| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | ||||||
| Three months ended | ||||||
| October 31, 2023 | October 31, 2022 | |||||
| Cash flows from operating activities: | ||||||
| Net earnings (loss) | $ | 974 | $ | (23) | ||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||||||
| Depreciation and amortization | 212 | 209 | ||||
| Stock-based compensation expense | 85 | 70 | ||||
| Restructuring and other charges | 111 | 70 | ||||
| Deferred taxes on earnings | (149) | 527 | ||||
| Other, net | 51 | 114 | ||||
| Changes in operating assets and liabilities, net of acquisitions: | ||||||
| Accounts receivable | 98 | 184 | ||||
| Inventory | 304 | 784 | ||||
| Accounts payable | (107) | (418) | ||||
| Net investment in leases | (28) | (61) | ||||
| Taxes on earnings | (156) | 32 | ||||
| Restructuring and other | (66) | (60) | ||||
| Other assets and liabilities | 646 | 476 | ||||
| Net cash provided by operating activities | 1,975 | 1,904 | ||||
| Cash flows from investing activities: | ||||||
| Investment in property, plant and equipment | (150) | (144) | ||||
| Proceeds from sale of property, plant and equipment | 16 | — | ||||
| Purchases of available-for-sale securities and other investments | (5) | (2) | ||||
| Maturities and sales of available-for-sale securities and other investments | 3 | 1 | ||||
| Collateral returned for derivative instruments | 118 | — | ||||
| Payment made in connection with business acquisition, net of cash acquired | (2) | (2,731) | ||||
| Net cash used in investing activities | (20) | (2,876) | ||||
| Cash flows from financing activities: | ||||||
| Payment of short-term borrowings with original maturities less than 90 days, net | (200) | — | ||||
| Proceeds from debt, net of issuance costs | 78 | 89 | ||||
| Payment of debt and associated costs | (46) | (552) | ||||
| Stock-based award activities and others | (14) | (7) | ||||
| Repurchase of common stock | — | (750) | ||||
| Cash dividends paid | (259) | (249) | ||||
| Collateral withdrawn for derivative instruments | — | 200 | ||||
| Net cash used in financing activities | (441) | (1,269) | ||||
| Increase (decrease) in cash, cash equivalents and restricted cash | 1,514 | (2,241) | ||||
| Cash, cash equivalents and restricted cash at beginning of period | 1,718 | 5,386 | ||||
| Cash, cash equivalents and restricted cash at end of period | $ | 3,232 | $ | 3,145 | ||
HP Inc. Reports Fiscal 2023 Full Year and Fourth Quarter Results
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