| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Three months ended | |||||||
| April 30, 2022 | April 30, 2021 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 1,000 | $ | 1,228 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 193 | 186 | |||||
| Stock-based compensation expense | 70 | 76 | |||||
| Restructuring and other charges | 82 | 39 | |||||
| Deferred taxes on earnings | (10 | ) | (17 | ) | |||
| Other, net | 118 | 39 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | (246 | ) | 258 | ||||
| Inventory | 7 | (830 | ) | ||||
| Accounts payable | (1,054 | ) | 235 | ||||
| Net investment in leases | (21 | ) | (21 | ) | |||
| Taxes on earnings | (17 | ) | (169 | ) | |||
| Restructuring and other | (47 | ) | (46 | ) | |||
| Other assets and liabilities | 433 | 468 | |||||
| Net cash provided by operating activities | 508 | 1,446 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (178 | ) | (121 | ) | |||
| Purchases of available-for-sale securities and other investments | (8 | ) | (12 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 7 | — | |||||
| Collateral posted for derivative instruments | — | (9 | ) | ||||
| Payment made in connection with business acquisition, net of cash acquired | (3 | ) | (170 | ) | |||
| Net cash used in investing activities | (182 | ) | (312 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceeds from debt, net of issuance costs | 2,021 | 34 | |||||
| Payment of debt | (46 | ) | (58 | ) | |||
| Stock-based award activities and others | (5 | ) | 3 | ||||
| Repurchase of common stock | (1,010 | ) | (1,610 | ) | |||
| Cash dividends paid | (262 | ) | (239 | ) | |||
| Settlement of cash flow hedges | 59 | — | |||||
| Net cash provided by (used in) financing activities | 757 | (1,870 | ) | ||||
| Increase (decrease) in cash and cash equivalents | 1,083 | (736 | ) | ||||
| Cash and cash equivalents at beginning of period | 3,394 | 4,160 | |||||
| Cash and cash equivalents at end of period
| $ | 4,477 | $ | 3,424 | |||
HP Inc. Reports Fiscal 2022 Second Quarter Results
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