||||||||||
10.4 | + |
1998
Equity Incentive Plan NSO, as amended
|
10-Q | 0-23985 | 10.6 |
11/22/2004
|
||||||||||
10.5 | + |
Certificate
of Stock Option Grant
|
10-Q | 0-23985 | 10.7 |
11/22/2004
|
||||||||||
10.6 | + |
1998
Non-Employee Directors’ Stock Option Plan, as amended
|
8-K | 0-23985 | 10.1 |
4/3/2006
|
||||||||||
10.7 | + |
1998
Non-Employee Directors’ Stock Option Plan (Annual Grant - Board Service),
as amended
|
10-Q | 0-23985 | 10.1 |
11/22/2004
|
||||||||||
10.8 | + |
1998
Non-Employee Directors’ Stock Option Plan (Committee Grant - Committee
Service), as amended
|
10-Q | 0-23985 | 10.2 |
11/22/2004
|
||||||||||
10.9 | + |
1998
Non-Employee Directors’ Stock Option Plan (Initial Grant)
|
10-Q | 0-23985 | 10.3 |
11/22/2004
|
||||||||||
10.10 | + |
1998
Employee Stock Purchase Plan, as amended and restated
|
10-Q | 0-23985 | 10.2 |
5/22/2008
|
||||||||||
10.11 | + |
2000
Nonstatutory Equity Incentive Plan, as amended
|
SC
TO-1
|
005-56649 | 99 | (d)(1)(A) |
11/29/2006
|
|||||||||
10.12 | + |
2000
NonStatutory Equity Incentive Plan NSO
|
SC
TO-1
|
005-56649 | 99.1 | (d)(1)(B) |
11/29/2006
|
|||||||||
10.13 | + |
PortalPlayer,
Inc. 1999 Stock Option Plan and Form of Agreements
thereunder
|
S-8 | 333-140021 | 99.1 |
1/16/2007
|
||||||||||
10.14 | + |
PortalPlayer,
Inc. Amended and Restated 2004 Stock Incentive Plan
|
S-8 | 333-140021 | 99.2 |
1/16/2007
|
||||||||||
10.15 | + |
2007
Equity Incentive Plan
|
8-K | 0-23985 | 10.1 |
6/27/2007
|
||||||||||
10.16 | + |
2007
Equity Incentive Plan - Non Statutory Stock Option (Annual Grant - Board
Service)
|
10-Q | 0-23985 | 10.2 |
8/22/2007
|
||||||||||
10.17 | + |
2007
Equity Incentive Plan - Non Statutory Stock Option (Annual Grant -
Committee Service)
|
10-Q | 0-23985 | 10.3 |
8/22/2007
|
||||||||||
10.18 | + |
2007
Equity Incentive Plan - Non Statutory Stock Option (Initial
Grant)
|
10-Q | 0-23985 | 10.4 |
8/22/2007
|
Incorporated
by Reference
|
||||||||||||||||
Exhibit
No.
|
Exhibit
Description
|
Schedule/Form
|
File
Number
|
Exhibit
|
Filing
Date
|
|||||||||||
10.19 | + |
2007
Equity Incentive Plan - Non Statutory Stock Option
|
10-Q | 0-23985 | 10.5 |
8/22/2007
|
||||||||||
10.20 | + |
2007
Equity Incentive Plan - Incentive Stock Option
|
10-Q | 0-23985 | 10.6 |
8/22/2007
|
||||||||||
10.21 | + |
2007
Equity Incentive Plan – Restricted Stock Unit Grant Notice and Restricted
Stock Unit Purchase Agreement
|
8-K | 0-23985 | 10.1 |
2/11/2009
|
||||||||||
10.22 | + |
Fiscal
Year 2008 Variable Compensation Plan
|
8-K | 0-23985 | 10.1 |
4/5/2007
|
||||||||||
10.23 | + |
Fiscal
Year 2009 Variable Compensation Plan
|
8-K | 0-23985 | 10.1 |
4/21/2008
|
||||||||||
10.24 |
Lease
dated April 4, 2000 between NVIDIA Corporation and Sobrato Interests III
for Building A
|
S-3/A | 333-33560 | 10.1 |
4/20/2000
|
|||||||||||
10.25 |
Lease
dated April 4, 2000 between NVIDIA Corporation and Sobrato Interests III
for Building B
|
S-3/A | 333-33560 | 10.2 |
4/20/2000
|
|||||||||||
10.26 |
Lease
dated April 4, 2000 between NVIDIA Corporation and Sobrato Interests III
for Building C
|
S-3/A | 333-33560 | 10.3 |
4/20/2000
|
|||||||||||
10.27 |
Lease
dated April 4, 2000 between NVIDIA Corporation and Sobrato Interests III
for Building D
|
S-3/A | 333-33560 | 10.4 |
4/20/2000
|
|||||||||||
10.28 |
Amended
and Restated Agreement of Purchase and Sale by and between Harvest-Granite
San Tomas LLC and Harvest 2400, LLC dated January 31, 2008
|
10-Q | 0-23985 | 10.3 |
5/22/2008
|
|||||||||||
10.29 | + |
Offer
Letter, dated January 28, 2009, with David White
|
8-K | 0-23985 | 10.1 |
2/27/2009
|
||||||||||
21.1 | * |
List
of Registrant’s Subsidiaries
|
||||||||||||||
23.1 | * |
Consent
of PricewaterhouseCoopers LLP
|
||||||||||||||
24.1 | * | Power of Attorney (included in signature page) |
|
|||||||||||||
31.1 | * | Certification of Chief Executive Officer as required by Rule 13a-14(a) of the Securities Exchange Act of 1934 | ||||||||||||||
31.2 | * | Certification of Chief Financial Officer as required by Rule 13a-14(a) of the Securities Exchange Act of 1934 | ||||||||||||||
32.1# | * | Certification of Chief Executive Officer as required by Rule 13a-14(b) of the Securities Exchange Act of 1934 | ||||||||||||||
32.2# | * | Certification of Chief Financial Officer as required by Rule 13a-14(b) of the Securities Exchange Act of 1934 |
NVIDIA
Corporation
|
|
By:
|
/s/
Jen-Hsun Huang
|
Jen-Hsun
Huang
|
|
President
and Chief Executive Officer
|
Signature
|
Title
|
Date
|
/s/
JEN-HSUN HUANG
|
President,
Chief Executive Officer and Director
(Principal
Executive Officer)
|
March
13, 2009
|
Jen-Hsun
Huang
|
||
/s/
DAVID L. WHITE
|
Chief
Financial
Officer
(Principal
Financial and Accounting Officer)
|
March
13, 2009
|
David
L. White |
||
/s/
TENCH COXE
|
Director
|
March
13, 2009
|
Tench
Coxe
|
||
/s/
MARK STEVENS
|
Director
|
March
13, 2009
|
Mark
Stevens |
||
/s/
JAMES C. GAITHER
|
Director
|
March
13, 2009
|
James
C. Gaither |
||
/s/
HARVEY C. JONES
|
Director
|
March
13, 2009
|
Harvey
C. Jones
|
||
/s/
MARK L. PERRY
|
Director
|
March
13, 2009
|
Mark
L. Perry |
||
/s/
WILLIAM J. MILLER
|
Director
|
March
13, 2009
|
William
J. Miller |
||
/s/
A. BROOKE SEAWELL
|
Director
|
March
13,
2009
|
Incorporated
by Reference
|
||||||||||||||||
Exhibit
No.
|
Exhibit
Description
|
Schedule/Form
|
File
Number
|
Exhibit
|
Filing
Date
|
|||||||||||
2.1 |
Agreement
and Plan of Merger by and among NVIDIA Corporation, Partridge Acquisition,
Inc. and PortalPlayer, Inc. dated 11/6/06
|
8-K | 0-23985 | 2.1 |
11/9/2006
|
|||||||||||
3.1 |
Amended
and Restated Certificate of Incorporation
|
S-8 | 333-74905 | 4.1 |
3/23/1999
|
|||||||||||
3.2 |
Certificate
of Amendment of Amended and Restated Certificate of
Incorporation
|
10-Q | 0-23985 | 3.1 |
8/21/2008
|
|||||||||||
3.3 |
Bylaws
of NVIDIA Corporation, Amended and Restated as of February 12,
2009
|
8-K | 0-23985 | 3.1 |
2/19/2009
|
|||||||||||
4.1 |
Reference
is made to Exhibits 3.1, 3.2 and 3.3
|
|||||||||||||||
4.2 |
Specimen
Stock Certificate
|
S-1/A | 333-47495 | 4.2 |
4/24/1998
|
|||||||||||
10.1 |
Form
of Indemnity Agreement between NVIDIA Corporation and each of its
directors and officers
|
8-K | 0-23985 | 10.1 |
3/7/2006
|
|||||||||||
10.2 | + |
1998
Equity Incentive Plan, as amended
|
8-K | 0-23985 | 10.2 |
3/13/2006
|
||||||||||
10.3 | + |
1998
Equity Incentive Plan ISO, as amended
|
10-Q | 0-23985 | 10.5 |
11/22/2004
|
||||||||||
10.4 | + |
1998
Equity Incentive Plan NSO, as amended
|
10-Q | 0-23985 | 10.6 |
11/22/2004
|
||||||||||
10.5 | + |
Certificate
of Stock Option Grant
|
10-Q | 0-23985 | 10.7 |
11/22/2004
|
||||||||||
10.6 | + |
1998
Non-Employee Directors’ Stock Option Plan, as amended
|
8-K | 0-23985 | 10.1 |
4/3/2006
|
||||||||||
10.7 | + |
1998
Non-Employee Directors’ Stock Option Plan (Annual Grant - Board Service),
as amended
|
10-Q | 0-23985 | 10.1 |
11/22/2004
|
||||||||||
10.8 | + |
1998
Non-Employee Directors’ Stock Option Plan (Committee Grant - Committee
Service), as amended
|
10-Q | 0-23985 | 10.2 |
11/22/2004
|
||||||||||
10.9 | + |
1998
Non-Employee Directors’ Stock Option Plan (Initial Grant)
|
10-Q | 0-23985 | 10.3 |
11/22/2004
|
||||||||||
10.10 | + |
1998
Employee Stock Purchase Plan, as amended and restated
|
10-Q | 0-23985 | 10.2 |
5/22/2008
|
||||||||||
10.11 | + |
2000
Nonstatutory Equity Incentive Plan, as amended
|
SC
TO-1
|
005-56649 | 99 | (d)(1)(A) |
11/29/2006
|
|||||||||
10.12 | + |
2000
NonStatutory Equity Incentive Plan NSO
|
SC
TO-1
|
005-56649 | 99.1 | (d)(1)(B) |
11/29/2006
|
|||||||||
10.13 | + |
PortalPlayer,
Inc. 1999 Stock Option Plan and Form of Agreements
thereunder
|
S-8 | 333-140021 | 99.1 |
1/16/2007
|
||||||||||
10.14 | + |
PortalPlayer,
Inc. Amended and Restated 2004 Stock Incentive Plan
|
S-8 | 333-140021 | 99.2 |
1/16/2007
|
||||||||||
10.15 | + |
2007
Equity Incentive Plan
|
8-K | 0-23985 | 10.1 |
6/27/2007
|
||||||||||
10.16 | + |
2007
Equity Incentive Plan - Non Statutory Stock Option (Annual Grant - Board
Service)
|
10-Q | 0-23985 | 10.2 |
8/22/2007
|
||||||||||
10.17 | + |
2007
Equity Incentive Plan - Non Statutory Stock Option (Annual Grant -
Committee Service)
|
10-Q | 0-23985 | 10.3 |
8/22/2007
|
||||||||||
10.18 | + |
2007
Equity Incentive Plan - Non Statutory Stock Option (Initial
Grant)
|
10-Q | 0-23985 | 10.4 |
8/22/2007
|
Incorporated
by Reference
|
||||||||||||||||
Exhibit
No.
|
Exhibit
Description
|
Schedule/Form
|
File
Number
|
Exhibit
|
Filing
Date
|
|||||||||||
10.19 | + |
2007
Equity Incentive Plan - Non Statutory Stock Option
|
10-Q | 0-23985 | 10.5 |
8/22/2007
|
||||||||||
10.20 | + |
2007
Equity Incentive Plan - Incentive Stock Option
|
10-Q | 0-23985 | 10.6 |
8/22/2007
|
||||||||||
10.21 | + |
2007
Equity Incentive Plan – Restricted Stock Unit Grant Notice and Restricted
Stock Unit Purchase Agreement
|
8-K | 0-23985 | 10.1 |
2/11/2009
|
||||||||||
10.22 | + |
Fiscal
Year 2008 Variable Compensation Plan
|
8-K | 0-23985 | 10.1 |
4/5/2007
|
||||||||||
10.23 | + |
Fiscal
Year 2009 Variable Compensation Plan
|
8-K | 0-23985 | 10.1 |
4/21/2008
|
||||||||||
10.24 |
Lease
dated April 4, 2000 between NVIDIA Corporation and Sobrato Interests III
for Building A
|
S-3/A | 333-33560 | 10.1 |
4/20/2000
|
|||||||||||
10.25 |
Lease
dated April 4, 2000 between NVIDIA Corporation and Sobrato Interests III
for Building B
|
S-3/A | 333-33560 | 10.2 |
4/20/2000
|
|||||||||||
10.26 |
Lease
dated April 4, 2000 between NVIDIA Corporation and Sobrato Interests III
for Building C
|
S-3/A | 333-33560 | 10.3 |
4/20/2000
|
|||||||||||
10.27 |
Lease
dated April 4, 2000 between NVIDIA Corporation and Sobrato Interests III
for Building D
|
S-3/A | 333-33560 | 10.4 |
4/20/2000
|
|||||||||||
10.28 |
Amended
and Restated Agreement of Purchase and Sale by and between Harvest-Granite
San Tomas LLC and Harvest 2400, LLC dated January 31, 2008
|
10-Q | 0-23985 | 10.3 |
5/22/2008
|
|||||||||||
10.29 | + |
Offer
Letter, dated January 28, 2009, with David White
|
8-K | 0-23985 | 10.1 |
2/27/2009
|
||||||||||
21.1 | * |
List
of Registrant’s Subsidiaries
|
||||||||||||||
23.1 | * |
Consent
of PricewaterhouseCoopers LLP
|
||||||||||||||
24.1 | * | Power of Attorney (included in signature page) | ||||||||||||||
31.1 | * | Certification of Chief Executive Officer as required by Rule 13a-14(a) of the Securities Exchange Act of 1934 | ||||||||||||||
31.2 | * | Certification of Chief Financial Officer as required by Rule 13a-14(a) of the Securities Exchange Act of 1934 | ||||||||||||||
32.1# | * | Certification of Chief Executive Officer as required by Rule 13a-14(b) of the Securities Exchange Act of 1934 | ||||||||||||||
32.2# | * | Certification of Chief Financial Officer as required by Rule 13a-14(b) of the Securities Exchange Act of 1934 |