| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Three months ended | |||||||
| July 31, 2024 | July 31, 2023 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 640 | $ | 766 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 208 | 217 | |||||
| Stock-based compensation expense | 96 | 91 | |||||
| Restructuring and other charges | 46 | 75 | |||||
| Deferred taxes on earnings | 69 | 51 | |||||
| Other, net | (11 | ) | (97 | ) | |||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | (341 | ) | (246 | ) | |||
| Inventory | (275 | ) | (10 | ) | |||
| Accounts payable | 1,082 | 801 | |||||
| Net investment in leases from integrated financing | (42 | ) | (31 | ) | |||
| Taxes on earnings | 39 | 24 | |||||
| Restructuring and other | (60 | ) | (77 | ) | |||
| Other assets and liabilities | (27 | ) | (588 | ) | |||
| Net cash provided by operating activities | 1,424 | 976 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment, net | (162 | ) | (137 | ) | |||
| Purchases of available-for-sale securities and other investments | — | (1 | ) | ||||
| Collateral (posted) returned for derivative instruments | (60 | ) | 9 | ||||
| Payment made in connection with business acquisition, net of cash acquired | (15 | ) | — | ||||
| Net cash used in investing activities | (237 | ) | (129 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceeds from short-term borrowings with original maturities less than 90 days, net | — | 200 | |||||
| Proceeds from debt, net of issuance costs | 80 | 60 | |||||
| Payment of debt and associated costs | (51 | ) | (1,067 | ) | |||
| Stock-based award activities and others | 13 | — | |||||
| Repurchase of common stock | (600 | ) | — | ||||
| Cash dividends paid | (268 | ) | (259 | ) | |||
| Settlement of cash flow hedges | — | (3 | ) | ||||
| Net cash used in financing activities | (826 | ) | (1,069 | ) | |||
| Increase (decrease) in cash, cash equivalents and restricted cash | 361 | (222 | ) | ||||
| Cash, cash equivalents and restricted cash at beginning of period | 2,517 | 1,940 | |||||
| Cash, cash equivalents and restricted cash at end of period | $ | 2,878 | $ | 1,718 | |||
