HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||||
Three months ended | |||||||||
July 31, 2020 | July 31, 2019 | ||||||||
Cash flows from operating activities: | |||||||||
Net earnings | $ | 734 | $ | 1,179 | |||||
Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||||
Depreciation and amortization | 197 | 190 | |||||||
Stock-based compensation expense | 49 | 60 | |||||||
Restructuring and other charges | 59 | 17 | |||||||
Deferred taxes on earnings | 32 | 207 | |||||||
Other, net | 128 | 63 | |||||||
Changes in operating assets and liabilities, net of acquisitions: | |||||||||
Accounts receivable | (157 | ) | 81 | ||||||
Inventory | 398 | (386 | ) | ||||||
Accounts payable | 85 | 825 | |||||||
Net investment in leases | (27 | ) | — | ||||||
Taxes on earnings | (89 | ) | (1,123 | ) | |||||
Restructuring and other | (75 | ) | (43 | ) | |||||
Other assets and liabilities | 333 | 1,273 | |||||||
Net cash provided by operating activities | 1,667 | 2,343 | |||||||
Cash flows from investing activities: | |||||||||
Investment in property, plant and equipment | (117 | ) | (172 | ) | |||||
Purchases of available-for-sale securities and other investments | (230 | ) | (11 | ) | |||||
Maturities and sales of available-for-sale securities and other investments | — | 17 | |||||||
Collateral posted for derivative instruments | (240 | ) | — | ||||||
Payment made in connection with business acquisition, net of cash acquired | — | (23 | ) | ||||||
Net cash used in investing activities | (587 | ) | (189 | ) | |||||
Cash flows from financing activities: | |||||||||
Payment of short-term borrowings with original maturities less than 90 days, net | (613 | ) | — | ||||||
Proceed from short-term borrowings with original maturities greater than 90 days | 8 | — | |||||||
Proceeds from debt, net of issuance costs | 2,993 | 30 | |||||||
Payment of debt | (1,662 | ) | (66 | ) | |||||
Stock-based award activities and others | 23 | 18 | |||||||
Repurchase of common stock | (953 | ) | (533 | ) | |||||
Cash dividends paid | (251 | ) | (240 | ) | |||||
Net cash used in financing activities | (455 | ) | (791 | ) | |||||
Increase in cash and cash equivalents | 625 | 1,363 | |||||||
Cash and cash equivalents at beginning of period | 4,054 | 3,556 | |||||||
Cash and cash equivalents at end of period | $ | 4,679 | $ | 4,919 |