| HP INC. AND SUBSIDIARIES | |||||||
| CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS | |||||||
| (Unaudited) | |||||||
| (In millions) | |||||||
| Nine months ended July 31, | |||||||
| 2018 | 2017 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 3,876 | $ | 1,866 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 388 | 263 | |||||
| Stock-based compensation expense | 203 | 169 | |||||
| Restructuring and other charges | 92 | 249 | |||||
| Deferred taxes on earnings | (3,167 | ) | 412 | ||||
| Other, net | 234 | 69 | |||||
| Changes in operating assets and liabilities, net of acquisition: | |||||||
| Accounts receivable | 23 | (215 | ) | ||||
| Inventory | (121 | ) | (731 | ) | |||
| Accounts payable | 910 | 1,738 | |||||
| Taxes on earnings | 801 | (245 | ) | ||||
| Restructuring and other | (207 | ) | (155 | ) | |||
| Other assets and liabilities | 528 | (423 | ) | ||||
| Net cash provided by operating activities | 3,560 | 2,997 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (359 | ) | (237 | ) | |||
| Proceeds from sale of property, plant and equipment | 110 | 69 | |||||
| Purchases of available-for-sale securities and other investments | (320 | ) | (1,038 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 588 | 2 | |||||
| Collateral posted for derivative instruments | (1,141 | ) | (798 | ) | |||
| Collateral returned for derivative instruments | 1,355 | 279 | |||||
| Payment made in connection with business acquisition, net of cash acquired | (1,036 | ) | — | ||||
| Net cash used in investing activities | (803 | ) | (1,723 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceeds from short-term borrowings with original maturities less than 90 days, net | 1,577 | 1,046 | |||||
| Proceeds from short-term borrowings with original maturities greater than 90 days | 712 | — | |||||
| Proceeds from debt, net of issuance costs | — | 5 | |||||
| Payment of short-term borrowings with original maturities greater than 90 days | (1,184 | ) | (3 | ) | |||
| Payment of debt | (2,059 | ) | (62 | ) | |||
| Settlement of cash flow hedges | — | (9 | ) | ||||
| Net proceeds related to stock-based award activities | 34 | 12 | |||||
| Repurchase of common stock | (1,959 | ) | (911 | ) | |||
| Cash dividends paid | (680 | ) | (673 | ) | |||
| Net cash used in financing activities | (3,559 | ) | (595 | ) | |||
| (Decrease) / Increase in cash and cash equivalents | (802 | ) | 679 | ||||
| Cash and cash equivalents at beginning of period | 6,997 | 6,288 | |||||
| Cash and cash equivalents at end of period | $ | 6,195 | $ | 6,967 | |||
HP Inc. Reports Fiscal 2018 Third Quarter Results
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