HP Inc. Reports Fiscal 2020 Full Year and Fourth 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) 


  Twelve months ended
  October 31, 2020  October 31, 2019
  Amounts  Diluted
net earnings
per share
  Amounts  Diluted
net earnings
per share
GAAP net earnings$2,844  $2.00   $3,152  $2.07  
Non-GAAP adjustments:       
Restructuring and other charges462  0.33   275  0.17  
Acquisition-related charges16  0.01   35  0.02  
Amortization of intangible assets113  0.08   116  0.08  
Non-operating retirement-related credits (225) (0.16) (68) (0.04)
Debt extinguishment costs40  0.03        —   
Defined benefit plan settlement charges 214     0.15          —   
Tax adjustments (a) (230 )   (0.16 )   (101 )   (0.06 )
Non-GAAP net earnings $ 3,234     $ 2.28      $ 3,409     $ 2.24   
               
GAAP earnings from operations $ 3,462         $ 3,877      
Non-GAAP adjustments:              
Restructuring and other charges 462         275      
Acquisition-related charges 16         35      
Amortization of intangible assets 113         116      
Non-GAAP earnings from operations  $ 4,053         $ 4,303      
               
GAAP operating margin     6.1 %         6.6 %    
Non-GAAP adjustments     1.1 %         0.7 %    
Non-GAAP operating margin     7.2 %         7.3 %    

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

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