HP Inc. Reports Fiscal 2024 Full Year and Fourth Quarter Results



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  



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