HP Inc. Reports Fiscal 2018 Full Year and Fourth Quarter Results


 
HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
 
  Three months ended October 31,
  2018  2017
Cash flows from operating activities:   
Net earnings$1,451 $660
Adjustments to reconcile net earnings to net cash provided by operating activities:   
Depreciation and amortization140 91
Stock-based compensation expense65 55
Restructuring and other charges40 113
Deferred taxes on earnings(486) (174)
Other, net85 65
Changes in operating assets and liabilities, net of acquisitions:   
Accounts receivable(514) (238)
Inventory(15) (615)
Accounts payable519 423
Taxes on earnings(412) 318
Restructuring and other(30) (78)
Other assets and liabilities125 60
     Net cash provided by operating activities968 680
Cash flows from investing activities:   
Investment in property, plant and equipment(187) (165)
Proceeds from sale of property, plant and equipment62 
Purchases of available-for-sale securities and other investments(47) (362)
Maturities and sales of available-for-sale securities and other investments259 229
Collateral posted for derivative instruments(24) (372)
Collateral returned for derivative instruments24 676
     Net cash provided by investing activities87 6
Cash flows from financing activities:   
Payment of short-term borrowings with original maturities less than 90 days, net(834) (844)
Payment of short-term borrowings with original maturities greater than 90 days(412) 
Proceed from short-term borrowings with original maturities greater than 90 days 887
Payment of debt(39) (22)
Net proceeds related to stock-based award activities18 45
Repurchase of common stock(598) (501)
Cash dividends paid(219) (221)
     Net cash used in financing activities(2,084) (656)
(Decrease) Increase in cash and cash equivalents(1,029) 30
Cash and cash equivalents at beginning of period6,195 6,967
Cash and cash equivalents at end of period$5,166 $6,997
 


 
HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
 
  Twelve months ended October 31,
  2018  2017
Cash flows from operating activities:   
Net earnings$5,327 $2,526
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 528   354
Stock-based compensation expense 268   224
Restructuring and other charges 132   362
Deferred taxes on earnings (3,653)   238
Other, net 319   134
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable (491)   (453)
Inventory (136)   (1,346)
Accounts payable 1,429   2,161
Taxes on earnings 389   73
Restructuring and other (237)   (233)
Other assets and liabilities 653   (363)
     Net cash provided by operating activities 4,528   3,677
Cash flows from investing activities:      
Investment in property, plant and equipment (546)   (402)
Proceeds from sale of property, plant and equipment 172   69
Purchases of available-for-sale securities and other investments (367)   (1,400)
Maturities and sales of available-for-sale securities and other investments 847   231
Collateral posted for derivative instruments (1,165)   (1,170)
Collateral returned for derivative instruments 1,379   955
Payments made in connection with business acquisitions, net of cash acquired (1,036)  
     Net cash used in investing activities (716)   (1,717)
Cash flows from financing activities:      
Proceeds from short-term borrowings with original maturities less than 90 days, net 743   202
Proceeds from short-term borrowings with original maturities greater than 90 days 712   887
Proceeds from debt, net of issuance cost   5
Payment of short-term borrowings with original maturities greater than 90 days (1,596)   (3)
Payment of debt (2,098)   (84)
Settlement of cash flow hedge   (9)
Net proceeds related to stock-based award activities 52   57
Repurchase of common stock (2,557)   (1,412)
Cash dividends paid (899)   (894)
     Net cash used in financing activities (5,643)   (1,251)
(Decrease) Increase in cash and cash equivalents (1,831)   709
Cash and cash equivalents at beginning of period 6,997   6,288
Cash and cash equivalents at end of period $ 5,166   $ 6,997
 

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