| HP INC. AND SUBSIDIARIES | |||||||
| CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS | |||||||
| (Unaudited) | |||||||
| (In millions) | |||||||
| Three months ended | |||||||
| January 31, 2020 | January 31, 2019 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 678 | $ | 803 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 198 | 168 | |||||
| Stock-based compensation expense | 109 | 107 | |||||
| Restructuring and other charges | 291 | 55 | |||||
| Deferred taxes on earnings | 117 | 103 | |||||
| Other, net | 54 | (5 | ) | ||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | 1,167 | 211 | |||||
| Inventory | 761 | 191 | |||||
| Accounts payable | (1,919 | ) | (184 | ) | |||
| Net investment in leases | (34 | ) | — | ||||
| Taxes on earnings | (27 | ) | 11 | ||||
| Restructuring and other | (109 | ) | (46 | ) | |||
| Other assets and liabilities | (1 | ) | (552 | ) | |||
| Net cash provided by operating activities | 1,285 | 862 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (198 | ) | (189 | ) | |||
| Purchases of available-for-sale securities and other investments | (311 | ) | (69 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 11 | 344 | |||||
| Collateral posted for derivative instruments | — | (30 | ) | ||||
| Collateral returned for derivative instruments | — | 30 | |||||
| Payment made in connection with business acquisitions, net of cash acquired | — | (404 | ) | ||||
| Net cash used in investing activities | (498 | ) | (318 | ) | |||
| Cash flows from financing activities: | |||||||
| Payment of short-term borrowings with original maturities less than 90 days, net | — | (855 | ) | ||||
| Proceed from short-term borrowings with original maturities greater than 90 days | 2 | — | |||||
| Proceeds from debt, net of issuance costs | 9 | 40 | |||||
| Payment of debt | (67 | ) | (476 | ) | |||
| Stock-based award activities | (116 | ) | (83 | ) | |||
| Repurchase of common stock | (691 | ) | (720 | ) | |||
| Cash dividends paid | (256 | ) | (249 | ) | |||
| Net cash used in financing activities | (1,119 | ) | (2,343 | ) | |||
| Decrease in cash and cash equivalents | (332 | ) | (1,799 | ) | |||
| Cash and cash equivalents at beginning of period | 4,537 | 5,166 | |||||
| Cash and cash equivalents at end of period | $ | 4,205 | $ | 3,367 | |||
