| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | ||||||||||
| Nine months ended | ||||||||||
| July 31, 2022 | July 31, 2021 | |||||||||
| Cash flows from operating activities: | ||||||||||
| Net earnings | $ | 3,205 | $ | 3,404 | ||||||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||||||||||
| Depreciation and amortization | 571 | 585 | ||||||||
| Stock-based compensation expense | 273 | 260 | ||||||||
| Restructuring and other charges | 163 | 216 | ||||||||
| Deferred taxes on earnings | 47 | (93 | ) | |||||||
| Other, net | 361 | 254 | ||||||||
| Changes in operating assets and liabilities, net of acquisitions: | ||||||||||
| Accounts receivable | 1,076 | 503 | ||||||||
| Inventory | (570 | ) | (2,225 | ) | ||||||
| Accounts payable | (491 | ) | 1,140 | |||||||
| Net investment in leases | (94 | ) | (78 | ) | ||||||
| Taxes on earnings | (120 | ) | 19 | |||||||
| Restructuring and other | (185 | ) | (166 | ) | ||||||
| Other assets and liabilities | (1,677 | ) | (258 | ) | ||||||
| Net cash provided by operating activities | 2,559 | 3,561 | ||||||||
| Cash flows from investing activities: | ||||||||||
| Investment in property, plant and equipment | (647 | ) | (410 | ) | ||||||
| Proceeds from the sale of property, plant and equipment | 26 | — | ||||||||
| Purchases of available-for-sale securities and other investments | (50 | ) | (24 | ) | ||||||
| Maturities and sales of available-for-sale securities and other investments | 8 | 283 | ||||||||
| Collateral posted for derivative instruments | 14 | 121 | ||||||||
| Payment made in connection with business acquisitions, net of cash acquired | (24 | ) | (582 | ) | ||||||
| Net cash used in investing activities | (673 | ) | (612 | ) | ||||||
| Cash flows from financing activities: | ||||||||||
| Payment of short-term borrowings with original maturities less than 90 days, net | (400 | ) | — | |||||||
| Proceeds from debt, net of issuance costs | 4,086 | 2,074 | ||||||||
| Payment of debt | (141 | ) | (1,192 | ) | ||||||
| Stock-based award activities and others | (88 | ) | (42 | ) | ||||||
| Repurchase of common stock | (3,547 | ) | (4,495 | ) | ||||||
| Cash dividends paid | (788 | ) | (719 | ) | ||||||
| Settlement of cash flow hedges | 79 | — | ||||||||
| Net cash used in financing activities | (799 | ) | (4,374 | ) | ||||||
| Increase (decrease) in cash and cash equivalent | 1,087 | (1,425 | ) | |||||||
| Cash and cash equivalents at beginning of period | 4,299 | 4,864 | ||||||||
| Cash and cash equivalents at end of period | $ | 5,386 | $ | 3,439 | ||||||
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HP Inc. Reports Fiscal 2022 Third Quarter Results
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