| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) |
| Twelve months ended | |||||||
| October 31, 2020 | October 31, 2019 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 2,844 | $ | 3,152 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 789 | 744 | |||||
| Stock-based compensation expense | 278 | 297 | |||||
| Restructuring and other charges | 462 | 275 | |||||
| Deferred taxes on earnings | 70 | 133 | |||||
| Defined benefit plan settlement charges | 214 | — | |||||
| Other, net | 325 | 254 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | 575 | (761 | ) | ||||
| Inventory | (386 | ) | (68 | ) | |||
| Accounts payable | (35 | ) | (53 | ) | |||
| Net investment in leases | (152 | ) | — | ||||
| Taxes on earnings | (147 | ) | (851 | ) | |||
| Restructuring and other | (489 | ) | (154 | ) | |||
| Other assets and liabilities | (32 | ) | 1,686 | ||||
| Net cash provided by operating activities | 4,316 | 4,654 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (580 | ) | (671 | ) | |||
| Proceeds from the sale of property, plant and equipment | 3 | — | |||||
| Purchases of available-for-sale securities and other investments | (693 | ) | (80 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 417 | 771 | |||||
| Net change in collateral on derivatives | (163 | ) | — | ||||
| Payment made in connection with business acquisitions, net of cash acquired | — | (458 | ) | ||||
| Net cash used in investing activities | (1,016 | ) | (438 | ) | |||
| Cash flows from financing activities: | |||||||
| Payment of short-term borrowings with original maturities less than 90 days, net | — | (856 | ) | ||||
| Proceed from short-term borrowings with original maturities greater than 90 days | 27 | — | |||||
| Proceeds from debt, net of issuance costs | 3,081 | 127 | |||||
| Payment of debt | (1,849 | ) | (680 | ) | |||
| Stock-based award activities and others | (128 | ) | (61 | ) | |||
| Repurchase of common stock | (3,107 | ) | (2,405 | ) | |||
| Cash dividends paid | (997 | ) | (970 | ) | |||
| Net cash used in financing activities | (2,973 | ) | (4,845 | ) | |||
| Increase (decrease) in cash and cash equivalents | 327 | (629 | ) | ||||
| Cash and cash equivalents at beginning of period | 4,537 | 5,166 | |||||
| Cash and cash equivalents at end of period | $ | 4,864 | $ | 4,537 | |||
