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)

	Nine months ended
	July 31, 2021									July 31, 2020
	Amounts					Diluted net earnings per share				Amounts					Diluted net earnings per share
GAAP net earnings	$	3,404				$	2.73			$	2,176				$	1.51
Non-GAAP adjustments:
Restructuring and other charges	216					0.18				431					0.30
Acquisition-related charges	40					0.03				14					0.01
Amortization of intangible assets	103					0.08				84					0.06
Debt extinguishment costs	16					0.01				40					0.03
Non-operating retirement-related credits	(115			)		(0.09		)		(168			)		(0.12		)
Tax adjustments (a)	(120			)		(0.10		)		(178			)		(0.13		)
Non-GAAP net earnings	$	3,544				$	2.84			$	2,399				$	1.66
GAAP earnings from operations	$	4,064								$	2,470
Non-GAAP adjustments:
Restructuring and other charges	216									431
Acquisition-related charges	40									14
Amortization of intangible assets	103									84
Non-GAAP earnings from operations	$	4,423								$	2,999
GAAP operating margin			8.7	%								6.0	%
Non-GAAP adjustments			0.7	%								1.2	%
Non-GAAP operating margin			9.4	%								7.2	%

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