HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
| Nine months ended | |||||||
| July 31, 2019 | July 31, 2018 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 2,764 | $ | 3,876 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 539 | 388 | |||||
| Stock-based compensation expense | 233 | 203 | |||||
| Restructuring and other charges | 141 | 92 | |||||
| Deferred taxes on earnings | 325 | (3,167 | ) | ||||
| Other, net | 176 | 234 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | (22 | ) | 23 | ||||
| Inventory | (24 | ) | (121 | ) | |||
| Accounts payable | (138 | ) | 910 | ||||
| Taxes on earnings | (1,123 | ) | 801 | ||||
| Restructuring and other | (122 | ) | (207 | ) | |||
| Other assets and liabilities | 1,317 | 528 | |||||
| Net cash provided by operating activities | 4,066 | 3,560 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (475 | ) | (359 | ) | |||
| Proceeds from sale of property, plant and equipment | — | 110 | |||||
| Purchases of available-for-sale securities and other investments | (80 | ) | (320 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 771 | 588 | |||||
| Collateral posted for derivative instruments | (32 | ) | (1,141 | ) | |||
| Collateral returned for derivative instruments | 32 | 1,355 | |||||
| Payments made in connection with business acquisitions, net of cash acquired | (427 | ) | (1,036 | ) | |||
| Net cash used in investing activities | (211 | ) | (803 | ) | |||
| Cash flows from financing activities: | |||||||
| (Payments of) Proceeds from short-term borrowings with original maturities less than 90 days, net | (856 | ) | 1,577 | ||||
| Proceeds from short-term borrowings with original maturities greater than 90 days | — | 712 | |||||
| Proceeds from debt, net of issuance costs | 94 | — | |||||
| Payment of short-term borrowings with original maturities greater than 90 days | — | (1,184 | ) | ||||
| Payment of debt | (604 | ) | (2,059 | ) | |||
| Stock-based award activities | (58 | ) | 34 | ||||
| Repurchase of common stock | (1,944 | ) | (1,959 | ) | |||
| Cash dividends paid | (734 | ) | (680 | ) | |||
| Net cash used in financing activities | (4,102 | ) | (3,559 | ) | |||
| Decrease in cash and cash equivalents | (247 | ) | (802 | ) | |||
| Cash and cash equivalents at beginning of period | 5,166 | 6,997 | |||||
| Cash and cash equivalents at end of period | $ | 4,919 | $ | 6,195 | |||
