HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
Twelve months ended | |||||||
October 31, 2023 | October 31, 2022 | ||||||
Cash flows from operating activities: | |||||||
Net earnings | $ | 3,263 | $ | 3,132 | |||
Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
Depreciation and amortization | 850 | 780 | |||||
Stock-based compensation expense | 438 | 343 | |||||
Restructuring and other charges | 527 | 218 | |||||
Deferred taxes on earnings | (923 | ) | 577 | ||||
Other, net | (10 | ) | 475 | ||||
Changes in operating assets and liabilities, net of acquisitions: | |||||||
Accounts receivable | 278 | 1,285 | |||||
Inventory | 668 | 214 | |||||
Accounts payable | (1,240 | ) | (909 | ) | |||
Net investment in leases | (110 | ) | (155 | ) | |||
Taxes on earnings | 198 | (134 | ) | ||||
Restructuring and other | (310 | ) | (245 | ) | |||
Other assets and liabilities | (58 | ) | (1,118 | ) | |||
Net cash provided by operating activities | 3,571 | 4,463 | |||||
Cash flows from investing activities: | |||||||
Investment in property, plant and equipment | (609 | ) | (791 | ) | |||
Proceeds from sale of property, plant and equipment | 16 | 26 | |||||
Purchases of available-for-sale securities and other investments | (11 | ) | (52 | ) | |||
Maturities and sales of available-for-sale securities and other investments | 21 | 9 | |||||
Collateral returned for derivative instruments | — | 14 | |||||
Payment made in connection with business acquisitions, net of cash acquired | (7 | ) | (2,755 | ) | |||
Net cash used in investing activities | (590 | ) | (3,549 | ) | |||
Cash flows from financing activities: | |||||||
Payment of short-term borrowings with original maturities less than 90 days, net | (10 | ) | (400 | ) | |||
Proceeds from debt, net of issuance costs | 255 | 4,175 | |||||
Payment of debt and associated costs | (1,700 | ) | (693 | ) | |||
Stock-based award activities and others | (100 | ) | (95 | ) | |||
Repurchase of common stock | (100 | ) | (4,297 | ) | |||
Cash dividends paid | (1,036 | ) | (1,037 | ) | |||
Collateral (returned) withdrawn for derivative instruments | (200 | ) | 200 | ||||
Settlement of cash flow hedges | (3 | ) | 79 | ||||
Net cash used in financing activities | (2,894 | ) | (2,068 | ) | |||
Increase (decrease) in cash, cash equivalents and restricted cash | 87 | (1,154 | ) | ||||
Cash, cash equivalents and restricted cash at beginning of period | 3,145 | 4,299 | |||||
Cash, cash equivalents and restricted cash at end of period | $ | 3,232 | $ | 3,145 |