|
HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Three Months Ended January 31, | |||||||
| 2018 | 2017 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 1,436 | $ | 267 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 635 | 840 | |||||
| Stock-based compensation expense | 103 | 145 | |||||
| Provision for doubtful accounts and inventory | 41 | 7 | |||||
| Restructuring charges | 174 | 177 | |||||
| Deferred taxes on earnings | (1,335 | ) | (125 | ) | |||
| (Earnings) loss from equity interests | (22 | ) | 22 | ||||
| Other, net | 102 | 125 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | (34 | ) | 466 | ||||
| Financing receivables | (287 | ) | 126 | ||||
| Inventory | (146 | ) | (132 | ) | |||
| Accounts payable | (107 | ) | (231 | ) | |||
| Taxes on earnings | (1,009 | ) | (22 | ) | |||
| Restructuring | (226 | ) | (326 | ) | |||
| Other assets and liabilities(a) | 817 | (2,529 | ) | ||||
| Net cash provided by (used in) operating activities | 142 | (1,190 | ) | ||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (669 | ) | (923 | ) | |||
| Proceeds from sale of property, plant and equipment | 115 | 84 | |||||
| Purchases of available-for-sale securities and other investments | (3 | ) | (7 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | — | 1 | |||||
| Financial collateral posted | (706 | ) | — | ||||
| Financial collateral returned | 144 | — | |||||
| Payments made in connection with business acquisitions, net of cash acquired | — | (292 | ) | ||||
| Proceeds from business divestitures, net(b) | — | (20 | ) | ||||
| Net cash used in investing activities | (1,119 | ) | (1,157 | ) | |||
| Cash flows from financing activities: | |||||||
| Short-term borrowings with original maturities less than 90 days, net | (3 | ) | 24 | ||||
| Proceeds from debt, net of issuance costs | 270 | 248 | |||||
| Payment of debt | (253 | ) | (262 | ) | |||
| Net proceeds (payments) related to stock-based award activities (c) | 17 | (42 | ) | ||||
| Repurchase of common stock | (742 | ) | (641 | ) | |||
| Net transfer of cash and cash equivalents to Everett | (28 | ) | — | ||||
| Net transfer of cash and cash equivalents to Seattle | (70 | ) | — | ||||
| Cash dividends paid | (120 | ) | (109 | ) | |||
| Net cash used in financing activities | (929 | ) | (782 | ) | |||
| Decrease in cash and cash equivalents | (1,906 | ) | (3,129 | ) | |||
| Cash and cash equivalents at beginning of period | 9,579 | 12,987 | |||||
| Cash and cash equivalents at end of period | $ | 7,673 | $ | 9,858 | |||
(a) For the three months ended January 31, 2017, the amount includes $1.9 billion of pension funding payments associated with the separation and merger of Everett SpinCo, Inc. with Computer Sciences Corporation.
