| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Six months ended | |||||||
| April 30, 2022 | April 30, 2021 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 2,086 | $ | 2,296 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 390 | 389 | |||||
| Stock-based compensation expense | 203 | 191 | |||||
| Restructuring and other charges | 150 | 160 | |||||
| Deferred taxes on earnings | (5 | ) | 50 | ||||
| Other, net | 304 | 101 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | 91 | 335 | |||||
| Inventory | (1,270 | ) | (1,555 | ) | |||
| Accounts payable | 981 | 515 | |||||
| Net investment in leases | (41 | ) | (38 | ) | |||
| Taxes on earnings | (23 | ) | (99 | ) | |||
| Restructuring and other | (146 | ) | (115 | ) | |||
| Other assets and liabilities | (555 | ) | 238 | ||||
| Net cash provided by operating activities | 2,165 | 2,468 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (452 | ) | (252 | ) | |||
| Proceeds from the sale of property, plant and equipment | 1 | — | |||||
| Purchases of available-for-sale securities and other investments | (8 | ) | (13 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 7 | 274 | |||||
| Collateral posted for derivative instruments | 14 | (154 | ) | ||||
| Payment made in connection with business acquisitions, net of cash acquired | (24 | ) | (170 | ) | |||
| Net cash used in investing activities | (462 | ) | (315 | ) | |||
| Cash flows from financing activities: | |||||||
| Payment of short-term borrowings with original maturities less than 90 days, net | (400 | ) | — | ||||
| Proceeds from debt, net of issuance costs | 2,060 | 60 | |||||
| Payment of debt | (96 | ) | (126 | ) | |||
| Stock-based award activities and others | (97 | ) | (50 | ) | |||
| Repurchase of common stock | (2,518 | ) | (2,988 | ) | |||
| Cash dividends paid | (533 | ) | (489 | ) | |||
| Settlement of cash flow hedges | 59 | — | |||||
| Net cash used in financing activities | (1,525 | ) | (3,593 | ) | |||
| Increase (decrease) in cash and cash equivalents | 178 | (1,440 | ) | ||||
| Cash and cash equivalents at beginning of period | 4,299 | 4,864 | |||||
| Cash and cash equivalents at end of period | $ | 4,477 | $ | 3,424 | |||
HP Inc. Reports Fiscal 2022 Second Quarter Results
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