HP Inc. Reports Fiscal 2024 Full Year and Fourth Quarter Results


HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
 
  Twelve months ended
  October 31, 2024  October 31, 2023
Cash flows from operating activities:   
Net earnings$2,775  $3,263 
Adjustments to reconcile net earnings to net cash provided by operating activities:   
Depreciation and amortization 830   850 
Stock-based compensation expense 452   438 
Restructuring and other charges 301   527 
Deferred taxes on earnings (122)  (923)
Other, net (38)  (10)
Changes in operating assets and liabilities, net of acquisitions:   
Accounts receivable (929)  278 
Inventory (852)  668 
Accounts payable 2,840   (1,240)
Net investment in leases from integrated financing   (165 )     (110 )
Taxes on earnings   (24 )     198  
Restructuring and other   (264 )     (310 )
Other assets and liabilities   (1,055 )     (58 )
Net cash provided by operating activities   3,749       3,571  
Cash flows from investing activities:      
Investment in property, plant and equipment, net   (592 )     (593 )
Purchases of available-for-sale securities and other investments   (4 )     (11 )
Maturities and sales of available-for-sale securities and other investments   8       21  
Payment made in connection with business acquisitions, net of cash acquired   (58 )     (7 )
Net cash used in investing activities   (646 )     (590 )
Cash flows from financing activities:      
Payments of short-term borrowings with original maturities less than 90 days, net         (10 )
Proceeds from debt, net of issuance costs   380       255  
Payment of debt and associated costs   (213 )     (1,700 )
Stock-based award activities and others   (74 )     (99 )
Repurchase of common stock   (2,100 )     (100 )
Cash dividends paid   (1,075 )     (1,037 )
Collateral returned for derivative instruments         (200 )
Settlement of cash flow hedges         (3 )
Net cash used in financing activities   (3,082 )     (2,894 )
Increase in cash, cash equivalents and restricted cash   21       87  
Cash, cash equivalents and restricted cash at beginning of period   3,232       3,145  
Cash, cash equivalents and restricted cash at end of period $ 3,253     $ 3,232  

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