HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
Three months ended | |||||||
April 30, 2023 | April 30, 2022 | ||||||
Cash flows from operating activities: | |||||||
Net earnings | $ | 1,066 | $ | 1,000 | |||
Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
Depreciation and amortization | 212 | 193 | |||||
Stock-based compensation expense | 95 | 70 | |||||
Restructuring and other charges | 200 | 82 | |||||
Deferred taxes on earnings | (681 | ) | (10 | ) | |||
Other, net | 32 | 118 | |||||
Changes in operating assets and liabilities, net of acquisitions: | |||||||
Accounts receivable | 182 | (246 | ) | ||||
Inventory | 136 | 7 | |||||
Accounts payable | (202 | ) | (1,054 | ) | |||
Net investment in leases | (35 | ) | (21 | ) | |||
Taxes on earnings | 109 | (17 | ) | ||||
Restructuring and other | (75 | ) | (47 | ) | |||
Other assets and liabilities | (403 | ) | 433 | ||||
Net cash provided by operating activities | 636 | 508 | |||||
Cash flows from investing activities: | |||||||
Investment in property, plant and equipment, net | (130 | ) | (178 | ) | |||
Purchases of available-for-sale securities and other investments | (1 | ) | (8 | ) | |||
Maturities and sales of available-for-sale securities and other investments | 17 | 7 | |||||
Collateral returned for derivative instruments | 113 | — | |||||
Payment made in connection with business acquisition, net of cash acquired | (5 | ) | (3 | ) | |||
Net cash used in investing activities | (6 | ) | (182 | ) | |||
Cash flows from financing activities: | |||||||
Payment of short-term borrowings with original maturities less than 90 days, net | (210 | ) | — | ||||
Proceeds from debt, net of issuance costs | 65 | 2,021 | |||||
Payment of debt | (48 | ) | (46 | ) | |||
Stock-based award activities and others | (7 | ) | (5 | ) | |||
Repurchase of common stock | — | (1,010 | ) | ||||
Cash dividends paid | (259 | ) | (262 | ) | |||
Settlement of cash flow hedges | — | 59 | |||||
Net cash (used in) provided by financing activities | (459 | ) | 757 | ||||
Increase in cash, cash equivalents and restricted cash | 171 | 1,083 | |||||
Cash, cash equivalents and restricted cash at beginning of period | 1,769 | 3,394 | |||||
Cash, cash equivalents and restricted cash at end of period | $ | 1,940 | $ | 4,477 |