HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
| Twelve months ended | |||||||
| October 31, 2022 | October 31, 2021 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 3,203 | $ | 6,503 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 780 | 785 | |||||
| Stock-based compensation expense | 343 | 330 | |||||
| Restructuring and other charges | 233 | 245 | |||||
| Deferred taxes on earnings | 574 | (605 | ) | ||||
| Defined benefit plan settlement gains | — | (37 | ) | ||||
| Other, net | 475 | 440 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | 1,260 | (80 | ) | ||||
| Inventory | 233 | (2,164 | ) | ||||
| Accounts payable | (928 | ) | 1,257 | ||||
| Net investment in leases | (155 | ) | (111 | ) | |||
| Taxes on earnings | (83 | ) | 64 | ||||
| Restructuring and other | (245 | ) | (205 | ) | |||
| Other assets and liabilities | (1,227 | ) | (13 | ) | |||
| Net cash provided by operating activities | 4,463 | 6,409 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (791 | ) | (582 | ) | |||
| Proceeds from the sale of property, plant and equipment | 26 | — | |||||
| Purchases of available-for-sale securities and other investments | (52 | ) | (28 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 9 | 304 | |||||
| Collateral posted for derivative instruments | 14 | 148 | |||||
| Payment made in connection with business acquisitions, net of cash acquired | (2,755 | ) | (854 | ) | |||
| Net cash used in investing activities | (3,549 | ) | (1,012 | ) | |||
| Cash flows from financing activities: | |||||||
| (Payment of) Proceeds from short-term borrowings with original maturities less than 90 days, net | (400 | ) | 400 | ||||
| Proceeds from debt, net of issuance costs | 4,175 | 2,121 | |||||
| Payment of debt | (693 | ) | (1,245 | ) | |||
| Stock-based award activities and others | (95 | ) | (51 | ) | |||
| Repurchase of common stock | (4,297 | ) | (6,249 | ) | |||
| Cash dividends paid | (1,037 | ) | (938 | ) | |||
| Collateral withdrawn for derivative instruments | 200 | — | |||||
| Settlement of cash flow hedges | 79 | — | |||||
| Net cash used in financing activities | (2,068 | ) | (5,962 | ) | |||
| Decrease in cash and cash equivalents | (1,154 | ) | (565 | ) | |||
| Cash and cash equivalents at beginning of period | 4,299 | 4,864 | |||||
| Cash and cash equivalents at end of period | $ | 3,145 | $ | 4,299 | |||
