| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) (In millions) | |||||||
| Nine months ended | |||||||
| July 31, 2024 | July 31, 2023 | ||||||
| Cash flows from operating activities: | |||||||
| Net earnings | $ | 1,869 | $ | 2,289 | |||
| Adjustments to reconcile net earnings to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 622 | 638 | |||||
| Stock-based compensation expense | 367 | 353 | |||||
| Restructuring and other charges | 180 | 416 | |||||
| Deferred taxes on earnings | 69 | (774 | ) | ||||
| Other, net | (24 | ) | (61 | ) | |||
| Changes in operating assets and liabilities, net of acquisitions: | |||||||
| Accounts receivable | (447 | ) | 180 | ||||
| Inventory | (953 | ) | 364 | ||||
| Accounts payable | 1,442 | (1,133 | ) | ||||
| Net investment in leases from integrated financing | (123 | ) | (82 | ) | |||
| Taxes on earnings | (89 | ) | 354 | ||||
| Restructuring and other | (204 | ) | (244 | ) | |||
| Other assets and liabilities | (583 | ) | (704 | ) | |||
| Net cash provided by operating activities | 2,126 | 1,596 | |||||
| Cash flows from investing activities: | |||||||
| Investment in property, plant and equipment, net | (439 | ) | (459 | ) | |||
| Purchases of available-for-sale securities and other investments | — | (6 | ) | ||||
| Maturities and sales of available-for-sale securities and other investments | — | 18 | |||||
| Collateral posted for derivative instruments | (60 | ) | (118 | ) | |||
| Payment made in connection with business acquisitions, net of cash acquired | (15 | ) | (5 | ) | |||
| Net cash used in investing activities | (514 | ) | (570 | ) | |||
| Cash flows from financing activities: | |||||||
| Proceeds from short-term borrowings with original maturities less than 90 days, net | — | 190 | |||||
| Proceeds from debt, net of issuance costs | 266 | 177 | |||||
| Payment of debt and associated costs | (153 | ) | (1,654 | ) | |||
| Stock-based award activities and others | (67 | ) | (86 | ) | |||
| Repurchase of common stock | (1,200 | ) | (100 | ) | |||
| Cash dividends paid | (812 | ) | (777 | ) | |||
| Collateral returned for derivative instruments | — | (200 | ) | ||||
| Settlement of cash flow hedges | — | (3 | ) | ||||
| Net cash used in financing activities | (1,966 | ) | (2,453 | ) | |||
| Decrease in cash, cash equivalents and restricted cash | (354 | ) | (1,427 | ) | |||
| Cash, cash equivalents and restricted cash at beginning of period | 3,232 | 3,145 | |||||
| Cash, cash equivalents and restricted cash at end of period | $ | 2,878 | $ | 1,718 | |||
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HP Inc. Reports Fiscal 2024 Third Quarter Results
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