HP Inc. Reports Fiscal 2018 Second Quarter Results

HP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) (In millions)

	As of
	April 30, 2018			October 31, 2017
ASSETS
Current assets:
Cash and cash equivalents	$	4,247		$	6,997
Accounts receivable	4,605			4,414
Inventory	5,557			5,786
Other current assets	5,024			5,121
Total current assets	19,433			22,318
Property, plant and equipment	2,061			1,878
Goodwill	5,941			5,622
Other non-current assets	4,652			3,095
Total assets	$	32,087		$	32,913

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Notes payable and short-term borrowings	$	1,617		$	1,072
Accounts payable	13,054			13,279
Employee compensation and benefits	897			894
Taxes on earnings	300			214
Deferred revenue	1,062			1,012
Other accrued liabilities	6,197			5,941
Total current liabilities	23,127			22,412
Long-term debt	4,494			6,747
Other non-current liabilities	6,329			7,162
Stockholders' deficit	(1,863		)	(3,408		)
Total liabilities and stockholders' deficit	$	32,087		$	32,913


HP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions)

	Three months ended April 30
	2018			2017
Cash flows from operating activities:
Net earnings	$	1,058		$	559
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	127			89
Stock-based compensation expense	63			48
Restructuring and other charges	57			140
Deferred taxes on earnings	397			138
Other, net	185			2
Changes in operating assets and liabilities, net of acquisition:
Accounts receivable	(234		)	(325		)
Inventory	86			(203		)
Accounts payable	201			142
Taxes on earnings	(1,528		)	(102		)
Restructuring and other	(44		)	(46		)
Other assets and liabilities	682			13
Net cash provided by operating activities	1,050			455
Cash flows from investing activities:
Investment in property, plant and equipment	(113		)	(75		)
Purchases of available-for-sale securities and other investments	(36		)	(1		)
Maturities and sales of available-for-sale securities and other investments	206			—
Collateral posted for derivative instruments	(293		)	(204		)
Collateral returned for derivative instruments	857			125
Net cash provided by (used in) investing activities	621			(155		)
Cash flows from financing activities:
Proceeds from short-term borrowings with original maturities less than 90 days, net	943			39
Proceeds from short-term borrowings with original maturities greater than 90 days	100			—
Payment of short-term borrowings with original maturities greater than 90 days	(969		)	—
Payment of debt	(1,985		)	(17		)
Settlement of cash flow hedges	—			(5		)
Net proceeds related to stock-based award activities	40			22
Repurchase of common stock	(801		)	(223		)
Cash dividends paid	(227		)	(224		)
Net cash used in financing activities	(2,899		)	(408		)
Decrease in cash and cash equivalents	(1,228		)	(108		)
Cash and cash equivalents at beginning of period	5,475			6,331
Cash and cash equivalents at end of period	$	4,247		$	6,223

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 Next Page »