| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) |
| Three months ended | |||||||
| January 31, 2024 | January 31, 2023 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 622 | $ | 469 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 205 | 209 | |||||
| Stock-based compensation expense | 177 | 167 | |||||
| Restructuring and other charges | 63 | 141 | |||||
| Deferred taxes on earnings | (5 | ) | (140 | ) | |||
| Other, net | (20 | ) | 4 | ||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | 446 | 244 | |||||
| Inventory | (47 | ) | 230 | ||||
| Accounts payable | (744 | ) | (1,731 | ) | |||
| Net investment in leases | (62 | ) | (16 | ) | |||
| Taxes on earnings | 49 | 220 | |||||
| Restructuring and other | (87 | ) | (92 | ) | |||
| Other assets and liabilities | (476 | ) | 279 | ||||
| Net cash provided by (used in) operating activities | 121 | (16 | ) | ||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment, net | (158 | ) | (192 | ) | |||
| Purchases of available-for-sale securities and other investments | — | (4 | ) | ||||
| Maturities and sales of available-for-sale securities and other investments | — | 1 | |||||
| Collateral posted for derivative instruments | (70 | ) | (240 | ) | |||
| Net cash used in investing activities | (228 | ) | (435 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceeds from short-term borrowings with original maturities less than 90 days, net | 100 | 200 | |||||
| Proceeds from debt, net of issuance costs | 92 | 52 | |||||
| Payment of debt | (49 | ) | (539 | ) | |||
| Stock-based award activities and others | (76 | ) | (79 | ) | |||
| Repurchase of common stock | (500 | ) | (100 | ) | |||
| Cash dividends paid | (275 | ) | (259 | ) | |||
| Collateral returned for derivative instruments | — | (200 | ) | ||||
| Net cash used in financing activities | (708 | ) | (925 | ) | |||
| Decrease in cash, cash equivalents and restricted cash | (815 | ) | (1,376 | ) | |||
| Cash, cash equivalents and restricted cash at beginning of period | 3,232 | 3,145 | |||||
| Cash, cash equivalents and restricted cash at end of period | $ | 2,417 | $ | 1,769 | |||
