| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Three months ended | |||||||
| April 30, 2020 | April 30, 2019 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 764 | $ | 782 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 198 | 181 | |||||
| Stock-based compensation expense | 63 | 66 | |||||
| Restructuring and other charges | 81 | 69 | |||||
| Deferred taxes on earnings | (3 | ) | 15 | ||||
| Other, net | 99 | 118 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | (311 | ) | (314 | ) | |||
| Inventory | (1,406 | ) | 171 | ||||
| Accounts payable | 1,401 | (779 | ) | ||||
| Net investment in leases | (51 | ) | — | ||||
| Taxes on earnings | (122 | ) | (11 | ) | |||
| Restructuring and other | (228 | ) | (33 | ) | |||
| Other assets and liabilities | (995 | ) | 596 | ||||
| Net cash (used in) provided by operating activities | (510 | ) | 861 | ||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (149 | ) | (114 | ) | |||
| Proceeds from the sale of property, plant and equipment | 3 | — | |||||
| Purchases of available-for-sale securities and other investments | (3 | ) | — | ||||
| Maturities and sales of available-for-sale securities and other investments | 292 | 410 | |||||
| Collateral posted for derivative instruments | — | (2 | ) | ||||
| Collateral returned for derivative instruments | — | 2 | |||||
| Payment made in connection with business acquisition, net of cash acquired | (25 | ) | — | ||||
| Net cash provided by investing activities | 118 | 296 | |||||
| Cash flows from financing activities: | |||||||
| Proceeds from (Payment of) short-term borrowings with original maturities less than 90 days, net | 613 | (1 | ) | ||||
| Proceed from short-term borrowings with original maturities greater than 90 days | 9 | — | |||||
| Proceeds from debt, net of issuance costs | 49 | 24 | |||||
| Payment of debt | (59 | ) | (62 | ) | |||
| Stock-based award activities | 4 | 7 | |||||
| Repurchase of common stock | (123 | ) | (691 | ) | |||
| Cash dividends paid | (252 | ) | (245 | ) | |||
| Net cash provided by (used in) financing activities | 241 | (968 | ) | ||||
| (Decrease) Increase in cash and cash equivalents | (151 | ) | 189 | ||||
| Cash and cash equivalents at beginning of period | 4,205 | 3,367 | |||||
| Cash and cash equivalents at end of period | $ | 4,054 | $ | 3,556 | |||
