KEYSIGHT TECHNOLOGIES, INC. | ||||||||
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS | ||||||||
(In millions) | ||||||||
(Unaudited) | ||||||||
PRELIMINARY | ||||||||
Three Months | ||||||||
Ended | ||||||||
January 31, | ||||||||
2015 | ||||||||
Cash flows from operating activities: | ||||||||
Net income | $ | 70 | ||||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||
Depreciation and amortization | 23 | |||||||
Share-based compensation | 29 | |||||||
Excess tax benefit from share-based plans | (3 | ) | ||||||
Deferred taxes | (1 | ) | ||||||
Excess and obsolete inventory and inventory related charges | 10 | |||||||
Other non-cash expenses, net | (1 | ) | ||||||
Changes in assets and liabilities: | ||||||||
Accounts receivable |
36 | |||||||
Inventory | (5 | ) | ||||||
Accounts payable | (13 | ) | ||||||
Payment to Agilent, net | (14 | ) | ||||||
Employee compensation and benefits | (22 | ) | ||||||
Other assets and liabilities | (17 | ) | ||||||
Net cash provided by operating activities (a) | 92 | |||||||
Cash flows from investing activities: | ||||||||
Investments in property, plant and equipment | (15 | ) | ||||||
Proceeds from sale of investment securities | 1 | |||||||
Net cash used in investing activities | (14 | ) | ||||||
Cash flows from financing activities: | ||||||||
Issuance of common stock under employee stock plans | 4 | |||||||
Excess tax benefit from share-based plans | 3 | |||||||
Net cash provided by financing activities | 7 | |||||||
Effect of exchange rate movements | (8 | ) | ||||||
Net increase in cash and cash equivalents | 77 | |||||||
Cash and cash equivalents at beginning of period | 810 | |||||||
Cash and cash equivalents at end of period | $ | 887 | ||||||
(a) Cash payments included in operating activities: | ||||||||
Restructuring payments | 1 | |||||||
Income tax payments, net | 14 | |||||||
The preliminary cash flow is estimated based on our current information. | ||||||||
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