HP Inc. Reports Fiscal 2021 Second Quarter Results

(a) Includes tax impact on non-GAAP adjustments.



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 charges160  0.13  372  0.26 
Acquisition-related charges16  0.01  3   
Amortization of intangible assets61  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 %    

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