HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
| Three months ended | |||||||
| January 31, 2021 | January 31, 2020 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 1,068 | $ | 678 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 203 | 198 | |||||
| Stock-based compensation expense | 115 | 109 | |||||
| Restructuring and other charges | 121 | 291 | |||||
| Deferred taxes on earnings | 67 | 117 | |||||
| Other, net | 62 | 54 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | 77 | 1,167 | |||||
| Inventory | (725) | 761 | |||||
| Accounts payable | 280 | (1,919) | |||||
| Net investment in leases | (17) | (34) | |||||
| Taxes on earnings | 70 | (27) | |||||
| Restructuring and other | (69) | (109) | |||||
| Other assets and liabilities | (230) | (1) | |||||
| Net cash provided by operating activities | 1,022 | 1,285 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (131) | (198) | |||||
| Purchases of available-for-sale securities and other investments | (1) | (311) | |||||
| Maturities and sales of available-for-sale securities and other investments | 274 | 11 | |||||
| Collateral posted for derivative instruments | (145) | — | |||||
| Net cash used in investing activities | (3) | (498) | |||||
| Cash flows from financing activities: | |||||||
| Proceed from short-term borrowings with original maturities greater than 90 days | 6 | 2 | |||||
| Proceeds from debt, net of issuance costs | 20 | 9 | |||||
| Payment of debt | (68) | (67) | |||||
| Stock-based award activities and others | (53) | (116) | |||||
| Repurchase of common stock | (1,378) | (691) | |||||
| Cash dividends paid | (250) | (256) | |||||
| Net cash used in financing activities | (1,723) | (1,119) | |||||
| Decrease in cash and cash equivalent | (704) | (332) | |||||
| Cash and cash equivalents at beginning of period | 4,864 | 4,537 | |||||
| Cash and cash equivalents at end of period | $ | 4,160 | $ | 4,205 | |||
