HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
Six months ended | |||||||
April 30, 2024 | April 30, 2023 | ||||||
Cash flows from operating activities: | |||||||
Net earnings | $ | 1,229 | $ | 1,523 | |||
Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
Depreciation and amortization | 414 | 421 | |||||
Stock-based compensation expense | 271 | 262 | |||||
Restructuring and other charges | 134 | 341 | |||||
Deferred taxes on earnings | — | (825 | ) | ||||
Other, net | (13 | ) | 36 | ||||
Changes in operating assets and liabilities, net of acquisitions: | |||||||
Accounts receivable | (106 | ) | 426 | ||||
Inventory | (678 | ) | 374 | ||||
Accounts payable | 360 | (1,933 | ) | ||||
Net investment in leases | (81 | ) | (51 | ) | |||
Taxes on earnings | (128 | ) | 330 | ||||
Restructuring and other | (144 | ) | (167 | ) | |||
Other assets and liabilities | (556 | ) | (117 | ) | |||
Net cash provided by operating activities | 702 | 620 | |||||
Cash flows from investing activities: | |||||||
Investment in property, plant and equipment, net | (277 | ) | (322 | ) | |||
Purchases of available-for-sale securities and other investments | — | (5 | ) | ||||
Maturities and sales of available-for-sale securities and other investments | — | 18 | |||||
Collateral posted for derivative instruments | — | (127 | ) | ||||
Payment made in connection with business acquisitions, net of cash acquired | — | (5 | ) | ||||
Net cash used in investing activities | (277 | ) | (441 | ) | |||
Cash flows from financing activities: | |||||||
Payment of short-term borrowings with original maturities less than 90 days, net | — | (10 | ) | ||||
Proceeds from debt, net of issuance costs | 186 | 117 | |||||
Payment of debt | (102 | ) | (587 | ) | |||
Stock-based award activities and others | (80 | ) | (86 | ) | |||
Repurchase of common stock | (600 | ) | (100 | ) | |||
Cash dividends paid | (544 | ) | (518 | ) | |||
Collateral returned for derivative instruments | — | (200 | ) | ||||
Net cash used in financing activities | (1,140 | ) | (1,384 | ) | |||
Decrease in cash, cash equivalents and restricted cash | (715 | ) | (1,205 | ) | |||
Cash, cash equivalents and restricted cash at beginning of period | 3,232 | 3,145 | |||||
Cash, cash equivalents and restricted cash at end of period | $ | 2,517 | $ | 1,940 | |||