HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
Six months ended | |||||||
April 30, 2021 | April 30, 2020 | ||||||
Cash flows from operating activities: | |||||||
Net earnings | $ | 2,296 | $ | 1,442 | |||
Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
Depreciation and amortization | 389 | 396 | |||||
Stock-based compensation expense | 191 | 172 | |||||
Restructuring and other charges | 160 | 372 | |||||
Deferred taxes on earnings | 50 | 114 | |||||
Other, net | 101 | 153 | |||||
Changes in operating assets and liabilities, net of acquisitions: | |||||||
Accounts receivable | 335 | 856 | |||||
Inventory | (1,555) | (645) | |||||
Accounts payable | 515 | (518) | |||||
Net investment in leases | (38) | (85) | |||||
Taxes on earnings | (99) | (149) | |||||
Restructuring and other | (115) | (337) | |||||
Other assets and liabilities | 238 | (996) | |||||
Net cash provided by operating activities | 2,468 | 775 | |||||
Cash flows from investing activities: | |||||||
Investment in property, plant and equipment | (252) | (347) | |||||
Proceeds from the sale of property, plant and equipment | — | 3 | |||||
Purchases of available-for-sale securities and other investments | (13) | (303) | |||||
Maturities and sales of available-for-sale securities and other investments | 274 | 303 | |||||
Collateral posted for derivative instruments | (154) | — | |||||
Payment made in connection with business acquisitions, net of cash acquired | (170) | (36) | |||||
Net cash used in investing activities | (315) | (380) | |||||
Cash flows from financing activities: | |||||||
Proceed from short-term borrowings with original maturities less than 90 days, net | — | 613 | |||||
Proceed from short-term borrowings with original maturities greater than 90 days | 12 | 11 | |||||
Proceeds from debt, net of issuance costs | 48 | 58 | |||||
Payment of debt | (126) | (126) | |||||
Stock-based award activities and other | (50) | (112) | |||||
Repurchase of common stock | (2,988) | (814) | |||||
Cash dividends paid | (489) | (508) | |||||
Net cash used in financing activities | (3,593) | (878) | |||||
Decrease in cash and cash equivalent | (1,440) | (483) | |||||
Cash and cash equivalents at beginning of period | 4,864 | 4,537 | |||||
Cash and cash equivalents at end of period | $ | 3,424 | $ | 4,054 |