HP 2015 Annual Report Download - page 94

Table of Contents
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The accompanying notes are an integral part of these Consolidated Financial Statements.
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     
   
Cash flows from operating activities:
Net earnings $ 4,554 $ 5,013 $ 5,113
Adjustments to reconcile net earnings to net cash provided by operating
activities:
Depreciation and amortization 4,061 4,334 4,611
Stock-based compensation expense 709 560 500
Provision for doubtful accounts 71 55 61
Provision for inventory 305 211 275
Restructuring charges 1,017 1,619 990
Deferred taxes on earnings (700) (34) (410)
Excess tax benefit from stock-based compensation (145) (58) (2)
Other, net 1,031 81 443
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable 572 2,017 530
Financing receivables (65) 420 484
Inventory (330) (580) (4)
Accounts payable 31 1,912 541
Taxes on earnings (137) 310 417
Restructuring (1,243) (1,506) (904)
Other assets and liabilities (3,241) (2,021) (1,037)
Net cash provided by operating activities 6,490 12,333 11,608
Cash flows from investing activities:
Investment in property, plant and equipment (3,603) (3,853) (3,199)
Proceeds from sale of property, plant and equipment 424 843 653
Purchases of available-for-sale securities and other investments (259) (1,086) (1,243)
Maturities and sales of available-for-sale securities and other investments 302 1,347 1,153
Payments made in connection with business acquisitions, net of cash acquired (2,644) (49) (167)
Proceeds from business divestitures, net 246 6 —
Net cash used in investing activities (5,534) (2,792) (2,803)
Cash flows from financing activities:
Short-term borrowings with original maturities less than 90 days, net 74 148 (154)
Proceeds from debt, net of issuance costs 20,758 2,875 279
Payment of debt (15,867) (6,037) (5,721)
Settlement of cash flow hedges (4) — —
Issuance of common stock under employee stock plans 371 297 288
Repurchase of common stock (2,883) (2,728) (1,532)
Excess tax benefit from stock-based compensation 145 58 2
Cash dividends paid (1,250) (1,184) (1,105)
Net cash provided by (used in) financing activities 1,344 (6,571) (7,943)
Increase in cash and cash equivalents 2,300 2,970 862
Cash and cash equivalents at beginning of period 15,133 12,163 11,301
Cash and cash equivalents at end of period $ 17,433 $ 15,133 $ 12,163
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Income taxes paid, net of refunds $ 1,012 $ 1,267 $ 1,391
Interest expense paid 532 678 837
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Purchase of assets under capital leases $ 70 $ 113 $ 3
Stock awards assumed in business acquisitions 31 — —
Source: HP INC, 10-K, December 16, 2015 Powered by Morningstar® Document Research℠
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