HPE Reports Fiscal 2018 Full-Year and Fourth Quarter Results

HEWLETT PACKARD ENTERPRISE COMPANY AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (In millions)

	Three months ended October 31, 2018			Twelve months ended October 31, 2018
Cash flows from operating activities:
Net (loss) earnings	$	(757	)	$	1,908
Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:
Depreciation and amortization	645			2,576
Impairment of goodwill	88			88
Stock-based compensation expense	44			286
Provision for doubtful accounts and inventory	61			198
Restructuring charges	151			550
Deferred taxes on earnings	3,444			2,229
(Earnings) loss from equity interests	(15		)	(38		)
Dividends received from equity investees	117			164
Other, net	(213		)	(158		)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(357		)	(220		)
Financing receivables	(138		)	(366		)
Inventory	285			(260		)
Accounts payable	(99		)	(27		)
Taxes on earnings	(2,245		)	(4,516		)
Restructuring	(107		)	(647		)
Other assets and liabilities	422			1,197
Net cash provided by operating activities	1,326			2,964
Cash flows from investing activities:
Investment in property, plant and equipment	(827		)	(2,956		)
Proceeds from sale of property, plant and equipment	533			1,094
Purchases of available-for-sale securities and other investments	(1		)	(33		)
Maturities and sales of available-for-sale securities and other investments	2			98
Financial collateral posted	(229		)	(1,547		)
Financial collateral returned	134			1,467
Payments made in connection with business acquisitions, net of cash acquired	—			(207		)
Proceeds from business divestitures, net	—			13
Net cash used in investing activities	(388		)	(2,071		)
Cash flows from financing activities:
Short-term borrowings with original maturities less than 90 days, net	(79		)	5
Proceeds from debt, net of issuance costs	1,563			2,457
Payment of debt	(1,600		)	(4,138		)
Net proceeds related to stock-based award activities	12			116
Repurchase of common stock	(983		)	(3,568		)
Net transfer of cash and cash equivalents to Everett	—			(41		)
Net transfer of cash and cash equivalents from Seattle	—			156
Cash dividends paid to non-controlling interests	—			(9		)
Cash dividends paid	(164		)	(570		)
Net cash used in financing activities	(1,251		)	(5,592		)
Decrease in cash and cash equivalents	(313		)	(4,699		)
Cash and cash equivalents at beginning of period	5,193			9,579
Cash and cash equivalents at end of period	$	4,880		$	4,880

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