| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Three months ended | |||||||
| October 31, 2019 | October 31, 2018 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 388 | $ | 1,451 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 205 | 140 | |||||
| Stock-based compensation expense | 64 | 65 | |||||
| Restructuring and other charges | 134 | 40 | |||||
| Deferred taxes on earnings | (192 | ) | (486 | ) | |||
| Other, net | 78 | 85 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | (739 | ) | (514 | ) | |||
| Inventory | (44 | ) | (15 | ) | |||
| Accounts payable | 85 | 519 | |||||
| Taxes on earnings | 272 | (412 | ) | ||||
| Restructuring and other | (32 | ) | (30 | ) | |||
| Other assets and liabilities | 369 | 125 | |||||
| Net cash provided by operating activities | 588 | 968 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (196 | ) | (187 | ) | |||
| Proceeds from sale of property, plant and equipment | — | 62 | |||||
| Purchases of available-for-sale securities and other investments | — | (47 | ) | ||||
| Maturities and sales of available-for-sale securities and other investments | — | 259 | |||||
| Collateral posted for derivative instruments | — | (24 | ) | ||||
| Collateral returned for derivative instruments | — | 24 | |||||
| Payment made in connection with business acquisitions, net of cash acquired
| (31 | ) | — | ||||
| Net cash (used in) provided by investing activities | (227 | ) | 87 | ||||
| Cash flows from financing activities: | |||||||
| Payment of short-term borrowings with original maturities less than 90 days, net | — | (834 | ) | ||||
| Payment of short-term borrowings with original maturities greater than 90 days | — | (412 | ) | ||||
| Proceeds from debt, net of issuance costs | 33 | — | |||||
| Payment of debt | (76 | ) | (39 | ) | |||
| Stock-based award activities | (3 | ) | 18 | ||||
| Repurchase of common stock | (461 | ) | (598 | ) | |||
| Cash dividends paid | (236 | ) | (219 | ) | |||
| Net cash used in financing activities | (743 | ) | (2,084 | ) | |||
| Decrease in cash and cash equivalents | (382 | ) | (1,029 | ) | |||
| Cash and cash equivalents at beginning of period | 4,919 | 6,195 | |||||
| Cash and cash equivalents at end of period | $ | 4,537 | $ | 5,166 | |||
HP Inc. Reports Fiscal 2019 Full Year and Fourth Quarter Results
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