| KEYSIGHT TECHNOLOGIES, INC. | ||||||||
| CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS | ||||||||
| (In millions) | ||||||||
| (Unaudited) | ||||||||
| PRELIMINARY | ||||||||
| Three Months | ||||||||
| Ended | ||||||||
| January 31, | ||||||||
| 2015 | ||||||||
| Cash flows from operating activities: | ||||||||
| Net income | $ | 70 | ||||||
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||||||||
| Depreciation and amortization | 23 | |||||||
| Share-based compensation | 29 | |||||||
| Excess tax benefit from share-based plans | (3 | ) | ||||||
| Deferred taxes | (1 | ) | ||||||
| Excess and obsolete inventory and inventory related charges | 10 | |||||||
| Other non-cash expenses, net | (1 | ) | ||||||
| Changes in assets and liabilities: | ||||||||
|
Accounts receivable |
36 | |||||||
| Inventory | (5 | ) | ||||||
| Accounts payable | (13 | ) | ||||||
| Payment to Agilent, net | (14 | ) | ||||||
| Employee compensation and benefits | (22 | ) | ||||||
| Other assets and liabilities | (17 | ) | ||||||
| Net cash provided by operating activities (a) | 92 | |||||||
| Cash flows from investing activities: | ||||||||
| Investments in property, plant and equipment | (15 | ) | ||||||
| Proceeds from sale of investment securities | 1 | |||||||
| Net cash used in investing activities | (14 | ) | ||||||
| Cash flows from financing activities: | ||||||||
| Issuance of common stock under employee stock plans | 4 | |||||||
| Excess tax benefit from share-based plans | 3 | |||||||
| Net cash provided by financing activities | 7 | |||||||
| Effect of exchange rate movements | (8 | ) | ||||||
| Net increase in cash and cash equivalents | 77 | |||||||
| Cash and cash equivalents at beginning of period | 810 | |||||||
| Cash and cash equivalents at end of period | $ | 887 | ||||||
| (a) Cash payments included in operating activities: | ||||||||
| Restructuring payments | 1 | |||||||
| Income tax payments, net | 14 | |||||||
| The preliminary cash flow is estimated based on our current information. | ||||||||
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