HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
| Three months ended | |||||||
| July 31, 2021 | July 31, 2020 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 1,108 | $ | 734 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 196 | 197 | |||||
| Stock-based compensation expense | 69 | 49 | |||||
| Restructuring and other charges | 56 | 59 | |||||
| Deferred taxes on earnings | (143 | ) | 32 | ||||
| Other, net | 153 | 128 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | 168 | (157 | ) | ||||
| Inventory | (670 | ) | 398 | ||||
| Accounts payable | 625 | 85 | |||||
| Net investment in leases | (40 | ) | (27 | ) | |||
| Taxes on earnings | 118 | (89 | ) | ||||
| Restructuring and other | (51 | ) | (75 | ) | |||
| Other assets and liabilities | (496 | ) | 333 | ||||
| Net cash provided by operating activities | 1,093 | 1,667 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (158 | ) | (117 | ) | |||
| Purchases of available-for-sale securities and other investments | (11 | ) | (230 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 9 | — | |||||
| Collateral posted for derivative instruments | 275 | (240 | ) | ||||
| Payment made in connection with business acquisition, net of cash acquired | (412 | ) | — | ||||
| Net cash used in investing activities | (297 | ) | (587 | ) | |||
| 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 | 10 | 8 | |||||
| Proceeds from debt, net of issuance costs | 2,004 | 2,993 | |||||
| Payment of debt | (1,066 | ) | (1,662 | ) | |||
| Stock-based award activities and others | 8 | 23 | |||||
| Repurchase of common stock | (1,507 | ) | (953 | ) | |||
| Cash dividends paid | (230 | ) | (251 | ) | |||
| Net cash used in financing activities | (781 | ) | (455 | ) | |||
| Increase in cash and cash equivalent | 15 | 625 | |||||
| Cash and cash equivalents at beginning of period | 3,424 | 4,054 | |||||
| Cash and cash equivalents at end of period | $ | 3,439 | $ | 4,679 | |||
