| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) (In millions) | |||||||
| As of | |||||||
|
January 31,
2018 |
October 31,
2017 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 5,475 | $ | 6,997 | |||
| Accounts receivable | 4,396 | 4,414 | |||||
| Inventory | 5,655 | 5,786 | |||||
| Other current assets | 5,691 | 5,121 | |||||
| Total current assets | 21,217 | 22,318 | |||||
| Property, plant and equipment | 2,026 | 1,878 | |||||
| Goodwill | 5,935 | 5,622 | |||||
| Other non-current assets | 6,067 | 3,095 | |||||
| Total assets | $ | 35,245 | $ | 32,913 | |||
| LIABILITIES AND STOCKHOLDERS' DEFICIT | |||||||
| Current liabilities: | |||||||
| Notes payable and short-term borrowings | $ | 1,529 | $ | 1,072 | |||
| Accounts payable | 12,848 | 13,279 | |||||
| Employee compensation and benefits | 706 | 894 | |||||
| Taxes on earnings | 213 | 214 | |||||
| Deferred revenue | 1,039 | 1,012 | |||||
| Other accrued liabilities | 7,014 | 5,941 | |||||
| Total current liabilities | 23,349 | 22,412 | |||||
| Long-term debt | 6,340 | 6,747 | |||||
| Other non-current liabilities | 8,298 | 7,162 | |||||
| Stockholders' deficit | (2,742 | ) | (3,408 | ) | |||
| Total liabilities and stockholders' deficit | $ | 35,245 | $ | 32,913 | |||
| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Three months ended January 31 | |||||||
| 2018 | 2017 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 1,938 | $ | 611 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 129 | 84 | |||||
| Stock-based compensation expense | 85 | 75 | |||||
| Restructuring and other charges | 31 | 63 | |||||
| Deferred taxes on earnings | (3,713 | ) | 67 | ||||
| Other, net | 13 | 19 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | 272 | 614 | |||||
| Inventory | 364 | (69 | ) | ||||
| Accounts payable | (478 | ) | (116 | ) | |||
| Taxes on earnings | 2,463 | (75 | ) | ||||
| Restructuring and other | (133 | ) | (51 | ) | |||
| Other assets and liabilities | 25 | (455 | ) | ||||
| Net cash provided by operating activities | 996 | 767 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (129 | ) | (101 | ) | |||
| Proceeds from sale of property, plant and equipment | 110 | 69 | |||||
| Purchases of available-for-sale securities and other investments | (268 | ) | (2 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 139 | 2 | |||||
| Collateral posted for derivative instruments | (608 | ) | (54 | ) | |||
| Collateral returned for derivative instruments | 53 | — | |||||
| Payment made in connection with business acquisitions, net of cash acquired | (1,020 | ) | — | ||||
| Net cash used in investing activities | (1,723 | ) | (86 | ) | |||
| Cash flows from financing activities: | |||||||
| (Payments) proceeds from short-term borrowings with original maturities less than 90 days, net | (106 | ) | 35 | ||||
| Proceeds from short-term borrowings with original maturities greater than 90 days | 200 | — | |||||
| Proceeds from debt, net of issuance costs | — | 5 | |||||
| Payment of short-term borrowings with original maturities greater than 90 days | (118 | ) | (3 | ) | |||
| Payment of debt | (41 | ) | (24 | ) | |||
| Settlement of cash flow hedges | — | (4 | ) | ||||
| Net proceeds related to stock-based award activities | (38 | ) | (34 | ) | |||
| Repurchase of common stock | (462 | ) | (386 | ) | |||
| Cash dividends paid | (230 | ) | (227 | ) | |||
| Net cash used in financing activities | (795 | ) | (638 | ) | |||
| Increase (decrease) in cash and cash equivalents | (1,522 | ) | 43 | ||||
| Cash and cash equivalents at beginning of period | 6,997 | 6,288 | |||||
| Cash and cash equivalents at end of period | $ | 5,475 | $ | 6,331 | |||
