(a) Pursuant to the adoption of Accounting Standard Update 2016-09 “Improvements to Employee Share-Based Payment Accounting” in Q1 FY17, excess income tax benefit from stock-based compensation expense is no longer separated from operating income tax cash flows and reported as financing activity. In addition, income taxes paid on shares withheld is now required to be presented as financing activity as opposed to operating activity. The change has been adopted including prior comparative periods.

HP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions)
			Nine months ended July 31
			2017					2016
Cash flows from operating activities:(a)
Net earnings			$	1,866				$	2,004
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization			263					249
Stock-based compensation expense			169					140
Restructuring and other charges			249					151
Deferred taxes on earnings			412					978
Other, net			69					(290		)
Changes in operating assets and liabilities:
Accounts receivable			(215		)			728
Inventory			(731		)			251
Accounts payable			1,738					238
Taxes on earnings			(245		)			(877		)
Restructuring and other			(155		)			(114		)
Other assets and liabilities			(423		)			(910		)
Net cash provided by operating activities			2,997					2,548
Cash flows from investing activities:
Investment in property, plant and equipment			(237		)			(287		)
Proceeds from sale of property, plant and equipment			69					—
Purchases of available-for-sale securities and other investments			(1,557		)			(122		)
Maturities and sales of available-for-sale securities and other investments			2					133
Proceeds from business divestiture			—					160
Net cash used in investing activities			(1,723		)			(116		)
Cash flows from financing activities: (a)
Short-term borrowings with original maturities less than 90 days, net			1,046					72
Proceeds from debt, net of issuance costs			5					4
Payment of debt			(65		)			(2,158		)
Settlement of cash flow hedges			(9		)			4
Net transfer of cash and cash equivalents to Hewlett Packard Enterprise Company			—					(10,375		)
Net proceeds related to stock-based award activities			12					29
Repurchase of common stock			(911		)			(1,159		)
Cash dividends paid			(673		)			(646		)
Net cash used in financing activities			(595		)			(14,229		)
Increase (decrease) in cash and cash equivalents			679					(11,797		)
Cash and cash equivalents at beginning of period			6,288					17,433
Cash and cash equivalents at end of period			$	6,967				$	5,636

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