| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) (In millions) | |||||||
| As of | |||||||
| April 30, 2018 | October 31, 2017 | ||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 4,247 | $ | 6,997 | |||
| Accounts receivable | 4,605 | 4,414 | |||||
| Inventory | 5,557 | 5,786 | |||||
| Other current assets | 5,024 | 5,121 | |||||
| Total current assets | 19,433 | 22,318 | |||||
| Property, plant and equipment | 2,061 | 1,878 | |||||
| Goodwill | 5,941 | 5,622 | |||||
| Other non-current assets | 4,652 | 3,095 | |||||
| Total assets | $ | 32,087 | $ | 32,913 | |||
| LIABILITIES AND STOCKHOLDERS' DEFICIT | |||||||
| Current liabilities: | |||||||
| Notes payable and short-term borrowings | $ | 1,617 | $ | 1,072 | |||
| Accounts payable | 13,054 | 13,279 | |||||
| Employee compensation and benefits | 897 | 894 | |||||
| Taxes on earnings | 300 | 214 | |||||
| Deferred revenue | 1,062 | 1,012 | |||||
| Other accrued liabilities | 6,197 | 5,941 | |||||
| Total current liabilities | 23,127 | 22,412 | |||||
| Long-term debt | 4,494 | 6,747 | |||||
| Other non-current liabilities | 6,329 | 7,162 | |||||
| Stockholders' deficit | (1,863 | ) | (3,408 | ) | |||
| Total liabilities and stockholders' deficit | $ | 32,087 | $ | 32,913 | |||
| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Three months ended April 30 | |||||||
| 2018 | 2017 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 1,058 | $ | 559 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 127 | 89 | |||||
| Stock-based compensation expense | 63 | 48 | |||||
| Restructuring and other charges | 57 | 140 | |||||
| Deferred taxes on earnings | 397 | 138 | |||||
| Other, net | 185 | 2 | |||||
| Changes in operating assets and liabilities, net of acquisition: | |||||||
| Accounts receivable | (234 | ) | (325 | ) | |||
| Inventory | 86 | (203 | ) | ||||
| Accounts payable | 201 | 142 | |||||
| Taxes on earnings | (1,528 | ) | (102 | ) | |||
| Restructuring and other | (44 | ) | (46 | ) | |||
| Other assets and liabilities | 682 | 13 | |||||
| Net cash provided by operating activities | 1,050 | 455 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (113 | ) | (75 | ) | |||
| Purchases of available-for-sale securities and other investments | (36 | ) | (1 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 206 | — | |||||
| Collateral posted for derivative instruments | (293 | ) | (204 | ) | |||
| Collateral returned for derivative instruments | 857 | 125 | |||||
| Net cash provided by (used in) investing activities | 621 | (155 | ) | ||||
| Cash flows from financing activities: | |||||||
| Proceeds from short-term borrowings with original maturities less than 90 days, net | 943 | 39 | |||||
| Proceeds from short-term borrowings with original maturities greater than 90 days | 100 | — | |||||
| Payment of short-term borrowings with original maturities greater than 90 days | (969 | ) | — | ||||
| Payment of debt | (1,985 | ) | (17 | ) | |||
| Settlement of cash flow hedges | — | (5 | ) | ||||
| Net proceeds related to stock-based award activities | 40 | 22 | |||||
| Repurchase of common stock | (801 | ) | (223 | ) | |||
| Cash dividends paid | (227 | ) | (224 | ) | |||
| Net cash used in financing activities | (2,899 | ) | (408 | ) | |||
| Decrease in cash and cash equivalents | (1,228 | ) | (108 | ) | |||
| Cash and cash equivalents at beginning of period | 5,475 | 6,331 | |||||
| Cash and cash equivalents at end of period | $ | 4,247 | $ | 6,223 | |||
