| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Three months ended | |||||||
| July 31, 2023 | July 31, 2022 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 766 | $ | 1,122 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 217 | 181 | |||||
| Stock-based compensation expense | 91 | 70 | |||||
| Restructuring and other charges | 75 | 13 | |||||
| Deferred taxes on earnings | 51 | 52 | |||||
| Other, net | (97 | ) | 57 | ||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | (246 | ) | 985 | ||||
| Inventory | (10 | ) | 700 | ||||
| Accounts payable | 801 | (1,472 | ) | ||||
| Net investment in leases | (31 | ) | (53 | ) | |||
| Taxes on earnings | 24 | (117 | ) | ||||
| Restructuring and other | (77 | ) | (39 | ) | |||
| Other assets and liabilities | (588 | ) | (1,105 | ) | |||
| Net cash provided by operating activities | 976 | 394 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (137 | ) | (195 | ) | |||
| Proceeds from the sale of property, plant and equipment | — | 25 | |||||
| Purchases of available-for-sale securities and other investments | (1 | ) | (42 | ) | |||
| Maturities and sales of available-for-sale securities and other investments | — | 1 | |||||
| Collateral returned for derivative instruments | 9 | — | |||||
| Net cash used in investing activities | (129 | ) | (211 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceeds from short-term borrowings with original maturities less than 90 days, net | 200 | — | |||||
| Proceeds from debt, net of issuance costs | 60 | 2,026 | |||||
| Payment of debt and associated costs | (1,067 | ) | (45 | ) | |||
| Stock-based award activities and others | — | 9 | |||||
| Repurchase of common stock | — | (1,029 | ) | ||||
| Cash dividends paid | (259 | ) | (255 | ) | |||
| Settlement of cash flow hedges | (3 | ) | 20 | ||||
| Net cash (used in) provided by financing activities | (1,069 | ) | 726 | ||||
| (Decrease) increase in cash, cash equivalents and restricted cash | (222 | ) | 909 | ||||
| Cash, cash equivalents and restricted cash at beginning of period | 1,940 | 4,477 | |||||
| Cash, cash equivalents and restricted cash at end of period | $ | 1,718 | $ | 5,386 | |||
HP Inc. Reports Fiscal 2023 Third Quarter Results
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