HP Inc. Reports Fiscal 2019 Full Year and Fourth Quarter Results



 
HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
  
  Twelve months ended
  October 31, 2019  October 31, 2018
Cash flows from operating activities:   
Net earnings$3,152  $5,327 
Adjustments to reconcile net earnings to net cash provided by operating activities:   
Depreciation and amortization744  528 
Stock-based compensation expense297  268 
Restructuring and other charges275  132 
Deferred taxes on earnings133  (3,653)
Other, net254  319 
Changes in operating assets and liabilities, net of acquisitions:   
Accounts receivable(761) (491)
Inventory(68) (136)
Accounts payable(53) 1,429 
Taxes on earnings(851) 389 
Restructuring and other (154 )   (237 )
Other assets and liabilities 1,686     653  
   Net cash provided by operating activities 4,654     4,528  
Cash flows from investing activities:      
Investment in property, plant and equipment (671 )   (546 )
Proceeds from sale of property, plant and equipment     172  
Purchases of available-for-sale securities and other investments (80 )   (367 )
Maturities and sales of available-for-sale securities and other investments 771     847  
Collateral posted for derivative instruments (32 )   (1,165 )
Collateral returned for derivative instruments 32     1,379  
Payments made in connection with business acquisitions, net of cash acquired (458 )   (1,036 )
   Net cash used in investing activities (438 )   (716 )
Cash flows from financing activities:      
(Payment of) Proceeds from short-term borrowings with original maturities less than 90 days, net (856 )   743  
Proceeds from short-term borrowings with original maturities greater than 90 days     712  
Proceeds from debt, net of issuance cost 127      
Payment of short-term borrowings with original maturities greater than 90 days     (1,596 )
Payment of debt (680 )   (2,098 )
Stock-based award activities (61 )   52  
Repurchase of common stock (2,405 )   (2,557 )
Cash dividends paid (970 )   (899 )
   Net cash used in financing activities (4,845 )   (5,643 )
Decrease in cash and cash equivalents (629 )   (1,831 )
Cash and cash equivalents at beginning of period 5,166     6,997  
Cash and cash equivalents at end of period $ 4,537     $ 5,166  
               

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