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)
| Six months ended | |||||||||||||||
| April 30, 2021 | April 30, 2020 | ||||||||||||||
| Amounts |
Diluted
net earnings per share | Amounts |
Diluted
net earnings per share | ||||||||||||
| GAAP net earnings | $ | 2,296 | $ | 1.81 | $ | 1,442 | $ | 0.99 | |||||||
| Non-GAAP adjustments: | |||||||||||||||
| Restructuring and other charges | 160 | 0.13 | 372 | 0.26 | |||||||||||
| Acquisition-related charges | 16 | 0.01 | 3 | — | |||||||||||
| Amortization of intangible assets | 61 | 0.05 | 55 | 0.04 | |||||||||||
| Non-operating retirement-related credits | (76) | (0.06) | (113) | (0.08) | |||||||||||
| Tax adjustments(a) | (111) | (0.09) | (62) | (0.04) | |||||||||||
| Non-GAAP net earnings | $ | 2,346 | $ | 1.85 | $ | 1,697 | $ | 1.17 | |||||||
| GAAP earnings from operations | $ | 2,683 | $ | 1,691 | |||||||||||
| Non-GAAP adjustments: | |||||||||||||||
| Restructuring and other charges | 160 | 372 | |||||||||||||
| Acquisition-related charges | 16 | 3 | |||||||||||||
| Amortization of intangible assets | 61 | 55 | |||||||||||||
| Non-GAAP earnings from operations | $ | 2,920 | $ | 2,121 | |||||||||||
| GAAP operating margin | 8.5 | % | 6.2 | % | |||||||||||
| Non-GAAP adjustments | 0.8 | % | 1.6 | % | |||||||||||
| Non-GAAP operating margin | 9.3 | % | 7.8 | % | |||||||||||
