| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Three months ended | |||||||
| April 30, 2024 | April 30, 2023 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 607 | $ | 1,054 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 209 | 212 | |||||
| Stock-based compensation expense | 94 | 95 | |||||
| Restructuring and other charges | 71 | 200 | |||||
| Deferred taxes on earnings | 5 | (685 | ) | ||||
| Other, net | 7 | 32 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | (552 | ) | 182 | ||||
| Inventory | (631 | ) | 144 | ||||
| Accounts payable | 1,104 | (202 | ) | ||||
| Net investment in leases | (19 | ) | (35 | ) | |||
| Taxes on earnings | (177 | ) | 110 | ||||
| Restructuring and other | (57 | ) | (75 | ) | |||
| Other assets and liabilities | (80 | ) | (396 | ) | |||
| Net cash provided by operating activities | 581 | 636 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment, net | (119 | ) | (130 | ) | |||
| Purchases of available-for-sale securities and other investments | — | (1 | ) | ||||
| Maturities and sales of available-for-sale securities and other investments | — | 17 | |||||
| Collateral returned for derivative instruments | 70 | 113 | |||||
| Payment made in connection with business acquisition, net of cash acquired | — | (5 | ) | ||||
| Net cash used in investing activities | (49 | ) | (6 | ) | |||
| Cash flows from financing activities: | |||||||
| Payments of short-term borrowings with original maturities less than 90 days, net | (100 | ) | (210 | ) | |||
| Proceeds from debt, net of issuance costs | 94 | 65 | |||||
| Payment of debt | (53 | ) | (48 | ) | |||
| Stock-based award activities and others | (4 | ) | (7 | ) | |||
| Repurchase of common stock | (100 | ) | — | ||||
| Cash dividends paid | (269 | ) | (259 | ) | |||
| Net cash used in financing activities | (432 | ) | (459 | ) | |||
| Increase in cash, cash equivalents and restricted cash | 100 | 171 | |||||
| Cash, cash equivalents and restricted cash at beginning of period | 2,417 | 1,769 | |||||
| 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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