| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) |
| Three months ended | |||||||
| October 31, 2020 | October 31, 2019 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 668 | $ | 388 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 196 | 205 | |||||
| Stock-based compensation expense | 57 | 64 | |||||
| Restructuring and other charges | 31 | 134 | |||||
| Deferred taxes on earnings | (76 | ) | (192 | ) | |||
| Defined benefit plan settlement charges | 214 | — | |||||
| Other, net | 44 | 78 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | (124 | ) | (739 | ) | |||
| Inventory | (139 | ) | (44 | ) | |||
| Accounts payable | 398 | 85 | |||||
| Net investment in leases | (40 | ) | — | ||||
| Taxes on earnings | 91 | 272 | |||||
| Restructuring and other | (77 | ) | (32 | ) | |||
| Other assets and liabilities | 631 | 369 | |||||
| Net cash provided by operating activities | 1,874 | 588 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (116 | ) | (196 | ) | |||
| Purchases of available-for-sale securities and other investments | (160 | ) | — | ||||
| Maturities and sales of available-for-sale securities and other investments | 114 | — | |||||
| Net change in collateral on derivatives | 77 | — | |||||
| Payment made in connection with business acquisition, net of cash acquired | — | (31 | ) | ||||
| Net cash used in investing activities | (85 | ) | (227 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceed from short-term borrowings with original maturities greater than 90 days | 8 | — | |||||
| Proceeds from debt, net of issuance costs | 30 | 33 | |||||
| Payment of debt | (61 | ) | (76 | ) | |||
| Stock-based award activities and others | (3 | ) | (3 | ) | |||
| Repurchase of common stock | (1,340 | ) | (461 | ) | |||
| Cash dividends paid | (238 | ) | (236 | ) | |||
| Net cash used in financing activities | (1,604 | ) | (743 | ) | |||
| Increase (decrease) in cash and cash equivalents | 185 | (382 | ) | ||||
| Cash and cash equivalents at beginning of period | 4,679 | 4,919 | |||||
| Cash and cash equivalents at end of period | $ | 4,864 | $ | 4,537 | |||
