HP Inc. Reports Fiscal 2019 Second Quarter Results

 
  • Pursuant to adoption of Accounting Standards Update (“ASU”) 2017-07, “Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Post-retirement Benefit Cost”, in the first quarter of fiscal year 2019, HP now reclassifies all components (excluding service cost component) of net periodic benefit cost from Selling, general and administrative expenses to Interest and other, net. HP reflected this change in prior reporting periods on an as-if basis.


  •  HP INC. AND SUBSIDIARIES
    CONSOLIDATED CONDENSED BALANCE SHEETS
    (Unaudited)
    (In millions)
     


      As of
      April 30, 2019  October 31, 2018
    ASSETS   
    Current assets:   
    Cash and cash equivalents$3,556  $5,166 
    Accounts receivable, net5,414  5,113 
    Inventory5,394  6,062 
    Other current assets3,921  5,046 
    Total current assets18,285  21,387 
    Property, plant and equipment, net2,412  2,198 
    Goodwill6,349  5,968 
    Other non-current assets4,900  5,069 
    Total assets$31,946  $34,622 
        
    LIABILITIES AND STOCKHOLDERS' DEFICIT   
    Current liabilities:   
    Notes payable and short-term borrowings$290  $1,463 
    Accounts payable13,839  14,816 
    Employee compensation and benefits826  1,136 
    Taxes on earnings206  340 
    Other accrued liabilities8,042  7,376 
    Total current liabilities23,203  25,131 
    Long-term debt4,749  4,524 
    Other non-current liabilities5,481  5,606 
    Stockholders' deficit(1,487) (639)
    Total liabilities and stockholders' deficit$31,946  $34,622 



     HP INC. AND SUBSIDIARIES
    CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
    (Unaudited)
    (In millions)
     


      Three months ended
      April 30, 2019  April 30, 2018
    Cash flows from operating activities:   
    Net earnings$782  $1,058 
    Adjustments to reconcile net earnings to net cash provided by operating activities:   
    Depreciation and amortization181  127 
    Stock-based compensation expense66  63 
    Restructuring and other charges69  57 
    Deferred taxes on earnings 15     397  
    Other, net 118     185  
    Changes in operating assets and liabilities, net of acquisitions:      
    Accounts receivable (314 )   (234 )
    Inventory 171     86  
    Accounts payable (779 )   201  
    Taxes on earnings (11 )   (1,528 )
    Restructuring and other (33 )   (44 )
    Other assets and liabilities 596     682  
    Net cash provided by operating activities 861     1,050  
    Cash flows from investing activities:      
    Investment in property, plant and equipment (114 )   (113 )
    Purchases of available-for-sale securities and other investments     (36 )
    Maturities and sales of available-for-sale securities and other investments 410     206  
    Collateral posted for derivative instruments (2 )   (293 )
    Collateral returned for derivative instruments 2     857  
    Net cash provided by investing activities 296     621  
    Cash flows from financing activities:      
    (Payment of) Proceeds from short-term borrowings with original maturities less than 90 days, net (1 )   943  
    Proceeds from short-term borrowings with original maturities greater than 90 days     100  
    Proceeds from debt, net of issuance costs 24      
    Payment of short-term borrowings with original maturities greater than 90 days     (969 )
    Payment of debt (62 )   (1,985 )
    Stock-based award activities 7     40  
    Repurchase of common stock (691 )   (801 )
    Cash dividends paid (245 )   (227 )
    Net cash used in financing activities (968 )   (2,899 )
    Increase (Decrease) in cash and cash equivalents 189     (1,228 )
    Cash and cash equivalents at beginning of period 3,367     5,475  
    Cash and cash equivalents at end of period $ 3,556     $ 4,247  

    « Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12  Next Page »



    Review Article Be the first to review this article
    Featured Video
    Latest Blog Posts
    The Open Geospatial Consortium BlogThe OGC Blog
    by The Open Geospatial Consortium Blog
    Sponsorship Opportunities for the OGC Climate Change Services 2022 Pilot
    Jobs
    GIS Specialist for Schneider Geospatial at Indianapolis, Indiana
    Assistant Professor in Applied GIS for University of San Diego at San Diego, California
    Director, Industrial Machinery Solutions- SISW PLM for Siemens AG at Livonia, Michigan
    Senior Highway Engineer for RS&H at Jacksonville, Florida
    Product Design Engineer - Softgoods for Apple Inc at Cupertino, California
    ASIC Architects and Hardware Engineers at D. E. Shaw Research for D. E. Shaw Research at New York, New York
    Upcoming Events
    GIS-Pro 2021: URISA's 59th Annual Conference at 701 Lee St #960 Des Plaines IL - Oct 3 - 6, 2021
    Autodesk University 2021 | Free digital conference at United States - Oct 5 - 14, 2021
    IEC 61850 Week 2021 at United Kingdom - Oct 18 - 22, 2021
    Geospatial World Forum 2021 at Amsterdam Netherlands - Oct 20 - 22, 2021



    © 2021 Internet Business Systems, Inc.
    670 Aberdeen Way, Milpitas, CA 95035
    +1 (408) 882-6554 — Contact Us, or visit our other sites:
    AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
      Privacy PolicyAdvertise