HP Inc. Reports Fiscal 2018 First Quarter Results


 
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)

 
  Three
months
ended
January
31, 2018
  Diluted
net
earnings
per share
  Three
months
ended
October
31, 2017
  Diluted
net
earnings
per share
  Three
months
ended
January 
31, 2017
  Diluted
net
earnings
per share
GAAP net earnings$1,938  $1.16  $660  $0.39  $611  $0.36 
Non-GAAP adjustments:           
Restructuring and other charges31  0.02  113  0.06  63  0.04 
Acquisition-related charges42  0.02  49  0.03  16  0.01 
Amortization of intangible assets20  0.01         
Non-operating retirement-related credits(56) (0.03) (34) (0.02) (32) (0.02)
Defined benefit plan settlement charges1    1       
Tax indemnification credits2    (23) (0.01) (9) (0.01)
Adjustments for taxes(30) (0.02) (17) (0.01) (3)  
US tax reform adjustment(1,145) (0.68)        
Non-GAAP net earnings$803  $0.48  $749  $0.44  $646  $0.38 
                    
GAAP earnings from operations $ 973         $ 890         $ 856      
Non-GAAP adjustments:                      
Restructuring and other charges 31         113         63      
Acquisition-related charges 42         49         16      
Amortization of intangible assets 20                      
Non-operating retirement-related credits (56 )       (34 )       (32 )    
 Defined benefit plan settlement charges 1         1              
Non-GAAP earnings from operations $ 1,011         $ 1,019         $ 903      
                       
GAAP operating margin 7 %       6 %       7 %    
Non-GAAP adjustments 0 %       1 %       0 %    
Non-GAAP operating margin 7 %       7 %       7 %    
                             

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