HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
| Three months ended | |||||||
| October 31, 2022 | October 31, 2021 | ||||||
| Cash flows from operating activities: | |||||||
| Net (loss) earnings | $ | (2 | ) | $ | 3,099 | ||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 209 | 200 | |||||
| Stock-based compensation expense | 70 | 70 | |||||
| Restructuring and other charges | 70 | 29 | |||||
| Deferred taxes on earnings | 527 | (512 | ) | ||||
| Defined benefit plan settlement gains | — | (37 | ) | ||||
| Other, net | 114 | 186 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | 184 | (583 | ) | ||||
| Inventory | 803 | 61 | |||||
| Accounts payable | (437 | ) | 117 | ||||
| Net investment in leases | (61 | ) | (33 | ) | |||
| Taxes on earnings | 37 | 45 | |||||
| Restructuring and other | (60 | ) | (39 | ) | |||
| Other assets and liabilities | 450 | 245 | |||||
| Net cash provided by operating activities | 1,904 | 2,848 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (144 | ) | (172 | ) | |||
| Purchases of available-for-sale securities and other investments | (2 | ) | (4 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 1 | 21 | |||||
| Collateral posted for derivative instruments | — | 27 | |||||
| Payment made in connection with business acquisition, net of cash acquired | (2,731 | ) | (272 | ) | |||
| Net cash used in investing activities | (2,876 | ) | (400 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceeds from short-term borrowings with original maturities less than 90 days, net | — | 400 | |||||
| Proceeds from debt, net of issuance costs | 89 | 47 | |||||
| Payment of debt | (552 | ) | (53 | ) | |||
| Stock-based award activities and others | (7 | ) | (9 | ) | |||
| Repurchase of common stock | (750 | ) | (1,754 | ) | |||
| Cash dividends paid | (249 | ) | (219 | ) | |||
| Collateral withdrawn for derivative instruments | 200 | — | |||||
| Net cash used in financing activities | (1,269 | ) | (1,588 | ) | |||
| (Decrease) increase in cash and cash equivalents | (2,241 | ) | 860 | ||||
| Cash and cash equivalents at beginning of period | 5,386 | 3,439 | |||||
| Cash and cash equivalents at end of period | $ | 3,145 | $ | 4,299 | |||
