HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
| Three months ended | |||||||
| April 30, 2021 | April 30, 2020 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 1,228 | $ | 764 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 186 | 198 | |||||
| Stock-based compensation expense | 76 | 63 | |||||
| Restructuring and other charges | 39 | 81 | |||||
| Deferred taxes on earnings | (17) | (3) | |||||
| Other, net | 39 | 99 | |||||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | 258 | (311) | |||||
| Inventory | (830) | (1,406) | |||||
| Accounts payable | 235 | 1,401 | |||||
| Net investment in leases | (21) | (51) | |||||
| Taxes on earnings | (169) | (122) | |||||
| Restructuring and other | (46) | (228) | |||||
| Other assets and liabilities | 468 | (995) | |||||
| Net cash provided by (used in) operating activities | 1,446 | (510) | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment | (121) | (149) | |||||
| Proceeds from the sale of property, plant and equipment | — | 3 | |||||
| Purchases of available-for-sale securities and other investments | (12) | (3) | |||||
| Maturities and sales of available-for-sale securities and other investments | — | 292 | |||||
| Collateral posted for derivative instruments | (9) | — | |||||
| Payment made in connection with business acquisition, net of cash acquired | (170) | (25) | |||||
| Net cash (used in) provided by investing activities | (312) | 118 | |||||
| Cash flows from financing activities: | |||||||
| Proceeds from short-term borrowings with original maturities less than 90 days, net | — | 613 | |||||
| Proceed from short-term borrowings with original maturities greater than 90 days | 6 | 9 | |||||
| Proceeds from debt, net of issuance costs | 28 | 49 | |||||
| Payment of debt | (58) | (59) | |||||
| Stock-based award activities and other | 3 | 4 | |||||
| Repurchase of common stock | (1,610) | (123) | |||||
| Cash dividends paid | (239) | (252) | |||||
| Net cash (used in) provided by financing activities | (1,870) | 241 | |||||
| Decrease in cash and cash equivalent | (736) | (151) | |||||
| Cash and cash equivalents at beginning of period | 4,160 | 4,205 | |||||
| Cash and cash equivalents at end of period | $ | 3,424 | $ | 4,054 | |||
