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NVIDIA CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS − (Continued)
Note 7 − Balance Sheet Components
Certain balance sheet components are as follows:
January 30, January 25,
Inventories: 2005 2004
(In thousands)
Raw materials $ 23,225 $ 22,131
Work in−process 130,211 44,523
Finished goods 162,082 167,584
Total inventories $ 315,518 $ 234,238
January 30, January 25,
2005 2004
Property and Equipment: (In thousands)
Software $ 125,310 $ 116,150
Test equipment 86,883 73,287
Computer equipment 82,428 70,173
Leasehold improvements 79,160 58,649
Construction in process 3,264 1,620
Office furniture and equipment 18,777 17,996
395,822 337,875
Accumulated depreciation and amortization (216,867) (147,846)
Property and equipment, net $ 178,955 $ 190,029
Depreciation expense for fiscal 2005, 2004 and 2003 was $71.3 million, $59.3 million and $42.6 million, respectively. Assets
recorded under capital leases included in property and equipment were $19.3 million and $19.5 million as of January 30, 2005 and
January 25, 2004, respectively. Related accumulated amortization was $17.8 million and $14.0 million as of January 30, 2005 and
January 25, 2004, respectively. Amortization expense for fiscal 2005, 2004 and 2003 related to capital leases was $3.8 million, $5.4
million and $4.4 million, respectively
January 30, January 25,
2005 2004
Accrued Liabilities: (In thousands)
Accrued customer programs $ 83,013 $ 54,875
Deferred revenue 11,500 −−
Customer advances 1,457 11,530
Taxes payable 28,826 29,609
Accrued payroll and related expenses 37,016 30,270
Deferred rent 10,844 8,151
Other 9,421 10,320
Total accrued liabilities $ 182,077 $ 144,755
January 30, January 25,
2005 2004
Long−term Liabilities: (In thousands)
Asset retirement obligation $ 4,483 $ −−
Technology licenses 3,875 4,582
Total long−term liabilities $ 8,358 $ 4,582
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