HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
| Six months ended | |||||||
| April 30, 2021 | April 30, 2020 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 2,296 | $ | 1,442 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 389 | 396 | |||||
| Stock-based compensation expense | 191 | 172 | |||||
| Restructuring and other charges | 160 | 372 | |||||
| Deferred taxes on earnings | 50 | 114 | |||||
| Other, net | 101 | 153 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | 335 | 856 | |||||
| Inventory | (1,555) | (645) | |||||
| Accounts payable | 515 | (518) | |||||
| Net investment in leases | (38) | (85) | |||||
| Taxes on earnings | (99) | (149) | |||||
| Restructuring and other | (115) | (337) | |||||
| Other assets and liabilities | 238 | (996) | |||||
| Net cash provided by operating activities | 2,468 | 775 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (252) | (347) | |||||
| Proceeds from the sale of property, plant and equipment | — | 3 | |||||
| Purchases of available-for-sale securities and other investments | (13) | (303) | |||||
| Maturities and sales of available-for-sale securities and other investments | 274 | 303 | |||||
| Collateral posted for derivative instruments | (154) | — | |||||
| Payment made in connection with business acquisitions, net of cash acquired | (170) | (36) | |||||
| Net cash used in investing activities | (315) | (380) | |||||
| Cash flows from financing activities: | |||||||
| Proceed from short-term borrowings with original maturities less than 90 days, net | — | 613 | |||||
| Proceed from short-term borrowings with original maturities greater than 90 days | 12 | 11 | |||||
| Proceeds from debt, net of issuance costs | 48 | 58 | |||||
| Payment of debt | (126) | (126) | |||||
| Stock-based award activities and other | (50) | (112) | |||||
| Repurchase of common stock | (2,988) | (814) | |||||
| Cash dividends paid | (489) | (508) | |||||
| Net cash used in financing activities | (3,593) | (878) | |||||
| Decrease in cash and cash equivalent | (1,440) | (483) | |||||
| Cash and cash equivalents at beginning of period | 4,864 | 4,537 | |||||
| Cash and cash equivalents at end of period | $ | 3,424 | $ | 4,054 | |||
