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, 2019 | April 30, 2018 | ||||||||||||||
Amounts |
Diluted
net earnings per share | Amounts |
Diluted
net earnings per share | ||||||||||||
GAAP net earnings | $ | 1,585 | $ | 1.02 | $ | 2,996 | $ | 1.81 | |||||||
Non-GAAP adjustments: | |||||||||||||||
Restructuring and other charges | 124 | 0.07 | 88 | 0.05 | |||||||||||
Acquisition-related charges | 21 | 0.01 | 87 | 0.05 | |||||||||||
Amortization of intangible assets | 58 | 0.04 | 40 | 0.02 | |||||||||||
Non-operating retirement-related credits | (22 | ) | (0.01 | ) | (109 | ) | (0.07 | ) | |||||||
Defined benefit plan settlement charges | — | — | 1 | — | |||||||||||
Debt extinguishment costs | — | — | 126 | 0.08 | |||||||||||
Tax adjustments(a)
| (136 | ) | (0.08 | ) | (1,628 | ) | (0.97 | ) | |||||||
Non-GAAP net earnings | $ | 1,630 | $ | 1.05 | $ | 1,601 | $ | 0.97 | |||||||
GAAP earnings from operations(b) | $ | 1,854 | $ | 1,819 | |||||||||||
Non-GAAP adjustments: | |||||||||||||||
Restructuring and other charges | 124 | 88 | |||||||||||||
Acquisition-related charges | 21 | 87 | |||||||||||||
Amortization of intangible assets | 58 | 40 | |||||||||||||
Non-GAAP earnings | $ | 2,057 | $ | 2,034 | |||||||||||
GAAP operating margin (b) | 6 | % | 6 | % | |||||||||||
Non-GAAP adjustments | 1 | % | 1 | % | |||||||||||
Non-GAAP operating margin | 7 | % | 7 | % |
- Includes tax impact on non-GAAP adjustments.