| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) |
| Three months ended | |||||||
| January 31, 2022 | January 31, 2021 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 1,086 | $ | 1,068 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 197 | 203 | |||||
| Stock-based compensation expense | 133 | 115 | |||||
| Restructuring and other charges | 68 | 121 | |||||
| Deferred taxes on earnings | 5 | 67 | |||||
| Other, net | 186 | 62 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | 337 | 77 | |||||
| Inventory | (1,277 | ) | (725 | ) | |||
| Accounts payable | 2,035 | 280 | |||||
| Net investment in leases | (20 | ) | (17 | ) | |||
| Taxes on earnings | (6 | ) | 70 | ||||
| Restructuring and other | (99 | ) | (69 | ) | |||
| Other assets and liabilities | (988 | ) | (230 | ) | |||
| Net cash provided by operating activities | 1,657 | 1,022 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment, net | (273 | ) | (131 | ) | |||
| Purchases of available-for-sale securities and other investments | — | (1 | ) | ||||
| Maturities and sales of available-for-sale securities and other investments | — | 274 | |||||
| Collateral posted for derivative instruments | 14 | (145 | ) | ||||
| Payment made in connection with business acquisition, net of cash acquired | (21 | ) | — | ||||
| Net cash used in investing activities | (280 | ) | (3 | ) | |||
| Cash flows from financing activities: | |||||||
| Payment of short-term borrowings with original maturities less than 90 days, net | (400 | ) | — | ||||
| Proceed from short-term borrowings with original maturities greater than 90 days | 9 | 6 | |||||
| Proceeds from debt, net of issuance costs | 30 | 20 | |||||
| Payment of debt | (50 | ) | (68 | ) | |||
| Stock-based award activities and others | (92 | ) | (53 | ) | |||
| Repurchase of common stock | (1,508 | ) | (1,378 | ) | |||
| Cash dividends paid | (271 | ) | (250 | ) | |||
| Net cash used in financing activities | (2,282 | ) | (1,723 | ) | |||
| Decrease in cash and cash equivalents | (905 | ) | (704 | ) | |||
| Cash and cash equivalents at beginning of period | 4,299 | 4,864 | |||||
| Cash and cash equivalents at end of period | $ | 3,394 | $ | 4,160 | |||
