HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
| Three months ended | |||||||
| July 31, 2019 | July 31, 2018 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 1,179 | $ | 880 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 190 | 132 | |||||
| Stock-based compensation expense | 60 | 55 | |||||
| Restructuring and other charges | 17 | 4 | |||||
| Deferred taxes on earnings | 207 | 149 | |||||
| Other, net | 63 | 36 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | 81 | (15 | ) | ||||
| Inventory | (386 | ) | (571 | ) | |||
| Accounts payable | 825 | 1,187 | |||||
| Taxes on earnings | (1,123 | ) | (134 | ) | |||
| Restructuring and other | (43 | ) | (30 | ) | |||
| Other assets and liabilities | 1,273 | (179 | ) | ||||
| Net cash provided by operating activities | 2,343 | 1,514 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (172 | ) | (117 | ) | |||
| Purchases of available-for-sale securities and other investments | (11 | ) | (16 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 17 | 243 | |||||
| Collateral posted for derivative instruments | — | (240 | ) | ||||
| Collateral returned for derivative instruments | — | 445 | |||||
| Payment made in connection with business acquisitions, net of cash acquired | (23 | ) | (16 | ) | |||
| Net cash (used in) provided by investing activities | (189 | ) | 299 | ||||
| Cash flows from financing activities: | |||||||
| Proceeds from short-term borrowings with original maturities less than 90 days, net | — | 740 | |||||
| Proceeds from short-term borrowings with original maturities greater than 90 days | — | 412 | |||||
| Proceeds from debt, net of issuance costs | 30 | — | |||||
| Payment of short-term borrowings with original maturities greater than 90 days | — | (97 | ) | ||||
| Payment of debt | (66 | ) | (33 | ) | |||
| Stock-based award activities | 18 | 32 | |||||
| Repurchase of common stock | (533 | ) | (696 | ) | |||
| Cash dividends paid | (240 | ) | (223 | ) | |||
| Net cash (used in) provided by financing activities | (791 | ) | 135 | ||||
| Increase in cash and cash equivalents | 1,363 | 1,948 | |||||
| Cash and cash equivalents at beginning of period | 3,556 | 4,247 | |||||
| Cash and cash equivalents at end of period | $ | 4,919 | $ | 6,195 | |||
