| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Nine months ended | |||||||
| July 31, 2023 | July 31, 2022 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 2,289 | $ | 3,155 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 638 | 571 | |||||
| Stock-based compensation expense | 353 | 273 | |||||
| Restructuring and other charges | 416 | 149 | |||||
| Deferred taxes on earnings | (774 | ) | 51 | ||||
| Other, net | (61 | ) | 361 | ||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | 180 | 1,101 | |||||
| Inventory | 364 | (570 | ) | ||||
| Accounts payable | (1,133 | ) | (491 | ) | |||
| Net investment in leases | (82 | ) | (94 | ) | |||
| Taxes on earnings | 354 | (165 | ) | ||||
| Restructuring and other | (244 | ) | (185 | ) | |||
| Other assets and liabilities | (704 | ) | (1,597 | ) | |||
| Net cash provided by operating activities | 1,596 | 2,559 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (459 | ) | (647 | ) | |||
| Proceeds from the sale of property, plant and equipment | — | 26 | |||||
| Purchases of available-for-sale securities and other investments | (6 | ) | (50 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 18 | 8 | |||||
| Collateral (posted) returned for derivative instruments | (118 | ) | 14 | ||||
| Payment made in connection with business acquisitions, net of cash acquired | (5 | ) | (24 | ) | |||
| Net cash used in investing activities | (570 | ) | (673 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceeds from (payment of) short-term borrowings with original maturities less than 90 days, net | 190 | (400 | ) | ||||
| Proceeds from debt, net of issuance costs | 177 | 4,086 | |||||
| Payment of debt and associated costs | (1,654 | ) | (141 | ) | |||
| Stock-based award activities and others | (86 | ) | (88 | ) | |||
| Repurchase of common stock | (100 | ) | (3,547 | ) | |||
| Cash dividends paid | (777 | ) | (788 | ) | |||
| Collateral returned for derivative instruments | (200 | ) | — | ||||
| Settlement of cash flow hedges | (3 | ) | 79 | ||||
| Net cash used in financing activities | (2,453 | ) | (799 | ) | |||
| (Decrease) increase in cash, cash equivalents and restricted cash | (1,427 | ) | 1,087 | ||||
| Cash, cash equivalents and restricted cash at beginning of period | 3,145 | 4,299 | |||||
| Cash, cash equivalents and restricted cash at end of period | $ | 1,718 | $ | 5,386 | |||
|
HP Inc. Reports Fiscal 2023 Third Quarter Results
|
|
||||||
|
|
|||||||
|
|||||||
