| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Six months ended April 30, | |||||||
| 2018 | 2017 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 2,996 | $ | 1,170 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 256 | 173 | |||||
| Stock-based compensation expense | 148 | 123 | |||||
| Restructuring and other charges | 88 | 203 | |||||
| Deferred taxes on earnings | (3,316 | ) | 205 | ||||
| Other, net | 198 | 21 | |||||
| Changes in operating assets and liabilities, net of acquisition: | |||||||
| Accounts receivable | 38 | 289 | |||||
| Inventory | 450 | (272 | ) | ||||
| Accounts payable | (277 | ) | 26 | ||||
| Taxes on earnings | 935 | (177 | ) | ||||
| Restructuring and other | (177 | ) | (97 | ) | |||
| Other assets and liabilities | 707 | (442 | ) | ||||
| Net cash provided by operating activities | 2,046 | 1,222 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (242 | ) | (176 | ) | |||
| Proceeds from sale of property, plant and equipment | 110 | 69 | |||||
| Purchases of available-for-sale securities and other investments | (304 | ) | (3 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 345 | 2 | |||||
| Collateral posted for derivative instruments | (901 | ) | (258 | ) | |||
| Collateral returned for derivative instruments | 910 | 125 | |||||
| Payment made in connection with business acquisition, net of cash acquired | (1,020 | ) | — | ||||
| Net cash used in investing activities | (1,102 | ) | (241 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceeds from short-term borrowings with original maturities less than 90 days, net | 837 | 74 | |||||
| Proceeds from short-term borrowings with original maturities greater than 90 days | 300 | — | |||||
| Proceeds from debt, net of issuance costs | — | 5 | |||||
| Payment of short-term borrowings with original maturities greater than 90 days | (1,087 | ) | (3 | ) | |||
| Payment of debt | (2,026 | ) | (41 | ) | |||
| Settlement of cash flow hedges | — | (9 | ) | ||||
| Net proceeds (payments) related to stock-based award activities | 2 | (12 | ) | ||||
| Repurchase of common stock | (1,263 | ) | (609 | ) | |||
| Cash dividends paid | (457 | ) | (451 | ) | |||
| Net cash used in financing activities | (3,694 | ) | (1,046 | ) | |||
| Decrease in cash and cash equivalents | (2,750 | ) | (65 | ) | |||
| Cash and cash equivalents at beginning of period | 6,997 | 6,288 | |||||
| Cash and cash equivalents at end of period | $ | 4,247 | $ | 6,223 | |||
HP Inc. Reports Fiscal 2018 Second Quarter Results
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