| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Three months ended | |||||||
| July 31, 2022 | July 31, 2021 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 1,119 | $ | 1,108 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 181 | 196 | |||||
| Stock-based compensation expense | 70 | 69 | |||||
| Restructuring and other charges | 13 | 56 | |||||
| Deferred taxes on earnings | 52 | (143 | ) | ||||
| Other, net | 57 | 153 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | 985 | 168 | |||||
| Inventory | 700 | (670 | ) | ||||
| Accounts payable | (1,472 | ) | 625 | ||||
| Net investment in leases | (53 | ) | (40 | ) | |||
| Taxes on earnings | (97 | ) | 118 | ||||
| Restructuring and other | (39 | ) | (51 | ) | |||
| Other assets and liabilities | (1,122 | ) | (496 | ) | |||
| Net cash provided by operating activities | 394 | 1,093 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (195 | ) | (158 | ) | |||
| Proceeds from the sale of property, plant and equipment | 25 | — | |||||
| Purchases of available-for-sale securities and other investments | (42 | ) | (11 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | 1 | 9 | |||||
| Collateral posted for derivative instruments | — | 275 | |||||
| Payment made in connection with business acquisition, net of cash acquired | — | (412 | ) | ||||
| Net cash used in investing activities | (211 | ) | (297 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceeds from debt, net of issuance costs | 2,026 | 2,014 | |||||
| Payment of debt | (45 | ) | (1,066 | ) | |||
| Stock-based award activities and others | 9 | 8 | |||||
| Repurchase of common stock | (1,029 | ) | (1,507 | ) | |||
| Cash dividends paid | (255 | ) | (230 | ) | |||
| Settlement of cash flow hedges | 20 | — | |||||
| Net cash provided by (used in) financing activities | 726 | (781 | ) | ||||
| Increase in cash and cash equivalent | 909 | 15 | |||||
| Cash and cash equivalents at beginning of period | 4,477 | 3,424 | |||||
| Cash and cash equivalents at end of period | $ | 5,386 | $ | 3,439 | |||
HP Inc. Reports Fiscal 2022 Third Quarter Results
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