| 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| Collateral (returned) withdrawn for derivative instruments | (200 | ) | 200 | ||||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 | |||
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HP Inc. Reports Fiscal 2023 Full Year and Fourth Quarter Results
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