| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | ||||||||||
| Nine months ended | ||||||||||
| July 31, 2020 | July 31, 2019 | |||||||||
| Cash flows from operating activities: | ||||||||||
| Net earnings | $ | 2,176 | $ | 2,764 | ||||||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||||||||||
| Depreciation and amortization | 593 | 539 | ||||||||
| Stock-based compensation expense | 221 | 233 | ||||||||
| Restructuring and other charges | 431 | 141 | ||||||||
| Deferred taxes on earnings | 146 | 325 | ||||||||
| Other, net | 281 | 176 | ||||||||
| Changes in operating assets and liabilities, net of acquisitions: | ||||||||||
| Accounts receivable | 699 | (22 | ) | |||||||
| Inventory | (247 | ) | (24 | ) | ||||||
| Accounts payable | (433 | ) | (138 | ) | ||||||
| Net investment in leases | (112 | ) | — | |||||||
| Taxes on earnings | (238 | ) | (1,123 | ) | ||||||
| Restructuring and other | (412 | ) | (122 | ) | ||||||
| Other assets and liabilities | (663 | ) | 1,317 | |||||||
| Net cash provided by operating activities | 2,442 | 4,066 | ||||||||
| Cash flows from investing activities: | ||||||||||
| Investment in property, plant and equipment | (464 | ) | (475 | ) | ||||||
| Proceeds from the sale of property, plant and equipment | 3 | — | ||||||||
| Purchases of available-for-sale securities and other investments | (533 | ) | (80 | ) | ||||||
| Maturities and sales of available-for-sale securities and other investments | 303 | 771 | ||||||||
| Collateral posted for derivative instruments | (240 | ) | (32 | ) | ||||||
| Collateral returned for derivative instruments | — | 32 | ||||||||
| Payment made in connection with business acquisitions, net of cash acquired | — | (427 | ) | |||||||
| Net cash used in investing activities | (931 | ) | (211 | ) | ||||||
| Cash flows from financing activities: | ||||||||||
| Payment of short-term borrowings with original maturities less than 90 days, net | — | (856 | ) | |||||||
| Proceed from short-term borrowings with original maturities greater than 90 days | 19 | — | ||||||||
| Proceeds from debt, net of issuance costs | 3,051 | 94 | ||||||||
| Payment of debt | (1,788 | ) | (604 | ) | ||||||
| Stock-based award activities and others | (125 | ) | (58 | ) | ||||||
| Repurchase of common stock | (1,767 | ) | (1,944 | ) | ||||||
| Cash dividends paid | (759 | ) | (734 | ) | ||||||
| Net cash used in financing activities | (1,369 | ) | (4,102 | ) | ||||||
| Increase (decrease) in cash and cash equivalents | 142 | (247 | ) | |||||||
| Cash and cash equivalents at beginning of period | 4,537 | 5,166 | ||||||||
| Cash and cash equivalents at end of period | $ | 4,679 | $ | 4,919 | ||||||
HP Inc. Reports Fiscal 2020 Third Quarter Results
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