HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
(Unaudited)
(In millions, except per share amounts)
| Twelve months ended | |||||||
| October 31, 2022 | October 31, 2021 | ||||||
| Net revenue | $ | 62,983 | $ | 63,487 | |||
| Costs and expenses: | |||||||
| Cost of revenue | 50,648 | 50,070 | |||||
| Research and development | 1,593 | 1,907 | |||||
| Selling, general and administrative | 5,264 | 5,741 | |||||
| Restructuring and other charges | 233 | 245 | |||||
| Acquisition and divestiture charges | 318 | 68 | |||||
| Amortization of intangible assets | 228 | 154 | |||||
| Russia exit charges | 23 | — | |||||
| Total costs and expenses | 58,307 | 58,185 | |||||
| Earnings from operations | 4,676 | 5,302 | |||||
| Interest and other, net (a) | (235 | ) | 2,209 | ||||
| Earnings before taxes | 4,441 | 7,511 | |||||
| Provision for taxes (a) | (1,238 | ) | (1,008 | ) | |||
| Net earnings | $ | 3,203 | $ | 6,503 | |||
| Net earnings per share: | |||||||
| Basic | $ | 3.09 | $ | 5.38 | |||
| Diluted | $ | 3.05 | $ | 5.33 | |||
| Cash dividends declared per share | $ | 1.00 | $ | 0.78 | |||
| Weighted-average shares used to compute net earnings per share: | |||||||
| Basic | 1,038 | 1,208 | |||||
| Diluted | 1,050 | 1,220 | |||||
(a) Interest and other, net and Provision for taxes includes a gain and corresponding tax expense, respectively, from the one time Oracle litigation proceeds for the twelve months ended October 31, 2021.
