| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Six months ended | |||||||
| April 30, 2020 | April 30, 2019 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 1,442 | $ | 1,585 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 396 | 349 | |||||
| Stock-based compensation expense | 172 | 173 | |||||
| Restructuring and other charges | 372 | 124 | |||||
| Deferred taxes on earnings | 114 | 118 | |||||
| Other, net | 153 | 113 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | 856 | (103 | ) | ||||
| Inventory | (645 | ) | 362 | ||||
| Accounts payable | (518 | ) | (963 | ) | |||
| Net investment in leases | (85 | ) | — | ||||
| Taxes on earnings | (149 | ) | — | ||||
| Restructuring and other | (337 | ) | (79 | ) | |||
| Other assets and liabilities | (996 | ) | 44 | ||||
| Net cash provided by operating activities | 775 | 1,723 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (347 | ) | (303 | ) | |||
| Proceeds from the sale of property, plant and equipment | 3 | — | |||||
| Purchases of available-for-sale securities and other investments | (303 | ) | (69 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 303 | 754 | |||||
| Collateral posted for derivative instruments | — | (32 | ) | ||||
| Collateral returned for derivative instruments | — | 32 | |||||
| Payment made in connection with business acquisitions, net of cash acquired | (36 | ) | (404 | ) | |||
| Net cash used in investing activities | (380 | ) | (22 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceeds from (Payment of) short-term borrowings with original maturities less than 90 days, net | 613 | (856 | ) | ||||
| Proceed from short-term borrowings with original maturities greater than 90 days | 11 | — | |||||
| Proceeds from debt, net of issuance costs | 58 | 64 | |||||
| Payment of debt | (126 | ) | (538 | ) | |||
| Stock-based award activities | (112 | ) | (76 | ) | |||
| Repurchase of common stock | (814 | ) | (1,411 | ) | |||
| Cash dividends paid | (508 | ) | (494 | ) | |||
| Net cash used in financing activities | (878 | ) | (3,311 | ) | |||
| Decrease in cash and cash equivalents | (483 | ) | (1,610 | ) | |||
| Cash and cash equivalents at beginning of period | 4,537 | 5,166 | |||||
| Cash and cash equivalents at end of period | $ | 4,054 | $ | 3,556 | |||
