| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Twelve months ended | |||||||
| October 31, 2024 | October 31, 2023 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 2,775 | $ | 3,263 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 830 | 850 | |||||
| Stock-based compensation expense | 452 | 438 | |||||
| Restructuring and other charges | 301 | 527 | |||||
| Deferred taxes on earnings | (122 | ) | (923 | ) | |||
| Other, net | (38 | ) | (10 | ) | |||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | (929 | ) | 278 | ||||
| Inventory | (852 | ) | 668 | ||||
| Accounts payable | 2,840 | (1,240 | ) | ||||
| Net investment in leases from integrated financing | (165 | ) | (110 | ) | |||
| Taxes on earnings | (24 | ) | 198 | ||||
| Restructuring and other | (264 | ) | (310 | ) | |||
| Other assets and liabilities | (1,055 | ) | (58 | ) | |||
| Net cash provided by operating activities | 3,749 | 3,571 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment, net | (592 | ) | (593 | ) | |||
| Purchases of available-for-sale securities and other investments | (4 | ) | (11 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 8 | 21 | |||||
| Payment made in connection with business acquisitions, net of cash acquired | (58 | ) | (7 | ) | |||
| Net cash used in investing activities | (646 | ) | (590 | ) | |||
| Cash flows from financing activities: | |||||||
| Payments of short-term borrowings with original maturities less than 90 days, net | — | (10 | ) | ||||
| Proceeds from debt, net of issuance costs | 380 | 255 | |||||
| Payment of debt and associated costs | (213 | ) | (1,700 | ) | |||
| Stock-based award activities and others | (74 | ) | (99 | ) | |||
| Repurchase of common stock | (2,100 | ) | (100 | ) | |||
| Cash dividends paid | (1,075 | ) | (1,037 | ) | |||
| Collateral returned for derivative instruments | — | (200 | ) | ||||
| Settlement of cash flow hedges | — | (3 | ) | ||||
| Net cash used in financing activities | (3,082 | ) | (2,894 | ) | |||
| Increase in cash, cash equivalents and restricted cash | 21 | 87 | |||||
| Cash, cash equivalents and restricted cash at beginning of period | 3,232 | 3,145 | |||||
| Cash, cash equivalents and restricted cash at end of period | $ | 3,253 | $ | 3,232 | |||
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HP Inc. Reports Fiscal 2024 Full Year and Fourth Quarter Results
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