| HP INC. AND SUBSIDIARIES
ADJUSTMENTS TO GAAP NET EARNINGS, EARNINGS FROM OPERATIONS, OPERATING MARGIN AND DILUTED NET EARNINGS PER SHARE (Unaudited) (In millions, except per share amounts) | |||||||||||||||||||||||
| Three months ended | |||||||||||||||||||||||
| October 31, 2019 | July 31, 2019 | October 31, 2018 | |||||||||||||||||||||
| Amounts |
Diluted
net earnings per share | Amounts |
Diluted
net earnings per share | Amounts |
Diluted
net earnings per share | ||||||||||||||||||
| GAAP net earnings | $ | 388 | $ | 0.26 | $ | 1,179 | $ | 0.78 | $ | 1,451 | $ | 0.91 | |||||||||||
| Non-GAAP adjustments: | |||||||||||||||||||||||
| Restructuring and other charges | 134 | 0.09 | 17 | 0.02 | 40 | 0.02 | |||||||||||||||||
| Acquisition-related charges (credits) | 23 | 0.02 | (9 | ) | (0.01 | ) | 26 | 0.02 | |||||||||||||||
| Amortization of intangible assets | 29 | 0.02 | 29 | 0.02 | 20 | 0.01 | |||||||||||||||||
| Non-operating retirement-related credits | (25 | ) | (0.02 | ) | (21 | ) | (0.01 | ) | (54 | ) | (0.03 | ) | |||||||||||
| Defined benefit plan settlement charges | — | — | — | — | 5 | — | |||||||||||||||||
| Tax adjustments (a) | 350 | 0.23 | (315 | ) | (0.22 | ) | (623 | ) | (0.39 | ) | |||||||||||||
| Non-GAAP net earnings | $ | 899 | $ | 0.60 | $ | 880 | $ | 0.58 | $ | 865 | $ | 0.54 | |||||||||||
| GAAP earnings from operations (b) | $ | 944 | $ | 1,079 | $ | 994 | |||||||||||||||||
| Non-GAAP adjustments: | |||||||||||||||||||||||
| Restructuring and other charges | 134 | 17 | 40 | ||||||||||||||||||||
| Acquisition-related charges (credits) | 23 | (9 | ) | 26 | |||||||||||||||||||
| Amortization of intangible assets | 29 | 29 | 20 | ||||||||||||||||||||
| Non-GAAP earnings from operations | $ | 1,130 | $ | 1,116 | $ | 1,080 | |||||||||||||||||
| GAAP operating margin (b) | 6 | % | 7 | % | 6 | % | |||||||||||||||||
| Non-GAAP adjustments | 1 | % | 1 | % | 1 | % | |||||||||||||||||
| Non-GAAP operating margin | 7 | % | 8 | % | 7 | % | |||||||||||||||||
