| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Six months ended | |||||||
| April 30, 2024 | April 30, 2023 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 1,229 | $ | 1,523 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 414 | 421 | |||||
| Stock-based compensation expense | 271 | 262 | |||||
| Restructuring and other charges | 134 | 341 | |||||
| Deferred taxes on earnings | — | (825 | ) | ||||
| Other, net | (13 | ) | 36 | ||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | (106 | ) | 426 | ||||
| Inventory | (678 | ) | 374 | ||||
| Accounts payable | 360 | (1,933 | ) | ||||
| Net investment in leases | (81 | ) | (51 | ) | |||
| Taxes on earnings | (128 | ) | 330 | ||||
| Restructuring and other | (144 | ) | (167 | ) | |||
| Other assets and liabilities | (556 | ) | (117 | ) | |||
| Net cash provided by operating activities | 702 | 620 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment, net | (277 | ) | (322 | ) | |||
| Purchases of available-for-sale securities and other investments | — | (5 | ) | ||||
| Maturities and sales of available-for-sale securities and other investments | — | 18 | |||||
| Collateral posted for derivative instruments | — | (127 | ) | ||||
| Payment made in connection with business acquisitions, net of cash acquired | — | (5 | ) | ||||
| Net cash used in investing activities | (277 | ) | (441 | ) | |||
| Cash flows from financing activities: | |||||||
| Payment of short-term borrowings with original maturities less than 90 days, net | — | (10 | ) | ||||
| Proceeds from debt, net of issuance costs | 186 | 117 | |||||
| Payment of debt | (102 | ) | (587 | ) | |||
| Stock-based award activities and others | (80 | ) | (86 | ) | |||
| Repurchase of common stock | (600 | ) | (100 | ) | |||
| Cash dividends paid | (544 | ) | (518 | ) | |||
| Collateral returned for derivative instruments | — | (200 | ) | ||||
| Net cash used in financing activities | (1,140 | ) | (1,384 | ) | |||
| Decrease in cash, cash equivalents and restricted cash | (715 | ) | (1,205 | ) | |||
| Cash, cash equivalents and restricted cash at beginning of period | 3,232 | 3,145 | |||||
| Cash, cash equivalents and restricted cash at end of period | $ | 2,517 | $ | 1,940 | |||
HP Inc. Reports Fiscal 2024 Second Quarter Results
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