| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Three months ended | |||||||
| October 31, 2024 | October 31, 2023 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 906 | $ | 974 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 208 | 212 | |||||
| Stock-based compensation expense | 85 | 85 | |||||
| Restructuring and other charges | 121 | 111 | |||||
| Deferred taxes on earnings | (191 | ) | (149 | ) | |||
| Other, net | (14 | ) | 51 | ||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | (482 | ) | 98 | ||||
| Inventory | 101 | 304 | |||||
| Accounts payable | 1,398 | (107 | ) | ||||
| Net investment in leases from integrated financing | (42 | ) | (28 | ) | |||
| Taxes on earnings | 65 | (156 | ) | ||||
| Restructuring and other | (60 | ) | (66 | ) | |||
| Other assets and liabilities | (472 | ) | 646 | ||||
| Net cash provided by operating activities | 1,623 | 1,975 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment, net | (153 | ) | (134 | ) | |||
| Purchases of available-for-sale securities and other investments | (4 | ) | (5 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 8 | 3 | |||||
| Collateral returned for derivative instruments | 60 | 118 | |||||
| Payment made in connection with business acquisition, net of cash acquired | (43 | ) | (2 | ) | |||
| Net cash used in investing activities | (132 | ) | (20 | ) | |||
| Cash flows from financing activities: | |||||||
| Payments of short-term borrowings with original maturities less than 90 days, net | — | (200 | ) | ||||
| Proceeds from debt, net of issuance costs | 114 | 78 | |||||
| Payment of debt and associated costs | (60 | ) | (46 | ) | |||
| Stock-based award activities and others | (7 | ) | (13 | ) | |||
| Repurchase of common stock | (900 | ) | — | ||||
| Cash dividends paid | (263 | ) | (260 | ) | |||
| Net cash used in financing activities | (1,116 | ) | (441 | ) | |||
| Increase in cash, cash equivalents and restricted cash | 375 | 1,514 | |||||
| Cash, cash equivalents and restricted cash at beginning of period | 2,878 | 1,718 | |||||
| Cash, cash equivalents and restricted cash at end of period | $ | 3,253 | $ | 3,232 | |||
