HP Inc. Reports Fiscal 2023 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, 2023  April 30, 2022
  Amounts  Diluted
net earnings
per share
  Amounts  Diluted
net earnings
per share
GAAP net earnings$1,553  $1.56  $2,086  $1.94 
Non-GAAP adjustments:       
Restructuring and other charges 341   0.34   150   0.13 
Acquisition and divestiture charges 157   0.16   52   0.05 
Amortization of intangible assets 171   0.17       104       0.10  
Debt extinguishment costs   8       0.01              
Non-operating retirement-related credits   (22 )     (0.02 )     (69 )     (0.06 )
Tax adjustments (a)   (662 )     (0.67 )     32       0.02  
Non-GAAP net earnings $ 1,546     $ 1.55     $ 2,355     $ 2.18  
               
GAAP earnings from operations $ 1,527         $ 2,637      
Non-GAAP adjustments:              
Restructuring and other charges   341           150      
Acquisition and divestiture charges   157           52      
Amortization of intangible assets   171           104      
Non-GAAP earnings from operations $ 2,196         $ 2,943      
               
GAAP operating margin   5.7 %         7.9 %    
Non-GAAP adjustments   2.5 %         0.9 %    
Non-GAAP operating margin   8.2 %         8.8 %    



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