(a) Pursuant to the adoption of Accounting Standard Update 2015-03 “Simplifying the Presentation of Debt Issuance Costs” in Q1 FY17, debt issuance costs has been reclassified from other non-current assets to long-term debt. The change has been adopted including prior comparative periods.

HP INC. AND SUBSIDIARIES CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions)
			Three months ended July 31
			2017					2016
Cash flows from operating activities:(a)
Net earnings			$	696				$	783
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization			90					85
Stock-based compensation expense			46					39
Restructuring and other charges			46					31
Deferred taxes on earnings			207					378
Other, net			48					(244		)
Changes in operating assets and liabilities:
Accounts receivable			(504		)			(166		)
Inventory			(459		)			(471		)
Accounts payable			1,712					1,301
Taxes on earnings			(68		)			(372		)
Restructuring and other			(58		)			(46		)
Other assets and liabilities			19					(247		)
Net cash provided by operating activities			1,775					1,071
Cash flows from investing activities:
Investment in property, plant and equipment			(61		)			(81		)
Purchases of available-for-sale securities and other investments			(1,421		)			—
Maturities and sales of available-for-sale securities and other investments			—					121
Proceeds from business divestiture			—					99
Net cash (used in) provided by investing activities			(1,482		)			139
Cash flows from financing activities:(a)
Short-term borrowings with original maturities less than 90 days, net			972					33
Payment of debt			(21		)			—
Settlement of cash flow hedges			—					(2		)
Net proceeds related to stock-based award activities			24					28
Repurchase of common stock			(302		)			(57		)
Cash dividends paid			(222		)			(212		)
Net cash provided by (used in) financing activities			451					(210		)
Increase in cash and cash equivalents			744					1,000
Cash and cash equivalents at beginning of period			6,223					4,636
Cash and cash equivalents at end of period			$	6,967				$	5,636

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