| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | ||||||||||
| Three months ended July 31 | ||||||||||
| 2017 | 2016 | |||||||||
| Cash flows from operating activities:(a) | ||||||||||
| Net earnings | $ | 696 | $ | 783 | ||||||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||||||||||
| Depreciation and amortization | 90 | 85 | ||||||||
| Stock-based compensation expense | 46 | 39 | ||||||||
| Restructuring and other charges | 46 | 31 | ||||||||
| Deferred taxes on earnings | 207 | 378 | ||||||||
| Other, net | 48 | (244 | ) | |||||||
| Changes in operating assets and liabilities: | ||||||||||
| Accounts receivable | (504 | ) | (166 | ) | ||||||
| Inventory | (459 | ) | (471 | ) | ||||||
| Accounts payable | 1,712 | 1,301 | ||||||||
| Taxes on earnings | (68 | ) | (372 | ) | ||||||
| Restructuring and other | (58 | ) | (46 | ) | ||||||
| Other assets and liabilities | 19 | (247 | ) | |||||||
| Net cash provided by operating activities | 1,775 | 1,071 | ||||||||
| Cash flows from investing activities: | ||||||||||
| Investment in property, plant and equipment | (61 | ) | (81 | ) | ||||||
| Purchases of available-for-sale securities and other investments | (1,421 | ) | — | |||||||
| Maturities and sales of available-for-sale securities and other investments | — | 121 | ||||||||
| Proceeds from business divestiture | — | 99 | ||||||||
| Net cash (used in) provided by investing activities | (1,482 | ) | 139 | |||||||
| Cash flows from financing activities:(a) | ||||||||||
| Short-term borrowings with original maturities less than 90 days, net | 972 | 33 | ||||||||
| Payment of debt | (21 | ) | — | |||||||
| Settlement of cash flow hedges | — | (2 | ) | |||||||
| Net proceeds related to stock-based award activities | 24 | 28 | ||||||||
| Repurchase of common stock | (302 | ) | (57 | ) | ||||||
| Cash dividends paid | (222 | ) | (212 | ) | ||||||
| Net cash provided by (used in) financing activities | 451 | (210 | ) | |||||||
| Increase in cash and cash equivalents | 744 | 1,000 | ||||||||
| Cash and cash equivalents at beginning of period | 6,223 | 4,636 | ||||||||
| Cash and cash equivalents at end of period | $ | 6,967 | $ | 5,636 | ||||||
|
HP Inc. Reports Fiscal 2017 Third Quarter Results
(a) Pursuant to the adoption of Accounting Standard Update 2015-03 “Simplifying the Presentation of Debt Issuance Costs” in Q1 FY17, debt issuance costs has been reclassified from other non-current assets to long-term debt. The change has been adopted including prior comparative periods.
|
|
||||||
|
|
|||||||
|
|||||||
