HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
| Nine months ended | |||||||
| July 31, 2021 | July 31, 2020 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 3,404 | $ | 2,176 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 585 | 593 | |||||
| Stock-based compensation expense | 260 | 221 | |||||
| Restructuring and other charges | 216 | 431 | |||||
| Deferred taxes on earnings | (93 | ) | 146 | ||||
| Other, net | 254 | 281 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | 503 | 699 | |||||
| Inventory | (2,225 | ) | (247 | ) | |||
| Accounts payable | 1,140 | (433 | ) | ||||
| Net investment in leases | (78 | ) | (112 | ) | |||
| Taxes on earnings | 19 | (238 | ) | ||||
| Restructuring and other | (166 | ) | (412 | ) | |||
| Other assets and liabilities | (258 | ) | (663 | ) | |||
| Net cash provided by operating activities | 3,561 | 2,442 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (410 | ) | (464 | ) | |||
| Proceeds from the sale of property, plant and equipment | — | 3 | |||||
| Purchases of available-for-sale securities and other investments | (24 | ) | (533 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 283 | 303 | |||||
| Collateral posted for derivative instruments | 121 | (240 | ) | ||||
| Payment made in connection with business acquisitions, net of cash acquired | (582 | ) | — | ||||
| Net cash used in investing activities | (612 | ) | (931 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceed from short-term borrowings with original maturities greater than 90 days | 22 | 19 | |||||
| Proceeds from debt, net of issuance costs | 2,052 | 3,051 | |||||
| Payment of debt | (1,192 | ) | (1,788 | ) | |||
| Stock-based award activities and others | (42 | ) | (125 | ) | |||
| Repurchase of common stock | (4,495 | ) | (1,767 | ) | |||
| Cash dividends paid | (719 | ) | (759 | ) | |||
| Net cash used in financing activities | (4,374 | ) | (1,369 | ) | |||
| (Decrease) increase in cash and cash equivalent | (1,425 | ) | 142 | ||||
| Cash and cash equivalents at beginning of period | 4,864 | 4,537 | |||||
| Cash and cash equivalents at end of period | $ | 3,439 | $ | 4,679 | |||
