HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
Three months ended | |||||||
January 31, 2021 | January 31, 2020 | ||||||
Cash flows from operating activities: | |||||||
Net earnings | $ | 1,068 | $ | 678 | |||
Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
Depreciation and amortization | 203 | 198 | |||||
Stock-based compensation expense | 115 | 109 | |||||
Restructuring and other charges | 121 | 291 | |||||
Deferred taxes on earnings | 67 | 117 | |||||
Other, net | 62 | 54 | |||||
Changes in operating assets and liabilities, net of acquisitions: | |||||||
Accounts receivable | 77 | 1,167 | |||||
Inventory | (725) | 761 | |||||
Accounts payable | 280 | (1,919) | |||||
Net investment in leases | (17) | (34) | |||||
Taxes on earnings | 70 | (27) | |||||
Restructuring and other | (69) | (109) | |||||
Other assets and liabilities | (230) | (1) | |||||
Net cash provided by operating activities | 1,022 | 1,285 | |||||
Cash flows from investing activities: | |||||||
Investment in property, plant and equipment | (131) | (198) | |||||
Purchases of available-for-sale securities and other investments | (1) | (311) | |||||
Maturities and sales of available-for-sale securities and other investments | 274 | 11 | |||||
Collateral posted for derivative instruments | (145) | — | |||||
Net cash used in investing activities | (3) | (498) | |||||
Cash flows from financing activities: | |||||||
Proceed from short-term borrowings with original maturities greater than 90 days | 6 | 2 | |||||
Proceeds from debt, net of issuance costs | 20 | 9 | |||||
Payment of debt | (68) | (67) | |||||
Stock-based award activities and others | (53) | (116) | |||||
Repurchase of common stock | (1,378) | (691) | |||||
Cash dividends paid | (250) | (256) | |||||
Net cash used in financing activities | (1,723) | (1,119) | |||||
Decrease in cash and cash equivalent | (704) | (332) | |||||
Cash and cash equivalents at beginning of period | 4,864 | 4,537 | |||||
Cash and cash equivalents at end of period | $ | 4,160 | $ | 4,205 |